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CHOROS System

  • #15,561
  • Jun 29, 2020 6:45am Jun 29, 2020 6:45am
Quoting Hugo55
{image}
stopped, would be better to wait and see what happens at the 35/50
  • #15,562
  • Jun 29, 2020 6:47am Jun 29, 2020 6:47am
Quoting iero4
Nice trading Hugo! I took the H1 35/50 touch in cable
Well done you
  • #15,563
  • Jun 29, 2020 6:50am Jun 29, 2020 6:50am
Quoting iero4
{quote} Wait for confirmation from H1...draw a trendline from lows in H4 to see what happens
You are right, I missed that. I should stick to my 35/50 trades. Thanks
  • #15,564
  • Jun 29, 2020 8:23am Jun 29, 2020 8:23am
Quoting iero4
Nice trading Hugo! I took the H1 35/50 touch in cable
me too, that was a nice short with lots of rejection bars.
trading is like dancing, don't think and just listen to the music!
  • #15,565
  • Jun 30, 2020 5:24am Jun 30, 2020 5:24am
Just a question to help those that still struggling to understand this strategy.

Look at the Cable M15 almost touch of the 35/50...you wait for the price to actually touch the MAs but this never happened...(Normaly I would expect the price to touch the RN above as well) what would you do? Would you take that trade or would you leave it and wait for a better signal?
Attached Image
You are allowed to fall but you are imposed to get up!
  • #15,566
  • Jun 30, 2020 6:46am Jun 30, 2020 6:46am
Quoting iero4
Just a question to help those that still struggling to understand this strategy. Look at the Cable M15 almost touch of the 35/50...you wait for the price to actually touch the MAs but this never happened...(Normaly I would expect the price to touch the RN above as well) what would you do? Would you take that trade or would you leave it and wait for a better signal? {image}
Since the price crossed the EMA10 upwards without hesitation, this would make me worried about shorting with a 35/50 trade. Usually, this goes to make a double bottom and switch directions.
In this case the 35/50 worked but still not good for my taste...
  • #15,567
  • Jun 30, 2020 7:52am Jun 30, 2020 7:52am
Quoting kostas1
{quote} Since the price crossed the EMA10 upwards without hesitation, this would make me worried about shorting with a 35/50 trade. Usually, this goes to make a double bottom and switch directions. In this case the 35/50 worked but still not good for my taste...
Let me tell you my thoughts and I will appreciate your answer here...the 2 last green candles that tried to touch the 50 are almost double tops and for sure the second is an inside bar. If you switch to M5 you will see 2 consecutive inside bars rejecting that level. This, according to the manual is a very strong signal and the market is showing its hand...Clay used to say "Always look for price action" or something like that...

What do you think Kostas?
You are allowed to fall but you are imposed to get up!
  • #15,568
  • Jun 30, 2020 8:10am Jun 30, 2020 8:10am
Quoting iero4
Just a question to help those that still struggling to understand this strategy. Look at the Cable M15 almost touch of the 35/50...you wait for the price to actually touch the MAs but this never happened...(Normaly I would expect the price to touch the RN above as well) what would you do? Would you take that trade or would you leave it and wait for a better signal? {image}
For the price did not respond EMA10 even once, to me it is a slow trend or side way market, it will reverse at some point, you can enter with PA but not a dance setup.
  • #15,569
  • Jun 30, 2020 8:51am Jun 30, 2020 8:51am
Quoting larryw
{quote} not a dance setup.
You are allowed to fall but you are imposed to get up!
  • #15,570
  • Jun 30, 2020 9:55am Jun 30, 2020 9:55am
Quoting larryw
{quote} For the price did not respond EMA10 even once, to me it is a slow trend or side way market, it will reverse at some point, you can enter with PA but not a dance setup.
It is a Choros setup, just not AAA grade. You can grab 10 to 20 pips and close. As I expected it made a double bottom and exploded upwards....
  • #15,571
  • Jun 30, 2020 9:59am Jun 30, 2020 9:59am
Quoting kostas1
{quote} It is a Choros setup, just not AAA grade. You can grab 10 to 20 pips and close. As I expected it made a double bottom and exploded upwards....
Well spotted Kostas!
  • #15,572
  • Jun 30, 2020 10:06am Jun 30, 2020 10:06am
Quoting kostas1
{quote} It is a Choros setup, just not AAA grade. You can grab 10 to 20 pips and close. As I expected it made a double bottom and exploded upwards....
Indeed...it formed higher lows and then double bottom so 100 points to the master
You are allowed to fall but you are imposed to get up!
  • #15,573
  • Jun 30, 2020 8:17pm Jun 30, 2020 8:17pm
Quoting iero4
Just a question to help those that still struggling to understand this strategy. Look at the Cable M15 almost touch of the 35/50...you wait for the price to actually touch the MAs but this never happened...(Normaly I would expect the price to touch the RN above as well) what would you do? Would you take that trade or would you leave it and wait for a better signal? {image}
iero4, I 'll wait for the price to actually touch the MAs.
Nothing is impossible!
  • #15,574
  • Jun 30, 2020 9:33pm Jun 30, 2020 9:33pm
Quoting iero4
{quote} Let me tell you my thoughts and I will appreciate your answer here...the 2 last green candles that tried to touch the 50 are almost double tops and for sure the second is an inside bar. If you switch to M5 you will see 2 consecutive inside bars rejecting that level. This, according to the manual is a very strong signal and the market is showing its hand...Clay used to say "Always look for price action" or something like that... What do you think Kostas?
iero4, Thanks for your explain.
Nothing is impossible!
  • #15,575
  • Edited 2:00pm Jul 1, 2020 1:44pm | Edited 2:00pm
Hello guys, how is this strategy after 10 years?
For me, it looks quite good on most of the time frames, but I prefer M1 and going to start a simulator tomorrow for tests.

It looks like, it's still worth after 10 years for me .. What is your opinion?
  • #15,576
  • Jul 2, 2020 1:52am Jul 2, 2020 1:52am
Quoting iero4
Just a question to help those that still struggling to understand this strategy. Look at the Cable M15 almost touch of the 35/50...you wait for the price to actually touch the MAs but this never happened...(Normaly I would expect the price to touch the RN above as well) what would you do? Would you take that trade or would you leave it and wait for a better signal? {image}

my 2 cents in response... I took the sell at the close of the 2nd candle you have pointed out. The reason i took it on the close - it was close enough without touching. The candles were getting shorter and the wicks at the top end were long enough to suggest bearish move. the receeding wick caused the RSI 14 to close below the 50 line further suggesting weakness. it was a 30 point move down..

if you look at the RSI at the bottom of the image, this shows some divergence between the price and the RSI on the 2nd up move i wouldnt have taken the 2nd touch - instead favouring a long trade up. Divergence is also a great way to exit a trade
Attached Image
  • #15,577
  • Jul 2, 2020 2:02am Jul 2, 2020 2:02am
Quoting MaxiPip
{quote} my 2 cents in response... I took the sell at the close of the 2nd candle you have pointed out. The reason i took it on the close - it was close enough without touching. The candles were getting shorter and the wicks at the top end were long enough to suggest bearish move. the receeding wick caused the RSI 14 to close below the 50 line further suggesting weakness. it was a 30 point move down.. if you look at the RSI at the bottom of the image, this shows some divergence between the price and the RSI on the 2nd up move i wouldnt have taken...
Years ago I also used to have RSI in H4 charts to spot divergences but it was more confusing than helpful.
I found that the quote "the markets can remain irrational longer than you can remain solvent" by Keynes is probably true so I dropped the RSI....
  • #15,578
  • Jul 2, 2020 3:56am Jul 2, 2020 3:56am
Simplicity is everything and price is the leader.
  • #15,579
  • Jul 2, 2020 6:01am Jul 2, 2020 6:01am
Hello kostas and everyone, would you consider buying this ?
Attached Image (click to enlarge)
Click to Enlarge Name: Choros1.png Size: 44 KB
  • #15,580
  • Jul 2, 2020 6:13am Jul 2, 2020 6:13am
Quoting Rebyt
Hello kostas and everyone, would you consider buying this ? {image}
I would for a scalp but NOT today !!!!
My experience during NFP is that the higher TFs react best but I usually do NOT trade during such events.
If you are brave enough check the confluence of H4 200, H4 10, H1 35/50, RN 1.2450, DP.
It could bounce there for a nice upwards move.
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