The 5 minute TF S&R trading system

I also didn't understand at first that he was counting during the pull back. At first I just thought he was counting after the low/high of the pull back was made till break out. If you go through the thread and charts and examples you will see he is counting in 3 places. During pullback until the low/high of the pull back is formed, after the pull back low/high has been established until break out and then once your in the trade if too much sideways action get out. So basically it filters the pull back from sideways action in two places, while it's pulling back and until it breaks out. Hope makes sense. Again, figure your break out level and watch to see if the pull back is too large for your 15 or 18 pip stop loss. The pull back must be within that range depending on which pair your trading. In your bar counting remember the rule of each bar being a full pip above/below previous bar to be a new high or low in the pull back or its just another sideways bar.

hi all by chance I popped on to check news. the count begins from the pb candle. This way of trading is s and r with chart patterns thrown in. its where s turns into r and visa versa. It amazes me I have be away for quite some time and the various trading system appear everyday and indicator after indicator pops up. Noone does the extensive backtest to qualify if there strategy works over time. Which tells me no one wants to really learn how to trade and how to make money. ITS SAD BUT TRUE. Learn to read the chart an indicator wont tell you nothing

high tim here a few charts using 600 tick chart on oil

Hey Fxpivots

What happened to the video from post 4877? Link seems to be missing the file.

Just wondering why the change to the Futures market? Do you feel there is an advantage to Futures?

absolutely dave better leverage and money a lot safer

Been using your system and have had 5 winners in a row between 3 and 10 pips. Haven't worked my way up to the 15 pip TP yet.

Gotta check you at bobby vans sometime.

I totally agree. Once eu sarted slowing down i made a move over to futures and started trading from a weekly perspective in forex. ES seems to be treating me well using the same ole 123 pullback on recent sr. Although i have added the daily open and a range play to the mix, its essentially the exact same 123 pull back as stated earlier in this thread. Glad to see your still doing your thing.

Looked back over my trades and realized that I've had 13 winners and 1 loser since 6 Oct 2014. Now if only I could consistently do that...lol.

Its been awhile thought id drop buy and give you a little update. The futures market is a blast loads of volume loads of leverage loads of trades loads of ticks more than I ever made in forex and I made a ton but had to risk a ton to make that ton. I began using line charts then went back to candles and have settled using the line charts again thought I would share a few charts for those still using this method

If some of you don't know what a 123 pattern or 2b pattern looks like then the above charts wont make sense and if you don't know what support turning into resistance is then forget looking at charts all together

heres todays 2 winning trades in crude

see how line chart kills the noise

wisest thing I ever did was move from the forex to the futures market. no spread small comm 4.00 money is safe major leverage brokers are no involved a true level field

here are a few charts jay z if you have any questions I will post a few more charts with more explanation

hey darryl

Thanks Harold

did I explain it clearly

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Makes sense to me

when we have a trend and we get a pullback into to 50% area look for a 2b to get back into the original trend