5Min Intraday System

This pair may continue to go down further after a bounce from the daily pivot... waiting for a pullback...

arrghh... my platform got problem after I installed a demo instance..

short at 161.75

resistance at 161.60 level

Just my trades, I didn't reach my target but will stay out now. I don't like those days where a interest rate decision comes up...

EUR/USD
#1:
Long at 1.55946
1st half closed at 1.56026: +8.0 pips
2nd half closed at 1.55956: +1.0 pips
#2:
Long at 1.55931
Closed at 1.55941: +1.0 pips

http://www.xaron.net/dl/fx/2008/intr...usd_300408.png

USD/JPY
#1:
Short at 103.795
Closed at 103.791: +0.4 pips

http://www.xaron.net/dl/fx/2008/intr...jpy_300408.png

Regards - Xaron

Trade for EURUSD - following a trend...

A great target would be S1.

In and out for 7. I was a little concerned because the DMI- was showing a double peak. Price did flatten before ticking up again but either way, mission accomplished for today...

It can be a little hectic trying to get a screenshot showing the actual buy/sell line on the chart with pips in the positive and the position still open unless the position is running and trailing a stop. So, these will be closed trade screenshots. Pips are pips...

Here's a little indicator that I put together or hacked from someone else. It's all based on what the three moving averages are doing. All it does is draw a green block when the 10ema > 21ema and the 21ema > 50sma and the 10ema >50sma to show that the moving averages are in a bullish trend. It draws red blocks when the trend is bearish. Gray bars are drawn when the moving averages, hmmm...have no rhythm. You know I had to throw that in there.

I 'attempted' for the indicator to draw yellow blocks when price is in the war-zone during either a bull trend or bear trend as a 'get ready to act' visual signal. But, there is something that isn't working with the logic. The logic is correct, at least I think it is, but for some reason it redraws previous bars yellow or 'sometimes' draws the current bars in the war-zone yellow. If you look at the code, look at the /// block of code and there is the 'yellow block' code. You're more than welcome to try to fix it. If you do, please repost it here in the thread.

Why did I do this?
For me, it's a lot easier to see the blocks from a distance versus looking at the mavg. lines and know that the trend is either bullish or bearish. You can reduce the indicator window as much as you want so the screen space taken up is minimal.

Should you still plot the moving averages?
Definitely! This does not take the place of the moving averages at all. It's just a visual compilation of the moving averages.

See screen shot:

can pls post the trend continuation alert u have on that chart.pls?thanks

Entered short for EURJPY after a pullback... 20 pips in less than 1 min.

Tip: I always see price bounce after reaching those daily pivot points. I take profit on those areas...

Peace

ayour2a:

The continuation alert does not function correctly. It's still a work in progress.

I'm relatively new to this thread and I'm in awe of the high level of contributions and obvious successes gleaned by y'all. Philip's intelligence and patience is quite amazing and I also applaud Palmer, Golfer and esp. Xaron's thoughtful postings and openness regarding his trades. And of course all the others who have built this lovey place to be. You folks have definitly turned my trading around.

Thank you.

thanks for the quick reply.really appreciated.

EURJPY:

5 on the first floating 15 on the second....4 for 4 for the week...

Note the 'repainted' yellow bars on the indicator????

This is a very good trading strategy. I first tested it on demo last week. I started using it live just this week and there were a lot of opportunities to trade everyday. I have more trades in a day and I'm more confident in the prices showing it's direction.

I read only the first 2 pages and look at the sample charts given. I just use the original 10ema, 21ema and 50sma and nothing else. I guess I have no need of adding any other indicators. I now use it to trade E/J, U/J, E/U, G/J, and G/U.

I'd like to thank Phillip Nel for this easy and simple trading strategy. Very easy on the eyes too.

Also, I like to thank Xaron for his advice on choosing a broker.

15 more on the second entry to the zone...

Total 25...

hey palmer, good to see you here , i have been following the 5 minute as well, mainly on euro and GU.
what is the yellow in the indicator for. did you make a change to it.
thanks

Hey Nadia:

That's the same indicator as the PNel5MinMAvg that I uploaded. Still working on the color change back into the war-zone but there's still some wackey stuff going on with it. It might have something to do with the actual 'Bid' price and how the code sees it versus what happened in the past. It might come down to just deleting it altogether. I was trying to 'see' something with other shades of green and red but that is adding too much to an already simple system. Sooooooo, in future posts if you see some 'yellow' bars that means I'm still trying to figure it all out. If I ever fix the problem I'll repost it. I may just end up posting a help question in the MT forum here to see if someone else can take a look at it...I'll repost it if it starts working the way it should....

This 2 pair are showing movements... let's wait for pullbacks...

Short EJ @ 161.70

EU has more nice curve but it's price is sitting on Weekly pivot S1. A bit careful..

Here's a chart of EURUSD with an opportunity knocking.... but a bit dangerous if you see on the left side.