5min EUR/USD mini trendline breaks

EUR/USD
5 min chart
25sma
10sma
optional: rsi 9.


10sma below 25sma. Only look for shorts.
10sma above 25sma. Only look for longs.

Short example:
smas have given you a direction. we wait for a pullback. Then wait for a mini trendline break. candle must close beyond the break. Entry would be 1pip from candle that broke trendline.

trade mangement is up to you. What i do is enter 2 lots. I use a fixed 20pip stop loss. my first lot i close at +20 pips. Then i move 2nd lot to break even and trail it for as much as i can. RSI 9 is good on the 5min chart for spotting divergence. I use this to help with exits for my 2nd lot. if i see strong divergence I will close my 2nd lot. sometimes i just close 2nd lot if i happy with amount of pips. This is up to you.

Thats it. Simple. This is something that I have been playing with for ages and seems reasonably successfull. This has been done before in many forms. it nothing exciting or new but it works and hopefully it can help someone who may be struggling to get going with forex. I work strange days and hours so cant be be around all the time so feel free to post what you like and take this wherever you want to. Please be helpfull rather than negative. I have tried out almost all of the systems on forex factory and still enjoy trying out the new ones that pop up. However, this is how i currently trade. There was a very good thread here called flag trading the trend which is pretty much where i have taken this from so credit to that thread.

Goog luck.

Simple and easy.

live trades, very interesting, DO you have any trading times in your system?

I would not take an up trade at this time, considering that London is almost done, it may drift until US

AT last a thread where the creator is posting live trade's..

Well I find I can never get this right when i try and wait for specific times so if i home and trading i will take the set ups. However, I will normally trade 8am ish to 4pmish uk time.

looks like you had a win on that long,

will you exit a trade early if it does not hit your initial 20 pips and divergence begins to show? It appears that EU may be doing this now but your 20 pips have not been hit yet. The 10 SMA is still holding however.

Hi there, Yes i will if it looks dodgy. just thinking about what to do. Think i will prob move to Break Even and see what happens

I love your trendline criteria, first time I hear someone actually have a nice criteria for pulling a trendline for a flag/retrace.

Ok, so we nearly had a quick easy successfull trade. however, things are now not looking so good so i have moved both lots to break even. this is not always the best thing to do as often when i do this i get taken out of a good trade but with the us coming on board direction can often reverse and so a bit of caution is in order

Cheers mate. Hope it helps.

Stop loss on 2nd lot moved up now to lock in 20pips.

Ok, decided to close 2nd lot for +62pips. Yes, price may rise another 500 pips but this is my second good trade of the day and my eyes hurt and it sunny outside so switching the comp off in a sec. I hope this way of entering is of benifit to someone. unfortunately i will not be able to trade until a week tuesday but will check on thread in the eves in case anyone has any questions etc.

WELL done

Very well done. So you had 20 pips on 1 lot, then 62 on a second lot?