Effective 5M intraday trading

Hello, fellow traders! We had couple of nice possibilities yesterday, sorry I was not posting them right away - I got lazy. They're explained on pics 1 and 2.

Pic 3 shows EU for today: currently I do not see any setups or patterns, so I do nothing. I wait for price break out from both the triangle and trading range and then I'll look for setup possibilities.

Notice how we're currently in a trading range bettween right shoulder and left neck. Moves happen when we break out from it. While in it, depending on its width, you could scalp on lower TF (2 or 3 min), so remember allways to set range boundaries for yourself at the beginning of each trading day. This will help you know if you're in a trend or in a sideways movement.

Regards,

snu

1. 15M MACD turned to negative territory - start analizing market!

15M TF: We reached the trendline so the move up is possible - In order for me to go long I would like to see PA form local reversal model on 5M (inverse H&S or double bottom), then I'll wait for break of 50 EMA and neckline, retest and entry to the upside.

5M TF: H&S is developing. Neckline is at the pivot and got broken, I Will wait for right shoulder formation and enter short if I get a setup to the downside later on. I will wait for semafor on 5M TF at the top.

1H TF: Price action looks like we're about to begin wave 4 decline, targets are 38% and 50% fib of wave 3. Nice divergence has formed on MACD plus we reached strong S&R lvl around 1.2700 area.

Regards,
snu.

Hello, traders!

Here are some setups I had today.

1. This one was during asia but I still took it since expected EU to go down starting friday (1H TF gave me a signal to the downside). Pic showes the setup. I got out manually with 38 pips as soon as woke up.

2. Almost identical pullback setup. Got out with +15.

Regards,
snu.

Aiming for 15-20 pips

Regards,
snu

Out with +10, since 1.2587 looks like good Resistance lvl.

Regards,
snu

Looks like H&S within bigger H&S. More up movement?

hi

i dont get this. can you explain it in simple terms please ?

how do i set up the indicators on igindex platform ? is GMT the same as british standard time ?

I like your first pullback system. It's simple and very profitable. This is very similar to how Chicago Floor Traders trade. In a trending market, buy the dips and sell the rallies.

The first pullback system is the best!!! In a trending market I buy/sell when stochs are overbought/oversold according to direction (it doesn't happen often for the stochs to stay overbought or oversold in a trending market ).

I also use sweetspot indicators that basically show the psychological levels of 0,25,50,75,100.

Nothing wrong with this system, but there is just too much checking for this and that for me. Your first system is the best and thanks for sharing it. It's going to get me my first Ferrari Yay!!!

how has this system been performing for everyone ? can someone post results for the past 2 months or so ?


regards

Hello there, is the thread still active? Can anybody tell about the experience with the system for now ?

Thx