The Force 5min system | Page 153 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Intresting finding or simply statistic: 5min candel 14 replies

5min Bollinger breakout system 42 replies

My journal on The Force 5min system 5 replies

Backtest Data Timeframe > 1min, 5min necessary? 2 replies

Attachments: The Force 5min system
Exit Attachments

The Force 5min system

  • #3,041
  • Jul 25, 2010 8:14am Jul 25, 2010 8:14am
Quoting Forexmist
Hi Rufus,

Forexjedi made a comment exactly like you about the monthly pivot ( and you about the weekly). I would like to quote post 128:

"Special note regarding todays charts on the Eur/Usd. I would like to attribute today unstable price action patters limiting trades on my system to the price rallies around the monthly support 3 at 1.2728. Theres a battle here between the market makers and high rollers. The first signal was the unstable price action that started right around 12am est. I like to stay away from the market around monthly supports...

Hi Forexmist

I like 20 pips minimum of room to areas of strong S/R. I prefer even more (40). I want to be able to have my stop at break even when those areas get hit. Pivots, "00". price pivots etc.

When one does get hit and it looks like price will blow out of there in the opposite direction. I will wait for a retest of the area or a pull back. This example on friday gave two retests of the area with Force signals to follow.

The danger here is that you are now going on a move against the trend. So you need to be watchful of things. This turned when it hit 6 levels of resistance.

1: Monthly pivot
2: Daily pivot
3: Weekly pivot
4: "00"
5: 61.8 fib
6: PPA that goes back to July 22

It was like price hit 6 stoplights all red.

Remember s/r is like stoplights. Sometimes they are red, green or yellow with price at times zooming through.

Take care

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,042
  • Jul 25, 2010 8:15am Jul 25, 2010 8:15am
Quoting Rufus
Hi Forexmist

I like 20 pips minimum of room to areas of strong S/R. I prefer even more (40). I want to be able to have my stop at break even when those areas get hit. Pivots, "00". price pivots etc.

When one does get hit and it looks like price will blow out of there in the opposite direction. I will wait for a retest of the area or a pull back. This example on friday gave two retests of the area with Force signals to follow.

The danger here is that you are now going on a move against the trend. So you need to be watchful of things. This...
I forgot the charts


Rufus
Attached Image(s) (click to enlarge)
Click to Enlarge Name: oivot.gif Size: 24 KB
Click to Enlarge Name: oivot 5 levels of resistance.gif Size: 25 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,043
  • Jul 25, 2010 8:18am Jul 25, 2010 8:18am
Quoting Forexmist
Hi Rufus,

Forexjedi made a comment exactly like you about the monthly pivot ( and you about the weekly). I would like to quote post 128:

"Special note regarding todays charts on the Eur/Usd. I would like to attribute today unstable price action patters limiting trades on my system to the price rallies around the monthly support 3 at 1.2728. Theres a battle here between the market makers and high rollers. The first signal was the unstable price action that started right around 12am est. I like to stay away from the market around monthly supports...


By the way.

Thanks for the compliment. Tying what I posted to something FJ said is an honour.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,044
  • Jul 25, 2010 8:27am Jul 25, 2010 8:27am
This one shows the 6 levels better.

Rufus
Attached Image (click to enlarge)
Click to Enlarge Name: oivot 5 levels of resistance.jpg Size: 121 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,045
  • Jul 25, 2010 10:30am Jul 25, 2010 10:30am
Is the work done Rufus? This week only trading?

It's a lucky guess when you are in (short / long) while approaching all those stoplights. The next time I will wait for a "pull back" or "retest".

When the work is done maybe you can answer some three questions more:
- how do you use fibonacci (see chart)?
- what do you mean by "00"?
- and do you also use vforce (Jedi made some study of this system; bye the way it would be nice if Jedi could reinforce this thread again).

Greeeeetzzz
Attached Image (click to enlarge)
Click to Enlarge Name: foto7.gif Size: 31 KB
  • #3,046
  • Jul 25, 2010 9:22pm Jul 25, 2010 9:22pm
Quoting Forexmist
Is the work done Rufus? This week only trading?

It's a lucky guess when you are in (short / long) while approaching all those stoplights. The next time I will wait for a "pull back" or "retest".

When the work is done maybe you can answer some three questions more:
- how do you use fibonacci (see chart)?
- what do you mean by "00"?
- and do you also use vforce (Jedi made some study of this system; bye the way it would be nice if Jedi could reinforce this thread again).

Greeeeetzzz

Picture should answer some of the questions.

"00" is a strong psycological barrier

I will pull fibs in the direction of the move from high to low of a trading day.

Fibs on other major moves should be looked at as well.

I will also pull a fib on any completed move over 50 pips. Just to get a "feal" for where a retracement could go to.

I am a confesed fibaholic. If it moves or has a shape I will throw a fib on it. I use fib ratios in my work as well.

I don't use Vforce. IMHO it works for long term trending markets. But if I am using the Force 5 correctly I will be in the position anyway.

The best thing to do is keep things simple. I use fibs to further validate a S/R zone. You can easily get bogged just in the study of fibonacci ratios. They are interesting but you don't want to chew on to much at once. There are many traders who are successful who don't use fibs. I like them obviously and use them everywhere.

As for trading for me. It will start up the beginning of the next trading week.

Have fun with it. The forex market stimulates my brain to study everything from the history of money to the Bank For International Settelments.

Ask all the questions you want. makes me think through what I do.

Rufus
Attached Image (click to enlarge)
Click to Enlarge Name: oivot 5 levels of resistance.jpg Size: 113 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,047
  • Jul 26, 2010 3:11pm Jul 26, 2010 3:11pm
We are almost above the daily pivot r/s and we are heading towards the fib. 38.2. What do you guy's think?

We are still in a up trend and above us is the weekly pivot and the fib. 38.2. Do we have to practise 'the waiting game'?

greetz
  • #3,048
  • Jul 26, 2010 7:54pm Jul 26, 2010 7:54pm
I'd wait for Asian(first 2 hours) or go to London and see what happens.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,049
  • Jul 27, 2010 12:54pm Jul 27, 2010 12:54pm
How was the trading day?
  • #3,050
  • Jul 28, 2010 6:29am Jul 28, 2010 6:29am
I nailed a good one but it was not Force 5. I only put F5 trades here.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,051
  • Jul 30, 2010 2:25pm Jul 30, 2010 2:25pm
In the force advanced (post 238) Forexjedi speaks about: "When the price approaches a major or minor support or resistance we wait for the price to fail to clear it".

I find it hard to find the right entry. When is the right time? See the chart...
Attached Image (click to enlarge)
Click to Enlarge Name: foto9.gif Size: 60 KB
  • #3,052
  • Jul 30, 2010 3:48pm Jul 30, 2010 3:48pm
Hey Forexmist,
Just checking in to see what’s going on, just finished week one of vacation and getting ready for week 2!
From what I can see just looking at your chart here is what I think I would have done.
Trade scenario:
A: I would have taken it. I like the PA, it was a break out of a range with a valid set up. I would have been a little worried cause the stochs are pretty darn close to the overbought area. Would have trailed my stop loss very aggressively in this area. I think the hammer bar would have scared me out of the trade and I would have take what I could have taken.
B: I like also for a trade but not totally cause of the Force system. I see in trade A it went up and it stalled out just about the former Resistance and the resistance formed support. Then the stochs went to overbought, a switch in the MACD, 5 ema cross over and a nice RR.
C: sign of continuation for certain but would not take something like that if I was not in the market.
D: would never trade this one. Stochs are up, in the overbought area, very high look at resistance right in front of it. Doesn’t look good.
E: This is a pretty set up. I like the move I see from Trade C on your chart. A little upswing, then down and a little move back up to the area of R again. After that you see two bars that show indecision in the market followed up by a hammer bar and the bar after that is a trigger. The only thing that would concern me about this is the stochs. I would like to think I would have taken it live.
F: I would not have traded this, it’s not much going on there that I like. Looks too choppy for my taste.
G: Looks a little too late for me, maybe a few bars earlier. It looks good looking at it in retrospect but I don’t know if I would have made that trade doing it live, probably would have missed it.
H: This trade is SEXY!!!!!!!!!!! Third time the price went into an area of R, all the force signals are lined up nice and pretty, with great price action. This is an A trade in my opinion. You have a little pull back place SL at the tip of that, it’s in profit and gives some serious room to see if this could run.
Hope this helps! Don't go looking at the expert stuff yet, your not there. look at S/R, pivots, and the Big Round Numbers (BRN) and see how it places off of that.
Take care everyone and I will have some more fun at the beach for all of you next week! It’s a dam shame, I’m going to have to buy some more beer to get though the weekend!
A woman drove me to drink, and I forgot to thank her
  • #3,053
  • Jul 30, 2010 9:41pm Jul 30, 2010 9:41pm
Hey Simple have one on me.

I am gearing up to get back into the swing of things.

See ya around the forum

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,054
  • Aug 1, 2010 9:23am Aug 1, 2010 9:23am
Just found this thread. All in all a good strategy. Will add it to my arsenal.
Need a Profitable Trading System? --> PM me.
  • #3,055
  • Aug 1, 2010 10:40am Aug 1, 2010 10:40am
Quoting Forexsetups
Just found this thread. All in all a good strategy. Will add it to my arsenal.
It will add.

This is not a casual strategy where you take every buy and sell signal. This signals have to be taken off of S/R etc. Also durring the correct market sessions etc.

It will put piops in your pockets if done correctly. Study the thread for that, ity is a goldmine on price action.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,056
  • Aug 1, 2010 12:49pm Aug 1, 2010 12:49pm
ALso have one on me Simple, cheers!
  • #3,057
  • Aug 2, 2010 2:35pm Aug 2, 2010 2:35pm
There was today in my opinion one very good force moment (see 5 min chart). The market was caught in a strong range of s/r. This range became broken around 12.30 GMT. It was a strong upward trend (see 15 min chart). We are still following the overall up-trend (1 hour and 1 day).

The EMA 5 had a wide angle; the MACD was in a up-trend and approaching the 0-line; and there was a strong bull candle above the r/s (5 min chart).
Greetzzz
Attached Image(s) (click to enlarge)
Click to Enlarge Name: foto10.gif Size: 29 KB
Click to Enlarge Name: foto11.gif Size: 28 KB
  • #3,058
  • Aug 2, 2010 2:48pm Aug 2, 2010 2:48pm
Quoting Forexmist
There was today in my opinion one very good force moment (see 5 min chart). The market was caught in a strong range of s/r. This range became broken around 12.30 GMT. It was a strong upward trend (see 15 min chart). We are still following the overall up-trend (1 hour and 1 day).

The EMA 5 had a wide angle; the MACD was in a up-trend and approaching the 0-line; and there was a strong bull candle above the r/s (5 min chart).
Greetzzz
It is a thing of beauty when it works. Then you get a ride with the bank.



Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,059
  • Aug 5, 2010 2:31am Aug 5, 2010 2:31am
I went short at around 08.20 (GMT+2) and did 12 pips, i wasn't very convinced, i thought it had more energy down.

Honestly, I might have made a mistake since PA was close to MS1 and Week_R1 .... so not best situation.

We'll see with the ECB decision what happens.
Lorenzo
  • #3,060
  • Aug 5, 2010 10:17am Aug 5, 2010 10:17am
Quoting lorbax
I went short at around 08.20 (GMT+2) and did 12 pips, i wasn't very convinced, i thought it had more energy down.

Honestly, I might have made a mistake since PA was close to MS1 and Week_R1 .... so not best situation.

We'll see with the ECB decision what happens.
I am thinking you entered where I have marked. It was a risky one but worth a shot. The trend was slightly down.... I would have left it alone. The chart had been so range bound, with a lot of pivots above and bellow. I like to get a direction established.

Another thing I like is to get an idea of the room I have for a position to move. Lately 40- 60 pips of space to the next S/R area is what I like to take a position. This gets it well into profit before that area gets hit. So if pivots of unknown strength are in the way I am very cautious of PA as it gets close to these.

What concerns me is how you are managing your position. ( If I have your entry right) Why only 12 pips. The total move was over 30. Did you take 1/2 off at 10? Move stop to BE at 20? I guess if you were taken out at 20 your average gain would be about 12, which is right.

Position management is so important. It keeps fear and greed from entering the picture. I trade pretty conservatively and like predetermined exit points. I also like watching trends with my position on. If trend breaks (15m) I will take most off, if not all.

So anyway I just wanted to make sure you were putting targets in place and managing your stop loss.

It is a tough market right now. Trends are changing with each wild swing. Next week things should stabilize with the completion of NFP week.

Many pips to you.

Rufus
Attached Image (click to enlarge)
Click to Enlarge Name: 8. 4 force.jpg Size: 83 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
0 traders viewing now