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CHOROS System

  • #7,641
  • Jul 5, 2012 11:43am Jul 5, 2012 11:43am
Could someone explain, why this EURUSD touch trade failed ? I entered because I saw on M5 double top and large bearish, engulfing candle. Thank you.

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  • #7,642
  • Jul 5, 2012 12:51pm Jul 5, 2012 12:51pm
Quoting 2121
Could someone explain, why this EURUSD touch trade failed ? I entered because I saw on M5 double top and large bearish, engulfing candle. Thank you.
Hey 21, It didn't fail.

The signal was a very steep M15 10EMA in confluence with Daily S3 at 1.2387.

It gave +10p entering exactly at the first touch of the first level of confluence, in this case Daily S3. For a better entry you could have waited a little bit more until price actually touched the 10ema projection, that could have given more pips but I prefer to enter exactly on strong levels like Daily Pivots and these days I'm targeting 10 pips on almost all my trades.

Take a look at the attached Entry and Exit moments. Hope this helps.

Happy trading.
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  • #7,643
  • Edited 1:27pm Jul 5, 2012 1:04pm | Edited 1:27pm
Well, I've been waiting for M5 confirmation, so I had to enter a bit lower than actual 10 EMA. I suppose my SL may be too small, although it's 11.

P.S I thought the trend will continue down..
  • #7,644
  • Jul 6, 2012 1:45am Jul 6, 2012 1:45am
Can someone please send me the_simple_dance.pdf with updated rules? The link to download it from the first page does not work.
  • #7,645
  • Jul 6, 2012 2:08am Jul 6, 2012 2:08am
Quoting deathbait
Can someone please send me the_simple_dance.pdf with updated rules? The link to download it from the first page does not work.
http://www.forexfactory.com/showthre...85#post5812585
Riding the order flow
  • #7,646
  • Jul 6, 2012 2:10am Jul 6, 2012 2:10am
dunno how i missed it. thanks
  • #7,647
  • Jul 6, 2012 2:16am Jul 6, 2012 2:16am
hmm I'm not sure if it's the same one.

I believe it was a PDF file and included a checklist

"The thread's guardian angel has send me an updated manual and gave permission to post here. Some good updates in there. The trade checklist rocks!

rapidshare.com/files/430141724/The_Simple_Dance.pdf (add http:// )"

-Kostas
  • #7,648
  • Jul 6, 2012 3:56am Jul 6, 2012 3:56am
is the discussion in scribblar still exist?
cause i cant go inside it..
  • #7,649
  • Jul 6, 2012 4:20am Jul 6, 2012 4:20am
Quoting Air Wing
is the discussion in scribblar still exist?
cause i cant go inside it..
It does but not many people are there. Sent you the link.
Riding the order flow
  • #7,650
  • Jul 6, 2012 4:51am Jul 6, 2012 4:51am
i take short after it touches DP..
but only tfor a few pips..
when i look on the daily TF it's look like the price will move up a lil bit..
in weekly still forming the flag pattern..

btw, thx for the link..
  • #7,651
  • Jul 6, 2012 9:54am Jul 6, 2012 9:54am
hi guys just to show you all my first dance trade 10ma touch around the RN targeting 30 pips.
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  • #7,652
  • Jul 9, 2012 1:39am Jul 9, 2012 1:39am
in GU spotted constraintment on DP and RN.. looking for short soon..
  • #7,653
  • Jul 9, 2012 1:54am Jul 9, 2012 1:54am
Quoting Air Wing
in GU spotted constraintment on DP and RN.. looking for short soon..
For this kind of posts use the CHOROS Interactive thread......
  • #7,654
  • Jul 9, 2012 4:43am Jul 9, 2012 4:43am
Comments welcome.
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  • #7,655
  • Jul 9, 2012 5:32am Jul 9, 2012 5:32am
eurusd trade

15m 10ema, 5m and 1m price action,

SL 12

TP in S1

The price

the price moves sharply up
Attached Image(s) (click to enlarge)
Click to Enlarge Name: entrada eurusd 09.07.2012.gif Size: 330 KB
Click to Enlarge Name: entrada eurusd 09.07.2012 hit sl.gif Size: 308 KB
  • #7,656
  • Edited 6:58am Jul 9, 2012 6:42am | Edited 6:58am
I could say that M15 35/50 were relatively flat and it means that trend is weak. Also to add more, 10 EMA wasn't steep enough. I suggest you to use a fixed scaling by 150 pips for better judgement... Just 2 cents.

P.S If you have looked more in H4 TF, there were many S/R, that could have blocked your trade.

Quoting foxterbotell
eurusd trade

15m 10ema, 5m and 1m price action,

SL 12

TP in S1

The price

the price moves sharply up
  • #7,657
  • Jul 9, 2012 6:58am Jul 9, 2012 6:58am
Quoting 2121
I could say that M15 35/50 were relatively flat and that means that trend is weak. Also to add more, 10 EMA wasn't steep enough. I suggest you to use a fixed scaling by 150 pips for better judgement... Just 2 cents.

P.S If you have looked more in H4 TF, there were many S/R, that could have blocked your trade.
Thanks for your comment, as I set the scale at 150?
  • #7,658
  • Jul 9, 2012 7:02am Jul 9, 2012 7:02am
Try this post http://www.forexfactory.com/showthre...67#post4417867


Quoting foxterbotell
Thanks for your comment, as I set the scale at 150?
  • #7,659
  • Jul 9, 2012 7:32am Jul 9, 2012 7:32am
15M 10 M5 confirmation for +6 pips (as per in the interactive thread)

Also took the GU 15M 10 with M5 confirmation earlier for 8 pips.(M5 PPA)

As for my failed EU trade I was betting on a break out to the down side since it surpassed a demand area as seen in H4. I've taken 3 trades already, I think I will stop.
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  • #7,660
  • Jul 9, 2012 10:51am Jul 9, 2012 10:51am
Quoting Binyamin
Comments welcome.
M15 35/50 were totally flat at the moment.
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