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The 5 minute TF S&R trading system

  • #21
  • Nov 7, 2011 10:45am Nov 7, 2011 10:45am
Are ther any questions to these trade setups?
  • #22
  • Nov 7, 2011 10:51am Nov 7, 2011 10:51am
here is a trade i had a win on earlier today and it came back to that same support area and i am just about at target
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  • #23
  • Nov 7, 2011 11:11am Nov 7, 2011 11:11am
as yet another 2b pattern which is approaching target
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  • #24
  • Nov 7, 2011 12:03pm Nov 7, 2011 12:03pm
Quoting fxpivots
Are ther any questions to these trade setups?
Dont really trade the 5min - nothing less than the 4h but will look into this as the simplicity intrigues me. Luckily there are only 2 pages to read. Will come back to you if there are any questions

Olu
If you think you can or cannot do it you are correct
  • #25
  • Nov 7, 2011 1:35pm Nov 7, 2011 1:35pm
basic rules for any time frame: 2b trades take first poke bar as setup bar enter 1 pip above or below, target is size of bar stop is top or low.Also if we get a second poke bar take that one if we get a third one let it go. Also there must be divergence to confirm it. Next look for 123 pattern wait for point 2 to be broken then wait for 2 bars to close above or below point 2 without touching point 2 then have order waiting to enter when price comes back. You can do it also with broken 123 (2b)s. Look at post 1 for charts.
  • #26
  • Nov 7, 2011 1:55pm Nov 7, 2011 1:55pm
heres a chart of a resent setup. Basicly when the HH HL or the LL LH stops the last lower high or high low become the line of demarcation to reverse the trend and its where resistence turns to support or visa versa.
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  • #27
  • Nov 7, 2011 2:34pm Nov 7, 2011 2:34pm
Quoting fxpivots
heres a chart of a resent setup. Basicly when the HH HL or the LL LH stops the last lower high or high low become the line of demarcation to reverse the trend and its where resistence turns to support or visa versa.
Dear
would you please summarize the trading rule(s)step by step as reference post or provide a pdf file as trading tutorial?
thank you in advance
  • #28
  • Nov 7, 2011 3:14pm Nov 7, 2011 3:14pm
with all the charts i posted you still want a pdf come on look at charts
  • #29
  • Nov 7, 2011 3:18pm Nov 7, 2011 3:18pm
oh my god!
tnx dude
  • #30
  • Nov 7, 2011 3:40pm Nov 7, 2011 3:40pm
look how many trades i am posting just for today here is 2 more
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  • #31
  • Nov 7, 2011 3:53pm Nov 7, 2011 3:53pm
if you are wondering if this works with odd pairs heres 2 charts with audchf
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  • #32
  • Nov 7, 2011 8:59pm Nov 7, 2011 8:59pm
these 2b setups happen all day long
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  • #33
  • Nov 8, 2011 9:36am Nov 8, 2011 9:36am
Hi Fxpivots..

Would this be considered a valid 2b set up? Wasn't sure how far point 3 could move above point 1 before it would be an invalid set up. I guess you can take the break of point 2 or wait until point 2 is retested to enter..correct?
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  • #34
  • Edited 12:06pm Nov 8, 2011 9:36am | Edited 12:06pm
1st live trade w/ ur method. ill update later..

frank

*stopped out +12
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  • #35
  • Nov 8, 2011 9:57am Nov 8, 2011 9:57am
Here is my follow up on the EUR. I took the short when price came back up to test point 2 nice 10 pip trade.
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  • #36
  • Nov 8, 2011 11:04am Nov 8, 2011 11:04am
when looking for 2b's u want to have a desent pullback at least 2 candles so it forms this V shape point 2 can't be more than 15 pips from poke bar if it is it is still treading let it go. You also must have divergence to confirm 2b setup
  • #37
  • Nov 8, 2011 11:58am Nov 8, 2011 11:58am
Quoting fxpivots
when looking for 2b's u want to have a desent pullback at least 2 candles so it forms this V shape point 2 can't be more than 15 pips from poke bar if it is it is still treading let it go. You also must have divergence to confirm 2b setup
Fxpivots, i think you will need a zigzag indicator, to help seen the V shape more clearly

Best regards,
Jin Shan
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #38
  • Nov 8, 2011 1:20pm Nov 8, 2011 1:20pm
Quoting fxpivots
when looking for 2b's u want to have a desent pullback at least 2 candles so it forms this V shape point 2 can't be more than 15 pips from poke bar if it is it is still treading let it go. You also must have divergence to confirm 2b setup
would you consider using RSX over RSI to filter noise?
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  • #39
  • Nov 8, 2011 2:45pm Nov 8, 2011 2:45pm
Have I described the 2b pattern correctly? Poke bar within 15 pips of first low and only one candle formed below poke bar. We also have divergence. Entry on break of point 2 and after 2 bars clear point 2 we can re-enter on a retest of point 2.
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  • #40
  • Nov 8, 2011 3:23pm Nov 8, 2011 3:23pm
Quoting fxpivots
heres a chart of a resent setup. Basicly when the HH HL or the LL LH stops the last lower high or high low become the line of demarcation to reverse the trend and its where resistence turns to support or visa versa.
On this chart it appears there is divergence on the 2 lows.
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