The 5 minute TF S&R trading system

+15 today

GJ sir, i see your style is evolving

. First Vegas not understanding your trade. We trade of 5 min we use 2b to go other way you need to clarify what your doing. Snail I never enter on news candle but what follows. Price had a closing high was 09 price pulled back then news candle made high of 27 so there's enough room to hit target price pulled back and the rear wax history HERE IS CHARTS

Entry after pullback from high of news candle. I did that way. Wanted to clarify whether understand this part correct. Thanks for clarification.

Thanks Snail and FXPips,

I will detail what I am doing and help me understand how I can improve. I truly appreciate your help and have been trying to get caught up on the thread. It is extremely diffucult to replicate the same type of trading style when I review the charts that you two have posted. I need to spend a lot of time backtesting and forward testing the system to help me see what you two are seeing. I hope you dont mind if I post a couple outdated charts as I backtest the system to help me understand. Also, I wanted to get your thoughts on higher time frame analysis. I know that many traders like to look to higher time frames to get the market trend and then use the lower time frames to get into the trade. Do you use the same type of analysis or do you pull up only the 5M chart and dont worry about what is happening on higher TF's. Thanks again!!!

hi all,

took buy on EU 5min ago.
the price just jumped up!!!

awesome!

J

I did not take the long at 86 because we had 2 123s which means consolidation and break of point 2 was only 8 pips

I took 807 GL style long, then extension is almost 14 pips.

Closed at BE

If nothing changes I will sell at 75

Well no entry crappy week did manage to make 2% so it's not a total loss

and nice weekend

Will sell at 03 unless something changes

1.3303 short; that was a very quick +15

And what happened after ???

italian election polls released

Interesting senario my 03 short was not hit but my 89 long was hit had no idea italian election was happening very fortunate

FX can you please advise reasoning of 89 long after 123 above ? Thanks.

Ok we we're in uptrend last higher high before we went up to top then we got a 123 break pullback some got triggered at 03 mine didn't but the area that the chart says to me where we full get a bounce is 89

long 1.30872 GL style entry: +15 ( thank you GL for showing the way) (including trade management)

Will short if it comes back to 86