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515 Eurofighter System

  • #381
  • Aug 11, 2009 6:11am Aug 11, 2009 6:11am
Quoting orangeRANGE
LONG signal @ here.

As per 15m, if the 50SMA couldn't support the price, the next level we should watch for entry is the temporary Sup TL as shown in arrow.

Hope this helps.

(Note: Do not overlook the H1 Price Action and signal as well...)
Nice LONG signal from 50SMA (15m) just now. The vertical line is where the signal is taken from 5m TF.

Very good for 20p profit in the bag.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 45 KB
Click to Enlarge Name: eu2.gif Size: 44 KB
  • #382
  • Aug 11, 2009 6:28am Aug 11, 2009 6:28am
Hi ORangeRange.

First of all, thank you very much for sharing this amazing system and teach us so well. I see that this system is a result of very strong work and experience, and am very grateful with you for sharing it.

Second, about last signal, I was just following the charts and noted that STO went in swing areas a couple of candles before the one you identified as signal candle. Could you explain why it is better to wait and what is the specific for getting your candle as signal?

Finally, I was in doubt about this signal, bc previously I say price to in down to TL under SMA50 for three times, and I was not sure. Could you explain why could we not be aware of this?

Thank you so much again.
  • #383
  • Aug 11, 2009 8:23am Aug 11, 2009 8:23am
Quoting biz0101
Well done! How long have you been using this system?
Hello...

Thanks for the compliment. I've been using this system since June 2009. Have been studying and researching this on my own since January this year.
  • #384
  • Aug 11, 2009 8:26am Aug 11, 2009 8:26am
Quoting orangeRANGE
Nice LONG signal from 50SMA (15m) just now. The vertical line is where the signal is taken from 5m TF.

Very good for 20p profit in the bag.
Ellipse: The price already break below this temporary Sup TL. I'll remove this line later on.

See arrow: Making another temporary Res TL here for H1-M15-M5 viewing only.

Hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 45 KB
  • #385
  • Aug 11, 2009 8:41am Aug 11, 2009 8:41am
Quoting orangeRANGE
Euro session has created some movement in the market now. As predicted earlier, per H4 the price is now rebounce up to 8EMA area (and probably still can go up until 21EMA). Just look at the stochastic and momentum behaviour.
In H1, I just made a temporary Sup TL (see arrow) for lower TFs viewing only (H1-M15-M5). Hope this helps.
Here is the latest update:-

D1
Pay attention to 50SMA @ 1.4081 now. I think this is the lowest point where the rebounce area might happened.

H4
See ellipse: Doji against 8EMA in the previous candle. Price is now retest 200SMA and lower Channel very hard. Becareful because it seems to be a false breakout here.

H1
A nice resistance @ 50SMA for TC downside pattern for the past couple of hours. We still have to very2 carefull with the PW 1.4110 since it is still remaining the strong support so far.

Be patient now. Hope this helps.

Comments/questions are most welcome.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 47 KB
Click to Enlarge Name: eu2.gif Size: 47 KB
Click to Enlarge Name: eu3.gif Size: 44 KB
  • #386
  • Aug 11, 2009 10:09am Aug 11, 2009 10:09am
Update: I am creating another temporary Sup TL here (see arrow) for lower TFs (H1-M15-M5) viewing only. Hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 45 KB
  • #387
  • Aug 11, 2009 11:18am Aug 11, 2009 11:18am
Hello,

about the Stochastic Bars indi, could you please specify what the different bar colors (Red, Lime, Gold, Orange, ...) mean?

Thank you in advance.
  • #388
  • Aug 12, 2009 12:11am Aug 12, 2009 12:11am
Quoting Fedro
Hello,

about the Stochastic Bars indi, could you please specify what the different bar colors (Red, Lime, Gold, Orange, ...) mean?

Thank you in advance.
Different colours represent different strength of the stochastic behaviour. You can pick your own colours in its set up.

Hope this helps.
  • #389
  • Aug 12, 2009 12:23am Aug 12, 2009 12:23am
Hi all...

Let's roll:-

D1
50SMA and lower Channel still supporting the price...meanwhile stochastic is begin to make it SWING LOW behaviour.

H4
We are stuck between 200SMA/PW 1.4110 and 8EMA/PW1.4190. A typical sideways direction as we always seen lately.

H1
8EMA, 21EMA and 50SMA are all bunched up together right now. The only way to trade during this "freezing" market is by using lower TFs from 15m and 5m (515 Strategy) for scalping method.

I am still on the sideline today. Will let the market plays out and have a little breathe before we can see some nice direction again. Hope this helps.

Comments/questions are most welcome.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 47 KB
Click to Enlarge Name: eu2.gif Size: 46 KB
Click to Enlarge Name: eu3.gif Size: 43 KB
  • #390
  • Aug 12, 2009 8:16am Aug 12, 2009 8:16am
Quoting orangeRANGE
Hi all...
D1
50SMA and lower Channel still supporting the price...meanwhile stochastic is begin to make it SWING LOW behaviour.
I am still on the sideline today. Will let the market plays out and have a little breathe before we can see some nice direction again. Hope this helps.
Hello again...here we go for the latest update:-

D1
As I always mentioned earlier, price exactly rebounce @ 50SMA.

H4
Nice + strong support from lower Channel and PW 1.4110 for the rebounce area.

H1
Looking forward for PW 1.4190 (Somewhere around 21EMA @ H4) for a little retracement before we can see a TC upside pattern.

Hope this helps.

Comments/questions are most welcome.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 47 KB
Click to Enlarge Name: eu2.gif Size: 46 KB
Click to Enlarge Name: eu3.gif Size: 41 KB
  • #391
  • Aug 12, 2009 10:06am Aug 12, 2009 10:06am
Quoting orangeRANGE
H4
Nice + strong support from lower Channel and PW 1.4110 for the rebounce area.
Next level to watch as per H4 below are:-

89SMA;
PW 1.4270; then...
50SMA

Also, attached herewith is my latest template. Hope this helps.

Comments/questions are most welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.gif Size: 49 KB
Attached File(s)
File Type: tpl 515eurofightersystem.tpl   26 KB | 176 downloads
  • #392
  • Aug 12, 2009 10:22am Aug 12, 2009 10:22am
LONG Signal (see ellipse area).

I'm looking forward to BUY somewhere around 50SMA @ 5m (21EMA @ 15m). This also will depending on how the PA and signals provided from 15m and H1 TF as well.

Hope this helps.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 40 KB
Click to Enlarge Name: eu2.gif Size: 40 KB
  • #393
  • Aug 12, 2009 10:31am Aug 12, 2009 10:31am
The uptrending is so obvious when you see your 5m chart become like this. See how the PA when around 50SMA and 21EMA (see ellipses).

Hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 40 KB
  • #394
  • Aug 12, 2009 11:14am Aug 12, 2009 11:14am
Hello, orangeRANGE.

1. The ellipses you highlight are not good setups, right (Stochastic is not always in swing low area). So, should we enter only based on PA on the MAs?


2. As for the attached image (sorry, I don't know how to include images i the post), I traded on the vertical lines. The blue were M5 only setups (10 pip), the red was a M5+M15 (20pips) setup, but it was counter trend, so it has been a loser.

Please, could you give your comments? Many Thanks.
Attached Image (click to enlarge)
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  • #395
  • Aug 12, 2009 11:30pm Aug 12, 2009 11:30pm
Quoting Fedro
Hello, orangeRANGE.

1. The ellipses you highlight are not good setups, right (Stochastic is not always in swing low area). So, should we enter only based on PA on the MAs?


2. As for the attached image (sorry, I don't know how to include images i the post), I traded on the vertical lines. The blue were M5 only setups (10 pip), the red was a M5+M15 (20pips) setup, but it was counter trend, so it has been a loser.

Please, could you give your comments? Many Thanks.
Hello Fedro,

1) Yes, as per the signal, they are not good setups. The most important thing to be considered when using this system is the PA around the MAs and sup/res TLs. As I always mentioned in my previous lessons, stochastic + momentum are for supportive signals only.

2) During a fast trending market, NEVER EVER do the CT trade. When the market trending up very fast, only favour LONG. During this kind of trend, stochastic swing high is often making false signal especially in lower TFs (5m and 15m). Vice versa if the market downtrending very fast.

As per my previous lessons, you need to identify the true/false signal. Do not trade every signal provided by stochastic (especially during a fast trending market).

In addition, you need to understand how to read the higher TF PA and direction (rhythm) because they are the more dominant, especially the H4. That's the purpose I post my daily overview here. Simply put, we get the idea of the market direction from higher TFs and we trade using the lower TFs. That's it is all about.

Please go through all the lessons in this thread and do your demo trade before you live trading.

Hope this helps.
  • #396
  • Aug 12, 2009 11:44pm Aug 12, 2009 11:44pm
Good day to all,

We have wild movement in the market yesterday. So, here we go now:-

D1
Not much to say. It is bias to the upside move as per the stochastic.

H4
We see the price is struggling to break above 89SMA but it manage to get support from 8EMA and 21EMA for now. Beware of the stochastic's SWING HIGH behaviour now. We might see some retracement before the price making TC upside pattern later on.

H1
Price is slowly begin to ride above 8EMA now and our next target should be PW 1.4270 before we can see some resistance around res TL (see arrow) above it.

I am bias to the upside move for today. Hope this helps.

Comments/questions are most welcome.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 47 KB
Click to Enlarge Name: eu2.gif Size: 49 KB
Click to Enlarge Name: eu3.gif Size: 42 KB
  • #397
  • Aug 13, 2009 1:33am Aug 13, 2009 1:33am
Hello orangeRange.

Thank you very much for your help, it is very valuable. I read all post in the thread and am astonished by your knowledge and genius. I feel lucky about meeting you and 515EF method.

Don't be afraid: I'm demo trading on this new approach, I want to learn it well before going live. I knew that going CT was risky, but being demo I prefer to make errors there. Errors teach, and I think that I can learn a lot making errors (in demo, obviously).

Here I put a special situation with some analisys, looking forward for your comments.

At 17:45 (my charts are GMT), STO@5M went at swing low area. Price was etween 8 and 21 EMA, and before it swong-up here for three times. The trend was strong, the last support (formed by the doji at 17:20) was tested, and the signal candle was a bull candle, so I thought this was a good setup. I tried a long 10pip, entering at 1.4224. Eventually EU went down just 10 pips before swinging up, so the trade was loser. I tried to figure out how could I avoid such errors:
1) PA @ 5M was not giving a so convincing reversal formation.
2) the 15M candle was still too far from 8EMA, that gave strong support in 15M in the last few hours.
3) STO @ 15M had broken its uptrend and was pointing down, while mom @ 15 M got a very high peak and was pointing down too.

- Which of points 1-2-3 is the most important per your knowledge?
- Are there more things we should note here for which we should have rather waited?
- Going on to the following candles, is there , by your experience, a better entry point?
- Being imminent some important news (19:15 in FF calendar), should we stay out from trading say 1-2 hours before?

Thank you in advance for your comments.
Attached Image (click to enlarge)
Click to Enlarge Name: p1.jpg Size: 343 KB
  • #398
  • Aug 13, 2009 2:21am Aug 13, 2009 2:21am
Quoting Fedro
Hello orangeRange.

Thank you very much for your help, it is very valuable. I read all post in the thread and am astonished by your knowledge and genius. I feel lucky about meeting you and 515EF method.

Don't be afraid: I'm demo trading on this new approach, I want to learn it well before going live. I knew that going CT was risky, but being demo I prefer to make errors there. Errors teach, and I think that I can learn a lot making errors (in demo, obviously).

Here I put a special situation with some analisys, looking forward for your comments....
Fedro,

-for point #2, whenever the candle has been away from 10EMA (not 8EMA), you must be aware that it might pullback to that MA after a while. For point #3, it is very important to know that retrcament could happened at anytime if both stoch and momentum are already at their peak. Point #1 is the least important to me.

-I x understand this question....

-there is no good entry from there. You must know what the higher TFs doing as well (H1 and H4) and what their PAs around certain MA. In this case, it was nearby 89SMA with it stochastic @ SWING HIGH level (H4) showing some resistance in the way. So, alert...

-I will only avoid trading when the Fed/ECB about to announce their interest rates, the US Unemployment Claims and the NFP of course.

Hope this helps.
  • #399
  • Edited 5:20am Aug 13, 2009 5:02am | Edited 5:20am
See ellipses.

These two signals are so far the best produced by both stochastic and momentum for today as per 5m chart below.

Signal #1 (SHORT)
Price reaching @ PW 1.4270 (I always beware of retracement/rebounce when the price reaching PW)
Stochastic + momentum are @ SWING HIGH level.

Signal #2 (LONG)
Price get support @ 50SMA
Stochastic + momentum are @ SWING LOW level.

Maximum 40p profits from both signals if the 20p SL/TP Strategy and Rules is used here.

Hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 40 KB
  • #400
  • Aug 13, 2009 5:19am Aug 13, 2009 5:19am
Quoting orangeRANGE
H4
We see the price is struggling to break above 89SMA but it manage to get support from 8EMA and 21EMA for now. Beware of the stochastic's SWING HIGH behaviour now. We might see some retracement before the price making TC upside pattern later on.
H1
Price is slowly begin to ride above 8EMA [color=black]now and our next target should be PW 1.4270 before we can see...
Here we go for the latest update:-

H4
Becarefull now with the PW 1.4270, 50SMA and Res TL (see arrow).
If the price break through them, our next target for some good retracement are somewhere around fib 100% or PW 1.4350.

H1
This TF telling that the market in "OVERBOUGHT" situation now. 200SMA is in the way, meanwhile the both stochastic + momentum are at their peak.

The bull is on parade but we might also see the some fight from the bear, hopefully during the US session later on. Hope this helps.

Comments/questions are most welcome.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 49 KB
Click to Enlarge Name: eu2.gif Size: 42 KB
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