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One Hour Sniper (OHS)

  • #421
  • Aug 8, 2017 7:16pm Aug 8, 2017 7:16pm
Renofaith-

This is such an interesting way of trading. Also seems pretty simple. I am going to read all posts on this thread to understand this better.

Thanks for sharing your idea.
  • #422
  • Aug 9, 2017 10:04am Aug 9, 2017 10:04am
Quoting renofaith
I have a full time job, I could've taken the majority of these trades. {image}
How do you get such nice pretty HA candles? Mine looks like crap! Is there a setting or a custom indicator to get those?
  • #423
  • Aug 10, 2017 5:33pm Aug 10, 2017 5:33pm
Quoting Forex Girl
{quote} May I use the same settings to 15 M Chart??? Thank you
That's pretty much how I intend to tweak my lower time frame strategy.
I love to stare at price charts.
Thx Renofaith
  • #424
  • Aug 10, 2017 5:36pm Aug 10, 2017 5:36pm
Quoting clemmo17
@forex girl -why not? If you have the patience to watch the chart closely most of the day. I'm letting this EURNZD trade run over the weekend as the stoch tells me it has further to fall. You always need to be cautious trading against the longer trend but the daily chart tells me this should get down to at least 1.57 (prior resistance level). {image}
I let most of my trades run over the weekend. Please share your results with the thread if you don't mind.
Thx Renofaith
  • #425
  • Aug 10, 2017 5:40pm Aug 10, 2017 5:40pm
Greetings Traders,
What I love about these particular charts is I rarely have to go back to the Daily (in this case) to check the stochastics. I know by looking at this chart it's either descending or oversold. I haven't turned on a price chart in 2 days. This one is currently up just over 2% which is just fine by me.
This is one of the nicer MOVES that I spotted immediately.
Thx Renofaith
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 45 KB
  • #426
  • Aug 10, 2017 5:48pm Aug 10, 2017 5:48pm
Quoting lctrader11
Hi Folks, Really like this strategy; simple & straightforward. I do have one fundamental question that has always bugged me regardless of strategy & wondered if I could get someone to explain it. It has to do with looking at higher TFs and then moving to a lower one to find entry points. Scenario: When looking at the 4H chart, you mark a closed candle that you're interested in with a vertical line because it has met a certain set of rules (e.g. Stochastic has reached 80, crossing over, etc). On my charts, let's say, it says it is the 0700 candle....
I have many issues with experienced traders teaching MTF to younger traders.
Trade off the 4H after looking at the Daily... the obvious question here is how many 4H candles make up a Daily? You and I share the same sentiment on this.
MY CONCLUSION is simple-
1. find something simple that works for you.
2. test the H### out of it without getting analysis paralysis.
3. put as many odds as you can in your favor. (for many it is MTF)
**** 4. if hidden divergence is SAID to be the only 'leading indicator' in forex, why doesn't everybody just do that?
The answer to that is we love to complicate 'stuff' for no good reason (I'm so guilty).
I'm confident something in this reply will help.
Thx Renofaith
  • #427
  • Aug 10, 2017 6:02pm Aug 10, 2017 6:02pm
Greetings Traders,
I wanted to take a brief moment to thank each and every one of you for everything you may have added to this thread. Thank you for your comments, replies, awesome charts, winning attitudes and anything I may be forgetting.
I owe you all a large debt of gratitude.
I'm sharing what I can.
I'm learning just as many of you are.
I'm very proud of all of you.
Work has had me away for a couple of days, but I think if a trader were to tweak this to their style or liking, the possibilities could be virtually limitless.
It's my plan to be trading full time in a couple years. This will be one of my few strategies I fully intend to enlist.
Happy Trading to all
Thx Renofaith
  • #428
  • Aug 10, 2017 6:22pm Aug 10, 2017 6:22pm
This is another one of those knee jerk trades that even after studying my terminal, I simply do not know which TF I was basing the entry off of.
Hope someone caught this bullish move, perhaps someone who follows the 'rules'.
I do need to adjust my stop.
It is nice to open up the laptop after a day or two of no trading and find your balance is up a robust 3% in your absence.
Thx Renofaith
p.s. I did pull the trigger on the 2nd FYI
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDailywin.png Size: 41 KB
  • #429
  • Aug 10, 2017 6:33pm Aug 10, 2017 6:33pm
CAUTION TRADERS
I'm not gonna mention any names, but please double check your stochastic settings before trading. Some charts are showing 21.3.4 while others are showing 21.4.3. I'm honestly not sure what impact that could have on your entries.
If you're unsure, check my charts that I post.
Thx Renofaith
  • #430
  • Aug 10, 2017 6:37pm Aug 10, 2017 6:37pm
Quoting Forex Girl
{quote} May I use the same settings to 15 M Chart??? Thank you
This question has me curious early. TRY the 8.3.3. This is after looking at a 15m, then a 5m.
Best of luck to you.
Thx Renofaith
p.s. I would look for hidden divergence first, it greatly increases the odds- backtest, backtest, backtest
  • #431
  • Aug 10, 2017 7:04pm Aug 10, 2017 7:04pm
This is doable folks on the 15 minute TF. This is not the sexiest pair to trade, but...
1. the first red vertical line is taken off the 4H coming 'out of O/B territory'.
2. this is a 15m chart
3. this is hidden divergence.
4. notice the small red arrow, it notes a fractal (a high), I'd be making notes of this, I like to pull triggers with highs and lows 'next' to each other, but as traders, we know there is always risk.
5. I would have pulled the trigger on this mostly because (1) the 800 lb gorilla (London) had gone home, and (2) N.Y. had gone home as well.
6. If the noted fractal was not there, I would've pulled the trigger, regardless.
7. I did not participate in this event, I simply wanted to show what was possible with OUR stochastic on a much lower TF.
Good Luck to all
Thx Renofaith
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM15.png Size: 62 KB
  • #432
  • Aug 10, 2017 7:16pm Aug 10, 2017 7:16pm
The us yen was screaming come get me for hours just this morning. This trade should've netting a trader more than double your risk.
Thx Renofaith
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1one.png Size: 46 KB
  • #433
  • Aug 10, 2017 7:26pm Aug 10, 2017 7:26pm
A trader should've pulled the trigger on this 4H chart either Monday morning OR evening with a pending order. This descent would have had you up 'over' 3X your risk my friends.
Hidden Divergence is how I plan to fire my boss...
Thx Renofaith
p.s. Daily stochastic is screaming sell me!
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYH4.png Size: 46 KB
  • #434
  • Aug 10, 2017 7:37pm Aug 10, 2017 7:37pm
Quoting renofaith
This is kinda how I do it. 1. Scan 15 pairs ever 4 hours looking for the SIGNAL line to close above/below the 80/20. 2. Identify the pairs (write them down). 3. Pull up the hourly charts and wait for a stochastic crossover or a change in candle color. 4. There is your entry friends. 5. Exits, worse case scenario 1:1. There will be losing trades, I've spotted them, although I have not participated in any yet. This is forex. It probably wouldn't hurt to monitor news events. I don't. I wont. You can!!
Hi Renofaith

These rules are so simple to follow. I am looking at the USDCAD chart right now on 4H. It shows that the signal line is above 80. I then looked at H1 and I already see change in color candle. Is this perfect example to short this? Do I wait for the H1 candle to close at 9pm New York time?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 33 KB
Click to Enlarge Name: Screenshot3.png Size: 36 KB
  • #435
  • Aug 10, 2017 7:38pm Aug 10, 2017 7:38pm
Concerning the above chart...
I certainly hope everyone was able to catch the 'other' hidden divergence trade, same pair, same chart, same week.
The trigger would've been pulled 'last week', around the 2nd of August.
Thx Renofaith
  • #436
  • Aug 10, 2017 7:46pm Aug 10, 2017 7:46pm
Quoting yalgaar
{quote} Hi Renofaith These rules are so simple to follow. I am looking at the USDCAD chart right now on 4H. It shows that the signal line is above 80. I then looked at H1 and I already see change in color candle. Is this perfect example to short this? Do I wait for the H1 candle to close at 9pm New York time? {image} {image}
Your stochastics are not the same settings as ours. When you change your settings, you will see the 1H stochastic has NOT crossed over. Hold off for now on that trade.
Thx Renofaith
  • #437
  • Aug 10, 2017 7:47pm Aug 10, 2017 7:47pm
Stochastic settings need to be at 21,4,3, not 21, 3, 4.
  • #438
  • Aug 10, 2017 7:53pm Aug 10, 2017 7:53pm
Quoting renofaith
Stochastic settings need to be at 21,4,3, not 21, 3, 4.
Thanks for pointing this out. I have changed it now.
I noticed the crossover have not happened but I see change in the color of the last 1 hour candle.
  • #439
  • Aug 10, 2017 7:53pm Aug 10, 2017 7:53pm
Quoting yalgaar
{quote} Hi Renofaith These rules are so simple to follow. I am looking at the USDCAD chart right now on 4H. It shows that the signal line is above 80. I then looked at H1 and I already see change in color candle. Is this perfect example to short this? Do I wait for the H1 candle to close at 9pm New York time? {image} {image}
Yalgaar,
Your charts looks very clean and easy to read.
I would draw a trend line on your 1H chart and wait for a red candle to close below it, that decision is yours.
I would wait for the red candle AND the stochastic crossover. I likely need to edit that post. I would definitely wait on both to happen.
Hope this helps.
Thx Renofaith
  • #440
  • Aug 10, 2017 8:02pm Aug 10, 2017 8:02pm
Let me know how your trade pans out, the price looks like it's due to come down any time now.
I may have to adjust my stop on my end.
Thx Renofaith
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1winner.png Size: 44 KB
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