The end result — The end result (+21pips) - you can see where I put my SL (20pips away and just above 2nd sister and the 50MA. I traded the bounce off the 50SMA - therefor I had to put my SL above the 50MA. You need to put SL where you don't ...

5Min Intraday System

Analysis — Now for the warning signs - just to show what I am looking for on a chart I didn't even mention the big round number (BRN) of 1.3000 between my entry and my planned TP Also I hope you can see the bigger triangle being formed.

5Min Intraday System

My first trade for 2011 — My first trade for 2011. Let us look at the analysis of the chart first - the signals/positive aspects. This is where I like to see the 3 little sisters - the second and the third sister just below the 50MA or within ...

5Min Intraday System

Please — Hi S Please, by all means. It is the only way that you will learn to trade and understand this system. I'll assist where ever I can - show you my way/style of trading.

5Min Intraday System

A pm I've just answered — Part of a pm I've just answered - I do believe in sharing as much info with eberybody. The reason why I post this message without putting the name of the fellow ff member on the post: The message from the fellow ...

5Min Intraday System

Perfect — Hi S Yes, that is a perfect example of the 3 little sisters' pattern/price action (a swing high (number 1 on your chart) followed by two lower highs numbered 2 & 3 on your chart). Look at the lower low that was formed - taking the ...

5Min Intraday System

Yes, the 1min chart is very "unstable". I did look at the 1min chart but trading the 1min chart is not for me, thanks. Just because there is even more whipsaw on a 1min chart to take out your SL.

5Min Intraday System

Hi C Sorry but I only use this system for the 5min time frame. I do plan to have a look at the 15min chart and this system in the next few months. Otherwise I do follow Phillip's 4h MACD system on the 4h chart but I don't trade it just because I ...

5Min Intraday System

Only certain retracements — Hi P No, please don't try to trade every pullback into the war. There are just too many of them and a lot are false/bad setups (because it is a 5min system and on any 5min chart you'll get a lot of whipsaw). You'll ...

5Min Intraday System

All three MAs — Hi P I am using the very same MAs - 10 and 21EMA as well as the 50SMA. Nothing new. I am trying to keep it as simple as possible with the minimal numbers of indicators. Look at Pipdealer's charts above - look at how the MAs are ...

5Min Intraday System

Makes sense — Hi P It makes sense to me. How about a few examples on a chart to show our members what you mean? Thanks

5Min Intraday System

Depends on setup — Hi P It depends on the setup and the type of price action/pattern. Each setup is different In this setup is was the last 3 candles (almost all of them are doji candles) just before the big bearish candle that gave me the ...

5Min Intraday System

Zoomed in — I only zoomed in on this setup to show more detail - I don't do it when I am watching a setup as I constantly looking to the left on my chart. I would NEVER trade on a chart that is zoomed in like this one below. Just to show the ...

5Min Intraday System

Price patterns — Then some price patterns on the chart. Note the consolidation/indecision forming the pennant. These consolidation periods could be very frustating and stressful as one cannot determine what is going to happen next (very easy ...

5Min Intraday System

More info — Some more info on the setup and trade - note the slope of the 50ma, nowhere near 20 degree. But there are some traders who like the "opening up of the 10 and 21 MA after they've crossed the 50MA.

5Min Intraday System

How not to trade this system — This is an example how not to trade this system even though I got 13pips out of it. Luckily I was concentrating on Vantage's system and not this system as the 50MA was not yet in line (not yet 20 degrees ...

5Min Intraday System

Don't use trendlines like this — I don't use trendlines the way that you do use them but if it is working for you, go for it!

5Min Intraday System

Follow up — Just a follow up of your setup and some other points visible on the chart. See my comment on the chart. Once again - count the number of pullback in that downward move and you'll see why it is risky to enter short after the 2nd or ...

5Min Intraday System

Right — Yes, you did. This is what I saw - see my comments on the chart. The yellow line shows me the small intra-day downward move during the NY session after some lateral movement in the London session. The yellow circles are the points that ...

5Min Intraday System

Great — Perfect analysis. Great High/Low entry as the low of the setup candle was taken out. SL shoudl have been just above the high of the setup candle (second last candle - the bearish candle) Great chart to few the "up close" action. ...

5Min Intraday System