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5Min Intraday System

  • #1,301
  • Jun 1, 2007 4:52am Jun 1, 2007 4:52am
Quoting petrol
No more resistance = no more trades

My problem above still remains: what about this moment GBP-USD? 21EMA and 10EMA are very close, 50 has the right angle but there is a stong resistance at "00".

Best choice: stay out of it?
Yes, great choice! Don't get upset when you see the market are now/afterwards running in your favour.

Just remember there will be many more opportunites along the line. Don't take every possible set-up. You'll be burned and your profit factor will decreased dramatically.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,302
  • Jun 1, 2007 5:21am Jun 1, 2007 5:21am
Quoting hegan
Hello all,

This morning I am watching 3 pairs of currencies: EUR/USD, GBP/USD and USD/CHF. USD/CHF is most primising.

Hegan
Hi H

Very interesting choice - any reasons why?

At any given time with the 5min system, I only study 4 pairs EURU$, Cable, U$JPY and EURJPY. I am trying to get use to their price movements and characteristics to identify high probability trade set-ups.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,303
  • Jun 1, 2007 5:31am Jun 1, 2007 5:31am
Hi Golfer,

I started to watch those 3 because at that specific moment in the morning all three had promising setup for this 5min system. Unfortunately, things changed and only USD/CHF still has good angle (more then 20) and I am just waiting for pullback into the zone.
  • #1,304
  • Jun 1, 2007 5:35am Jun 1, 2007 5:35am
Quoting hegan
Hi Golfer,

I started to watch those 3 because at that specific moment in the morning all free had promising setup for this 5min system. Unfortunately, things changed and only USD/CHF still has good angle (more then 20) and I am just waiting for pullback into the zone.
Right - good luck. I don't follow the Swissy on the 5min, only on the 4h system.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,305
  • Jun 1, 2007 5:46am Jun 1, 2007 5:46am
Well, I watch USD/CHF particulary because it looks like this pair has some kind of corelation with EUR/USD. When EUR/USD is bullish USD/CHF is bearish and vice versa. So if EUR/USD go up, I expect that within few moments USD/CHF will go down.
  • #1,306
  • Jun 1, 2007 6:27am Jun 1, 2007 6:27am
Hi Golfer! Ii the beginning of the 4H MACD thread Phillip mentioned he tested the system only on cable and eur/usd. You mentioned you follow usd/chf as well. Is it tested on it or any other pairs, please?
  • #1,307
  • Jun 1, 2007 7:36am Jun 1, 2007 7:36am
My trade today - I just liked the set-up with nice small flat candles. It broke my resistance line as I was entering. Move SL to BE after 6 pips and it only moved 9 pips. Should have taken profit because it is a quite day before NFP.
Attached Image (click to enlarge)
Click to Enlarge Name: euru$ 200700601 trade 1.jpg Size: 75 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,308
  • Edited 1:29pm Jun 1, 2007 7:41am | Edited 1:29pm
Quoting Balkan
Hi Golfer! Ii the beginning of the 4H MACD thread Phillip mentioned he tested the system only on cable and eur/usd. You mentioned you follow usd/chf as well. Is it tested on it or any other pairs, please?
Hi B

No, I don't follow the Swissy with the 5 min system. Only with the 4h MACD system. The EURJPY pair is not tested but I've looked at this pair since March 2007 and I like what I see - just my personal opinion. Sometimes I'll look at the U$JPY and I'll try a trade.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,309
  • Edited 6:30pm Jun 1, 2007 2:36pm | Edited 6:30pm
Quoting Golfer
Hi Al

Drawing of small resistance/support lines:

Post #1181 page 79.
Thank you Golfer, that's a really good addition to Philips system, and it looks work pretty good.
Could you please tell where the Phillip 1 min trade news system is, I tried to find it with search, but it does not show it.
  • #1,310
  • Edited 11:32pm Jun 1, 2007 11:12pm | Edited 11:32pm
Quoting alexfot
Thank you Golfer, that's a really good addition to Philips system, and it looks work pretty good.
Could you please tell where the Phillip 1 min trade news system is, I tried to find it with search, but it does not show it.
Hi A

The 1min news system is part of this thread and is based on this system. Just before the news, change your time frame to one minute. Use the very same rules but don't look/use at the SMAangle window or ADX. A pullback into the zone and the price move away from 21MA - enter.

Be aware if there is not pullback - like the attached example.
Attached Image (click to enlarge)
Click to Enlarge Name: euru$ 20070424 news 1min.jpg Size: 73 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,311
  • Jun 2, 2007 5:06am Jun 2, 2007 5:06am
Hey friends .. go to and have a this weekend !
  • #1,312
  • Edited Jun 3, 2007 11:23am Jun 2, 2007 11:57am | Edited Jun 3, 2007 11:23am
Quoting Golfer
Hi A

The 1min news system is part of this thread and is based on this system. Just before the news, change your time frame to one minute. Use the very same rules but don't look/use at the SMAangle window or ADX. A pullback into the zone and the price move away from 21MA - enter.

Be aware if there is not pullback - like the attached example.
Thank you Wil, I was trying to use it on news with 5min chart and it did not work good, I'll try with 1 min.
In your last chart the signal could be filtered out by your your small S/R line, could not it?
  • #1,313
  • Jun 4, 2007 4:44am Jun 4, 2007 4:44am
0842 GMT. EURUSD looks to have a good trend, from the angle of the 50 sma, will be a candidate I am looking at for the trade today.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070604 EURUSD 0931 GMT.gif Size: 15 KB
  • #1,314
  • Jun 4, 2007 4:47am Jun 4, 2007 4:47am
be very carefull at the support lines !! It made a very big jump!
  • #1,315
  • Jun 4, 2007 4:53am Jun 4, 2007 4:53am
"walking hand in hand .."

Nice setup anyway
Attached Image (click to enlarge)
Click to Enlarge Name: 2 sisters 4-6-2007.jpg Size: 52 KB
  • #1,316
  • Jun 4, 2007 5:25am Jun 4, 2007 5:25am
1022 GMT. Long at 1.3462 with 10 pip stop.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070604 EURUSD 1022.gif Size: 17 KB
  • #1,317
  • Jun 4, 2007 5:52am Jun 4, 2007 5:52am
Be carefull ... the jump was caused by fundamental data and there are no more higher hights .. Wish you luck!
  • #1,318
  • Jun 4, 2007 7:03am Jun 4, 2007 7:03am
1201 GMT. Can take profits on 1/2 position with 12 pips profit. The remainder position is what trader should strive for: Let profits run, cut losses short.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070604 EURUSD 1201 GMT.gif Size: 16 KB
  • #1,319
  • Jun 4, 2007 7:17am Jun 4, 2007 7:17am
The situation above (good for you EM!) remainds me a question I wanted to ask for a long time: How long do you wait in such a situation (see the print-screens above)? After how much time do you consider that the waiting should be ended with 0, +1, +2 profit or -1, -2 pips lost because the situation "cooled off" and it is taking toooooooo long?

Do you respect the SL and TP the way you put them at the beginning?
  • #1,320
  • Jun 4, 2007 8:02am Jun 4, 2007 8:02am
Petrol
A wise trader once told me that before a trade is put on, we must know the stop loss and take profit levels beforehand and stick to them. We are trading based on certain parameters of the setup, in this case, the behaviour of the pullback to the mov avg, after the initial thrust, with the premise of follow through.(whereby profits will be pocketed) The trader says "we must set the parameters of the setup, and let the trade run the course. You cn't make a living by jumping at every tick up and down, getting stressed and nervous..." Jumping out of the trade and seeing it go in your favour, will create more stress...

I think that mindset is the way to go, to be a professional trader.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070604 EURUSD 1303 GMT.gif Size: 17 KB
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