Price Action

[yogibear]

Yea, I would wait for a pullback, it's always tempting to buy into a "runaway" market, but that's not generally the best course of action.

Yes, absolutely!

[yogibear]

Although i didn't get the pinbar on my feed, a good indication of a decent sized move coming up, was the fact that the ma's on my chart, were all bunched up, very close together. When that happens, you can usually count on a decent move. You can see at 1st April, they were intertwined. Then around 20 april, the ma's come back near each other. Again, a heads up that price may move significantly.
It happened again early may.

[yogibear]

Managed to get some pips on the shorter time frames today, on Aus/usd and Nat Gas.
The gas was the better trade.
On the 4 hr, price came back down to the demand zone.
Switched to 15 min to monitor price action,and you can see it entered slowly, before printing a bullish engulfing.
That was the signal to go long. Worked out nicely.

[trade4life]

Although i didn't get the pinbar on my feed, a good indication of a decent sized move coming up, was the fact that the ma's on my chart, were all bunched up, very close together. When that happens, you can usually count on a decent move. You can see at 1st April, they were intertwined. Then around 20 april, the ma's come back near each other. Again, a heads up that price may move significantly.
It happened again early may.

Yes, when the EMA's get "bunched up" like that it is generally a sign of consolidation, and consolidation typically precedes break outs.

[trade4life]

Managed to get some pips on the shorter time frames today, on Aus/usd and Nat Gas.
The gas was the better trade.
On the 4 hr, price came back down to the demand zone.
Switched to 15 min to monitor price action,and you can see it entered slowly, before printing a bullish engulfing.
That was the signal to go long. Worked out nicely.

Cool, I only look at the 1hr chart and above, but if you can get some value out of the 15 minute more power to you! Those small time frames personally drive me crazy though!

[yogibear]

Cool, I only look at the 1hr chart and above, but if you can get some value out of the 15 minute more power to you! Those small time frames personally drive me crazy though!

Well, the trade was actally based off 4 hr chart, which i posted. I only drop to the 15 min, to monitor price action, and fine tune the entry.
It's funny, and Sniper made this point on his harmonic thread. He has been having some success, which goes against conventional wisdom, on the short term charts, rather than the longer term charts.
Conventional wisdom tells us that signals are more reliable on the longer chart, less whipsaw etc.
I'm watching a thread that blows that supposition out of the water. I see traders on 5 and 15min charts, who are consistenly profitable. While i'm waiting for a decent signa on the dailyl, those guys are just trading, multiple trades a day, and making money. Small stoplosses, good risk ratio.
Makes you wonder.

[yogibear]

Trades-

The Eur/cad bullish engulfing,that i posted, finally triggered today. Off the up trendline, with support from the ma's.
Profit target, 10 pips below the previous high in mid march was hit. Nice triple pips profit.

Cad/yen
All the yen pairs posted the same pattern. I took cad/yen due to the location on the chart. It had closed below potential support. the other yen pairs were heading into support.
Profit target- 10 pips above the 20ma. Profit target hit. +140 pips

Short term trades
Took quite a few. It definitely requires a different mindset.
The best was SP500 mini future.
Price came back to the demand zone from late march. I've posted the 1 hr chart because it shows it more clearly.
Dropped down to 15min chart to monitor. Price reacted, profit target was previous area of consolidation.
A nice trade.

I will post my charts as a summary at the end of day, i've posted enough live charts.
Hopefully someone finds them useful.

[sniper012]

this was a pretty good move from today. this is a 1 hour chart. the yellow line is last week's close and as always, I have pivot points on my chart as well. these are weekly pivots however. this is a classic inside bar with confirmation. green candle followed by a red candle. the 2nd red candle takes out the low of the first 2 candles. now we wait for the 4th candle to break the low of the 3rd candle by a few pips and we get short. took 60 pips and go out at the first support level.

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[yogibear]

Good trading sniper, you've got those inside bars down cold.
Took a few short term trades today.
First was a short on the CAC 40. I marked off the gap, where obviously supply and demand are at extremes. Price came back, dropped down to monitor pa, and shorted.

Wheat- trade is open- price returned to demand zone, this is basically a scalp.

S&P mini- again price returned to the demand zone, but a much more risky trade, as there was no supporting pa, making it a touch trade.

On the daily, i'm not reading the charts right. there was good pa recently, but i missed it. Don't know if it's because i'm concentrating on new methods. Tonight, aus/nz has printed a hammer off the channel, although it is a bit anaemic. I might put in an order, with half stakes. my confidence is shot.

Its interesting that with all the short term trades, in terms of pips, they don't add up tp one decent daily trade. Its what they say, pyschology plays a huge part in trading. Maybe i'm not cut out for intraday trading.I'm giving it till the end of the month, and will see then.

[BudFoxFx]

If you think you're thread is the best, i agree you're thread is the best.
Have you posted a live trade ? Have you given details and reasoning for the trade??
Piss off, you're a muppett!! Start trading, or shut the hell up. Wannabee. Probably never taken a real trade in your life. Pathetic!!! Yes, you're still the best thread, happy??

I enjoy your threads in equal portions

[yogibear]

I enjoy your threads in equal portions

****.
Don't even remember posting that.
Must have had a pretty large position in whisky that night
Apologies, no offense intended.

[lktr0926]

Well, the trade was actally based off 4 hr chart, which i posted. I only drop to the 15 min, to monitor price action, and fine tune the entry.
It's funny, and Sniper made this point on his harmonic thread. He has been having some success, which goes against conventional wisdom, on the short term charts, rather than the longer term charts.
Conventional wisdom tells us that signals are more reliable on the longer chart, less whipsaw etc.
I'm watching a thread that blows that supposition out of the water. I see traders on 5 and 15min charts, who are consistenly profitable. While i'm waiting for a decent signa on the dailyl, those guys are just trading, multiple trades a day, and making money. Small stoplosses, good risk ratio.
Makes you wonder.

I think it's really a question of how much time do you want to spend watching the charts. Some people don't have the time to trade the 5 or 15 minute charts, so the 4hr and daily charts make a lot more sense; they don't involve as much sitting and watching, etc. I have personally found that just letting trades run for a few days or weeks makes me the most money and is the least stressful.

[lktr0926]

There some interesting pin bars on the JPY pairs to kick off this upcoming trading week, however, I'm not sure I like them because most of them have a closing price lower than the opening price and momentum was falling into the end of the week, still something to watch though.

[trade4life]

There some interesting pin bars on the JPY pairs to kick off this upcoming trading week, however, I'm not sure I like them because most of them have a closing price lower than the opening price and momentum was falling into the end of the week, still something to watch though.

Wow, I guess those pins didn't work out! All the JPY pairs sold off pretty hard today on the back of a very risk-averse day across all the markets.

[trade4life]

I think it's really a question of how much time do you want to spend watching the charts. Some people don't have the time to trade the 5 or 15 minute charts, so the 4hr and daily charts make a lot more sense; they don't involve as much sitting and watching, etc. I have personally found that just letting trades run for a few days or weeks makes me the most money and is the least stressful.

That seems to work best for me too, "set and forget" trading.

[trade4life]

****.
Don't even remember posting that.
Must have had a pretty large position in whisky that night
Apologies, no offense intended.

Hahaha, I sometimes also take large positions in whisky.

[lktr0926]

Wow, I guess those pins didn't work out! All the JPY pairs sold off pretty hard today on the back of a very risk-averse day across all the markets.

Yea, markets are pulling back this week it seems. I'll be looking for something to form near support. In other news...the metals markets are going crazy? I've made some serious money in Silver the last few weeks, anyone else on board here?

[sniper012]

there has been a TON of price action trades so far this week! Check out your 4hr charts.

[ExclusiveForex]

Going through the charts, it seems that there could be some interesting price action developing.#

Cable - Weekly Chart.
Price has closed above potential resistance, and has also broken through the downtrend line. The ma's are also providing support. They are close together, and usually don't like to be near each other for too long.
Will watch daily for pa.

Eur/Usd - Weekly Chart.
Similar story to cable.

Thanks for the information

[yogibear]

I think it's really a question of how much time do you want to spend watching the charts. Some people don't have the time to trade the 5 or 15 minute charts, so the 4hr and daily charts make a lot more sense; they don't involve as much sitting and watching, etc. I have personally found that just letting trades run for a few days or weeks makes me the most money and is the least stressful.

I agree. I also think that on the lower time frames, there's a temptation to overtrade, or at least thats what i've found.
Price action has been a lot better lately.