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Forex intraday using the 5min chart: EURUSD 108 replies

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5Min Intraday System

  • #6,681
  • May 20, 2009 6:54am May 20, 2009 6:54am
EURUSD

Enter - 1.3670
TP - 1.383 (below R1)
SL - 1.358 ( at support - resistance)
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd3.GIF Size: 20 KB
  • #6,682
  • May 21, 2009 11:08am May 21, 2009 11:08am
Quoting Golfer
Just to show people that I am still using this system - my entry was a bit late but good for 15pips profit. It was also the 4th big brother.

Entry according to TC on the MACD should have been on the opening of the candle where I've entered.But I was waiting for a break of th
at pivot line.
nice trade
  • #6,683
  • May 21, 2009 12:38pm May 21, 2009 12:38pm
Quoting ARtuRO
EURUSD

Enter - 1.3670
TP - 1.383 (below R1)
SL - 1.358 ( at support - resistance)
Great triangle breakout trade.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,684
  • May 21, 2009 11:35pm May 21, 2009 11:35pm
A late trade of mine after a smooth pullback and then a 3 consecutive higher low signal to enter above the specific daily pivot line.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.131.JPG Size: 84 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,685
  • May 21, 2009 11:45pm May 21, 2009 11:45pm
Hi Golfer. Glad to see that you're still posting
Money missed is better than money lost
  • #6,686
  • May 22, 2009 7:22am May 22, 2009 7:22am
Next my tringle breakout in this week

GBPUSD
Three reason :
1. TC on MACD
2. Resistance change to support (M3 line)
3. Breakout tringle (main!)

Enter - 1.5879
+ 14 pipis

It could be better - price go in 6 min. time to 1.5940 !
Next time I try Traling Stop

Enjoy the weekend
Attached Image (click to enlarge)
Click to Enlarge Name: cabel.GIF Size: 29 KB
  • #6,687
  • May 22, 2009 7:45am May 22, 2009 7:45am
Quoting ARtuRO
Next my tringle breakout in this week

GBPUSD
Three reason :
1. TC on MACD
2. Resistance change to support (M3 line)
3. Breakout tringle (main!)

Enter - 1.5879
+ 14 pipis

It could be better - price go in 6 min. time to 1.5940 !
Next time I try Traling Stop

Enjoy the weekend

Yes, my favourite signal - support changing into resistance and the other way around. You cannot really go wrong if you wait for that signal but you need extra patience and discipline. But like anything in Forex trading - nothing is certain!

Nice one - I am still struggling with a proper Trailing SL system. Just didn't seem to work for me. Always easy to say afterward but not in real life????
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,688
  • May 22, 2009 7:52am May 22, 2009 7:52am
Quoting Dahlia
Hi Golfer. Glad to see that you're still posting
Yes, I am still around and using the principles of this system. Just don't have the time to have chats/posts on this system exclusively.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,689
  • May 22, 2009 2:28pm May 22, 2009 2:28pm
Quoting Golfer
Yes, my favourite signal...

Nice one - I am still struggling with a proper Trailing SL system. Just didn't seem to work for me. Always easy to say afterward but not in real life????
I think good solution to this breakout was half amount for standard trade (eg. TP/SL 15/15)
and half for Trailing Stop - like bshadroo do in his trade.
However sometimes things happened to fast on market especially on 5 Min system and I cant plan precisely my trade.

On the other hand 5 minute before breakout I will be glad for standard profit 15 pips

Enjoy the weekend once again !
  • #6,690
  • May 26, 2009 7:01pm May 26, 2009 7:01pm
Thanks Golfer for being around and still helping people

Regards
Mike
Failure, is a wonderful teacher!
  • #6,691
  • Edited 9:00am May 27, 2009 8:43am | Edited 9:00am
Here is a trade for the day. The 50 MA was not in place, but I liked the price action. Reasons for trade:
1) price above 50 MA
2) retracement to 21 MA
3) retracement to previous resistance line and now support
4) Power candle, close to it
5) price looked like it was finding support on the 21 on the 4 hr time frame

I took profit at the daily pivot and the resistance line at 3973.

Edit: I missed the 3 sister off the 50MA, but it was nice
Attached Image (click to enlarge)
Click to Enlarge Name: 052609-5min.gif Size: 48 KB
  • #6,692
  • May 27, 2009 2:17pm May 27, 2009 2:17pm
Quoting Morelands
Here is a trade for the day. The 50 MA was not in place, but I liked the price action. Reasons for trade:
1) price above 50 MA
2) retracement to 21 MA
3) retracement to previous resistance line and now support
4) Power candle, close to it
5) price looked like it was finding support on the 21 on the 4 hr time frame

I took profit at the daily pivot and the resistance line at 3973.

Edit: I missed the 3 sister off the 50MA, but it was nice

Good trade ,
Some rules of 5 min system was pass over but sometimes it is
difficulty to catch all in one trade ;-)
  • #6,693
  • May 27, 2009 6:22pm May 27, 2009 6:22pm
Thanks
Electrical Eng... well you have the brain and it looks like you are putting the work in. Keep it up.
Raymond

Quoting ARtuRO

Good trade ,
Some rules of 5 min system was pass over but sometimes it is
difficulty to catch all in one trade ;-)

  • #6,694
  • May 29, 2009 6:15am May 29, 2009 6:15am
Here's the trade for the day. Support off the 10MA and R2. Open and closed on the same candle.
Attached Image (click to enlarge)
Click to Enlarge Name: 052809-5min.gif Size: 44 KB
  • #6,695
  • May 29, 2009 12:19pm May 29, 2009 12:19pm
Quoting Morelands
Here's the trade for the day. Support off the 10MA and R2. Open and closed on the same candle.
Also a few nice setups on your chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 7a.JPG Size: 139 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,696
  • May 29, 2009 12:26pm May 29, 2009 12:26pm
Quoting mike1349
Thanks Golfer for being around and still helping people

Regards
Mike
Hi M

Only a pleasure and I did enjoy the interactions. But I don't have the time to try and keep this thread going again. So I am now seriously concentrating on my trading using Phillip's principles and this system.

Enjoy the trading.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,697
  • May 30, 2009 4:46am May 30, 2009 4:46am
Greetings everyone...
First of all, I would like to thank Master Phillip and Willem for creating, compiling and sharing this great system, and also to people who's been contributing to this thread. I'm new here, though been studying Master Phillip's H4 system for a while. I just found that this thread is as great as the one in H4. I should have studied before. Don't know whether it's too late, but I just hope that Willem will still around...
Second, I have some questions to ask, hope that anyone here, especially Willem don't mind to answer:
I've been looking at the parameter and indicator for this system, and I just wonder about the usage of SMA angle (50, 0.15, 2, 0) indicator. Please correct me if I wrong, I just know that 21EMA on SMA angle shouldn't be in the -0.1 to 0.1 zone for getting an entry. But how about its histogram, was it representing something or is there any relation between histogram and the 21EMA? I noticed in Master Phillip's summary, the TC trade that been made is when 21EMA is inside those histogram, but I also found out that most of the cases the entry that been made didn't satisfy that way.
Is there any other rules for SMA angle indicator instead of what I've mentioned above? I know that decision for getting an entry is not based solely on this indicator only. It's just that I'm curious about the rules that SMA angle plays. Anyway, the histogram is there meant to be something, right?
Thank you so much in advance...
  • #6,698
  • Jun 1, 2009 12:43am Jun 1, 2009 12:43am
Quoting hammerhead
Greetings everyone...
First of all, I would like to thank Master Phillip and Willem for creating, compiling and sharing this great system, and also to people who's been contributing to this thread. I'm new here, though been studying Master Phillip's H4 system for a while. I just found that this thread is as great as the one in H4. I should have studied before. Don't know whether it's too late, but I just hope that Willem will still around...
Second, I have some questions to ask, hope that anyone here, especially Willem don't mind to answer:
I've...
Hi H

I did receive your pm but I am still here to answer questions:
At this stage I am just using the 21 on the SMAangle to look for the start of a small trend. That is, when the 21 is in the non-trade zone, I'll be very careful. When the 21 is above the non-trade zone, I''l be looking for long trades and when the 21 is below the non-trade zone, I'll be looking for short trades.

I don't really use the bars/histogram on the SMAangle.

Like I said before, look at the price actions and patterns as a guide and then use the indicators to confirm you decisions. Trading by just looking at/using the indicators will get you nowhere.

It is the same as with the 4h MACD system - look at the price actions/market rhythm between the various MAs and use the MACD to confirm your entry.

I hope it helps

Enjoy the trading
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,699
  • Edited 6:00am Jun 1, 2009 5:43am | Edited 6:00am
Hello Willem, hello all...

Just got stopped out on gbpusd today for 22pips. Attached chart for you to see... I know that I'm not supposed to trade when 21EMA is between -0.1 and 0.1 zone. But look at the relation between price and MA, seems that price pulling back to 50SMA and my TL as well, so I took the risk by short but the price went up and took my S/L! Any opinion Willem? Thank you so much in advance...
PS: Looking at the speed of the market seems pretty fast, wonder if you would get a long entry under this circumstances, if so, would you show me where? Also wonder what time do you usually trade? Thank you!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 0906-01 (m5).gif Size: 18 KB
  • #6,700
  • Jun 1, 2009 10:34am Jun 1, 2009 10:34am
12 pips on the church steeple with the three down bars.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
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