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Intraday price action trend trading

  • #10,281
  • Aug 24, 2012 7:13am Aug 24, 2012 7:13am
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.

Set SL to +15 pips.

It helps if have some idea of what to expect from the PA after price hit the 1.25000 RN I was expecting a bounce back to previous short term support.

I'm looking for momentum to break the 1.25000 RN and carry down to 1.24880 support level.
Attached Image (click to enlarge)
Click to Enlarge Name: 24th Aug EU 15m Chart 3.jpg Size: 87 KB
  • #10,282
  • Aug 24, 2012 7:50am Aug 24, 2012 7:50am
Quoting stevepatt
Set SL to +15 pips.

It helps if have some idea of what to expect from the PA after price hit the 1.25000 RN I was expecting a bounce back to previous short term support.

I'm looking for momentum to break the 1.25000 RN and carry down to 1.24880 support level.
Exited for 5R return.

I don't worry about what the market does now I had a plan and stuck to it that's the important thing.
Attached Image (click to enlarge)
Click to Enlarge Name: 24th Aug EU 15m Chart 3.jpg Size: 82 KB
  • #10,283
  • Aug 24, 2012 8:46am Aug 24, 2012 8:46am
Quoting stevepatt
Exited for 5R return.

I don't worry about what the market does now I had a plan and stuck to it that's the important thing.
Very nice!
Thank you very much Steve for sharing your trades and ideas. I learn a lot.
Look for reasons not to take a trade.
  • #10,284
  • Aug 25, 2012 3:37am Aug 25, 2012 3:37am
Quoting stevepatt
Exited for 5R return.

I don't worry about what the market does now I had a plan and stuck to it that's the important thing.
Great Steve. Looks like you are "trading in the zone" Thats how it should be.

Enjoy the weekend!
  • #10,285
  • Aug 25, 2012 9:16am Aug 25, 2012 9:16am
Here's something to look out for when trading.

If you see the market hit the 50 EMA and there is then PA to make you think it will continue in the direction of the 50 EMA it is a very low risk entry.

You see this happen on all pairs on a regular basis.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 25th Aug AU 15m Chart.jpg Size: 96 KB
Click to Enlarge Name: 25th Aug AU 15m Chart 2.jpg Size: 90 KB
Click to Enlarge Name: 25th Aug EU 15m Chart.jpg Size: 89 KB
Click to Enlarge Name: 25th Aug EU 15m Chart 2.jpg Size: 82 KB
  • #10,286
  • Aug 28, 2012 4:34am Aug 28, 2012 4:34am
AU long
Attached Image (click to enlarge)
Click to Enlarge Name: 28th Aug AU 15m Chart.jpg Size: 99 KB
  • #10,287
  • Aug 28, 2012 5:21am Aug 28, 2012 5:21am
Quoting stevepatt
AU long
Not moving out for 1 pip
  • #10,288
  • Aug 28, 2012 7:07am Aug 28, 2012 7:07am
AU long
Attached Image (click to enlarge)
Click to Enlarge Name: 28th Aug AU 15m Chart 2.jpg Size: 107 KB
  • #10,289
  • Aug 28, 2012 8:28am Aug 28, 2012 8:28am
Quoting stevepatt
AU long
Got suckered into that trade taken out for (1R)
  • #10,290
  • Aug 28, 2012 9:07am Aug 28, 2012 9:07am
Quoting stevepatt
Got suckered into that trade taken out for (1R)
Hi Steve,
Tricky day today. Tomorrow will be a better day.
Look for reasons not to take a trade.
  • #10,291
  • Aug 28, 2012 11:51am Aug 28, 2012 11:51am
Quoting overseaz
Hi Steve,
Tricky day today. Tomorrow will be a better day.
Hi Alec,

EU was the one to be on today, I think AU might be setting up for a big bearish move tomorrow. Will have to wait and see.
  • #10,292
  • Edited Aug 29, 2012 3:16am Aug 28, 2012 1:19pm | Edited Aug 29, 2012 3:16am
Quoting stevepatt
Hi Alec,

EU was the one to be on today, I think AU might be setting up for a big bearish move tomorrow. Will have to wait and see.
I saw 3 posible entry points on EU today. Unfortunately after the fact)
Look for reasons not to take a trade.
  • #10,293
  • Aug 29, 2012 4:05am Aug 29, 2012 4:05am
AU short if we get a break of the 1.03500 RN there's a lot of room for it to move down
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 29th Aug AU 15m Chart.jpg Size: 114 KB
Click to Enlarge Name: 29th Aug AU 4h Chart.jpg Size: 137 KB
  • #10,294
  • Aug 29, 2012 10:05am Aug 29, 2012 10:05am
Quoting stevepatt
AU short if we get a break of the 1.03500 RN there's a lot of room for it to move down
Taken out for (1R)

I wasn't around to monitor the trade so it was set and forget.
  • #10,295
  • Aug 29, 2012 10:29am Aug 29, 2012 10:29am
Short on AU and EU
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 29th Aug AU 15m Chart.jpg Size: 105 KB
Click to Enlarge Name: 29th AUg EU 15m Chart.jpg Size: 96 KB
  • #10,296
  • Edited 12:04pm Aug 29, 2012 10:53am | Edited 12:04pm
Attached Image


Already BE+1, taken some of the table.

Switch to Sell.
Attached Image


Attached Image
  • #10,297
  • Aug 29, 2012 11:03am Aug 29, 2012 11:03am
Attached Image

Almost same type entry like EU.
  • #10,298
  • Aug 29, 2012 11:13am Aug 29, 2012 11:13am
Attached Image


This pair has wide spread .
  • #10,299
  • Aug 29, 2012 2:06pm Aug 29, 2012 2:06pm
Quoting stevepatt
Short on AU and EU
EU trade, possibly one of the worst trades I have taken, spending too much time staring at the computer going to take some time off.

AU trade still running.

See you all later.
  • #10,300
  • Aug 29, 2012 3:58pm Aug 29, 2012 3:58pm
STEVE: Yep, can you describe that EU of yours ? I cannot see what you thought you saw (LOL) I have identified the Aussie. It's hanging on in there still.

PIPMUNKS: Hi there Pip, Just trying to go over the charts & look forward to seeing your take on things. One request if I may - the charts are very clear except for the wicks. My eyes are getting older (LOL) & it would help to see these in a brighter colour. If it disrupts your set up then do not worry. Cheers my friend - look forward to your posts.
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