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CHOROS System

Selling GBPUSD, H1 35/50 touch, DP and H4 10EMA confluence
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Quoting NameIsMethos
Anybody Looking to go short on GBPUSD on H1 Higher MA Touch in Confluence with Daily Pivot? I want to but I'M hesitating, due to a strong trend on M5 and also a beginning uptrend on M15 {image}
looks good
It's never too late to make a bad trade!
Quoting atif58
Selling GBPUSD, H1 35/50 touch, DP and H4 10EMA confluence {image}
great! i took the same for +10
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I know that you and I know nothing.
Quoting birdland
{quote} great! i took the same for +10 {image}
great! I am still in the trade couldn't close due to 3 pips spread
Quoting NameIsMethos
Anybody Looking to go short on GBPUSD on H1 Higher MA Touch in Confluence with Daily Pivot? I want to but I'M hesitating, due to a strong trend on M5 and also a beginning uptrend on M15 {image}
hopefully you didnt hesitate. take it for +10-15 pips. SL 20-30 pips and walk away if you are frightened.

if u are experienced, you can load a second position if its overshooting 10-15 pips. it has the advantage that you get a better entryprice and a higher profit.

but really be careful because these touch trades can overshoot more and then you are -50 or more;-)
I know that you and I know nothing.
Quoting atif58
{quote} great! I am still in the trade couldn't close due to 3 pips spread
3 pips spread!! change the broker !!! dont accept more than 0.8-1.2 pips spread without commission. and 0-0.5 spread with commission.
I know that you and I know nothing.
Quoting birdland
{quote} hopefully you didnt hesitate. take it for +10-15 pips. SL 20-30 pips and walk away if you are frightened. if u are experienced, you can load a second position if its overshooting 10-15 pips. it has the advantage that you get a better entryprice and a higher profit. but really be careful because these touch trades can overshoot more and then you are -50 or more;-)
Hi Birdland,

I did hesitate however as you said when frightend better walk away. I entered a little later though when I felt it was a good idea and was up 11 pips. However I expected price to retest the H1 EMA10 from the top. It didn't so I got out with +5 pips. Deciding when taking profits is still something I'm trying to figure out.

It now seems that price can't decide which way to go, so it's sidelines again. Since it's Friday probably done trading for today as I personally don't expect much more volatility on GU today.
oh I was very wrong. I just took another trade with +17 pips. This one surely isn't an AAA trade. But can you guys tell me if it's something you would have done as well and if it was a Dance trade? It doesn't seem as "clear cut" but it just screamed at me to sell.

Reason for Entry:
Was at lunch and when I came back I saw price retesting and rejecting a previous H1 S/R. When price came back, there was a double top on M15. The second candle of this double top also dead ended into M15 SMA35 which was my trigger to enter short (double top + coudn't break SMA35). I exited manually when price was hesitating around the 1.28900
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Quoting birdland
{quote} 3 pips spread!! change the broker !!! dont accept more than 0.8-1.2 pips spread without commission. and 0-0.5 spread with commission.
Thanks for the advice. I have been thinking to change my broker. I have looking for FXTM, they claim to be lowest spreads but I noticed their spreads are variable and most of the time it is 3 pips Please suggest if you have someone better?
Quoting NameIsMethos
oh I was very wrong. I just took another trade with +17 pips. This one surely isn't an AAA trade. But can you guys tell me if it's something you would have done as well and if it was a Dance trade? It doesn't seem as "clear cut" but it just screamed at me to sell. Reason for Entry: Was at lunch and when I came back I saw price retesting and rejecting a previous H1 S/R. When price came back, there was a double top on M15. The second candle of this double top also dead ended into M15 SMA35 which was my trigger to enter short (double top + coudn't...
i would not take this trade because it looked "whipsaw-like", but thats me. i trade not only choros style, so i can really take only the AAA trades.
I know that you and I know nothing.
Quoting atif58
{quote} Thanks for the advice. I have been thinking to change my broker. I have looking for FXTM, they claim to be lowest spreads but I noticed their spreads are variable and most of the time it is 3 pips Please suggest if you have someone better?
i dont want to say "this or that" broker, because there are many other things like security, regulation, insurance and which country u come from. but have a look here: https://55brokers.com/ecn-forex-brokers/

definitely take a true ECN broker and not a broker dealer.
I know that you and I know nothing.
Hi everyone,

did anyone else have this big spike on M1 GU? I was up +12 pips and SL=BE but within seconds price spiked and took me out -7 pips due to lack of liquitidy. I know this happens and I don't really have a reason to doubt my broker, since it's an ECN broker. But since most of us are trading GU it's a perfect and simple possibility to check with you guys :-) I would be glad if some of you could check / post the M1 GU just to verify.

Cheers,
Methos
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Quoting NameIsMethos
Hi everyone, did anyone else have this big spike on M1 GU? I was up +12 pips and SL=BE but within seconds price spiked and took me out -7 pips due to lack of liquitidy. I know this happens and I don't really have a reason to doubt my broker, since it's an ECN broker. But since most of us are trading GU it's a perfect and simple possibility to check with you guys :-) I would be glad if some of you could check / post the M1 GU just to verify. Cheers, Methos {image}
yes, that spike was real. another reason why i avoid BE stops and welcome to the trading world. the trend was strong bullish, we have brexit negotiantions and that caused this spike. we have these spikes now every day when you look at the m1 back.

i had a long order for a 35/50 touch trade and made +17 within 20 seconds.
m15:
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m1:
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I know that you and I know nothing.
Quoting birdland
{quote} yes, that spike was real. another reason why i avoid BE stops and welcome to the trading world. the trend was strong bullish, we have brexit negotiantions and that caused this spike. we have these spikes now every day when you look at the m1 back. i had a long order for a 35/50 touch trade and made +17 within 20 seconds. m15:{image}m1: {image}
I see you trade GBPUSD a lot and said it's your favorite pair for Choros. Would you suggest trading GU solo if learning Choros? Even with the spikes these days?

Cheers!
Quoting jergijselaar
{quote} I see you trade GBPUSD a lot and said it's your favorite pair for Choros. Would you suggest trading GU solo if learning Choros? Even with the spikes these days? Cheers!
yes, because its working best with GU. in recent times i tend to trade GU only, also with other strategies, because it moves like an animal
I know that you and I know nothing.
Quoting birdland
{quote} yes, because its working best with GU. in recent times i tend to trade GU only, also with other strategies, because it moves like an animal
Thanks! Any timeframe(s) you would suggest a Choros beginner? Just start with the 15 min as per guide or?
Quoting jergijselaar
{quote} Thanks! Any timeframe(s) you would suggest a Choros beginner? Just start with the 15 min as per guide or?
m15 and H1
I know that you and I know nothing.
I have decided to trade again after USA elections. Till then market will play with us and our accounts so be carefull guys...
You are allowed to fall but you are imposed to get up!
Hi everyone,

just FYI and interested in your thoughts. I'm currently waiting on GBPUSD H1 to retrace to EMA10. if it happens in the next 2 hours, there may be confluence with monthly pivot, which could form a strong signal. Currently it seems that price is struggling to stay above 1.306 which make a retrace more likely in my opinion. Let's wait and see.
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Nice 15 min first touch of 35/50. Shorted for +22. Any feedback is welcome.
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