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Genuine 5m 4R/R system

  • #681
  • Jun 10, 2014 8:46pm Jun 10, 2014 8:46pm
Quoting deanoracer
My first post on this thread... First - Many thanks to rifid, for the time and efforts you put before your fellow trader, for free! Second - thanks to the contributors, a very friendly, respectful, nice thread of ideas and communication. I have subscribed and look forward to contributing. Here is a snapshot of the EURUSD & USDCHF... could be a second 'point' unfolding now (one a touch higher, the other a touch lower), so looking a smaller pullback & void at this point. looking forward to seeing if it unfolds & everyone's feedback Thanks again to...
Hello Deanoracer, welcome to the thread and thanks for your charts, they comply to the rules , i have to say not my favourite ones ,but when there is nothing else around ,worth a try. My favourites without a doubt are long consolidations after a trend and then a continuation. Hope you have some success on the site.
patience is bitter, but its fruit is sweet
  • #682
  • Jun 10, 2014 8:53pm Jun 10, 2014 8:53pm
Quoting lancedes
Hi All, Nice interesting clean system and thread you've got going here. I've read through around half of it.... the back end and the front end. It certainly is very workable and really constitutes breakout trading, where the price returns several times to the same level - these are what you define as the points - and each time it does so, less and less resistance is encountered from those defending that level, be it the bulls or the bears. Ultimately so much pressure has been built up by the side 'attacking' that level that the defending side eventually...
Nice post Lancedes, you obviously have studied charts for some time ,as you have cottened on to the theory behind the method straight away.
Welcome to the thread and look forward to your contributions.
patience is bitter, but its fruit is sweet
  • #683
  • Jun 10, 2014 8:59pm Jun 10, 2014 8:59pm
Quoting rifid
{quote} Hello Deanoracer, welcome to the thread and thanks for your charts, they comply to the rules , i have to say not my favourite ones ,but when there is nothing else around ,worth a try. My favourites without a doubt are long consolidations after a trend and then a continuation. Hope you have some success on the site.
Thanks... Just trying to get out in front of price with early pattern recognition.

The pullback created by point 1 was larger than the others leading to that point, sometimes that can signal the beginning of a longer drawn out consolidation - not always - but sometimes. Based on that I put both pairs on my watch list, and continued scanning charts.

Also these two move in a negative correlation with one another quite often, esp on smaller tf's... often one pair leads & one follows - so one pair can lead the other pair into/out of similar formations. I like to trade the follower!!!

Anyways, both pairs are off the watch list now as the patterns did not continue to materialize.
Thanks again for allowing me to contribute, I will continue... This is a fine thread you have going here.
  • #684
  • Edited 9:55pm Jun 10, 2014 9:05pm | Edited 9:55pm
Quoting driven18
Rifid, based on your experience, 1. How many bars do you prefer between 1st touch, 2nd touch and breakout 2. What is your preference on how deep the first and second( I know second not as deep as first) retracement should be?
Good morning Driven,
Best way to answer this question is to look at post 680 and also all my charts posted at the beginning of the thread, these are my preferred setups , there is no particular number of Candles required, after some experience you will just get a feel for the market, remember this is not an indicator system that mechanically tells you what trade to put on,...there are plenty of them on F.F. With this method you need to put some chart time in and get into the rhythm and flow of the market and then you will find amazing things start to happen.......It takes time.

Edit: should be post 681 above not 680
patience is bitter, but its fruit is sweet
  • #685
  • Jun 10, 2014 9:59pm Jun 10, 2014 9:59pm
Looking at CAD/CHF and EUR/CAD.
  • #686
  • Jun 10, 2014 10:05pm Jun 10, 2014 10:05pm
Quoting vitorbarbosa
Looking at CAD/CHF and EUR/CAD.
thanks
patience is bitter, but its fruit is sweet
  • #687
  • Jun 11, 2014 1:04am Jun 11, 2014 1:04am
Very quiet day so far, anybody see anything i dont?
patience is bitter, but its fruit is sweet
  • #688
  • Jun 11, 2014 1:14am Jun 11, 2014 1:14am
this one if you could check please ,,my first post here A bit late to post for you,
but not sure it is correct entry
Seems very good system so far , thank you for sharing Rifid
Regards Peter
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  • #689
  • Jun 11, 2014 1:20am Jun 11, 2014 1:20am
Quoting rifid
Very quiet day so far, anybody see anything i dont?
I see nothing too great, but there may be a counter trend set up on gbp usd.
  • #690
  • Jun 11, 2014 1:45am Jun 11, 2014 1:45am
I take this setup it is ok? And maybe its going to be a setup in EUR USD. Please Master i need read ur comment.
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  • #691
  • Jun 11, 2014 1:51am Jun 11, 2014 1:51am
Quoting orid
this one if you could check please ,,my first post here A bit late to post for you, but not sure it is correct entry Seems very good system so far , thank you for sharing Rifid Regards Peter{image}
Sorry for the late reply, one of my computers just crashed.
Welcome Orid ,yes that is a correct entry,although you may run into support at the 90 mark so be careful of that.
Your entry on that seems a little low.
What i do for my entries ,for a long i make a buy stop order at the top of the points +spread + around .2 pip so if price only wants to come up and test the top and not break thru it wont trigger your order prematually . On a short order i do not factor in spread but just ad around .2 pip for same reason.
patience is bitter, but its fruit is sweet
  • #692
  • Jun 11, 2014 1:51am Jun 11, 2014 1:51am
USD CHF day & 4hr trend bull. This is a good setup?
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  • #693
  • Jun 11, 2014 1:52am Jun 11, 2014 1:52am
g'day everyone,
I've been away from the screen all day, but it doesn't look like I've missed anything.
Rifid, do you ever trade counter trend?
cheers
  • #694
  • Jun 11, 2014 1:54am Jun 11, 2014 1:54am
Too early for me, not sure if it was the best of setups but did anyone catch this? I was still sleeping...
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  • #695
  • Jun 11, 2014 1:55am Jun 11, 2014 1:55am
Quoting Contrax
I take this setup it is ok? And maybe its going to be a setup in EUR USD. Please Master i need read ur comment. {image} {image}
not perfect entries but not a lot to choose from today ,hope it goes well for you.
patience is bitter, but its fruit is sweet
  • #696
  • Jun 11, 2014 1:59am Jun 11, 2014 1:59am
Quoting coastie
g'day everyone, I've been away from the screen all day, but it doesn't look like I've missed anything. Rifid, do you ever trade counter trend? cheers
As long as your set ups are on the same plane ,if you know what i mean ,this has been mentioned before. Points are not allowed to be in a 'v' pattern formation. make sense?
patience is bitter, but its fruit is sweet
  • #697
  • Jun 11, 2014 2:01am Jun 11, 2014 2:01am
Quoting hg2014
Too early for me, not sure if it was the best of setups but did anyone catch this? I was still sleeping... {image}
Was watching that but the points didnt line up ,pity
patience is bitter, but its fruit is sweet
  • #698
  • Jun 11, 2014 2:02am Jun 11, 2014 2:02am
Quoting rifid
{quote} Was watching that but the points didnt line up ,pity
Yeah the EurAud is such a good trending pair, when you can get a good entry in that in can go a lot more than 20 pips.
  • #699
  • Jun 11, 2014 2:02am Jun 11, 2014 2:02am
Quoting rifid
{quote} Sorry for the late reply, one of my computers just crashed. Welcome Orid ,yes that is a correct entry,although you may run into support at the 90 mark so be careful of that. Your entry on that seems a little low. What i do for my entries ,for a long i make a buy stop order at the top of the points +spread + around .2 pip so if price only wants to come up and test the top and not break thru it wont trigger your order prematually . On a short order i do not factor in spread but just ad around .2 pip for same reason.
thanks Rifid good advice
check these please
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  • #700
  • Jun 11, 2014 2:06am Jun 11, 2014 2:06am
Quoting Contrax
USD CHF day & 4hr trend bull. This is a good setup? {image}
No entry there, you may want to hide your account details for the world to see Contrax even if it is just demo
patience is bitter, but its fruit is sweet
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