Snail, Before you look for the 123 you have to take into consideration the general picture. You took a short into the PIVOT trade of yesterdays high. Don't take a trade into a level where there's a fair chance it may bounce. If your certain it will ...

The 5 minute TF S&R trading system

That plus it was yesterdays london close AND there was confirmation in the form of a spike up when price reached the level.

The 5 minute TF S&R trading system

Would have done the same.

The 5 minute TF S&R trading system

I took the long from 34129 up to 34290 but didn't re-enter for the opposite direction. To many distractions at work.

The 5 minute TF S&R trading system

We lookin at the same charts?

The 5 minute TF S&R trading system

I don't trade using MT4 but thank for your consideration.

The 5 minute TF S&R trading system

Thumbs up to you. I wasn't here for the 02 entry and I missed the 89 entry as i was a little busy here at work. Good to see your takin your gains and keepin em.

The 5 minute TF S&R trading system

Hey square1, Have i marked this chart as you've described? I was having a little trouble understanding it as you've described it. Mainly the "price went down and caused a support at 10:45 am" statement. image

Ramblings of a Forex Junkie

Looks like you did this overnight but you put in a lot of hard work to test (back test and forward test) this system. Just goes to show where some consistancy will take you.

The 5 minute TF S&R trading system

Ordered cancelled

The 5 minute TF S&R trading system

If this 83 buy doesn't get entry soon i'm closin up shop for the day.

The 5 minute TF S&R trading system

Yeah i went 82 -1. Its really my fault for not tpin anywhere above +10. I let myself be distracted.

The 5 minute TF S&R trading system

And there it goes. Stopped out at BE. It actually went to +14 but retraced faster than i was able to TP while it was above +10

The 5 minute TF S&R trading system

Stop at BE

The 5 minute TF S&R trading system

Missed the 81 entry while settin up my charts. I'll enter if it comes back Update: in

The 5 minute TF S&R trading system

Yes i've noticed this as well. I've done some light testing with this in the past. I used the 5 min for trade signals and 1 minute for entry on those same signals, on about 80 or so trades i think it won about 77% of the time. This is a ruff ...

The 5 minute TF S&R trading system

Well as it turns out, price got to 59 and paid. 2 pips away from 61

The 5 minute TF S&R trading system

That or nobody likes the irish

The 5 minute TF S&R trading system

Been trying to think up something to contribute to this thread but it seems you've hit the important things. Mainly, being inquisitive and following down that path of questions that arise once you notice something in the market is enough. To be ...

Ramblings of a Forex Junkie

Oanda MT4 displays the bid price by default while FXtrade shows the midpoint between the bid and the ask.

The 5 minute TF S&R trading system