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Genuine 5m 4R/R system

  • #481
  • Jun 8, 2014 9:50pm Jun 8, 2014 9:50pm
Quoting avgjoe
{quote} Question on this one, the second retracement is bigger than the first. Does that matter? Thanks,
Your right it is not the neatest set up but the last retracement is lower than the one before. A discretionary trade that looks like it will pay off.
Just remember once you get profficient with this system you will just get a feeling for good and bad trades, and with a 4/r/r you are allowed a few mistakes
patience is bitter, but its fruit is sweet
  • #482
  • Jun 8, 2014 9:52pm Jun 8, 2014 9:52pm
Quoting avgjoe
NZD/USD looks good long...Thoughts?
seems to fill entry criteria , market is slow moving ATM and may want to retrace before moving on
patience is bitter, but its fruit is sweet
  • #483
  • Jun 8, 2014 10:21pm Jun 8, 2014 10:21pm
NZDUSD formed a bearish pinbar on daily last friday and seems bearish on longer term time frames. Is at a strong resistance currently, so may turn back down. BE careful there.
  • #484
  • Jun 8, 2014 10:24pm Jun 8, 2014 10:24pm
there seems one setup on AUDUSD, rules do fit perfectly for M5 but looks very good on M1.
  • #485
  • Jun 8, 2014 10:25pm Jun 8, 2014 10:25pm
seems good on M5 now too. Watch this one.
  • #486
  • Jun 8, 2014 10:32pm Jun 8, 2014 10:32pm
here is the chart of above setup. Just ignore the go short @0.9324. Its for other purposes
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5.png Size: 21 KB
  • #487
  • Jun 8, 2014 11:36pm Jun 8, 2014 11:36pm
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 33 KB

Keep an eye on this one, already formed 3 inline points, see if it comes back up to it and gives a nice entry
patience is bitter, but its fruit is sweet
  • #488
  • Jun 8, 2014 11:40pm Jun 8, 2014 11:40pm
I see a couple of other possibilities, but i cant do all the work for you, if you see something of interest ,post it and we can discuss
patience is bitter, but its fruit is sweet
  • #489
  • Jun 8, 2014 11:49pm Jun 8, 2014 11:49pm
Good morning guys... Just got into the office, and I'm sooooo ready for some market play this week... Hope those of you who traded Asian and Aussie sessions so far had some good trades...

PS - I see there are quite a few bank holidays, so might slow some pairs down...
Itchy Spirit Return This Year: na
  • #490
  • Jun 8, 2014 11:53pm Jun 8, 2014 11:53pm
Quoting Spiritwalker
Good morning guys... Just got into the office, and I'm sooooo ready for some market play this week... Hope those of you who traded Asian and Aussie sessions so far had some good trades... PS - I see there are quite a few bank holidays, so might slow some pairs down...
Good morning Spiritwalker, there was a discretionary trade on the eu/au, that won ,dont know if anyone was in it though, i didnt spot it until after it triggered
patience is bitter, but its fruit is sweet
  • #491
  • Jun 9, 2014 12:15am Jun 9, 2014 12:15am
I'm watching this one
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym5.png Size: 51 KB
In the end its just a stupid numbers game
  • #492
  • Edited 12:32am Jun 9, 2014 12:18am | Edited 12:32am
Quoting danzka
I'm watching this one {image}
Yep that was one ,and already triggered, not well lined up points though
patience is bitter, but its fruit is sweet
  • #493
  • Jun 9, 2014 12:24am Jun 9, 2014 12:24am
Quoting rifid
{quote} Yep that was one ,and already triggered, not well lines up points though

mine not triggered yet

edit: mine triggered just now, with SL of 4 pips and target @139.5, really love that super small SL
In the end its just a stupid numbers game
  • #494
  • Jun 9, 2014 12:32am Jun 9, 2014 12:32am
Quoting driven18
Hello, let me get into this....please let me know if long looks good as it breaks green line {image}
Rifid , do you like that set up or not...eventually it was a looser...but would you have taken it? see image ...


and can you explained "not well lined up points" in the post 491...
  • #495
  • Jun 9, 2014 12:33am Jun 9, 2014 12:33am
for my trading I have added another rule which is I will close the opened trade if price doesn't move in 1 hour
for me breakout should be fast
but its just me though, I believe the original Rifid's is good enough
In the end its just a stupid numbers game
  • #496
  • Jun 9, 2014 12:35am Jun 9, 2014 12:35am
poss.on the g/j 3 pointer against the longer term trend
patience is bitter, but its fruit is sweet
  • #497
  • Jun 9, 2014 12:37am Jun 9, 2014 12:37am
Quoting danzka
for my trading I have added another rule which is I will close the opened trade if price doesn't move in 1 hour for me breakout should be fast but its just me though, I believe the original Rifid's is good enough
Good point ,you want be trading in fast active markets to get best results
patience is bitter, but its fruit is sweet
  • #498
  • Jun 9, 2014 12:46am Jun 9, 2014 12:46am
Possible setup?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpymm5.png Size: 24 KB
  • #499
  • Jun 9, 2014 12:50am Jun 9, 2014 12:50am
just got back guys..
eur/jjpy and gbp/jpy looking good for short.
maybe too late
cheers
  • #500
  • Jun 9, 2014 1:16am Jun 9, 2014 1:16am
finally it got there...
too bad I missed the bus!
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdm5.png Size: 40 KB
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