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The 5 minute TF S&R trading system

  • #781
  • Oct 22, 2012 9:35am Oct 22, 2012 9:35am
THP, so there was no long at break of 54. Correct ?
  • #782
  • Oct 22, 2012 9:38am Oct 22, 2012 9:38am
Quoting snail69
THP, so there was no long at break of 54. Correct ?
The way I see it, it did break up through 54, but no pullback to buy
  • #783
  • Oct 22, 2012 9:39am Oct 22, 2012 9:39am
Sorry... that wasn't addressed to me!
  • #784
  • Oct 22, 2012 9:47am Oct 22, 2012 9:47am
thats right new closing price is 70
  • #785
  • Oct 22, 2012 9:56am Oct 22, 2012 9:56am
late in day a h and s seems to be forming
  • #786
  • Oct 22, 2012 9:59am Oct 22, 2012 9:59am
I must go. Will catch up here tomorrow. Have a good evening. G
  • #787
  • Oct 22, 2012 10:00am Oct 22, 2012 10:00am
well here my dilema i won 9 pips on first trade earlier i need 6 to make 15 so i will have stop set at 9 and target 6 so either i make my 3% today or breakeven.
  • #788
  • Oct 22, 2012 10:16am Oct 22, 2012 10:16am
well broke even on the day try again tomorrow
  • #789
  • Oct 22, 2012 12:22pm Oct 22, 2012 12:22pm
I had another entry at 1.3075 short . Divergence with PA at resistance area.
Today total 15 + 15 pips = 30 pips . Great start for this week ..=)
Attached Image (click to enlarge)
Click to Enlarge Name: Oct 22 trade 2.jpg Size: 115 KB
  • #790
  • Oct 22, 2012 1:18pm Oct 22, 2012 1:18pm
Quoting T.h.p
late in day a h and s seems to be forming
notice the area of pullback going to 2b followed by 123 was supply area
  • #791
  • Oct 22, 2012 5:30pm Oct 22, 2012 5:30pm
Quoting kellypero
I had another entry at 1.3075 short . Divergence with PA at resistance area.
Today total 15 + 15 pips = 30 pips . Great start for this week ..=)
Attachment
i am really confused about the way you plot your chart, but im glad its working for you.

f.
  • #792
  • Oct 22, 2012 6:22pm Oct 22, 2012 6:22pm
hi frank if you are referring to kelly hes using s and r in a differnt way using divergence other time frames etc. If it works for him super i know what works for me. Again i cant tress this enough its all about having a plan to make consisent money. If you have no goal to achieve this then it just becomes gambling. My goal is to make 20 - 25% each and EVERY month.
  • #793
  • Oct 22, 2012 7:06pm Oct 22, 2012 7:06pm
Quoting T.h.p
hi frank if you are referring to kelly hes using s and r in a differnt way using divergence other time frames etc. If it works for him super i know what works for me. Again i cant tress this enough its all about having a plan to make consisent money. If you have no goal to achieve this then it just becomes gambling. My goal is to make 20 - 25% each and EVERY month.
Hi THP

I too trade a similar system to this based around Divergences old "Flag trading the trend" thread, absolutely awesome thread. Think it went a bit squiffy when he went down to 1 min charts but if you stick to 5 mins charts it works well.

Only difference I can see here is you are stipulating to trade the pullbacks but ONLY when coincides with price on previous S&R from last LH in a down trend or last HL in an uptrend.

Would you agree thats the only difference? Basically we are flag trading a strong trend but only taking pullbacks off of previous support or resistance?

Only just found this thread but will be following very closely from now on.

All the best Clive.
Feel the Fear and do it anyway!!!
  • #794
  • Oct 22, 2012 7:08pm Oct 22, 2012 7:08pm
Quoting T.h.p
hes using s and r in a differnt way using divergence
precisely my point.

Quoting T.h.p
its all about having a plan to make consisent money.
and sticking to a proven method that works. no setup no trade.

regards
f.
  • #795
  • Oct 22, 2012 7:31pm Oct 22, 2012 7:31pm
in a word clive yes
  • #796
  • Oct 22, 2012 7:45pm Oct 22, 2012 7:45pm
take a look at this setup
Attached Image (click to enlarge)
Click to Enlarge Name: 2b.jpg Size: 119 KB
  • #797
  • Edited 4:54am Oct 23, 2012 3:16am | Edited 4:54am
Oct. 23

- short +15
- long - closed for +5 , resistance of s/d level at 38.2 fib
Attached Image (click to enlarge)
Click to Enlarge Name: today trades 23-oct- 2012.gif Size: 19 KB
  • #798
  • Oct 23, 2012 4:22am Oct 23, 2012 4:22am
Yep long for sure great call snail69 the perfect long setup entry 1.3030 did you hit it???

I'm just trying his line charts, so takes a bit of getting use to but will endeavour to post some setups shortly.

Just let me get use to these line charts and I will be posting asap.
Feel the Fear and do it anyway!!!
  • #799
  • Oct 23, 2012 4:29am Oct 23, 2012 4:29am
Quoting clivepackham
Yep long for sure great call snail69 the perfect long setup entry 1.3030 did you hit it???

I'm just trying his line charts, so takes a bit of getting use to but will endeavour to post some setups shortly.

Just let me get use to these line charts and I will be posting asap.
Thanks Clivepackham, trying to learn.

Entry 30295.

PS: Having also look at mentioned method by you, however, seems almost same principle as here but charts are candles and MA is used with CCI.

But great looking too.
  • #800
  • Oct 23, 2012 4:53am Oct 23, 2012 4:53am
Quoting snail69
Thanks Clivepackham, trying to learn.

Entry 30295.

PS: Having also look at mentioned method by you, however, seems almost same principle as here but charts are candles and MA is used with CCI.

But great looking too.
Yes I am a very keen pullback trader having been introduced to it by "Flag trading the trend" thread, check it out it was awesome.

I have some small differences to this system for instance I like to get to BE asap like within 3 pips (I don't like losing my money) saves me a fortune.

Have some ideas to add to this system too(like holding for better RR) which I will share later on, but right now have to go to work so will catch up later.

Looking forward to working with everyone to here.

Catch you later
Feel the Fear and do it anyway!!!
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