Hey billy a word of advice don't chase money let it come to yiu will increase your winning %
The 5 minute TF S&R trading system
I decided not to post the SD trades i take here. I was already questioning wether i should post it or not, i don't want to sidetrack the info in this thread. Now that FXpivots posted i'll keep it clean. Also, there are plenty of other resources to learn SD here on FF and the internet.
So anyhow, here's what the charts looked like too me this morning. This is what i look at for when i look at the pivot trades.
So anyhow, here's what the charts looked like too me this morning. This is what i look at for when i look at the pivot trades.
- #1,404
- Dec 27, 2012 10:43am Dec 27, 2012 10:43am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #1,408
- Edited 11:59am Dec 27, 2012 11:33am | Edited 11:59am
Hi All,
As I said I am not taking any live trades until after Jan 2.
I am seeing consolidation.
We have a small break with closes below.
BUT, this is trying to make pudding out of @#$%.
Not the convincing type break fxpivots is talking about.
I would probably wait for a deeper break then retest.
Thoughts or comments?
LOL, as I post this price has dropped 17 pips.
What will happen?!
Here is the following price action.
I was looking at GL's chart analysis from yesterday and the possible next entry would seem a better setup than the first retest.
I don't know if it is just a confidence thing or not?
I read earlier in the thread fxpivots saying be selective. Look for a clear setup.
As I said I am not taking any live trades until after Jan 2.
I am seeing consolidation.
We have a small break with closes below.
BUT, this is trying to make pudding out of @#$%.
Not the convincing type break fxpivots is talking about.
I would probably wait for a deeper break then retest.
Thoughts or comments?
LOL, as I post this price has dropped 17 pips.
What will happen?!
Here is the following price action.
I was looking at GL's chart analysis from yesterday and the possible next entry would seem a better setup than the first retest.
I don't know if it is just a confidence thing or not?
I read earlier in the thread fxpivots saying be selective. Look for a clear setup.
Attitude can reflect outcome in life and trading!
- #1,413
- Dec 27, 2012 7:22pm Dec 27, 2012 7:22pm
- Joined Jan 2010 | Status: Trader | 2,021 Posts
Today, had set ups with swings less then 10 pips. In that case you put your stop at 10 as minimum and aim for 20 ?
All depends on where the level is and what type. When i have some time i'll throw up a chart or two explaining what is done.[/quote]
GL , will be looking to seeing your charts.
Somehow, do not understand how to notice what makes midpivot.
All depends on where the level is and what type. When i have some time i'll throw up a chart or two explaining what is done.[/quote]
GL , will be looking to seeing your charts.
Somehow, do not understand how to notice what makes midpivot.
- #1,415
- Edited 3:46am Dec 28, 2012 1:51am | Edited 3:46am
- Joined Jan 2010 | Status: Trader | 2,021 Posts
Let's see how this ends. - in loss 
FXPivots: " I consider a good take out to be 12 + pips trying to hit target of 15 or 3% without having an adjusted target. "
Well it was not that good take out... my bad. Got wacked by a fake breakout.
FXPivots: " I consider a good take out to be 12 + pips trying to hit target of 15 or 3% without having an adjusted target. "
Well it was not that good take out... my bad. Got wacked by a fake breakout.
- #1,417
- Dec 28, 2012 3:07am Dec 28, 2012 3:07am
Just took this one. Decided to take it on live account.
Went very quick.
10 pips = 3%
Strong break of consolidation and a previous level with a small pullback/ stall.
Market order so I got in a few pips late.
Went very quick.
10 pips = 3%
Strong break of consolidation and a previous level with a small pullback/ stall.
Market order so I got in a few pips late.
Attitude can reflect outcome in life and trading!
- #1,420
- Dec 28, 2012 3:48am Dec 28, 2012 3:48am
Same here, nice one Krmo.
I would also like to better understand the trading of the Divergence of the 2B points too.
Or better said: when NOT to trade them.
I have here also Highlighted the Divergence, but it didn't work right.
Who of you wouldn't trade that and mostly important: why ?
Thanks for this interesting thread.
Divergence just adds to the strength of 2b.
Divergence in and of itself is not anything other than a heads up that something MAY happen.
In your example the penetration held so no action.
Hope that helps!
Attitude can reflect outcome in life and trading!