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CHOROS System

  • #15,381
  • May 26, 2020 10:28am May 26, 2020 10:28am
Quoting NameIsMethos
{quote} Hi Birdland, thanks for your examples. I followed it up and it still worked out today, because most forex pairs are trending pretty good. However I understand your point, more often than not entering late will result in a loosing trade because it's not a first or 2nd touch. What I find hard is to differentiate when price is at the beginning of a move and I should take the EMA10 and when it's just a false breakout and will reverse. Is the Cross of the EMA10 and SMA35 / EMA50 a necessity for you before entering a EMA10 trade? I think I didn't...
well yes, i like the crossing before i enter 10ema or 35/50 touch trades. this is only true when i take touch trades for quick scalpes.
it pretty should look line the GC example or i will do nothing.
trading is like dancing, don't think and just listen to the music!
  • #15,382
  • May 26, 2020 11:39am May 26, 2020 11:39am
In that kind of setup the first touch will appear pretty soon at the beginning of the trend, right? How do you identify if the trend will continue? I attached a random example of a similar situation. The EMA10 crossed the higher MA's and displays a trend with an EMA10 Touch. However SMA35 and EMA50 are still almost flat, giving no indication if price continuous.
Attached Image (click to enlarge)
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  • #15,383
  • May 26, 2020 12:34pm May 26, 2020 12:34pm
Quoting NameIsMethos
In that kind of setup the first touch will appear pretty soon at the beginning of the trend, right? How do you identify if the trend will continue? I attached a random example of a similar situation. The EMA10 crossed the higher MA's and displays a trend with an EMA10 Touch. However SMA35 and EMA50 are still almost flat, giving no indication if price continuous. {image}
At which touch are you refering to? There are many in the attached foto. If you want my poor advice, always check what happened before at that same level and ALWAYS try to interprite what higher TFs tell you.
You are allowed to fall but you are imposed to get up!
  • #15,384
  • May 26, 2020 1:40pm May 26, 2020 1:40pm
There’s no better feeling than seeing blue on the screen. NameIsMethos eventually all your questions will be answered with practice.
  • #15,385
  • May 26, 2020 9:29pm May 26, 2020 9:29pm
Waiting to BUY EURUSD: H4 10 EMA in confluence with H1 35/50, Daily Pivot and 1.0950 RN.
Attached Image (click to enlarge)
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  • #15,386
  • May 26, 2020 10:24pm May 26, 2020 10:24pm
Quoting Haydel
Waiting to BUY EURUSD: H4 10 EMA in confluence with H1 35/50, Daily Pivot and 1.0950 RN. {image}
The BUY limit was trigered.

Watching the trade in the M15 Chart I can see a possible M15 10EMA trade to SELL (Light Blue Box), but usually H4 10EMA wins in front of an M15 10EMA so I'm leaving the BUY trade open.

I also adjusted the TP level to a more reasonable place based on all the bounces at that level.
Attached Image (click to enlarge)
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  • #15,387
  • May 26, 2020 10:30pm May 26, 2020 10:30pm
Quoting Haydel
{quote} The BUY limit was trigered. Watching the trade in the M15 Chart I can see a possible M15 10EMA trade to SELL (Light Blue Box), but usually H4 10EMA wins in front of an M15 10EMA so I'm leaving the BUY trade open. I also adjusted the TP level to a more reasonable place based on all the bounces at that level. {image}
I know is too soon to move to BE but that is what I just did and I'm going to sleep. Asia Market is just to slow for me.
We'll see.
Have a good night everyone.
  • #15,388
  • May 27, 2020 8:29am May 27, 2020 8:29am
WTI confluence of H1 50/10 + M15 10 and 35/50 (OVERLAPED) + Doji bar + Round Number.......Actually this was a hell of a confluence

My TP was at the Round Number but I took my profit earlier as I had already achieved my daily target from the morning GBP/USD move
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 165 KB
Click to Enlarge Name: 2.jpg Size: 135 KB
You are allowed to fall but you are imposed to get up!
  • #15,389
  • May 27, 2020 12:00pm May 27, 2020 12:00pm
Quoting iero4
WTI confluence of H1 50/10 + M15 10 and 35/50 (OVERLAPED) + Doji bar + Round Number.......Actually this was a hell of a confluence My TP was at the Round Number but I took my profit earlier as I had already achieved my daily target from the morning GBP/USD move {image} {image}
Why did you not take long some 10 candles before your entry? Too flat or any other reason?
  • #15,390
  • May 27, 2020 1:24pm May 27, 2020 1:24pm
Quoting tonny47
{quote} Why did you not take long some 10 candles before your entry? Too flat or any other reason?
10 candles before it was still night in Greece and I was sleeping

Moreover, I only trade WTI during New York session
You are allowed to fall but you are imposed to get up!
  • #15,391
  • May 27, 2020 2:33pm May 27, 2020 2:33pm
Quoting iero4
{quote} 10 candles before it was still night in Greece and I was sleeping Moreover, I only trade WTI during New York session
I see. I am struggling to avoid trades as I mentioned. Would you have taken the trade if it was during New York session?
  • #15,392
  • May 28, 2020 8:33am May 28, 2020 8:33am
This is what I'm lookint at righ now. Redy to BUY EURUSD.
That would be a M15 10EMA setup.
It is in confluence with M5 12/23.
We'll see.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 59 KB
  • #15,393
  • May 28, 2020 8:55am May 28, 2020 8:55am
Quoting tonny47
{quote} Would you have taken the trade if it was during New York session?
If I had confirmation from lower and higher TFs I would probably take it but as I saw the slope is not so good so I would think twice....
You are allowed to fall but you are imposed to get up!
  • #15,394
  • May 28, 2020 9:00am May 28, 2020 9:00am
Guys,
I like to contribute to this thread and I hope I help with my posts. Unfortunately I will be traveling and working a lot the next 20 days so I won't be able to trade and post every day .

Trade safely and see you soon

Iero
You are allowed to fall but you are imposed to get up!
  • #15,395
  • Edited 10:11am May 28, 2020 9:13am | Edited 10:11am
Quoting iero4
Guys, I like to contribute to this thread and I hope I help with my posts. Unfortunately I will be traveling and working a lot the next 20 days so I won't be able to trade and post every day . Trade safely and see you soon Iero
Have a safe trip iero4.
  • #15,396
  • Edited 9:47am May 28, 2020 9:19am | Edited 9:47am
Was able to go LONG with two similar trades on GBPUSD.
First target hit +12p
Moved the second trade to BE+1
Going after the second target.
Attached Image (click to enlarge)
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  • #15,397
  • May 28, 2020 9:22am May 28, 2020 9:22am
Quoting iero4
Unfortunately I will be traveling and working a lot the next 20 days so I won't be able to trade and post every day . Iero
"Traveling and working" fake news from iero.
He is probably the guy in the picture below.....

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  • #15,398
  • May 28, 2020 9:35am May 28, 2020 9:35am
Quoting Haydel
This is what I'm lookint at righ now. Redy to BUY EURUSD. That would be a M15 10EMA setup. It is in confluence with M5 12/23. We'll see. {image}
REALLY!!!

Buy limit was set at 1.10300, price went to 1.10301 !!! The order didn't get triggered by 0.1 pips!!!

The target would have been hit in less than 15 minutes.

I'm cancelling that order, wouldn't be safe now, the train has left.

Well, that happens.
Attached Image (click to enlarge)
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  • #15,399
  • Edited 10:13am May 28, 2020 10:01am | Edited 10:13am
Quoting Haydel
Was able to go LONG with two similar trades on GBPUSD. First target hit +12p Moved the second trade to BE+1 Going after the second target. {image}
Second target hit por +40pips
Both trades total: +52pips
Attached Image (click to enlarge)
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  • #15,400
  • May 28, 2020 11:45am May 28, 2020 11:45am
Quoting Haydel
{quote} Second target hit por +40pips Both trades total: +52pips {image}
funny, had similar trades today AND the EU trade i also didnt get for 0.3 pips or so;-)) :
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPJPYM15.png Size: 67 KB
trading is like dancing, don't think and just listen to the music!
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