The 5 minute TF S&R trading system

Hey TB get 2 a week and that'll make 15- 20% a month

Not to take anything away from what you've said but this is how i see it.



1. Price is slowly moving up towards the BRN so i wait until the price gets close enough for me to cost effectively run those stops. Also i want to do this before NY Open to help possibly give direction to those orders.

2. Price gets close enough and i flood the market with markets to push price into those stops. Stops trigger and help with pushing price into my limits that i've set right above the stops. The resulting move up places little incentive or time for anyone to place a buy limit anywhere across the big bullish bar that jumped across the 3500 and as a result price has little resistance on the way down as i sell to push price down.

3. Price kind of jumps around before NY opens. But after all is said and done my friends prediction seems to be coming to pass. Price starts to move down just after NY open and coupled with the catalyst of the news report, price moves lower. All the sellers are joining up. But now there's a stall at 3470 support. No biggie because whoever is buying here probably has stops around the 3460-50 area and now i get to put on a larger position with my profits from earlier in an attempt to push price into those stops to trigger another cascade.

4. Best place to do this is at the previous channels swing low that has been crossed. Lots of people sell this setup. It also happens to be the retest of the price at NY open and lots of people sell that too. The rest kinda of speaks for itself.

5. Getting close to end of day and all the intraday traders that sold with me are taking profits....

It's to be expected. For me there's always 1 day out of the week where i don't open a trade.

GL thanks for helping to better understand why is happening what i can see on charts.

is this a failed 2b reversal?

...new to the thread. A simple, non-ambiguous and disciplined approach to generating consistent returns. Great.

Looks like another tough day. Market not swinging and lots of newa

If your thinking about selling 67 is the number

Out with +8 before news

37 looks like long area

The short at 67 was based on 123 and supply area a high probability trade in my view

FXPivots,

I want to introduce myself to the forum and tell you thank you for this excellent thread. I am new to forex. I have been demo trading multiple systems since June of 2012. I have been completly frustrated as many systems presented here are difficult to understand and trying to find a time frame that suits my style has been difficult. I notice when I backtest systems, it is good becasue I can view a a 1H or 4H chart extremely fast and than proceed to the next day. This has been good, but when I forward test the system I notice that those time frames are extremely boring and slow for me. I found your thread last night and am going to commit to studying and reviewing the system this weekend. Sorry for the excess detail abovem but thank you and I hope you dont get irritated with all the different questions that I will be asking. Thanks again

FXVegas

Welcome fxvegas study charts find the patterns ask the questions

anyone like the long @ 38 if it pulls back?

at this point price has already made an opposing 123 so i'd be looking for shorts on this.

or longs if it goes that way

You got 48 for short 38 for long I would stay away not enough room for my tastE

cheers guys