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The 5 minute TF S&R trading system

  • #761
  • Oct 21, 2012 8:18pm Oct 21, 2012 8:18pm
Quoting Gerry
Hi Snail,

Thanks for that chart. There was something I found tricky at the time and only just remembered now again looking at this chart again. Something like this: ABC after a 2B cancels the 2B signal and becomes sign of consolidation. I've probably got this wrong... do you remember something like that?

In the chart 2B pointed to uptrend, so I'm probably wrong, but if you remember that principle, please let me know. Ta.

Gerry ABC after ABC is consolidation. 2b followed by ABC is Head and Shoulders and it should be sign of trend change.

After ABC pullback to point 2 and the there is first entry in a fresh trend.
  • #762
  • Oct 21, 2012 11:37pm Oct 21, 2012 11:37pm
Thanks. Got it Snail.
  • #763
  • Oct 22, 2012 2:27am Oct 22, 2012 2:27am
Hi ! Today trade i took a divergence trade at 1.3058 short.
Attached Image (click to enlarge)
Click to Enlarge Name: oct 22 trade.jpg Size: 104 KB
  • #764
  • Oct 22, 2012 3:45am Oct 22, 2012 3:45am
Hope it is acc to system.

Edit: Anotherr entry possible @ 3036 short
Attached Image (click to enlarge)
Click to Enlarge Name: today trades 22-oct- 2012.jpg Size: 86 KB
  • #765
  • Edited 8:18am Oct 22, 2012 5:25am | Edited 8:18am
@ 3060 long

Closed and reverted.
Attached Image (click to enlarge)
Click to Enlarge Name: today trades 22-oct- 2012.jpg Size: 81 KB
  • #766
  • Oct 22, 2012 6:51am Oct 22, 2012 6:51am
I just bailed at B E when your in a trade and the market structure changes and it goes sideways best to just get out and wait for another trade.
  • #767
  • Oct 22, 2012 8:11am Oct 22, 2012 8:11am
shorted 57 and now moving stop to be
  • #768
  • Oct 22, 2012 8:20am Oct 22, 2012 8:20am
Entered a bit late but still able to close for +15.

Long trade though....
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Click to Enlarge Name: today trades 22-oct- 2012.jpg Size: 79 KB
  • #769
  • Oct 22, 2012 8:21am Oct 22, 2012 8:21am
bailed with +9
  • #770
  • Oct 22, 2012 8:24am Oct 22, 2012 8:24am
snail glad you one but the 123 you shorted i wouldnt consider the V shape between 2 and 3 was not pronounced but never the less you understand the concept
  • #771
  • Oct 22, 2012 8:37am Oct 22, 2012 8:37am
Quoting T.h.p
snail glad you one but the 123 you shorted i wouldnt consider the V shape between 2 and 3 was not pronounced but never the less you understand the concept
THP just compared your yesterday's ABC and today's later one.

Right, your is more like "V" mine is more like a hook. So it means todays BC is too short.

Thanks for advice.
  • #772
  • Oct 22, 2012 8:38am Oct 22, 2012 8:38am
heres what i saw
Attached Image (click to enlarge)
Click to Enlarge Name: 123.jpg Size: 106 KB
  • #773
  • Oct 22, 2012 8:53am Oct 22, 2012 8:53am
when there is no news the market moves like this very very slow
  • #774
  • Oct 22, 2012 9:03am Oct 22, 2012 9:03am
if your looking for a long 54 is the area
  • #775
  • Oct 22, 2012 9:13am Oct 22, 2012 9:13am
Quoting T.h.p
if your looking for a long 54 is the area
Uderstand it as a perfect s/d line. ABC but no pullback , just trade break ? In that case how to judge when trade just break of ABC or only after break and pullback.

Please advise.
  • #776
  • Oct 22, 2012 9:23am Oct 22, 2012 9:23am
thats why i wait for 2 closes to see if trend is in place or a reversal at end of trend. as i am speaking price just took oput high so we wait for 2 closes then trade the pullback which is 70
  • #777
  • Oct 22, 2012 9:24am Oct 22, 2012 9:24am
Interesting break. I thought it would bounce down from 74 level and possibly go through next time round, but it moved right through. Will 87 hold?
  • #778
  • Oct 22, 2012 9:26am Oct 22, 2012 9:26am
whats 87 gerry
  • #779
  • Oct 22, 2012 9:30am Oct 22, 2012 9:30am
87 - don't see more resistance on my 5min chart. Moved up to 15 min and 1H and can see 84 - 87 there as next level
  • #780
  • Oct 22, 2012 9:32am Oct 22, 2012 9:32am
when you said 'taken out high', did you mean 71 or 74?

Had 2 closes above now... above both.
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