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Forex intraday using the 5min chart: EURUSD 108 replies

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Attachments: 5Min Intraday System
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5Min Intraday System

Here's my trade for the day. I knew before the candle opened that if price pulled back into the war zone, I would take it. Price pulled back in then immed. drop. Closed 80% of the trade after 10 pips, left 20% open but closed it for 6 pips. My second profit was 4700, but closed it early because of all the tails down
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-10 pips so far this morning. Went for the bullish 3, with my stop below the 21.
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  • #6,864
  • Quote
  • Sep 25, 2009 12:41pm Sep 25, 2009 12:41pm
Three little sisters for +10 pips
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What happened to this thread and to all the great posters?!

here are my entries from today. There were two nice power bars in the zone. I enter right after the vertical line. I was lucky in the first trade that I didn't jumped in exactly with the bar opening but a couple of pips above. The second trade was a bit risky because the 50MA become flat and also the angle of SMAA wasn't right,but the signal candle was too strong to stay in the sideline.
sl 12pips - closed each for 25pips.
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Some still here. I was not awake during your 1st set up and the 50 MA was flat for the second. Glad you made some pips
Raymond


Quoting Pipmaniac
What happened to this thread and to all the great posters?!

here are my entries from today. There were two nice power bars in the zone. I enter right after the vertical line. I was lucky in the first trade that I didn't jumped in exactly with the bar opening but a couple of pips above. The second trade was a bit risky because the 50MA become flat and also the angle of SMAA wasn't right,but the signal candle was too strong to stay in the sideline.
sl 12pips - closed each for 25pips.
I am still using the principles of this system but I do use other signals as well. That is why I don't really post here anymore. I don't want to confuse the members.

I hope everybody is still enjoying the trading.
Willem Forex recipe for success = Patience, discipline & hard work.
Just had a Skype chat with one of the members and we had a nice few setups today on the EURO. I didn't take them because I don't like to trade at the end of the Asian session going into the London session. Got burned too many times trying to trade those session.

Just to show you one of my favourite signals - resistance turning into support and vica versa.

Enjoy the trading
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Willem Forex recipe for success = Patience, discipline & hard work.
I am trying to down load the SMA indicator is in a .ex4 setting. For some reason I can not download anything with that ending. What can I do to get that downloaded? Sorry for such a simple question.
A woman drove me to drink, and I forgot to thank her
Quoting Golfer
Just had a Skype chat with one of the members and we had a nice few setups today on the EURO. I didn't take them because I don't like to trade at the end of the Asian session going into the London session. Got burned too many times trying to trade those session.

Just to show you one of my favourite signals - resistance turning into support and vica versa.

Enjoy the trading
Hi,Golfer
What's the chat name? may I join in it?

Best regard
+13 pips
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Quoting yuyudada
Hi,Golfer
What's the chat name? may I join in it?

Best regard
Hi Y and other members

It was just a private chat with member with a serious interest in the 5min system. I am just giving advice and evaluating his setup & trades.

I am no longer part of the 5min Skype chat because there were too many private chats between members on that chat. One cannot focus on trades when other members are having private chats.

So I left that chat.

Sorry but some members were more interested in other stuff than the setups of the 5min system. Not my style.
Willem Forex recipe for success = Patience, discipline & hard work.
Here's a trade for the day. Price found support on the 21 and previous resistance turned into support. Entered on the candle with the arrow and exited for 11 pips.
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Loss of 6 pips. Reasons for the trade are resistance is now support (red horizontal line) and price in the war zone. I moved my stop up after that bullish candle and it was hit. This one did not sting so badly b/c it was only 6 pips and I did well on a 4 hr trade on the GBP. I think I'm done for the day.
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Over the weekends I do review my trades and charts saved. I came across this nice example on Cable which I saved.

During the past few months I've come to recognise the importance of horizontal support and resistance as well as "trend lines". This is just one example thereof.
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Willem Forex recipe for success = Patience, discipline & hard work.
Another example to show the importance of significant price levels (bold pink lines) as well as small trend lines (thin pink lines). Also a few triangles formed with breakout trades.

This trade was done without the MACD.
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Willem Forex recipe for success = Patience, discipline & hard work.
Just another example.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,878
  • Quote
  • Oct 21, 2009 12:03am Oct 21, 2009 12:03am
Another few great setups with price actions at certain levels.

Enjoy.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,879
  • Quote
  • Oct 21, 2009 12:09am Oct 21, 2009 12:09am
This one didn't work out because we were close to the 21MA on the 4h MACD system. Go a few pips out of it.
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Willem Forex recipe for success = Patience, discipline & hard work.
It seems to be a good system, can you tell us what program you use to open your files, i cant open with anyone. Thank you
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