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CHOROS System

  • #8,481
  • Nov 23, 2012 2:45pm Nov 23, 2012 2:45pm
Quoting Eur Usd
http://www.forexfactory.com/l3al3ak#08

I feel sorry for the guy
besides can't understand the reason behind this way of trading. he opens hundreds of small positions, it's too difficult to manage them
irrelevant for this thread. Please keep thread clean of BULLSH1T.....
  • #8,482
  • Nov 23, 2012 3:08pm Nov 23, 2012 3:08pm
Anyone else got burned on 15m GU today at 8:15-ish GMT? Seemed like a nice 10ema touch long (blue) setup without any no-no from HTFs. Even 35/50 are on top of e-o, although maybe not steep enough plus it looked nice on 5m incl. some pinbars and a lot of bottom wicks just before. :nerd:
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 126 KB
  • #8,483
  • Nov 23, 2012 4:53pm Nov 23, 2012 4:53pm
Quoting Eur Usd
so EUR USD went up high, but who could predict it? my glass ball is broken ;-)
You need a crystal ball, maybe ;-)
  • #8,484
  • Nov 24, 2012 5:12am Nov 24, 2012 5:12am
Quoting Jkdt
Anyone else got burned on 15m GU today at 8:15-ish GMT? Seemed like a nice 10ema touch long (blue) setup without any no-no from HTFs. Even 35/50 are on top of e-o, although maybe not steep enough plus it looked nice on 5m incl. some pinbars and a lot of bottom wicks just before. :nerd:
Kostas would explain it much better but I could give you a hand with this. Despite the fact that M15 35/50 were on top of each other - they were flat as well as H1 35/50 flat meaning no real trend. When M15 35/50 are flat take signals from HTF. You CAN trade when M15 MA's are FLAT but there must be some kind of bounce from HTF that indicates new trend starting and we are using scooped-up/down technique for them. The short signal you have took was also dangerous because it was against HTF direction, I took long after that move down which created a double bottom. Don't know if this helps but that's the way I understand it.
  • #8,485
  • Edited 7:18am Nov 24, 2012 7:04am | Edited 7:18am
Thanks a lot 2121 for your help on the long setup.

However, regarding the short one and being counter HTF trend - I will not fully agree. Although the price was above 4h 35/50, it was below 1h 35/50 which at that point were pointing down and nearly parallel/comming together, there was a PP and RN above and a truely exellent pibar on M5. Sorry 2121, would have taken it again.

If you took a long right after I killed my short then weren't you trading against h1 35/50 AND h1 pinbar with a large spike?

All the best,

JK
  • #8,486
  • Nov 24, 2012 2:56pm Nov 24, 2012 2:56pm
Quoting Jkdt
Thanks a lot 2121 for your help on the long setup.

However, regarding the short one and being counter HTF trend - I will not fully agree. Although the price was above 4h 35/50, it was below 1h 35/50 which at that point were pointing down and nearly parallel/comming together, there was a PP and RN above and a truely exellent pibar on M5. Sorry 2121, would have taken it again.

If you took a long right after I killed my short then weren't you trading against h1 35/50 AND h1 pinbar with a large spike?

All the best,

JK
Jkdt, we are missing one important rule that longer TFs are stronger than lower ones: H4 > H1 and D1 > H4, we just need to be more patient for a trade to develop. In this situation there was not only H4 50/62 but D1 10 as well. HTFs are often retested by creating double tops/bottoms - providing more safer and stronger entries but I still hesitate because not always they are tested twice.
  • #8,487
  • Edited 7:14am Nov 25, 2012 6:12am | Edited 7:14am
Quoting 2121
Jkdt, we are missing one important rule that longer TFs are stronger than lower ones: H4 > H1 and D1 > H4, we just need to be more patient for a trade to develop. In this situation there was not only H4 50/62 but D1 10 as well. HTFs are often retested by creating double tops/bottoms - providing more safer and stronger entries but I still hesitate because not always they are tested twice.
I agree with both responses by 2121 who seems to have done his homework. You get a vouch for that my friend...
  • #8,488
  • Nov 25, 2012 6:28am Nov 25, 2012 6:28am
Quoting Jkdt
Anyone else got burned on 15m GU today at 8:15-ish GMT? Seemed like a nice 10ema touch long (blue) setup without any no-no from HTFs. Even 35/50 are on top of e-o, although maybe not steep enough plus it looked nice on 5m incl. some pinbars and a lot of bottom wicks just before. :nerd:
The M5 pinbar I saw was not good short in the M5 TF, since it was above 12/23.
If you took the short based on M15 when it bounced from 35/200, DP, then it was good enough for 10-12 pips. On your chart it seems you got out at the right point??
Attached Image (click to enlarge)
Click to Enlarge Name: GU1.jpg Size: 144 KB
  • #8,489
  • Nov 26, 2012 3:18am Nov 26, 2012 3:18am
Thank both of you for your guidance.
  • #8,490
  • Nov 26, 2012 3:44am Nov 26, 2012 3:44am
Quoting kostas1
I agree with both responses by 2121 who seems to have done his homework. You get a vouch for that my friend...
Thank you Kostas for the vouch.
  • #8,491
  • Nov 26, 2012 4:51am Nov 26, 2012 4:51am
A failed trade. Saw 2 pin against M15.10 and Monthly PP. But failed...
Attached Image (click to enlarge)
Click to Enlarge Name: temp.gif Size: 32 KB
  • #8,492
  • Nov 26, 2012 5:00am Nov 26, 2012 5:00am
Quoting kk007
A failed trade. Saw 2 pin against M15.10 and Monthly PP. But failed...
http://www.onlinetradingconcepts.com...angingMan.html
  • #8,493
  • Nov 26, 2012 5:13am Nov 26, 2012 5:13am
Quoting kostas1
http://www.onlinetradingconcepts.com...angingMan.html
Thanks for reply , but sorry that I don't know what you want to tell.
  • #8,494
  • Nov 26, 2012 5:48am Nov 26, 2012 5:48am
Quoting kk007
Thanks for reply , but sorry that I don't know what you want to tell.
When you talked about the 2 pinbars against M15/10, I thought you mean those around 8:00 GMT. Those are NOT pinbars, they are hanging man, so no long bar pattern.
  • #8,495
  • Nov 26, 2012 6:18am Nov 26, 2012 6:18am
Quoting kostas1
When you talked about the 2 pinbars against M15/10, I thought you mean those around 8:00 GMT. Those are NOT pinbars, they are hanging man, so no long bar pattern.
They are the same thing: http://www.forextofreedom.com/pin-ba...ersal-pattern/
  • #8,496
  • Nov 26, 2012 6:42am Nov 26, 2012 6:42am
Quoting kk007
They are the same thing: http://www.forextofreedom.com/pin-ba...ersal-pattern/
If you read carefully, you will see it depends on the location. A pinbar for long is at the bottom of a trend, the same pinbar at the top is a hanging man meaning a short signal..... Anyway, no need to clutter this thread, just do some study on pinbars and you will see what I mean.
  • #8,497
  • Nov 26, 2012 6:48am Nov 26, 2012 6:48am
Anyone who understand what kostas1 means, please help me and discuss on the Dance thread http://www.forexfactory.com/showthre...81#post5504181

P.S. I understand pinbar as in the diagram below...

http://www.forextofreedom.com/wp-con...ng-Average.png
  • #8,498
  • Nov 26, 2012 9:23am Nov 26, 2012 9:23am
Anyone catches M15 Dance trade today? Seem none to me...
  • #8,499
  • Nov 26, 2012 9:55am Nov 26, 2012 9:55am
Quoting kk007
Anyone catches M15 Dance trade today? Seem none to me...
I won't trade till Wednesday, but been watching prices and seems like there were not much of a movement
On my way to financial independence - if others can do it - I can do it
  • #8,500
  • Nov 27, 2012 3:28am Nov 27, 2012 3:28am
Failed Dance trade with EJ
Attached Image (click to enlarge)
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