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The 5 minute TF S&R trading system

  • #4,461
  • Oct 28, 2013 10:41am Oct 28, 2013 10:41am
I think there were a few ll lh like when price took out last low and made low of the day.. today we were in a 20 pip high to low range then price broke low and made a new low for today then came baxk to that low and went down for a win I think snail put a chart up on that
  • #4,462
  • Oct 28, 2013 6:29pm Oct 28, 2013 6:29pm
Quoting erasmus66
hi fx, great job with pdf - the only things i can think of are double scenario and higher low/lower high entry points

Nope, only thing besides an explanation of 'Double scenario is that you forgot to mention that you only trade the EU, but that this works on other pairs and other time frames, though on higher time frames, you might want wider stops and bigger targets, depending on pair. Testing is required.

Always a good thing to write down your trading plan, what ever it is.

Good job FX, thanks.
  • #4,463
  • Oct 29, 2013 2:03am Oct 29, 2013 2:03am
Quoting fxpivots
Did I leave anything out of the pdf?
Thanks for the PDF. I've delurked to ask for some clarification.

The chart for 8 Oct is confusing me. The trend is up because 1.35796 was broken at 12:30 (your broker time), right? Shouldn't the system make us wait for two closes below the new high of 1.35871 at 12:30, which we get at the 12:40 candle close?
  • #4,464
  • Oct 29, 2013 3:35am Oct 29, 2013 3:35am
anyone take the 69 short?

sorry, that low goes back to yesterday - my mistake
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  • #4,465
  • Oct 29, 2013 4:01am Oct 29, 2013 4:01am
got it at 71, out +10. Looks like a pretty big 123 forming
  • #4,466
  • Oct 29, 2013 4:04am Oct 29, 2013 4:04am
nice work sossos well done
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  • #4,467
  • Oct 29, 2013 4:25am Oct 29, 2013 4:25am
hi kopite, double scenario is where there are 2 opposing signals at the same time, e.g.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd08mar2012.GIF Size: 45 KB
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  • #4,468
  • Oct 29, 2013 4:31am Oct 29, 2013 4:31am
Careful of the news today. 3 red at 8:30 and 1 at 10:00, all eastern
  • #4,469
  • Oct 29, 2013 5:39am Oct 29, 2013 5:39am
Quoting erasmus66
hi kopite, double scenario is where there are 2 opposing signals at the same time, e.g. {image}

Cheers Erasmus.

Not sure the 123 is for me, prefer to trade a pullback afterwards. After all, the prior trend is always against taking the initial break.
  • #4,470
  • Oct 29, 2013 5:44am Oct 29, 2013 5:44am
I think this may be one of the double scenarios he was just showing
  • #4,471
  • Oct 29, 2013 5:49am Oct 29, 2013 5:49am
If not for news that 123 at bottom break and pullback would be fine
  • #4,472
  • Oct 29, 2013 7:05am Oct 29, 2013 7:05am
Geez, that 9:00 bar is a banker dream, clear stops on both ends and don't even feel guilty about it, blaming it on the news
  • #4,473
  • Oct 29, 2013 7:33am Oct 29, 2013 7:33am
I will buy 70 if it comes back
  • #4,474
  • Oct 29, 2013 5:25pm Oct 29, 2013 5:25pm
Quoting fxpivots
I will buy 70 if it comes back

Did you take 70 long?
  • #4,475
  • Oct 29, 2013 7:23pm Oct 29, 2013 7:23pm
It did not come back before 11 am
  • #4,476
  • Oct 29, 2013 10:49pm Oct 29, 2013 10:49pm
Quoting fxpivots
It did not come back before 11 am

It was there at 10:50 ;-)
  • #4,477
  • Oct 30, 2013 3:06am Oct 30, 2013 3:06am
good morning oak, it was 11:50 est yesterday - we've gone back an hour and usa hasn't yet
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  • #4,478
  • Oct 30, 2013 3:25am Oct 30, 2013 3:25am
Quoting erasmus66
good morning oak, it was 11:50 est yesterday - we've gone back an hour and usa hasn't yet

Ok hehe Thanks :-)
  • #4,479
  • Oct 30, 2013 3:58am Oct 30, 2013 3:58am
We change over this weekend to standard time. We will fall back an hour, Nov. 1
  • #4,480
  • Oct 30, 2013 5:57am Oct 30, 2013 5:57am
cheers sossos - we went back last sunday
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