Effective 5M intraday trading

Good morning, traders!

Pic.1 shows possible scenarios. Looks like one of them worked itself out so I expect the retracement to the upside.
Pic.2 showes divergence and possible setup forming to the upside.

Regards,
snu.

First pic showes scenarios in blue and red lines.
Second pic shows TLs, if upper is broken and retested - I'm long.
If lower is broken and retested - I'm short.

Snu.

Morning.
Major TL was absolutely broken yesterday. Now i expect re-testing retrace to it. Especially there is MACD div even on 1H TF.
5M shows doblebottom formation. So let's wait for the long trade opportunity.

tl is broken for me?
but i dont known if we have strenght to go up
mayby after good news in half of hour
if they will be good;p

Yep. TL is broken and retested. Entry after IB at 1.2323.
Sl 20 pips as usual. First targert - 1.2352 as strong S/R lvl.
Second targert - 61.8% fibo retrace 1.2394. I'm already in. Will see.....

hmm i skip this one i think
see smal; div on m5 and hiden div on m15 i would consider down;p

Moved SL 5 pips below to stay in trade. We have KG lvl works as support at 1.23035. Price also bounced 61.8% fibo retrace lvl. Hope it'll work out

SL finally hit. Wrong entry

i took -7 sl at first try short
and now +18 at second =]

Eat_My_short, there are several aspects regarding your entry that are worth mentioning.

1. Technically, your entry is absolutely correct. But allways remember that you have to lead your trade. I've marked the bar on the pic which broke 3 EMA's at once - this is very strong local reversal signal. You should've exited your trade right after that bar and not waited for your SL.

2. Also, make thorougher analysis and decide if its safe to enter early. In this case I personally would've waited for the break of 200 EMA and retest since we have nice fib cluster there according to 5M TF.

Current situation as I see it:

Since we finally broke the low, I expect the market to go further down.
According to 1H TF I would suspect it testing or breaking the Neck LVL @ 1.2250 after which we would have a nice retracement with right shoulder formation and opportunity to go long on 5M TF. We shall see.

Snu.

mayby now will be some retest?
see m30 nice div..
and we just broke one tl at 5min...

TL's broken (Absolutely ;-)) and retested. Div on MACD, IB.
EP 1.2273 with 20 pips SL.
Correct, hm?

i dont known look good but i took + 10 and quit this level 12285 is strange;p
i will reenter if we break down tl from m30;p

Good morning!

Current setup on EU looks like H&S formation
TL on RSH is broken, lets see if I get filled on expected retest.

Regards,
snu.

Target of 1.2286 reached according to ABCD model marked with red lines.

Neckline is broken and retested. I put buy limit @ 1.2270 (point C according to bigger ABCD model, marked in green lines on pic) but didn't get filled.

Target according to "green" ABCD model is 1.2305

Regards,
snu

1.2305 reached. We have divergence and TLB, setup is forming according to the system.

EP/SL as per pic, first target is lower TL.

yep im in almoust same trade
it was wrong place to enter
but i also belive in a nice move down
its 3rd leg if this uptrend so...?;p

that was kind of stressfoul 45min;p
hmm i think it is possible to break this lower up tl
half closed

edit
lol i closed all by accident
i must change the hotkey xD

Hello guys!
My re-entry:
EP - 1.2269
SL - 1.2280
TP - 1.2245

Any comments?

GJ, bbolss!

Its nice that we see same situations on the market using different analisys. I entered at the same point as you did and had 45 stressful minutes as well, but the right thing to do was to wait for the neckline break and retest.

We should try to train ourselves to catch impulse moves right before they happen instead of waiting out through the pullbacks. Understanding H&S model and waiting for the break of neckline and retrace will help us do that!

Check out the picture with explanation of correct entry point! I post this partialy for myself since I'm also having troubles entering the market at the correct place and time.

Regards,
snu.