515 Eurofighter System | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The System Behind the System, by Merlin Jeffries 16 replies

Broker fined again - $515,000 23 replies

200 Ema system - help me build a system ! 19 replies

Knife system, Vegas 4h system related questions. 4 replies

Would you trade this system? New system #2. 10 replies

Attachments: 515 Eurofighter System
Exit Attachments

515 Eurofighter System

  • #61
  • Jun 25, 2009 1:00am Jun 25, 2009 1:00am
Quoting PipsRider
Orange, just to be sure about the rules, even when stochastic has changed direction in 5M and 15M we stay in the trade too ? Thanks
Luk
You need to stay with the rules. From that you can find out whether the stochastic in 5m/15m making a true/false signal.

Try to relate the PA that move around MAs/PW/fib/TL and Equidistant Channel that in sync with the stochastic behaviour. From there you can see where to make a good entry.

Hope this helps.
  • #62
  • Jun 25, 2009 4:33am Jun 25, 2009 4:33am
Quoting orangeRANGE
Placing sell limit here based on 15m+5m swing high (a little bit late entry as per 5m).

Order @ blue vertical line with 20p SL/TP as my trading strategy.

Let us see how it goes.
It was a little bit tough ride (around 3hours of waiting) since the entry wasn't that good and made during the Mid-Asian session...but...this trade still manage to get the 20pips somewhere around aqua rectangular area as per the chart below.

Something is already well proven from this system...even ii is used during the "quite market".

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 71 KB
  • #63
  • Jun 25, 2009 5:08am Jun 25, 2009 5:08am
Using 20p SL/TP strategy as both m5 and m15 stochastic now are @ swing low level (<20).

ENTRY @ lime vertical line.

Let us see if this move works or not.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 70 KB
Click to Enlarge Name: eu2.gif Size: 70 KB
  • #64
  • Jun 25, 2009 7:57am Jun 25, 2009 7:57am
Quoting orangeRANGE
Using 20p SL/TP strategy as both m5 and m15 stochastic now are @ swing low level (<20).

ENTRY @ lime vertical line.

Let us see if this move works or not.
It seems this one was a false signal.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 71 KB
  • #65
  • Jun 25, 2009 8:19am Jun 25, 2009 8:19am
Okay...let's try again for this one...I'm doing a CT (Counter Trend) now.

Stochastic @ M5 and M15 are both making swing low supported with H1 swing low as well.

Price testing lower part of the CHANNEL (potential strong support level).

Entry @ LIME vertical line using 10 lot entry for this one with 20p SL/TP strategy.

Let's see if this one still works.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 72 KB
Click to Enlarge Name: eu2.gif Size: 70 KB
Click to Enlarge Name: eu3.gif Size: 68 KB
  • #66
  • Jun 25, 2009 8:38am Jun 25, 2009 8:38am
Quoting orangeRANGE
Okay...let's try again for this one...I'm doing a CT (Counter Trend) now.

Stochastic @ M5 and M15 are both making swing low supported with H1 swing low as well.

Price testing lower part of the CHANNEL (potential strong support level).

Entry @ LIME vertical line using 10 lot entry for this one with 20p SL/TP strategy.

Let's see if this one still works.
TP was hit @ blue vertical line. Regain back 20pis in the previous lost.

This move only required 30mins.

Another well proven result by this system.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 73 KB
  • #67
  • Jun 25, 2009 11:52pm Jun 25, 2009 11:52pm
Alright...I'll make it SHORT and SIMPLE here...

D1
The major trend is still uptrend, but it is a weak trend as both RSI and momentum in the "ranging zone". Stochastic also seems unsure with its direction.

H4
This is where the fun begin. Nice rebounce from the support area (aqua rectangular) as both the price and stohastic agreeing each other. Lower part of Channel, 50SMA and 200SMA are obviously the strong support areas now.

Alert: STOCHASTIC @ SWING HIGH...!!!

H1
Price just manage to close somewhere above Price Wave 1.4030. And please be aware that the stochastic is in sync with H4's stochastic as well. They are both @ SWING HIGH...

CONCLUSION
Favour the SHORT (SELL) for today should be great. Just keep in mind that the market can change direction at anytime for any reason.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 74 KB
Click to Enlarge Name: eu2.gif Size: 77 KB
Click to Enlarge Name: eu3.gif Size: 69 KB
  • #68
  • Jun 27, 2009 3:03pm Jun 27, 2009 3:03pm
Quoting orangeRANGE

Normally, I prefer during the first 2hours of Euro session and onwards to trade this system. I will avoid 1 hour before opening US session, ahead of NFP and rates announcement.

Let me know if the template doesn't work.

All the best...
Hi Orange, just want to be sure what you mean about your trading time with news announcement included, can you elaborate more ?
Ok for the first 2 hours of Euro session but i m not sure about what you mean after that ! Sorry Orange but English is not my native language and sometimes it needs more time to understand !
btw i had good results the last 2 Euro session with about 80 pips total with 6 successful demo trades in a row !
Thanks

Luk
  • #69
  • Jun 28, 2009 6:02am Jun 28, 2009 6:02am
Quoting PipsRider
Hi Orange, just want to be sure what you mean about your trading time with news announcement included, can you elaborate more ?
Ok for the first 2 hours of Euro session but i m not sure about what you mean after that ! Sorry Orange but English is not my native language and sometimes it needs more time to understand !
btw i had good results the last 2 Euro session with about 80 pips total with 6 successful demo trades in a row !
Thanks

Luk
Hi Luk,

First of all...congratulation with the 80p+6 succesfull demo in a row. That's very stunning but of course, with this system...trading is EASY right?

You can go to www.bloomberg.com to find out what is the opening time for Euro session and compare it to your local time. Then watch the market (EURusd) during the first 2 Hours of Euro session from its opening.

I will not trade ahead of NFP and ECB/Fed interest rates announcement since the market quite "crazy" before these news are released. For safety, leave the market for a while (1 to 2 hrs) after they are released. Let the dust settle to the ground. That's what other traders always said.

Hope this helps.

Keep in touch and all the best.
  • #70
  • Jun 28, 2009 6:30am Jun 28, 2009 6:30am
Hello all...Friday (26/06/2009) was seems a little bit thin trading day for us.

To see what we can have for tomorrow, let us go chart by chart:-

D1
Price ended up below temporary resistance line that I made before (look at the black thin line) and the stochastic is still uncertain with its direction. RSI however giving a little bearish signal.

Watch for the fib 76.4% as the immediate support level.

H4
A clearer view from this TF. Aqua rectangular is the area where EU found resistance from the temporary TL and it seems the stochastic is in agreement with the price (SWING HIGH). Nice long tail PA for the last candle.

Based on the stochastic, there is a possiblity for EU will retrace to at least 21EMA tomorrow.

H1
The LIME vertical line is where the last H4 candle began. Here we can see the Price Wave 1.4110 also come into play as the res TL also in place.

Let us see if the PW 1.4030 can support EU in the early session of the market next MONDAY (29/06/2009).

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 54 KB
Click to Enlarge Name: eu2.gif Size: 57 KB
Click to Enlarge Name: eu3.gif Size: 51 KB
  • #71
  • Jun 28, 2009 7:07am Jun 28, 2009 7:07am
Alright...

This is another example for those who want to trade only based on 5m stochastic swing high/low only. The rules is 10SL/TP.

Below is the last 8 hours of the market on last Friday (26/06/2009). The LIME vertical lines #5 and #6 represent the 5th and the 6th candle of H4 on this day (1day = 6 candles of H4)

The BLUE vertical lines are the signal candles (stochastic swing high/low). Consider all entries (SHORT and LONG) are at the opening of the next candle after the signal:-

SHORT (a, c, e, f, g, j)
If the rules as above applied, all of these entries give profit = 60pips..!!!

LONG (b, d, h, i, k)
With the same rules, d and k can give profit = 20pips...!!!

Roughly...all these entries can give you at least clean 50pips profit for the last 8 hours of the market. How much will you get if you start trading at the very beginning of the day? THINK ABOUT IT....

Even Friday is always a tough day for trading...but there is always trading opportunities...


HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 59 KB
  • #72
  • Jun 28, 2009 8:42am Jun 28, 2009 8:42am
Quoting orangeRANGE
Hello all...Friday (26/06/2009) was seems a little bit thin trading day for us.

To see what we can have for tomorrow, let us go chart by chart:-

D1
Price ended up below temporary resistance line that I made before (look at the black thin line) and the stochastic is still uncertain with its direction. RSI however giving a little bearish signal.

Watch for the fib 76.4% as the immediate support level.

H4
[color=black]A clearer view from...

l think you are right. it will hit the pw 1.4030 and down to 50% fibo (H1)
  • #73
  • Jun 28, 2009 11:13am Jun 28, 2009 11:13am
Orange,
Thank you for sharing your system. I have been demoing it since last week and it's looking pretty good. Will you please give an explanation how you use RSI and Momentum in this system. Thanks!


ForexRook
  • #74
  • Jun 28, 2009 10:59pm Jun 28, 2009 10:59pm
Quoting forexrook
Orange,
Thank you for sharing your system. I have been demoing it since last week and it's looking pretty good. Will you please give an explanation how you use RSI and Momentum in this system. Thanks!


ForexRook
First of all, welcome to the thread and it's always my pleasure to share this system with you and the others.

Both RSI and Momentum are optional indicators for this system, however they are very useful as filters for the stochastic behaviour.

Below is the latest example on M15. As you can see, momentum has been bottoming very low. Theoretically, it should bounce up together with the price. RSI also quite low and just above the OVERSOLD level, so we might anticipate the price would regain it strength sooner or later.

And as you can see in the black rectangular, the price also rebounce according to all the indicators (stochastic+RSI+momentum) and it is supported by 50SMA of H1.

I rarely looking at RSI+momentum because they are not so accurate as stochastic do. As I said, they are just filters...but very useful filters.

Hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 45 KB
  • #75
  • Jun 28, 2009 11:20pm Jun 28, 2009 11:20pm
Quoting orangeRANGE
Hello all...Friday (26/06/2009) was seems a little bit thin trading day for us.

To see what we can have for tomorrow, let us go chart by chart:-

D1
Price ended up below temporary resistance line that I made before (look at the black thin line) and the stochastic is still uncertain with its direction. RSI however giving a little bearish signal.

Watch for the fib 76.4% as the immediate support level.
Alright guys...as per D1, it was a doji candle on Sunday....

So, here we go:-

H4
Price testing the 21EMA on the first 4hrs of trading today. Looks like it currently supported by this MA together with the fib 76.4%.

H1
This TF showing some early move with the stochastic already making swing low once the price supported by 50SMA and fib 76.4%.

The major trend is still uptrending but it is still too early to say if this trend will be continuing later today. Just watch and play with the lower TF, M15 and M5 as what this system is all about.

That is why it is named "515" Eurofighter System...we are paying more attention on M15 and M15 entries for EURusd only.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 154 KB
  • #76
  • Jun 29, 2009 4:29am Jun 29, 2009 4:29am
Here we go again...

Watch out the two MAs (50SMA and 89SMA) with the lower part of the Channel once again. These are the SWING LOW area (especially the Channel's area) where the price found support.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 56 KB
  • #77
  • Jun 29, 2009 7:20am Jun 29, 2009 7:20am
Okay...

Here is one of the best example based on the 20p SL/TP rules:-

M15
1) Stochastic @ swing low level;
2) Fib 76.4% is the immediate support as what it has done in the previous swing low

M5
1) The LIME vertical line is the signal candle. Stochastic already making swing low supported by the momentum behaviour;
2) Entry (LONG) at the opening of the next candle.

Another EASY and CONVINCING 20p profit.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 31 KB
Click to Enlarge Name: eu2.gif Size: 30 KB
  • #78
  • Jun 29, 2009 8:06am Jun 29, 2009 8:06am
Okay...this one is the latest and one of the simplest example to identify whether the current market is trending or not.

In the case as below, this is an uptrend and I am using entry based on M5 only. The rules is 10p SL/Tp.


Signal #1: Stochastic @ SWING LOW with the price closing just above the 21EMA.

Signal #2: Here is the most important area. Stochastic @ SWING HIGH but you might not want to risk to SELL, which is a CT (Counter Trade) because you still not sure about this one. You should leave this stochastic signal to see what happen on the next SWING LOW.

Signal #3: Stochastic @ SWING LOW once again with the price is also closing above 21EMA. Enter (BUY) at the opening of the next candle.

Another easy and convincing 10p profit for this one.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 49 KB
  • #79
  • Jun 29, 2009 8:29am Jun 29, 2009 8:29am
As usual, entry @ the opening of the next candle.

1,3, and 5 are BUY signals. 2 and 4 are SELL signals.

If your entry is simply based on the M5 stochastic swing high/low only, and the rules is 10p SL/TP, the example as below are 5 signals that will give you easy 50p profit.

THINK ABOUT IT...

Any question/comment is most welcome here...

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 50 KB
  • #80
  • Jun 29, 2009 9:16am Jun 29, 2009 9:16am
This one is the latest signal that happened just now.

Stochastic @ both TF (M5 and M15) are @ swing low.

Also, both stochastic and momentum in M5 are @ swing low.

Entry @ the opening of the next candle (M5) using 20p SL/TP (because our entry also based on M15 stochastic signal).

Another easy and convincing 20p profit from this move.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 50 KB
Click to Enlarge Name: eu2.gif Size: 47 KB
3 traders viewing now