Price Action Trading Method.

[TraderDude]

Alright , so there is some interest in the thread. I will be continuing...

Note i will be posting whatever i want...

if anyone has a problem with the thread going forward, they can just stop visiting the thread. period.

 

[TraderDude]

Interesting day today....

 

[adityasaraf007]

Crude:

Hi TD, Crude faced the hurdle of our Horizontal Resistance for 2 consecutive days and then broke it emphatically..... In the process, also gave us an Outside Bar with Bullish Sentiments..... Whats your take on this.....

BTW, because of yesterday's emphatic move and today's subdued action till now, it seems to have formed a Bullish Flag on 60min Chart..... Breaking the Upper Range of Flag can take it to 111 odd level......

 

[TraderDude]

My take on crude oil..

 

[timepass]

Lend it to someone who has a Margin shortfall of 200 bucks.... and earn interest...!!!

Oye.. I just read it. I added Rs. 500 to it and earned Rs. 39 on it today

 

[4xpipcounter]

TD, nice thread. Obviously, I'll be subscribed after this post.
I have been doing a similar series in my thread. The approach is about as simple as things get. It requires some patience and even leaving some pips on the table, but it is highly effective. I like the idea that many times the trade is entered and there is hardly a pullback.

BTW, I think you, Eagle, and many others are aware that the same patterns you are exhibiting in this thread can be seen on all TF's, and are also tradeable. In support of what you are conveying, the opportunities come up on the daily, weekly, or whatever, but I'm sure your point is that your method is also showing the wherewithal to grab those quick pips. The biggest difference is on the 5-min, you have to have an extremely quick finger and brain to go with it. With the daily on up, patience has to be exhibited.

Let me add something to what you were talking about with regard to account size and trading the dailies.
Many times it is necessary to have wider stops in using the daily. Some opportunities I like in using this method is using different TF's as a confluence. Let's say an S or R appears at the exact point on the hourly and 4-hour as on the daily. Then, go back to the hourly for the entry, set the stop according to the hourly, and then track the trade on the daily.

 

[TraderDude]

TD, nice thread. Obviously, I'll be subscribed after this post.
I have been doing a similar series in my thread. The approach is about as simple as things get. It requires some patience and even leaving some pips on the table, but it is highly effective. I like the idea that many times the trade is entered and there is hardly a pullback.

BTW, I think you, Eagle, and many others are aware that the same patterns you are exhibiting in this thread can be seen on all TF's, and are also tradeable. In support of what you are conveying, the opportunities come up on the daily, weekly, or whatever, but I'm sure your point is that your method is also showing the wherewithal to grab those quick pips. The biggest difference is on the 5-min, you have to have an extremely quick finger and brain to go with it. With the daily on up, patience has to be exhibited.

Let me add something to what you were talking about with regard to account size and trading the dailies.
Many times it is necessary to have wider stops in using the daily. Some opportunities I like in using this method is using different TF's as a confluence. Let's say an S or R appears at the exact point on the hourly and 4-hour as on the daily. Then, go back to the hourly for the entry, set the stop according to the hourly, and then track the trade on the daily.

Totally agree with you on confluence of lower TF and setting SL there...

welcome to my thread.:thumb:

 

[TraderDude]

You have to take what the market gives you...

 

[4xpipcounter]

With the recent dip made and the impulsive move from it, it makes 143.37 an easy target, and then most likely, the swing high at 143.84 will be broken, as this market wings its way to 144.90. There does not appear to be much R once 143.84 is broken.

Before 143.84 is broken, I would look for a correction back to your TL before the UP continues.

You have to take what the market gives you...

 

[TraderDude]

With the recent dip made and the impulsive move from it, it makes 143.37 an easy target, and then most likely, the swing high at 143.84 will be broken, as this market wings its way to 144.90. There does not appear to be much R once 143.84 is broken.

Before 143.84 is broken, I would look for a correction back to your TL before the UP continues.

i continue to watch it..i know there will be another opportunity. But at that point, i could not stomach losing the profits i made on that trade. Hence psychology comes in to picture.

In trading , you can give a person the exact entry and exit points, but it is his psychology that will make or break that trade.