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5Min Intraday System

  • #5,181
  • Aug 14, 2008 4:52am Aug 14, 2008 4:52am
Hi Golfer, thanks for your generous dedication. Admirable to say the minimum. Where can we find the multitime frame adx indicator?
Best wishes.
  • #5,182
  • Edited 3:27pm Aug 14, 2008 6:24am | Edited 3:27pm
[05:47:56 a.m.] mkain dice: possible ellipse forming in e/j
[06:02:56 a.m.] scottyd14 dice:mkain ellipse as you pointed out ramping up do you wait for the macd to break the water line?
[06:05:31 a.m.] mkain dice:here is good see macd smoothnness and power candle as entry
[06:05:48 a.m.] scottyd14 dice:gotcha thanks

Profit : + 10
Attached Image (click to enlarge)
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  • #5,183
  • Aug 14, 2008 10:00am Aug 14, 2008 10:00am
Quoting mazamo
Hi Golfer, thanks for your generous dedication. Admirable to say the minimum. Where can we find the multitime frame adx indicator?
Best wishes.
Pleasure.

All my indicators that I am using are posted on p341 as indicated below my name on my posts (as part of my signature).
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,184
  • Aug 14, 2008 10:08am Aug 14, 2008 10:08am
Quoting mkain
[05:47:56 a.m.] mkain dice: possible ellipse forming in e/j
[06:02:56 a.m.] scottyd14 dice:mkain elliipse as you pointed out ramping up do you wait for the macd to break the water line?
[06:05:31 a.m.] mkain dice:here is good see macd smoothnness and power candle as entry
[06:05:48 a.m.] scottyd14 dice:gotcha thanks

Profit : + 10
Great zero breaks (a form of TC) on the MACD with bounces of the 34EMA (if it is the 34 that you do have on the chart). The second setup looks liek a nice power candle as well.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,185
  • Aug 14, 2008 11:11am Aug 14, 2008 11:11am
Just an example of a nice head and shoulder as mentioned on Skype. CT trading - the reason why I didn't take it but look for such a formation in a down trend and go for it.

[04:56:03 PM] Willem Kruger says: Just arrived home from work, my 3 pairs look bad right now. I'll wait and see. I'll something else in the mean time

[04:56:19 PM] Willem Kruger says: do

[05:10:28 PM] Willem Kruger says: Cable, just a nice head and shoulder
formed. Was very tempted to take it but not according to 5min rules. I had 10pips in it - CT trade with 10pips in it.

[05:11:40 PM] Willem Kruger says: EY - looking for a 3rd sister on the 50MA but Bullish 3 pattern is on the table. I won't take a short one here

[05:13:27 PM] islandtrader says: interesting shs on cable, also hidden divergence
[05:13:37 PM] islandtrader says: below pivot
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,186
  • Aug 14, 2008 1:58pm Aug 14, 2008 1:58pm
can anyone comment on my trade. wants to know if i am following the rules. The two trades signals where given around the 10ma not 10 - 21 zone. i have observed that sometimes taking trades around 10ma is high probability,especially when it is a fast trend. seyi
Attached Image (click to enlarge)
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  • #5,187
  • Aug 14, 2008 3:20pm Aug 14, 2008 3:20pm
Quoting seyionyx
can anyone comment on my trade. wants to know if i am following the rules. The two trades signals where given around the 10ma not 10 - 21 zone. i have observed that sometimes taking trades around 10ma is high probability,especially when it is a fast trend. seyi
You are right, when market speed is fast the first pullback just goes till 10 EMA usually.
Try to trade settups which you are familiar with, and watch your trade ( don't let a winner turn into a lost)
IMHO your first trade had a better look (doji + power bar).
  • #5,188
  • Aug 14, 2008 6:31pm Aug 14, 2008 6:31pm
Hi Golfer, thanks for the wonderful work you are doing on this thread. Please can you explain to me on how the ADX MTF works, forgive me for taking you back, I'm new to forex.
Thanx.
  • #5,189
  • Aug 15, 2008 2:52am Aug 15, 2008 2:52am
my eu trade for 30pips.i trailed this position with 15 pips and followed and closed in M1 chart manually for 30pips
Attached Image (click to enlarge)
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  • #5,190
  • Aug 15, 2008 8:11am Aug 15, 2008 8:11am
Quoting king4567
Hi Golfer, thanks for the wonderful work you are doing on this thread. Please can you explain to me on how the ADX MTF works, forgive me for taking you back, I'm new to forex.
Thanx.
Hi King

I am not going to discuss the ADX - there are free website out there that can do a better job than me.

See the attached post for the explanation of the multi-time frame ADX indicator.

I hope it is clear.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,191
  • Aug 15, 2008 8:17am Aug 15, 2008 8:17am
Quoting bshadroo
my eu trade for 30pips.i trailed this position with 15 pips and followed and closed in M1 chart manually for 30pips

Great trade - I am sure you did enjoy that one!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,192
  • Aug 15, 2008 10:24am Aug 15, 2008 10:24am
Quoting Golfer
Hi King

I am not going to discuss the ADX - there are free website out there that can do a better job than me.

See the attached post for the explanation of the multi-time frame ADX indicator.

I hope it is clear.

Thanx a lot, I've read something on ADX but couldn't decode the meaning of the arrows and equality sign on ADX MTF which is now clear, I realy appreciate your explanation.
  • #5,193
  • Aug 15, 2008 11:42am Aug 15, 2008 11:42am
A trade I can post! I did it on support and resistance but was certainly aware of the moving averages, and I use the MACD to help guide me in the strength of a move. I'm currently doing a 30 trade test of my approach, so that's why you see on the chart, trade 17 of 30. My approach is due, mostly, to the influence of Phillip's 4Hr MACD thread and of this thread. The insights provided on this thread by all of you, and especially by Golfer (Willem) are invaluable to me because I'm now completely sold on 5 minute trading. Phillip's influence is present in every aspect of every trade that I do. Wishing all of you the best as always, and thank you! --Tony
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 5min s-r trade 17 15aug2008.gif Size: 27 KB
  • #5,194
  • Aug 15, 2008 12:13pm Aug 15, 2008 12:13pm
I haven't see such a nice 3 little sisters formation in a long time. I marked the entry and exit points with the "price labels". Entry was 1 candle before the zero break occurs. But like I said, this is where I'll ignore the rules and enter a bit earlier.

Just look at the other TCs I've highlighted - the first 3 entries (small circles) are not that far away from the war zone. Great setups. But look at the 4th setup - entry too far away from war zone.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,195
  • Aug 15, 2008 12:21pm Aug 15, 2008 12:21pm
Quoting OldDog
A trade I can post! I did it on support and resistance but was certainly aware of the moving averages, and I use the MACD to help guide me in the strength of a move. I'm currently doing a 30 trade test of my approach, so that's why you see on the chart, trade 17 of 30. My approach is due, mostly, to the influence of Phillip's 4Hr MACD thread and of this thread. The insights provided on this thread by all of you, and especially by Golfer (Willem) are invaluable to me because I'm now completely sold on 5 minute trading. Phillip's influence is present in every aspect of every trade that I do. Wishing all of you the best as always, and thank you! --Tony
Hi Tony

Seems like you and me have the same eye for a setup. I posted my chart and then afterwards I saw your chart. I've just highlighted the TCs on the charts.

Yes, once get a feel for this system, it is very nice and you can get hooked very easily on this system. Especially once you get used to the system and you don't need to sit in front of your PC the entire day. It is nice when you reach a stage where you can just scan the charts and you'll know there is something going on or not.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,196
  • Edited 3:38pm Aug 15, 2008 3:18pm | Edited 3:38pm
Quoting Golfer
I haven't see such a nice 3 little sisters formation in a long time. I marked the entry and exit points with the "price labels". Entry was 1 candle before the zero break occurs. But like I said, this is where I'll ignore the rules and enter a bit earlier.

Just look at the other TCs I've highlighted - the first 3 entries (small circles) are not that far away from the war zone. Great setups. But look at the 4th setup - entry too far away from war zone.
Dispite I was out today when I came back I realized that 2nd sister coincided with my fibbo strategy, It's a pitty that pullback was not smoother (those big candles are a little scary IMHO )
E/J showed similar pattern besides.
Attached Image(s) (click to enlarge)
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  • #5,197
  • Aug 17, 2008 2:21am Aug 17, 2008 2:21am
Quoting mkain
Dispite I was out today when I came back I realized that 2nd sister coincided with my fibbo strategy, It's a pitty that pullback was not smoother (those big candles are a little scary IMHO )
E/J showed similar pattern besides.
Yes, great setup but it was just too late for me on a Friday. I wasn't looking at the charts at that stage.

Well spotted.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,198
  • Aug 17, 2008 9:03pm Aug 17, 2008 9:03pm
Here is a trade that I thought looked great. However, it did not work out that way
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  • #5,199
  • Aug 17, 2008 10:22pm Aug 17, 2008 10:22pm
Quoting Morelands
Here is a trade that I thought looked great. However, it did not work out that way

It looks like your entry was too late. There was nothing wrong with the setup - maybe just too steep pullback. One or two big bearish candles in the pullback could have been a negative signal.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,200
  • Edited 2:58am Aug 18, 2008 2:44am | Edited 2:58am
As reply for Thu in skype chat I decided post my newest chart tamplate and indicators.
It compiles both Phillip Nel's systems.
Remember add 34 ema close for yen pairs in 5 min and remove 5 ema in 1h and 4h if you want (I like 5 ema in those timeframes).
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 30 KB
Attached File(s)
File Type: mq4 MACDcoloredv102.mq4   6 KB | 644 downloads
File Type: mq4 MultiplePivotsV2.mq4   26 KB | 547 downloads
File Type: mq4 Stochastic Histogram.mq4   2 KB | 577 downloads
File Type: mq4 EMA Crossover Signal.mq4   4 KB | 565 downloads
File Type: tpl phillip nel's systems(mkain's colours).tpl   4 KB | 770 downloads
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