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The 5 minute TF S&R trading system

  • #4,681
  • Nov 17, 2013 11:11am Nov 17, 2013 11:11am
Quoting Oakwoodinc
{quote} The very first Trade is not a setup that goes along with the rules of this system here I dont see the 2 full closing candles in a row with at least 1 pip away from point 2
Hi Oakwoodinc,
Thank you for feedback,
I am still newbie so any comment is valuable for me...

Trade nr 1 was taken IMO according rules form FXpivots information about Tops and Bottoms catching

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my trade has two candles opened and closed above S/R...

Attached Image


saying full closing you mean high and low of the candle? Can you please expalin what does it mean full closing, please?
Thanks in advance...
JacekPreserve Precious Capital
  • #4,682
  • Nov 17, 2013 11:32am Nov 17, 2013 11:32am
Guys, comment on that setup please:


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  • #4,683
  • Nov 17, 2013 11:42am Nov 17, 2013 11:42am
Quoting Jackub
{quote} Hi Oakwoodinc, Thank you for feedback, I am still newbie so any comment is valuable for me... Trade nr 1 was taken IMO according rules form FXpivots information about Tops and Bottoms catching {image} my trade has two candles opened and closed above S/R... {image} saying full closing you mean high and low of the candle? Can you please expalin what does it mean full closing, please? Thanks in advance...
Full closing means for a Long trade that the Low of the 2 candles fully closing above Point 2 has to be at least 1 Pip away from Point 2.


Here is a explanation for a short trade:

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  • #4,684
  • Nov 17, 2013 11:54am Nov 17, 2013 11:54am
Quoting Oakwoodinc
{quote} Full closing means for a Long trade that the Low of the 2 candles fully closing above Point 2 has to be at least 1 Pip away from Point 2. Here is a explanation for a short trade: {image}
Thanks !!
JacekPreserve Precious Capital
  • #4,685
  • Nov 17, 2013 1:27pm Nov 17, 2013 1:27pm
Quoting erasmus66
good month fx - well done. I had quite a few extra trades in oct: {image} {image} {image} {image} {image} {image} {image} {image} {image} {image}

That 4th October Trade wasnt a win

How did u analyse that? Price only moved 5 pips
  • #4,686
  • Nov 18, 2013 1:43am Nov 18, 2013 1:43am
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  • #4,687
  • Nov 18, 2013 3:51am Nov 18, 2013 3:51am
may 10 pips trade today ... AU
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JacekPreserve Precious Capital
  • #4,688
  • Nov 18, 2013 6:23am Nov 18, 2013 6:23am
18 long if nothing changes
Become the casino
  • #4,689
  • Nov 18, 2013 7:13am Nov 18, 2013 7:13am
31 long
Become the casino
  • #4,690
  • Nov 18, 2013 7:35am Nov 18, 2013 7:35am
be
Become the casino
  • #4,691
  • Nov 18, 2013 7:57am Nov 18, 2013 7:57am
Quoting erasmus66
31 long

That was a Double Scenario without enough room
  • #4,692
  • Nov 18, 2013 8:23am Nov 18, 2013 8:23am
Quoting Oakwoodinc
{quote} That was a Double Scenario without enough room
I think any trade can me a Double Scenario, the pullback can actually be point 2 in any trade and we get to a lucky buy or sell.
  • #4,693
  • Nov 18, 2013 8:30am Nov 18, 2013 8:30am
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Become the casino
  • #4,694
  • Edited 10:56am Nov 18, 2013 10:40am | Edited 10:56am
Quoting erasmus66
{image}

I understand that explanation of how you see a 2B but when you have 2 spikes like on this setup you rather wait for a better setup i think.

I also noticed sometimes its better so go to the 1min chart to see if its a 1 2 3 , you see it easily on this one.

What is the difference between these two setups, can u answer it:

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By the way, the high you marked was at 1,35298 + Spread is about 1,35316 and price only went up one pip

What price did u get filled and how did u manage to get out BE there?

Thanks for answering
  • #4,695
  • Nov 18, 2013 12:18pm Nov 18, 2013 12:18pm
different brokers i guess oak - just got lucky on exit

can't find the area you're looking at on the 15th - can you re-post with y axis price scale
Become the casino
  • #4,696
  • Edited 1:23pm Nov 18, 2013 12:38pm | Edited 1:23pm
Quoting erasmus66
different brokers i guess oak - just got lucky on exit can't find the area you're looking at on the 15th - can you re-post with y axis price scale

The left chart is GBP USD on the 15 h and on the rigth is EUR USD from today

Here Details specially for you :-)

You can see the clear retest on GBP/USD instead of the unclear one at EUR/USD

Hopefully thats a good explanation of what a clear retest means.


EUR/USD:

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GBP/USD:

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  • #4,697
  • Edited Nov 19, 2013 12:13am Nov 18, 2013 11:40pm | Edited Nov 19, 2013 12:13am
Quoting spike00spieg
{quote} I think any trade can me a Double Scenario, the pullback can actually be point 2 in any trade and we get to a lucky buy or sell.
Look at the two examples above.

Not every setup is a DS, there is a clear difference in my eyes

Here another exmple of a clear retest GBP/USD from today :

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  • #4,698
  • Nov 20, 2013 12:23am Nov 20, 2013 12:23am
Example clear Retest EUR /USD this morning:

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  • #4,699
  • Nov 20, 2013 2:13am Nov 20, 2013 2:13am
Good morning oak, nice signal but right before german ppi
Become the casino
  • #4,700
  • Nov 20, 2013 3:03am Nov 20, 2013 3:03am
My thoughts on EUR/USd this morning:


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