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5Min Intraday System

  • #2,481
  • Oct 25, 2007 2:33am Oct 25, 2007 2:33am
sydney and asia market is very borin today.. no possible trade available. hope there will an action on europe market.
  • #2,482
  • Oct 25, 2007 7:08am Oct 25, 2007 7:08am
Quoting Golfer
Chart 2:

Entry and exit for 10pips profit with a Church to Right formation.

Chart 1:

Just to show you how a tail can hurt you. If you haven't chart 2 in front of you, would you consider another long trade?

so 'church to right' means price ranging into the zone between the 2 EMAs...........cute name.

so a candle with a tail like that is like a pinbar where the price moves AWAY from the tail ?
  • #2,483
  • Oct 25, 2007 7:20am Oct 25, 2007 7:20am
Quoting findcount
so 'church to right' means price ranging into the zone between the 2 EMAs...........cute name.

so a candle with a tail like that is like a pinbar where the price moves AWAY from the tail ?
Hi Fc

Just an interesting observation from my side:

Church to right means that you will have a "high" (chuch/bell tower) followed by small pullback and then a period of consolidation (church building). During that time the MAs are catching up and usually you get a up movement (support) from the 10MA or the small resistance line. Buyers are pushing the price upwards.

The opposite is where you do get a high but immediately there is a pullback straight throught the 10MA, war zone and the 21MA (what they called an aggresive turn around on the 4h MACD system). STAY AWAY.

I'll post to pictures later today to explain.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,484
  • Oct 25, 2007 9:16am Oct 25, 2007 9:16am
Pictures as promised. Tow pictures of Church to right.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20071025 church to right 1.gif Size: 19 KB
Click to Enlarge Name: 20071025 church to right 2.gif Size: 17 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,485
  • Oct 25, 2007 9:30am Oct 25, 2007 9:30am
Picture 1 is aggressive turn around - no respect for 10MA, war zone or 21MA

Picture 2 is a combination - first a Church to right with entry points indicated by arrows. You could have entered earlier. Very nice one - wait for the church bells to call you to enter.

Then came the aggressive turn around - no support and no building formed. No church, no bells, ignore setup.

Can you see why one should just entered on the first pullback (first candle into war zone) into the war zone? Wait and see, look for support on the 21MA.

This is an example of a formation that should call you (hear the church bells ringing/calling you) to pull the trigger - not you looking for a trade!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20071025 aggresive turn around.gif Size: 18 KB
Click to Enlarge Name: 20071025 church to right and at.gif Size: 19 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,486
  • Oct 25, 2007 12:56pm Oct 25, 2007 12:56pm
Two trades today on EY and other tradable setups marked with arrows. The setups marked with "x" are the setups I would not have taken.

Patience and discipline!!!!!!!!!!!!

Trade the high probability setups (recognised price patterns)!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20071025 5min trade 2.gif Size: 28 KB
Click to Enlarge Name: 20071025 5min trade 1.gif Size: 30 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,487
  • Oct 26, 2007 2:24am Oct 26, 2007 2:24am
Hi guys.

I am also using fibs retracement area to enter the pullback. 50% fib providing a pretty good entry point, as this trade shows.

net +14 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 10-26-07 fib.jpg Size: 227 KB
  • #2,488
  • Oct 26, 2007 5:56am Oct 26, 2007 5:56am
@ishak
could you please send me the fibo indi? thanks..
  • #2,489
  • Oct 27, 2007 7:11am Oct 27, 2007 7:11am
Quoting Golfer
Hi Fc

Just an interesting observation from my side:

Church to right means that you will have a "high" (chuch/bell tower) followed by small pullback and then a period of consolidation (church building). During that time the MAs are catching up and usually you get a up movement (support) from the 10MA or the small resistance line. Buyers are pushing the price upwards.

The opposite is where you do get a high but immediately there is a pullback straight throught the 10MA, war zone and the 21MA (what they called an aggresive turn around on the 4h MACD system). STAY AWAY.

I'll post to pictures later today to explain.
awaiting your guidance.....master.........
  • #2,490
  • Oct 27, 2007 11:36am Oct 27, 2007 11:36am
Quoting findcount
awaiting your guidance.....master.........
Hi Fc

See above posts - #2484 & 2485 - for explanation and examples of the price patterns
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,491
  • Oct 27, 2007 3:35pm Oct 27, 2007 3:35pm
Hey Golfer don't know if there is something wrong with my pc, but i am logged into FF but i can't see any of the attachments
  • #2,492
  • Oct 27, 2007 11:17pm Oct 27, 2007 11:17pm
Quoting gunset
@ishak
could you please send me the fibo indi? thanks..


Do your research on Fibonacci retracements.
In a nutshell, when you see a break out and substantial move, expect the price to retrace about 50%. After a breakout, most of the time, price always pullbacks and then resume in the direction of the previous trend.
Fibs (short for fibonacci retracements) works very well. Most experienced traders look for 23%, 38% , 50% and 62% retracement areas to enter the trend.

Good luck and good trading.
  • #2,493
  • Oct 28, 2007 9:14am Oct 28, 2007 9:14am
Quoting gunset
@ishak
could you please send me the fibo indi?
thanks..
Hey, Gunset! Fib is a public indicator on any platform.
  • #2,494
  • Oct 28, 2007 12:17pm Oct 28, 2007 12:17pm
Quoting Trader_Mike
Hey Golfer don't know if there is something wrong with my pc, but i am logged into FF but i can't see any of the attachments
Hi Trader

Sorry, but I cannot help you. I can see it on my computer. Maybe somebody else can assist?
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,495
  • Oct 28, 2007 12:21pm Oct 28, 2007 12:21pm
Quoting alexfot
Hey, Gunset! Fib is a public indicator on any platform.
Hi A

Thanks for your assistance.

Newbies - MT4 platform users:
I do agree with Isak - before you even think of trading (demo), do some homework on the basic principles of forex trading. If you do see a new concept/word used, go to some websites and do some reading. You won't find all the information on this thread, maybe just the essential (just enough to confuse you) but not enough to be usefull.

There are several websites and also threads to assist people with MT4 platforms. Take some time to study the mt4 platforms - there are great features that one can use. Also additional indicators can be downloaded.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,496
  • Oct 28, 2007 3:28pm Oct 28, 2007 3:28pm
Quoting Golfer
Hi A

Thanks for your assistance.

Newbies - MT4 platform users:
I do agree with Isak - before you even think of trading (demo), do some homework on the basic principles of forex trading.

Thanks Willem,
People normally complicate things, instead of simplifying. I am just beginning to learn to do the other way (simplify).
Basic and most important trading ideas are very simple and easy to find for free. Can't even imagine life before Google search.
"Just Google it." anything you want to know, including fibs.
  • #2,497
  • Edited 7:53pm Oct 28, 2007 7:52pm | Edited 7:53pm
Quoting Trader_Mike
Hey Golfer don't know if there is something wrong with my pc, but i am logged into FF but i can't see any of the attachments
Click at your Nic.... left hand side , you will see
User Control Panel..
scroll down to
Thread Display Options
and click show Images. save your setting
Hope that will help you...
if it still not show the image... then maybe bc of your Firewall..
Same thing happen to me before...
  • #2,498
  • Oct 29, 2007 12:58am Oct 29, 2007 12:58am
Quoting sovo1970
Click at your Nic.... left hand side , you will see
User Control Panel..
scroll down to
Thread Display Options
and click show Images. save your setting
Hope that will help you...
if it still not show the image... then maybe bc of your Firewall..
Same thing happen to me before...
Hi Sovo

Tx, I hope it helps.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,499
  • Oct 29, 2007 8:26am Oct 29, 2007 8:26am
Quoting Ishak
Hi guys.

I am also using fibs retracement area to enter the pullback. 50% fib providing a pretty good entry point, as this trade shows.

net +14 pips
always wait for 50 pips retrace or can 38% do too ?
  • #2,500
  • Oct 29, 2007 9:57am Oct 29, 2007 9:57am
Just to show you how you can combine the 5min and 4h system. Look at the two arrows on the 5min chart - the two setups according to 5min rules. Just look at all the Dojis on the 5min chart.

Now look at the 4h chart - aggresive turn around/RT and Phillip mentioned a possible pullback to the 8MA on the 4h thread.

The two 5min trades are in line with the 4h system - high probability trades.

What a beauty - two systems complimenting each other! And combine that with daily pivot lines & fib lines!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 200710229 5min setups.gif Size: 28 KB
Click to Enlarge Name: 200710229 4h chart.gif Size: 21 KB
Willem Forex recipe for success = Patience, discipline & hard work.
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