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Genuine 5m 4R/R system

  • #221
  • Jun 4, 2014 1:49am Jun 4, 2014 1:49am
Aaaaaaaand stopped out on AUD/CHF too... sigh...
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  • #222
  • Jun 4, 2014 1:51am Jun 4, 2014 1:51am
Quoting rifid
I saw that green candle forming just before the news and brought my S/L down half way, so i got 10pips anyway, 4%, better than nothing
Good move! I saw the same but didn't know what to do - lost 4.6pips on slippage. Which isn't too bad I think.
  • #223
  • Jun 4, 2014 1:55am Jun 4, 2014 1:55am
Quoting Spiritwalker
Aaaaaaaand stopped out on AUD/CHF too... sigh...
Slow down man ,wait for the good setups, that one on the GP is what your looking for ......a consolidation of a longer trend, look for your Point to point then set orders and wait, Easy
patience is bitter, but its fruit is sweet
  • #224
  • Jun 4, 2014 2:10am Jun 4, 2014 2:10am
Looking to enter UJ short at 102.58. This one appears to be setting up as per rifid "textbook model"
  • #225
  • Jun 4, 2014 2:37am Jun 4, 2014 2:37am
Quoting PipsiKoala
Looking to enter UJ short at 102.58. This one appears to be setting up as per rifid "textbook model"
Not quite Pips, the gp/us just before and the U/J earlier today {post 191 and 190} are text book setups. They are not as common but they nearly always work,Patience my good man? try not to be trigger happy,
patience is bitter, but its fruit is sweet
  • #226
  • Jun 4, 2014 2:48am Jun 4, 2014 2:48am
Quoting austin85cold
hey rifid.. incase we take the UJ short trade, what tgt would you suggest???
Sorry Austin didnt see your post there, up to you but i would be a little more patient on this trade, it is not a neat setup and you will encounter resistence all the way down.On the hour it is still in a strong uptrend
patience is bitter, but its fruit is sweet
  • #227
  • Jun 4, 2014 2:50am Jun 4, 2014 2:50am
Quoting rifid
{quote} Sorry Austin didnt see your post there, up to you but i would be a little more patient on this trade, it is not a neat setup and you will encounter resistence all the way down.On the hour it is still in a strong uptrend
Agreed... I am still holding longs on USD/JPY for the moment... Think we'll see more definite movement around 2:00pm... Or rather - when US opens...
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  • #228
  • Jun 4, 2014 2:52am Jun 4, 2014 2:52am
Also looking at possible long setup on AUD/USD... Orders @ 0.92781 & 0.92820... For now...
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  • #229
  • Jun 4, 2014 2:56am Jun 4, 2014 2:56am
Quoting rifid
{quote} Sorry Austin didnt see your post there, up to you but i would be a little more patient on this trade, it is not a neat setup and you will encounter resistence all the way down.On the hour it is still in a strong uptrend
Thanx for replying.. So to make a valid setup, the trade has to be with the trend and not a retracement??
  • #230
  • Jun 4, 2014 3:35am Jun 4, 2014 3:35am
Possible setup if not making higher high.
Attached Image (click to enlarge)
Click to Enlarge Name: euraudm5.png Size: 25 KB
  • #231
  • Jun 4, 2014 3:48am Jun 4, 2014 3:48am
Quoting pipmunks
Possible setup if not making higher high. {image}
you could try a long there
patience is bitter, but its fruit is sweet
  • #232
  • Jun 4, 2014 3:50am Jun 4, 2014 3:50am
Quoting rifid
{quote} you could try a long there
oops to late already gone
patience is bitter, but its fruit is sweet
  • #233
  • Jun 4, 2014 3:53am Jun 4, 2014 3:53am
FWIW - I've added to USD/JPY longs @ 102.677...
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  • #234
  • Jun 4, 2014 3:56am Jun 4, 2014 3:56am
Quoting rifid
{quote} you could try a long there
The last high was lower by 0.5p at my broker feed. Is that OK? As I remember the rule is the 2nd point may be higher (not lower) for buying setup.
  • #235
  • Jun 4, 2014 3:59am Jun 4, 2014 3:59am
Hello, all.
This is my first post in this forum and I am interested in this trading method. This is what I draw on EURAUD. Didn't trade it because the resistance is on the way to 20pips.
Is it the right 1?

Now it's triggered but I didn't take it.
Attached Image (click to enlarge)
Click to Enlarge Name: 20140604-EURAUD.png Size: 25 KB
  • #236
  • Jun 4, 2014 4:09am Jun 4, 2014 4:09am
Quoting pipmunks
{quote} The last high was lower by 0.5p at my broker feed. Is that OK? As I remember the rule is the 2nd point may be higher (not lower) for buying setup.
You are allowed a little leeway if it is a REALLY good setup, you dont want to let 8% slip by because of a bit of a pip do you
patience is bitter, but its fruit is sweet
  • #237
  • Jun 4, 2014 4:37am Jun 4, 2014 4:37am
Quoting mc19
Hello, all. This is my first post in this forum and I am interested in this trading method. This is what I draw on EURAUD. Didn't trade it because the resistance is on the way to 20pips. Is it the right 1? Now it's triggered but I didn't take it. {image}
If resistence is 5pips away from your entry,i wouldnt take the trade, if it is 10 or more you can take the trade but manage your stop if it looks like it cant break thru
patience is bitter, but its fruit is sweet
  • #238
  • Jun 4, 2014 5:05am Jun 4, 2014 5:05am
Quoting rifid
{quote} If resistence is 5pips away from your entry,i wouldnt take the trade, if it is 10 or more you can take the trade but manage your stop if it looks like it cant break thru
Ok, it is like the trade on GU today. Need more practice. Thx.
  • #239
  • Jun 4, 2014 5:09am Jun 4, 2014 5:09am
Good day all. EUR/USD ?
  • #240
  • Jun 4, 2014 5:11am Jun 4, 2014 5:11am
Going to be an interesting 30 minutes for my USD/CAD & USD/JPY longs... gotta love it...
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