The 5 minute TF S&R trading system

this daily chart capsulates the method

here again is daily chart 2b followed bt 123

is it just 2b and abc forming ?

123 still building...

Have to leave... Will not take it.. Bye.

bye, me too sleep time and then Bernake...

Just giving a thanks to you fxpivots for showing how you use 123's as SR flips and 2b's.

I wasn't really looking to add anything new to my trading plan but what you have here overlaps and reaffirms something i had already been doing.

Thanks for the validation

heres a chart showing when not to trade and then when to trade

heres another chart

Yes, that helps thanks

I think I'll change my name to (Joel trade the pullbacks 2B123)

these last 2 charts help to determine when trend is in place once it is then simply trade a pullback. If you are patient and selective you will be able to spot these 7 - 10 times a month. Last month i won 11 times lost 1. As for 2b followed by 123 ( its real name is head and shoulders pattern) they are used only to confrim that a trend has changed as price takes out point 2 and then to trade the pullback. This is all support and resistance within a trend

If you all are getting this find a chart and post it here so i can see that you understand whats going on here.

is this correct?

im just pacticing

this one turn out a loss, what wrong with the setup??

This is where I entered... I got 2 TPs out of 3. Was considering adding short at 92 but the retracement was too fast and completed V shape.

watch that too, but still in long trade, so i didn't take that

Trade range for today so far is just about 40 pips. So no trade for me.

very smart phik be selective wait for trend to establish then trade pullback

What about when it breaks range ?

There was a break to above and pullback. Have you entered ?