5Min Intraday System

Quoting bshadroo

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i got it now,put ur sl 10pip from where i entered.no matter where u enter.
great thx

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Quoting eyevoltage

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I thought this trade was worth posting as it's another good example of the art of patience. In other words, waiting just for the right moment to pull the trigger. As you can see from this chart of EUR/USD, there's a spinning top, then a fairly strong bullish candle (1st yellow arrow). Another strong bullish candle then straddles the M2 line giving the indication that this could be more than a mere pull-back. However, the price stalls at said M2 line, and then just wanders along sideways for the next half-hour, DOUBLING the resistance of M2 by adding the 10ema to it! The 2nd yellow arrow points to a doji, signifying uncertainty, so we wait to see what happens. With the 21ema and the 50sma showing a healthy downtrend, it's no surprise that finally, the price starts dropping (magenta tick) and I pulled the trigger. Unfortunately, S1 proved to be a strong support, so I finished up with only 8 pips after the spread. A profit, nevertheless, and they're always worth waiting for.

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Quoting Golfer

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What I also liked about that trade was some indication of resistance found on the 10MA - price tends to make a flattish pattern. My small resistance line would have been a problem but well done.

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Quoting Golfer

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Did we have a pair of three little sisters on Cable today. I missed it because InterbankFX was off line for a while (twice I think) so I lost some price feed. That is why I couldn't be sure.

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Quoting ltklev

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Guys, I currently monitor the eurjpy,eurusd,gbpusd and usdjpy
What other good pairs can you recommend ?
How about the usdchf? I've seen you talking about it alot. Also, what settings should I use with it in the ADX? 0.1 ,-0.1?

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Quoting CHECKstar

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I really need to get better at spotting that pattern, I was staring at the cable charts all last night, trying to make some cash and totally overlooked the pattern. Thanks for the reminder Golfer!

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Quoting emacro

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1309 GMT. Tails inside the war zone but only one close within the zone.

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Quoting eyevoltage

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After I saw your original chart, I started watching this one also. I notice that you don't seem to use pivot lines, mate, so I thought you'd be interested in my chart. You can see that between the two yellow arrows, the price ambled sideways for a good hour before we saw any action. And all because of the mid-point line between R1 and R2. In the end, I'd lost interest, and only went back to it out of mild curiosity to see whether or not it'd been good to you.

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Quoting eyevoltage

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I haven't noticed this before on my charts, and I only saw it today by accident.

EUR/JPY70...........Looks like a good trade, with resistance at 10ema and the 21ema in the lower window set up nicely.

EUR/JPY71............I don't know why I zoomed in, to be honest, but I was surprised to see that the lower window 21ema was now in the "non-trade" zone, not having crossed the Zero OR -0.1 lines.

EUR/JPY72.............Just to be awkward, I then zoomed in twice to see what happened, and now the lower window 21ema is well into the lower "non-trade" zone, having dropped well below the -0.4 line !

I've never seen this sort of thing mentioned in the forums, so I'd be interested in any constructive comments. Isn't trading hard enough, without having to decide whether to zoom in or NOT to zoom in, in order to make a possible trade feasible?

Cheers

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