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5Min Intraday System

  • #1,081
  • May 3, 2007 9:11am May 3, 2007 9:11am
I didn't resist and took also this one

50 sma angle was not so steep, but the USD is strenghtening this afternoon so I was quite sure of the trade

10 pip profit
Attached Image
  • #1,082
  • May 3, 2007 11:07am May 3, 2007 11:07am
Hi K

I was looking at the same pair & set-up because of the smooth pullback - almost horizontal - resistance. My comments why it was a successful trade:

-Great first acsending triangle formed because of the first resistance (text 1) and the nice small candles. My 21MA was still outside war zone - no trade for me. The low of that candle then became by second point for small (black) trendline.

-I was looking for an entry around the second resistance area(text 2) (waiting for pullback into war zone). Unfortunately the pullback break out of/went through my trendline. That cancelled my trade.

-But look at how the previous resistance changeg into a nice support (text 3) - could have taken the trade with pullback (first blue candle back) into the war zone. However, very risky but there you have a 10pip profit from risky trade.
Attached Image (click to enlarge)
Click to Enlarge Name: $jpy 20070503 ascending triangles.jpg Size: 74 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,083
  • May 3, 2007 11:20am May 3, 2007 11:20am
I do like this set-up and I do see it more and more. It results in the smooth round pullback Phillip is always refering to. This one was a bit deep - the reason why I didn't take it. It usually gives a nice pullback to the 21MA and then moves back to the 10MA - just the time to enter on the 2 candle entry. This was an example where you would enter on the third candle.

If I am not mistaken from the Skype chat, Blanca's favourite entry method.
Attached Image (click to enlarge)
Click to Enlarge Name: $jpy 20070503 rounding.jpg Size: 71 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,084
  • May 3, 2007 12:32pm May 3, 2007 12:32pm
I did not trade it. Was at work. Nice movement for 1 min. The move was to quick for the 5min. Moved 60 pips before retrace. Then the pullback was too steep.
Attached Image (click to enlarge)
Click to Enlarge Name: 5Min Intraday.jpg Size: 38 KB
  • #1,085
  • May 3, 2007 12:59pm May 3, 2007 12:59pm
Hi all,
Wow, this is a great thread and a great crowd. I found both of Phillip Nel's threads by accident and am very happy about it. I'm new to forex factory, forex and trading platforms. I downloaded a MT4 demo last week and am trying to figure it all out but it is slow going. I did manage to set the 50, 21 & 10 MA'S on my charts and yesterday I made my first 5 pips on the EUR/USD: buy @ 1.3599, out @ 1.3604. I did it on paper because I still need to figure out how to enter/close orders, etc.

I would like to put the smangle indicator on my MT4 but am afraid to do this on my own since I don't know a great deal about computers. Are there any very specific step by step directions anywhere that I could use for this purpose? Any help in this matter would be appreciated.

Many thanks
Jbone
  • #1,086
  • Edited 2:06pm May 3, 2007 1:49pm | Edited 2:06pm
Quoting jbone
Hi all,
Wow, this is a great thread and a great crowd. I found both of Phillip Nel's threads by accident and am very happy about it. I'm new to forex factory, forex and trading platforms. I downloaded a MT4 demo last week and am trying to figure it all out but it is slow going. I did manage to set the 50, 21 & 10 MA'S on my charts and yesterday I made my first 5 pips on the EUR/USD: buy @ 1.3599, out @ 1.3604. I did it on paper because I still need to figure out how to enter/close orders, etc.

I would like to put the smangle indicator on my MT4 but am afraid to do this on my own since I don't know a great deal about computers. Are there any very specific step by step directions anywhere that I could use for this purpose? Any help in this matter would be appreciated.

Many thanks
Jbone

Pres F11 when motion starts to see full screen and F11 again when finish to return to original screen. Extract both files to the same place on your computor

Run the Htm file
Hope it works
Attached File(s)
File Type: zip 5 Min Setup.zip   923 KB | 1,624 downloads
  • #1,087
  • May 3, 2007 5:56pm May 3, 2007 5:56pm
Quoting Phillip Nel
Pres F11 when motion starts to see full screen and F11 again when finish to return to original screen. Extract both files to the same place on your computor

Run the Htm file
Hope it works
Phil,
Thanks very much. I appreciate it.
jbone
  • #1,088
  • May 4, 2007 2:28am May 4, 2007 2:28am
Hi Philip,
thanks very much for the great posts. I saw your nice trade posted yesterday 7:23...I am just wondering what indicators, settings you used. It seems to me that you applied the same as you wrote originally for your 5 min Intraday system in your first post in this thread: "50 Simple moving average with 20 Degree angle, retracement back into the zone of the 21 Exponential moving average and the 10 Exponential moving average."
Is that correct? If not, can you please share with us what system you used.
Thank you for your help in advance. And again thanks for the great thread!!!
All the best, xrbor.
  • #1,089
  • May 4, 2007 2:32am May 4, 2007 2:32am
Hi Willem

Here is another of nice pullback on the 21 EMA.
There are 4 candle finding support on it and after a strong move upward.
I took 17 pips on this trade.

Thanks againg for your analisis Willem, I think they are very useful for us.
Attached Image
  • #1,090
  • May 4, 2007 4:28am May 4, 2007 4:28am
Quoting kunz78
Hi Willem

Here is another of nice pullback on the 21 EMA.
There are 4 candle finding support on it and after a strong move upward.
I took 17 pips on this trade.

Thanks againg for your analisis Willem, I think they are very useful for us.
Hi K78

Pleasure is all mine - only if it is helpful (that is how I am learning to identify the setups - looking at example after example).

I saw that set-up an hour or 2 later because I was busy with my full time job. Yes, once again, the same set-up as yesterday - acsending triangle with a nice round top and the 21ma has already crossed!!!!! I just had a 4h trendline (possible resistance) above - I'll post it later today
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,091
  • May 4, 2007 7:57am May 4, 2007 7:57am
Used 1 min pullback for nfp news this morning. +11 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 05-04-07-gbp-nfp.jpg Size: 72 KB
  • #1,092
  • May 4, 2007 8:01am May 4, 2007 8:01am
Hi guys,

today in london did not see any trade, very flat, congratulations to the one who took the euro long, excellent observation very, very good, right now as we all did waited for the news, then went to the 1min chart and the set up appeared, a long trade from 1.9888 good for +15 pips, at least they`re some pips today, very flat day considering big news expected.
  • #1,093
  • May 4, 2007 8:45am May 4, 2007 8:45am
I am really new to this system. And I really find this intresting. The best part would be if the autotrading aspect of this system is perfected and I really appreciate the works of phil and others who have devoted their time to make it easy for newbies like us.
Nevertheless a setup is likely to form i suppose on the 5 min GBP/USD chart.
also a bit away from the 10 EMA on EUR/USD.
As part of my contribution I would try to summarise the details in this whole thread in a single place so that anyone new to this may not have to read thru the whole thread which is now 73 pages of all intresting facts.
  • #1,094
  • May 4, 2007 10:42am May 4, 2007 10:42am
My trade (a bit late for a 1 min news trade but....) on the EURU$ this morning (afternoon). First chart is my trade en second one is the possible formation of the 3 little sisters - the reason for my early exit.

Too bad I've missed out on 10pips - not bothering me because for a while I was worried about the trade and I almost closed for a 4pip loss.

I was watching the charts after NFP release but I wasn't comfortable with the initial set-ups - the reason for the late trade.

Phillip - your comments on the 3 little sisters?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euru$ 20070504 news trade 1.jpg Size: 71 KB
Click to Enlarge Name: euru$ 20070504 news 1min 3 little sisters.jpg Size: 65 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,095
  • May 4, 2007 11:32am May 4, 2007 11:32am
Quoting xrbor
Hi Philip,
thanks very much for the great posts. I saw your nice trade posted yesterday 7:23...I am just wondering what indicators, settings you used. It seems to me that you applied the same as you wrote originally for your 5 min Intraday system in your first post in this thread: "50 Simple moving average with 20 Degree angle, retracement back into the zone of the 21 Exponential moving average and the 10 Exponential moving average."
Is that correct? If not, can you please share with us what system you used.
Thank you for your help in advance. And again thanks for the great thread!!!
All the best, xrbor.

I dont use the angle window for 1 min. I enter on the looks of the setup. Moving Averages and principal the same as for 5 min. Just have to make sure that news will take the price in that direction.
  • #1,096
  • May 4, 2007 12:11pm May 4, 2007 12:11pm
Quoting Ishak
Used 1 min pullback for nfp news this morning. +11 pips.
Hi Ishak

Yes, I was also following the chart after the NFP. I was worried about the cross of the 21MA initially. But after that at 12H49 &12H53GMT the pair showed two other set-ups within the war zone. I would have taken the 12H53 (however not a deep pullback into war zone - difficult) set-up after the 12H49 showed me some support within the war zone (medium speed). 16 pips move up.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,097
  • May 4, 2007 12:30pm May 4, 2007 12:30pm
Quoting kunz78
Hi Willem

Here is another of nice pullback on the 21 EMA.
There are 4 candle finding support on it and after a strong move upward.
I took 17 pips on this trade.

Thanks againg for your analisis Willem, I think they are very useful for us.
Hi K78

Attached my chart for your trade. The TL 4h is a trend line drawn on the 4h chart and the other two lines are my daily pivot and daily first resistance line (I do use a calculator form Mark Mcrae based on the daily High, Low and Close prices on InterbankFX platform.

I do have about 4-6 trendlines on my charts drawn from 5min, 4h, daily and weekly charts. I've learned that from Phillip's 4h MACD system - very helpful with entry of trade and profit taking.

I saw the price break through the 4h TL - I thought is was below it. Just look at the beauty of your trade - TP near pivot line was the option and you took it. Just look at the small area of resistance found just below the 4h TL with pressure from below - acsending triangle principles. Then the pullback into the zone - ready to pull the trigger.

Just look at the price actions around the pivot and 1st resistance areas - very interesting
Attached Image (click to enlarge)
Click to Enlarge Name: euru$ 20070504 trend line trade.jpg Size: 78 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,098
  • May 4, 2007 2:02pm May 4, 2007 2:02pm
Hi,
Is the correct "smangle indicator" (for download) the one found on page 11, post 159 called the "PhilNelSignal"?
Thanks
jbone
  • #1,099
  • Edited 2:41pm May 4, 2007 2:31pm | Edited 2:41pm
Quoting jbone
Hi,
Is the correct "smangle indicator" (for download) the one found on page 11, post 159 called the "PhilNelSignal"?
Thanks
jbone
Hi J

I do use the indicators on post #574 on page 39. SMAangle is the bar indicator (called SMAAngle.ex4) and the PhilNelSignal is the indicator showing the dots. I don't use it anymore - only to all me to the PC, telling me there is something going on. After that I do take my own decisions/trades. You need to drag the 21EMA onto the SMAangle indicator window.

Attached is copy of my rules explaining the creation of the charts as I use it.
Attached File(s)
File Type: zip 5 min intraday trading system THE RULES 20070504 no extra examples.zip   430 KB | 1,635 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,100
  • May 5, 2007 10:02am May 5, 2007 10:02am
Quoting Golfer
Hi J

I do use the indicators on post #574 on page 39. SMAangle is the bar indicator (called SMAAngle.ex4) and the PhilNelSignal is the indicator showing the dots. I don't use it anymore - only to all me to the PC, telling me there is something going on. After that I do take my own decisions/trades. You need to drag the 21EMA onto the SMAangle indicator window.

Attached is copy of my rules explaining the creation of the charts as I use it.
Golfer,
Thank you very much. Very nice pdf. Since I don't know much about computers I think I should keep things simple and will only try to put the SMAAngle.ex4 on my MT4. Is this ok, or must I first put the "5 min intraday system.tpl" on first?
Thanks
jbone
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