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Intraday price action trend trading

  • #10,261
  • Aug 22, 2012 4:24pm Aug 22, 2012 4:24pm
Quoting Clean Chart
Hi Guys

Got two trades today. Was just about 1 hour in front of the screen.

2 times long because of the pinbarsetup. Made some money.

But i am struggling with my trading. Dont know exactly what i am doing wrong. Most trades are stops and the trades i dont take become big runner.
Hope you guys are doing better. I´m going to review my journal at the end of this month.

Many pips to all of you!
Hi CC,
I can clearly see the signal & trigger on the EU . But can you describe the entry on the EC. This one was not as clear cut as the other and perhaps this is where I am going wrong sometimes too. If the EU set up was the norm, then trading would be simple (LOL) .
Personally I need to be a bit more patient & wait for those A+++ setups.
Happy pipping
  • #10,262
  • Aug 23, 2012 2:34am Aug 23, 2012 2:34am
Hi binnie

How are you? You are always the first one posting here. Enjoy where you are living. I realy want to spend a holiday in New Zealand. Not planned yet but in a few years im sure i will get there. Great place to be.

My signal on EC was the almost pinbar (last green candle on the right, just one bar before my entry). Entry was on a little retrace at the next bar. Try to ignore the next 2 red bars behind the signalbar and you can see the setup in realtime. For me it looked like a god setup.

Sry, cant post a chart with my comment. Im not in front of my laptop. Just online via tablet. No trading today.

EU was a bit risky. There was big resistance in front. Thats why i closed the trade quick. Otherwise i try to let it run.

Have a great day!
  • #10,263
  • Edited 3:04am Aug 23, 2012 2:53am | Edited 3:04am
Quoting Clean Chart
Hi Guys

Got two trades today. Was just about 1 hour in front of the screen.

2 times long because of the pinbarsetup. Made some money.

But i am struggling with my trading. Dont know exactly what i am doing wrong. Most trades are stops and the trades i dont take become big runner.
Hope you guys are doing better. I´m going to review my journal at the end of this month.

Many pips to all of you!
Hi Chris,
I like your EU trade. About other trades when you caught the stop loss:
1) Try to rely more on 1D TF then > 4H > 1H > and only then look to pin point the entry on 15M.
2) If you want you can post all your bad trades here (let say for a month), so we can look at it together. It should be not a lot of trades bcz we don't need more then 3 trades a day to make money. (Just my opinion)
Alec
Look for reasons not to take a trade.
  • #10,264
  • Aug 23, 2012 3:02am Aug 23, 2012 3:02am
How far up EU can go?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu201208231.gif Size: 31 KB
Click to Enlarge Name: eu201208232.gif Size: 30 KB
Look for reasons not to take a trade.
  • #10,265
  • Aug 23, 2012 3:56am Aug 23, 2012 3:56am
Quoting Clean Chart
Hi Guys

Got two trades today. Was just about 1 hour in front of the screen.

2 times long because of the pinbarsetup. Made some money.

But i am struggling with my trading. Dont know exactly what i am doing wrong.
About EC trade:
The setup looks good to me. I believe it was just not enough volume to push the price higher at that time bcz a lot of traders were waiting for FOMC news on the side lines.
Just my opinion. So it was just one of those, didn't work out.
may be Master Sho or other traders can share their opinion about this one.
I'm glad you finish your day at positive territory.
Look for reasons not to take a trade.
  • #10,266
  • Aug 23, 2012 6:55am Aug 23, 2012 6:55am
AU short after PB at 10 EMA
Attached Image (click to enlarge)
Click to Enlarge Name: 23rd Aug AU 15m Chart.jpg Size: 96 KB
  • #10,267
  • Aug 23, 2012 7:17am Aug 23, 2012 7:17am
Quoting stevepatt
AU short after PB at 10 EMA
Out for BE didn't like the bullish inside bar
  • #10,268
  • Edited 9:00am Aug 23, 2012 7:20am | Edited 9:00am
Quoting stevepatt
AU short after PB at 10 EMA
Hi Steve,
Welcome back!
May be I'm wrong but this level looks very important to Aussie and it's about 60% pullback on 4H TF.
Alec
Attached Image (click to enlarge)
Click to Enlarge Name: au201208231.gif Size: 27 KB
Look for reasons not to take a trade.
  • #10,269
  • Aug 23, 2012 9:37am Aug 23, 2012 9:37am
Quoting overseaz
Hi Steve,
Welcome back!
May be I'm wrong but this level looks very important to Aussie and it's about 60% pullback on 4H TF.
Alec

Hi Alec,

That's right it is at a 61.8% Fib level on the 4h TF.

There may always be some reason not to take a trade if you look hard enough. As long as I can see a good reason to take a trade on the TF I'm trading and see enough room to reach at least a 1:1 TP I'm happy to trade.

Steve
  • #10,270
  • Aug 23, 2012 10:20am Aug 23, 2012 10:20am
Quoting stevepatt
Hi Alec,

That's right it is at a 61.8% Fib level on the 4h TF.

There may always be some reason not to take a trade if you look hard enough. As long as I can see a good reason to take a trade on the TF I'm trading and see enough room to reach at least a 1:1 TP I'm happy to trade.

Steve
That's a good approach, I like it!
Look for reasons not to take a trade.
  • #10,271
  • Aug 23, 2012 10:34am Aug 23, 2012 10:34am
Quoting stevepatt
There may always be some reason not to take a trade if you look hard enough. As long as I can see a good reason to take a trade on the TF I'm trading and see enough room to reach at least a 1:1 TP I'm happy to trade.
Right Steve!
  • #10,272
  • Aug 23, 2012 4:11pm Aug 23, 2012 4:11pm
Quoting stevepatt
AU short after PB at 10 EMA
In this AU , you say you went B/E. Each of these last 2 impulse moves were basically stopped by a Bullsh IB. Is this what you meant when making your decision ? All of these little tips you guys give meaningful & much appreciated by us juniors ( lol )
Have a great weekend everyone. I'm off to my dads birthday today so its a long weeknd for me. See you Monday.
Brian
  • #10,273
  • Aug 24, 2012 3:25am Aug 24, 2012 3:25am
Pinbar setup
AU short
stopped out
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 319 KB
  • #10,274
  • Aug 24, 2012 3:37am Aug 24, 2012 3:37am
Alomst pinbar setup
AJ short
Attached Image (click to enlarge)
Click to Enlarge Name: aj.jpg Size: 327 KB
  • #10,275
  • Aug 24, 2012 4:43am Aug 24, 2012 4:43am
EU short
Attached Image (click to enlarge)
Click to Enlarge Name: 24th Aug EU 15m Chart.jpg Size: 109 KB
  • #10,276
  • Aug 24, 2012 5:19am Aug 24, 2012 5:19am
Quoting Clean Chart
Alomst pinbar setup
AJ short
Hi Clean Chart,

Easy with hindsight I know, but the setup on AJ was much stronger than the one on AU as you can see from the chart below.

I only tend to trade EU/AU and GU simply because I find it hard to watch more pairs than this and because they have the smallest spreads.
Attached Image (click to enlarge)
Click to Enlarge Name: 24th Aug AJ 15m Chart.jpg Size: 73 KB
  • #10,277
  • Aug 24, 2012 5:53am Aug 24, 2012 5:53am
Quoting stevepatt
EU short
Hi Steve,

I almost took the same trade, but was hesitating bcz Demand zone was too close. I entered eventually on the IB breakout when price was below 10sma and PA finaly convinced me to enter.
I didn't collect as much pips as you probably did, but I'm happy with 13 pips profit on Friday I only watching 3 pairs like you are.
Have a good week-end guys!
Many pips to all members here.

Alec
Attached Image (click to enlarge)
Click to Enlarge Name: au201208241.gif Size: 20 KB
Look for reasons not to take a trade.
  • #10,278
  • Aug 24, 2012 6:07am Aug 24, 2012 6:07am
Quoting Clean Chart
Alomst pinbar setup
AJ short
Closed AJ
Attached Image (click to enlarge)
Click to Enlarge Name: close.jpg Size: 288 KB
  • #10,279
  • Aug 24, 2012 6:18am Aug 24, 2012 6:18am
Quoting overseaz
Hi Steve,

I almost took the same trade, but was hesitating bcz Demand zone was too close. I entered eventually on the IB breakout when price was below 10sma and PA finaly convinced me to enter.
I didn't collect as much pips as you probably did, but I'm happy with 13 pips profit on Friday I only watching 3 pairs like you are.
Have a good week-end guys!
Many pips to all members here.

Alec

Hi Alec,

I saw the demand but thought there was a good chance it would break after so many visits to it yesterday and the small bounce from it today which stalled at the 50 ema and 1.25500 RN.

I'm looking to let this one run if you look on 1h chart there is plenty of room to the downside. I'll be watching the 1.25000 RN but hope to see it reach support at 1.24880.
Attached Image (click to enlarge)
Click to Enlarge Name: 24th Aug EU 15m Chart 2.jpg Size: 104 KB
  • #10,280
  • Aug 24, 2012 6:55am Aug 24, 2012 6:55am
Quoting stevepatt
Hi Alec,

I saw the demand but thought there was a good chance it would break after so many visits to it yesterday and the small bounce from it today which stalled at the 50 ema and 1.25500 RN.

I'm looking to let this one run if you look on 1h chart there is plenty of room to the downside. I'll be watching the 1.25000 RN but hope to see it reach support at 1.24880.
You are right. I exited too early again.
Look for reasons not to take a trade.
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