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The 5 minute TF S&R trading system

  • #2,021
  • Feb 12, 2013 7:17am Feb 12, 2013 7:17am
short @ 1.34850 This is what I meant FX - loser again and do not know why....
  • #2,022
  • Feb 12, 2013 7:25am Feb 12, 2013 7:25am
If it's a clear 123 and there's room to hit target I take it. Also I don't take second shots are old 123s that have triggered and won
  • #2,023
  • Feb 12, 2013 7:36am Feb 12, 2013 7:36am
Short 3485 how's that snail?
  • #2,024
  • Feb 12, 2013 7:48am Feb 12, 2013 7:48am
In a 30 pip range I will wait for it to trend then wait form confirmation that it's a true break
  • #2,025
  • Feb 12, 2013 7:53am Feb 12, 2013 7:53am
Quoting fxpivots
Short 3485 how's that snail?
That was closest lower low after that abc.
  • #2,026
  • Feb 12, 2013 7:54am Feb 12, 2013 7:54am
Price hasn't reached 3485 the whole day
  • #2,027
  • Feb 12, 2013 8:03am Feb 12, 2013 8:03am
Quoting snail69
That was closest lower low after that abc.
We lookin at the same charts?
  • #2,028
  • Feb 12, 2013 8:06am Feb 12, 2013 8:06am
Quoting fxpivots
Price hasn't reached 3485 the whole day
Sorry 34385
  • #2,029
  • Feb 12, 2013 8:07am Feb 12, 2013 8:07am
Thats my question g l high was 3462 ok got it. Well price was trickling down secondly it wasnt swinging so when price pulls away there wasnt room to hit target
  • #2,030
  • Feb 12, 2013 8:19am Feb 12, 2013 8:19am
Quoting fxpivots
Thats my question g l high was 3462 ok got it. Well price was trickling down secondly it wasnt swinging so when price pulls away there wasnt room to hit target
Do I understand it correctly ?

When abc, not important distance of move. Afterwards better to be around 13 pips ?
  • #2,031
  • Feb 12, 2013 8:28am Feb 12, 2013 8:28am
short 3430

edit: bailed out at form of pinbar.....chicken-foot
  • #2,032
  • Feb 12, 2013 8:33am Feb 12, 2013 8:33am
Quoting fosters
short 3430
I took the long from 34129 up to 34290 but didn't re-enter for the opposite direction. To many distractions at work.
  • #2,033
  • Feb 12, 2013 8:40am Feb 12, 2013 8:40am
I took short at 29 got out with another plus 10 for 2%
  • #2,034
  • Feb 12, 2013 8:41am Feb 12, 2013 8:41am
Quoting fxpivots
I took short at 29 got out with another plus 10 for 2%
Would have done the same.
  • #2,035
  • Feb 12, 2013 8:47am Feb 12, 2013 8:47am
Hey G L why long at 129 was that a 1 minute demand level
  • #2,036
  • Feb 12, 2013 8:50am Feb 12, 2013 8:50am
Anyone else get in on the short at 29
  • #2,037
  • Feb 12, 2013 8:52am Feb 12, 2013 8:52am
Quoting fxpivots
Hey G L why long at 129 was that a 1 minute demand level
That plus it was yesterdays london close AND there was confirmation in the form of a spike up when price reached the level.
  • #2,038
  • Feb 12, 2013 8:54am Feb 12, 2013 8:54am
Quoting Good Lookin
I took the long from 34129 up to 34290 but didn't re-enter for the opposite direction. To many distractions at work.
GL why long from there ?
  • #2,039
  • Feb 12, 2013 9:00am Feb 12, 2013 9:00am
Quoting fxpivots
Anyone else get in on the short at 29
Not me, last LL was 3440. A while ago I entered at similar level , price continued to abc (b) stopped me out then went down.

This time it did not. It is a loterry to me.
  • #2,040
  • Feb 12, 2013 9:06am Feb 12, 2013 9:06am
Quoting snail69
Do I understand it correctly ?

When abc, not important distance of move. Afterwards better to be around 13 pips ?
Snail,

Before you look for the 123 you have to take into consideration the general picture.

You took a short into the PIVOT trade of yesterdays high. Don't take a trade into a level where there's a fair chance it may bounce. If your certain it will work then go for it, otherwise this is what being selective is all about.

You have to think of it like this, the market doesn't always care about a 123 or an abc. It doesn't always care about a high or a low or even an open or a close. It's your job to figure out the price the market does care about and trade it in hopes that your trading in the correct direction. The only thing that moves price consistantly is orders.

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