CHOROS System

Got it.. thanks

UC +35pips, entered on new trend just formed.

in my opinion this trade has nothing to do with choros?

my first dance day..

I believe it is one of the dance type called containment.

ok, hmmm...

USDCHF - 15 min charts

TP hit at 30 pips (risked 10). I had a bad couple of weeks trading the dance, so I'm going to step down for a while and review my own trades

thats definitely a good one!

Hey guys,

I've another question. I've attached an example to illustrate my point, it's EUR/JPY from today. At the indicated arrow I saw price hitting the SMA35 in confluence with a RN. I considered going short but since SMA35 and EMA50 started to separate and it's more than a 2 bar retrace I waited for additional confirmation. That confirmation was given at COB of the next bar (outsidebar).

I don't know about you, but I feel uncomfortable entering at COB of an outside bar, because price already moved away a good portion from the S/R and therefore make Stoploss placement difficult. In this scenario a SL of about 15 pips would have been required, if the SL should be above the original SMA35 Touch. This is okayish in this case (I personally prefer a little smaller SL / better Entrys) but many times with an outside bar price already moved further away and even bigger SL would be necessary. I saw all of this happening and decided against entry at COB of the confirmation candle and instead waited for a little retrace upwards to give me a little better entry with a 10 Pip SL. Seeing how price progressed afterwards now leaves me frustrated, because my analysis was correct just the pullback for a better entry didn't happen.

Did you find that in a scenario like this, the higher MA Bounce scenario is so strong, that you would have taken the trade even if the confirmation is an Outside bar with a COB further away from the initial Touch and maybe even set the stoploss closer and not above the high of the Touch Candle? Or is it better to wait for a pullback like I did, which in this case unfortunately didn't happen but that's just part of the game?

Regards,
Methos

Hello i just wanted to check in and say thank you to everyone, especially Clay and Kostas1 for their contributions to this strategy.
I have been demo trading it for at week with very god succes and increased the demo account with around 35% in 5 days and I'm only on page 71 of the thread so far, imagine what will happen when i reach page 768

I am going to start live trading next week and will probably let you know how it goes.

Cheers!

Edit: going live tomorrow, why wait?!

congratulation mate. Which pairs and which season did you take ?

Thanks!

I have been trying to follow the advices in the original guide by Clay, i only trade GBP/USD - USD/CHF - EUR/USD.
Trading the london/New York session and only having one trade open at a time, which I think is key since the pairs i trade are highly correlated.


Regards

Could be...

Took this GU trade and scaled out of it getting 37 pips at the best point.
Reason for trade: MA 35 + 50 touch, nice confluence from previous resistance + pivot + Round number + Fib level 61,8


Regards

i like that with "previous daily low".
and if you look at the daily open line, it also stopped there.

I trying to learn. Thanks u so much to help me. I've to learn more

Question 1: Are you sure you are posting in the right thread?
Question 2: If yes, are you sure you have the correct MAs and indicators to post in this thread?

Please remove and/or correct post....

Tradings is all about preparation to take advantage of the opportunities when they present. Opportunity is wasted if one is not prepared.

Hi guys I just wanted to share a nice trade i had today at GU that gave me +20 pips at 50% of the trade +12 at 25% of the trade and the rest went to BE.

Reason for trade (so much confluence): resistance right below MA 35 and MA 50 on M15 + MA 10 H1 touch + right below Fib 50 level + prev daily low + pivot S1 + Round number + pinbar M5 + 3x pinbars M1



Regards

AU +26 pips. M15 EMA10 1st 2-bar retrace. Good for 35 pips, trailing stopped.