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Effective 5M intraday trading

  • #181
  • Jun 7, 2010 12:10am Jun 7, 2010 12:10am
Quoting snusnufreak
Good morning all!

EU looks like H&S is forming.

My order is in place:

EP: 1.1919
SL: 1.1899
TP: 1.2000

Pic is attached.

Regards,
snu

Hi,

I took exactly the same order
however i did not manage to identify H & S
Instead i took because price went above MA50 and MACD was above 0.
Pls take a look at my trendlines and tell me if i draw it wrongly. Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Trend and divergence EU2.jpg Size: 123 KB
  • #182
  • Jun 7, 2010 12:22am Jun 7, 2010 12:22am
Good morning!
I entry by market order at 1,1915
My SL - 1,1895
TP - 1,1955
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur3.gif Size: 24 KB
Click to Enlarge Name: eur2.gif Size: 16 KB
Click to Enlarge Name: eur.gif Size: 23 KB
  • #183
  • Jun 7, 2010 12:26am Jun 7, 2010 12:26am
i would consider smal sell now looks like strong s/r ?
whad do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: se.gif Size: 28 KB
  • #184
  • Jun 7, 2010 12:29am Jun 7, 2010 12:29am
Quoting Let
Good morning!
I entry by market order at 1,1915
My SL - 1,1895
TP - 1,1955

Hi Will you be able to attach your template? Especially the pivotD_5 template, i am aware that snu has attached it b4 however it always appears as black background in my graph. Thanks!
  • #185
  • Jun 7, 2010 12:36am Jun 7, 2010 12:36am
Here are possibilities of Price retracements using 1H TF and diferent reference points. I considered only closest ones.

Regards,
snu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu - 1 .gif Size: 26 KB
Click to Enlarge Name: eu - 2 .gif Size: 26 KB
  • #186
  • Jun 7, 2010 1:02am Jun 7, 2010 1:02am
No prob.


Quoting Destrader
Hi Will you be able to attach your template? Especially the pivotD_5 template, i am aware that snu has attached it b4 however it always appears as black background in my graph. Thanks!
Attached File(s)
File Type: tpl my_tpl_5m (with 15m stoch).tpl   14 KB | 234 downloads
File Type: ex4 #KG Support and Resistance Alert_Revision 2.ex4   9 KB | 214 downloads
File Type: ex4 #4X 3 Semafor Alert.ex4   11 KB | 223 downloads
File Type: ex4 PivotsD_v5.ex4   25 KB | 230 downloads
File Type: ex4 IB.ex4   2 KB | 200 downloads
File Type: ex4 2BStochastics_MTF_for_M5.ex4   9 KB | 251 downloads
  • #187
  • Jun 7, 2010 1:08am Jun 7, 2010 1:08am
Hi,
as mentioned in the chat room, this clock indicator is really useful.

Regards,
Des
Attached File(s)
File Type: ex4 P4L Clock.ex4   28 KB | 254 downloads
  • #188
  • Jun 7, 2010 1:56am Jun 7, 2010 1:56am
Hi,ALL...
Let me clarify H&SH formation:
1.Spike in Volume on the LSH
2. Divergence
( between LSH and HEAD Left side of NECK - then mirrow
Rignt side of NECK and RSH)
...according to this - PA breaks LeftSideNeck = RightSideNeck then
RE-Test = RSH

indicators have to be used accordingly
1. stadart MACD in positive Zone
2.PA > 50EMA
3. draw TL touching RSN = HH
4. IB, Fractal = HL = RSH
please, correct me...
Attached Image (click to enlarge)
Click to Enlarge Name: cci.jpg Size: 196 KB
  • #189
  • Jun 7, 2010 2:11am Jun 7, 2010 2:11am
Closed @ +30 since 1.1950 is a strong S/R lvl - daily open + FS1 lvl + half number.
  • #190
  • Jun 7, 2010 2:23am Jun 7, 2010 2:23am
My re-entry:
Stoch - pullback
Hidden div -on stoch
EP at High of IB at 1940
Is it correct?
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 18 KB
  • #191
  • Jun 7, 2010 2:42am Jun 7, 2010 2:42am
im still thinking about short
will see
Attached Image (click to enlarge)
Click to Enlarge Name: up.gif Size: 32 KB
  • #192
  • Jun 7, 2010 2:55am Jun 7, 2010 2:55am
Quoting serguey777
Hi,ALL...
Let me clarify H&SH formation:
1.Spike in Volume on the LSH
2. Divergence
( between LSH and HEAD Left side of NECK - then mirrow
Rignt side of NECK and RSH)
...according to this - PA breaks LeftSideNeck = RightSideNeck then
RE-Test = RSH

indicators have to be used accordingly
1. stadart MACD in positive Zone
2.PA > 50EMA
3. draw TL touching RSN = HH
4. IB, Fractal = HL = RSH
please, correct me...
serguey, so according to this RSH should be always higher than LSH, could you plz clarify. The entry to the upside should be considered only now?
  • #193
  • Edited 11:06am Jun 7, 2010 3:07am | Edited 11:06am
Hi everyone!

I missed the initial entry this morning, but got in on a retrace. I got out at 1.1950 for around 20 pips -around the confluence of the 62ema on 5M, and the 23.6% fib retracement of Friday's move.

Technicals showing nice MACD divergence on 15M, and my gut tells me we could see 1.2000 today (which would be the 38% fib retrace) but it would take a braver man than me to buy Euros in these market conditions!
  • #194
  • Jun 7, 2010 3:16am Jun 7, 2010 3:16am
Quoting snusnufreak
Closed @ +30 since 1.1950 is a strong S/R lvl - daily open + FS1 lvl + half number.
Hi Snu - think we got out around the same time. To be honest, I'm happy to escape with any pips at all after a very choppy morning. What is the FS1 lvl that you mentioned?

Yeah - round numbers and .xx50 - EURUSD really likes those levels, more than any other currency pair.

Andy
  • #195
  • Jun 7, 2010 3:17am Jun 7, 2010 3:17am
Is anyone considering this?
Attached Image (click to enlarge)
Click to Enlarge Name: Trend and divergence EU 3.jpg Size: 130 KB
  • #196
  • Jun 7, 2010 3:42am Jun 7, 2010 3:42am
Quoting Destrader
Is anyone considering this?
Upside/downside? Plz explain more
  • #197
  • Jun 7, 2010 3:47am Jun 7, 2010 3:47am
Quoting SunSeeker46
Hi Snu - think we got out around the same time. To be honest, I'm happy to escape with any pips at all after a very choppy morning. What is the FS1 lvl that you mentioned?

Yeah - round numbers and .xx50 - EURUSD really likes those levels, more than any other currency pair.

Andy
FS1 is fibonacci support, I use fibonacci formula in my Pivots indicator
  • #198
  • Jun 7, 2010 4:23am Jun 7, 2010 4:23am
Quoting Destrader
Is anyone considering this?
Sorry, i meant a fall, but looks like i am wrong.. I was thinking that once it falls below the trend line, I will look for an inside bar, a downward fractal, MACD below 0 and px <ma50.
  • #199
  • Jun 7, 2010 4:59am Jun 7, 2010 4:59am
Ur hidden div is wrong, look pdf Snu was attached, there is some info about divergency.
Regards

Quoting Destrader
Is anyone considering this?
  • #200
  • Edited Jun 8, 2010 5:32am Jun 7, 2010 6:07am | Edited Jun 8, 2010 5:32am
In this post I'll try to explain H&S using todays entry example. Plz refer back to post #158:
http://www.forexfactory.com/showpost...&postcount=158

After you've spotted the divergence its easy to identify Left Shoulder and the Head, the tricky part is identifying the Right Shoulder. Here's the rule for identification of right shoulder(according to the system).

The rule:

--------------------------------------------------------------------------------------------------------------------------------
Right shoulder (Higher Low) forms only after we have Higher High, MACD turns to our side, 50 EMA is broken and price retraces back to it.
--------------------------------------------------------------------------------------------------------------------------------

The pic in this post shows the right designation of H&S model.

According to the H&S model target is calculated based on the distance between head and right shoulder. Most commonly used ratios are 50% of that range and 70% of taht range. See pic.

As you can see, I entered when right side of the neck was forming, and thus had to wait out through the retracement which was the right shoulder formation.

The correct entry after the right shoulder has been formed was at the same price lvl, but it was in the correct place and time - after the inside bar, as shown on the picture.

Regards,

snu.
Attached Image (click to enlarge)
Click to Enlarge Name: eu - 1 .gif Size: 28 KB
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