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Odds are with a 4hr KISS

  • #141
  • Apr 9, 2010 11:19pm Apr 9, 2010 11:19pm
Hi 211, I missed the EU, but took the GU instead. The signal candle was the bullish pin as indicated in below chart, but too bad I was sleeping then. I waited until price retraced to around the 5ema two candles later and got my 50 pips the very next candle!
Attached Image (click to enlarge)
Click to Enlarge Name: gu_h4_20100409.jpg Size: 96 KB
  • #142
  • Apr 10, 2010 7:14am Apr 10, 2010 7:14am
Quoting fthingf
Hi 211, I missed the EU, but took the GU instead. The signal candle was the bullish pin as indicated in below chart, but too bad I was sleeping then. I waited until price retraced to around the 5ema two candles later and got my 50 pips the very next candle!
Great job fthingf! The GU chart wasn't quite as clear as the EU, so I'm glad you were able to spot it! Looks like you're doing good with this and thanks for posting the chart. I know this method won't be for everyone, but hopefully it helps some! Keep making those pips!
  • #143
  • Apr 13, 2010 8:12pm Apr 13, 2010 8:12pm
Long candidate
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-4h-14042010-0155.jpg Size: 86 KB
If you think you can or cannot do it you are correct
  • #144
  • Apr 14, 2010 5:43am Apr 14, 2010 5:43am
Quoting Olu
Long candidate

Nice looking chart. It does appear to be going long. Have to admit, I don't really look at the UJ too often and I'm not sure what the average daily range is...so not sure if you'd be going for 30 or 50pips as your target. If you trade this, keep us updated! But I really like the analysis you did on the chart!
  • #145
  • Apr 14, 2010 8:26am Apr 14, 2010 8:26am
Thanks Tw0Eleven for your comments.

What do you think about euroaud. The 123 principle is in place
Attached Image (click to enlarge)
Click to Enlarge Name: euroaud-4h.JPG Size: 64 KB
If you think you can or cannot do it you are correct
  • #146
  • Apr 14, 2010 12:20pm Apr 14, 2010 12:20pm
Quoting Olu
Thanks Tw0Eleven for your comments.

What do you think about euroaud. The 123 principle is in place
I have to say, I have never traded that pair and know nothing about it. Perhaps someone else viewing this may be able to comment?
  • #147
  • Apr 15, 2010 2:54am Apr 15, 2010 2:54am
Yeah, this is close to James 16 core system.

I am also using a similar system on H4 but with a few different settings.

Basically 10,25,150 & 365 EMA with the new version of MACD 12,26,9, just PA and S&R using the MA.

Actually, I recently came across a decent EMA crossover alert and also a NMACD with an alert. Saves you having to eyeball the chart too much.


Maybe some of you guys will find them useful.

You can turn the alerts off in both indicators.
Attached File(s)
File Type: mq4 MACD_ColorHist_AlertEMA.mq4   5 KB | 374 downloads
File Type: mq4 CrossedAlerts.mq4   2 KB | 325 downloads
Starting to see instead of just looking.
  • #148
  • Apr 15, 2010 5:39am Apr 15, 2010 5:39am
Quoting Olu
Thanks Tw0Eleven for your comments.

What do you think about euroaud. The 123 principle is in place
Just closed a +60pips trade
If you think you can or cannot do it you are correct
  • #149
  • Apr 15, 2010 5:47am Apr 15, 2010 5:47am
Quoting fthingf
Hi 211, I missed the EU, but took the GU instead. The signal candle was the bullish pin as indicated in below chart, but too bad I was sleeping then. I waited until price retraced to around the 5ema two candles later and got my 50 pips the very next candle!

Hi

What reason apart from the pullback to the 5EMA, favored you entering on that IB instead of the break of high of the Inside bar, which is the normal entry in J16?

The IB is generally a reversal signal although it occasionally acts as a trend continuation signal.

Thanks in advance
Starting to see instead of just looking.
  • #150
  • Apr 15, 2010 6:08am Apr 15, 2010 6:08am
Quoting Olu
Just closed a +60pips trade
Awesome! Great work Olu!
  • #151
  • Apr 15, 2010 6:09am Apr 15, 2010 6:09am
Quoting Rastaman
Yeah, this is close to James 16 core system.

I am also using a similar system on H4 but with a few different settings.

Basically 10,25,150 & 365 EMA with the new version of MACD 12,26,9, just PA and S&R using the MA.

Actually, I recently came across a decent EMA crossover alert and also a NMACD with an alert. Saves you having to eyeball the chart too much.


Maybe some of you guys will find them useful.

You can turn the alerts off in both indicators.
Thanks for posting the indicators Rastaman!
  • #152
  • Apr 15, 2010 6:12am Apr 15, 2010 6:12am
Quoting Rastaman
Hi

What reason apart from the pullback to the 5EMA, favored you entering on that IB instead of the break of high of the Inside bar, which is the normal entry in J16?

The IB is generally a reversal signal although it occasionally acts as a trend continuation signal.

Thanks in advance
I think there are 2 things here: 1) this method doesn't deal with trading Inside Bars...personally, I don't find them consistant enough to trade. 2) I would much prefer entering at/near the Moving Averages instead of waiting for price to break the high/low of candles....in my humble opinion(and with this method) it greatly reduces your risk on a trade.

Hope that helps!
  • #153
  • Apr 15, 2010 6:20am Apr 15, 2010 6:20am
Quoting Tw0eleven
I think there are 2 things here: 1) this method doesn't deal with trading Inside Bars...personally, I don't find them consistant enough to trade. 2) I would much prefer entering at/near the Moving Averages instead of waiting for price to break the high/low of candles....in my humble opinion(and with this method) it greatly reduces your risk on a trade.

Hope that helps!

Hi & Thanks for the reply.
I recently returned from the J16 private forum so I am interested in these H4 systems.

Ok, I get you on the IB thingy. I also am not a great fan of IB unless they are IB4 bars or higher.



I am just viewing your thread and trying to work out what MACD settings you are using.

In some screenshots you are using 12, 26,9 but in others you are using 24,52,18. What are the reasons for changing the settings and what settings are you currently using.?

Thanks in advance.
Attached Image (click to enlarge)
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Starting to see instead of just looking.
  • #154
  • Apr 15, 2010 6:47am Apr 15, 2010 6:47am
Quoting Rastaman
Hi & Thanks for the reply.
I recently returned from the J16 private forum so I am interested in these H4 systems.

Ok, I get you on the IB thingy. I also am not a great fan of IB unless they are IB4 bars or higher.



I am just viewing your thread and trying to work out what MACD settings you are using.

In some screenshots you are using 12, 26,9 but in others you are using 24,52,18. What are the reasons for changing the settings and what settings are you currently using.?

Thanks in advance.
Well, I must say I'm impressed. You are the first person to notice this...I was wondering how long I could get away with having different macd settings before somone would catch it! Now the secret is out. hehe

I think you can use the standard settings 12, 26, 9 and be just fine. I have been using the other settings lately because they seem to smooth out the histogram and it makes it visually easier for me to see where the momentum is heading. Basically, they are 8hr chart settings...I just doubled the standard 4hr settings since MT4 doesn't have an 8hr chart.

The main point about using macd imho is that you make sure you are trading with the momentum of the market. So if the histogram is heading up, momentum(prices) are going up...and vice versa for shorts!

Happy Trading!
  • #155
  • Apr 15, 2010 7:11am Apr 15, 2010 7:11am
Quoting Tw0eleven
Well, I must say I'm impressed....

Right, I get you now.

I was wondering if you were just using it to show that example of when not to enter a trade.

Thanks for your time.

I agree, PA is the main stem of trading that is profitable.

I presume you are using PPZ as in J16 for S&R?


Have you ever been a member of the J16 private group?


Take care & Great job you are doing here to help new people.

As they say, Sharing is caring.
Starting to see instead of just looking.
  • #156
  • Edited 7:26am Apr 15, 2010 7:20am | Edited 7:26am
Quoting Rastaman
Right, I get you now.

I was wondering if you were just using it to show that example of when not to enter a trade.

Thanks for your time.

I agree, PA is the main stem of trading that is profitable.

I presume you are using PPZ as in J16 for S&R?


Have you ever been a member of the J16 private group?


Take care & Great job you are doing here to help new people.

As they say, Sharing is caring.
I think I have read some of the J16 thread...but it's been so long I'd actually need to go back and see if I have/haven't. But it does sound familiar. And I haven't been a member either.

What is PPZ? I'm assuming it's Pivot Points? I don't use them...I use to early in my trading career but to be honest...I could never tell when price would stop at R1, R2, R3, S1, S2, S3. It's like some days price would only go to R1 or S1 and other days big moves to S3 or R3...but I couldn't ever tell which one, so I stopped using them and have decided just to take what the market gives me based on Average Daily Ranges.

P.S. Just went and looked at the J16 thread...I do remember looking it over, but I never really followed it. There's good stuff on there, just didn't fit what I was looking for in trading. Another thread I use to follow and tried trading was by Phillip Nel and both his 4hr and 5min methods.
  • #157
  • Edited 8:24am Apr 15, 2010 8:24am | Edited 8:24am
A little retracement and this might be a good sell
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If you think you can or cannot do it you are correct
  • #158
  • Apr 15, 2010 8:50am Apr 15, 2010 8:50am
Yes, PPZ are S&R but a little different than the regular floor pivots.
They are drawn as no doubt you have seen previously, at areas where price has flipped. Basically it is support that has changed to resistance and visa vi.

However, I do not like to draw PPZ all over the place and it can be time consuming. I sometimes use a round number indicator but on H4, you can generally tell where a price action candle is going to stall by the highs and lows nearby.

Something I am currently working on is this.

Find a D1 successful Pin Bar or outside bar etc and put a line on the tail and the nose, then change down to H4 and you can find many successful price action bars around those areas. They seem to repeat and so they should as a PB is basically bouncing off resistance and hitting support which either holds or breaks. Try it out.

What an interesting time frame H4 is, is it not?
Hopefully I can learn alongside you guys.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: d1.gif Size: 29 KB
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Starting to see instead of just looking.
  • #159
  • Apr 15, 2010 9:03am Apr 15, 2010 9:03am
I am sure everyone knows there is nothing mysterious about pin bars.

They are simply a Head and shoulders pattern if you move down a time frame.

like this one on D1, on H4 it is a reverse Head and shoulders.



I only mention this as I myself did not know what they were till I studied at J16.
Actually, this is quite important if you think about it.

That D1 PB was not very successful and the reason is, if you go down to H4 you see it is a R H&S which is a bullish signal, but this one is in an uptrend, we want to see a Head & Shoulders at a high not a Reverse head 7 shoulders. So, we can check a PB out like that also.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dpb.gif Size: 21 KB
Click to Enlarge Name: h4 rh&s.gif Size: 20 KB
Starting to see instead of just looking.
  • #160
  • Apr 15, 2010 9:34am Apr 15, 2010 9:34am
Quoting Olu
A little retracement and this might be a good sell

Good eye, same thing setting up on EJ chart too.
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