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5Min Intraday System

  • #2,101
  • Sep 4, 2007 2:20pm Sep 4, 2007 2:20pm
Just to show you how to follow the formation of the 3 little sisters. Our first 2nd sister was cancelled and a new 2nd sister formed. One just cancel the first 2nd sister and the new lower high becomes the 2nd sister. As long as the 1st sister's high is not broken and stays intact.

Now we are waiting for the 3rd sister.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,102
  • Sep 4, 2007 2:29pm Sep 4, 2007 2:29pm
Quoting bshadroo
hi
i think u can find complete rules on page 103.
(please correct me golfer if i wrong )

Thanks I got it.
  • #2,103
  • Sep 4, 2007 3:11pm Sep 4, 2007 3:11pm
And we do have the 3 little sister formation - as predicated. The reason why I won't enter a long trade after horizontal line A.

If this pattern was below the 50MA and the 21MA was almost exiting the non-trade zone, I would have taken the odds on.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,104
  • Edited 3:49pm Sep 4, 2007 3:46pm | Edited 3:49pm
Thanks for your comments re my chart from this morning. Yes, I had spotted the "smooth rounding", which unfortunately I didn't mention in my analysis.

I always look forward to seeing your charts where you demonstrate the "3 little sisters" concept. It's the one thing in this system that I have difficulty identifying, so your charts are really very helpful for me in that respect, mate.

Take care

Cheers

By the way, that's a VERTICAL line in your chart, not a horizontal one! Sorry to be a nit-picker, mate!!
  • #2,105
  • Sep 4, 2007 11:30pm Sep 4, 2007 11:30pm
Quoting eyevoltage
Thanks for your comments re my chart from this morning. Yes, I had spotted the "smooth rounding", which unfortunately I didn't mention in my analysis.

I always look forward to seeing your charts where you demonstrate the "3 little sisters" concept. It's the one thing in this system that I have difficulty identifying, so your charts are really very helpful for me in that respect, mate.

Take care

Cheers

By the way, that's a VERTICAL line in your chart, not a horizontal one! Sorry to be a nit-picker, mate!!
Hi EyeV

Sorry about the lines and thanks. It is happening because I was trying to concentrate on the charts as well. It could be confusing - so thanks gor correcting me.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,106
  • Sep 4, 2007 11:39pm Sep 4, 2007 11:39pm
Great example today of "3 black crows" pattern on EY meaning the trade in area A is on.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,107
  • Sep 5, 2007 2:41am Sep 5, 2007 2:41am
Hi Golfer
Can you add alert to SMMA INDICATOR, Also Can you explain how I can add New MA to SMMA ?? Thank
  • #2,108
  • Sep 5, 2007 2:53am Sep 5, 2007 2:53am
Quoting forex111
Hi Golfer
Can you add alert to SMMA INDICATOR, Also Can you explain how I can add New MA to SMMA ?? Thank
Hi F111

Unfortunately no. I don't have an alert for SMAangle indicator.

Look on page 103 - there is a file with a document explaining how to build the SMAangle indicator. You can just drag and drop an indicator to the SMAangle window. Don't use the option "attach to chart" - that will put the MA on the main chart window. And you need to use the correct MA (not "custom indicators" - as explained in that file.

I hope it helps you.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,109
  • Sep 5, 2007 4:34am Sep 5, 2007 4:34am
Thanks
I try it but not success, see attached First SMAA I download it from your side, next one I added, and I added MFI to same windows, But MA not accepted to Drag, Always Going to Price windows. Can you add more 2 MA to same SMMA windows and I will download it, I will try to Make Sound Alert w Email.
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  • #2,110
  • Sep 5, 2007 5:53am Sep 5, 2007 5:53am
Quoting forex111
Thanks
I try it but not success, see attached First SMAA I download it from your side, next one I added, and I added MFI to same windows, But MA not accepted to Drag, Always Going to Price windows. Can you add more 2 MA to same SMMA windows and I will download it, I will try to Make Sound Alert w Email.
Hi F111

No, I've never tried to put 2 indicators in the SMAangle window.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,111
  • Sep 6, 2007 4:00am Sep 6, 2007 4:00am
I thought I'd post this trade, as it has good examples of some candlestick messages that the newbie might not notice. My trade is indicated by the two yellow arrows, but if you look at the start of the pull-back, you'll notice an "upside-down hammer"; in other words, a candlestick with an upper shadow longer than the real body. I once saw this candle described as a "YIKES!!" candle, as, a lot of the time, it can signify a rapid turnaround. In this case, if you'd been long, the appearance of this candle would have been a strong message to jump ship....pronto! Similarly, if you look at the candle that forms after my second yellow arrow, you'll see the same signal. Their opposite number, the hammer, is also worth watching for when there's been a strong downtrend. As for the trade, a nice leisurely pull-back followed by a lovely turnaround just above the 21ema and the trend line, resulting in a 12 pip profit after spread.
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  • #2,112
  • Sep 6, 2007 8:29am Sep 6, 2007 8:29am
I'm still very much in the "Fooling Around Stage" of Phil's system but this chart was so pretty I wanted to post it.

I entered a $JPY sell at 115.10 when the tip of the hammer closed in the war zone. There had already been a triple bottom of resistance, as price dropped I closed early at 115.05 as a spinning top was forming.

I could have held on a few more minutes and got my original target of 115.02, but as I said I'm still just "Fooling Around"! :
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  • #2,113
  • Sep 6, 2007 11:26am Sep 6, 2007 11:26am
Quoting DaTrader
I'm still very much in the "Fooling Around Stage" of Phil's system but this chart was so pretty I wanted to post it.

I entered a $JPY sell at 115.10 when the tip of the hammer closed in the war zone. There had already been a triple bottom of resistance, as price dropped I closed early at 115.05 as a spinning top was forming.

I could have held on a few more minutes and got my original target of 115.02, but as I said I'm still just "Fooling Around"! :
Hi DaT

Very interesting - I took the very same trade. I was waiting for a pullback to the 21MA and entered on the first bounce off the 21MA. As you can see, sometimes I do give the price 1-2 candles through the Small resistance line.

I got my 10pips nett profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070906 $y 5min trade 1.gif Size: 30 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,114
  • Sep 6, 2007 11:33am Sep 6, 2007 11:33am
My trade on cable today using the "big number" (2.0200) as resistance and what looks like the candles' highs were getting lower ("triangle being formed"). I did this trade on my mobile phone because I lost my connection with my computer at home.

My second trade for the month - both positive so far. I think that is what I call patience!

15pips profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070906 cable 5min trade 1.gif Size: 25 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,115
  • Sep 6, 2007 11:41am Sep 6, 2007 11:41am
Quoting eyevoltage
I thought I'd post this trade, as it has good examples of some candlestick messages that the newbie might not notice. My trade is indicated by the two yellow arrows, but if you look at the start of the pull-back, you'll notice an "upside-down hammer"; in other words, a candlestick with an upper shadow longer than the real body. I once saw this candle described as a "YIKES!!" candle, as, a lot of the time, it can signify a rapid turnaround. In this case, if you'd been long, the appearance of this candle would have been a strong message to jump ship....pronto! Similarly, if you look at the candle that forms after my second yellow arrow, you'll see the same signal. Their opposite number, the hammer, is also worth watching for when there's been a strong downtrend. As for the trade, a nice leisurely pull-back followed by a lovely turnaround just above the 21ema and the trend line, resulting in a 12 pip profit after spread.
Hi EyeV

Great trade, eye. Nice 2candle bounce entry. Great observation abour candle formation. I'm trying to use/look for it more and more in the setups to confirm a great setup.

But take note that this is a 5min chart and candle formations are more reliable on longer time frame. However, I feel one should take notice of them
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,116
  • Sep 6, 2007 6:01pm Sep 6, 2007 6:01pm
Great charts, mates. I love to see lots of charts, I really do. The only way to learn, IMHO.
DaTrader, for someone who is only at the "fooling around" stage, you seem to have a remarkable grasp of the system already, so don't be too hard on yourself. Your reasons for exiting were perfectly viable, so well done, mate.

Willem, once again, superb charts, my man. I wish we could get more folks on here to post some charts. I wonder if they're afraid of being flamed or something? If so, as far as I'm concerned, they've got nothing to fear. I can't honestly see anybody on this thread being anything but helpful and complimentary, can you?

I note what you say about short-term candles, Willem. I agree that the longer the TF, the better the signals, but when you've got a system like this one i.e. a 5min one, then one has to do what one can with whatever's at one's disposal. Personally, I think that candle formations work on whatever TF you're on, but still, you have a valid point, Willem.

Cheers
  • #2,117
  • Sep 6, 2007 9:18pm Sep 6, 2007 9:18pm
Hi all !!!!

Damn what a great thread thanks to all involved.

I'm a newbie but thought I'd show a nice setup and trade I executed today on the system.

The trade was on the gbp/jap I actually took 15pips but trying to stick the m/management of golfer and phil and only take 10pips/trade. I think golfer would of avoided this one cause of the pivot point but I'm not sure if my pivot points are set right so I use fibbo's instead.

I don't play around with the system although for another confirmation I try and have euro/jap, us/jap, gbp/jap in synch(at least 2)with eachother before entering the trade.

http://i232.photobucket.com/albums/e.../jap15pips.gif
  • #2,118
  • Sep 6, 2007 11:22pm Sep 6, 2007 11:22pm
EyeVoltage,

I encountered the same problem with the SMAAngle and the problem is you are probably using a bad version of the indicator (SMA_Angle vs SMAAngle). Enclosed is the version I am using and I have no problems zooming in and out now.

TimeFreedom

Quoting eyevoltage
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
Attached File(s)
File Type: ex4 SMAAngle.ex4   3 KB | 531 downloads
  • #2,119
  • Sep 6, 2007 11:45pm Sep 6, 2007 11:45pm
Quoting letitride
Hi all !!!!

Damn what a great thread thanks to all involved.

I'm a newbie but thought I'd show a nice setup and trade I executed today on the system.

The trade was on the gbp/jap I actually took 15pips but trying to stick the m/management of golfer and phil and only take 10pips/trade. I think golfer would of avoided this one cause of the pivot point but I'm not sure if my pivot points are set right so I use fibbo's instead.

I don't play around with the system although for another confirmation I try and have euro/jap, us/jap, gbp/jap in synch(at least 2)with eachother before entering the trade.

http://i232.photobucket.com/albums/e.../jap15pips.gif
Hi L

Yes, perfect setup. I saw the very same setup on the EURJPY and $JPY and it is still continuing as we speak. I saw it too late as I am preparing to leave for work. You cannot get better than setup A (triangle being formed and then the breakout) & B (smooth round pullback). Two of my favourite setup patterns right after each other.

Still struggling with the Isma and the ADX I saw.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,120
  • Sep 7, 2007 12:28am Sep 7, 2007 12:28am
This setups are so important I want to zoomed in and explained before I am off to work.

Setup A:

Just look at the lower highs being formed on each candles all along the Small resistance line - triangle being formed. I would have entered on the 10MA under the arrow. Another option is the doji just before - enter on the 21MA.

Setup B:

The large red candle is a bit of a concern but after that just look at how nice fits the ellipse under the candles. Entries could have been under the two areas. If you choose arrow C from the 10MA, look at the recent low (D) and make sure there are more than 10pips in it. Because you can expect the price to turn near that point.

Now I am late for work!
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
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