bobby2, WELL DONE
1
Good morning, taking a trade 11 bars later ... I second bobby, this often may be too late. Have a look at the TMS thread beginning of Eric RIP. He mentioned, that a lot of H4 candle series same direction end after several, so he took trades only until 2nd candle after a signal. Back to GMS, following charts are with timeframe H4 too, so you have to look, if there are some similar usable technicals with the H1. {image} Selling EUR/JPY below downtrend MA60 (red) and no cover at blue candles this am, because the indicators (TVI, CCI, T3, GHL) and ASCTrend...
I like your 4H setups and the way you approach it. By the way, you mentioned you enter only after the arrow signal candle, would it be too late then? Will you go down into smaller time frame for setups? Can i know what is the blue underlined indicator you have on your chart? Is it weekly ATR? Thank you for enlightening
Oh, and thank you Bobby for your work! Am still reading up on your new take on it slowly.
- #963
- Oct 10, 2017 7:17am Oct 10, 2017 7:17am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
EU on M5 just be a few minutes before NY open (yellow dotted line). Entry price is 1.17939. Next round number is 1.8000 Resistance marker at 1.1799. Here is where I use the Auto TP.set for 6 pips. Hesitated to enter because Genesis was already 3 bars into the trend. But decided to go. Let's see what happens.
- #964
- Oct 10, 2017 7:27am Oct 10, 2017 7:27am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Now my S&R indicator indicates the move up might be finished. Hmmmm. I'm gonna hang here for a bit.
- #965
- Oct 10, 2017 7:39am Oct 10, 2017 7:39am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
I think NY is SL hunting. I'll wait.
- #966
- Oct 10, 2017 8:26am Oct 10, 2017 8:26am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Nope. Not this time. EU suddenly became anemic after the NY open, at least for the 1st hour. I entered too late and stayed too long. I tried to predict where price would go. I disregarded signals telling me where to get out. I broke the rules. I was a very, very bad boy. Cost me 10 pips. What;s the lesson ? Follow the damn rules.
- #967
- Oct 10, 2017 8:33am Oct 10, 2017 8:33am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
LOL!! Sure eenough, as soon as I got out price heads back toward my entry. Genesis and ASCTrendi say buy. Uh-uh. No thank you.
- #968
- Oct 10, 2017 8:52am Oct 10, 2017 8:52am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Whoops! I lied. Couldn't help it
Kaplan's yakkin' in a minute. I'm out.
Kaplan's yakkin' in a minute. I'm out.
{quote} Hi Josch I like your 4H setups and the way you approach it. By the way, you mentioned you enter only after the arrow signal candle, would it be too late then? Will you go down into smaller time frame for setups? Can i know what is the blue underlined indicator you have on your chart? Is it weekly ATR? Thank you for enlightening
I often have a look at other timeframes, but I don't pay much attention to the lower ones. If you trade H4, you may argue if it is wise to sell a few pips above a round number, same vice versa. But that's the way to trade larger TFs. If you are looking down the TFs you always will find a reason not to exec a trade as well as find a reason to cover an executed trade earlier as your target is hit.
Some important points:
1. It is important to have a look left and at the next higher TF, trading the H4 this is daily. Question - do you want to risk a buy, if looking left there is no HH last days or weeks?
2. Executed a trade and nearing your target, do you want to risk a retrace/resistance of a daily or weekly pivot, if your target is only a few pips away between the price and your target or cover at this level?
3. Red news - not as important as with lower TFs - but still possible to have a (large) impact, so as above, you want to take the risk? - If you are trading mainly TA as with the GMS, the idea is not News trading, better to avoid it.
The blue line is the DOL (daily open line) - only reference where session of day started.
good luck
josch
trading is war - life is simple
- #971
- Oct 10, 2017 1:53pm Oct 10, 2017 1:53pm
- Joined Oct 2010 | Status: Trader | 1,536 Posts
{quote} you are in a hurry. you could have stayed a bit longer . could have made some pips
.
{quote} In hindsight I guess you're right. But if I haven't got a clue what's going to come out of the mouths of people who are influential in financial markets, I just wait till they're done. People like Drahgi, Yellen, POTUS, Carney, etal, have cost me tons of pips and I'm not smart enough to figure out what they might or might not say so I try to avoid them. Not in a hurry though. EU paid me back, plus some, later.
I think you just need to follow the technicals. once they start to open their mouth steps should be taken to make sure that no trades in the terminal should be present.
- #975
- Edited 6:29am Nov 24, 2017 6:11am | Edited 6:29am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Apologies if this has been already asked before, but is there anyway to setup an alert which alerts when within the "GenesisMatrix" all blocks are red or white and at the same "ASC-Trend Matrix 2TF" both blocks are red or white. i.e. so all blocks on both Indicators are white I want an alert or if all blocks are red on both indicators I want and alert. Thanks
The alert on ASCTrend matrix is only for the current TF. If you would like, you can try using the MTF Arrow signal. That will print an arrow for each current TF price bar that closes where ASCTrend is seeing a change in trend on the next highest TF until the time-cycle for the next highest TF is completed. So on an M5 chart, you will see 3 arrows showing completion of the trend change on M15.
- #977
- Edited 8:41am Nov 25, 2017 8:21am | Edited 8:41am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
{quote} I tried downloading these MTF arrows,it doesn't show p on my chart,do u the reason?
Open a new window and go to where you saved both the MQL4 and EX4 files of #MTF Arrow 3.00nmc
Highlight the files with your mouse then click "Copy"
Go back to the MQL4 Indicators folder. Right click on any blank space and click "Paste".
Make sure both versions are now in your Indicators folder.
Close your MT4 platform, and open it again. Check to see that #MTF Arrow 3.00nmc appear in your Navigator folder.
Without changing the settings the arrows should appear wherever the next highest time frame changes trends.
Also, make sure you have ASCTren1i in your Navigator folder. If you don't, I attached 2 versions below, one with alert, one without. Some people are annoyed by alerts. (NOTE: #MTF ARROW 3.00nmc indicator was re-coded from Cody's original 2.01 version found in the original Genesis thread. The only reason Cody's version was re-coded was because it had stopped working on newer MT4 Builds. No change was made to the indicator itself.)
- #978
- Edited 2:36pm Nov 25, 2017 2:16pm | Edited 2:36pm
- Joined Sep 2017 | Status: Trader | 2,692 Posts
