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Trendman scalping system

  • #341
  • Oct 14, 2009 6:13am Oct 14, 2009 6:13am
I'm feeling a big drop,let's see
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  • #342
  • Oct 14, 2009 6:49am Oct 14, 2009 6:49am
Nice drop , yippee, let the pips be banked.
  • #343
  • Oct 14, 2009 7:05am Oct 14, 2009 7:05am
good 15 pips EUR/USD trade took NOW on New York open
Attached Image (click to enlarge)
Click to Enlarge Name: example04.gif Size: 90 KB
  • #344
  • Oct 14, 2009 7:05am Oct 14, 2009 7:05am
careful guys, If you look at OBV, no movements at all
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  • #345
  • Oct 14, 2009 7:08am Oct 14, 2009 7:08am
Obv is starting to rise very slowly
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  • #346
  • Oct 14, 2009 7:17am Oct 14, 2009 7:17am
Trendman, would this be a good way to enter, for example Ive got 2 charts, m5 and my m1...

m5 trix is down and so is the macd...then on m1 chart if you look near the end price drops, then we wait for our retrace back into the 30ema area...then on the candle marked with the vertical line we could take a short right?

I know that this is probably a countertrend trade, Not took this because of the new york open.

Is this what we look for though, signal on m5, wait for pullback on m1, and then enter?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 31 KB
Click to Enlarge Name: chart2.gif Size: 36 KB
  • #347
  • Oct 14, 2009 7:22am Oct 14, 2009 7:22am
Quoting WilteredFire
Trendman, would this be a good way to enter, for example Ive got 2 charts, m5 and my m1...

m5 trix is down and so is the macd...then on m1 chart if you look near the end price drops, then we wait for our retrace back into the 30ema area...then on the candle marked with the vertical line we could take a short right?

I know that this is probably a countertrend trade, Not took this because of the new york open.

Is this what we look for though, signal on m5, wait for pullback on m1, and then enter?
yes this is the way you should trade,also look for macd divergence and follow OBV
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  • #348
  • Oct 14, 2009 7:25am Oct 14, 2009 7:25am
look for a pullback short on eur/usd soon?
  • #349
  • Oct 14, 2009 7:26am Oct 14, 2009 7:26am
Trendman i post a sample of the last short trade + 10.4 pips exit on 200 ema 5M ! Can you tell me if the entry was ok or too late and about the exit too thanks !

Luk
  • #350
  • Oct 14, 2009 7:29am Oct 14, 2009 7:29am
Quoting PipsRider
Trendman i post a sample of the last short trade + 10.4 pips exit on 200 ema 5M ! Can you tell me if the entry was ok or too late and about the exit too thanks !

Luk
Sorry forgot the chart !
Attached File(s)
File Type: doc EURUSD short.doc   154 KB | 455 downloads
  • #351
  • Oct 14, 2009 7:30am Oct 14, 2009 7:30am
Quoting PipsRider
Sorry forgot the chart !
Nice trade, it's the same I took...
  • #352
  • Oct 14, 2009 7:36am Oct 14, 2009 7:36am
Quoting PipsRider
Sorry forgot the chart !
That is okay,you had to come out yesterday's high line
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  • #353
  • Oct 14, 2009 7:39am Oct 14, 2009 7:39am
i got a tell you, today is not a good day, very jumpy,every trade I took so far ,made me quite nervous and only managed 20 pips,still very cautios
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  • #354
  • Oct 14, 2009 7:40am Oct 14, 2009 7:40am
Quoting Retal1ator
Nice trade, it's the same I took...
Nice Retal1ator !

Luk
  • #355
  • Oct 14, 2009 7:47am Oct 14, 2009 7:47am
Quoting trendman
That is okay,you had to come out yesterday's high line
Ok thanks Trendman ! But for entry do wait for price close below or above if it s a long trade the 30 ma ? thanks

Luk
  • #356
  • Oct 14, 2009 7:48am Oct 14, 2009 7:48am
Quoting trendman
i got a tell you, today is not a good day, very jumpy,every trade I took so far ,made me quite nervous and only managed 20 pips,still very cautios
you're right man, EUR/USD and EUR/JPY are a bit crazy today

lost a lot of pips due to this fact today
  • #357
  • Oct 14, 2009 8:57am Oct 14, 2009 8:57am
USA's Business Inventories m/m in 5 minutes. i'm staying clear of the market....
  • #358
  • Oct 14, 2009 9:03am Oct 14, 2009 9:03am
Same here. Once the news is over then im gonna look for a clean setup. Gotta be careful today because of this 1.49 area though.
  • #359
  • Oct 14, 2009 9:21am Oct 14, 2009 9:21am
I've been trying to figure out how to read the OBV-RSI chart. Should I be expecting a significant move on the OBV when the price moves in a direction? Or are we looking for it to hit high or low points or certain levels. Not sure.
Could someone explain?
  • #360
  • Oct 14, 2009 9:27am Oct 14, 2009 9:27am
Drew two trendlines on the OBV, top trendline got hit a while ago and it didn't seem to penetrate it, seemed to respect it. Lets see what happens with price action if we get a break with these lines. I HOPE using trendlines on the OBV can hold some water Lets see...
Attached Image (click to enlarge)
Click to Enlarge Name: obv_trendlines.gif Size: 19 KB
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