5Min Intraday System

Just another example of 3 little sisters formation on Cable, bending the rules for an entry resulting in 10pips profit.

Note that the 3little sisters should occur below the 50MA to be effective. I would have like to see the 3rd sister to be formed closer to the 50MA than this example.

Hi Mk

My pleasure - as I told Phillip this week: You cannot learn a system within a month or two. I started in Feb with this system and I decided to give it a go. I've tried the other 4hMACD system but I first want to master/understand one system. Now that I started to understand the price movements/patterns, I started to enjoy it.

I don't believe in jumping around as many systems as I can (I've tried about 5 systems on ff), try them a few times and then move on. I just scan them and decide if it is simple enough for me.

Enjoy your trading.

Church to Right (my own name for this price pattern) - a very interesting format on the 5min system as I've shown on My Rules (Appendix D) on previous page.

Another two examples on EY today and it looks if the church building (support found marked with the rectangle) should be begining to form within 3-4candle after the high (church tower) and should stay above Small Support line. Otherwise the setup is cancelled and no entry should be taken (risk that SL will be triggered - too big pullback).

Just an interesting observation.

Just look at the this pattern developed next to each other - jusy what I've explained in the previous post.

"A" is the highs and look how early the price found support (arrow) to form the Building "B" consisting of small candles. This support is usually on the 10MA. Then the 21MA catch up. Now you can expect a continuation of the uptrend.

But what happen at point "C"? No support found at point "?". And don't expect a movement back upwards.

I'm new to this strategy & liking it very much--thnx to all.
I'm not very comp. savvy & the above indicator was presented as ex4, which won't download on my comp.; but mq4 will work. I've searched the forum, but couldn't find mq4. I may not be explaining this accurately, but hopefully someone will understand.
Can anyone help?
Thnx in advance----Sid

Never mind--I downloaded it, but IT WON'T APPEAR IN A LOWER WINDOW ON THE CHART. Help, pls.
Thnx, Sid

Hi Y

Did you follow my rules, as explained on the previous page? I think it's Appendix A. The page numbers where you can find the indicator is also in there. The indicator it should be placed/saved in the correct folder of the training platform on your computer - very crucial. Otherwise it won't work.

I just don't have time now to assist you - let me know how you are doing throughout the day. I'll be back home after 15H00GMT.

Hi,

two trades this morning, one success, one break even:

+15.1 Pips in EUR/JPY

http://www.leidel.net/dl/fx/charts-i...jpy_121007.png

+0.5 Pips in USD/JPY

http://www.leidel.net/dl/fx/charts-i...jpy_121007.png

Regards - Xaron

And here to show how to NOT do it.

My entry was just too early...

GBP/USD: -10.0 Pips

http://www.leidel.net/dl/fx/charts-i...usd_121007.png

Regards - Xaron

Hi X

Welcome back - hope the trip went well.

Well, you cannot win them all. Just look at the previous setup on your chart - a perfect "Reversed church" formation (however a bit small). I've just drawn and saved the picture to be put on the thread later today for people to see. Then I read your post.

I had an academic session - didn't follow the markets. Well done with the previous two.

Nice charts, man.
Hope you don't mind, but I just thought I'd point out something from your USD/JPY and GBP/USD trades.

On my USD/JPY chart, where you took your trade, I see the price was moving sideways along the M2 line (midpoint between the Pivot and S1), so it's not a trade I would have taken, seeing as price was on a strong support line.

On my GBP/USD chart, again where you took your trade, price bounced off the M1 line (midpoint between S1 and S2) up into the war-zone. I can't see how you didn't get a good trade there, mate, because from what I can see, you could have netted yourself around 14 pips.

Just thought I'd point these out for you, mate, and add that I never lose an opportunity to promote the usefulness of Pivot lines!

Nice charts, man.
I hope you don't mind, but I'd like to make a couple of comments re your trades.

USD/JPY.....On my chart, the price was right on the M2 line (midpoint between the Pivot line and S1), so to my mind, a trade just wouldn't have been feasible, mate.

GBP/USD.....Again, on my chart, there was a pull-back from the M1 line (midpoint between S1 and S2) back into war-zone. An entry there would have netted you around 14 pips, if I'm not mistaken, so I just wondered what the problem was with your entry?

My apologies in advance, mate, if all this seems pretty obvious, but I just thought it might be helpful for you if I pointed out the roles of the Pivot lines in both examples.

Cheers for now.

My apologies for the repeat. Not sure what I did. Probably hit the wrong key or something!

Cheers

My stop in the cable was just to tight.

Regards - Xaron

Understood. These things happen, mate.
Thanks for your reply.

Cheers

this may sound silly but i realize that since prices are in a tight range and all the 3 MAs show this as they merge........a breakouts always happen after that........

so maybe we can trade the breakout ?

very sorry if this is stupid idea..........

Hi Fc

Never a stupid question/idea - it is what you do feel comfortable with.

I like to trade what I see and what is familiar to me. If I do see a price pattern developing (e.g. ascending triangle) I know that the change is 70-80% that there will be a continuation to the upside. I'll prepare myself for the trade.

The same for the 3 little sisters - You'll see the second sister and then the pulback to form the 3rd sister. Then you know you should be prepare to pull the trigger. If the next high is formed above the 2nd sister, you know you can relax and wait for the next setup.

If I look at a chart and I don't see anything familiar, I'll wait. Don't look and look and try to find a trade/setup. I can asure you - you will find a setup but is it a high probability setup?

THE SETUP MUST CALL YOU - YOU SHOULD NOT BE CALLING OUT/LOOKING FOR A SETUP.

THAT MEANS PATIENCE!

Once you start looking for setups, be careful!

The same for your setup - if you are familiar with trading the breakouts and you can identify certain familair patterns and you have proof that it is working, go for it.

Just sharing with you what I've learned from forex trading since meeting Phillip.

Just an example of my previous post:

A = SMAangle coming out of the non-trade zone (familiar). Get excited - something is happening (wrong!). Al that I'll do is draw a small support line in meantime.

1 = Immediate there is a close on the wrong side of the 21MA - meaning trouble.

2 = Then a bounce off the 21MA but nothing familiar before that - no trade for me.

3 = Then 21Ma broken and support find on 50MA - so what? Doesn't mean anything for 5min system.

4 = Look at that nasty tail - now be very careful.

5 = Once again 21MA broken and support on 50MA - so what?

Nothing familiar to consider a trade so far even though the 21MA is above 0.1 line.

6 = Then something familiar - three lower highs (3little sisters) meaning don't consider any more long setups such as "7". And what happened? My 80% prediction was right

That is why I've develop Appendix D of My Rules. And I intent to keep it up-dated - probably for myself because that is how I want to trade in future.

A "bad trade setup":

A setup I was watching today - I was waiting for a "Reversed Church" formation below the rectangle between the two arrows. But look at the higher lows being formed just above the triangle. I then stopped watching and didn't consider taking the pullback to the 21MA during the next candle (big blue one after 2nd arrow).

Thnx for all your help, BUT, you say save SMAangle in 'indicator' sub-folder of the 'expert' folder. Then go to 'program files', then 'MT4 platform'...then 'experts', then 'indicator'. (I printed Appendix A).

I haven'a clue as to what that's about--sorry. All I have is the SMAangle in my 'custom indic.' window.
Appreciate your help.
Sid