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5Min Intraday System

  • #5,301
  • Aug 26, 2008 12:51pm Aug 26, 2008 12:51pm
Quoting bshadroo
and look how my BE stoploss would be hitted if i were eager and didnt take my profit
That's exactly what happened to me. Long 1.4647 at 14:10gmt. Was looking for price to test 1.4680. Could have made +20 before it reversed and was stopped out at breakeven. --Tony
  • #5,302
  • Aug 27, 2008 3:31am Aug 27, 2008 3:31am
hi everyone,

i saw this setup forming and i was wondering whether it was a valid 3 little sister. after the swing point label 1, there was a lower high which was almost @ the same price with the label 2, and there was another lower high before the label 3 which was almost @ the same price @ label 3.

Due to the fact that i am not familiar with this kind of 3 little sister,i could not take the trade.i know that most of the time the market does not form exactly 100% of the high probability pattern that we are looking for. It just give variations of them.

i would like to know if it is a valid 3 little sister.

seyi
Attached Image (click to enlarge)
Click to Enlarge Name: 3 little sister.gif Size: 25 KB
  • #5,303
  • Aug 27, 2008 9:14am Aug 27, 2008 9:14am
Another two examples today. But slow going for both, although gbp was the cleaner setup, including a 3 little sisters pattern. I got the proper MACD settings on now compared to the last post I put up.
Attached Images
  • #5,304
  • Aug 27, 2008 9:58am Aug 27, 2008 9:58am
i initially thought that i wouldnt trade today having missed a setup in the london session. But on getting back to watch the market,i observed an ellipse pattern was forming and it also looks like the 2nd part of a 3 little sister. while closing the trade, i realised another of my favourite pattern that i called letter N formed. But couldnt trade it since entry may be far from the 10ma.

reasons for trade.
Ellipse pattern
smooth MACD TC
resistance @ 10ma
quasi power Signal candle

seyi
Attached Image (click to enlarge)
Click to Enlarge Name: trade 14.gif Size: 27 KB
  • #5,305
  • Aug 27, 2008 11:18am Aug 27, 2008 11:18am
MACD TC attracted me to take this trade.
the pullback enter into warzone and settled there with small candles.
the candles @ the warzone where smaller and found support on the 21ma
Long power signal candle.(entry was far from warzone due to slippage)


At the end, the market prove the trade setup right and i bagged some pips. Eurusd also completed the 3 little sister,hope some people got it too.

seyi
Attached Image (click to enlarge)
Click to Enlarge Name: trade 15.gif Size: 19 KB
  • #5,306
  • Edited 4:28pm Aug 27, 2008 3:09pm | Edited 4:28pm
Quoting seyionyx
hi everyone,

i saw this setup forming and i was wondering whether it was a valid 3 little sister. after the swing point label 1, there was a lower high which was almost @ the same price with the label 2, and there was another lower high before the label 3 which was almost @ the same price @ label 3.

Due to the fact that i am not familiar with this kind of 3 little sister,i could not take the trade.i know that most of the time the market does not form exactly 100% of the high probability pattern that we are looking for. It just give variations of them.

i would like to know if it is a valid 3 little sister.

seyi
I think it was the fourth sister, anyway your trade has some interesting things like divergence, powerbar and MACD signal.
Sometimes you must decide if you take the odds on.
It seems you are doing it well with this system, keep on going.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 24 KB
  • #5,307
  • Aug 27, 2008 9:10pm Aug 27, 2008 9:10pm
Here is my trade today. The 1 hour chart shows the support/trend line at 1.4748. The 21 MA on the 5 min chart also was at 1.4748. I took the TC on the 5 min and exited for 17 pips. I closed in the middle of the candle because it was time to read to my kids. I might have stayed in longer, but who knows. I'll take the 17 pips anyways
Raymond
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 82708.gif Size: 24 KB
Click to Enlarge Name: 82708-2.gif Size: 28 KB
  • #5,308
  • Edited 6:08am Aug 28, 2008 4:34am | Edited 6:08am
I showed this triangle in skype but It seemed that nobody was there or my message had some delay.
Some interesting observations in it.
[04:09:23 a.m.] mkain dice: possible triangle in e/u
[04:24:12 a.m.] mkain dice:triangle failed
[04:24:37 a.m.] mkain dice:however DB is forming
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 24 KB
  • #5,309
  • Aug 28, 2008 6:51am Aug 28, 2008 6:51am
10 pips on the ellipse and power bar
Attached Image
  • #5,310
  • Aug 29, 2008 3:17am Aug 29, 2008 3:17am
where r u willem?
  • #5,311
  • Aug 29, 2008 3:36am Aug 29, 2008 3:36am
Quoting bshadroo
where r u willem?
He is on his bike trip and will be gone for 2 wks
Raymond
  • #5,312
  • Aug 29, 2008 7:17pm Aug 29, 2008 7:17pm
I don't know if its been discussed already but does anyone use the concept of the 5min Intraday System on the hourly TF with success?
  • #5,313
  • Aug 30, 2008 9:56am Aug 30, 2008 9:56am
Quoting mkain
I think it was the fourth sister, anyway your trade has some interesting things like divergence, powerbar and MACD signal.
Sometimes you must decide if you take the odds on.
It seems you are doing it well with this system, keep on going.
Hi Mkain:

From the image I can see you are using an indicator on the chart that I Have been looking for a long time. It is drawing latest high and low... Can you share that custom indicator.... which one is it?

Thanks in advance.
  • #5,314
  • Aug 30, 2008 10:16am Aug 30, 2008 10:16am
Quoting ShawnS
I don't know if its been discussed already but does anyone use the concept of the 5min Intraday System on the hourly TF with success?
I wanna know too....5M TF is just too fast for me..
  • #5,315
  • Aug 30, 2008 11:03am Aug 30, 2008 11:03am
Quoting seyionyx
hi everyone,

i saw this setup forming and i was wondering whether it was a valid 3 little sister. after the swing point label 1, there was a lower high which was almost @ the same price with the label 2, and there was another lower high before the label 3 which was almost @ the same price @ label 3.

Due to the fact that i am not familiar with this kind of 3 little sister,i could not take the trade.i know that most of the time the market does not form exactly 100% of the high probability pattern that we are looking for. It just give variations of them.

i would like to know if it is a valid 3 little sister.

seyi
Hi Sey

Perfect 3 little sisters - just a pitty the two tailswent through the 50MA but that is not serious
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,316
  • Aug 30, 2008 11:05am Aug 30, 2008 11:05am
Quoting seyionyx
MACD TC attracted me to take this trade.
the pullback enter into warzone and settled there with small candles.
the candles @ the warzone where smaller and found support on the 21ma
Long power signal candle.(entry was far from warzone due to slippage)


At the end, the market prove the trade setup right and i bagged some pips. Eurusd also completed the 3 little sister,hope some people got it too.

seyi
That was a great trade!!!! Well done.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,317
  • Aug 30, 2008 11:11am Aug 30, 2008 11:11am
Quoting bshadroo
where r u willem?
Hi Bs

Sitting in a hotel lobby in Vienna after 400km of bicycle cycling last week. Another 300km+ to go next week to Budapest. Not to bad for a 45+year old who don't do cyclying. O, I miss my golf!!

This is my fist Internet connection for a week and working quickly through the thread.

Enjoy the trading
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,318
  • Aug 30, 2008 11:13am Aug 30, 2008 11:13am
Hi Golfer,

Sounds very exciting....and strenuous. Have a super week and keep
healthy....

trademeister
  • #5,319
  • Edited 4:14pm Aug 30, 2008 1:16pm | Edited 4:14pm
Quoting gutieme
Hi Mkain:

From the image I can see you are using an indicator on the chart that I Have been looking for a long time. It is drawing latest high and low... Can you share that custom indicator.... which one is it?

Thanks in advance.
First of all special thanks to Onthespot for sharing it with me (it is quite cool )
Here you are:
P.S:Have nice pips compatriot
Attached File(s)
File Type: mq4 Support and Resistance (Barry) H.mq4   2 KB | 630 downloads
  • #5,320
  • Aug 30, 2008 2:04pm Aug 30, 2008 2:04pm
Quoting ShawnS
I don't know if its been discussed already but does anyone use the concept of the 5min Intraday System on the hourly TF with success?
Hi Shawn

No, I've not yet tried this system on a longer timeframe. I cannot give you an answer on it but I like the 5min time frame. I know for some traders find trading the short time frames are just to stressful.

Therefor, give it a try.
Willem Forex recipe for success = Patience, discipline & hard work.
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