CHOROS System

Good question!

Basicly No..
But price tends to test former highs and lows
A coupe hours ago this was a good target.

Hope it helped.
Guido

It's been quite quiet here for a while, so here is a trade that works quite often.
This is a clear bounce from M5 EMA50 that usually appears on strong M15 trends.
It usually crosses hard on the M15 EMA10 and appears that price is going down hard, but then it finds support right after and goes back into the trend.
The best entry is to wait for a bounce on M5 50 and ride it for 10-20 pips (in this case I got full 20 from this).
Now waiting for M15 35/50 if it happens today.

Here is a M15 EM10 bounce trade that is not really AAA (notice how the EMA 35/50 are NOT parallel and pointing down).
Eventually, it worked out. In these trades you need to observe and exit at the first sign of turning around.

This is a very nice and reliable Choros setup. Look at the manual for more details.
On my experience, the same setup works in M15, H1, H4 or D1.
This example from today, happend on the H1.
First, the price passes trough SMA 35 and EMA 50 (that are not parrallel but very separated) and closes below EMA 50.
Then, you wait for price to go back to EMA 10 and enter as close to the 10 EMA that your nerves allow.
In this case I entered when I thought price was reacting to the 10 EMA projection. As you can see I was a bit early. At that moment I thouhgt that I prefered that than missing the trade.

The target was just above RN 1.2350. When you look to the left, you can see that price shoot up from that level so that is a nice place to take profit.

I got +59 pips from this one.

Tooks the same mate!!! Using Price action and MAs as floating S/R levels is very reliable technique

Here is one that I am currently in and took it while I was driving . Confluence of M15 200 + RN + H1 35 + 2 pin bars in H1 + Daily 10!!! What else do you need to bet your house on this???

* Closed manually at +27pips!

And here is iero4 exiting the trade while driving.....

Thanx God I arrived at the office on time and had trailed my stop.