CHOROS Interactive | Page 96 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

CHOROS System 16,719 replies

Money management for CHOROS and other strategies 2 replies

I want to pay off my mortgage asap with Choros 181 replies

3-9% a day with CHOROS? 63 replies

Interactive Brokers and Metatrader 0 replies

Attachments: CHOROS Interactive
Exit Attachments

CHOROS Interactive

  • #1,901
  • Oct 26, 2011 2:17am Oct 26, 2011 2:17am
AJ 15M 35/50, WP, 1H 10EMA. Short.

EDIT: The WP was in the middle of 35/50 15M however price never got to the WP and turn around so I decide to let the trade go.
Riding the order flow
  • #1,902
  • Oct 26, 2011 4:07am Oct 26, 2011 4:07am
GU short - M15 10 touch, 1.6000 RN, daily pivot
Luck occurs when preparation meets with opportunity.
  • #1,903
  • Oct 26, 2011 4:58am Oct 26, 2011 4:58am
Quoting AlienFrog
GU short - M15 10 touch, 1.6000 RN, daily pivot
Good call. I am out for 10 pips. There is a H1 50 right under, so I decide to take quick profit.
Riding the order flow
  • #1,904
  • Oct 26, 2011 5:10am Oct 26, 2011 5:10am
Quoting Binyamin
Good call. I am out for 10 pips. There is a H1 50 right under, so I decide to take quick profit.
Glad you got some pips!

I had a bad entry - eager beaver, couldn't be patient!

Entered too soon, below the 1.6000. I was sweating it up until news time but that 5:45am bar shot down in the last 2 mins of the bar and I got out with +4.
Luck occurs when preparation meets with opportunity.
  • #1,905
  • Oct 26, 2011 7:45am Oct 26, 2011 7:45am
GBPUSD to SHORT

Retrace to H1 10 in confluence with M15 35/50, DP and RN
  • #1,906
  • Edited 8:09am Oct 26, 2011 7:58am | Edited 8:09am
Haydel great call, i managed to get in at 1,5997 with a SL of 13 pips at 1.6010. Let's see what will happen ...

P.S. it seems that i got in a little earlier, i could have got a little better price of just above 1.6000, let's see what will happen later

P.S.2 It hit my SL of 13 pips at 1.6010, despite this, the opportunity was very good
Better to lose opportunity, rather than capital !
  • #1,907
  • Oct 26, 2011 8:05am Oct 26, 2011 8:05am
Quoting Haydel
GBPUSD to SHORT

Retrace to H1 10 in confluence with M15 35/50, DP and RN
Just out of interest, where is your stop (I've been hopeless with these lately)
  • #1,908
  • Oct 26, 2011 8:11am Oct 26, 2011 8:11am
Quoting metrilbg
Haydel great call, i managed to get in at 1,5997 with a SL of 13 pips at 1.6010. Let's see what will happen ...

P.S. it seems that i got in a little earlier, i could have got a little better price of just above 1.6000, let's see what will happen later

P.S.2 It hit my SL of 13 pips at 1.6010, despite this, the opportunity was very good
Mine was around there... just got taken out.... (It's around the M15 62MA)

I think it would've been better to wait for better M5 confirmation, I entered after the spinning top - 4th candle back.... No good
  • #1,909
  • Oct 26, 2011 8:17am Oct 26, 2011 8:17am
well the call was great, but there has to be some bad trades, right? -1% for today. Despite this, this was a great trade.

What a bang after the MA's Eclayf mentioned something a breakthrough, taking the opposite position. This would be a good time for this strategy
Better to lose opportunity, rather than capital !
  • #1,910
  • Oct 26, 2011 8:18am Oct 26, 2011 8:18am
In my view, there never was an M5 confirmation. I went long at 1.6010 and it is working out well.
Quoting bigtent
Mine was around there... just got taken out.... (It's around the M15 62MA)

I think it would've been better to wait for better M5 confirmation, I entered after the spinning top - 4th candle back.... No good
  • #1,911
  • Oct 26, 2011 8:19am Oct 26, 2011 8:19am
Quoting Haydel
GBPUSD to SHORT

Retrace to H1 10 in confluence with M15 35/50, DP and RN
I was watching this too and took the trade. Got a good entry right on the RN. When it went up I was so confident in the pattern that I went short again when it hit the M15 35. Got stopped out twice!

Bad day, I quit. Until tomorrow, that is.
Luck occurs when preparation meets with opportunity.
  • #1,912
  • Oct 26, 2011 8:24am Oct 26, 2011 8:24am
Quoting cmeade2
In my view, there never was an M5 confirmation. I went long at 1.6010 and it is working out well.
M5 confirmation? I've seen using M5 for fine tuning entry but not for M15 or H1 confirmation.

Would you mind explaining please? Sorry if you've talked about this previously and I missed it.
Luck occurs when preparation meets with opportunity.
  • #1,913
  • Oct 26, 2011 8:30am Oct 26, 2011 8:30am
I look for M5 confirmation of the M15 in terms of price action. In this case, as noted in previous posts there was a strong expectation that the price would come up to the 10/35 and RN and retreat from there. The expectation of a reversal was slightly supported by the trend on the M15 but not on the H1.

In a case like this I look for price action on the M5 that indicates a strong area of resistance has been hit and rejected and that a reversal is likely to come soon. In this case it would look like a pin bar with a long upward wick that would touch an important MA on the M5. Given where the price was, this would either be the SMA 200 or the EMA 200. On the M5 the price did show some resistance at the EMA 200 for 1 bar, but then it broke above and started playing with the SMA 200. And then it finally closed above the SMA 200. When that happened, I said it's not going down, it's going up.

Later in the day I will post some charts with the PA I am talking about.

Quoting AlienFrog
M5 confirmation? I've seen using M5 for fine tuning entry but not for M15 or H1 confirmation.

Would you mind explaining please? Sorry if you've talked about this previously and I missed it.
  • #1,914
  • Oct 26, 2011 8:43am Oct 26, 2011 8:43am
Quoting AlienFrog
I was watching this too and took the trade. Got a good entry right on the RN. When it went up I was so confident in the pattern that I went short again when it hit the M15 35. Got stopped out twice!

Bad day, I quit. Until tomorrow, that is.
Alien, don't worry. It was a good stong aera to short.

My thought is that the green momentum is very big, look the last big green bar before E50, S35 and look the little red bar at the end of the down move. The momentum is clearky green.

I hate to play against momentum, so i had'nt play this short.

However, i see that Kostas had several times playing against the momentum and had big winners.

I think the big green momentum weaken the trade a little, but it was a good play.

EG was better bcs with the green momentum. Look the chart

It's always better to play with the trend and with the momentum, the probability is higher, but it's a more conservative approach and so you have less opportunity.

But i repeat, i think your play was a good choros play, just sometimes it's a loss
Attached Image (click to enlarge)
Click to Enlarge Name: eg.jpg Size: 102 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #1,915
  • Oct 26, 2011 8:47am Oct 26, 2011 8:47am
Quoting cmeade2
I look for M5 confirmation of the M15 in terms of price action. In this case, ...
That makes sense. Watching on the lower TF for price to at least hesitate at the projected reversal point. When it blew straight through 1.6000, already past the DP, we should have suspected a flaw in our analysis.

I was looking for a plain old M15 35/50 touch, and the DP and RN confluence made it look strong.

Good call, cmeade! Thanks for the explanation!
Luck occurs when preparation meets with opportunity.
  • #1,916
  • Oct 26, 2011 8:52am Oct 26, 2011 8:52am
OK here is an example of what I am talking about. It's from the EU at 10:00 on Oct 24. On the 15 M the price comes down to the 10 EMA and might look like a classic two bar retrace long trade, after the bar marked with an arrow. At the same time, however, on the 5M you see that the price has come down below the 14 EMA and you are starting to get wicks from the underside, indicating resistance to a downward sloping line.

To me, this is a clear signal to go short, rather than the "knee jerk" on the 15M which might say to go long.
Attached File(s)
File Type: pdf eu15.pdf   23 KB | 334 downloads
File Type: pdf eu5.pdf   33 KB | 266 downloads
  • #1,917
  • Oct 26, 2011 8:58am Oct 26, 2011 8:58am
Quoting boubafx
But i repeat, i think your play was a good choros play, just sometimes it's a loss
Thanks, Bouba. I was looking at it as an M15 35/50 touch - steep MAs, confluence with DP and RN, quick retrace after good down move, first touch. The big candles did bother me a little, but I decided it looked like a good setup anyway.

Touch trades by nature look like a dead end bar at the moment it touches the MA. You have faith in the setup and other factors at the moment you enter.

As you say, sometimes it looks good and it just goes against you.

Hope you got some pips off the EG 35/50 touch!
Luck occurs when preparation meets with opportunity.
  • #1,918
  • Oct 26, 2011 9:14am Oct 26, 2011 9:14am
EU:
Looks like a short trend developing. Already got +15p from M5 5 bounce. Next I am looking for M5 12 and then M15 10.
  • #1,919
  • Oct 26, 2011 9:18am Oct 26, 2011 9:18am
Quoting Haydel
GBPUSD to SHORT

Retrace to H1 10 in confluence with M15 35/50, DP and RN
I made a big mistake with this call, and this one is the second time that this same thing happens to me this month. I hope that we can learn from this.

It was very simple and no big analysis in necessary.

In GBPUSD pair, 62 EMA in H1 time frame is extremely strong!!! Several times I made great trades form it, but for some reason I completely ignored it today .

The price was bouncing form H1 62 EMA (Perfect bounce by the book), so shorting near that was not a good idea.

Sorry for that call, I lost money too.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H1 2011-10-26.png Size: 24 KB
  • #1,920
  • Oct 26, 2011 9:20am Oct 26, 2011 9:20am
On 4h EU, be care of 35SMA touch (1.3850 RN & DS1).
Dancing with Candlesticks
1 trader viewing now