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The Force 5min system

  • #1,681
  • Dec 8, 2008 6:45pm Dec 8, 2008 6:45pm
Quoting jackfx
If you train your eye you will one day see what I wasn't be able to see it before. With all help FJ you can not ask for better place to trade!
Jack
Hi Jack, so awesome to read about your progress. Sounds to me like you're right on the track Jedi teaches. Thanks for sharing. regards, robdee
  • #1,682
  • Dec 8, 2008 7:09pm Dec 8, 2008 7:09pm
can someone answer my last two questions please?
  • #1,683
  • Dec 8, 2008 7:36pm Dec 8, 2008 7:36pm
Big,

When the stochs cross before the MA's we simply wait for the MA's to cross and the MACD to also show its signal. Although the best signals under the advanced rules come when everything crosses at almost the same time. If everything crosses but the Stochs are in ovesold/ovebought areas then its sually best not to take the trade as you may loose pips. Please feel free to join me in the chat between 12am and 7am est so I can give you some live lessons on how this is done if you feel the need to do so. Once you have a visual its a lot easier to understand. Please keep in mind that the end goal of the indicators is to train your eyes to trade without the indicators. Every indicator signal will appear on your charts as some sort of bounce of a TL.

FJ


Quoting big_pipin
in a strong market, what do you do when the stochs cross before the ma's?
Stacking pips since 2002
  • #1,684
  • Edited 8:36pm Dec 8, 2008 8:22pm | Edited 8:36pm
Another big bull day for the euro this Monday cranking out 255 pips in the range.

London Close at 17:00 gmt was a typical retrace setup but only 40 pips were available before bulls took over again at 1:30pm ET.

A double top prior to the London Close short signal provided evidence of resistance. A double bottom prior to the long signal provided evidence of support.

http://i33.tinypic.com/2ypnded.gif

What we ended up with at NY close was a 'rising wedge' or 'diagonal triangle' which is a termination pattern of the bull rally. The steep selloff following the NY close confirms this.

Rising wedge patterns are usually very difficult to trade with a narrowing range breaking higher giving all kinds of conflicting messages. I tend to wonder what the heck is going on until the big reversal at the end of the pattern and then I realise what it was. Ohh... now I see it!

Lessons I learned...

1. Keep eyes open for doubles (even the little three candle doubles) they are good evidence of S/R.

2. Keep mind open to possibility of big reversal patterns especially after a big two day rally. Big reversal patterns take hours to play out not minutes.

3. It is possible to trade against the trend, but need to be more defensive. This means taking all my remaining profit as soon as evidence of support appears. example double bottom at 1:30pm ET

4. It is possible to trade the guts (best parts) out of a rising wedge pattern using 'The Force'. Truly amazing!
  • #1,685
  • Dec 8, 2008 9:03pm Dec 8, 2008 9:03pm
Rob,

Fantastic review as always. Thank you for posting this daily as im sure your efforts are appreciated by many.

FJ

Quoting robdee
Another big bull day for the euro this Monday cranking out 255 pips in the range.

London Close at 17:00 gmt was a typical retrace setup but only 40 pips were available before bulls took over again at 1:30pm ET.

A double top prior to the London Close short signal provided evidence of resistance. A double bottom prior to the long signal provided evidence of support.

http://i33.tinypic.com/2ypnded.gif

What we ended up with at NY close was a 'rising wedge' or 'diagonal triangle' which is a [b]termination...
Stacking pips since 2002
  • #1,686
  • Dec 8, 2008 11:01pm Dec 8, 2008 11:01pm
how does this look?
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A woman drove me to drink, and I forgot to thank her
  • #1,687
  • Dec 8, 2008 11:39pm Dec 8, 2008 11:39pm
Drawing the new long term TLs I realised we now have an almost complete symmetrical triangle continuation pattern. This is a long term view so could take quite a while to see a breakout...

http://i35.tinypic.com/2d1tu7c.gif
  • #1,688
  • Dec 8, 2008 11:51pm Dec 8, 2008 11:51pm
My Starting TLs for the day. I suspect a bull market. Lets see what happens.
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Stacking pips since 2002
  • #1,689
  • Dec 9, 2008 12:25am Dec 9, 2008 12:25am
Quoting robdee
Drawing the new long term TLs I realised we now have an almost complete symmetrical triangle continuation pattern. This is a long term view so could take quite a while to see a breakout...

http://i35.tinypic.com/2d1tu7c.gif
Thanks Robdee love your stuff here. Please keep 'em coming.

D and E provided perfect trades in terms of the advanced system as opposed to many of your examples which are shorter term original system trades. Of course if you can get into a trade from D and E and catch the break out then that gets really interesting!!

Thanks again jedi.
Cheers
  • #1,690
  • Dec 9, 2008 1:19am Dec 9, 2008 1:19am
hello

Have i drawn trend lines correctly?

Thanks,
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  • #1,691
  • Dec 9, 2008 1:22am Dec 9, 2008 1:22am
For the moment 1.2856 holding, lets see what happens.
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  • #1,692
  • Dec 9, 2008 1:46am Dec 9, 2008 1:46am
V,

Fantastic to see you here. Lets make some pips. Also than you for the info posted above im sure many people will appreciate the quick lesson.

FJ


Quoting Vantage
For the moment 1.2856 holding, lets see what happens.
Stacking pips since 2002
  • #1,693
  • Dec 9, 2008 4:23am Dec 9, 2008 4:23am
Greetings!I am glad to join to a branch, a week I trade on system and in small +. While in not the market, I sit on a fence))) I Read a forum through the dictionary and I write, there can be discrepancies in transfer, litter.
  • #1,694
  • Dec 9, 2008 6:01am Dec 9, 2008 6:01am
Quoting Vantage
Thanks Robdee love your stuff here. Please keep 'em coming.

D and E provided perfect trades in terms of the advanced system as opposed to many of your examples which are shorter term original system trades. Of course if you can get into a trade from D and E and catch the break out then that gets really interesting!!

Thanks again jedi.
Cheers

Thanks for the great long term view here V.
  • #1,695
  • Dec 9, 2008 7:43am Dec 9, 2008 7:43am
Hi there,

Please help me with some coments on this situation. I noticed the long red bar and i tghout that it`s a valid signal... all indicators lined up, it was also a bounce from WR1... The only thing that was bothering me was that it was to long and i stayed out.

My question? Is this a valid signal on the advanced rules ?

Best of pips to all

Necre
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  • #1,696
  • Dec 9, 2008 9:56pm Dec 9, 2008 9:56pm
It was probably false signal, it was followed by a signal and divergence
  • #1,697
  • Dec 9, 2008 10:13pm Dec 9, 2008 10:13pm
After the bulls had their fun with a 200 pip rally to 1.3000 it was quite likely a retrace would give some pippage sometime after the London Close. That is what happened.

Two candles after 3000 (day high + psych level) was reached we had an obvious sell signal giving an entry of 2979. This proceeded down more steeply than expected for a quick +50 run.

Nine candles then consolidated above 2915. I observed that the consolidation period was complete when a bearish 'outside bar' showed the start of the next leg down. This second leg down offered only +30 before bulls kicked in again at 2890 area.

I could not see enough evidence of support to enter the long and it was a long slow climb of +25 to the NY close. US stocks closed on their session lows.

http://i35.tinypic.com/15rmoft.gif

Lesson I learned...

Outside bars are a useful way to show the end of a period of consolidation or the end of a corrective wave.

Outside Bars
bearish = close below low of previous candle
bullish = close above high of previous candle
  • #1,698
  • Dec 9, 2008 11:50pm Dec 9, 2008 11:50pm
Robdee,
The session recaps you post and especially the summary are just great. If you had it in a news letter I definitely would have register too.
keep doing your good work.
Regards,
Dani M.

Lesson I learned...

Outside bars are a useful way to show the end of a period of consolidation or the end of a corrective wave.

Outside Bars
bearish = close below low of previous candle
bullish = close above high of previous candle[/quote]
  • #1,699
  • Dec 10, 2008 2:44am Dec 10, 2008 2:44am
Heres is a good idea of the TLs at the moment Medhi.
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Stacking pips since 2002
  • #1,700
  • Dec 10, 2008 2:46am Dec 10, 2008 2:46am
Quoting robdee
After the bulls had their fun with a 200 pip rally to 1.3000 it was quite likely a retrace would give some pippage sometime after the London Close. That is what happened.

Two candles after 3000 (day high + psych level) was reached we had an obvious sell signal giving an entry of 2979. This proceeded down more steeply than expected for a quick +50 run.

Nine candles then consolidated above 2915. I observed that the consolidation period was complete when a bearish 'outside bar' showed the start of the next leg down. This second...

Great summary Robdee. Many thanks. Lots of insight and useful to see how you look a the market. Outside bars ar not guaranteed though so FJ any advice of how to use discretion?

Thanks,
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