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The 5 minute TF S&R trading system

  • #301
  • Sep 24, 2012 8:47am Sep 24, 2012 8:47am
Went to the bronx zoo when i was a kid and that pretty much sums up my experience with the borough, lol
  • #302
  • Sep 24, 2012 12:55pm Sep 24, 2012 12:55pm
Heres a chart explaining the thinking behind todays trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 139 KB
  • #303
  • Sep 24, 2012 4:03pm Sep 24, 2012 4:03pm
Fxpivots,

- how do you judges presence of trend direction ?

As there was ABC and still you were looking for short.


- do you place pending orders or at market price ?

Thanks.
  • #304
  • Edited 5:19pm Sep 24, 2012 4:27pm | Edited 5:19pm
where is abc? i look at fresh trend unless there is a trend change via h and s type pattern
  • #305
  • Sep 24, 2012 5:00pm Sep 24, 2012 5:00pm
Quoting fxpivots
where is abc? i look at fresh trend unless there is a trend change via h and type pattern
In post 279 i attach graph after abc i entered long and it was loser, whereas in your graph with explanations the following peak is marked as not comfortable to enter short at that place, so you were still in short mood. This puzzles me.

Sorry for ignorance but can you please explain "h and type pattern " please.
  • #306
  • Sep 24, 2012 5:23pm Sep 24, 2012 5:23pm
snail as i explained in post 304 that area where you have as abc i saw as consolidation. The reason is 123 followed by another 123. Rememner the opertive word BE SELECTIVE. sorry for my typo its the head and shoulds pattern which is a 2b followed by a 123
  • #307
  • Edited Sep 25, 2012 12:21am Sep 24, 2012 8:11pm | Edited Sep 25, 2012 12:21am
Quoting fxpivots
snail as i explained in post 304 that area where you have as abc i saw as consolidation. The reason is 123 followed by another 123. Rememner the opertive word BE SELECTIVE. sorry for my typo its the head and shoulds pattern which is a 2b followed by a 123
Thanks a lot fxpivots. So only and only after head&shoulders looking for pullback opps .

Edit: just as you said fxpivots , after H&S then pullback. A while ago closed trade for full 15 pips. Will post graph after a while. Thanks again fxpivots. Now practice and patience.
  • #308
  • Sep 24, 2012 11:10pm Sep 24, 2012 11:10pm
Hi FX,

Thanks so much for this thread. I only found it yesterday, so lots of reading and trying out. A few pages left to go. I'll try some trades later. Thanks again for sharing.

Take care
  • #309
  • Sep 25, 2012 2:15am Sep 25, 2012 2:15am
There was a nice trade this morning at 1.2913 just before London open. The last pull back of the trend was however a loser as price bounced fron yesterday low (first arrow). Better to avoid trade when there is an obvious S/R just below last pull back.
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 22 KB
  • #310
  • Sep 25, 2012 2:50am Sep 25, 2012 2:50am
Thanks Geo

[quote=Geo_forex;6037758]EMA12 and EMA 72 [/QU
  • #311
  • Sep 25, 2012 4:30am Sep 25, 2012 4:30am
not a pretty picture so far
  • #312
  • Sep 25, 2012 4:44am Sep 25, 2012 4:44am
Hi fxpivots, this is the trade earlier of today. Would you qualify it as acceptable as per your standards ? Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: trade.jpg Size: 298 KB
  • #313
  • Sep 25, 2012 5:26am Sep 25, 2012 5:26am
you got it snail
  • #314
  • Sep 25, 2012 5:35am Sep 25, 2012 5:35am
Fxpivot, would 1.2938 be a good place for a buy...?
  • #315
  • Sep 25, 2012 5:38am Sep 25, 2012 5:38am
if news wasn't coming out in 20 minutes i d go long at 38
  • #316
  • Sep 25, 2012 5:57am Sep 25, 2012 5:57am
Quoting fxpivots
you got it snail
appreciate your teaching,
  • #317
  • Sep 25, 2012 5:58am Sep 25, 2012 5:58am
Quoting snail69
appreciate your teaching,
me too!
  • #318
  • Sep 25, 2012 5:59am Sep 25, 2012 5:59am
Quoting fxpivots
if news wasn't coming out in 20 minutes i d go long at 38
Thanks... Let be patient...
  • #319
  • Sep 25, 2012 6:26am Sep 25, 2012 6:26am
Short at 52/53 area?
  • #320
  • Edited 6:51am Sep 25, 2012 6:31am | Edited 6:51am
long @ 38 still valid ?

Edit: looks like H&S forming...
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