5Min Intraday System

Just another few examples of setups yesterday on the eur/yen with my explanations on the chart.

Just a great example of a descending triangle on the eur/yen a day or two ago. This is the type of price patterns I am looking for in a trade setup.

The chart that I've mentioned on Skype right now.

My quick trade on EUR - tried to start the dicsussion on Skype but no response. I've entered too early. I should have waited until the 21 met my small support line (second price). That could have resulted in 5pips profit.

I was hoping for a Church to right formation but it didn't happen. The pullback was too flat.

My trade today on the classic Church to right price formation. It is getting very quiet on the thread. I hope everybody is making money now - so we can start relaxing.

It seems like its not necessary for me to post so many examples anymore.

So, good luck with the trading.

beautiful examples on the thread!

i have been away for a few days on work, done a few trades i'll post next monday i hope to have time, done few good and few bad trades this week

about the alert system can be done if some few more guys get to confirm some input aswell which can help everyone make money!

nice weekend!

Quick 3 trades on EY for 23 pips profit - this pair will give you the opportunities to get 10pips if you follow the rules especially the Small resistance line.

I am currently studying this pair and the movements - very interesting pullbacks which repeat themselves. Phillip's 21MA and 50MA play an important role.

The fourth and the probably the last trade for me.

Do you see the 3 little sisters formation? The reason why I tried my luck and did the 4 trades in a row. I could have let the 3rd trade run but then it is Friday afternoon and I didn't really expect a run like this. Enjoy it when it continues to run.

Can you also see that there is a hind of a higher low after the 1st trade? The reason why I exit the second trade with only 3 pips profit

Please be on the lookout for Phillip's 3 little sisters formation and take it on - high probability setups.

Just to show people that it doesn't always work out. My negative trade - none of my high probability price patterns present and the 21MA is going down (on SMAangle) as well as the bars on the SMAangle indicator and the price went through the 21MA. Almost a round top being formed. Be careful.

My outcome for November 2007. In the last 2-3 weeks I've tried some other scalping systems (I bought before I met Phillip and my mini account decreases with another $20.00. Just to show you how reliable this system of Phillip is.

As from December 2007, I will only use Phillip's system as my scalping system.

Just study, understand and follow the rules and see for yourself. Also just stay with the pairs you are familiar with. I do follow only 4 pairs (almost two too many). Lately I try to focus on EUR$ and EURJPY.

Last week I've tried to activate the Phillip Nel's 5min strategy Skype chat again (I saw it was inactivate for 41 days). I'll try again this week if there is a possible setup after 15H00GMT on the 4 pairs I ma following and if I do have the time.

For anyone who is interested in this instant message chat, just send me an PM with your Skype ID and I'll put you on the chat. I see there are still some people on the chat but no activities.

I'll keep the chat focus on the setup with no other personal chats.

Hi Golfer, could you direct me to post or page where I can find explenation of 'Church to right' and '3 little sisters'.

P.S.

For me your charts are more useful than most of the info posted here, so thanks for this and keep it up. Soon I will post mine and I really encourage others to do so.

Hi Eq

My pleasure - so glad you do find the charts helpful. That is exactly what I am trying to do.

You will find the necessary information on page 156 - the appendix on high probability trade set-ups. They are the set-ups I've discussed with Phillip and he was convinced that if you do trade those set-ups, you can't really go wrong. But it takes patience and discipline to wait for them. But once you get used to it, it's very easy to identify them as they are being formed.

That is what I want to do on the Skype chat - to show people the initial formation of the price patterns. Then it's up to the individuals to decide whether they want to take the trade or not.

I hope you do find it helpful - I am trying to trade only those set-ups. But you know the human mind and emotions.......!!

Thank you Golfer.

City starting to plateau out in performance.

Hi Golfer!

I couldn't send you PM. There was some kind of error or something.
I'd really appriciate if you add me to skype chat
my ID sherzod_aka

P.S. I agree with Equinox. Your charts are really helpfull to understand this system and recognize patterns. Thank you and Phillip for your job here.
I'll try to post some of my charts too.

Hi,
I've just downloaded the indicators for this 5min system. I'm so excited to learn how to 'read' them. I have a problem though and wish someone will help. I don't understand the red dots and how to use them ....and how to be sure they are updating.

If this has all been explained in the thread, I can't find it. Can someone
direct me or explain it? Many thanks.
trademeister

Hi Sher_net

Pleasure.

Are you sure about your Skype ID? I've tried to find you but there is not match. Please try and contact me on Skype using whk139 so that I can add you to my contact list. Then I can add you to the chat.

Hi Trademeister

The dots are part of a EA. The reds are generated when the the price move into the war zone (area between the 10 and 21MA. (I think a close within the war zone). I've used it when I started with the system but no longer. Great tool to use to call you to the screen to evaluate the setup.

Please - not to pull the trigger when you see a red dot. See it as a wake-up call.

Just to show you what you can expect on the 5min Skype chat. As you can see, it would be your decision to enter the trade or not.

[06:11:37 PM] Willem Kruger says: Cable is giving bounces off the 21MA but it is too close to the R1 daily pivot line. I won't get involve - high risk trade setup

[07:55:18 PM] Willem Kruger says: EY coming out of non-trade zone - let see if we can find some sort of price pattern

[08:17:07 PM] Willem Kruger says: No price pattern - Small support line is broken. I'll ignore the setup.

[08:31:24 PM] cesare polimeni says: I took a loss on cable, entered at the 21ma bounce before reading your message that you won't get involved. I did see the pivot point and I knew it was risky, I broke my rule of staying out when action is low and paid for it!

[08:35:18 PM] Willem Kruger says: As long as you learn from it. I couldn't see any price pattern - another reason why I decided to sit on my hands.

[08:38:40 PM] cesare polimeni says: by price pattern, do you mean market emotion and candlestick patterns?

[08:43:35 PM] Willem Kruger says: My high probability setups as explained in the appendixes of My Rules. Ascending & Descending Triangles, Church to right, reverse church, ellipse pullback. And combine it with candle stick formations - doji, etc.

[08:44:14 PM] cesare polimeni says: thank you

[08:44:45 PM] Willem Kruger says: I had the very same problem - wanted to trade every possible pullback into the zone. look at the manner in which the price pullback.

Attached are the charts as discussed.