This is what happened of my previous example before the market close on friday
using the breakout strat of UTD
see #post
using the breakout strat of UTD
see #post
- #128,512
- Dec 8, 2021 7:31pm Dec 8, 2021 7:31pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Hi Emmanuel , I wouldn't enter on those premises, but it is more like a feeling which is behind my conclusion, week previous day within PAC . Would you wait for 4H to get out of the PAC ? Do you have to wait for 2 4H candles outside of the PAC or is it enough with one depending of the Daily candle ? Could you pl tell me which indicator you use showing all higher TF ? Is it a PCU killer ?
Trading the 4H
when I use the PAC the same way Big E had use that in his old thread, the same 'importance' rule important applies.
No.1 importance > is the price action for the trade setup
No.2 importance > when both the Stoch and RSI green price line for the MOMENTUM of the setup
A setup which closes above or below the PAC high or low is less risky. I know Big E did take some trades , for example buy when the reversal setup is above the PAC low and sell when the reversal is below the PAC high, i.e. the price has not close outside of the PAC high-low.
Example today USDCAD as Tokyo 10:20am
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,513
- Dec 8, 2021 7:33pm Dec 8, 2021 7:33pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Hi Emmanuel , I wouldn't enter on those premises, but it is more like a feeling which is behind my conclusion, week previous day within PAC . Would you wait for 4H to get out of the PAC ? Do you have to wait for 2 4H candles outside of the PAC or is it enough with one depending of the Daily candle ? Could you pl tell me which indicator you use showing all higher TF ? Is it a PCU killer ?
Go to this thread by member FerruFX
New FFx standard indicators
https://www.forexfactory.com/thread/...ard-indicators
and download his package and unzip the files.
I use only two of his indicators in sub-windows:
- FF Moving Averages and set that to show as the Price Action Channel PAC on all timeframes - H1, H4, D1, W1, MN
- FF Stochastics same setting to show only H1, H4, D1 and W1... for the Reversal Candle setup
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,517
- Edited 2:24pm Dec 9, 2021 2:09pm | Edited 2:24pm
{quote} Could you pl tell me which indicator you use showing all higher TF ? Go to this thread by member FerruFX New FFx standard indicators https://www.forexfactory.com/thread/...ard-indicators and download his package and unzip the files. I use only two of his indicators in sub-windows: - FF Moving Averages and set that to show as the Price Action Channel PAC on all timeframes - H1, H4, D1, W1, MN - FF Stochastics same setting to show only H1, H4, D1 and W1......
Thank you for the indicator !
Regards
- #128,519
- Dec 9, 2021 7:11pm Dec 9, 2021 7:11pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,520
- Dec 9, 2021 7:17pm Dec 9, 2021 7:17pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Hi pipsit Trading the 4H when I use the PAC the same way Big E had use that in his old thread, the same 'importance' rule important applies. No.1 importance > is the price action for the trade setup No.2 importance > when both the Stoch and RSI green price line for the MOMENTUM of the setup A setup which closes above or below the PAC high or low is less risky. I know Big E did take some trades , for example buy when the reversal setup is above the PAC low and sell when the reversal is below the PAC high, i.e. the price has not close outside...
USDCAD H4 trade update Dec10 Tokyo 10:00am
- taken +20pips profit and now candlestick trailing stop ...
- next RN 1.2750
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett