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The Force 5min system

  • #2,321
  • Feb 15, 2009 11:44pm Feb 15, 2009 11:44pm
Again another buy signal?
This one did cross coming out from below 20 (although it took a while to get the rest of the signals)

I just want to get some feedback to see if I'm doing this correctly

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: buysig2.gif Size: 28 KB
  • #2,322
  • Feb 16, 2009 12:14am Feb 16, 2009 12:14am
Quoting macockiner2
Again another buy signal?
This one did cross coming out from below 20 (although it took a while to get the rest of the signals)

I just want to get some feedback to see if I'm doing this correctly

Cheers

Hi.

It is going to take someone with more experience than me to help you out here. But I do know we focus on the EURUSD.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,323
  • Feb 16, 2009 12:52am Feb 16, 2009 12:52am
Hi all,

Everyone should take their time to read this article today. Some nice moves should happen starting today or tomorrow as US banks are on holiday untill Tuesday.
http://forex.gftforex.com/public/item/226232

FJ
Stacking pips since 2002
  • #2,324
  • Feb 16, 2009 12:59am Feb 16, 2009 12:59am
Thanks for the heads-up FJ. Could this be the reason for the large gap down we are seeing?

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,325
  • Feb 16, 2009 4:15pm Feb 16, 2009 4:15pm
The US bank holiday usually means to me "a good time not to trade" however not wanting to miss a G7 motivated move I kept at it. I found only a few sensible trades in the midst of a lot of congestion.

I traded Asia's bearish moves with medium targets but with London's multiple conflicting signals I switched down to defensive targets until the traffic jam had cleared out. At 13:00 gmt I switched back to medium targets as the price action appeared to be flowing a lot better.

Trading decisions were based on
1) confirmed support/resistance (doubles, trendlines, fibos)
2) force signals (basic & advanced using AudioAlerts)

As in the attached chart...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_16feb2009_theforce.gif Size: 32 KB


Lesson I learned
Wait for London to form a double bottom. Taking the very first signal after 8:00 gmt is not as useful for me as waiting for London to test and confirm previous support. With all that London Open volume it really proves the s/r levels. This worked the other way around last week, waiting for London to form a double top before the profitable bearish moves.
  • #2,326
  • Feb 16, 2009 9:18pm Feb 16, 2009 9:18pm
Rob,

Great work. You truly seem to understand the very idea and power of the "Force". Your words on the PA and market movement are perfect. Keep up the good work!

FJ


Quoting robdee
The US bank holiday usually means to me "a good time not to trade" however not wanting to miss a G7 motivated move I kept at it. I found only a few sensible trades in the midst of a lot of congestion.

I traded Asia's bearish moves with medium targets but with London's multiple conflicting signals I switched down to defensive targets until the traffic jam had cleared out. At 13:00 gmt I switched back to medium targets as the price action appeared to be flowing a lot better.

Trading decisions were based on
1)...
Stacking pips since 2002
  • #2,327
  • Feb 16, 2009 9:26pm Feb 16, 2009 9:26pm
Hi all,

The final words so far regarding the G7 meeting in Rome. Its a good read and gives you an idea of where the price will head starting ASAP.

http://www.guardian.co.uk/business/2...nancial-summit

FJ
Stacking pips since 2002
  • #2,328
  • Feb 17, 2009 2:52pm Feb 17, 2009 2:52pm
Is it just me or the chat really doesnt work anymore?


(and yes, very good system)
  • #2,329
  • Feb 17, 2009 3:38pm Feb 17, 2009 3:38pm
Quoting black_sheep
Is it just me or the chat really doesnt work anymore?
The chat is very active around London Open (8:00 gmt). Can be pretty quiet at other times.

Try www.mibbit.com/chat the channel is #the_force_5m
  • #2,330
  • Feb 17, 2009 6:09pm Feb 17, 2009 6:09pm
Quoting black_sheep
Is it just me or the chat really doesnt work anymore?


(and yes, very good system)
I struggled to get in around 7 am gmt but after than no problems. This link should take you right in http://embed.mibbit.com/?channel=%23the_force_5m
  • #2,331
  • Feb 18, 2009 5:55pm Feb 18, 2009 5:55pm
Good flowing price action today giving several good trades. Waiting for the 8:15 London Open candle to test and prove resistance was again the key to a good start. All the trades reached +20 and most went a lot further.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_18feb2009_theforce.gif Size: 26 KB
  • #2,332
  • Feb 18, 2009 10:57pm Feb 18, 2009 10:57pm
Yes Robdee, yesterday was a good day.
Got quite the same trades as you.

Review of yesterday's trade. There was 3 good short signals.

First - It happened when price rejected the confluence pivot points.
Second - Price created a double top and followed by a nice short.
Third - GMT1230 low support turn resistance, price bounce of the resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: log65.gif Size: 30 KB
Pivot Boss in the making~
  • #2,333
  • Feb 19, 2009 12:36am Feb 19, 2009 12:36am
The price is great position for a nice move in any direction today. Bull or Bear I think it will be a good day for pips. If you look at your charts you can see the price is nearing the end of a large symmetrical Triangle.
Attached Image (click to enlarge)
Click to Enlarge Name: 5minchartnewdaily.gif Size: 22 KB
Stacking pips since 2002
  • #2,334
  • Feb 19, 2009 4:36pm Feb 19, 2009 4:36pm
The bounce from yesterday's new low (1.2513) picked up more speed with the London Open volume breaking a prior resistance level at 1.2640.

I expected a retrace to to come down and retest 1.2640 from above but instead we got 2 hrs of consolidation in a range before the bulls managed to move price higher again. This is an example of the market correcting using time rather than correcting using price.

Price topped out during the NYSE Open on the weekly M2 pivot (1.2755).

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_19feb2009_theforce.gif Size: 23 KB


Lesson I learned
If there is hesitancy in the market it is possible to wait for a retrace after a valid force signal candle. I have been waiting for price to come back and touch the emas before opening a trade. This can help me put my stop loss in a better position. Waiting to enter a trade does not work if the market is reacting quickly.

If my objective was the quick momentum pips right off the signal then I would open trades immediately. However because my main interest is the 20+ profit targets I prefer waiting for 'better' entry prices. If that means I miss some trades that is OK with me.
  • #2,335
  • Feb 19, 2009 5:09pm Feb 19, 2009 5:09pm
RobDee, Your analysis and help in this thread is greatly appreciated.
It takes me 1.5 bars on the M1 chart to eat a pancake.
  • #2,336
  • Feb 20, 2009 9:38am Feb 20, 2009 9:38am
I am having trouble getting these to calculate in my charts. any advice?
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,337
  • Feb 21, 2009 1:53pm Feb 21, 2009 1:53pm
Quoting robdee

Trading decisions were based on
1) confirmed support/resistance (doubles, trendlines, fibos)
2) force signals (basic & advanced using AudioAlerts)

As in the attached chart...

Attachment
Dear @robdee;

Could you please share tpl and indicators?

Thank you
  • #2,338
  • Edited 9:45pm Feb 22, 2009 9:37pm | Edited 9:45pm
Hello All,

I am moving beyond the force basic toward advanced (pivots, s/r and trend lines) and would like to progress to expert, eventually.

My focus right now is identifying confirmed bounces/rejections, and entering well. With the following chart, the highlighted area would have been a great place to enter.

My following question to those experienced and successful with the force, with entering in the highlighted area, aside from the signal candle, and possibly a slight consolidating pattern, is there anything else specific you see that says this would be a good trade that you would notice while still in the highlighted area?

When taking this trade, what would be some things that you would take into account? What would be your thought process as you took this trade? Are you taking the trade kind of 'sure' that it will rise or are you thinking it's a possibility but 'let's set our stop loss at a safe point, just in case'? And, where would you set your stop loss?

Thanks for your insight,
FX_Discipulo
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd-022209.jpg Size: 63 KB
  • #2,339
  • Feb 23, 2009 1:09am Feb 23, 2009 1:09am
Quoting TexanTx
Could you please share tpl and indicators?
AudioAlerts and the template that shows painted candles is post 2170
http://www.forexfactory.com/showpost...postcount=2170
  • #2,340
  • Feb 23, 2009 1:44pm Feb 23, 2009 1:44pm
FX,

Thats a nice trade setup. I would have done the following which is my standard format for all trades I take. Enter trade and TP 50% at 10 pips, 30% at 20 pips and then set the stop to BE and let the rest ride. In the case of this trade I would have moved my stop uder the support at 2905 once that candle closed as shown in your chart above. Not knwing the future this is exaclty what I did for that trade which started at 1:20 gmt during the Asian session. I have taken your chart and made some changes and have posted it below to illustrate what I speak of. I hope this helps.

FJ

Quoting FX_Discipulo
Hello All,

I am moving beyond the force basic toward advanced (pivots, s/r and trend lines) and would like to progress to expert, eventually.

My focus right now is identifying confirmed bounces/rejections, and entering well. With the following chart, the highlighted area would have been a great place to enter.

My following question to those experienced and successful with the force, with entering in the highlighted area, aside from the signal candle, and possibly a slight consolidating pattern, is there anything else specific you see that...
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd-022209.jpg Size: 111 KB
Stacking pips since 2002
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