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CHOROS System

  • #15,601
  • Jul 7, 2020 5:52am Jul 7, 2020 5:52am
Taking a shot at a 35/50 bounce on the EU 4H. I like the general trend of dollar weakness over the last week, and though I'm in slightly late, I can simply reduce size a little and push my SL to 30 pips. Let me know your thoughts.
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  • #15,602
  • Jul 7, 2020 6:23am Jul 7, 2020 6:23am
Taking a shot is a sure way of loosing money. One needs to plan and execute a trade, otherwise it is gambling the same as throwing a coin in the air(50/50). In gambling the house always wins.
  • #15,603
  • Edited 7:23am Jul 7, 2020 6:31am | Edited 7:23am
Quoting Gragab
Taking a shot is a sure way of loosing money. One needs to plan and execute a trade, otherwise it is gambling the same as throwing a coin in the air(50/50). In gambling the house always wins.
I only say "taking a shot" because I normally only use the 1H TF, but I believe I found a solid opportunity using the 4H while still adhering to the rules of the system (2 bar retrace to the 35/50, in confluence with a RN). The TF is what is new to me personally, I've otherwise planned out my trade properly, and I've reduced my risk accordingly, so there is no gamble here.
  • #15,604
  • Jul 7, 2020 7:10am Jul 7, 2020 7:10am
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stop @ 1.1305
  • #15,605
  • Jul 7, 2020 8:22am Jul 7, 2020 8:22am
Quoting Hugo55
{image} stop @ 1.1305
Didn't work out, stop hit.
Daily trend was stronger, also bounce on the 4H
  • #15,606
  • Jul 7, 2020 8:46am Jul 7, 2020 8:46am
we have a very nice m15 10ema touch on GU. and had also nice m5 10touches...
trading is like dancing, don't think and just listen to the music!
  • #15,607
  • Jul 7, 2020 9:15am Jul 7, 2020 9:15am
Quoting birdland
we have a very nice m15 10ema touch on GU. and had also nice m5 10touches...
here the classic m15 10 touch, good for +15
Attached Image (click to enlarge)
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and here the m5 10 touch, good for +8. i do this from time to time IF there is a very strong trend.
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trading is like dancing, don't think and just listen to the music!
  • #15,608
  • Jul 8, 2020 6:33am Jul 8, 2020 6:33am
Took the double bottom in GBPUSD M15 for +30 pips...sorry not time to post charts
You are allowed to fall but you are imposed to get up!
  • #15,609
  • Jul 8, 2020 11:39am Jul 8, 2020 11:39am
EU EMA10 bounce trade, +19 pips.
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  • #15,610
  • Jul 9, 2020 1:05am Jul 9, 2020 1:05am
one of my earliest trades. just turned on the computer and i saw this 10ema pattern rejection one minute after FF open. normally not my time and i wait for london, but who cares for some quick pips;-)
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trading is like dancing, don't think and just listen to the music!
  • #15,611
  • Jul 9, 2020 1:53am Jul 9, 2020 1:53am
because it was a "two bar touch" with an even nicer rejection bar i did it a second time;-)
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trading is like dancing, don't think and just listen to the music!
  • #15,612
  • Jul 10, 2020 3:19am Jul 10, 2020 3:19am
I am currently in this EURCAD trade. Constrainment in H4 10 + H1 10 1st touch double bottom. I was late to enter so I used price action in M5 to catch the train.

We have strong resistance above so I use tight SL and wait for price to maybe explode. TP close to 1.5400...
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You are allowed to fall but you are imposed to get up!
  • #15,613
  • Jul 10, 2020 3:38am Jul 10, 2020 3:38am
Quoting iero4
I am currently in this EURCAD trade. Constrainment in H4 10 + H1 10 1st touch double bottom. I was late to enter so I used price action in M5 to catch the train. We have strong resistance above so I use tight SL and wait for price to maybe explode. TP close to 1.5400... {image}
Please share your 10 EMA indicator
  • #15,614
  • Jul 10, 2020 3:47am Jul 10, 2020 3:47am
Quoting atif58
{quote} Please share your 10 EMA indicator
Here you go...
Attached File(s)
File Type: mq4 MA_In_Color.mq4   4 KB | 338 downloads
You are allowed to fall but you are imposed to get up!
  • #15,615
  • Jul 10, 2020 3:53am Jul 10, 2020 3:53am
i am in this GU short trade 35/50 touch. will see how it works...
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trading is like dancing, don't think and just listen to the music!
  • #15,616
  • Jul 10, 2020 5:21am Jul 10, 2020 5:21am
Quoting birdland
i am in this GU short trade 35/50 touch. will see how it works... {image}
Oh no, you hit SL.
Nothing is impossible!
  • #15,617
  • Jul 10, 2020 9:59am Jul 10, 2020 9:59am
Quoting birdland
i am in this GU short trade 35/50 touch. will see how it works... {image}
this one did not work out (-6)
but the 10EMA touch trade was perfect, out at RN for +20:
Attached Image (click to enlarge)
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trading is like dancing, don't think and just listen to the music!
  • #15,618
  • Jul 10, 2020 1:40pm Jul 10, 2020 1:40pm
Trading is a journey of self discovery. The most important part is to find ones own system within a chosen system. There must be thousands of chosen systems. The ultimate outcome of a correct working system is profit.
  • #15,619
  • Jul 13, 2020 6:05am Jul 13, 2020 6:05am
What a great short confirmation was that double top in GU H1 confluenced with M15 and S/R level as well as daily R1!!! I was on the road and I don't like trading from the phone ...

I think the bears will continue for the most of the week (Check Weekly chart)...
You are allowed to fall but you are imposed to get up!
  • #15,620
  • Jul 14, 2020 3:16am Jul 14, 2020 3:16am
Hi, is this a valid entry?
i waited for a bar to close then I entered with 13 Pip SL
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