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The 5 minute TF S&R trading system

  • #161
  • Sep 20, 2012 2:52am Sep 20, 2012 2:52am
TARGET!!!
  • #162
  • Sep 20, 2012 3:14am Sep 20, 2012 3:14am
anyone else catch this trade simple setup
  • #163
  • Sep 20, 2012 3:18am Sep 20, 2012 3:18am
I am still in this trade but it never hit target. Would you be kind enough to post a chart when you have time. Thanks.
  • #164
  • Sep 20, 2012 3:30am Sep 20, 2012 3:30am
entry was 753 price hit 593 at 750 gmt then 51 also if you get close to teget irs ok ro closedont let winner turn into loser
  • #165
  • Sep 20, 2012 3:42am Sep 20, 2012 3:42am
Thank you.
  • #166
  • Sep 20, 2012 5:00am Sep 20, 2012 5:00am
Quoting dappa
Hey I'm sorry but what does 2b mean stand for? Been reading the thread and didn't bother to ask what it stood for?
Here are some posts about 2B patterns.

http://www.cornixforex.com/tag/2b-reversal-pattern/

http://www.thepatternsite.com/2B.html

http://www.forexfactory.com/showthread.php?t=261338

Enjoy
every Saint has a past. Every Sinner has a Future
  • #167
  • Sep 20, 2012 5:05am Sep 20, 2012 5:05am
Lots of talk about 2b's + divergence. If you miss the 2b then the 1 2 3 that follows the divergence is normally a good trade.

Also a very specific set up, the 2b pre/early US session that reverts to London session trend also normally a good trade.

Nice stuff fxpivots your eye for spotting the SR levels is great.
  • #168
  • Sep 20, 2012 6:36am Sep 20, 2012 6:36am
Market has moved about 125 pips i would wait till after the news so market can refuel and wait for direction to trade. As for 2b and 123 patterns i use them as trend changers only. So we get a 2b i want to see a 123 follow that and it gets taken out i wait for 2 closes then trade the pullback. Its all about the pullback or ross hook for our 123 fans. A 2b is where price makes a high or low pulls back then takes out the high or low but not by much.
  • #169
  • Sep 20, 2012 6:55am Sep 20, 2012 6:55am
Those that are visiting this thread are you understanding this trading method?
  • #170
  • Sep 20, 2012 7:07am Sep 20, 2012 7:07am
FxPivots please I have a question.

Just now 2b patter and broken ABC. Now wait for pullback to 2956 and long , correct ?

Not taking into count news.
  • #171
  • Sep 20, 2012 7:15am Sep 20, 2012 7:15am
Yes thats correct though i would like to see it without any wiggle in it (consolidation)
  • #172
  • Sep 20, 2012 7:20am Sep 20, 2012 7:20am
heres what i got, please correct me if im wrong...
regards,
f.
Attached Image (click to enlarge)
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  • #173
  • Sep 20, 2012 7:26am Sep 20, 2012 7:26am
thats also correct frank though news is coming out and we moved 130 already but yes thats how to trade the S&R pullbacks
  • #174
  • Sep 20, 2012 7:34am Sep 20, 2012 7:34am
Quoting fxpivots
Yes thats correct though i would like to see it without any wiggle in it (consolidation)
Thank you for the answer fxpivots.
  • #175
  • Sep 20, 2012 7:35am Sep 20, 2012 7:35am
Everyone take a look at this chart
Attached Image (click to enlarge)
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  • #176
  • Sep 20, 2012 7:37am Sep 20, 2012 7:37am
Alrighfrank, that is a live trade ? Spread was widened to 10 pips during news.

Are you still in ?
  • #177
  • Sep 20, 2012 7:42am Sep 20, 2012 7:42am
we are in a consolidation mode its best to let market pick a direction and trend, otherwise wr are guessing. BE selective you dont need many wins to make money.
  • #178
  • Sep 20, 2012 7:51am Sep 20, 2012 7:51am
Quoting fxpivots
thats also correct frank though news is coming out and we moved 130 already but yes thats how to trade the S&R pullbacks
noted fx, sl hit! now looking for re-entry
  • #179
  • Sep 20, 2012 7:56am Sep 20, 2012 7:56am
Quoting snail69
Alrighfrank, that is a live trade ? Spread was widened to 10 pips during news.

Are you still in ?
yes mate, i was trading it live.
'Spread was widened to 10 pips during news' - i wasnt paying attention to the news mate tnx for reminding...

f.
  • #180
  • Sep 20, 2012 7:59am Sep 20, 2012 7:59am
Quoting fxpivots
we are in a consolidation mode its best to let market pick a direction and trend, otherwise wr are guessing. Be selective you dont need many wins to make money.
be selective if it doesnt look great then it aint
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