[B]CAS[/B]
I take it you’ve made some good returns lately Cas? Good for you! 
Cas.
Are you trading bounces off the 5 or 15 bb ? what’s your target? center bb?
R.C. whats your take on the 1h strat today, too horizontal ? too close to support for a sell ?
I’m in some profit with a sell but not by much yet an second guessin now.
[B]TalonD[/B]
On London Breakout 1, I switched to the 5m chart as I didn’t like that big move last night… no lower trendline. As soon as 09:00 GMT 5m took off and made 60 pips.
I have been trading the 5m all day, its been really kind for a change… bouncing off the outer boll bands each way almost all day.
Hi,
Thanks for your insightful input.Much appreciated.
[B]R Carter[/B]
Thx. The Market Gods have been kind to me lately.
[B]TalonD[/B]
I’m trading bounces of 5m and 15m BB in the direction of trend on 1h and/or 4h.
Also I trade the 4h BB for day trades and use 5m and 15m trading BB bounces during an 4h BB day trade.
Target is the outer BB in direction of trend. Sometimes profit target is major S&R as indicated on 4h.
I don’t trade counter trend with this system any longer. Instead I’m trading umbrella trades on 5m and 15m meaning trading the spaces between major S&R levels within 20 BB in directon of trend. Because the LWMA’s are so quick in responding I can exit those umbrella trades if they start going against me.
RC
Like John4pips I would like a little clarification on what you define as fine tuning entry/exits using the 5M and 15M.
I assume its not simply a case of entering/exiting when the MAs are all lined up and cross on the 5M or 15M given the likelihood of more false moves on the shorter timeframes?
[B]John4pips[/B]
This is going to sound strange but I’ll try and be as clear as I can.
If I am trading the 1h chart, I will actually be placing trades on the 15m chart. What I mean is I am looking to the 1h chart for where price is in relation to the bollinger band. Is it in the middle, can price possibly go both ways, if not why not? Is it in the lower or upper half of the bollinger or near the outer or lower bands. In other words is there room for the trade to develop in the direction I think it will?
Next I look to the previous spikes both low and high to significant support and resistance all on the 1h. Often you will find significant points of S/R on the 1h chart are far more clearly identified than on the 15 or 5m charts.
So to sum up. I look in detail at the 1h chart if I plan to trade the 15 or 5m chart. I look for all of the above. Then enter a trade at the outer bolls of the 5 or 15m chart on a PA reversal and backed up by a 3/6 LWMA line up confirmation. I then have a clear idea of where PA is likely to reach on the 5 or 15m chart based on my observations of the 1h chart.
Hope that sounds reasonably clear? 
Ah you answered while I was typing away! 
So based on your last answer I should get out of the short I entered half an hour ago cos even though its midway between the middle and lower BB on the 1H, the PA and MAs were close to the lower BB on the 5M ie oversold.
In fact PA is close to the middle band on the 5M as I type so I’m out for -5 pips! :mad:
That’s what I’ve been doing too, seems the safest way to do it. I guess this is called buying the dips and selling the rallies…just depends how often you get a full 15min retrace to the other side of the band. I find it more likely to happen on the 5min charts like RC’s 3line whip suggestion.
The only time I take a perceived counter trend bounce trade now is when there the price is nearing a S/R line and even then you have to be a bit careful because the S/R lines are never exact…safer to follow the crossover of the MAs after the bollinger bounce.
There you have it Cas, SanMiguel and I are in agreement.
We all look to the longer time 1h & 4h charts for significant S/R and where PA is in relation to the longer chart bollinger. Then look back to the 5 or 15m chart and trade it around the 1 or 4h chart.
The 1 & 4h chart may well over an extended period of time for the sake of argument allow PA to move from the lower boll line to the upper boll line but very rarely without significant retraces. Therefore its often more profitable to pick off the PA movement between the S/R levels of the longer time charts on the 5 or 15m charts. Also using the shorter time charts your exposure to risk is reduced and so is the size of the stop.
Finally as I have already stated, the LWMA’s react much faster on the 5 and 15m charts. On the 4h chart even using the fastest indicators you could quite easily find yourself down 50 plus pips.
[B]Red Ear[/B]
Your trading the 1h chart and thus price will zigzag up and down the 5m chart but is the 5m bollinger trending the way you expect if so then as long as your comfortable with a much longer trade then thats fine. Personally, I like to interday trade. I don’t like to leave a trade unattended overnight. Its personal choice and trading styles.
Thanks RC
Its a good job you don’t charge for your systems and advice like that BNB clown who, after I did a bit more digging, charges $99 per 30 days for his system! :eek::eek:
I’ll second that. anyone look at his youtube vid? wast of time.
just did a buy at 1.59307 MAs are pointed in the right directions. Any opinions?
well, stopped out just above break even 
I had a look at one of his vids on the eur/usd moves 2 weeks ago. To quote
[I]“It is bullish. It has the signs of bullishness. The behaviour is very bullish…”[/I]
So I guess it was bullish then…
:rolleyes: Good for a laugh if nothing else!
Keeping the powder dry at the moment - 1H BB pointing slightly down while 5M BB are slightly up and have diverged quite considerably in the past couple of hours so slightly
The counter trend looks to be good on the 5M BB - back down below the middle band now after closing out of the upper band half an hour ago
I missed a post somewhere, what’s a 3 line whip ?
Thank you.
I was playing around with an EA. on our 1h strat, it was a 2period lwma crossing a 20 period sma, started the backtest Jan 01 2008 through today. It gained from 10000 to almost 40000 before dropping back down. Funny thing is I had all the logic in reverse 
Here’s a graph
I want to thank you for all the great advice your giving, I�m learning a lot and appreciate your willingness to share, thanks!!! This morning I decided to try a slightly modified version of your 4h BB band set up. Sold GBP @ 1.5945 and still holding. Around 8:00 gmt the price dropped through the 20ma and has been {somewhat} bearish since. I�ll see what happens. Haven�t quite decided my SL yet, but probably a panic stop somewhere 20-30 pips north of the outer BB band or the 60ma. With sound mm and patience it looks like a good intra-week strategy. I�ll post up dates.
[B][I]And again, thank you![/I][/B]
I didn’t do so well on Asian session last night but should have. But did catch about half that big down move just following MAs on the 15m this morning, good for about 50 pips.
[B]d-pip[/B]
The candle you are talking about started it’s move down [B]@1.6027[/B] as candle color changed and bouncing off 4h 63 SMA. Your entry was about Middle 20 BB.
You have given away [B]82[/B] pips in that move.
[B]Also retracement hit 1.5037 at one stage …which means you had given ALL of your profits back except 8 pips. [/B]
[B][I]That’s not what this sytem is about.[/I][/B]
Perhaps it would be a good idea to read this thread from the beginning and apply the system as laid out, described and explained in detail.