5Min Intraday System

Example of SIDMOVs and risky setups. Just look how the price is crossing the MAs. Today was a day of market consolidation for the EY. So I'll ignore this pair for the day.

There maybe 10pips in some of the setup if you want to take the risk.

[10:16:32 PM] Willem Kruger says: Mistake: Entry was too early, I didn't like the price going through the 21. Negative signal for me. Then I'll wait to see what is going to happen. I indicated where you could have entered - confirmation with a zero break TC on MACD

Today EURO was moving in nice channels, not always like this. Then you can see the change of direction.

willem :its one of your channels

Skype chat:

[10:13:26 PM] Willem Kruger says: David, see if you can see the small triangle being formed on the last 4 candles on EY now.

[10:33:16 PM] Willem Kruger says: Chart of EY with small triangle posted - that is the type of signals I am looking for in a movement. Just an example because this is a SIDMOV and nothing is going to happen

I was trying to explain to David the art of timing your entry. VERY IMPORTANT - all about price actions confirmed by the indicators. I don't trade the indicators anymore. Use the indicators as confirmation.

You took the same setup for a nice profit.

i was worry about the activities above 21 but the tails to pivot line near 1.2925 was encouraging me for an entry specially after the channel breaked down ,gennerally i think it was a good trade and david: i think u should have wait for channel breakout and then enter .
what do u think willem ?is that a good trade ? and why u didnt enter?
thx

Yes, Nice pinbar trade and I wasn't in front of PC today - so no trades for me today.

thx willem , and look at the below chart ?have u ever enter the trade if smaangle is not ok ?

Hey everyone, just stopping by. The 4hr thread traffic has really slowed down since our buddy was 'let go'. There's only a handful of us still around there. The only major pair that has decent rhythm right now is the cable. I don't trade that pair much because of the spread with FXDD now. With ODL it was 2 pips along with the other three majors but since ODL bugged out of the US I'm mainly trading the EURUSD now.

But, while the rhythm of the 4hr EURUSD is pretty crappy, there are several s/r areas that have been holding up well. That being the case, I've been using those areas while trading the 5min method here and it has been working out extremelt well. The only thing is to remember that I'm using the 4hr as a guide while trading on the 5min. I do keep the 5min perspective in mind by taking out maybe 70% of the position and letting the other 30% ride for a little longer per what the 4hr is doing. Stops are a little wider by keeping the 4hr in mind too but nothing that is out of hand. This has brought in about 300 pips since last week while the 4hr has been ranging like it has. Now, when the 4hr rhythm is strong the 5min is just as useful too. If you can link these two methods together, and as long as you can interpret the 4hr charts, it's a good thing here.

I miss the old days and everyone that was around. There seems to be more of the old hats here vs. the 4hr thread and I'm hoping it's because the EURUSD is coiling up like a snake lately and there isn't much textbook 4hr motion happening there. I fear that the 4hr thread will only be showing up on the second or eventually third page here at the FF at some point. Either way, hope everyone is doing well and if you have the time try to use the 4hr and its turning points as a guide for the 5min entries. I'll put a pdf together at some point and post it here later....

Cheers

?Yes because it is the 3 big brother formation just above the 50MA. But then will be classified as a CT trade.

See my comments in green.

Hi david 4u,

Have you read through the thread yet.
I still only at 270pg. Not really can absorb all.
But good to read and learn and applied what you know by waiting..

I did saw your chart. I did not enter the trade on that one.

a) That is a very steep pullback
b) I dont like those tall and spiky candle. Very volatile.

So no trade for me on that one.

Try trading those really good setup. I only trade those i know.
The one phillip initial pullback and the golfer ascending and descending triangle(still learning).

jin

Hi Palmer
It will be og great help , if u can show as the charts of your trades.
Thank you
David

palmer:nice to see u here again ,i missed ur M5 trades and let us know about them .and about H4thread ,yes,its only few guys writing there and also they add some indicators wich are not related to system ,big stoplosses ,phillip's absence and range market makes that i think ,fortunetly inthis thread ,willem acts like a leader/teacher and prevents people(like me) posting unrelated trades and keeps thread alive
willem :th for the answer

.

next

Aggressive example of the 4hr chart with the 5min in mind. I mentioned this yesterday so here's how it worked today. This is a very aggressive entry but a chart is a chart..

The trendlines have been holding up very well on the 4hr chart so when the 5min was approaching another one of those ares and stalled, I took advantage of what happens in the past can happen again. I've already taken off half of the position and will see how this rides looking for the more 'text book' entries on the 5min as things progress...

good , i was also thinking about a buy

That's pretty much it bsh...5min might be setting up..

Hi Palmer
may be u can explain why did u take the Long trade ...
It was actually a CT .
That's due to the hammer , macd , etc
Why u did not take the short after the channel was broken ?
I that part of the 5 Min strategy ?
Thanks
David

David:

I should back up a little bit here concerning the 4hr charts. The 4hr thread is probably where about 95% of all my posts on the FF have been, so that's 'home' for me more or less. I use the 4hr as a footprint regarding every trade be it the 4hr, 1hr or 5min. The EU has been in a very tight range since about the end of January. The more price stays within this range, the more predictable price becomes when one of the s/r areas are approached. And on the other hand, the longer price stays within this range the more violent the breakout can become. After almost 2 years of 'living' with the 4hr charts it a lot easier to see the bigger picture of things when looking at a smaller timeframe.

The majority of people would agree that looking at a longer timeframe can help when trading a smaller timeframe to get the overall trend picture. There can be A LOT of movement in each 4hr candle on a 5min chart and a lot can happen within that one 4hr candle but if you have a handle on the longer timeframe this can really help when trading the shorter timeframe.

But, I am giving the 5min a little more room to breathe becuase I am using the 4hr to zero in on the 5min. In other words I am trading the 5min (when I can) but using the 4hr to dermine where my stop and profit might be. I do take some off the 5min and let the rest run per the 4hr just becuase I don't like giving anything back. Pips in the bank are pips in the bank. I'm not trading the 5min specifically just as a 5min trading window, I'm keepin the 4hr in mind.

***

Take a look at the 4hr chart in the above post and the bottom of the downtrend channel where price touched. There's a double bottom there along with the downtrend channel that was acting as support as well. Price stalls on the 5min so I'm thinking, "Price is hitting support again on the 4hr, it's going to turn here, wait for some strength and pull the trigger."

Here's the 4hr now:

I have an updating downtrend line drawn on the 4hr ( fat gold line ) and I'm long now again per the 5min strength from 2834 after exiting the previous long from that post. I'm on a differnet PC now and the trendlines have a different color. On the 4hr price is now approaching this resistance line so I'll keep and eye on the 1hr and 4hr right now. I this line is broken on the 1hr, then there is a chance that this 'might' happen on the 4hr as well and I'll adjust the stop accordingly on the 4hr and 1hr.

It's all a matter of reading the longer term charts and knowing where those s/r areas are, expecially if they are getting revisited time after time. You may have to enter on the 5min not totally by the book on the 5min because it can take time for things to line up by the book even on that shorter timeframe. But, if things are in the process of lining up there (showing strength) and price is at one of the s/r areas again, then there's a good chance that the past will repeat itself...