4 hour trading entry and exit almost to the pip

hutrader, a good honest and simple thread, i love your phrase I DONT CARE etc in your first post and you are correct.This is simple and it does work. I trade slightly different, actually i trade a couple of different ways but they are just as simple to use. and for my stalker who follows me around notice the inside bars and outside bars which are normally present on hutraders charts. take care all nice thread.

good night ... just went to greet you and other followers of this forum.
keep up the good work hutrader, showing us more and more details on its inputs.
regards,
jvbs

Hi to all!
Dear Hutrader,hope to hear more of it.I tryed only one trade based on this,well, with an indi,but it was positive.Hope you still here.

Thank you for letting us know and the comment. I am still here, just watching for replies in this thread.
I took today 90 pips out of EU. Last week I've set 2 pending shorts but this morning I've heard on NEWS that Japan will get new chairman for their BOJ. So I removed the pending shorts :-( I better not listen news cause that would have been really nice trade. Even if only one got hit. Anyway, not complaining, the things work as they should. I see that sometimes price miss the target by 10 or 20 or 30 pips and pull the price completly the other way. This happens. I took this morning a long EU trade based on this. got out at 3310. Didn't checked the chart because I was at work just this afternoon. See, news simply influences peoples mind. Would have been nice if I left my pending short.

This was the pending sell I cancelled :-(

EJ got hit pretty hard after all. WHOW!

Why cancel a pending order with EURUSD because of news from Japan?

Because of EURJPY.

My current levels.

And my order set. Let's see. Got a 33 pip stop and a 267 pip target.

Placed also a sell limit with a 33 pip stop.

I hope to see my sell limit to be hit first then reach target and reverse there. In worst case scenario it takes out my stop of my pending sell. Pending buy remains for now.

I am long EURUSD with tight stop, initial target 1.3177

Trade has been stopped out I believe.

Hi there,

Just joined this thread, I too use this method, I draw my levels every Sunday night on the four hour and trade from the daily. I use confluence and price action. My method is to wait, be patient and look for candles at my levels and use two setups, they are engulfing or pin bars. I am in Australia and thoroughly enjoy audnzd pair, and have a stern objective that low volatility in pairs such as this can bring big pips because the action is so clear to see.

Are there many threads dedicated to price action. As this is my real interest, a nice clean chart and not to many pairs

Any thoughts...

Yeps that's gone but that is ok.

So, now I wanted to explain the most ideal way in a short trending market.

As you could see, in an uptrend price do usually retest the candles where they closed, but in a market that moves down things are a bit different. I'll be pretty honest and want to let you all know that I don't like to short. If I see a good opportunity I will take the trade but I do that with only half the size. The reason is because a market that is going down is very unpredictable in my opinion. However, there are always good levels to find. I find it usefull to look for fib levels.
Very simple and effective. What I do is take a simple fibonacci retracement and the 50 and 38.2 retracements are your entries. Nothing shocking and chart stays clean without Moving averages and lagging indicators. Below a chart from EU with fibonacci retracements.

ALWAYS use a 4 hour chart.

Alright, here some adition. As we can determine ALMOST to the pip our most ideal entry for the long trades the short trades have also something to watch for combined with fibs.

I marked A B and C.

Where A and C are the swing points. B is an intersection between a fib level and a candle low of a previous bounce. When these two allign you have a pretty good chance that it will be sold close to that level.

This is all you need. It really is. Target 1 is the low of the swing and the 161.8.
Now, it can happen that price don't even reach the 50% and stalls ahead. Don't worry! Let the market go without you! Don't try to chase the market cause it will nail your account. I guarantee you 100%. Just let the swing go and pull new fib once things start to recover / bounce.

So you can imagine now where EU will get some good sell interest.

But I am not going to sell there. The reason is simple. The previous swing didn't touched the 50%. So instead I extend my fib level.

Look at 38.2/

Anyway, What I currently see is this.

I will short the EU at the 1.3179/80 level, HOWEVER .... If that get's taken out than we will see 1.3335.