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The 5 minute TF S&R trading system

  • #3,841
  • Sep 5, 2013 7:31am Sep 5, 2013 7:31am
i was thinking 2b at the top and at 715, we were getting into the 30m before news, so stayed out here--volume on 6e is much better today
  • #3,842
  • Sep 5, 2013 7:36am Sep 5, 2013 7:36am
You are still looking at every nook and cranny there was no defined 123 just sideways action last resistance was 04
  • #3,843
  • Sep 5, 2013 7:41am Sep 5, 2013 7:41am
i was talking about the 04 pt and the 13 pt, not the small one with the 630/650 points
  • #3,844
  • Sep 5, 2013 7:45am Sep 5, 2013 7:45am
Tb my last post was to oak lol
  • #3,845
  • Sep 5, 2013 8:14am Sep 5, 2013 8:14am
Quoting fxpivots
You are still looking at every nook and cranny there was no defined 123 just sideways action last resistance was 04

I looked at it again and the 1 2 3 for Short didnt retrace 50 %

Thanks for answering
  • #3,846
  • Sep 5, 2013 8:16am Sep 5, 2013 8:16am
2b with div
  • #3,847
  • Sep 5, 2013 8:24am Sep 5, 2013 8:24am
54 long
Become the casino
  • #3,848
  • Sep 5, 2013 8:27am Sep 5, 2013 8:27am
+10 nice trade
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  • #3,849
  • Sep 5, 2013 8:28am Sep 5, 2013 8:28am
Just closed for another 2% great day
  • #3,850
  • Sep 5, 2013 8:28am Sep 5, 2013 8:28am
Quoting erasmus66
54 long

Took it also :-)
  • #3,851
  • Sep 5, 2013 8:34am Sep 5, 2013 8:34am
well done oak/fx - top trading
Become the casino
  • #3,852
  • Sep 5, 2013 8:43am Sep 5, 2013 8:43am
Very defined patterns is what we are looking for not nook and crannys
  • #3,853
  • Sep 5, 2013 9:21am Sep 5, 2013 9:21am
here's an interesting day regarding selling at higher low from jul 2011. If you sell at r1, then you make +10, whereas if you wait for r2, you never get filled. What would you have done?

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd06jul11.GIF Size: 38 KB
Become the casino
  • #3,854
  • Sep 5, 2013 9:23am Sep 5, 2013 9:23am
Quoting erasmus66
here's an interesting day regarding selling at higher low from jul 2011. If you sell at r1, then you make +10, whereas if you wait for r2, you never get filled. What would you have done? {image}

I would have taken an entry between all these possible areas and maybe get filled or not
  • #3,855
  • Sep 5, 2013 9:29am Sep 5, 2013 9:29am
Probably point 2
  • #3,856
  • Sep 5, 2013 9:41am Sep 5, 2013 9:41am
i would have waited for r2 and missed the trade - i always take the last low before the break.

oak, come up with a rule so as to eliminate any doubt at trade time
Become the casino
  • #3,857
  • Sep 5, 2013 9:42am Sep 5, 2013 9:42am
Quoting erasmus66
i would have waited for r2 and missed the trade - i always take the last low before the break. oak, come up with a rule so as to eliminate any doubt at trade time

What do you mean?
  • #3,858
  • Sep 5, 2013 9:49am Sep 5, 2013 9:49am
No rules no consistancy
  • #3,859
  • Sep 5, 2013 9:53am Sep 5, 2013 9:53am
Quoting fxpivots
No rules no consistancy

What about having 2 positions?
  • #3,860
  • Sep 5, 2013 9:56am Sep 5, 2013 9:56am
That would be adding a rule but if rhats what you want to do then set it in stone and dont change
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