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CHOROS System

  • #14,641
  • Oct 11, 2019 6:43am Oct 11, 2019 6:43am
Quoting Forex5151
Heads up for next week, check GBPUSD on the weekly chart and look where it is at. Could be potential for a massive short
All TFs point to up side, except weekly and monthly. scalp short ok. Seems a dead end on Weekly EMA50, but it too strong these 2 days, not easy to stop.
  • #14,642
  • Oct 11, 2019 7:12am Oct 11, 2019 7:12am
Price is way too overextended from the moving averages on the 1hr, 4hr, daily timeframe so there is bound to be a big correction. I would like to see a reveral on the 15 min timeframe with the moving averages on the 1hr sloping downward before i consider shorting it. Will have to sit patiently for signs of weakness.
  • #14,643
  • Oct 11, 2019 8:39am Oct 11, 2019 8:39am
UC +16 pips. I was waiting for EMA10 touch, but it too weak to retrace that high, shorted after 2 red bars.
Attached Image (click to enlarge)
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  • #14,644
  • Oct 11, 2019 8:47am Oct 11, 2019 8:47am
Quoting Forex5151
Heads up for next week, check GBPUSD on the weekly chart and look where it is at. Could be potential for a massive short
This is exactly the trade I have taken (outside of my regular trading schedule).

- That weekly steep 35/50 on top of each other that it touched
- Cofluence with big RN
- It is sooo much overbought
- The probability of positive political outcome of brexit within the expected deadline is low

What goes up must come down... Lets see.

Best,
J.
  • #14,645
  • Oct 12, 2019 6:23am Oct 12, 2019 6:23am
If you spot perfect dance long setup, for example 35/50 first touch, steep, & close, HTF ok, etc. - would you still take it if you realized that it was about to happen after double top?
  • #14,646
  • Oct 13, 2019 8:34pm Oct 13, 2019 8:34pm
I would still take it but with with a smaller risk. I normally risk 1% per trade so i'd maybe take that with a 0.5% risk
  • #14,647
  • Oct 13, 2019 8:37pm Oct 13, 2019 8:37pm
Not apart of the conventional dance setup but DAX looks like a great short today. It's at a massive area of resistance (check 4 hr timeframe) that also happens to be a major round number 12500.0. Also has had strong rejection wicks
  • #14,648
  • Edited 7:53am Oct 14, 2019 3:22am | Edited 7:53am
Quoting Forex5151
Not apart of the conventional dance setup but DAX looks like a great short today. It's at a massive area of resistance (check 4 hr timeframe) that also happens to be a major round number 12500.0. Also has had strong rejection wicks
...unfortunately it´s a fu..ing long market.




Guido
Risiko birgt immer auch die Chance.
  • #14,649
  • Oct 14, 2019 7:44am Oct 14, 2019 7:44am
Quoting Forex5151
Not apart of the conventional dance setup but DAX looks like a great short today. It's at a massive area of resistance (check 4 hr timeframe) that also happens to be a major round number 12500.0. Also has had strong rejection wicks
Looks bullish like hell according to the dance. The factors you have mentioned would only make me cosider not to go long. But never short within the dance.
  • #14,650
  • Oct 14, 2019 10:01am Oct 14, 2019 10:01am
Quoting Jkdt
{quote} This is exactly the trade I have taken (outside of my regular trading schedule). - That weekly steep 35/50 on top of each other that it touched - Cofluence with big RN - It is sooo much overbought - The probability of positive political outcome of brexit within the expected deadline is low What goes up must come down... Lets see. Best, J.
Closed @TP 126 pips.
Possibly one of the be best looking 35/50 weekly touch on GU ever.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 209 KB
  • #14,651
  • Oct 14, 2019 10:33am Oct 14, 2019 10:33am
Quoting Jkdt
{quote} Closed @TP 126 pips. Possibly one of the be best looking 35/50 weekly touch on GU ever. {image}
Excellent catch my friend !
The higher the TF the stronger the reaction...

P.S. It was also confluence with Daily SMA 200 so very strong confluence with Weekly 35/50 and RN
  • #14,652
  • Oct 14, 2019 1:36pm Oct 14, 2019 1:36pm
Quoting kostas1
{quote} Excellent catch my friend ! The higher the TF the stronger the reaction... P.S. It was also confluence with Daily SMA 200 so very strong confluence with Weekly 35/50 and RN
Thanks!
  • #14,653
  • Oct 15, 2019 12:41am Oct 15, 2019 12:41am
At 9.15am 15/10 the GU sold off on the W1 graph.
  • #14,654
  • Oct 15, 2019 1:02am Oct 15, 2019 1:02am
GU at 10am 15/10 getting ready to sell of the MN
  • #14,655
  • Oct 16, 2019 7:16am Oct 16, 2019 7:16am
Quoting kostas1
{quote} Excellent catch my friend ! The higher the TF the stronger the reaction... P.S. It was also confluence with Daily SMA 200 so very strong confluence with Weekly 35/50 and RN
I've read your thread since last week, youre result is amazing.
HoweverI can not afford to trade from 6am to 3pm GMT like you, I can only trade from 10 am to 3pm GMT. Does that period of time provide enough trades for 30 per day like you do?
And how do you cope with impatience and trigger happy, kostas?
  • #14,656
  • Oct 16, 2019 8:29am Oct 16, 2019 8:29am
The time does not matter. Most important is patience and discipline to wait for the correct set ups. If one cannot control oneself then one cannot be profitable. You need to learn and practice before spending your hard earned money
  • #14,657
  • Oct 16, 2019 10:56am Oct 16, 2019 10:56am
Dear fellow traders,

Recently GU move very crazy, a lot of 60-100 pips M15 bars, please be careful when you trade it or use small position.
  • #14,658
  • Oct 16, 2019 12:03pm Oct 16, 2019 12:03pm
Quoting larryw
Dear fellow traders, Recently GU move very crazy, a lot of 60-100 pips M15 bars, please be careful when you trade it or use small position.
Until brexit situation stabilizes anything can happen.
  • #14,659
  • Oct 16, 2019 3:10pm Oct 16, 2019 3:10pm
Am I correct to think that if we have a trend in M15 and even in H1 but 35/50 are completely flat in H4, then we might shoot from M15 if the setup is good but than it should be only aimed at quick pips as the H4 range could quickly reverse on us? Of course assuming certain distance to H4 35/50 which are not in the way but just flat.
  • #14,660
  • Oct 16, 2019 10:33pm Oct 16, 2019 10:33pm
Quoting Jkdt
Am I correct to think that if we have a trend in M15 and even in H1 but 35/50 are completely flat in H4, then we might shoot from M15 if the setup is good but than it should be only aimed at quick pips as the H4 range could quickly reverse on us? Of course assuming certain distance to H4 35/50 which are not in the way but just flat.
Sounds about right.
If you trade the M15 then adjust SL, TP for M15. You need to keep an eye on the higher TFs but you focus on M15.
For trading higher TFs you need more patience and bigger SL, TP.
For big moves like what is happening to GU these days the bigger TFs are better since the Daily, H4, H1 35/50 are more respected than M15 (with this order of importance).
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