The 5 minute TF S&R trading system

Yes, it was a 2b. Also there's a nice horizontal trendline right there plus a little pre-SD trade.

when you have a higher high but it only takes out last by a few (less than 15) then goes lower than last higher lower you have a 2b then trade the pullback

notice how price came up to 65 and it coincided with supply area and shot down

right to the target

since theres silence i am guessing you all understand.

Nice trade, i wasn't in this one. I had to step away from the cpu for a bit.

I sold at 60 at the most recent pull back, but get out at BE when PA bounce back....

it appears to me that except for a few i seem to be talking to myself. there seems to be 30+ looking in ever since i started giving setup calls then they disappear. my intent was to share not be a signal service. since i already know this stuff maybe i will stop posting. maybe i should start a signal service lol

Hi Fxpivots,

I have been trying to understand your system and experimenting in the live market - trying so hard, but I'm just not winning. So now I DO want to follow your trading (rather than just looking at old posts, where you cannot see the action unfold live) to see what you're doing, except it's in the middle of my night, Western Australia. But I get the first hour or two... and then check back in the next morning.

I don't understand, so this is what I think you mean. Please correct me where I go wrong.

There was uptrend, turned at 74, significant pullback after that (I would have thought this was H&S??) but you thought 74 good place to buy (is that because H&S = cancelled when price gets back there?

I didn't trade this, but presuming one is then stopped out at around 60, then to reenter but this time go short. You spoke of 'secret weapon' before. So it's to enter in OPPOSITE dir immediately after?

I don't want to waste your time, but I'm just not always getting it!
Thanks for all the trouble you take with this thread

Here's a chart with a trade I did. Was my thinking wrong? Appreciate the guidance, thanks.

Hey there,

Above, Phik says:

Consolidation invalidates previous trend.

Is that right? If so, does it mean the trend is LIKELY to reverse, or just that it could go either way now?

Thanks for your insights

Hi Gerry !

From what I understand, Fxpivots is only trading the pull back of the recent "fresh" trend. If he sees any potential reversal pattern (123/2B) or consolidation, he will wait for a new trend to be confirmed through pull back and HH or LL before entering on the retest. I'm sure Fxpivots will clarify that.

On my side, I'm still struggling to find the right pullback and I was thinking to look at the higher time frame (15M) to find them and trade them only if there is no 2B/123/consolidation before the restest on the 5M time frame. Don't know if it makes sense, but the winners yesterday were all 15M pullback.

Fxpivots keep posting....!

Thanks Phik,

I get fresh trend - that took me a while and get 2b reversals (when I spot them correctly. I've seen a few references to HH HL LH and LL. obviously L = low and H = high, but what is the concept? Please elaborate on that.

The chart I posted, didn't that look like 123 with pull back? Was there something 'wrong' with it?

About the pullbacks... I think, if I understand that part, that one should look at the previous trend (other side of the mountain / valley) and see the support resistance there which becomes new resistance. I thought the charts at post 333 and 221 were beautiful examples of that.

Please keep your advice coming. Remember HH LL stuff please.

Take care

HH: higher high. LL: lower low. Trend confirmation is simple. Price goes one way, pull back and makes a LL. Then it reverses, exceeds previous high and makes a HH. Our entry should be on the previous high when price pull backs again after having at least 2 closes above. Can not see clearly your chart to check if it had 2 closes above. If not, it's then a 2B. Well, at least its my analysis but I'm not an expert...

very good explanation phik

Good morninf fxpivots...! Thanks. Potential sell at 1.2936 ?? I don't like however that yesterday high is just below...

ferry use line charts you will see it better

being selective phik thats good

BE now at +12pips.

Didn't had time to put BE that TP was met. That was quick... Thanks Fxpivots...