5Min Intraday System

Feeling about 20 degree

10pips loss
i knew because of breaking the TL to downside ,if i wanted to wait for TC it would be 10-15 pips lower so decide to enter after the closing of the last candle and result was -10pips
edit:look what happend next , but i still love u MARKET

I did the same trade and lost 10 pips. As it turns out, doing the trade which is usually the inverse: USD/CHF would have missed the stop and been profitable.

the eurchf cross usually can helps us to decide wich one is better to enter ,eu or uc.but even if i'v entered usdchf i'd be out maximum at BE

I'm new here but I really want to learn, I want to ask everybody if it is a signal I should take or ignore, how about you in this situation?

Hi Gold

Yes, that was a nice triangle breakout. That support line indicated higher lows and then the breakout.

There was also a nice zero line bounce signal with a nice power candle 6 candles earlier - that bearish candle with almost no tails. That was the first signal of a zero line bounch on the MACD.

Great one!!

Wow, what was a nice setup calling you to take it. I am sure you didn't look for it. The setup called you to take it!!!

Great one!!!

Great 3rd sister - just where you want her to be; just below the 50MA. Perfect!

I am playing in a golf tournament away from home for this two days - just got into the hotel room and had a quick look at the markets when I saw this breakout (break through S1 line which acted as resistance and the 50MA acted as support) on the EY. Entry was at 154.53 (13H57gmt) and exit was 3min later at 154.73 for 20pips profit. The market turned at 155.16.

Sorry about the quality of the chart but I only have my small Asus Eee900 computer with me. Very nice for traveling and doing some trading in the mean while.

My opinion:

1. It is all about market rhythm - I look for the wave-like movements, swing low and highs, and a candle formation. Phillip taught me a lot about it. His mp3 files are very valuable - even the ones posted on the 4h MACD system thread. I do use the information even for this 5min system as well.

2. The 20 degree is only giving you an indication that a possible "strong move" is about the start. The 21MA on the SMAangle is used for this purpose. See page 1 for the links. I am very careful if the 21MA on the SMAangle is not in position.

3. Then (and this is what I like most of my style of trading) I look for certain price pattern on my chart to confirm the high probability setup.

I hope it helps.

Just an example of how I use my price patterns - this Bullish 3 pattern was cancelled becaue there wasn't a significant breakout to the upside after 3-4 candles after the big bullish candle was formed. The resistance was just too strong.

I was very positive that a Bullish 3 pattern will appear and I was prepared to re-enter a long trade. But then there was too many candles after the big bullish candle and I decided to ignore the setup. Great decision at the end based price patterns (this time the price pattern was not formed -not a high probability setup). If you lookat the second chart.

3 little sisters, zero break on MACD the trigger for the short.

first lot closed +13pips ,second running with 25 trailing stop
edit:SL hitted at 1.4417 ,46pips

Just to show you people the difference between two traders taking the same setup with different outcomes:

I had two entries (1.4381 and 1.4389) and close both trades (full close) at 1.4415. I made 34pips with my 1st trade and 26pips with my 2nd trade = 60pips profit for that setup.

Here Bs and myself took the same setup, with different entries, different approach and different outcomes. That is why one CANNOT say that if trader A is successful with this system, trader B will have the same result and will be as successful as trader A.

You need to get your hands dirty and see for yourself what you can do with this system. Just because it is working for me, doesn't mean it will work for you.

Thanks Bs, for your charts. It is nice to be able to compare ones trades of somebody else's trades and see how they think/see/analise about setups.

An example where I used a price pattern to ignore a possible trade.

that was a conversation between me and willem on the skype saying the fisrt or second setup in M1 chart after a fast M5 moving are usually profitable.and here is the M1 chart after my todays eu entry .the 2 first setups was profitable with applying same M5 rules

The Skype chat about the EUR chart posted - kept Bs out of a possible bad trade:

[05:15:25 PM] bshadroo says: what u think about eu now?
[05:15:37 PM] bshadroo says: it going to give us a TC
[05:16:03 PM] Willem Kruger says: Still watching for a possible zero bounce
[05:16:20 PM] bshadroo says: do u think it is still good?
[05:16:49 PM] Willem Kruger says: Within 2-3 candles yes, after that I'll ignore the setup
[05:17:04 PM] Willem Kruger says: then the Church buidling is too "long"
[05:17:39 PM] Willem Kruger says: Just the cable setup and why I ignore the next setup on ff
[05:17:49 PM] Willem Kruger says: post*
[05:18:24 PM] bshadroo says: church should be 4 -5 candles?
[05:18:32 PM] Willem Kruger says: Yes
[05:19:02 PM] Willem Kruger says: EUR - this one is already 6 candles

[05:20:33 PM] Willem Kruger says: We do have higher lows but no TC on my chart yet

[05:21:25 PM] Willem Kruger says: Yes but there is a smooth rounding being formed on the chart itself

[05:21:54 PM] Willem Kruger says: Could have 10pips profit in it
[05:22:22 PM] bshadroo says: with an entry around 30
[05:22:34 PM] bshadroo says: or above 45
[05:23:13 PM] Willem Kruger says: Around 35 is also OK, I think
[05:23:36 PM] bshadroo says: i wish it happended 4 5 candles before
[05:23:44 PM] Willem Kruger says: Agree
[05:24:04 PM] bshadroo says: breaking the lows
[05:24:39 PM] Willem Kruger says: Yes, once again, Church building was getting too long
[05:24:46 PM] bshadroo says: yes

My comments copied and edited from a Skype chat (I've put the other member's comments/questions in blue):

[05:32:20 PM] says: and do u look at the M1 chart also ?

[05:33:11 PM] Willem Kruger says: No, only during NFP news. Also got burned too many times trying to trade the M1 when the 5min is too fast.

[05:33:38 PM] Willem Kruger says: I tend to enter too late when using the M1 charts

[05:34:20 PM] Willem Kruger says: That is why I told myself - there are enough great setup on the 5min chart to take

[05:34:50 PM] Willem Kruger says: Why risk a trade on the M1 if I don't feel comfortable with it?


[05:35:54 PM] says: but when M5 is too fast the very first TC in M1 chart is usually profitable

[05:35:56 PM] Willem Kruger says: If a person feels comfortable with the M1 chart and if it is working for him/her, by all means, go for it!

[05:36:20 PM] Willem Kruger says: But then it should be in your rules

[05:36:57 PM] says: no,the same M5 rules ,(MAs ,TC signals,..)
[05:37:29 PM] Willem Kruger says: And you should ignore the 3rd or 4th setup on the M1 chart. That is my problem. I tend to take the 3rd or 4th setup and then the price turns around to hit my SL

[05:40:12 PM] Willem Kruger says: I agree - same rules as for the 5min. But this will test your discipline to the limits

[05:42:13 PM] Willem Kruger says: The markets are moving very fast and you need to make quick decision. And when there were 2-3setups, you should be very disciplined to ignore them

[05:43:09 PM] Willem Kruger says: Entry too late in the move and you are in trouble

Soory, but another example of a triangle breakout. An example of how to look for triangles and how to trade them.

The price patterns are there to assist you in identifying high probability setups in line with market rhythm.

Another setup I won't take because of a price pattern warning me! Believe me, it is not always this easy.

Enough of me right now, back to serious trading tomorrow.