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CHOROS System

  • #7,821
  • Aug 13, 2012 7:10am Aug 13, 2012 7:10am
Quoting Darkforce
Is this the bar that you were looking at?

If so, a few problems with it IMO:
1.body too small, so almost a doji than pin bar
2.EU is bouncing up from a trendline at the bottom and making HH/HL, no good for short entry, probably until it hits something above
3.close of that bar(1.2278) is on DP+D1.35, and it failed to close below
4.the wick at the bottom worried me a little, but this is just a feeling
Silly me, I forgot to mention that the pin bar was on the M15 chart.
  • #7,822
  • Aug 13, 2012 7:18am Aug 13, 2012 7:18am
Quoting 2121
Silly me, I forgot to mention that the pin bar was on the M15 chart.
I see, in this case I'll delete my post to avoid confusion, maybe you can post a chart?
  • #7,823
  • Edited 10:24am Aug 13, 2012 10:13am | Edited 10:24am
Quoting 2121
Just got my SL of -11 hit on the EU HTF trade. Entered on the close of 13:30 (GMT+3) Pin bar. Probably because the M15 trend looked too strong and HTF MA's were flat. Comments are welcomed.
When the market start making strong moves like in EU today, and react to the HTF MA like today or even R1/S1 it usually go to the 15M 10 and bounce from there. So when you short it, that wasn't a good idea to hope that the market go through the 15M 10 without any reaction(with a 11 pips SL??), especially if it is the 1st touch like today. My 2 cents.

I illustrated it here
Attached Image (click to enlarge)
Click to Enlarge Name: 7150129 Interbank FX Trader 4 - Demo Account - EURUSD,M5_2012-08-13_18-51-26.jpg Size: 176 KB
Riding the order flow
  • #7,824
  • Aug 13, 2012 12:58pm Aug 13, 2012 12:58pm
That's my trade for today.

I got +15 pips out of this, as it can be seen i got most of the pips that it gave to me. +1% for me

Reason for enter: Steep 15m trend and a nice pull back to the 10 EMA, which was in confluence with WP point and that RSI on the 1M gave some sort of divergence. Oanda open order book also confirmed that the zone of 1.2335/40 had some buying interest.

Target was set at 1.2358 but was missed by 2/10 of a pip.

Attached Image (click to enlarge)
Click to Enlarge Name: EU 13.08.2012.JPG Size: 121 KB


I was thinking of a new entry about 30 minutes before taking the picture but the late hour made me stay aside. So far the trade would have given me about +5 pips, which is not a big deal.
  • #7,825
  • Aug 13, 2012 4:32pm Aug 13, 2012 4:32pm
wow, guys, are you still alive
  • #7,826
  • Aug 13, 2012 10:01pm Aug 13, 2012 10:01pm
Quoting makron
wow, guys, are you still alive
Wow you are still alive.

Been wondering what happen to you.
Riding the order flow
  • #7,827
  • Aug 14, 2012 6:47am Aug 14, 2012 6:47am
Even in a failed 35/50 bounce you can get out without a loss

If it is taking too much time to evolve - it may not be your trade for the day

Attached Image (click to enlarge)
Click to Enlarge Name: EU 14.08.2012.JPG Size: 107 KB


Waiting for a H1 35/50 bounce now, but be careful, wait for some confirmation first...
  • #7,828
  • Aug 14, 2012 8:43am Aug 14, 2012 8:43am
Hello again.

As i said watch for a H1 35/50 bounce.
That's the trade i took. I had entered a bit earlier than it should.
Reason for enter: H1 35/50 + WP + DP

Attached Image (click to enlarge)
Click to Enlarge Name: EU 14.08.2012 entry 2.JPG Size: 114 KB


Reason for exit 1: Exited half of the position at the RN when the price started to slow down. nearly 14 pips out of it.
Exit 2 is the stop of the other half, moved it at the bottom of the M1 swing. nearly 3 pips out of it. The TP of the trade was just bellow the DR1 at 1.2380
Total +1.1% out of this trade. The day for me is over !

Attached Image (click to enlarge)
Click to Enlarge Name: EU 14.08.2012 exit 2.JPG Size: 111 KB


Happy pipping all!
  • #7,829
  • Aug 14, 2012 9:47am Aug 14, 2012 9:47am
Well done Prp. I hesitated to take that H1 bounce, despite the fact that there was a good looking Doji on M5 TF at 15:55 (GMT+3). As from my observations, I come up with the conclusion that the best HTF trades are when M15 35/50 are flat and/or wide, because price is looking for a new direction and when M15 35/50 are steep and look more like a 'rope', then there gonna be a strong fight between M15 and higher TF's. As for my fishes, I took AU trade based on the M5 12 EMA, entered on the close of M5 Pin bar at 17:15 (GMT+3) and got out with my +10 pips.

Cheers
  • #7,830
  • Aug 14, 2012 10:34am Aug 14, 2012 10:34am
Took a lost at AUDUSD. Here.
Riding the order flow
  • #7,831
  • Aug 14, 2012 10:44am Aug 14, 2012 10:44am
Quoting Binyamin
Took a lost at AUDUSD. Here.
Take a look at the H1 chart and timing
  • #7,832
  • Aug 14, 2012 11:02am Aug 14, 2012 11:02am
Quoting 2121
Take a look at the H1 chart and timing
Care to elaborate?
Riding the order flow
  • #7,833
  • Aug 14, 2012 11:07am Aug 14, 2012 11:07am
Quoting Binyamin
Care to elaborate?
Weren't you trading against H1 Pin bar ? And I would not trade just one hour before London close.
  • #7,834
  • Aug 14, 2012 10:33pm Aug 14, 2012 10:33pm
Quoting Darkforce
Can you be more specific about what is the second PDF? If it is not "The Simple Dance.pdf"
Really weird, I only succeeded downloading with
the command line tool wget.

Reason: The server interrupted the download midway.
Thanks to wget option -c it continued nicely:

Inserted Code
$ --2012-08-15 10:22:14--  http://www.forexfactory.com/attachment.php?attachmentid=1017077
Auflösen des Hostnamen »www.forexfactory.com«... 67.192.106.155
Verbindungsaufbau zu www.forexfactory.com|67.192.106.155|:80... verbunden.
HTTP-Anforderung gesendet, warte auf Antwort... 200 OK
Länge: 3054986 (2,9M) [unknown/unknown]
In »»attachment.php?attachmentid=1017077«« speichern.

74% [============================>          ] 2.273.088   15,1K/s   in 2m 2s   

2012-08-15 10:24:16 (18,2 KB/s) - Verbindung bei Byte 2273088 geschlossen. Erneuter Versuch.

--2012-08-15 10:24:17--  (Versuch: 2)  http://www.forexfactory.com/attachment.php?attachmentid=1017077
Verbindungsaufbau zu www.forexfactory.com|67.192.106.155|:80... verbunden.
HTTP-Anforderung gesendet, warte auf Antwort... 206 Partial Content
Länge: 3054986 (2,9M), 781898 (764K) sind noch übrig [unknown/unknown]
In »»attachment.php?attachmentid=1017077«« speichern.

100%[+++++++++++++++++++++++++++++=========>] 3.054.986   15,1K/s   in 26s
  • #7,835
  • Edited 3:46am Aug 15, 2012 3:33am | Edited 3:46am
Here is EU Trade made soon after LO.
Frankfurt Open fakie formed Double Top
Price rejected from DP+MP and closed below H4.35(flat)
Exit: with first M1 pullback - after break out candle
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD,M1_2012-08-15_10-57-19.jpg Size: 136 KB
  • #7,836
  • Aug 15, 2012 5:57am Aug 15, 2012 5:57am
Quoting gilben
Here is EU Trade made soon after LO.
Frankfurt Open fakie formed Double Top
Price rejected from DP+MP and closed below H4.35(flat)
Exit: with first M1 pullback - after break out candle
Hi there gilben! It's nice to see you posting after so long!
Riding the order flow
  • #7,837
  • Aug 15, 2012 6:56am Aug 15, 2012 6:56am
Good day, for the EU It was a matter of time when it will drop because yesterday's Daily candle suggested that direction. Looks like M5 12 EMA bounce developed quite nicely.
  • #7,838
  • Aug 15, 2012 1:10pm Aug 15, 2012 1:10pm
The longer the time...the stronger the line...nice daily pinbar which indicates the sellers were the last group to have control yesterday..combined with the less than 50% retrace showed the sellers were still in control today...also notice that price never closed ABOVE the H4 10EMA...(same is true of H1 35SMA, as price was constrained by that area of overhead resistance) selling pressure was overwhelming stronger than buying pressure at that price area....two prior H4 wicks or topping tails also gave good odds the sellers were still in control....
  • #7,839
  • Aug 16, 2012 4:13am Aug 16, 2012 4:13am
Yes I Know ts summer vacation!!!!
(That is why these trades are with demo account)

But still price respects the rules.
good boy, price. good boy.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-08-16_12-08.jpg Size: 158 KB
  • #7,840
  • Aug 16, 2012 6:33am Aug 16, 2012 6:33am
Quoting gilben
Yes I Know ts summer vacation!!!!
(That is why these trades are with demo account)

But still price respects the rules.
good boy, price. good boy.
Top Gil! Your 2nd trade: I was looking at the market chart here at FF without any MAs and I thought that must be a good choros setup. Good that someone took it.
Swedish steel!
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