Price Action Scalping

[billyd]

Only one i caught today. liked the way prices got squeezed above the 20 EMA on the end.

 

[Mike Kshemaraja]

Only one i caught today. liked the way prices got squeezed above the 20 EMA on the end.

Good trade.

 

[Mike Kshemaraja]

I am just getting ready for the day, just drawn my support/resistance line plus my round numbers one.

 

[foxmajster]

I am just getting ready for the day, just drawn my support/resistance line plus my round numbers one.

Looking at the picture I would say this was yesterdays chart ??

 

[Mike Kshemaraja]

Looking at the picture I would say this was yesterdays chart ??

LOL, I think you are right. Here we go

 

[Mike Kshemaraja]

My first trade of the day was a scratch +1 pip.

My initial Sl was 7, than 5.

 

[Mike Kshemaraja]

Second trade:

Easy peasy , I may comment this later when I am not trading or maybe you can comment for us if you like, anyone?

My initial SL was 5 pips, 2% in the pocket.

 

[Mike Kshemaraja]

I think the now market is waiting for a news announcement, due in one hour and 10 minutes, not sure.

 

[Mike Kshemaraja]

I find it is good to start the day with winning trades, he gives me the possibility to choose the following trades, meaning I will go more for setups with less risks in the manner or pips.

 

[Mike Kshemaraja]

Second trade:

Easy peasy , I may comment this later when I am not trading or maybe you can comment for us if you like, anyone?

My initial SL was 5 pips, 2% in the pocket.

Ok I am having a break from trading, waiting for the news to come out, lets comment my second trade:

The price broke out of the BB pattern just below the 1.3120, which I did not take because of the various resistance on the left.

Then another block formed just above the 1.3120, which I did not take because a bit too far away from the average, the price then broke above just to pull back at the previous block and formed an SB pattern.

I was very confident about this trade because of the 2 pattern that were protecting my SL.

 

[foxmajster]

Nice one.
I was looking at the box below 20 area but did not take the buy at the break it because of the previous resistance.

 

[Mike Kshemaraja]

My first trade of the day was a scratch +1 pip.

My initial Sl was 7, than 5.

Comment of the first trade:

She broke the barrier without pre-tension, formed an ARB, in, just below the 1.31 number, initial SL and TP set at 10 (bracket orders), then trail my SL to 7 and 5.

Also formed a DD with the pullback.

I was up 5 pips just before LO,then she stalled and told me that she did not want to dance with me anymore, I was not sure to belevie her or not, at the end I believed and took one pip. You know, she is like that, once she make up her mind..:whistling

 

[Mike Kshemaraja]

Nice one.
I was looking at the box below 20 area but did not take the buy at the break it because of the previous resistance.

Yes, I think I skipped that as well, an IBR, never mind.

 

[Mike Kshemaraja]

Oanda widen the spread to 15 pips during the announcement, unbelievable.

That's why is not good to be in, when this occurs.

 

[Mike Kshemaraja]

She is drifting slowly sideways-down, I have been monitoring for about 2 hours since the news announcement, but could not see anyway how to squeeze some juice out of it. Well this is all part of the business.

 

[Mike Kshemaraja]

She is very slow, well I am out of here.

Fox, what happen to Chart? I have not seem him for a while with his nice details explanations.

Take care.

 

[foxmajster]

She is very slow, well I am out of here.

Fox, what happen to Chart? I have not seem him for a while with his nice details explanations.

Take care.

No idea but I am sure he is not far away.
No trades for me today and going for a short business trip, hope a catch some time to drop by.
btw: Mike did you tried trading on live Hirose account? If so, how is the performance - execution time, slippage?

 

[Charticist]

She is very slow, well I am out of here.

Fox, what happen to Chart? I have not seem him for a while with his nice details explanations.

Take care.

I am sorry for not being around but am busy trying to understand the compexities of the US tax code and will be back tomorrow.

The journaling aspect of the thread has been quite invaluable (both reading but more importantly in writing).

I have been playing around with 350 tick chart, trying "multiple tick frame analysis", for instance looking for a DD on 350 tick that correlates with a BB on the 70 tick frame, but it might be too much to take in at one time.

Chart

 

[Mike Kshemaraja]

No idea but I am sure he is not far away.
No trades for me today and going for a short business trip, hope a catch some time to drop by.
btw: Mike did you tried trading on live Hirose account? If so, how is the performance - execution time, slippage?

Fox

Till now they seem ok, when I start with a new broker, I tend to look at the demo, than if satisfied I inject a bit of money in it and take it from there.

Have a nice trip.

Mike

 

[Mike Kshemaraja]

I am sorry for not being around but am busy trying to understand the compexities of the US tax code and will be back tomorrow.

The journaling aspect of the thread has been quite invaluable (both reading but more importantly in writing).

I have been playing around with 350 tick chart, trying "multiple tick frame analysis", for instance looking for a DD on 350 tick that correlates with a BB on the 70 tick frame, but it might be too much to take in at one time.

Chart

Chart

Is the 70 tick chart not working for you? Are you a full time trader?

Mike