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Forex intraday using the 5min chart: EURUSD 108 replies

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5Min Intraday System

  • #6,081
  • Dec 23, 2008 4:28am Dec 23, 2008 4:28am
12 pips on the pin bar and rollover of the MACD
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  • #6,082
  • Dec 23, 2008 10:15am Dec 23, 2008 10:15am
quick 18pips on M1 chart
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  • #6,083
  • Dec 24, 2008 1:26am Dec 24, 2008 1:26am
Quoting bshadroo
quick 18pips on M1 chart
Nice use of the 1min chart - see my comments on the chart.

I would have taken the breakout of the small pennant (within the war zone)as well even though there wasn't a TC formed.

I do see the pennant formation as "emosions building up" to use the words of Phillip and something is going to happen.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,084
  • Dec 24, 2008 6:01am Dec 24, 2008 6:01am
Quoting Golfer
Nice use of the 1min chart - see my comments on the chart.

I would have taken the breakout of the small pennant (within the war zone)as well even though there wasn't a TC formed.

I do see the pennant formation as "emosions building up" to use the words of Phillip and something is going to happen.
hi
previous TC didnt work because that TL has not been broken yet,i saw phillip sells the TC signals in H4 before TL broken(use the TC signal as a TL breaking sign) but i think in M5 we should wait for a breakout first .
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  • #6,085
  • Dec 24, 2008 6:03am Dec 24, 2008 6:03am
Info
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,086
  • Dec 24, 2008 6:08am Dec 24, 2008 6:08am
Quoting bshadroo
hi
previous TC didnt work because that TL has not been broken yet,i saw phillip sells the TC signals in H4 before TL broken(use the TC signal as a TL breaking sign) but i think in M5 we should wait for a breakout first .
I agree but sometimes I do take the risk on but it is not recommended.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,087
  • Dec 29, 2008 2:04am Dec 29, 2008 2:04am
TC
edit:second half SL hitted with 39pips profit
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  • #6,088
  • Dec 29, 2008 2:11am Dec 29, 2008 2:11am
Once again last week's goal was achieved (even with the holidays). Total of 50pips profit. I was very conservative and closed my trades very early

Total trades: 10
Positive trades: 9
Negative trades: 1
BE trades: 0
%pos trades: 88.9%
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,089
  • Dec 29, 2008 4:39am Dec 29, 2008 4:39am
I got up late and missed the other e/u trades. But this one I caught for 10 pips.
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  • #6,090
  • Dec 29, 2008 5:03am Dec 29, 2008 5:03am
15 pips on the triangle breakout. Took the profit just before the pivot line.
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  • #6,091
  • Dec 29, 2008 6:52am Dec 29, 2008 6:52am
12 pips on the pullback of the triangle break out
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  • #6,092
  • Dec 29, 2008 11:17am Dec 29, 2008 11:17am
18 pips
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  • #6,093
  • Dec 30, 2008 6:53am Dec 30, 2008 6:53am
12 pips on the rollover
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  • #6,094
  • Dec 30, 2008 7:51am Dec 30, 2008 7:51am
We tend to post only "after" charts. How about this one? What it looks like when a triangle is being formed.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,095
  • Dec 30, 2008 8:01am Dec 30, 2008 8:01am
I saw it is just the three of us posting something here, thanks for supporting Phillip and his system. So, how about something interesting?

Nice Elliott waves today on Cable. Even 'n nice small 5 wave pattern within wave 3. The reason why I didn't consider going short on the last pullback - wave C should still be formed and I was waiting for it.

Otherwise just ignore this post - just interesting for me, not part of this system but it is getting quiet here on the thread. Don't qoute me on this one. Still studying the concepts.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,096
  • Dec 30, 2008 8:38am Dec 30, 2008 8:38am
Quoting Golfer
We tend to post only "after" charts. How about this one? What it looks like when a triangle is being formed.
well,i like this setup more ,i like the price pullback to the support line and going away from it .although 21 in smaangle was below 1 but i'd have take this setup if i was online.
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  • #6,097
  • Dec 30, 2008 10:38am Dec 30, 2008 10:38am
Just a little thanks to Mr Nel, and all the students and contributors of this thread, as well as the 4 hour one. I am new to forex trading, and I am realizing that the holy grail of forex trading is a step by step approach - checking all along that each step is on firm ground, nailing down secure trading habits, and becoming successful in the long term.
Cheers
Divyendu
  • #6,098
  • Dec 30, 2008 11:12am Dec 30, 2008 11:12am
there was a tail to my SL ,it was very exact ,if it was only 1 pip lower ....
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  • #6,099
  • Dec 30, 2008 11:23am Dec 30, 2008 11:23am
Interesting development during the holiday period on EUR - something to think about. Once again (feels so boring lately), these are the signals I am looking for. Looking at the bigger picture - like Bs is also looking at the longer time frames. Very important.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,100
  • Dec 30, 2008 11:48am Dec 30, 2008 11:48am
Quoting bshadroo
there was a tail to my SL ,it was very exact ,if it was only 1 pip lower ....
Bs, too bad about the SL. I liked the lower highs just before your entry. Those nasty tails especially when one's entry is a bit in no-man's land (little bit away from war zone). That is why I'll enter on a triangle breakout if it is in/very close to the war zone and I won't wait for the TC to form. BUT it will all depend on the market rhythm - interesting to hear myself saying this statement over and over (lately).

It was suggested to put one's SL just above the 21MA (short trades) and below the 21MA (long trades). Especially in these volatile market conditions.
Willem Forex recipe for success = Patience, discipline & hard work.
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