5Min Intraday System

Hi I

Great trade - just look at the set-up. Exactly what Phillip was trying to explain:

1. Slow pullback - little bit of resistance found initially
2. 5 candles testing the 21MA forming a nice RB (support found on the 21MA)

A nice set-up to put a trade in on the pull-back from the 21MA

Well done

today only one trade short cable at 1.9804 right now i am trying to get +12, or at least +10

Good trade, I was a little late for that one. Hopefully you took your +10 pips before the turnaround.

Today's Ny Session opportunity

After it found resistance against 10EMA like that for a couple of bars it could only go short. Well done

Philip,
Can't thank you enough for starting this thread and posting some very useful info.

Pair: Eur/Jpy
Time: 7:57 EST
Pip: +13

As Philip wrote, 1 min Chart for the news, works beautifully.

Nice trade

good morning,

today only one trade so far cable short 1.9759 for +10 hope during news we can get something.

short eurjpy 163.30 loss of -12

I did follow some of the actions of the cable during the Uk session but once again, my small supp & resis line kept me out of trouble.

I do take #1 as my first pullbacks and use it as my second point for my supp & resist line. If you've taken the first #1 as a trade - BE would have been the result.

Look at the #2s - Both look like a pullback within the zone ready to pull the trigger but............ Supp & resist lines were broken. Second #2 - -0.4 line is broken as well.

Just an example.

The same with the EURJPY:

1. Candle #1 is my first pull-back candle giving me a second point for resist line.

2. Candle #2 - possible trade set-up but 21MA is still in no-trade zone. High risk trade and not according to rules but a profit. Just to show you but don't get upset, that happens all the time. Wait for high probability set-up.

3. Candle #3 - looks like a start of the pull-back from the 21MA but small resist line was broken & 21MA still in no-trade zone - no trade

Then the next two set-ups (unfortunately I've missed the second one by a few minutes):

Support line A was broken very early ruling out any possible trades.

Then came support line B:

You could have taken candle #2 but it was not according to the rules.

Candle #3 was a beauty with the smooth RB. My first daily pivot (resist 163.36) line was a bit of a worry but there was enough room for profit taking.

Very interesting day with some difficult set-ups. Today was a day for discipline and patience.

This market is really driving me crazy...
It looks very nervous and choppy.

However I managed to take 20 pips on this round pullback on the cable this morning. It was a risky trade because of the news and i was lucky.

I'm curious to know if anyone has taken any trade today

Being the classic pair to difficult to trade in these last days,
I switched to this pair aud usd.

I took 10 pip profit with it

i took two long usdjpy 120.46 and 120.60 both +12
and three long eurjpy 163.55, 163.68 163.79 +12,+12,-12,

right now i am in 1min charts to see if the news let us take some.

short cable 1min chart 1.9798 for +10

Hi K

No, not a trade made today. Was too busy. Just to mention the fact that I do like your entries. Text book stuff. Keep it up and keep it within your rules.

Thanks Willem,

I'm finding these days really hard to trade. There are a lot of big moves but I'm not able to enter in the trades.
I think that sometimes could be useful to swith to the one minute chart to find a good entry.
Look to the chart for an example of today

Just trying to tweek and fine tune the setup entries and exits but yet keep it simple...appreciate any thoughts ideas...

http://www.forexfactory.com/showthread.php?t=12057