Comprehensive Trading System/Methodology

[bbmac]

Re entry set up found in M5
Reversal setup found in M1
RBS at 1.4767 to 1.4763
Stop at 1.4750 Below Trendline

I see the 5min Re-ent and 1min trigger Rev B but I don't see any 1hr prev swing hi = potential rbs, ...the 50% fib of the move up is at 4755 I guess, but I wonder whether the 30min is in an uptrend yet per peak/valley analysis used to ascertain such in this system/methodology ??

 

[bbmac]

I see the 5min Re-ent and 1min trigger Rev B but I don't see any 1hr prev swing hi = potential rbs, ...the 50% fib of the move up is at 4755 i guess, but I wonder whether the 30min is in a n uptrend yet per peak/valley analysis used to ascertain such in this system/methodology ??

 

[babymush]

Please see picture

 

[bbmac]

Please see picture

loving your charts, I thought mine were busy lol.

2 points re the question you pose

a. yes a 5min previous swing low = potential support zone had formed, but this would only have been good for a 1min reversal or a 1min re-entry into a short trend, ie the previous swing low zone acting as potential sbr.

for a 5min re-entry set-up you would have needed to be able to identify potential rbs on the 1hr chart, not potential support on the 5min as you did here.

b. If re-entering a trend with a 5min re-entry set-up (with a 1min Reversal set-up) you need to do so at potential rbs/sbr identified on the 1hr t/f, preferably the confluence of other factors with a previous swing hi=previous resistance = potential rbs [for a re-entry to an uptrend] or previous swing lo=previous support=potential sbr [for a re-entry to a downtrend]

Ie you need to identify potential sbr/rbs and indeed potential supp/res on the next time frame up from where the set-up has developed.

 

[babymush]

Trade closed at 4 pips profit. Broke below Swing Low in M1 chart

 

[babymush]

Time to sleep got work tomorrow. Will read any followups tomorrow Thanks for all the advice by the way. Specially to Dentist and BB

 

[bbmac]

Trade closed at 4 pips profit. Broke below Swing Low in M1 chart

Well done..you did right treating it as a 1min Reversal set-up only because there was only a previous 5min swing lo = previous support = potential support (price approaching it from the topside)at which the 1min set-up presented itself.

G/L

 

[babymush]

Just wondering if using the 1H chart, this can be taken as potential RBS?

 

[bbmac]

Q? Just wondering if using the 1H chart, this can be taken as potential RBS?

I wouldn't take it as such...it's really only one candle whereas 'real' previous price swing hi/lo's are created from more than one candle/a group of candles...see screenshot for eg. [This said price has certainly found support in that area, lol, so what do I know!!..but on a serious point, the above is a good rule of thumb.]

 

[babymush]

Thank you. Will be studying the system more and hope to find good support and resistance. Hope you can also continue updating this thread for us to learn. Looks good with chart though I understand it is tough.

Thank you for all your help.

P.S. What time do you trade by the way?

 

[babymush]

Extreme reversal setup on GBPUSD setting up on M5 and M1 at potential resistance point

CCI Hooked back at M1 chart on opening.

12/10/08 02:17 Enter position: 1.4845
Stop: 1.4855 above M1 swing high

It broke slightly above my potential resistance point but all M1 and M5 were touching the Extreme Fibs .. Hope it is a correct setup.

12/10/08 02:24 Stop loss hit for a -10 pips loss.

 

[babymush]

Re entered on 12/10/08 02:29 Exited 12/10/08 02:17
M5 Extreme Reversal
M1 Reversal Setup
1.4864 to 1.4868 SBR and R1 Pivot 1.4877
Entered - 1.4850
Exited - 1.4834
16.8 pips profit

Closed on M1 forming a Re Entry setup at RBS area

Should I have held longer?

Update: price is now at 1.4818 ... Missed out on 16 pips ... should have held on .... Did I do anything wrong to take the profit?

My time is FXCM timing GMT should be +5 hours from the time I stated.

 

[Dentalfloss]

doesen"t anybody get any sleep on this thread.?

 

[babymush]

Its day time here 1615 now hehe How about your time there?

 

[Dentalfloss]

Its day time here 1615 now hehe How about your time there?

8 20 am.sunrise coming soon

 

[rags2riches]

Hi BBMac I am just playing about with the idea of bol flips combined with divergence.

Was there a 1min reentry opportunity on Cable at 9.27am, SBR off the 14800 level.
10/20 bol flip with hidden macd divergence?

Also, how would you manage the position once in a trade. Set a fixed target or simply trail the highs?

Thanks.

 

[bbmac]

Extreme reversal setup on GBPUSD setting up on M5 and M1 at potential resistance point

CCI Hooked back at M1 chart on opening.

12/10/08 02:17 Enter position: 1.4845
Stop: 1.4855 above M1 swing high

It broke slightly above my potential resistance point but all M1 and M5 were touching the Extreme Fibs .. Hope it is a correct setup.

12/10/08 02:24 Stop loss hit for a -10 pips loss.

Good 1min Rev Extr set-up that saw +15pips available from entry, no need to let it hit your stop for a loss, I'd have taken the pips!!...no 5min main chart set-up to support at that time (developing Rev Extr but cci as yet not hooked back in bols) As for potential Resistance well the 61.8% of the 4956-4672 down swing was @4848 but that is all I saw there.

 

[bbmac]

Re entered on 12/10/08 02:29 Exited 12/10/08 02:17
M5 Extreme Reversal
M1 Reversal Setup
1.4864 to 1.4868 SBR and R1 Pivot 1.4877
Entered - 1.4850
Exited - 1.4834
16.8 pips profit

Closed on M1 forming a Re Entry setup at RBS area

Should I have held longer?

Update: price is now at 1.4818 ... Missed out on 16 pips ... should have held on .... Did I do anything wrong to take the profit?

My time is FXCM timing GMT should be +5 hours from the time I stated.

Nice 5min Rev Extr set-up, no real 1min set-up @ 0726am ( a hybrid between a rev Extr ii and Rev Aii really) and nice pip score...with a 5min suppoorting set-up it is advisable to try and hold for more pip gain than you would with just a 1min set-up) Notice too how price had breeched the 161.8 res channel of the 5min in it's Rev Extr set-up (a good sign of o/b) Notice too on 15min how there was a breech of the 61.8 res channel and a Rev Aii seq set-up to support. As for potential Res/SBR, well all I can see is the 50% of the 5046-4672 down swing in the vicinity but no 1hr prev sw hi or lo?

Well done

 

[babymush]

Pity I let it get stopped out. Sometimes it is a headache to worry if it will continue going down or will it reverse. As you said, maybe when there is more timeframes forming the correct patterns, the more we can let it run.

As in this case, as there was no confirming setup, it should have been taken at a small profit.

How much is reasonable to earn per day once I get slightly better? 30 pips on average?

 

[babymush]

Here is where I got the SBR