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Intraday price action trend trading

  • #10,141
  • Jul 30, 2012 6:09am Jul 30, 2012 6:09am
Entered a quick long scalp for a 1R return. Entered at 1.5700 RN after a touch of the 10 ema.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30th July GU 15m Chart.jpg Size: 105 KB
Click to Enlarge Name: 30th July GU 15m Chart 2.jpg Size: 100 KB
  • #10,142
  • Jul 30, 2012 6:16am Jul 30, 2012 6:16am
Are we going to see a break down on EU??
Attached Image (click to enlarge)
Click to Enlarge Name: 30th July EU 15m Chart 3.jpg Size: 99 KB
  • #10,143
  • Edited 6:55am Jul 30, 2012 6:22am | Edited 6:55am
GBP/AUD M 15 right now.

IŽll give it a try. Impulsiv - corrective - doji (almost 50 fib)


- out with -6,5pip -
Attached Image
  • #10,144
  • Edited 7:14am Jul 30, 2012 6:52am | Edited 7:14am
Got in early with this short trade.

Watching PA for exit

I found reading through the thread that entering aggresively often pays off as long as you get the direction correct of course.
This way you catch the initial move, have a smaller SL and you are exiting as others are just getting in.
Attached Image (click to enlarge)
Click to Enlarge Name: 30th July EU 15m Chart 3.jpg Size: 105 KB
  • #10,145
  • Edited 7:32am Jul 30, 2012 7:05am | Edited 7:32am
Quoting stevepatt
Got in early with this short trade.

Watching PA for exit

I found reading through the thread that entering aggresively often pays off as long as you get the direction correct of course.
This way you catch the initial move, have a smaller SL and you are exiting as others are just getting in.
Exited for 2R could be more to the down side have to wait and see.

EDIT: I thought there was more to come to the down side hope someone entered from the two inside candles.

I've finished for the day, 5R return for the day.

I don't know if what I'm doing is 100% following Sho's rules but what I've tried to do is to incorporate things I've learned from other PA threads and make it work for me.
Attached Image (click to enlarge)
Click to Enlarge Name: 39th July EU 15m Chart 4.jpg Size: 85 KB
  • #10,146
  • Jul 30, 2012 7:44am Jul 30, 2012 7:44am
Couldn't resist this one short. Again it's a retrace back to previous area of support and resistance.

Watching PA for exit.
Attached Image (click to enlarge)
Click to Enlarge Name: 30th July GU 15m Chart 3.jpg Size: 111 KB
  • #10,147
  • Jul 30, 2012 7:53am Jul 30, 2012 7:53am
Quoting stevepatt
Couldn't resist this one short. Again it's a retrace back to previous area of support and resistance.

Watching PA for exit.
Exited for 11 pips (1R) return at demand level.
Attached Image (click to enlarge)
Click to Enlarge Name: 30th July GU 15m Chart 4.jpg Size: 82 KB
  • #10,148
  • Jul 30, 2012 8:13am Jul 30, 2012 8:13am
Quoting Clean Chart
Hi Alec

For me it is almost the same setup. Like the chart looks "right now" i would not take a trade. For me no clear priceaction. But one bar before i would have taken the double IB break. Stop 1 pip below the IB.

What would you do?
Hi Chris,
The reason why I asked about same setup two times, bcz sometimes it's good to look at the same setup from different angles to actually see the good setup. At least for me. I would take this trade and the IB you mentioned as well. To me it is OB after Clear Impulsive wave setup and I realized that when I saw same setup to the upside. Could be a 1:3 winner
Look for reasons not to take a trade.
  • #10,149
  • Jul 30, 2012 8:32am Jul 30, 2012 8:32am
Quoting overseaz
Hi guys! I'd like your opinion about this setup. Please see the chart.
Master Sho, Pipmunks, Kai, Chris and others who have good experience with this PA method:
What do you think about this setup, good or no good? Should I sell right now or it's not a valid setup?
Hi Overseaz,

The earlier you can get into a trade the better, this gives the smallest SL and you are entering with the initial momentum and not trying to get into a trade after it might have run it's course.

I picked this up from reading back through the thread, it's something "TheRoper" was doing in the early pages of the thread with quite a lot of success.

Cheers

Steve
Attached Image (click to enlarge)
Click to Enlarge Name: 30th July Random Chart.jpg Size: 95 KB
  • #10,150
  • Jul 30, 2012 8:33am Jul 30, 2012 8:33am
Quoting stevepatt
Exited for 2R could be more to the down side have to wait and see.

EDIT: I thought there was more to come to the down side hope someone entered from the two inside candles.

I've finished for the day, 5R return for the day.

I don't know if what I'm doing is 100% following Sho's rules but what I've tried to do is to incorporate things I've learned from other PA threads and make it work for me.
Hi Steve! Welcome back!
I think one of the most important things in trading is to do whatever works for you to stay positive. To keep your account growing month after month. I believe we can't copy someones PA method exactly and make money. In my opinion we can trade our own setups we trust already due to our own experience and continue to learn from others and the market itself. Just my opinion. I think you are doing great! Thanks for your posts.
Alec
Look for reasons not to take a trade.
  • #10,151
  • Jul 30, 2012 8:36am Jul 30, 2012 8:36am
Quoting stevepatt
Hi Overseaz,

The earlier you can get into a trade the better, this gives the smallest SL and you are entering with the initial momentum and not trying to get into a trade after it might have run it's course.

I picked this up from reading back through the thread, it's something "TheRoper" was doing in the early pages of the thread with quite a lot of success.

Cheers

Steve
I definetely took that trade that's my A+++++++++++++++ setup
Look for reasons not to take a trade.
  • #10,152
  • Jul 30, 2012 9:56am Jul 30, 2012 9:56am
This shows what I'm looking for to take a trade.

Market retraces to test previous support and then forms an inside candle.
Attached Image (click to enlarge)
Click to Enlarge Name: 30th July EU 15m Chart 4.jpg Size: 103 KB
  • #10,153
  • Jul 31, 2012 1:11am Jul 31, 2012 1:11am
Short on EU.

Watching demand area below for TP
Attached Image (click to enlarge)
Click to Enlarge Name: 31st July EU 15m Chart.jpg Size: 92 KB
  • #10,154
  • Jul 31, 2012 1:25am Jul 31, 2012 1:25am
Quoting stevepatt
Short on EU.

Watching demand area below for TP
Exited at demand for 1R return, quick in quick out.
Attached Image (click to enlarge)
Click to Enlarge Name: 31st July EU 15m Chart 2.jpg Size: 96 KB
  • #10,155
  • Jul 31, 2012 2:08am Jul 31, 2012 2:08am
Short on AU
Attached Image (click to enlarge)
Click to Enlarge Name: 31st July AU 15m Chart.jpg Size: 89 KB
  • #10,156
  • Jul 31, 2012 2:19am Jul 31, 2012 2:19am
Quoting stevepatt
Short on AU
Exited for 1R return.

Same setup as before on EU, probally jumped out too quick
Attached Image (click to enlarge)
Click to Enlarge Name: 31st July AU 15m Chart 2.jpg Size: 93 KB
  • #10,157
  • Jul 31, 2012 4:33am Jul 31, 2012 4:33am
Quoting stevepatt
Exited at demand for 1R return, quick in quick out.
nice trade, i like your mentioning the demand aerea. For me this aereas are very importand to watch for entry and for exit

i saw the same setup, dit not take cause just before breakfast, too early for me my wife would hit me if i spoil the breakfast hour
MJ
  • #10,158
  • Jul 31, 2012 4:47am Jul 31, 2012 4:47am
Quoting MJurban
nice trade, i like your mentioning the demand aerea. For me this aereas are very importand to watch for entry and for exit

i saw the same setup, dit not take cause just before breakfast, too early for me my wife would hit me if i spoil the breakfast hour
MJ
Hi MJ,

That's right I like to make sure I can get at least 1:1 RR before hitting demand/supply levels. By having a more aggressive entry you can get a smaller SL and so your TP is closer.

Don't up set your wife the biggest mistake any trader can make LOL
  • #10,159
  • Jul 31, 2012 4:52am Jul 31, 2012 4:52am
Short on AU
Attached Image (click to enlarge)
Click to Enlarge Name: 31 July AU 15m Chart.jpg Size: 94 KB
  • #10,160
  • Jul 31, 2012 5:10am Jul 31, 2012 5:10am
Quoting stevepatt
Short on AU
Out at supply level for 1R return
Attached Image (click to enlarge)
Click to Enlarge Name: 31st July AU 15m Chart 3.jpg Size: 86 KB
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