Another simple system - Time-Frame 15

Hello this is my CT on GJ, small lot and entry should be at 10ema after the close of my entry candle. my SL is around 30pips(risk) should be half that if enter at 10ema. move SL to BE asap.

close all short positions on EU for -9 pips! im looking for long positions for this pair.

@meihk..pips...senti..works with 3 rsi...see tdi and 3 rsi cross ....

would you mind sharing this indi with us?

thanks classy, i agree it works very similar to TDI green line.

meihk ..thanks ..actullay tdi is also from rsi ..you know ..i just fine tune ..i test lots of parameter .stoch..rsi..macd..force..ao.ac.mfi..all and i see this 2/3 rsi and macd is best ..IMHO

CORRECTION TO POST 25,632: I typed 10M chart instead of 5M chart. I guess that I had 10 EMA on my mind

I do trade ABC Patterns at times but that is not what this thread is about. Let me post a chart and explain.

On the left is a typical ABC pattern trade and on the right there is the BOUNCE trade as taught here. The entry on the BOUNCE trade right at the turn ( Point A) is a better entry with only a TINY SL. But if you just enter a trade as soon the price pulls back a little you will lose more than you win. There has got to be supporting reason(s) to take such BOUNCE trades. In this thread, we use 10 EMA ( 30 EMA on 10M 5M chart), RN, EMA 200, EMA 800, support and resistance.

When price on the right, BOUNCES from Point A and below it there is a major support (10 EMA ( 30 EMA on 10M 5M chart), RN, EMA 200, EMA 800) then we take the trade. When there is confluence of more than one, for example, EMA plus major support or resistance, high or low of yesterday or divergence in higher TF then our setup is stronger. Some enter after the BOUNCE and others after much experience enter at the TOUCH which is more riskier but you enter at a better price with even smaller SL.

hello all,

I've been PM on what i have on the chart and i just want to warn that cluttering your chart with indi and junk is not going to help your trade so keep it simple and clean if you're new.

here is what i have on my chart.
basic setup:
10, 50/34, 200 ema.
TDI
HA tape is on bottom of TDI.
ADR indi

other indi:
engulfing indi (change color of bull and bear engulfing to a lighter color.),
patterns indi (for inside, outside bars and etc..),
pinbar indi,
day open indi,
MTF 10 ema lines indi(its the blue line you see with 1hr, 4hr, day, wk and month labels)

thanks pipsninja for correcting it. some people might have already notice the mistake but for the new guys this will help clear thing up a bit.

You are welcome Meihk, I contacted admin regarding the correction and waited a week but nothing happened so I made the correction post. I guess that pips29 is taking a well deserved break. Here are my 5M trades from last week along with a few entries that were taken based on the 15M charts to get this thread going. I also traded a few other pairs besides EU to show that it works with other pairs.

Last trade was based on a 30M chart.

hi pipsninja,

how many pips do you aim for when trading on 5m chart?

Between 8-20 pips Meihk. It depends on the setup, angle of 10 EMA= 30 EMA on the 5M chart and what the higher time frames are saying. In counter trend trades my TP is usually between 8-10 tips. When price is ranging in a very narrow range for the day like today on EU (20-40) pips then I take my profits quickly and reduce the number of trades on that day.

There are times but not too often that I take only 5 pips and that is due to lack of momentum or just my instinct. I don't make a habit of taking 5 pips very often since my SL ranges between 8-20 pips. If I am in profit by a few pips and price just doesn't move any further in the next 3-5 candles then I get out with whatever profit I can.

One thing that helped me along my trading journey was the realization that besides the method there is an art to trading which comes with years of experience.

Here are my yesterday's trades. Second chart is GU 30M chart trade.

Only 2 trades on EU today due to other commitments.

Pipsninja thank you for keeping this thread going. I haven't tried your M5 bounce method so far. I feel that whenever I go to M5, the spread is eating a big chunk of the profit. But as we know what counts is to close with the profit, no matter how small. And as I can see yours is not small after all
I hope Pips29 didn't stop posting, because not many of us do...
I'm trying to post whenever I can, so here are my today's trades. You'll find the details on the charts.
(You can find the chart in my next post)