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- T.h.p replied Oct 22, 2012
well here my dilema i won 9 pips on first trade earlier i need 6 to make 15 so i will have stop set at 9 and target 6 so either i make my 3% today or breakeven.
The 5 minute TF S&R trading system
- T.h.p replied Oct 22, 2012
late in day a h and s seems to be forming
The 5 minute TF S&R trading system
- T.h.p replied Oct 22, 2012
thats why i wait for 2 closes to see if trend is in place or a reversal at end of trend. as i am speaking price just took oput high so we wait for 2 closes then trade the pullback which is 70
The 5 minute TF S&R trading system
- T.h.p replied Oct 22, 2012
if your looking for a long 54 is the area
The 5 minute TF S&R trading system
- T.h.p replied Oct 22, 2012
when there is no news the market moves like this very very slow
The 5 minute TF S&R trading system
- T.h.p replied Oct 22, 2012
snail glad you one but the 123 you shorted i wouldnt consider the V shape between 2 and 3 was not pronounced but never the less you understand the concept
The 5 minute TF S&R trading system
- T.h.p replied Oct 22, 2012
I just bailed at B E when your in a trade and the market structure changes and it goes sideways best to just get out and wait for another trade.
The 5 minute TF S&R trading system
- T.h.p replied Oct 21, 2012
Lets stick to the setups and we will make money
The 5 minute TF S&R trading system
- T.h.p replied Oct 20, 2012
i see trend lines but no explanation why you shorted at 57
The 5 minute TF S&R trading system
- T.h.p replied Oct 19, 2012
not sure snail was trading method for one line charts are needed second trading just 2b setups are risky third is 2b followed by 123 with a break and pullback is part of the method
The 5 minute TF S&R trading system
- T.h.p replied Oct 19, 2012
but my trade was s and r reversal back into trend
The 5 minute TF S&R trading system
- T.h.p replied Oct 19, 2012
i didn't want to say this because i know how people let indicators influence there trading decisions but wherever i enter i look at rsi to see how close to overbought for shorts opposite for longs
The 5 minute TF S&R trading system
- T.h.p replied Oct 19, 2012
market went up and i was going to go long at 49 it didn't hit it then formed 123 that broke so i took pullback to pt 2
The 5 minute TF S&R trading system
- T.h.p replied Oct 19, 2012
sorry frank maybe it turns around and we both win
The 5 minute TF S&R trading system