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CHOROS System

  • #10,901
  • Jun 20, 2014 2:08am Jun 20, 2014 2:08am
Quoting ihezzz
Hi guys, I entered this touch of H1 EMA10 and M15 SMA35 a bit late at 1.70458... EDIT: My standard SL is 7 pips, as you can see on the image, but I tightened it to 4 pips just below the M15 EMA50 EDIT: Ooops, sorry, I just saw Direwolf just posted that very trade a few minutes ago^^ {image}
Hope you're still in this trade! apparently it worked if you didn't move your SL too soon like me.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #10,902
  • Jun 20, 2014 2:14am Jun 20, 2014 2:14am
Quoting kostas1
{quote} Don't rush to BE for GU. It is noisy and usually will stop you out before moving in the right direction. Usually I don't touch my SL, only stop manually if action looks bad. In this case this trade was good and it may give you at least 10-20p. EDIT: I am waiting for GU H4 10, H1 35/50, DP confluence to react.....
Thanks for the tip Kostas! I'll keep that in mind
Everything you can imagine, is real - Pablo Picasso
  • #10,903
  • Jun 20, 2014 3:07am Jun 20, 2014 3:07am
GU is at a very critical point at the moment. Second time back to a most significant support / resistance that goes back many years. The daily close yesterday was almost spot on. The volume seems to be thin today, but I would not be surprised by some violent action that can go either way. Either stop loss hunting with overshoots or violent sells. The chart shows the weekly timeframe.

EDIT: Price went through the resistance yesterday, but no violent reaction from stop losses, which surprised me a little. I don't have that much experience with trading at W1 resistances though, they don't come along that often.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-06-20_GU_W.png Size: 55 KB
  • #10,904
  • Jun 20, 2014 3:15am Jun 20, 2014 3:15am
Quoting Direwolf
{quote} Hope you're still in this trade! apparently it worked if you didn't move your SL too soon like me. {image}
I am, but only due to Kostas remark!
I had just moved to BE when I read his post and decided to trust his greater experience and moved SL back!
But now I hope its safe to move to BE again...
  • #10,905
  • Jun 20, 2014 3:22am Jun 20, 2014 3:22am
gu is trying hard to penetrate that top. lots of wicks. I think it should be ok to move SL below 1.7050? seems like the right place
Everything you can imagine, is real - Pablo Picasso
  • #10,906
  • Jun 20, 2014 3:34am Jun 20, 2014 3:34am
Quoting Direwolf
gu is trying hard to penetrate that top. lots of wicks. I think it should be ok to move SL below 1.7050? seems like the right place
I would have expected a much more violent reaction. The wicks are only in the 5-10 tick range. I would have thought due to the many stop losses that might be there it would be more like 20-30 pips, at least with the very first move. Not much activity across the board yesterday and today though. My hope was trading would pick up more after the US interest rate decision.
  • #10,907
  • Jun 20, 2014 4:16am Jun 20, 2014 4:16am
Quoting That guy
{quote} I would have expected a much more violent reaction. The wicks are only in the 5-10 tick range. I would have thought due to the many stop losses that might be there it would be more like 20-30 pips, at least with the very first move. Not much activity across the board yesterday and today though. My hope was trading would pick up more after the US interest rate decision.
The week isn´t over .. ..
..and US opens in a couple of hours ..
A spike wouldn ´t be the first time on forex markets ..
Risiko birgt immer auch die Chance.
  • #10,908
  • Jun 20, 2014 4:50am Jun 20, 2014 4:50am
Tried to enter another touch RED, gbpusd m15. Confluence with 1.7050 level.
It dropped sharply and hit my stop in less than a minute. And then it went up

-7 pips

that's 2 in a row, time to look away from my chart at least an hour.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #10,909
  • Jun 20, 2014 7:24am Jun 20, 2014 7:24am
Quoting Direwolf
Tried to enter another touch RED, gbpusd m15. Confluence with 1.7050 level. It dropped sharply and hit my stop in less than a minute. And then it went up -7 pips that's 2 in a row, time to look away from my chart at least an hour. {image}
Keep in mind that 2nd touches tend to be riskier at 35.50; sometimes they work quite well but there are times when they fail and in my opinion the 2nd touch here was a fail, the 1st one was a good trade. I usually take second touches when the EMA's converge with a pivot point or a good SR level. Same thing goes for 10 EMA touches.
  • #10,910
  • Jun 20, 2014 8:01am Jun 20, 2014 8:01am
Thanks MisterC, another note to keep in mind
Everything you can imagine, is real - Pablo Picasso
  • #10,911
  • Jun 20, 2014 10:02am Jun 20, 2014 10:02am
usdcad first touch 10EMA?
Attached Image


update - don't think so.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #10,912
  • Jun 20, 2014 12:59pm Jun 20, 2014 12:59pm
xauusd m15. Scrolling back, this pair maybe too risky to trade like this. Although there are few valid touches here and there.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #10,913
  • Jun 20, 2014 1:03pm Jun 20, 2014 1:03pm
Quoting Direwolf
xauusd m15. Scrolling back, this pair maybe too risky to trade like this. Although there are few valid touches here and there. {image}
too flat !best working pairs are still ej and cable .wish you all a nice weekend .
Risiko birgt immer auch die Chance.
  • #10,914
  • Jun 23, 2014 6:35am Jun 23, 2014 6:35am
EURUSD m15 touch black?
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #10,915
  • Edited 7:03am Jun 23, 2014 6:50am | Edited 7:03am
Hi guys!

Made this trade today:

ENTRY
Criteria:

1) Confluence M15: 10 EMA + RD , M5: 23 EMA + RD

2) "Two-Bar" rule valid

3) Steep angles of 35/50 on M15

4) M15 first touch of 10EMA

5) G/J Markets Open (Tokyo was about to close)

6) TP @ RD 173.300 -Spread

7) SL @ 23EMA around RD 173.500

Attached Image (click to enlarge)
Click to Enlarge Name: 2014-06-23_GJ_00_IN.png Size: 86 KB


EXIT
Criteria:
1) Hit TP (+9pips)
2) On second thought I could close it manually after 4 bars, because of RD and a previous R/L @ 173.300.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-06-23_GJ_00_OUT.png Size: 78 KB


Please comment!
Thank you!
..., but what WE make.
  • #10,916
  • Jun 23, 2014 6:55am Jun 23, 2014 6:55am
Quoting kdao
Please comment! Thank you!
Great trade, great analysis. :nerd:
  • #10,917
  • Jun 23, 2014 7:04am Jun 23, 2014 7:04am
Quoting kostas1
{quote} Great trade, great analysis. :nerd:
Thank you Master!

small edit: @ the Entry criteria above, I also added: 2) "Two-Bar" rule valid
..., but what WE make.
  • #10,918
  • Jun 24, 2014 3:57am Jun 24, 2014 3:57am
... hunting the beast ^^
Cable H4 .
I just try to catch the touch of the ema50 .
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdch4.png 24.6..png Size: 49 KB
Risiko birgt immer auch die Chance.
  • #10,919
  • Jun 24, 2014 4:42am Jun 24, 2014 4:42am
Hello guys! I´m new to this thread and this is my first post here. GBPUSD m15 touch trade. touch trade of the 10. very steep angle, two-bars-rule, S1, RN and strong resistance level. SL 10 Pips above the entry. TP 1.6978 (23 pips)

Andy
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.png Size: 44 KB
  • #10,920
  • Jun 24, 2014 4:53am Jun 24, 2014 4:53am
Quoting TheLegendary
Hello guys! I´m new to this thread and this is my first post here. GBPUSD m15 touch trade. touch trade of the 10. very steep angle, two-bars-rule, S1, RN and strong resistance level. SL 10 Pips above the entry. TP 1.6978 (23 pips) Andy {image}
I was also watching this but I have the following problems with it:
1. We may have bounced from H1 200
2. We may have bounced from H4 50 and Daily 10

It the above is true it could explode upwards. Since you have entered the trade if it gives you 10-20 pips you may want to take your profit or watch it very closely.
I have seen this case before and one time it worked for 20 pips and then went up. In another similar case it worked as expected going down for 50-60 pips.
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