The 5 minute TF S&R trading system

Another one here

Hi Omidak, keep in mind that we don't trade 123 or 2b pattern right after the break. We wait a minimum of two candles to close below or above the break and then trade once price retraces back to the break area then we make a trade. The last 6 or 7 pages have plenty of charts which illustrate this trading method. I highly recommend you to read the whole thread and pay attention to all of fxpivots posts. This method isn't about quantity of signals but quality. We may go days or even weeks without making a single trade. We are looking for clear A+ setups. Happy Pipping.

We had 2 senarios a 123 break and a long at 15 the rule is take which ever comes first in thia case the 15 long happened first and went in to target

I wouldn't have thought the 15 was a high probability trade since a short was at 22, so not much room

I saw short at 244 so I could have gotten at least 2% but it just flew by

When we have 2 possible senarios present if 2%can be achieved then take which ever one triggers first.

fx, the 123 reversal entry happens before the long - which one should we take?

The break happened but the long triggered first. If it closed twice below 2 point and pulled back before long you would have went short. Right now 17 is the number to short

fx, think my graph is slighltly different to yours:

I would bail no follow threw

Erasmus line chart has point 2 at 244

yes, sorry fx my graphing is messed up - you're right. Just to confirm for 123 reversal to trigger would require 2 consecutive closes of at least 1 tick below point 2?

Full pip if that's what you mean by tick

yes, cheers fx - much appreciated

I shorted at 17... it was a loss wasnt it ?
my stop was just above point 3 and was triggered.
I try to undrestand if i made a mistake or it was a loss.

if stop was 13pips, should have been fine, it only went to 26 (so 9 against you)

When putting on a trade regardless of which setup it is stop is always 13

thank you for the answer.