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CHOROS System

  • #4,561
  • Mar 25, 2011 1:59pm Mar 25, 2011 1:59pm
Quoting Survivor
Close of that long pin bar at middle. Ideal SL was above the high of that bar. But that was too much for me so i just kept it above high of the candle on left.

This is one the tricks i have learnt elsewhere and they are not part of dance so you can ignore them because they have immense potential to confuse people. IMHO if you are starting out you would do well to stick to rules as per manual.
I agree 100%. Trade this method at first based on the original rules. As you make the trades you will start to see how PA plays an important role. But the first step is to become comfortable with how the basic method works and the rest will start to make sense and hopefully you will have that aha moment that does take you to the next level.
Mark ... Everything you have been told is a LIE
  • #4,562
  • Mar 25, 2011 2:06pm Mar 25, 2011 2:06pm
Quoting TheSwede
Thanks.

I'm really not grasping containment trades yet. Have printed a bunch of charts on paper and spread them on the floor and now i'm just going through them trying to find how it works.
Thats a good process.

The way I see it a constrainment trade is an area of consolidation waiting to break out. The more the MAs hold price in a certain area the better the possible move. Not guaranteed but it seems to work that way.
Mark ... Everything you have been told is a LIE
  • #4,563
  • Mar 25, 2011 2:13pm Mar 25, 2011 2:13pm
Here are a couple of examples of what I think a constrainment area is.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd-8.gif Size: 32 KB
Click to Enlarge Name: gbpusd-9.gif Size: 29 KB
Mark ... Everything you have been told is a LIE
  • #4,564
  • Mar 25, 2011 2:54pm Mar 25, 2011 2:54pm
Quoting spzd
I am far from being an expert with this method, but I think you should only look for trades off the 10 if it is pointing in a 1 or 5 o'clock position. Where you took that trade the 10 was showing a lot of chop.

Also notice where it reversed was at the 21 ema. I know the 21 is not part of this method, but I have found it adds another important area to look at.

Another thing is when the 15M MAs are choppy looking to the 1H TF also helps. The two areas labled A and B were touches off the 21 from the 1H TF.

To the owners of this thread: if using...
thanks for your feedback! sometimes itīs difficult too see a steep angle. if you zoom out to much, so it seems to be steep enough
  • #4,565
  • Mar 25, 2011 2:58pm Mar 25, 2011 2:58pm
Quoting Survivor
Most experienced dancers will be careful with that trade you took. We like to take "first touches" HEre just before your trade price has already touches 10 EMA multiple time. In such cases it is safer to wait for a touch of 35/50. Else one gets a nice PA at 10 EMA one may go for it. Say a nice rejection pin bar at 10 EMA would make me take that one. Without PA i would not take multiple touches of 10.
thanks for you help! Itīs exactly this, what i need as a newbie! Experience from other "Dancers". It helps me very well and things like that i write down for me

cheers

Andreas
  • #4,566
  • Mar 25, 2011 3:20pm Mar 25, 2011 3:20pm
Andreas

Have you looked at the original 'The Dance' thread. It is a great place to start. There are numerous examples in that thread which should help you get a firm grasp of what this method is about. Also make sure you pay attention to what PA does at the various areas. Be patient and in no time it will come to you.

Mark
Mark ... Everything you have been told is a LIE
  • #4,567
  • Mar 25, 2011 3:52pm Mar 25, 2011 3:52pm
Quoting spzd
Andreas

Have you looked at the original 'The Dance' thread. It is a great place to start. There are numerous examples in that thread which should help you get a firm grasp of what this method is about. Also make sure you pay attention to what PA does at the various areas. Be patient and in no time it will come to you.

Mark
yes iīm on the 54. page now... i think the same.. i should pay more attention to the PA too.. iīve printed all the charts from clayīs manuels and i will look at them in the next two days and i will read the original thread to the end! next week i will deal with real time charts and practice, practice and practice and will train with the simulator too i want to master the dance and i will it

cheers

andreas
  • #4,568
  • Mar 25, 2011 4:10pm Mar 25, 2011 4:10pm
Quoting AndreyBecker
yes iīm on the 54. page now... i think the same.. i should pay more attention to the PA too.. iīve printed all the charts from clayīs manuels and i will look at them in the next two days and i will read the original thread to the end! next week i will deal with real time charts and practice, practice and practice and will train with the simulator too i want to master the dance and i will it

cheers

andreas
That's a perfect attitude. The simulator is great practice. Remember it takes time to get good at this business so don't give up and keep that positive attitude.

Enjoy your weekend and Good Trading

Mark
Mark ... Everything you have been told is a LIE
  • #4,569
  • Mar 28, 2011 2:11am Mar 28, 2011 2:11am
is it a valid constrainment on eur/usd h1??
sry if i post so many charts last time, guys. i hope itīs okay for you I absolutely want to see the valid trade opportunities on a live-chart... =)
Here are more than 3 small bars constrained on the 10 ma and the last 2 candles were dojis.. all mas are in the downtrend.

cheers

Andreas
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.gif Size: 32 KB
  • #4,570
  • Mar 28, 2011 2:39am Mar 28, 2011 2:39am
Quoting AndreyBecker
is it a valid constrainment on eur/usd h1??
sry if i post so many charts last time, guys. i hope itīs okay for you I absolutely want to see the valid trade opportunities on a live-chart... =)
Here are more than 3 small bars constrained on the 10 ma and the last 2 candles were dojis.. all mas are in the downtrend.

cheers

Andreas
Hi Andreas,

yes, IMHO, it is a good constrainment trade, worth about 20pips or so...
Here is another good constrainment on the AU
Attached Image (click to enlarge)
Click to Enlarge Name: AU.jpg Size: 89 KB
  • #4,571
  • Mar 28, 2011 3:03am Mar 28, 2011 3:03am
Quoting lunaturtle
Hi Andreas,

yes, IMHO, it is a good constrainment trade, worth about 20pips or so...
Here is another good constrainment on the AU
thanks for you reply! this is already a sense of achievement for me to find a good trade opportunity at the moment i look only on two pairs.. eur/usd and gbp/usd... it is easier for me to understand this strategy :-)

cheers

Andreas
  • #4,572
  • Mar 28, 2011 3:12am Mar 28, 2011 3:12am
Quoting lunaturtle
Hi Andreas,

yes, IMHO, it is a good constrainment trade, worth about 20pips or so...
Here is another good constrainment on the AU

Missed that one by about two bars... but caught a retrace on GU to the H1 10 for a short that netted my three percent target. (Finally managed that two days in a row... let's hope I've turned a corner!)

Aussie has just made a new all-time high, previous one was Friday which passed 23 December's.

Totally unexplored territory... no historical S/R. Interesting to see what happens if it continues!
  • #4,573
  • Mar 28, 2011 3:28am Mar 28, 2011 3:28am
I think is good long trade first TP 1.4100 , stop 1.4050
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1.gif Size: 22 KB
A small profit is better than a big minus...
  • #4,574
  • Mar 28, 2011 3:55am Mar 28, 2011 3:55am
Quoting tulis
I think is good long trade first TP 1.4100 , stop 1.4050
Top of that bundle of bars is constrained by the D1 10, so you have the HTF against you, so be careful with it.

H1 10 is currently giving support, so it may work out.

Attached Image (click to enlarge)
Click to Enlarge Name: 110328-EU HTF.jpg Size: 72 KB
  • #4,575
  • Mar 28, 2011 4:10am Mar 28, 2011 4:10am
Quoting bigtent
Top of that bundle of bars is constrained by the D1 10, so you have the HTF against you, so be careful with it.

H1 10 is currently giving support, so it may work out.

Attachment

I totally agree with you that this is dangerous, but the price can not overcome H1 chart ema 10 so I will reach 1.4100
A small profit is better than a big minus...
  • #4,576
  • Mar 28, 2011 6:25am Mar 28, 2011 6:25am
Seems like there is a vaild containment trade on EUR/USD M15 (Sell)? Do anyone else have different opinion.

/Jonas
  • #4,577
  • Mar 28, 2011 6:33am Mar 28, 2011 6:33am
MA's do look good on this TF. But imho I would watch the confluences of the LTL as well as descent supports & Fib level on 4HR chart.

Quoting TheSwede
Seems like there is a vaild containment trade on EUR/USD M15 (Sell)? Do anyone else have different opinion.

/Jonas
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #4,578
  • Mar 28, 2011 6:40am Mar 28, 2011 6:40am
See what you mean with Fib levels.

Quoting teemo
MA's do look good on this TF. But imho I would watch the confluences of the LTL as well as descent supports & Fib level on 4HR chart.
  • #4,579
  • Mar 28, 2011 6:44am Mar 28, 2011 6:44am
hey guys, would you take this touch trade of 10 on h1 (gbp/usd)? the problem is here, that on the daily chart you have a strong support level and on the h1 we have a reversal signal on the doji at th RN. Is it a significant signal? But on the other hand we have a good short signal because of the confirmation of the 35/50 on the m15.. What would you do in this situation?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.gif Size: 64 KB
  • #4,580
  • Mar 28, 2011 6:53am Mar 28, 2011 6:53am
Check the M15 time frame. I think there PA is a little blit too blury for taking that thouchtrade. But I'm no expert.

Quoting AndreyBecker
hey guys, would you take this touch trade of 10 on h1 (gbp/usd)? the problem is here, that on the daily chart you have a strong support level and on the h1 we have a reversal signal on the doji at th RN. Is it a significant signal? But on the other hand we have a good short signal because of the confirmation of the 35/50 on the m15.. What would you do in this situation?
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