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CHOROS System

  • #14,761
  • Nov 13, 2019 2:18am Nov 13, 2019 2:18am
Same here Gregab. I appreciate your willingness to contribute but too many posts too little charts, too much philosophical and mentoring tone with too little experience. Dont take it the wrong way though, nothing personal. Wish you best of luck
  • #14,762
  • Nov 13, 2019 12:12pm Nov 13, 2019 12:12pm
Quoting Jkdt
Lets see how this turns out. 35/50 touch M15 + scoop down on H4 with wide spread 35/50 after double top. SL 21 just above the DP and minor RN, TP 30 just above the major RN. Also DAX has bounced off its historical highs from 2 yrs ago and I don't think there are fundamental reasons with the current economical situation in Germany to push higher than that. That's really strong resistance it just bounced from up there. You can't see it yet in the screenshot but that pibar closed now exactly like that which hopefuly is additional PA confirmation. {image}
That did not exactly go as planned Pretty close on one side but on the other this is one of the most frustrating things in trading. When it does take your stop out and then run exactly where you wanted. Well, it's just an integral part of this game.
Attached Image (click to enlarge)
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  • #14,763
  • Nov 14, 2019 2:22am Nov 14, 2019 2:22am
Would you consider this a valid 10 ema constrainment trade?(not played out yet) Or do you see any warning signs?
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  • #14,764
  • Edited 7:59am Nov 14, 2019 3:20am | Edited 7:59am
Quoting mtruefx
Would you consider this a valid 10 ema constrainment trade?(not played out yet) Or do you see any warning signs? {image}
Basicly yes,
but after these enormeous shoots, I would let the market come down and find a better one.

You don't pick a brown apple even when the other half is still eatable, or?

Constrainments can be very powerful and get build mostly during quiet times.
Risiko birgt immer auch die Chance.
  • #14,765
  • Nov 14, 2019 8:10am Nov 14, 2019 8:10am
A beautiful example of a containment trade happening now on Gbpusd 15,5,H1. Price points down.
  • #14,766
  • Nov 14, 2019 8:18am Nov 14, 2019 8:18am
Quoting Sesamstrasse
{quote} Basicly yes, but after these enormeous shoots, I would let the market come down and find a better one. You don't pick a brown apple even when the other half is still eatable, or? Constrainments can be very powerful and get build mostly during quiet times.
Thanks, yeah make sense. I did not have a good feeling about it as well, so I only took it on demo and it hit SL.
  • #14,767
  • Nov 14, 2019 8:33am Nov 14, 2019 8:33am
Quoting Gragab
A beautiful example of a containment trade happening now on Gbpusd 15,5,H1. Price points down.
Isn't that more of a porcupine? Price going on each side of the MA's
  • #14,768
  • Nov 14, 2019 10:15am Nov 14, 2019 10:15am
USDCHF 1 hour chart - 35 EMA touch
Moved SL to breakeven fast and TP hit after 20 pips (had my TP set as I was not there to watch the trade)
Attached Image (click to enlarge)
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  • #14,769
  • Nov 14, 2019 10:44am Nov 14, 2019 10:44am
On my earlier trade on the Gbpusd all moving averages where close together and flat and at a rn. The three lines because so close together acted as both resistance and once breached support. True containment in this case would have been better if the 35/50 were sloped adding to strength. However that said the price did drop by 30 pips and then reversed and forced its way through the barrier being the 35/50.
  • #14,770
  • Nov 15, 2019 3:06am Nov 15, 2019 3:06am
Quoting Gragab
On my earlier trade on the Gbpusd all moving averages where close together and flat and at a rn. The three lines because so close together acted as both resistance and once breached support. True containment in this case would have been better if the 35/50 were sloped adding to strength. However that said the price did drop by 30 pips and then reversed and forced its way through the barrier being the 35/50.
Any Charts ??
  • #14,771
  • Nov 15, 2019 3:08am Nov 15, 2019 3:08am
EURNZD 1 hour chart - 35 EMA touch
Did not enter directly at the touch first of all because I was not there when it did and second of all because I waited for an entry on the lower timeframe (I have a 'system' for finding an entry).
Closed at +32 pips (still in doubt of how much I can take off these 1 hour touches, so keeping it 'safe' for now), I risked 10 pips so nice 1:3 RR
Attached Image (click to enlarge)
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  • #14,772
  • Nov 16, 2019 7:43am Nov 16, 2019 7:43am
Any comments? Not an AAA entry but still looked fair. Entered from H4 after inside bar and a pin following it. H1 was confirming with PA and a constrainment H1 35 & 10 + DP and major RN just above. WK/MN bearish, daily bullish but previous day closed below 35 & 50. The 35/50 H4 at the time did not diverge that much as later after the trade went wrong and was very steep so was 10. No support below. Was it possible to avoid this loss or was it just one of those trades?
Attached Image (click to enlarge)
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  • #14,773
  • Nov 16, 2019 9:12am Nov 16, 2019 9:12am
The trade was a scoop up with support off the 35/50. The 35/50 were flat and parted when you entered, normally indicating a change in trend or a slowing in direction of the trend
  • #14,774
  • Nov 16, 2019 10:54am Nov 16, 2019 10:54am
Thank you for your opinion Gregab, however there was no 35/50 scoop at the time of taking the trade. Scoop is a more advanced technique so I highly recommend that you study the thread to improve the ability to spot them correctly. 35/50 were not flat, at least not on H4 where the trade was taken from.
  • #14,775
  • Nov 16, 2019 12:48pm Nov 16, 2019 12:48pm
All trades are taken on the 15 minute. The 15 minute is the conductor and the leader.
  • #14,776
  • Nov 16, 2019 1:32pm Nov 16, 2019 1:32pm
Quoting Gragab
All trades are taken on the 15 minute. The 15 minute is the conductor and the leader.
It's good that you have read the thread/manual. But I am in doubt whether you are aware of the reason behind it.
  • #14,777
  • Edited 6:14pm Nov 16, 2019 5:38pm | Edited 6:14pm
Quoting Jkdt
Any comments? Not an AAA entry but still looked fair. Entered from H4 after inside bar and a pin following it. H1 was confirming with PA and a constrainment H1 35 & 10 + DP and major RN just above. WK/MN bearish, daily bullish but previous day closed below 35 & 50. The 35/50 H4 at the time did not diverge that much as later after the trade went wrong and was very steep so was 10. No support below. Was it possible to avoid this loss or was it just one of those trades? {image}
From M15 window point of view, your entry has no problem, 1st 2-bars retrace after PA crossed EMA10, except:

1. there is a support (last day low) 10 pips below your entry, trend may reverse before that.

2. your entry was a bit late. 1st possible entry is EMA10 touch (COB last green bar); 2nd possible entry is EMA10 bounce (COB 2 bars before your entry bar) if you need more confirmation; 3rd possible entry is broke of last swing low which is one bar before your entry.

After your entry, two facts spotted:

1. three red bars and one cross bar after the retrace, both body and height were becoming smaller and smaller, indicating a dry out of selling.

2. the strong green bar (13 pips) made PA above all MAs(10/35/50) which is also the biggest bar of the day, indicating a trend reversal, no reason to hold any longer.

About your exit:

1. AU is a low volatile pair, definitely no need 20 pips SL.

2. 1st possible SL is last swing high which is 6 pips above your entry; 2nd possible SL is EMA10 plus 5 to 10 pips based on pair volatility; 3rd SL is after the COB strong reversal bar. You held losing position way too long!

This is my after-facts analysis, I cannot do better than you in my live trading. Hope this help!

Sorry for the long post.
  • #14,778
  • Edited 3:31am Nov 17, 2019 3:05am | Edited 3:31am
Quoting larryw
{quote} From M15 window point of view, your entry has no problem, 1st 2-bars retrace after PA crossed EMA10, except: 1. there is a support (last day low) 10 pips below your entry, trend may reverse before that. 2. your entry was a bit late. 1st possible entry is EMA10 touch (COB last green bar); 2nd possible entry is EMA10 bounce (COB 2 bars before your entry bar) if you need more confirmation; 3rd possible entry is broke of last swing low which is one bar before your entry. After your entry, two facts spotted: 1. three red bars and one cross bar...
Larryw, thank you for the time you took to write this post. For sure a lot of valuable information. The only issue is I took this trade solely based upon H4, took only a brief glimpse at HTF and used H1 for some sort of confirmation. This is also a reason for wider SL and also the major RN and DP which I wanted to use as resistance before my SL. However, you are fully right regarding last days low. That was super valid, strong support just below which I naively missed. Had I seen this before entering I would for sure not take the trade. Thanks!
  • #14,779
  • Nov 18, 2019 7:29am Nov 18, 2019 7:29am
USDCAD 15 min chart.
Took this trade as a 35 constraintment trade, stopped out at -7 pips.
Any feedback? I do notice that 35&50 MA was a bit seperated.
Attached Image (click to enlarge)
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  • #14,780
  • Nov 18, 2019 7:35am Nov 18, 2019 7:35am
Good day everyone, I'm glad to use forex factory to interact with fellow traders around the world. Wish everybody success in your trading carreer
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