Hi Favorite, H then a L followed by a LH and LL. Babon, cloud OK and distance to TMA 5 bigger than 10 pips at the time went short at red vertical line and got stopped out. Your comments are appreciated.

Daytrading/scalping with high leverage - my proven strategy

It is my humble opinion that the 123 at the bottom followed by a nice upward momentum was a signal of a possible trend reversal so I would have switched my bias to only long signals and not take the short trade.

The 5 minute TF S&R trading system

Yes, fxpivots has reduced his TP and SL to 13 pips.

The 5 minute TF S&R trading system

I wasn't able to trade yesterday but took this short trade @32 today. Thanks fxpivots

The 5 minute TF S&R trading system

Hi Omidak, keep in mind that we don't trade 123 or 2b pattern right after the break. We wait a minimum of two candles to close below or above the break and then trade once price retraces back to the break area then we make a trade. The last 6 or 7 ...

The 5 minute TF S&R trading system

Little late in the session , 17 is the number. Edit: TP Hit, thanks fxpivots for this strategy.

The 5 minute TF S&R trading system

Just watching and waiting, news coming up at 8:15:unamused:

The 5 minute TF S&R trading system

No mate, I got the date right. FF calendar doesn't list all important news on some of the days. Some GBP news are released at 4:30 on FF and the other site at 4:28. I check both calendars everyday.

The 5 minute TF S&R trading system

No clear setups yet. Keep in mind that important Euro news will be released at the top of the hour which isn't listed on FF calendar. url

The 5 minute TF S&R trading system

I noticed the blue line @ 1.2824 was a nice resistance from yesterday and price approached it and formed a 123 and RSI heading down so I felt OK with taking a short at 19. Didn't like PA so I got out at +7 pips +1.5%.

The 5 minute TF S&R trading system

The range is 7-8 pips in the past 2 and half hours, sometimes the best decision is to sit on the sideline just like fxpivots has shown. I am not trading this PA. Good Friday to all.

The 5 minute TF S&R trading system

Once you make a post, scroll down below the box on the left corner and you see Attach Files and there you go.

The 5 minute TF S&R trading system

Hi fxpivots, I spent yesterday and today reading this thread. I hope you stick around so we can all learn from you. I plan on being a regular here. Thanks

The 5 minute TF S&R trading system

Trade hit target. I am finished trading for today.

The 5 minute TF S&R trading system

That is why I am watching this trade like a hawk. After entry it is good to see momentum which isn't present as of now. The entry price seems to be the line in the sand. There she goes, SL moved to +2.

The 5 minute TF S&R trading system

My long order got filled. My SL and TP is set but I don't hesitate to close early if price keeps on stalling.

The 5 minute TF S&R trading system

Now price retraced and continued to move up and formed another high near 1.2804. Do we need to scrap the previous level at 1.2794 and reset our buy order for 1.2804 once we get two candle closes above this new level? Edit: Looks like we didn't get ...

The 5 minute TF S&R trading system

I am still in the process of learning this method. The current trend is up so we look at the last high on the left an we draw a horizontal line. Once price comes back to the line at 1.2794 we buy. SL and TP of 13 pips. Your comments are welcomed.

The 5 minute TF S&R trading system

Congrats dnabrasil on the birth of your baby daughter. Thanks Favorite for your continued efforts in teaching us your system. I got a late start today so missed all the action and price is just too close to TMA 5M for any trade to trigger at this ...

Daytrading/scalping with high leverage - my proven strategy

Thanks for your reply and do you still make a second trade after a loss? If so could you explain that process as well? Thanks in advance.

The 5 minute TF S&R trading system