Entered a quick long scalp for a 1R return. Entered at 1.5700 RN after a touch of the 10 ema.
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Intraday price action trend trading
- #10,141
- Jul 30, 2012 4:09am Jul 30, 2012 4:09am
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- #10,142
- Jul 30, 2012 4:16am Jul 30, 2012 4:16am
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- #10,144
- Edited 5:14am Jul 30, 2012 4:52am | Edited 5:14am
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- #10,145
- Edited 5:32am Jul 30, 2012 5:05am | Edited 5:32am
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- #10,146
- Jul 30, 2012 5:44am Jul 30, 2012 5:44am
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- #10,147
- Jul 30, 2012 5:53am Jul 30, 2012 5:53am
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- #10,148
- Jul 30, 2012 6:13am Jul 30, 2012 6:13am
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?
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 6:32am Jul 30, 2012 6:32am
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- #10,150
- Jul 30, 2012 6:33am Jul 30, 2012 6:33am
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.
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 6:36am Jul 30, 2012 6:36am
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
that's my A+++++++++++++++ setup
Look for reasons not to take a trade.
- #10,152
- Jul 30, 2012 7:56am Jul 30, 2012 7:56am
- Joined Dec 2010 | Status: Never Stop Learning | 7,362 Posts
- #10,153
- Jul 30, 2012 11:11pm Jul 30, 2012 11:11pm
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- Jul 30, 2012 11:25pm Jul 30, 2012 11:25pm
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- Jul 31, 2012 12:08am Jul 31, 2012 12:08am
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- Jul 31, 2012 12:19am Jul 31, 2012 12:19am
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- Jul 31, 2012 2:47am Jul 31, 2012 2:47am
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- #10,159
- Jul 31, 2012 2:52am Jul 31, 2012 2:52am
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- #10,160
- Jul 31, 2012 3:10am Jul 31, 2012 3:10am
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