Effective 5M intraday trading

Thanks for the useful information and keeping things simple. Followed price action and plotted 2 trendlines since im good with spotting them, noticed resistance at the top and missed the first bounce down, the second attempt to break the top trendline pretty much failed and showed resistance and ended with a Pinbar, i took a short, managed my stops and made some profit.

In with +20 and the rest is riding by itself. Hope I can carry on spotting these trades and just pulling these triggers now. Been messing with lots of systems for too long, hope I can make steady profits now.

Cheers bud, screen attached of my rough entry.

Got +30 taken in, still running.

Hi Snu. Thanks for this perfect thread. Really useful. I've learned many things here.
I noticed the HS formation yesterday while watching Portugal vs Spain, but a valid trade signal did not come. Just one question. How did you find HS profit target? Is it 70% of Head / Neckline distance mentioned some time ago? Thx.

Anybody planning to short EU later on if it breaks that ascending trendline Ive just posted in my chart in my post earlier?

Looks interesting to me...Any thoughts on this...

Yeap. I was short from 20:25 (1,2251) till 21:30 (1,2237). I quit the trade with +14pips as it seemed that the strong S/R lvl at aprox 1,2235 wil not be broken.

Hey guys!
My today entry and analisys:
1. @ 30 M TF we can see xABCD scenario, what show us direction
2. @ 5 M TF we also can see xABCD scenario
there is HS formation @ 5 M TF.
So my first entry:
EP: 1,2220
SL: 1,2210
TP: 1,2240
Closed @ BE, but this is erly entry, because there is not left shoulder, and not formed B & C points
Second entry:
EP: 1,2219
SL: 1,2202
TP: 1,2245
Attachment pic show this.

Hope you guys were smart enough to short the Euro after a long move up, some nice money to be made on the retracement going down.

Wanna milk these pips like a b*tch next week. Oh, and if im not wrong, i had a trendline break on the m15 stoch? while it also crossed to the downside, that was a good hint that the retracement was ready to start.

Interesting week for sure. Have a good weekend guys, hope we can all make some good money next week.

Infact, forget being a wussy, Im going to wait for a retracement south hopefully on GBPUSD, and If i get the setup im looking for I'll short that and milk some pips from that too. Why let the money just run away? Spent 2 damn years letting all my signals just fly by on screen, time to take them and make that money back now.

After a long move up, even GU will be coming down sometime. Might as well take another trade seeing as tomorrow will be much more volatile and risky to trade

Took another stab at the Euro since I know what to look for now in the countertrends in one of my other charts, just took another quick 12-14pips or so. Shorted from around 54 ish on the Euro down to 38 ish.

Gosh i love these late post london session trades. I think im not going to bother posting charts or any more posts in this thread or anywhere else and just stick to making pips next week and get heaps of practice before I lose focus again.

Thanks once again to the thread opener for some nice info here, you've been a positive influence to help me making pips finally. Cheers and happy trading ya'all.

WilteredFire, thx for your kind words! I hope this thread helps you to become a better trader!

Good morning!
I'll wait H&Sh formation.
There is div on 3 indies.
Will wait the neck, it will be formed when 38,120,20 MACD cross 0 line.
Will see.

Smth like this

30M looks like xABCD has developed (check out fib lvls)

5M looks like double top is forming with the neckline around 1.2480 area.

For short entry I would like to see MACD < 0, break and retest of neckline with IB and fractal formation on the return move.

For long entry I would like to see price break previous high and retest it.

So basically: short below 1.2480, loong above 1.2540

Regards,
snu

Good morning traders!

Hi, traders!

Here's my EU vision for today!
Break and retest of lower TL = down
Break and retest of upper Tl = Up

I favor upside, since we have divergence and 5 wave pattern to the downside. But we shall see what market will do.

Regrads,
snu.

Not much going on today!

Yep!
Bank holiday in US. That is mabye the reason. Will see some a move I hope.

yeh just had a look at teh calendar. i was reading up that the market is dead whenever there is a bank holiday.

Hello, traders!

We had a nice run up yesterday. I consider this leg to be an XA move with price currently forming the BC leg, I expect the retrace up to 1,2630 area and then run down. So right now I will be looking for long setups and later on I will be looking for shorts!

Again, this is only one of the possible scenarios, price can do whatever, so lets watch and play it according to the setups.

Regards,
snu.

EU H&S model per 5M TF.

We have tripple divergence (between head and left shoulder and between shoulders as well.)

Target according to the model is around 1.2630 area.

EP - on the break of triangle in right shoulder @ 1.2590.

Regards,
snu