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4H 5EMA System

  • #2,901
  • Jan 29, 2009 7:56am Jan 29, 2009 7:56am
Quoting thehenryfam
I began to trade the daily on a LIVE account last night, so this is my first trade with it.

Currently down about 185 pips. Stoploss only about 80 pips away.

Scott
I guess For trying to get into the daily entries, It would be best to enter on Sunday as your range or size of the candle will be small and any loss would be small.
  • #2,902
  • Jan 29, 2009 8:23am Jan 29, 2009 8:23am
Suddenly the 'shooting star' isn't looking so ominous.

But a 4H close above this line (see arrows) as a new high / close would.

Otherwise, we have a 'double top' formation and down she goes.


2 1/2 hrs to go til the candle closes.

Dr. D.
Attached Image (click to enlarge)
Click to Enlarge Name: 4h close.gif Size: 51 KB
  • #2,903
  • Jan 29, 2009 8:51am Jan 29, 2009 8:51am
Well, it was my understanding that the Sunday candle was considered to be a part of Friday's candle in the daily system (at least that is what El Dee indicated to me -- or maybe that is just how he trades it?). In any event, too late now. LOL

Quoting IKent
I guess For trying to get into the daily entries, It would be best to enter on Sunday as your range or size of the candle will be small and any loss would be small.
Prices are never too high to begin buying or too low to begin selling.
  • #2,904
  • Jan 29, 2009 8:56am Jan 29, 2009 8:56am
Support and resistance comes in different forms.
We use the 5EMA's as a form of 'moving S/R'.

So are horizontal S/R's and Pivot- S/R's. Here's
a trendline that should be respected or at least
be cognizant of.

Things to watch in patience with the candle closes.

Dr. D.
Attached Image (click to enlarge)
Click to Enlarge Name: trendline off 4h.gif Size: 56 KB
  • #2,905
  • Jan 29, 2009 11:22am Jan 29, 2009 11:22am
"Shooting star" - trend reversal
followed by
"Spinning top" - indecision

Are we going up or down?

I think this up move will be short lived.

We'll see.

Dr. D.
Attached Image (click to enlarge)
Click to Enlarge Name: spinning top.gif Size: 51 KB
  • #2,906
  • Jan 29, 2009 11:35am Jan 29, 2009 11:35am
Still short @ 1.4238 with S/L and buy-stop @ 1.4401
according to the charts.

Dr. D.
  • #2,907
  • Jan 29, 2009 3:08pm Jan 29, 2009 3:08pm
So are we now pending short at 1.4071 less 5 (on Alpari US)?
  • #2,908
  • Jan 29, 2009 3:28pm Jan 29, 2009 3:28pm
I too would like confirmation on this from one of the veterans of the daily system. It would appear that Tweak #1 comes into play here? So when the current bar closes, we would be placing new orders at the high plus 10 and the low minus 5? Is this correct?

Thanks for your help.

Scott

Quoting leis
So are we now pending short at 1.4071 less 5 (on Alpari US)?
Prices are never too high to begin buying or too low to begin selling.
  • #2,909
  • Jan 29, 2009 3:53pm Jan 29, 2009 3:53pm
Quoting fourxtrader
Still short @ 1.4238 with S/L and buy-stop @ 1.4401
according to the charts.

Dr. D.
This is correct and still the current situation on the 4hr TF. I dont trade the daily version, so perhaps El Dee or Howard could address any queries on that front.
If there is ever any doubt then there is no doubt.
  • #2,910
  • Jan 29, 2009 7:13pm Jan 29, 2009 7:13pm
A 4H candle changes and no one here to watch.

Everyone in a blackout....... or just trading the daily.

With this closed candle, we now have a new long set-up candle.

Contingent buy-stop @ 1.4297 with a S/L below the set-up @ 1.4196

The buy-stop will also close out any current short trades.

Hoping we have a few more lower lows and long set-ups to put the
short position (from 1.4238) which has been running for 3 candles into profit.

Dr. D.
  • #2,911
  • Jan 30, 2009 12:25am Jan 30, 2009 12:25am
Quoting thehenryfam
I too would like confirmation on this from one of the veterans of the daily system. It would appear that Tweak #1 comes into play here? So when the current bar closes, we would be placing new orders at the high plus 10 and the low minus 5? Is this correct?

Thanks for your help.

Scott
Ah yes - forgot 'the tweak'!!
  • #2,912
  • Jan 30, 2009 1:40am Jan 30, 2009 1:40am
Daily is still flat

Pending buy at 1.4419
Pending sell at 1.4066
Regards
  • #2,913
  • Jan 30, 2009 3:38am Jan 30, 2009 3:38am
Quoting howard
Daily is still flat

Pending buy at 1.4419
Pending sell at 1.4066
Hello .
Why pending buy at 1.4419 ?? On my chart high from yesterday was 1.4393 and I placed pending buystop at 1.4403. Please coment.
Regards
Peter
  • #2,914
  • Jan 30, 2009 3:46am Jan 30, 2009 3:46am
And my current situation for 4h after 8 candle close is :
buy from 1.427 SL 1.4207
sellstop at 1.4207 SL 1.4352
Regards
Peter
  • #2,915
  • Jan 30, 2009 5:13am Jan 30, 2009 5:13am
Quoting pitpiter
Hello .
Why pending buy at 1.4419 ?? On my chart high from yesterday was 1.4393 and I placed pending buystop at 1.4403. Please coment.
Regards
Peter
Hi

My chart from alpari uk shows a high of 1.4409 for yesterday, it is really a big difference 16 pips.
Regards
  • #2,916
  • Jan 30, 2009 5:21am Jan 30, 2009 5:21am
Yep, the brokers obviously differ a little. My high at IBFX is 1.4411, so my buy stop is at 1.4421. A few pips aren't going to make any difference on a daily (or even 4H) system.

Scott

Quoting howard
Hi

My chart from alpari uk shows a high of 1.4409 for yesterday, it is really a big difference 16 pips.
Prices are never too high to begin buying or too low to begin selling.
  • #2,917
  • Jan 30, 2009 8:26am Jan 30, 2009 8:26am
Quoting howard
Hi

My chart from alpari uk shows a high of 1.4409 for yesterday, it is really a big difference 16 pips.
I,m use Alpari US demo .
  • #2,918
  • Jan 30, 2009 10:39am Jan 30, 2009 10:39am
Read the rules at the first of the thread and posts by
El Dee 2772 and 2741 along with any post by Sterling,
the founder, El Dee, Tonirai, Howard and a select
few others who have been at this for some time.

It works and I still struggle sticking to the rules.

Not much is posted here because you only check your
charts on the 4H or Daily updates.

Dr. D.
  • #2,919
  • Jan 30, 2009 10:42am Jan 30, 2009 10:42am
Quoting fourxtrader
Read the rules at the first of the thread and posts by
El Dee 2772 and 2741 along with any post by Sterling,
the founder, El Dee, Tonirai, Howard and a select
few others who have been at this for some time.

It works and I still struggle sticking to the rules.

Not much is posted here because you only check your
charts on the 4H or Daily updates.

[color=blue][i]Dr....
Hi,
How to setting the 4H5EMA system ?
thanks.
  • #2,920
  • Jan 30, 2009 2:36pm Jan 30, 2009 2:36pm
Hi All,

I have traded this system a month now. Here is my pips count for Jan 05 to Jan 30, total = 393+ pips. Once time pips count was up 1123 pips. The system gave a lot of pips back through side way market but the last trade made up the pips counts for the month. Like Sterling said, take every trade.
Thank you for all your help.
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