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Forex intraday using the 5min chart: EURUSD 108 replies

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5Min Intraday System

  • #6,481
  • Mar 10, 2009 3:48pm Mar 10, 2009 3:48pm
Quoting Golfer
Great one - I hope you've seen the 3 little sisters on the previous pullback (21 not yet out of non-trade zone) which was also a nice smooth rounding.
In first moment I sow resistance in war zone - after entry - 3 little sisters pattern which confirmed me in good chose. Market was fast and I didn't have time to deep analysis (in my opinion)Unfortunately many time I had this same situation on wrong trade.
I hope more experience give me skill to see faster and easier important signals
  • #6,482
  • Mar 10, 2009 10:16pm Mar 10, 2009 10:16pm
i just finished downloading & installing the custom MACD from earlier posts. there is this number on the right hand side that constantly changes. could someone help me understand what it's indicating? i searched thru the thread & couldn't find an explanation. if i completely blew past & you want to direct me there, please do.

thank you so much for your help.
"Believe nothing you hear and half of what you see." Proverb
  • #6,483
  • Mar 10, 2009 11:50pm Mar 10, 2009 11:50pm
Quoting fxgrinder
i just finished downloading & installing the custom MACD from earlier posts. there is this number on the right hand side that constantly changes. could someone help me understand what it's indicating? i searched thru the thread & couldn't find an explanation. if i completely blew past & you want to direct me there, please do.

thank you so much for your help.
Hi Fxg

If you are talking about the small black number on the MACD that is changing - it is number of pips needed for the MACD to change from red to green and visa versa. I do use it to how far the price must for example goes down before the TC is formed.

I did explain it somewhere on the thread but I cannot remember where.

I hope it helps.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,484
  • Mar 10, 2009 11:55pm Mar 10, 2009 11:55pm
Quoting Golfer
Hi Fxg

If you are talking about the small black number on the MACD that is changing - it is number of pips needed for the MACD to change from red to green and visa versa. I do use it to how far the price must for example goes dowm before the TC is formed.

I did explain it somewhere on the thread but I cannot remember where.

I hope it helps.
you're an early riser ... this helps to explain it definitely ... does it factor into your decision making in any way when trading these days?

best regards ...

[EDIT] ... i was studying those power bars ... can those be treated as power bars if they are flipped either sideways or upside down? if that doesn't make sense i'll try to find some examples.
"Believe nothing you hear and half of what you see." Proverb
  • #6,485
  • Mar 11, 2009 6:28am Mar 11, 2009 6:28am
Nice TC on GU

Same thing with EU and EJ, too bad I'm too focus to GU so not able to take others

Hope someone take it ...
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  • #6,486
  • Mar 11, 2009 9:34am Mar 11, 2009 9:34am
Quoting fxgrinder
you're an early riser ... this helps to explain it definitely ... does it factor into your decision making in any way when trading these days?

best regards ...

[EDIT] ... i was studying those power bars ... can those be treated as power bars if they are flipped either sideways or upside down? if that doesn't make sense i'll try to find some examples.

Hi Fxg

Yes, I still use the number especially when the TC is about to be formed and the next support or resistance levels are very close. Then you would be able to see that the tC will only be formed on the support or resistance levels. Then you don't wait for the TC to be formed but rather take 10pips profit right away.

I am not sure about your second question - would you please post a few charts to illustrate.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,487
  • Mar 11, 2009 11:10am Mar 11, 2009 11:10am
Quoting Golfer
Hi Fxg

Yes, I still use the number especially when the TC is about to be formed and the next support or resistance levels are very close. Then you would be able to see that the tC will only be formed on the support or resistance levels. Then you don't wait for the TC to be formed but rather take 10pips profit right away.

I am not sure about your second question - would you please post a few charts to illustrate.
i just plucked this one from the charts for example's sake regardless of whether the set-up was tradeable or not. my question specifically pertained to power bars 1 & 4 only. this one that i found is the flip of power bar 1.

thanks.
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"Believe nothing you hear and half of what you see." Proverb
  • #6,488
  • Mar 11, 2009 2:22pm Mar 11, 2009 2:22pm
Quoting fxgrinder
i just plucked this one from the charts for example's sake regardless of whether the set-up was tradeable or not. my question specifically pertained to power bars 1 & 4 only. this one that i found is the flip of power bar 1.

thanks.
Hi Fxg

No, sorry I haven't try "power bars" like these. I'll stay with the power bars suggested by Phillip which I do feel comfortable with it.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,489
  • Mar 11, 2009 2:22pm Mar 11, 2009 2:22pm
possible trade for the day
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  • #6,490
  • Mar 12, 2009 3:10am Mar 12, 2009 3:10am
10pips half ,other half :BE
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  • #6,491
  • Mar 12, 2009 2:29pm Mar 12, 2009 2:29pm
SL/TP - 12/15
I didn't wait for TC - it was lack only 2 pips
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  • #6,492
  • Mar 12, 2009 2:30pm Mar 12, 2009 2:30pm
My 6pips profit - hope somebody caught the rest. Just too late in the day for my liking.

A case where closing half after 10pips and the rest run pays off. Just remember it doesn't happen that often per pair. But if it is your style, go for it. Maybe I'll try again at a later stage.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,493
  • Mar 12, 2009 2:53pm Mar 12, 2009 2:53pm
So Nel... how old is this system? I have seen it for sale with a few changes... is a really old system?

Soeasy69
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  • #6,494
  • Mar 12, 2009 4:07pm Mar 12, 2009 4:07pm
Quoting Golfer
My 6pips profit - hope somebody caught the rest. Just too late in the day for my liking.

A case where closing half after 10pips and the rest run pays off. Just remember it doesn't happen that often per pair. But if it is your style, go for it. Maybe I'll try again at a later stage.
i was not online but even if i was online i dont think i'd take this TC because of late time and TL break,but the strange thing to me is sometimes the stups wich doesnt look good goes very well like this one
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  • #6,495
  • Mar 12, 2009 9:45pm Mar 12, 2009 9:45pm
1. went long after bullish engulfing bar TP=15p. reason...price was making higher highs and higher lows respecting 10EMA (is that bullish engulfing a valid "power bar"???)

2. I didnt enter at the pinbar, I saw a series of higher lows but we were to close to round number 1.2800 and chickend out. For the 2nd arrow I wanted to ask you (Golfer) how is it that you would have entered, you mentioned in your post "3 higher lows", how does that work? do they also have to be above 21EMA, could you elaborate on that please.
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  • #6,496
  • Mar 12, 2009 10:06pm Mar 12, 2009 10:06pm
Hi all..

Forgive me if I am out of line here....as I have not read to much on the newer version of this method...

But with all the looking at bars and other indicators...I am not sure if a very simple method has moved to a method where people are getting confused as to when to pull the trigger and get in...

The previous post is a good example of what I mean....the 50ma was looking good...the shorter ma's turned down a little and then turned again to the trade direction...this should have been a good enough time to enter....

But there was a bit of indecision..

With the original method I did not think getting in just because the price moved between the ma's was a good reason to enter , but a move back in the trade direction was...

Jst my 20cents worth..
  • #6,497
  • Mar 12, 2009 10:22pm Mar 12, 2009 10:22pm
Quoting Angler
Just my 2cts worth..
good evening judith & angler:

im no expert re phillip's/golfer's trading method, but my understanding from what i know the 2nd trade from judith's EURUSD chart was nearly a 1-2-3 nel trade. im w/ judith about the 1st one; it was a bit more tricky & perhaps an aggressive trade.

back to the 1st trade. angler mentioned the MA's which is what i noticed too and also, price pulled back into the "war zone" ... something nel talked about in the set-up video. there was also that power bar too. however, if there was still some indecision, there was the MACD pulled back to the zero line which nel talked about foreshadowing a break-out. still not sure and want to go conservative? then we have that little bar on the MACD that broke from the zero, then a confirming bar that went even higher. it gives us the TC effect there & entry could then be made at the opening of the next bar ...

hope any of this helps. feel free to correct me if i have misunderstood nel's set-up.

cheers.
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"Believe nothing you hear and half of what you see." Proverb
  • #6,498
  • Mar 12, 2009 10:25pm Mar 12, 2009 10:25pm
Quoting fxgrinder
...angler mentioned the MA's which is what i noticed too and also, price pulled back into the "war zone" ... something nel talked about in the set-up video....
Wait... There's a video???
Money missed is better than money lost
  • #6,499
  • Mar 12, 2009 10:32pm Mar 12, 2009 10:32pm
Quoting Dahlia
Wait... There's a video???
http://www.forexfactory.com/showpost...postcount=3436

unzip the file. it's an mp3 file. at first i just thought it was the chart file, but it wasn't. there's more too from his list in the first post.

(he speaks very highly of golfer in several of them. very cool)
"Believe nothing you hear and half of what you see." Proverb
  • #6,500
  • Mar 13, 2009 1:14am Mar 13, 2009 1:14am
Quoting judith
1. went long after bullish engulfing bar TP=15p. reason...price was making higher highs and higher lows respecting 10EMA (is that bullish engulfing a valid "power bar"???)

2. I didnt enter at the pinbar, I saw a series of higher lows but we were to close to round number 1.2800 and chickend out. For the 2nd arrow I wanted to ask you (Golfer) how is it that you would have entered, you mentioned in your post "3 higher lows", how does that work? do they also have to be above 21EMA, could you elaborate on that please.
Hi J

I hope it is clear on the chart posted - I will look for another few examples later today and post it.

You will find many situations where there are three consecutive candles with higher lows. What I'm looking for is that pullback into the war zone and then the continuation of the movement upwards (the turnaround and /or the bounce off the 21) should be initiated by the 3 higher lows.

I hope it makes sense
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Willem Forex recipe for success = Patience, discipline & hard work.
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