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Intraday price action trend trading

  • #10,201
  • Aug 10, 2012 7:52am Aug 10, 2012 7:52am
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,

For me a Corrective move becomes Impulsive for different reasons. If it breaks a level of support or resistance or breaks through to the opposite side of the 10 EMA channel or as you say makes a new high or low.

After watching these moves on the charts for a while it becomes a lot easier to see.

Hope this helps a little.
Attached Image (click to enlarge)
Click to Enlarge Name: 10th Aug EU 15m Chart 2.jpg Size: 111 KB
  • #10,202
  • Aug 10, 2012 10:07am Aug 10, 2012 10:07am
UJ short

3,6 pip stop

got 24,2 pip

No one knows when trend will end. Ride the trend as long as you can.

Entrysignal was the almost pinbar. Stop 1 pip + spread above the pin. Trade was almost getting stoped out before it went south.

Closed the trade because of the almost pinbar break to the upside.

Have a nice weekend and many pips to all of you!
  • #10,203
  • Aug 10, 2012 10:08am Aug 10, 2012 10:08am
Here the Chart
Attached Image (click to enlarge)
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  • #10,204
  • Aug 10, 2012 11:32am Aug 10, 2012 11:32am
Quoting Clean Chart
Here the Chart
Hi Clean Chart,

Nice trade, I see the 78.500 RN right above you as well acting as support/resistance.

I like to see an impulsive move break a RN with momentum and then the corrective move to retrace back to it and then look for PA to take a trade.

If anyone is struggling with their trading just look for this type of setup it works most of the time.

Here's another example from yesterday on AU 15m Chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 9th Aug AU 15m Chart.jpg Size: 94 KB
  • #10,205
  • Aug 13, 2012 4:39am Aug 13, 2012 4:39am
Hi Guys - Not a great start. I guess I have mis-read the first impulse move direction. Everthing looked good for a short. No news that I am aware of - just guess market needed to recover a bit ( at my expense - LOL )
I am now thinking that his latest run up is the new impulse move - any other comments or ideas ?
Brian
Attached Image (click to enlarge)
Click to Enlarge Name: 6B 09-12 (15 Min) 13_08_2012.jpg Size: 103 KB
  • #10,206
  • Aug 13, 2012 4:51am Aug 13, 2012 4:51am
AU long
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Aug AU 15m Chart.jpg Size: 110 KB
  • #10,207
  • Aug 13, 2012 5:19am Aug 13, 2012 5:19am
Quoting binnie
I am now thinking that his latest run up is the new impulse move - any other comments or ideas ?
Brian
Hi Brian

Take a look at my chart. It is the same chart you took your trade. GU today

Do you know why your trade was a stop? Look at the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 271 KB
  • #10,208
  • Aug 13, 2012 5:24am Aug 13, 2012 5:24am
Brian take a look at post 6 in Sho´s mainthread

http://www.forexfactory.com/showthre...25#post3395725
  • #10,209
  • Aug 13, 2012 5:31am Aug 13, 2012 5:31am
Hi Steve..,

Why you skip "short" / Will you do "Short" on the pinbar highlighted with Red arrow..??

Other trader comments are welcomed..

Thanks for the answer..
FxP12
Attached Image (click to enlarge)
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  • #10,210
  • Aug 13, 2012 5:52am Aug 13, 2012 5:52am
Quoting Clean Chart
Brian take a look at post 6 in Sho´s mainthread

http://www.forexfactory.com/showthre...25#post3395725
Hi CC , what a difference a zoomed out view makes. I can certainly see that we have been in a big flat channel . I have my charts ( Aussie, Pound & Euro ) all on one page and they are zoomed in . This gives the impression that the larger bars were really making a move. Lesson learned my friend. Will take a bit more of a birds eye view before committing to a trade. To be really honest, I am a stickler for avoiding sideways markets - this optical illusion really caught me out ( LOL) .
Anyway - thanks for getting me on the straight & narrow.( right path )
Brian
  • #10,211
  • Aug 13, 2012 5:59am Aug 13, 2012 5:59am
EU long
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Aug EU 15m Chart.jpg Size: 132 KB
  • #10,212
  • Aug 13, 2012 6:03am Aug 13, 2012 6:03am
Pretty confident this is a better trade.
Amazing feeling when you get it right.
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 09-12 (15 Min) 13_08_20121.jpg Size: 101 KB
  • #10,213
  • Aug 13, 2012 6:11am Aug 13, 2012 6:11am
Quoting stevepatt
EU long
Looks like you have nailed that one too Steve. Good stuff.
I'm off now guys - it's 11.15pm here (NZ). Snooze time.
See you again tomorrow- goodluck tonite.
Brian
  • #10,214
  • Aug 13, 2012 6:24am Aug 13, 2012 6:24am
Quoting Fxprince12
Hi Steve..,

Why you skip "short" / Will you do "Short" on the pinbar highlighted with Red arrow..??

Other trader comments are welcomed..

Thanks for the answer..
FxP12
Hi FxP,

I wasn't watching AU at this time to tell you the truth I was watching EU. I don't think I would have gone short because market didn't break below the bearish PB.
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Aug AU 15m Chart 2.jpg Size: 108 KB
  • #10,215
  • Aug 13, 2012 7:00am Aug 13, 2012 7:00am
Hi guys! That's what I see today.
Eu 4H and 1D charts
Attached Image(s) (click to enlarge)
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Look for reasons not to take a trade.
  • #10,216
  • Aug 13, 2012 7:25am Aug 13, 2012 7:25am
PA entries RR at least 1:1.5
Just how I see it
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au201208133.gif Size: 266 KB
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Look for reasons not to take a trade.
  • #10,217
  • Aug 13, 2012 11:06am Aug 13, 2012 11:06am
Quoting overseaz
PA entries RR at least 1:1.5
Just how I see it
Hi Alec,

Welcome back, hope you had a good trip?

I like the way your looking at things. I tend to stick to the time frame I'm trading to find what I need to trade, but that's just me I find it hard to multi task LOL.

As long as we keep looking for the impulsive moves that, ideally, break a level of support, resistance or RN followed by a corrective move that reaches, or gets close to, that level of support or resistance and then look for an inside candle, engulfing candle or pin bar to get into a trade we can't go far wrong, can we??
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Aug AU 15m Chart 3.jpg Size: 93 KB
  • #10,218
  • Aug 13, 2012 12:48pm Aug 13, 2012 12:48pm
Hi Alec

Im glad to see you here again. Hope you had a nice holiday.


Steve, your last AU chart is realy awesome. Great setup! Hope you got it.

EU, AU, EA and many other pairs had a nice trend today. I´m sorry i was bussy. But in backsight it is always easy to spot the right trades. Realtime is the challenge
  • #10,219
  • Aug 13, 2012 1:47pm Aug 13, 2012 1:47pm
Quoting Clean Chart
Hi Alec

Im glad to see you here again. Hope you had a nice holiday.


Steve, your last AU chart is realy awesome. Great setup! Hope you got it.

EU, AU, EA and many other pairs had a nice trend today. I´m sorry i was bussy. But in backsight it is always easy to spot the right trades. Realtime is the challenge
Thanks guys! I had a very nice holiday.
Back to work
It is true, real time is real challenge. First we learn what to look for and we practice, practice, practice, practice...then it's just a habit
Look for reasons not to take a trade.
  • #10,220
  • Edited Aug 14, 2012 1:22am Aug 13, 2012 1:55pm | Edited Aug 14, 2012 1:22am
Quoting stevepatt
Hi Alec,

Welcome back, hope you had a good trip?

I like the way your looking at things. I tend to stick to the time frame I'm trading to find what I need to trade, but that's just me I find it hard to multi task LOL.

As long as we keep looking for the impulsive moves that, ideally, break a level of support, resistance or RN followed by a corrective move that reaches, or gets close to, that level of support or resistance and then look for an inside candle, engulfing candle or pin bar to get into a trade we can't go far wrong, can we??...
You are right Steve. I like to look at one TF myself, but having a good understanding what is going on on higher TF makes me feel more comfortable to pull the trigger
Look for reasons not to take a trade.
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