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Intraday price action trend trading

  • #10,221
  • Aug 13, 2012 2:22pm Aug 13, 2012 2:22pm
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
Hi Clean Chart,

No I missed it, I was out for the afternoon with my son.

But it illustrates the benefits of having the patience to wait for the market to come to us and not chase a trade. If a trade, we are taking, doesn't feel right chances are it isn't.

I know I have been guilty of chasing trades in the past, at least I hope it's in the past.

Cheers

Steve
  • #10,222
  • Aug 14, 2012 2:24am Aug 14, 2012 2:24am
AU long, not the most obvious impulsive move but market broke two inside candles and trend line. Market had also made an HH during Asian session.

Watching PA around RN and supply level for TP.
Attached Image (click to enlarge)
Click to Enlarge Name: 14th Aug AU 15m Chart.jpg Size: 112 KB
  • #10,223
  • Aug 14, 2012 3:22am Aug 14, 2012 3:22am
Quoting stevepatt
AU long, not the most obvious impulsive move but market broke two inside candles and trend line. Market had also made an HH during Asian session.

Watching PA around RN and supply level for TP.
Exited for 1.32R too many long wicks.
Attached Image (click to enlarge)
Click to Enlarge Name: 14th Aug AU 15m Chart 2.jpg Size: 94 KB
  • #10,224
  • Aug 14, 2012 4:39am Aug 14, 2012 4:39am
Evening / morning all. Managed the B/E trade indicated but now not so sure that momentum is set to change. What do you guys / gals think?
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 09-12 (15 Min) 14_08_20121.jpg Size: 116 KB
  • #10,225
  • Aug 14, 2012 5:29am Aug 14, 2012 5:29am
Quoting binnie
Evening / morning all. Managed the B/E trade indicated but now not so sure that momentum is set to change. What do you guys / gals think?
Hi Brian,

If you look back to the 9th August there is a big supply level.
Market touched this level yesterday and bounced, market nearly broke through it today.

If that supply level is exhausted market could move back up and break through but we then have the 1.24000 RN above this supply.

Personally I'd like to see the supply level hold because there is more room to the downside.
Attached Image (click to enlarge)
Click to Enlarge Name: 14th Aug EU 15m Chart.jpg Size: 146 KB
  • #10,226
  • Aug 15, 2012 2:24am Aug 15, 2012 2:24am
Long on EU
Attached Image (click to enlarge)
Click to Enlarge Name: 15th Aug EU 15m Chart.jpg Size: 124 KB
  • #10,227
  • Aug 15, 2012 2:40am Aug 15, 2012 2:40am
Quoting stevepatt
Long on EU
Hi Steve & everyone. I took the 5 pips that the market was prepared to give me. I only targeted 5 because of the past resistance right above me.
Will wait to see if PA can break that level then I can look for a further retrace & possible re-entry.
Good trading to us all
Brian
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 09-12 (15 Min) 15_08_2012.jpg Size: 112 KB
  • #10,228
  • Aug 15, 2012 2:56am Aug 15, 2012 2:56am
Quoting stevepatt
Long on EU
Stopped out (1R) move on to the next opportunity.
  • #10,229
  • Aug 15, 2012 3:09am Aug 15, 2012 3:09am
My thoughts on what to look for.
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 09-12 (15 Min) 15_08_20121.jpg Size: 116 KB
  • #10,230
  • Aug 15, 2012 3:24am Aug 15, 2012 3:24am
Quoting binnie
My thoughts on what to look for.
Hi Brian,

I think your right it's a matter of waiting to see which way it wants to break. I just wish they would make up their minds and get on with it LOL
  • #10,231
  • Aug 15, 2012 3:55am Aug 15, 2012 3:55am
Got a stop

EURAUD long because of the doji
Attached Image (click to enlarge)
Click to Enlarge Name: ea.jpg Size: 114 KB
  • #10,232
  • Aug 15, 2012 4:13am Aug 15, 2012 4:13am
Quoting stevepatt
Stopped out (1R) move on to the next opportunity.
Hi guys!
Stopped out - 4 pips. Same trade. Let's wait for another perfect setup.
Look for reasons not to take a trade.
  • #10,233
  • Aug 15, 2012 4:16am Aug 15, 2012 4:16am
Quoting Clean Chart
Got a stop

EURAUD long because of the doji
Hi CC - this whole market is a bit undecided. Sudden surges then retraces followed by consolidation. Makes it hard for us mere mortals to compete with the monster (LOL).
Anyway - enough for tonite ( NZ Time). Good luck with the US Open .
Catch you again tomorrow
Ciao
Brian
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 09-12 (15 Min) 15_08_20122.jpg Size: 100 KB
  • #10,234
  • Aug 15, 2012 5:28am Aug 15, 2012 5:28am
It's like on latest Sho's video. Breakout.
Too bad I missed this trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu20120815.gif Size: 20 KB
Click to Enlarge Name: eu20120816.gif Size: 24 KB
Look for reasons not to take a trade.
  • #10,235
  • Aug 15, 2012 5:50am Aug 15, 2012 5:50am
Quoting overseaz
It's like on latest Sho's video. Breakout.
Too bad I missed this trade.
Hi Alec,

Saw the same thing, I'm waiting for the corrective move. I'm expecting to see a test of the 1.23000 RN.

That's the problem, sometimes you can enter right on the break and it takes off and other times it takes it sweet time.
It's difficult to enter straight into a fast moving market but if you set up a pending order the market can be slow moving and activate your trade and then turn around on you. I would rather play the percentage game and wait for the corrective move before getting into a trade.
  • #10,236
  • Aug 15, 2012 6:45am Aug 15, 2012 6:45am
Giving this one a try.

EG short ib break to downside
Attached Image (click to enlarge)
Click to Enlarge Name: eg.jpg Size: 161 KB
  • #10,237
  • Aug 15, 2012 7:50am Aug 15, 2012 7:50am
Quoting stevepatt
Hi Alec,

Saw the same thing, I'm waiting for the corrective move. I'm expecting to see a test of the 1.23000 RN.

That's the problem, sometimes you can enter right on the break and it takes off and other times it takes it sweet time.
It's difficult to enter straight into a fast moving market but if you set up a pending order the market can be slow moving and activate your trade and then turn around on you. I would rather play the percentage game and wait for the corrective move before getting into a trade.
Hi Steve,
I was looking to buy GU and completely forgot about EU Stop order crossed my mind too))
Luckily I was able to catch same type breakout play on AU today.
Please see charts below.
Alec
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au201208151.gif Size: 21 KB
Click to Enlarge Name: au201208152.gif Size: 24 KB
Look for reasons not to take a trade.
  • #10,238
  • Aug 15, 2012 8:54am Aug 15, 2012 8:54am
Quoting overseaz
Hi Steve,
I was looking to buy GU and completely forgot about EU Stop order crossed my mind too))
Luckily I was able to catch same type breakout play on AU today.
Please see charts below.
Alec
Nice trade, we can't go far wrong if we trade with the momentum.

Did anyone trade the break of the inside candle to the upside on AU? I missed it, been out for a couple of hours.
  • #10,239
  • Aug 16, 2012 7:44am Aug 16, 2012 7:44am
DB > Impulsive > Corrective
Attached Image (click to enlarge)
Click to Enlarge Name: eu201208161.gif Size: 23 KB
Look for reasons not to take a trade.
  • #10,240
  • Edited 8:26am Aug 16, 2012 8:03am | Edited 8:26am
Quoting overseaz
DB > Impulsive > Corrective
Hi Alec,

I was watching on the 15m chart, didn't take a trade because of red news. Now waiting for a retrace to the 1.23000 RN.
Attached Image (click to enlarge)
Click to Enlarge Name: 16th Aug EU 15m Chart.jpg Size: 116 KB
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