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Intraday price action trend trading

  • #10,181
  • Aug 2, 2012 4:35am Aug 2, 2012 4:35am
Waiting patiently for a signal to form - short term uptrend. Price Action
above 10 & 200 ema and has been riding above that trendline. Approaching the BRN and has broken through as I write this. I will wait for market to tell me which way it wants to go. May be a retrace back to the BRN and reject - could give a continuation long ????
I would not be interested in a short back towards those ema's
What about you guys ??
Brian
Attached Image (click to enlarge)
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  • #10,182
  • Aug 2, 2012 4:56am Aug 2, 2012 4:56am
Quoting binnie
I had this Aussie for a 6 pipper. Not real sure what is happening again tonight. The Pound is in a range of around 35 pips for past 10hrs. More new out soon in about 2 hrs.
Any comments on my setup ?
Cheers
Brian
Nice Impulsive > Corrective > OB setup
Attached Image (click to enlarge)
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Look for reasons not to take a trade.
  • #10,183
  • Aug 2, 2012 5:08am Aug 2, 2012 5:08am
Quoting binnie
I had this Aussie for a 6 pipper. Not real sure what is happening again tonight. The Pound is in a range of around 35 pips for past 10hrs. More new out soon in about 2 hrs.
Any comments on my setup ?
Cheers
Brian
Hi Brian,

Good to see you here.

Oversaez got there before me, the same thing happened on EU see my earlier post

GU breaking long at the moment waiting for the retrace.
Attached Image (click to enlarge)
Click to Enlarge Name: 2nd Aug AU 15m Chart.jpg Size: 90 KB
  • #10,184
  • Aug 2, 2012 5:19am Aug 2, 2012 5:19am
Quoting stevepatt
Hi Brian,

Good to see you here.

Oversaez got there before me, the same thing happened on EU see my earlier post

GU breaking long at the moment waiting for the retrace.
I'm going for a short vacation trip.
Many pips to all.
See you guys in a week.
Alec
Look for reasons not to take a trade.
  • #10,185
  • Aug 2, 2012 5:30am Aug 2, 2012 5:30am
Quoting overseaz
I'm going for a short vacation trip.
Many pips to all.
See you guys in a week.
Alec
Hi Alec,

I'm going away tomorrow, as well, for about a week. Have a good trip.
  • #10,186
  • Aug 2, 2012 6:49am Aug 2, 2012 6:49am
Quoting stevepatt
Hi Alec,

I'm going away tomorrow, as well, for about a week. Have a good trip.
Thanks Steve. You too. We need some time off the screen.
Have fun
Look for reasons not to take a trade.
  • #10,187
  • Aug 3, 2012 4:01am Aug 3, 2012 4:01am
Hope this will help someone to read IMPULSIVE--CORRECTIVE PA
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 3rd Aug EU 15m Chart 2.jpg Size: 95 KB
  • #10,188
  • Aug 9, 2012 4:10am Aug 9, 2012 4:10am
Been a bit quite around here since last week.

Took this short trade on EU this morning. Not the most obvious Impulsive:Corrective move but price hit short term resistance above and formed the PB indicating a bearish bias.
Attached Image (click to enlarge)
Click to Enlarge Name: 9th Aug EU 15m Chart.jpg Size: 91 KB
  • #10,189
  • Aug 9, 2012 5:41am Aug 9, 2012 5:41am
AU short
Attached Image (click to enlarge)
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  • #10,190
  • Aug 9, 2012 7:37am Aug 9, 2012 7:37am
Quoting stevepatt
AU short

Taken out at break even.

Trade went to 1.5R, this is often the dilemma hang in for a bigger return or just be happy to take a steady 1:1 or 1:5 RR.
I was prepared to take the risk this time because I had already made a 1.3R on my previous trade.
  • #10,191
  • Edited 10:43am Aug 9, 2012 9:48am | Edited 10:43am
AU Long after market broke through short term support/resistance level

Out at BE
Attached Image (click to enlarge)
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  • #10,192
  • Aug 9, 2012 10:10am Aug 9, 2012 10:10am
Hi Steve

Hope you had a nice trip.
You are right. Its very quite here.

I´m for examble very busy with my dayjob. No time for trading right now.

You had some nice trades. Thank for sharing with us! It will help everybody. Please continue.

Many pip to you!
  • #10,193
  • Edited Aug 10, 2012 3:50am Aug 9, 2012 10:41am | Edited Aug 10, 2012 3:50am
Quoting Clean Chart
Hi Steve

Hope you had a nice trip.
You are right. Its very quite here.

I´m for examble very busy with my dayjob. No time for trading right now.

You had some nice trades. Thank for sharing with us! It will help everybody. Please continue.

Many pip to you!
Hi Clean Chart,

I did thanks.

I don't usually get this much time to trade, taking some time out to focus on it a bit more. It certainly helps not to be in any hurry to find trades.

I just post what I see as the trade materialises I'll keep posting for as long as I have the time and people don't get bored by what I'm doing.

At the end of the day it's a matter of watching PA as it develops and trading what you see the more time spent watching the easier it becomes.

Before entering a trade have a good idea of what you want from it, make sure there is at least enough room to get to 1:1 RR to TP before hitting a RN/support or resistance.
Once in a trade look to get to break even as soon as possible, if your entering a trade with the momentum going with you that shouldn't take too long, then look at where you want to exit and watch PA to do this. Don't worry about what the market does after you have exited as long as you have stuck with your trading plan.

Cheers

Steve
  • #10,194
  • Aug 10, 2012 3:34am Aug 10, 2012 3:34am
EU short.

This is an aggressive entry after the corrective move hits the Asian short term resistance. By getting in early I can use a much smaller SL.
Attached Image (click to enlarge)
Click to Enlarge Name: 10th Aug EU 15m Chart.jpg Size: 103 KB
  • #10,195
  • Aug 10, 2012 4:04am Aug 10, 2012 4:04am
AU Short because of almost pinbar

stop -9,2 pip
Attached Image
  • #10,196
  • Aug 10, 2012 4:07am Aug 10, 2012 4:07am
Quoting stevepatt
EU short.

This is an aggressive entry after the corrective move hits the Asian short term resistance. By getting in early I can use a much smaller SL.
Hi Steve - nice chart . I chose Aussie as gave me a stronger signal that original short was to resume. Stopped out and in hindsight - perhaps the Keltner was a bit flat. ( Compared to the Euro - lol )
Hope your's is still hanging in there.
Brian
Attached Image (click to enlarge)
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  • #10,197
  • Aug 10, 2012 4:31am Aug 10, 2012 4:31am
Guys - it seems like there are too many buyers still . I have posted a Pound chart which shows strong buying pressure but a downward channel & ma.
Question - at what point does the corrective become impulsive ?
I would say when the KC changes direction AND a new High or Low is made.
Is this a reasonable comment ?? Or are there other factors I need to learn about.
cheers for replies
Brian
Attached Image (click to enlarge)
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  • #10,198
  • Aug 10, 2012 5:14am Aug 10, 2012 5:14am
Quoting binnie
Guys - it seems like there are too many buyers still . I have posted a Pound chart which shows strong buying pressure but a downward channel & ma.
Question - at what point does the corrective become impulsive ?
I would say when the KC changes direction AND a new High or Low is made.
Is this a reasonable comment ?? Or are there other factors I need to learn about.
cheers for replies
Brian
Hi Brian

Corrective becomes impulsive when momentum changes. Always try to trade with momentum.
  • #10,199
  • Aug 10, 2012 5:24am Aug 10, 2012 5:24am
Appreciate your reply. Do you have a rule of thumb to determine MOMENTUM? 2-3-4 strong bars.?
Cheers
Brian
  • #10,200
  • Aug 10, 2012 6:47am Aug 10, 2012 6:47am
Quoting binnie
Appreciate your reply. Do you have a rule of thumb to determine MOMENTUM? 2-3-4 strong bars.?
Cheers
Brian
You are welcome my friend

Sho wrote a lot about momentum. Check out his main thread! For examble post 110.

http://www.forexfactory.com/showthre...14#post3415914

Sorry i dont have a clear rule, each chart is different. But in most cases if stop is less ill give it a try after 2 strong bars (agressiv).
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