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Forex intraday using the 5min chart: EURUSD 108 replies

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5Min Intraday System

  • #4,081
  • May 28, 2008 5:43am May 28, 2008 5:43am
Quoting emacro
Golfer
Be my guest, annotate and explain...
I was following the same setup but My Small support line was broken - so I was no longer interested in a setup. That is why I ignore the TC and the power candle.

I took an earlier setup for 5pips profit - early exit because the price struggled around 1.5736. Just after my exit, there was a big bullish candle. But I am glad for my 5pips profit. Will post my chart later.

After that shooting star - I'll ignore the next setup as well.

I hope it helps.
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,082
  • May 28, 2008 6:25am May 28, 2008 6:25am
Golfer
Thanks for the comments on the last post.

This is another setup I took on eurusd.
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  • #4,083
  • May 28, 2008 6:34am May 28, 2008 6:34am
Quoting emacro
Golfer
Thanks for the comments on the last post.

This is another setup I took on eurusd.
Much better setup - classic textbook setup. I don't even have to mention all the signals because it is getting boring (TC, ellipse, ext.)

These are the setups you need to trade. I am sure the setup called you to take - you didn't look for it.

Well done.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,084
  • May 28, 2008 7:38am May 28, 2008 7:38am
short 1.5658, s/l 1.5668, t/p 1.5648, +10pips, +1R
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  • #4,085
  • May 28, 2008 8:04am May 28, 2008 8:04am
EU Sell 1.5632 Close 1.5627 +5pips
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Click to Enlarge Name: untitled1.jpg Size: 123 KB
  • #4,086
  • May 28, 2008 8:33am May 28, 2008 8:33am
Quoting islandtrader
short 1.5658, s/l 1.5668, t/p 1.5648, +10pips, +1R
I do like your analysis. And the thick black line drawn from the previous low - support that becomes resistance now. That is what I am looking for - another signal to look for.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,087
  • May 28, 2008 9:24am May 28, 2008 9:24am
Here's some nice scalp entries for today. Although I removed the 10ma. I prefer to use the 25-50-200 strategy plus the good 'ol macd... Basically it's still the same.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd_5m.JPG Size: 59 KB
Click to Enlarge Name: gbpusd_5m.JPG Size: 60 KB
Click to Enlarge Name: eurjpy_5m.JPG Size: 59 KB
  • #4,088
  • May 29, 2008 12:38am May 29, 2008 12:38am
All the above pairs are all below their pivots... had a good opportunities in asian session but i'm sticking to euro session...
  • #4,089
  • May 29, 2008 12:48am May 29, 2008 12:48am
Here's the GBPUSD nice slope.
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Click to Enlarge Name: gbpusd_5m_29may08_01.JPG Size: 88 KB
  • #4,090
  • May 29, 2008 12:52am May 29, 2008 12:52am
EURUSD slope
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Click to Enlarge Name: eurusd_5m_29may08_01.JPG Size: 87 KB
  • #4,091
  • May 29, 2008 12:59am May 29, 2008 12:59am
Did not get the 10 pips on offer. Pt off by the big candles.
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  • #4,092
  • May 29, 2008 1:09am May 29, 2008 1:09am
GJ Sell 207.425 Close 207.14 +28.5pips
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  • #4,093
  • May 29, 2008 1:11am May 29, 2008 1:11am
My trade this morning on cable - I don't usually trade this early because I don't like the Asian market. But I saw the setup and I like what I saw.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20080529 5min trade 1jpeg.JPG Size: 99 KB
Click to Enlarge Name: 20080529 5min trade 1ajpeg.JPG Size: 98 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,094
  • May 29, 2008 2:41am May 29, 2008 2:41am
GJ Sell 207.054 Close 206.95 +10.4pips
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Click to Enlarge Name: untitled1.jpg Size: 121 KB
  • #4,095
  • May 29, 2008 2:50am May 29, 2008 2:50am
Sorry but I just didn't have time yesterday to post my chance of my only trade yesterday.
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Click to Enlarge Name: 20080527 5min trade 1jpeg.JPG Size: 107 KB
Click to Enlarge Name: 20080527 5min trade 1ajpeg.JPG Size: 106 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,096
  • May 29, 2008 2:52am May 29, 2008 2:52am
GU: Sell 1.9732
EU: Sell 1.5606
  • #4,097
  • May 29, 2008 2:55am May 29, 2008 2:55am
Quoting winston
GU: Sell 1.9732
EU: Sell 1.5606
Move both to B/E.
  • #4,098
  • May 29, 2008 2:59am May 29, 2008 2:59am
Damn winston,

i watched the same entryīs but i didnīt do it, because i didnīt trust myself... Arghhhh.

What were your reasons for entering these two trades ?
Mine would have been:
EU: S/R-level
GU: S1
Donīt live for working, but work for living.
  • #4,099
  • May 29, 2008 3:00am May 29, 2008 3:00am
Quoting winston
Move both to B/E.
Entry at 50ma in case ur checking the chart - I'm a bit conservative
  • #4,100
  • May 29, 2008 3:10am May 29, 2008 3:10am
Quoting matsf
Damn winston,

i watched the same entryīs but i didnīt do it, because i didnīt trust myself... Arghhhh.

What were your reasons for entering these two trades ?
Mine would have been:
EU: S/R-level
GU: S1
yeah... same here... but i look at my 4H.. EU below 200ma and neg macd but sitting in s1. GU sitting in 200ma in div.. but for a short term... both has nice 500ma slopes
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