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The 5 minute TF S&R trading system

  • #3,101
  • Jul 14, 2013 4:54am Jul 14, 2013 4:54am
Quoting tbjohnton
oak--go to the paperclip at the top of the page, click on it, scroll down to image attachments, then click on uploader (this will arrange the attachments by who uploaded them), study the charts that fxpivots has posted--start with the ones at the beginning of the thread, this should clear things up for you
Thanks for the reply my friend.

I understand everything but i am just wondering what to do when i dont have those 2 closes below/above Point 2, do i wait for the next 2 bars two close below/above the same point or do i let this setup go then?

That what was exactly happened on teh chart i posted.

Can you tell me something about that or how you handle it?
  • #3,102
  • Jul 14, 2013 9:49am Jul 14, 2013 9:49am
Short answer is let it go sine that probably means there's no trend but with study u may see that it's still a great level of s/r and worthy of a trade
  • #3,103
  • Jul 14, 2013 9:53am Jul 14, 2013 9:53am
Quoting tbjohnton
Short answer is let it go sine that probably means there's no trend but with study u may see that it's still a great level of s/r and worthy of a trade
Thanks for the answer

One more thing, if one of the candles that closes above Point 2 also touches price of point 2 do you still take that setup?

I read earlier in this thread that the 2 candles closing above should not touch the price of Point 2 , am i correct?
  • #3,104
  • Jul 14, 2013 2:03pm Jul 14, 2013 2:03pm
oak get accustomed to using linr charts so when we get 2 closes line charts only give you closes
  • #3,105
  • Jul 14, 2013 2:14pm Jul 14, 2013 2:14pm
Quoting erasmus66
also, did you pick up this loss on the 13th: {image}
no that was news candles when price took out 2 point of 2b that's where I entered long
  • #3,106
  • Jul 14, 2013 3:58pm Jul 14, 2013 3:58pm
Quoting fxpivots
oak get accustomed to using linr charts so when we get 2 closes line charts only give you closes
I understand that but didnt you wirte earlier in the thread that those 2 candles closing above/below are not suppose to touch point 2 or is this not relevant anymore since we use only line charts?
  • #3,107
  • Jul 14, 2013 9:47pm Jul 14, 2013 9:47pm
When i switched to line charts that rule changed
  • #3,108
  • Edited 1:35am Jul 15, 2013 12:05am | Edited 1:35am
Quoting fxpivots
When i switched to line charts that rule changed
Thanks for the answer.


I have just have one problem, i use Metatrader and when i turn on the line chart and compare it with the close prices of the bar chart i dont get the same prices for the close, do you know the reason for that?

Do you use Linechart on Closeprices, right?
  • #3,109
  • Jul 15, 2013 12:36am Jul 15, 2013 12:36am
Hello everybody,

is this a valid setup:

http://s7.directupload.net/images/130715/bsp244q4.jpg
  • #3,110
  • Jul 15, 2013 6:02am Jul 15, 2013 6:02am
No thats sideways action
  • #3,111
  • Jul 15, 2013 6:56am Jul 15, 2013 6:56am
Is that a valid setup from today:
Attached Image (click to enlarge)
Click to Enlarge Name: afytnjmz.jpg Size: 133 KB
  • #3,112
  • Jul 15, 2013 6:59am Jul 15, 2013 6:59am
seems like 1.3021.
but news coming out in 30mins time
  • #3,113
  • Jul 15, 2013 7:02am Jul 15, 2013 7:02am
yes, will hold off until news comes out as well David
Become the casino
  • #3,114
  • Jul 15, 2013 7:18am Jul 15, 2013 7:18am
Oak you need to train your eyes to see when market is trending and whwn its not
  • #3,115
  • Jul 15, 2013 7:26am Jul 15, 2013 7:26am
Quoting fxpivots
Oak you need to train your eyes to see when market is trending and whwn its not
You were saying that setup should be taken only at the end of trends.

EUR/USD was trending down and then this reversal came.

What exactly was wrong in your eyes with the setup?

Thanks a lot
  • #3,116
  • Jul 15, 2013 7:32am Jul 15, 2013 7:32am
Quoting erasmus66
yes, will hold off until news comes out as well David
phew, eurusd got blown off
  • #3,117
  • Jul 15, 2013 7:33am Jul 15, 2013 7:33am
Is this a valid setup:
Attached Image (click to enlarge)
Click to Enlarge Name: 5sdjtced.jpg Size: 132 KB
  • #3,118
  • Jul 15, 2013 7:41am Jul 15, 2013 7:41am
de line connecting the divergence shld be point 1 and 3
  • #3,119
  • Jul 15, 2013 7:53am Jul 15, 2013 7:53am
Quoting david1234
de line connecting the divergence shld be point 1 and 3
Hey David,

there is a pic of fxpivots where he describes a setup with not the divergence being point 1 and 3 but like i did it.

You mean the 2B-pattern directly without a 123 follow up liek i did it, right?

Can anybody comment an that please?

Thanks guys
  • #3,120
  • Jul 15, 2013 9:44am Jul 15, 2013 9:44am
45 short if it comes back clean
Become the casino
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