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The 5 minute TF S&R trading system

  • #241
  • Sep 21, 2012 9:17am Sep 21, 2012 9:17am
Quoting fxpivots
123 break and pullback also notice how price went right down to demand area a turned around
So then the close below 13 was a sort of insurance that this wasn't a 2b?

I'm in this same trade but i took it from 19.
  • #242
  • Sep 21, 2012 9:23am Sep 21, 2012 9:23am
Quoting Good Lookin
So then the close below 13 was a sort of insurance that this wasn't a 2b?

I'm in this same trade but i took it from 19.
It seems my question about it being a 2b doesn't fit because it's nothing like a 2b. My bad.

The real question is why didn't you take it from 19? It looks to me like that would have been the "correct" place to take it from.

EDIT: After taking a look at the candlestick chart i realize now what you mean by demand area. You were talking about the previous bounces (just like you said) but i just didn't recognize it. Your entry makes sense to me now.
  • #243
  • Sep 21, 2012 9:32am Sep 21, 2012 9:32am
Will you sell again today at 13 or are you done for today?
  • #244
  • Sep 21, 2012 9:33am Sep 21, 2012 9:33am
did everyone understand entries it r turning into s on uptrend and s turning into r on downtrends done for today
  • #245
  • Sep 21, 2012 9:35am Sep 21, 2012 9:35am
Fxpivots would you upload charts with your today trades please ? BE after how many pips usually ?
  • #246
  • Sep 21, 2012 9:37am Sep 21, 2012 9:37am
yes but was in cable trade at the time. Make perfect sense with your trading system.
  • #247
  • Sep 21, 2012 9:47am Sep 21, 2012 9:47am
taking wife to dr will post charts later with all the particulars i usually move stop to b e when i get up around 10-12 pips i then watch price action very carefully sometimes i take profit at + 13or 14joel i pmed u
  • #248
  • Sep 21, 2012 10:11am Sep 21, 2012 10:11am
Quoting fxpivots
taking wife to dr will post charts later with all the particulars i usually move stop to b e when i get up around 10-12 pips i then watch price action very carefully sometimes i take profit at + 13or 14joel i pmed u
Thanks. Hope everything is fine at your end.
  • #249
  • Sep 21, 2012 12:29pm Sep 21, 2012 12:29pm
Out of these 8 possible setups, I must learn to pick the best ones. A newbie to this method but not to price action so should be quick to catch on.

Anyway, I traded 4 winners out of these 8 possibilities if I understand this correctly.

What I don't know is how to pick the best ones to make a one or two trade a day. Appreciate input.

Thanks fxpivots for your years of hard work. Sharing it is a huge reward for you I'm sure. You are sure are helping me.

Steve
Attached Image (click to enlarge)
Click to Enlarge Name: today's trades1.gif Size: 17 KB
  • #250
  • Sep 21, 2012 2:53pm Sep 21, 2012 2:53pm
Quoting stevewide
Out of these 8 possible setups, I must learn to pick the best ones. A newbie to this method but not to price action so should be quick to catch on.

Anyway, I traded 4 winners out of these 8 possibilities if I understand this correctly.

What I don't know is how to pick the best ones to make a one or two trade a day. Appreciate input.

Thanks fxpivots for your years of hard work. Sharing it is a huge reward for you I'm sure. You are sure are helping me.

Steve
Hmm i don't quite see it like you do...

Attached Image (click to enlarge)
Click to Enlarge Name: 9-21-12 EU FXPivots.jpg Size: 185 KB
  • #251
  • Sep 21, 2012 7:15pm Sep 21, 2012 7:15pm
Ok here is the wrap up of todays action. I put all the particulars on the charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 146 KB
Click to Enlarge Name: 2.jpg Size: 139 KB
Click to Enlarge Name: 3.jpg Size: 125 KB
  • #252
  • Sep 21, 2012 9:01pm Sep 21, 2012 9:01pm
joel i answered your pm
  • #253
  • Sep 21, 2012 9:10pm Sep 21, 2012 9:10pm
Quoting fxpivots
joel i answered your pm
Well, this is fun, compared to me just sitting in front of my screen ALONE!!!!!
Do you guys come here often?
  • #254
  • Sep 21, 2012 9:13pm Sep 21, 2012 9:13pm
So basiclly we trade pullbacks in a trend a trend changes when you get a 123 and it gets taken out. baisic market structure ptice action HH HL LL LH
  • #255
  • Sep 21, 2012 9:17pm Sep 21, 2012 9:17pm
Quoting stevewide
Out of these 8 possible setups, I must learn to pick the best ones. A newbie to this method but not to price action so should be quick to catch on.

Anyway, I traded 4 winners out of these 8 possibilities if I understand this correctly.

What I don't know is how to pick the best ones to make a one or two trade a day. Appreciate input.

Thanks fxpivots for your years of hard work. Sharing it is a huge reward for you I'm sure. You are sure are helping me.

Steve
------
Steve would you share the sessions indicator on your chart ? Very nice indeed.
  • #256
  • Sep 21, 2012 9:19pm Sep 21, 2012 9:19pm
Quoting Joel
Well, this is fun, compared to me just sitting in front of my screen ALONE!!!!!
Do you guys come here often?
Would be great to have Skype Group to chat live during trading. Just idea.
  • #257
  • Sep 22, 2012 5:24am Sep 22, 2012 5:24am
Quoting snail69
------
Steve would you share the sessions indicator on your chart ? Very nice indeed.
My pleasure. Steve
Attached File(s)
File Type: ex4 Market_Open_Lines c.ex4   7 KB | 669 downloads
  • #258
  • Sep 22, 2012 5:54am Sep 22, 2012 5:54am
fxpivots:
Thanks for explaining today's trades...impressive...very.

Would like to learn why this trade is not a good one attached. I think it may be once 123 taken out going short down to the line marked in magenta box you no longer look for longs until a 2b happens to take out a 123 long that turns the market. This doesn't mean my trade is bad its just not part of this method to take only the best trades following a trend that just formed.

Am on on the right track?

Thank you for helping us.

Steve
Attached Image (click to enlarge)
Click to Enlarge Name: trade1.png Size: 22 KB
  • #259
  • Sep 22, 2012 7:19am Sep 22, 2012 7:19am
Quoting stevewide
My pleasure. Steve
Thank you Steve.
  • #260
  • Edited 8:30am Sep 22, 2012 7:51am | Edited 8:30am
hey steve no quite understanding what your getting at. the charts i posted pretty much explains the price action. for clarification a 2b is nothing more than the left shoulder and head of a head and shoulders pattern the 123 is the right shoulder to complete the whole pattern
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