CHOROS System

hey Mr constrainment
actually u could have played that bounce just mindful of RN 1.5600 and HTF MAs above them. just in and out quickly

PS: Btw i see that price is constrained by H1 10 EMA, any thoughts?

Exactly the same trade as my earlier chart. Decisive move through the 50/35 and then a retrace to the 10. I could have closed this for a quick +10 but the HTFs are all pointing down and I'm already at my daily target, so I'll just hold onto it and see what happens...

edit: Only minutes later closed at BE. Guess I'll stick to closing early!

Hi People,

could this chart be worth for a look ?

Possible First 35 touch on H1 ?

Possible MA10 on H4 ?

There is the Daily Pivot there and even a previous S/R level...

Hmmm...eyes open for a short, let's see.



PS: Hi Willkohsg, of course on of the 3 winnings trade to the daily target is exactly like your one (but for les pips)

hi whenever,
it'll definitely bounce off HTF MAs.
question now is will it test all before going DOWN again?

I see the levels as:
1)Daily Pivot 1.5618
2)H1 35 SMA- 1.5624
3)H4 10 EMA - 1.5627
4) RN 1.5650
5) H1 50 EMA -1.5653

might not test RN but u never know, safest best is short at 1.5653 the highest level

another idea:
why not long from current price to daily pivot as exit?

hey whenever we're close to daily pivot now, i'm gg to short on a demo account once it hits that level or other HTF MAs

update:short at 1.5622, out at 1.5605

cya guys tmr ~ have a nice day~

Hi Will,

Could I ever had missed that ?

+18 on this side of the World too.

(+60 totally today...Mamma Mia ! Need to move on real as soon as the cash needed is available...)

wow it's quiet in here...has everyone gone for a holiday?

I'm waiting for touch of SMA35 near RN for long

Hi , Natnimrey ,

I entered long at touch of 10 MA on 15 min E/U and ended up with -15 .
Can u help me to find out its reason ?

Baavgai

Hi guys,
not trading anymore for the month, taking a break but occasionally popping by

i see that EURUSD has tested 10 MA M15 several times today and there's tons of HTF MAs below that,
so u would expect price to test RN AT LEAST before making a strong bounce up

Thanks for the input will...yeah 10 EMA has been tested too much..wouldn't mess with it...

I got stopped out at -15...probably should have respected the 1H TF more Price is nearing weekly pivot tho:

Powerful H1 constrainment.

Hi guys, I'm back after "laying low" and taking a break from trading for a while.

For the past 2 weeks or so, I've been successfully trading the 1 or 2 hours BEFORE the NY market opens (around 5-6:30am Houston time). It seems that during this time, the London market has more often than not already established a nice trend that I can jump in on and ride for an easy 20 or 30 pips. The trends tend to be nicely formed and are usually consistent with the hourly and daily charts making entry decisions pretty easy.

However, once the NY market opens, things really get hectic and it's not long before it's difficult to tell which way the market is headed. I end up looking at trends on the 15 min that run counter to the the hourly and daily, trends with very short durations, and trends that are not really trends at all. This makes trading pretty much a random shot in the dark.

It's like swimming in a quiet river or stream. Before the NY market opens, the "water" is pretty calm. You can tell which way the current is flowing and even see which way the fish are swimming. It's pretty easy to simply float along in the direction of the trend.

But the NY market opening is like a rowdy gang of Americans "crashing" the party and disturbing the prevailing peace and quiet. They start splashing and chasing each other around, kicking and yelling and stirring things up so much that before you know it, the market "waters" are so murky you can't tell which way is up!

I know that Clay teaches to only trade during the overlap of the London and NY markets but it seems that the NY market, at least lately, really adds a lot of "static" making it difficult for me to make a buck.

Anyway, just an observation.

The other major change I've made over the past few months is to simplify my trading. I finally deleted every single chart on my trading platform except the GBPUSD. This is the only pair I follow and is the only pair I trade. Know what? Since I've decided to focus on only one pair, I've begun to "know it" like never before. I'm starting to better see how it moves and how it behaves. It's really improved my trading.

Well, this is Friday and since I've already racked up over 50 pips in the major down movements this morning before the NY opened, I'm done for today. Hope every one that follows this thread has a Merry Christmas and a profitable New Year!

Hiram

Kostas noted in his recent summary that his best trades were between London and New York open. What you are saying seems to confirm that. Maybe that means that one could do well by trading just in that period?

Another interesting time on GBPUSD is just after New York closes. Often, there seems to be a reversal right around that time, and then price just seems to meander in the direction of the reversal until London open.

Today offered a perfect example of what I was saying about the London close. There was a strong downtrend from just before NY open all the way to London close. The last 15 minutes before the close, there was a very nice hammer, followed by a decent reversal and uptrend until the close of the week.

This isn't Dance, but it's worth noticing.

So wow, loaded the 3 basic MA's to eur/usd15m and it looked so perfect. After having done a lot of reading, manuals and both threads, i looked for the trade setups on the screen and it was just beautiful.

Looking forward to see if i get it or just got the hindsight goggles on!

I was watching her but left for the day before she went down, missing the entire move. I also got irritated about too much noise there in chart. Anyway, Nice to see someone catching that one.

Good day all...GU downtrend seems to be nearing daily pivot


and I noticed a little range in GBPCHF between RN and daily pivot...constrainment?


Any thoughts for the young padawan guys?

Hi,

I'm looking at the system very closely the last two weeks I've read the pdf and I'm wondering how is this working with the EU/US couple and what are the times of trading?

Thank you
Minos

Welcome Minos. EURUSD is fine.
About timings, as per manual you have to trade LDN NY overlap. However many have used the system successfull in different times. Some have found it particularly good just before london and NY open.
I personally ignore timing rules and trade whenever is see a good trend- steep parallel 35/50. When 35/50 is wide and in soup i pass. I find that when i have a nice trend the trades work. Further, good trends often happen when major markets are open.
Also be careful to judge any system this time of the year. MArket will remain very illiquid till jan mid and can see many whipsaws.

Hmm dunno if this counts as a dance trade but I took a quick 15 in the range when price crossed 50 EMA and touched RN at 1.505...does that count as a constrainment trade?


I changed my mind about GU seeing how it was constantly making higher lows and didn't enter, but 50 EMA seems to be holding.

sigh its quiet in here