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4H Box Breakout

  • #341
  • Jun 6, 2009 6:17pm Jun 6, 2009 6:17pm
Your saying the start of Asian on Monday?
Is that not the same thing as the 4 hour with the line metatrade makes for weekly divisions? Control Y?
How do I know if mine is correct?
Forex.com

Quoting Ace284
Start of Asian Session NOT start of your own week.
Gary
  • #342
  • Jun 6, 2009 6:22pm Jun 6, 2009 6:22pm
How do you have 4 TP?
When I set my order I can only set a TP and SL and trailing stop. How can I set 4 targert prices...
Gary
  • #343
  • Jun 6, 2009 6:37pm Jun 6, 2009 6:37pm
Quoting alpine4133
How do you have 4 TP?
When I set my order I can only set a TP and SL and trailing stop. How can I set 4 targert prices...
You don't set 4 target prices at once...
You set a TP at one of the four targets
  • #344
  • Jun 6, 2009 6:44pm Jun 6, 2009 6:44pm
Quoting alpine4133
Your saying the start of Asian on Monday?
Is that not the same thing as the 4 hour with the line metatrade makes for weekly divisions? Control Y?
How do I know if mine is correct?
Forex.com

Last Week (June 1st - 5th)
High - 154.47
Low - 152.46

Week before last: (May 25th -29th)
High - 151.02
Low - 149.98


Use those as reference to find which candle it was on MT4.
  • #345
  • Jun 6, 2009 7:06pm Jun 6, 2009 7:06pm
How do you determin which TP to pick?

Quoting Ace284
You don't set 4 target prices at once...
You set a TP at one of the four targets
Gary
  • #346
  • Jun 6, 2009 7:16pm Jun 6, 2009 7:16pm
Quoting alpine4133
How do you determin which TP to pick?
I use to go with 2x, but now I find that 3x is more profitable.
  • #347
  • Jun 6, 2009 11:12pm Jun 6, 2009 11:12pm
Quoting Phil
I trade a very similar strategy on GBP/USD. Just like Ace284 I discovered it in 2008 and I've been doing it live since Dec (great minds think alike, huh Ace)....

Hi phill....
i'm new trade n confused
why in 11 may09, 16 mar 09 , ect
have no position.. long n short is empty...
n please teach me about atr.. how can i use atr?
thx phil..
  • #348
  • Jun 7, 2009 12:33pm Jun 7, 2009 12:33pm
Timing:
does any one know if Forex.com or FXDD uses the candle with the weekly mark, or is it one before or after or...which one?

I think forex.com is GMT +1


Quoting Ace284
I use to go with 2x, but now I find that 3x is more profitable.
Gary
  • #349
  • Jun 7, 2009 12:46pm Jun 7, 2009 12:46pm
Quoting alpine4133
Timing:
does any one know if Forex.com or FXDD uses the candle with the weekly mark, or is it one before or after or...which one?

I think forex.com is GMT +1
You seem like a very eager person, but I'm under the impression that you haven't read the thread because you're asking questions that have already been asked before. Do yourself a favor and be patient, I've already given the highs and lows of the previous two weeks. Do not send me a PM asking the same thing. If you don't see a candle with the high and low that i posted, then download the FXDD MT4 platform that I use.

By no means should you be trading this system live on the first week you've discovered it. Like I said before be patient and I'll post when the candle has formed like I did last week. This system performs once a week so there is no rush.
  • #350
  • Edited 5:41pm Jun 7, 2009 3:24pm | Edited 5:41pm
false alarm from pre market..
  • #351
  • Edited 7:45pm Jun 7, 2009 7:21pm | Edited 7:45pm
Great. Watching for you to post the 4 hr hi and low.
thanks for the note, yes I am a bit excited to try this.
Gary
  • #352
  • Jun 7, 2009 7:26pm Jun 7, 2009 7:26pm
Quoting Ace284
You seem like a very eager person, but I'm under the impression that you haven't read the thread because you're asking questions that have already been asked before. Do yourself a favor and be patient, I've already given the highs and lows of the previous two weeks. Do not send me a PM asking the same thing. If you don't see a candle with the high and low that i posted, then download the FXDD MT4 platform that I use.

By no means should you be trading this system live on the first week you've discovered it. Like I said before be patient and I'll...
Hi Ace.

Can you post your system with the latest modifications for everyone. In particular can you show todays details:

Current Hi Low of your first bar.
The box height that you use.
What exactly is the first entry point for long and short.
What is your TP1 TP2 etc. and how you arrived at them.

That would really help clear up some things that I am confused about.

Thanks

Dave R.
  • #353
  • Jun 7, 2009 7:37pm Jun 7, 2009 7:37pm
Quoting alpine4133
it is GMT 00:00 now. So I should be using the LAST 4 hour hi-low, or the one starting at 00:00?

Which one?
http://www.forexfactory.com/images/icons/icon9.gif

I think you have to wait till this 00gmt candle finish forming in the 4h chart.
  • #354
  • Jun 7, 2009 7:38pm Jun 7, 2009 7:38pm
I think we should wait until GMT +4 to get the first Weekly 4H High & Low. Pls comment

cheers



Quoting alpine4133
it is GMT 00:00 now. So I should be using the LAST 4 hour hi-low, or the one starting at 00:00?

Which one?
http://www.forexfactory.com/images/icons/icon9.gif
  • #355
  • Jun 7, 2009 7:51pm Jun 7, 2009 7:51pm
Why do you think this is best on JPY pairs?
Gary
  • #356
  • Jun 7, 2009 7:59pm Jun 7, 2009 7:59pm
Quoting droland
Hi Ace.

Can you post your system with the latest modifications for everyone. In particular can you show todays details:

Current Hi Low of your first bar.
The box height that you use.
What exactly is the first entry point for long and short.
What is your TP1 TP2 etc. and how you arrived at them.

That would really help clear up some things that I am confused about.

Thanks

Dave R.
Will do
  • #357
  • Jun 7, 2009 8:00pm Jun 7, 2009 8:00pm
It was my understanding that the first 4-hour bar of the week will be used starting at 00:00 GMT .... So from 00:00 GMT untill 04:00 GMT , is the first 4-hour bar ... Hi and Low from that point on to set take profits and stop losses ... so for me it will be from 8:00pm EST , untill 12 midnight EST, for my first 4-hour bar......
  • #358
  • Jun 7, 2009 8:11pm Jun 7, 2009 8:11pm
Quoting buffalopip
It was my understanding that the first 4-hour bar of the week will be used starting at 00:00 GMT .... So from 00:00 GMT untill 04:00 GMT , is the first 4-hour bar ... Hi and Low from that point on to set take profits and stop losses ... so for me it will be from 8:00pm EST , untill 12 midnight EST, for my first 4-hour bar......
I thought it was made clear that it is the bar that closes @ 9 EST. It just closed and I put in my order. Last week it worked out great, I hit all four targets. If I am wrong, someone in the know please correct me.

There is an amazing amount of confusion about this. Would it be right to say that we can just drqw out box around the four hourly bars that close at 6pm, 7pm, 8pm and 9pm? That way it just doesn't matter which broker you use.
Michael
  • #359
  • Edited 9:35pm Jun 7, 2009 8:20pm | Edited 9:35pm
Hope this helps
Attached Image (click to enlarge)
Click to Enlarge Name: june8.gif Size: 41 KB
  • #360
  • Jun 7, 2009 8:22pm Jun 7, 2009 8:22pm
I use a 4-hour bar on my chart , not 4-bars to make up four hours . And being that it is Sunday night the 4-hour bar will be carying over from friday close .... It is not a true 4-hour bar ... the only true 4-hour bar from GMT 00:00 open time is from 00:00 untill 04:00 .... that is the one i use now and have no problems with it ...
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