H4/D1 Entry with W1 Trend | Forex Factory

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H4/D1 Entry with W1 Trend

  • #1
  • First Post: Jul 20, 2007 2:51pm Jul 20, 2007 2:51pm
I'm trying to develop buy stop/sell stop entry method base on D1 or H4 TF. Basically set and forget for the day.

I could have found something. Last 3 weeks, total 9 trade. 1 loss, 1 break even, 1 still open, the other 6 in profit. Total about 200 - 300 pips.

Any feedback (+ or -) are welcome

Basically follow the W1 Stoch and/or JMA direction. Enter buy stop/sell stop when a opposite daily candle is formed. eg. during up trend and a bearish daily candle is formed. enter buy stop some pips above the high and stop loss some pips below the low. Another way is to enter base on H4 Stoch.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 71 KB
Click to Enlarge Name: eurusd1.jpg Size: 89 KB
  • #2
  • Jul 20, 2007 3:17pm Jul 20, 2007 3:17pm
Hi Jackt

thanks for sharing. could you please elaborate bit more for newbies like myself

cheers
tasse
  • #3
  • Jul 20, 2007 4:30pm Jul 20, 2007 4:30pm
Looks Great! Find a good entry - Stay in the trend - Buy more positions in the dips.

IMO: Participating in Fx any other way amounts to gambling. Would rather keep positions for a month and come out on the otherside with $4,000, than nickle and dimeing away my margin for 10-15 pips a day.

What MAs are you using.

Any other indicators (and their settings) you'd reccomend for spotting entries/reversals?

Inform the group if you spot any potential good entries.

Have a look at EUR/AUD, USD/CAD...

L.

Quoting jackt
I'm trying to develop buy stop/sell stop entry method base on D1 or H4 TF. Basically set and forget for the day.

I could have found something. Last 3 weeks, total 9 trade. 1 loss, 1 break even, 1 still open, the other 6 in profit. Total about 200 - 300 pips.

Any feedback (+ or -) are welcome

Basically follow the W1 Stoch and/or JMA direction. Enter buy stop/sell stop when a opposite daily candle is formed. eg. during up trend and a bearish daily candle is formed. enter buy stop some pips above the high and stop loss some pips below the low. Another way is to enter base on H4 Stoch.
  • #4
  • Jul 20, 2007 6:06pm Jul 20, 2007 6:06pm
Please post your template (one with the weekly stoch). I want to give this a try. Thanks!
  • #5
  • Jul 20, 2007 9:54pm Jul 20, 2007 9:54pm
Quoting lcfxtrader
Please post your template (one with the weekly stoch). I want to give this a try. Thanks!
The Indicator/template is attached.

Please note:
1. use GMT + 0 broker. This will affect the JMA.
2. the mtf Stoch is smoothed for higher time frame.

I'll post some more chart later
Attached File(s)
File Type: zip Indicators.zip   40 KB | 1,013 downloads
  • #6
  • Edited Jul 21, 2007 12:27am Jul 20, 2007 11:18pm | Edited Jul 21, 2007 12:27am
Quoting Linuxist
Looks Great! Find a good entry - Stay in the trend - Buy more positions in the dips.

IMO: Participating in Fx any other way amounts to gambling. Would rather keep positions for a month and come out on the otherside with $4,000, than nickle and dimeing away my margin for 10-15 pips a day.

What MAs are you using.

Any other indicators (and their settings) you'd reccomend for spotting entries/reversals?

Inform the group if you spot any potential good entries.

Have a look at EUR/AUD, USD/CAD...

L.
see the 2 charts. It is my thinking process on last week usd/cad trade if I was trading.

If I were to trade usd/cad the coming week I will do the same - wait for h4 blue and orange stoch into 80 zone and sell stop of opposite direction candle pending Monday W1 stoch and D1 JMA movement.

Cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 73 KB
Click to Enlarge Name: usdcad1.jpg Size: 75 KB
  • #7
  • Jul 21, 2007 4:46am Jul 21, 2007 4:46am
Jackt..thanks for sharing your ideas but the only problem that i see is that the yellow weekly stochastic at the picture is lagging by 5 days so what do you do, you wait a whole week before acting or what..thanks again
Attached Image (click to enlarge)
Click to Enlarge Name: lagging stoch..jpg Size: 56 KB
  • #8
  • Jul 21, 2007 7:29am Jul 21, 2007 7:29am
Quoting cementman
Jackt..thanks for sharing your ideas but the only problem that i see is that the yellow weekly stochastic at the picture is lagging by 5 days so what do you do, you wait a whole week before acting or what..thanks again
Don't have a good rule. Generally, I trade every day. Just look at the slope and position of the yellow stoch + D1 JMA to determine the trend direction.

If they don't agree trend could be changing.
  • #9
  • Jul 21, 2007 8:42am Jul 21, 2007 8:42am
Quoting tasse
Hi Jackt

thanks for sharing. could you please elaborate bit more for newbies like myself

cheers
tasse
hi tasse, i don't have good rule yet.

Anyway please see the attached usd/jpy charts. It was one of the winning trade, 100 pips I did 4hr entry.

Basic idea is to trade with trend. When both W1 stoch and D1 JMA35 agree look to place buy stop/sell stop after opposite direction D1 candle.

Feel free to ask any question.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 74 KB
Click to Enlarge Name: usdjpy1.jpg Size: 72 KB
  • #10
  • Jul 21, 2007 9:09pm Jul 21, 2007 9:09pm
ok. some good news and potential not so good news.

good news first.
2 trade were closed in profit on Friday.
usdjpy - 60 pips
gbpusd - 170 pips

potential not so good news.
the only open trade is usdchf currently stand at -15pips.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.jpg Size: 82 KB
  • #11
  • Jul 26, 2007 3:36pm Jul 26, 2007 3:36pm
Broke 200sma/4 Hr. ANd this despite bad news. Could be the start of a good run.

L.
  • #12
  • Jul 27, 2007 10:15am Jul 27, 2007 10:15am
Quoting Linuxist
Broke 200sma/4 Hr. ANd this despite bad news. Could be the start of a good run.

L.
Well ,daily looks like still down trend. remember to tighten stop.

and, gbpusd, eurusd could be heading to the 50% retracement.

btw, I didn't trade for the whole week. A bit confuse. I'll start next week.

Happy trading
Attached Image
  • #13
  • Aug 11, 2007 12:05am Aug 11, 2007 12:05am
ok. last few weeks was not doing so well. I was confused.

Total 5 trade closed. 3 win and 2 lost.

usdchf, -81 pips, this was the remaining open trade in the first post
eurusd, -36 pips, my fault, didn't follow the rule, was chasing the price.
eurusd, +104 pips
gbpusd, +22 pips, this was chasing the price too. somehow notice it and closed in time.
gbpusd, +105 pips.

Total: +114 pips.

2 points noted.
1. Someone told me trading is like a sniper job; one shoot one kill. I'm trying to be a sniper. not quite there yet.
2. Market is kind when trading with trend. It give you some chances to exit if you enter at the wrong place. eg. the 2 losing trade has a few chances to exit at BE or even with +ve pips. I just didn't take it.

btw, I've refined the entry and exit rule a bit. I'll post them later.

jackt
+++ pips for everyone
  • #14
  • Aug 11, 2007 8:04am Aug 11, 2007 8:04am
It seems during uptrend orange (14,3,3) stoch will often reach 90 level. it signal a price high. Same for downtrend orange (14,3,3) stoch will often reach 10 level and signal a price low.

I thought it's good exit point, help to stay in trade, help in entry.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1.1.jpg Size: 77 KB
  • #15
  • Aug 11, 2007 8:53am Aug 11, 2007 8:53am
"The simple definition is that a short term stochastic will move away from the longer term stochastics and then eventually return back to the long term stochastics." Spudfyre explain stoch elasticity well http://www.forexfactory.com/showpost...93&postcount=6

my observation is that elasticity is directional ie downward elasticity only happen during down trend. just like the example in the chart. upward elasticity only happen in up trend.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1.2.jpg Size: 79 KB
  • #16
  • Aug 11, 2007 10:36am Aug 11, 2007 10:36am
I was having issue looking for good entry point. Should I enter at 23%, 50%, 61.8% retracement? or may be after stoch cross? How to know how far the retracement will be?

Fortunately a kind person from another forum taught me the rectangular bar entry technique.

I called it opposite direction candle.

In the example below. daily stoch shows down trend. an opposite direction candle is a white candle, it goes against the daily trend.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1.jpg Size: 75 KB
  • #17
  • Aug 13, 2007 8:13am Aug 13, 2007 8:13am
the possible elasticity in post 15 came true. I got 34 pips

aren't the 2 elasticity looks the same!!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1.jpg Size: 81 KB
  • #18
  • Last Post: Aug 22, 2007 8:31am Aug 22, 2007 8:31am
looks like an elasticity pattern forming in gbpusd d1
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.jpg Size: 71 KB
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