5m TF Price Action Strategy

Another setup today, on the USDJPY 5M chart. Hope you don’t mind me posting these charts, ninja. :slight_smile: Since this isn’t 100% the same as your methodology, I can stop if you find think it’s cluttering up the thread.


Hey Kevin,

For me this afternoon most pairs are between a rock & a hard place, I was watching the Aussie but it kept pulling back to the previous day’s low, which i’m always suspect about going short from. (something I need to change I think).

Interesting to note just after your marked entry, a ND shows up & price doesn’t have any complaints after this level.


Are those notes on your chart manually input at the start of each session?

Post away mate, please! It’s the same concepts really. I’m going to put my hand up and admit on this trade I took the first PB earlier, after 7 odd minutes noticed I’d missed a zero on my position size (ie: my risk was x10), had a think… thought it best to close the trade. Trade went onto about 4R :frowning:

Quite a **** outcome for doing the right thing! :stuck_out_tongue:

Please mate, do post anything you like eh. Do you trade full-time? I think I might have asked before. keen to know what sessions/pairs you focus on.

Yeah, I added them onto my chart as ‘labels’. It reminds me what kind of price movement to expect for each period.

I’m trying to trade as much as possible. I work five days a week, but the hours vary. I usually start work in the arvo and finish towards midnight here so I usually have the morning free to trade the Asian session. Other days, I might start early and finish just after lunch to trade the European + US sessions.

Ouch! We’ve all been there. :stuck_out_tongue:

ha, don’t even want to look at where UJ is now, I’d be putting the deposit on the yacht!

Hi guys.

Here is a nice set up on GBPAUD during the Asian session with price breaking out of the opening range and pulling back to the 14 ema with low volume. A clear path to the bottom of the range and prevous day high potential levels of resistance. A pity I missed it :slight_smile:


Daxter

G’day Guys,

This method is still alive and well and last night the market started moving a bit more ‘predictably’. I’ve spent a bit of time this last week looking at a 1hr chart, trying to give price a bit of context. I’ll report back any findings.

Cheers,

JN

Still with you, just been a bit busy this week and cut my pairs down to just 2.

Daxter

thank u for sharing this good method. I’ve made good pips on demo account by this method.

You’re welcome jack3, I think now that a few of the major pairs have broken their dam walls, there should be some nice trending entries.

Feel free to post any charts here or ask any questions.


AUDUSD nice long trend.

Morning Guys & Girls,

This past two weeks, I’ve been looking at volume (stopping volume primarily) on the 1 hour chart. It helped clear up the definitions of range bound activity, and really identify where the buyers and sellers were positioned.

Ultimately, it helped me have a strong bias when drilling down to the 5 minute chart. I’m going to continue to trade like this. This forum is still exactly what I use on the 5m chart to take my entries etc, but now I’m not leaning on the EMA’s or the simplicity of an opening range break to be long or short, for this I’m taking my clues from the 1 hour timeframe.

Not to leave anyone high and dry here, I highly recommend watching the videos over here YouTube (anything over 10 minutes are the more educational ones).

I’ll still post the odd 5 minute entry here and am more than happy to answer any questions about setups & entries etc.

Hi,

I’m a tad confused here.

When you say you will still “post the odd 5 minute entry” does this mean that you have a preference to enter on the 1 hour timeframe now?

Thanks,

John

Hi Skinner36,

I still use the 5m TF as my entry timeframe, but now I consider the higher timeframes to establish my bias.
We’re fairly active on forums over at 301 Moved Permanently if you’re interested.

Cheers,

JN

Thanks, I will start reading that one too. I am going to be a busy boy over the weekend

Thanks,
John

Hi JN,

I have started reading the Supply / Demand thread as you suggested (there is a lot there) but do you still trade this system as is described in the first six posts?

Thanks,

John

Hi John,

Yeh pretty much. The youtube videos are probably more informative though tbh.

Hi Guys,

I find the Murray Math S/R levels too restrictive and whilst they do keep you out of losing trades, they just as often keep you out of winning ones. I am currently looking at tick charts but keep the 5 and 1 minute charts open as confirmation.

Daxter

I agree with you there Daxter.

For S&R levels on the 5m chart, I like the previous session high & low, and the previous day’s “ultimate” Highs & Low.