short tunnel, principals in place, check please.

Have had vegas tunnel on my mind since reading the most of the posts.
If you would please check the following for me to see If I got a tunnel here, intraday, looks like it.

Im looking at 5 min / 12hr chart
gbp/chf

144,169,12 ema


Around 5pm est, 12 ema crosses up thru welldefined tunnel, price action follows up.
long at 2.3209
s/l at 2.3179
limit at 2.3329 hit at 11:35pm est
No fibo #s used for entry/exit, just want to clarlify the method.

Gradually rise in price over course of few hrs, tunnel perfect, 12 ema rising with price, I think this is short vegas setup, looks like. I know meant for swing trade I just wanted to see if I got the info understund.

My s/l and limit numbers I just pulled random, more concerned with chart.

stop loss set at 30 pips
limit set at 129 pips

net profit = $970.80 / 6 1/2 hr trade. $149.35 dollars an hr, just wanted to see the breakdown.

If I knew how to post charts I would, new to forum, havent figured that part yet. Please verify my trade above and let me know your thoughts.

Is this intraday tunnel?

Tks all

Mike

Greetings Mike. I saw this thread and wanted to add my 2 pips worth. I'll share an image of the GBPCHF during the time you mention that i have overlaid my model I've been trading in demo since spring time this year and making adjustments along the way with a goal of solidifying the model by summer's end and trading through this year's end in my micro-lot account at a low leverage, then going full steam ahead come first of January. Most of my MM has been worked out and my goal is to get up a journal at some point in time with a full explanation.

Here is the image of the 5m chart. Please note that this is actually how i would have traded this, all zoomed out to just see nothing but simple price action around the longer MA (it is a 2640ema !! with vegas style fibo extensions out at 34-55-89-144-233-310 !!)

http://www.accrete.com/fx-posts/2006...mpleGBPCHF.gif

OK, now the zoom-in is i believe the area you spoke of where the 12ema crossed through the tunnel (my dashed aqua + magenta lines). You will see that i have a Magenta 13emaCHL Shift+1 "Wave" as Raghee would call it (she does not shift the Wave). But she uses a 34ema on 30m and up charts in a similar was as i have addopted from her teachings. The fat Lime is my 8ema C, the skinny Lime is my 5ema C. I use the 5/8 cross as a early entry/exit heads up. Then watch the emas go through the 13emaWave before entering/exiting. Once the shorter emas are on the proper side of the 13emaClose of the Wave i have a potential trade.

The only thing i did not think of placing on the chart was the traditional Vegas "Tunnel", though this might be an additional confirmational tool. I'll give it some thought and might just include it and see if there is a benefit to seeing this additional information.

IF i had been trading this i would have waited for the break above the hour's long congestion that had been occurring at the 55 extension level which would have gotten me into this long trade at about the 2.3220ISH level, a bit after, and more conservative, than your 2.3210ISH entry.

Feel free to ask Q's, or tell me i'm crazy for doodling and maybe mucking up a perfectly good system such as the Vegas 1hr/4hr models...I just like to doodle and this is what has helped me gain confidence in my trades. The idea of having lots of candles (5m) tagging a S/R when on a 4hr or 1hr it might just look like a simple/single tag of the S/R.

Cheers,
Thom

PostScript, for anyone who wishes to doodle, i've uploaded my MT4 indicator and template for use on the 5m charts:

Accrete 5m Tunnel MT4 Indicator (place inside MT4 Experts > Indicator folder)

Accrete 5m Tunnel MT4 Template (right click and "Save Target as" and change to "all files" instead of "text files", name it "accrete5mtunnel.tpl", then place into "Templates" folder inside your MT4 program folder)

: )

I appreciate your comments. Its now trading at 2.3351. Need to work on my entry and exit for sure. I was in on one of Raghee;s Webinars, I remember, the wave theory.

Thanks again. I am starting to watch cross pairs more since I cant trade NY session, I took today off to run some scenarios and see the housing report.

I will be trading mainly sydney, asian and london times, cross pairs. Any advice or suggestions would be appreciated.

usd/cad dumped on the release, bears are running with it.

Mike