Now i closed all my opened positions with profit.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Buy signal in AUD/CAD 4hrs = up Weekly = down 4hrs candle closed higher than LSH. {image}
very good.
i just wish to make a small alteration from where u started your LSH
your starting point of the LSH too far back, so i took the liberty in erasing the earlier section. please see your altered chart below.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
{quote} As i see 4hr chart USDCAD, i can see more than 4 -brb i marked green colour on chart -brb, please take a look. Is it correct? {image}
in an earlier post concerning that chart, i did ask if anyone can see the shorting signals that i did not mark. u did, well done. [checkout page 50]
- Joined Mar 2007 | Status: Trader | 1,190 Posts
let's take a look at EURUSD 1] M+d=uP 2] W+4hrs=uP since both trade directions are up, i will focus on 4hrs. so our Trading Bias for this Week is long and the 4hrs are the chart which will produce the buy signals. ... at the moment, 4hrs are in Short Mode which is counter-trend... this we call Strategy 2. so if u have a short on then keep it until a +brb forms or lower your SL as each 4hr bar close to just above the high of the last bar. ... when a +brb formed we should then enter buy immediately... didn't i say that the strategy is simple but when...
i'm showing the pre-setup chart with 2 others.
...take note of SL placement. [R:R]
this is what happened in that W+4hr trade of earlier today. SL will be moved up after this post.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
EURUSD trade management: 
- the below 4hr entry chart shows the new signal with price level and position of entry. this buy entry signal we call, Stacking Signal... unfortunately for me, this signal appeared during my sleeping time so we missed the ideal entry, but there were others who would have been awake [east of me] that would have seen this stacking signal and probably take advantage of it and be in a floating profit of 20 to 30 pips by now.
... all i am doing with this chart is to show the Stacking/Pyramid Signal and its best entry.
... i took the entry but are about 2hrs too late. also entered a protective SL for this trade.
- 2] Moved SL up to protect some gains of our 1st buy which is about 40 pips. please take note of the Stop Loss Placement.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
i am a it late with alert, but this Dly Chart below shows the Counter-Trend [ct] entry Signals in white.
All the Green Arrows are trades with the trend...which trend ? ....the trend of the Higher timeframe Monthly Close which is Down... M+D=Down
there are 2 buy trades here.
All the Green Arrows are trades with the trend...which trend ? ....the trend of the Higher timeframe Monthly Close which is Down... M+D=Down
there are 2 buy trades here.
- a Dly buy with SL=PT as an be seen on the chart
- and a another buy on a smaller tf which is of no concern for now. that buy obviously has a much smaller SL. Please focus on the Dly ct buy.
- IMPORTANT: the best trade signals for GBPUSD & EURUSD generally appears around the LO [London Open] so, if one waits till then a better signal may appear.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
I supose that i am late with opened new position but i take a risk and opened short USD/CHF. 4hrs down; weekly down {image}
and well done on all your trades yesterday, i re-call they all ended in profit. just keep in mind that it will not be like that everyday.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
I supose that i am late with opened new position but i take a risk and opened short USD/CHF. 4hrs down; weekly down {image}
what u did with that horizontal line is to apply the Counter Trend strategy principles.
- NB: the signals in 4hrs DO NOT need any lines if u trade in the direction of Last Week's close... make sure u understand this please because your entries are way too late.
- that white line does not belong on your chart when u trade in the direction of the weekly close, W+4hrs=Down.
- do u understand this ???
- and, your SL is placed too far away.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
this is Strategy 1
i did not point out any additional and optional signals in order to render a clearer understanding.
i did not point out any additional and optional signals in order to render a clearer understanding.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
and this is Strategy 2
which is basically counter trend strategy with regard to the previous weekly close.
you will notice the charts are the same timeframes of this post and prior post above.
which is basically counter trend strategy with regard to the previous weekly close.
you will notice the charts are the same timeframes of this post and prior post above.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Excellent charts show your thought process. It really makes things clear using the two charts. Almost like a light bulb going off in my head. Thank you Sunshine.
now take your time and go thru a few charts on your own, should u need any help then please ask, we are all here... and keep your charts the same way as the one's that made your understanding a pleasure.try not to add anything to your charts, because an indicator may just add clutter to your chart at this stage.
then,
- take only one trade with a SL,
- do not move your SL after the close of every bar, let it be, in other words, be resigned to the possibility that the trade may turn into a loss.
- exit this trade when u encounter a reversal bar; for a buy trade u will exit on a -brb and for a short trade u will exit on +brb
- re-enter when a new signal is presented, wait for signal bar to complete before entry... do not enter while the bar is still being formed.
- this exercise should teach u a few things about yourself, some good and some bad... make a note of them.
- lastly, do this exercise in a timeframe that suits your lifestyle, if u can only look at the charts twice a day- before work in the morning & after work in the afternoon- than select the Daily tf, M+D combo... if u can manage to check your charts every 4hrs [that means getting up from sleep once or twice] than select the Weekly+4hrs combo... but whichever one u choose, make a commitment to see the Higher tf period thru, for Dly it will be the whole month of 22 trading days and for 4hrs it will be all the 30 bars that makes up the Wkly.
- be presented when your selected bar closes... try not to be late.
- hope this help u or someone else.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
UPDATE: the buy trades of the EURUSD were stopped out for a net gain.
no trades on at the moment in this pair.
we are waiting to see which way today will close, below the preliminary LSL- blue line, or above it before a trade is initiated again.
NB: if your trading Station has a different close than mine then u will have a Short Signal today... just follow your signals, see next chart in the next post.
Dly chart is presented as per both Trend Following and Counter Trend strategies for learning purposes. 
no trades on at the moment in this pair.
we are waiting to see which way today will close, below the preliminary LSL- blue line, or above it before a trade is initiated again.
NB: if your trading Station has a different close than mine then u will have a Short Signal today... just follow your signals, see next chart in the next post.
Dly chart is presented as per both Trend Following and Counter Trend strategies for learning purposes.
- Green shows M+Dly=uP
- Blue shows CT signals, LSL & LSH closes.
- Joined Mar 2007 | Status: Trader | 1,190 Posts
EURUSD Dly different day closes produces different signals... don't stress...just trade your own signals that your trading platform generates.
