CHOROS System | Page 399 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

CHOROS Interactive 2,625 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

Would you trade this system? New system #2. 10 replies

Attachments: CHOROS System
Exit Attachments

CHOROS System

  • #7,961
  • Sep 4, 2012 4:21pm Sep 4, 2012 4:21pm
Quoting Jkdt
I am not negating you trade by any means, as I know it might have been a perfect by the org. Dance rules trade, but I was just wondering whether I was wrong not to take that trade because of:

1) DP just below
2) 1h 35/50 just below
3) 4 bars retrace (although I assume it is also "legal" to reset the counter after a bar in another direction or neglect the 2nd and 3rd one as they have very small bodies, that we can observe in this trade's retrace, it's just me being recently more conservative about it)

[ 4) Demand Zone just below? ]

The...
hello jkt

From my perspective, for me the touch of 10ema in 15m, is more likely in this case, because it indicates that the price was in SELL ZONE

while price action indicates mini waves ABCD

in the image explain what I mean

I hope I've been helpful greetings

your comments are welcome dancers
Attached Image (click to enlarge)
Click to Enlarge Name: 04.09.2012 eurusd observacion.gif Size: 317 KB
  • #7,962
  • Sep 4, 2012 4:27pm Sep 4, 2012 4:27pm
Quoting Jkdt
Whenever, cheers for your detailed explanation. I was VERY tempted to take that trade, as I have literally fallen in love with that perfect M5 pin bar on the top of the retrace, an absolute beauty. But coz of the reasons mentioned earlier, I thought I'd be letting my greed off the leash too much, so I passed on that one. You must have got at least 1:2 RR there, nice.

I also passed on the same trade on EJ, there was a very similar situation. The positive thing was there were no S/R levels below and it got rejected by DR1. The negative...
Mate, strangely on my chart, the DP was above that price @1.2601, not under it. Might just be my indicator go wild.

Also, as Whenever said, 1st touch after strong move is a strong entry(very important for us), even if DP is below, after seeing the sort M5 price action, I would least expect the price to retest DP, rather than just running right away from it.

Also, in most London morning session, once trend is set, it is likely to continue until US come in and stir the party. This morning, it was set to go down(I noticed the two pinbars 7:45am and 11am).
  • #7,963
  • Sep 4, 2012 4:33pm Sep 4, 2012 4:33pm
Quoting foxterbotell
hello jkt

From my perspective, for me the touch of 10ema in 15m, is more likely in this case, because it indicates that the price was in SELL ZONE

while price action indicates mini waves ABCD

in the image explain what I mean

I hope I've been helpful greetings

your comments are welcome dancers
Hi, care to explain what's rests price and recoil price?
  • #7,964
  • Sep 4, 2012 4:47pm Sep 4, 2012 4:47pm
Quoting Darkforce
Hi, care to explain what's rests price and recoil price?
hello, my english is not very good,,,

the rests price or recoil price is the distance from point B to point C of the picture

regards
  • #7,965
  • Sep 4, 2012 11:49pm Sep 4, 2012 11:49pm
Quoting Darkforce
Mate, strangely on my chart, the DP was above that price @1.2601, not under it. Might just be my indicator go wild.

Also, as Whenever said, 1st touch after strong move is a strong entry(very important for us), even if DP is below, after seeing the sort M5 price action, I would least expect the price to retest DP, rather than just running right away from it.

Also, in most London morning session, once trend is set, it is likely to continue until US come in and stir the party. This morning, it was set to go down(I noticed the two pinbars 7:45am...
Jk, apologise my pivot level indicator setting got a bit messed up. I can now see the DP @1.2586
  • #7,966
  • Sep 5, 2012 3:16am Sep 5, 2012 3:16am
Foxterbotell,

I see your logic behind the trendlines and sell zone, but the ABCD pattern wasn't formed when taking that trade. Thanks for yout effort anyway

Darkforce, no probs

Greets,

JK
  • #7,967
  • Sep 5, 2012 6:40am Sep 5, 2012 6:40am
Quoting Jkdt
Foxterbotell,

I see your logic behind the trendlines and sell zone, but the ABCD pattern wasn't formed when taking that trade. Thanks for yout effort anyway

Darkforce, no probs

Greets,

JK
I think the point that Fox was trying to make is this(correct me if I am wrong): at point C, we anticipated that the C->D leg of the ABCD was forming.

Since A->B is a strong momentum move, and B->C slow and mild, thus a big C->D is more likely, worth taking.

I think 1st touch after strong move, and this ABCD are talking about the same thing.
  • #7,968
  • Sep 5, 2012 6:43am Sep 5, 2012 6:43am
Buy trade Eurusd

the price made a nice pullback, I gave input signal

15m 35/50/10, 1h 10, 4h 50,Daily S1, 5m price acction

SL 10

TP 15
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 05.09.2012 entrada eurusd.gif Size: 337 KB
Click to Enlarge Name: 05.09.2012 entrada eurusd salida posi.gif Size: 310 KB
  • #7,969
  • Sep 5, 2012 6:46am Sep 5, 2012 6:46am
Quoting Darkforce
I think the point that Fox was trying to make is this(correct me if I am wrong): at point C, we anticipated that the C->D leg of the ABCD was forming.

Since A->B is a strong momentum move, and B->C slow and mild, thus a big C->D is more likely, worth taking.

I think 1st touch after strong move, and this ABCD are talking about almost the same thing.
hello Darkforce,, you're right, that is not always but when there is an opportunity to take it,,,

in this case was a setback in 50 fibonaci and extension at 161 if you look closely

regards
  • #7,970
  • Sep 5, 2012 9:22am Sep 5, 2012 9:22am
My Second Buy trade in Eurusd

5m 23ema and price acction, 1m price acction dojisbar,

to open the operation the price very near to the 15m 10ema,,

My tp is in Daily R1 19+

I was lucky to get out in the daily resistance, because the minute there was a strong movement stops hunting down the by the smart money
Attached Image (click to enlarge)
Click to Enlarge Name: 05.09.2012 2entrada eurusd salida posi.gif Size: 316 KB
  • #7,971
  • Sep 5, 2012 12:30pm Sep 5, 2012 12:30pm
Quoting foxterbotell
My Second Buy trade in Eurusd

5m 23ema and price acction, 1m price acction dojisbar,

to open the operation the price very near to the 15m 10ema,,

My tp is in Daily R1 19+

I was lucky to get out in the daily resistance, because the minute there was a strong movement stops hunting down the by the smart money
I didn't take it because it is at a supply. Will be looking for shorts. The supply have been visited on a few occasions though.
Attached Image (click to enlarge)
Click to Enlarge Name: 7191403 Interbank FX Trader 4 - Demo Account - [EURUSD,H4]_2012-09-06_01-27-50.jpg Size: 122 KB
Riding the order flow
  • #7,972
  • Sep 5, 2012 12:44pm Sep 5, 2012 12:44pm
Quoting Binyamin
I didn't take it because it is at a supply. Will be looking for shorts. The supply have been visited on a few occasions though.
you're right, but one of the reasons why also take trade was also infiltrated by the statement that put Bloomberg on BCE plans to save the euro,

Following the statement was that there was upward force, so take trade

regards
  • #7,973
  • Sep 6, 2012 5:16am Sep 6, 2012 5:16am
Hello traders!

Here is a long eu at the m15/35-50 & h1/10 MAs at 9:00 gmt.
I was afraid because it was a third touch of these MAs
but the daily, h4 and h1 charts was at good , healthy uptrend and also
was after London open and took the trade...
Also very late entry because I had to be sure for the
rejection. Finally it worked until the previous peak on the left
for 12 pips.

many pips to all!
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 23 KB
  • #7,974
  • Sep 6, 2012 8:41am Sep 6, 2012 8:41am
Entry: 1.25958
Exit: 1.25797

Reason for enter:
I was really watching for the M15.10 touch at previous candle, but I had to answer a phone call so missed that better entry.

Just when I thought I missed it, I saw this M5 pinbar rejection from M5.10 and RN1.2600, I then entered at retest of RN at the next M5 bar.

So:
1.M5 pinbar rejection
2.Confluence of the RN and M15.10 at time of entry.
3.Fundamental drive for price to go down.
4.Price already break the lower trendline that supported the price the whole morning.
5.H4 divergence.

All these make me feel confident to enter.

Reason for exit:
Price reached DP, I wanted to hold it for a test of WP, but the PA(doji on M5, PB on M1) makes me a little uncomfortable to hold it, so decide to close it at DP rather than WP.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 32 KB
Attached Image
  • #7,975
  • Sep 6, 2012 8:46am Sep 6, 2012 8:46am
eurusd sell trade

I was expecting the price reacts h135/50 and H410, reacts as expected a pullback to continue the downward force

5m 10/12/23 and pinbar

TP1 in daily pivot +18
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 06.09.2012 entrada eurusd.gif Size: 334 KB
Click to Enlarge Name: 06.09.2012 entrada eurusd salida posi.gif Size: 330 KB
  • #7,976
  • Sep 6, 2012 8:48am Sep 6, 2012 8:48am
Quoting Darkforce
Entry: 1.25958
Exit: 1.25797

Reason for enter:
I was really watching for the M15.10 touch at previous candle, but I had to answer a phone call so missed that better entry.

Just when I thought I missed it, I saw this M5 pinbar rejection from M5.10 and RN1.2600. I just entered at retest of RN at the next M5 bar.

So:
1.M5 pinbar rejection
2.Confluence of the RN and M15.10 at time of entry.
3.Fundamental drive for price to go down.
4.Price already break the lower trendline that supported the price the whole morning.
5.H4...
we have the same trade lol: P
  • #7,977
  • Sep 6, 2012 8:52am Sep 6, 2012 8:52am
Quoting foxterbotell
we have the same trade lol: P
Yeah! Good trade mate.

I now regret closed it at DP, as it is running towards WP, just choppy.
  • #7,978
  • Sep 6, 2012 9:01am Sep 6, 2012 9:01am
Quoting Darkforce
Yeah! Good trade mate.

I now regret closed it at DP, as it is running towards WP, just choppy.
not regret having closed the daily pivot are 15pips 15pips,,



not grieve because we are not soothsayers and do not know what will happen to the price, the price will loo to do without you or without me, just adjust the odds in our favor: D

Use multiple lots, I have still 10% open and 90% closed

regards
  • #7,979
  • Sep 6, 2012 9:07am Sep 6, 2012 9:07am
Quoting foxterbotell
not regret having closed the daily pivot are 15pips 15pips,,



not grieve because we are not soothsayers and do not know what will happen to the price, the price will loo to do without you or without me, just adjust the odds in our favor: D

Use multiple lots, I have still 10% open and 90% closed

regards
Haha, true, thanks.

I am a scalper so I am pretty happy with what I got from it anyway.
  • #7,980
  • Sep 6, 2012 9:49am Sep 6, 2012 9:49am
Guys you rock!



Also I think it could be short opportunity for another short,
5 bars (5m) later with 2 bars rule. Anyway your trade was
better because of first touch m5/12 I missed both of them.
I took this scoop up after m15 pin bar 15:15gmt
and price closed above m5/23 also rejection from pivots...for +18.... end of the day.

many pips to all!
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 26 KB
20 traders viewing now