Pete's Journal

Hello All,

This is my trade journal where i'll be posting my trades. I am very thankfull to everyone here at ForexFactory. The purpose of starting this journal is to try out my variation of Sidus System which is already proving to be the best simplistic system.

My concept is:

Long entry: (price reversal pattern + 5/12 crossup) at bottom of trendline channel.

Short entry: (price reversal pattern + 5/12 crossdown) at top of trendline channel.

I look for only three types of price reversals: Engulfings/Stars/Tweezers

Long price reversal patterns: Bullish engulfings/Morning Star/tweezer bottom
Short price reversal patterns: Bearish engulfings/evening star/tweezer tops

Any comments good or bad are all welcome as this will help me and everyone to learn more. As i will be posting the charts realtime, please do not take this as trade recommendations or signals. This trade logs are only for educational purposes for me and everyone who would like to follow this setup.

I'll gladly follow and contribute what i can

CHF/JPY SHORT ENTRY: Bearish engulfing reversal pattern at the top of 1hr channel, followed by 5/12cross confirmation. Price dropped to mid of 1hr and 4hr channel. 1hr channel is green, and 4hr hour channel is magenta.

CHF/JPY LONG: Price was at the bottom of 1hr channel. We have a twizer bottom reversal pattern followed by 5/12 crossup.

USD/JPY LONG: Price was at bottom of 1hr channel, formed a bullish engulfing reversal pattern, followed by 5/12crossup, and it was also at mid of 4hr channel.

04AUG - USD/CHF Short: just before the NFP news, we have Evening Star reversal pattern formation, followed by 5/12crossdown at the news announcement, price drops, and at the bottom of 1hr channel and 4hr channel we have bullish engulfing reversal pattern, time for long entry if we get 5/12 crossup.

04AUG - EUR/USD Long: Price at bottom of 1hr channel, forms a bullish engulfing reversal pattern followed by 5/12 crossup at the NFP news announcement.

04AUG- USD/JPY Short: price at top of 1hr and 4hr channels, we have evening star formation + 5/12 crossdown at NFP announcement. price drops forms nice tweezer bottoms, possible long entry if we get 5/12 crossup. SELL tops, BUY dips

04AUG - AUD/USD Long: Bullish engulfing reversal pattern + 5/12 crossup.

04AUG - USD/CAD Long: 5/12 crossup + Bullish engulfing reversal pattern.

peter, this is great. thank you very much for all the work and the explaination.. you open my eyes with this candle patterns......it is more clear to me now....thanks

Listen to what the charts tell you, cos PRICE is the best indicator.If you have noticed in my charts, i have only channels and emas, no other indicators like RSI, MACD etc. Just purely emas for confirmation of price reversal patterns, and channels to see where price is in relation to the higher timeframe trendlines.

Hello pete's

Realy simple Sytem, Great work , if u did a failure Trade sent it too here to discuss it.

I have not posted the GBP/USD chart as the entries were not so clear to me, could not spot the reversal pattern well on that chart, although it did have a 5/12cross up at bottom of the channels. I am still learning, so need to practice to spot the reversal patterns more quickly. And yes max, i will post any failure trades here so we can all discuss and learn from it.

If you notice the USD/CAD chart, there are two signals, the first one was Long signal, which was really good one. The second signal was short based on the price reversal pattern followed by cross down, but this entry was not gud cos of higher risk (StopLoss).

Great work buddy.
Can you explain a little bit about 1h channel.How you draw it and use it.

Hi, here is the channel indicator, put this on 30min chart twice, first time set timeframe=60/color=green, and second time set timeframe=240/color=magenta

07AUG - USD/JPY Long: As per post 8# we had tweezer reversal patterns and was waitin for 5/12crossup, which we have it today, so long entry and price now at mid of 1hr and 4hr channels.

As a learner could you please explain what you you mean by a 5/12 crossdown/up ?


many thanks

I have 5ema and 12ema on the chart, when 5ema will cross 12ema from below its called crossup, and when 5ema will cross 12ema from top, its crossdown.