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Trendline Scalping 4hr timeframe

  • #41
  • Jul 12, 2010 3:21am Jul 12, 2010 3:21am
Quoting D liberators
112.127 [ALPARIUK]; 112.096[FxPro]
thanks D liberators

for daily TF, wou keep same 50/50 SL/TP ? I think we would need a higher value
  • #42
  • Jul 12, 2010 3:26am Jul 12, 2010 3:26am
Quoting john19r
lots of opportunities indeed.

This method is the prime method which made me successful in forex..
wish everyone else the same success!
yes you are correct, its a very good system by itself. if we add confluence then it becomes more powerful.

there are several flavors of the same system.

1. on 3rd occurance, i immediately place a order in the direction of rebounce.

2. on 4th and higher occurance, i wait for the current bar to close in our direction and i place a limit order at close +5 buffer, with stop as bar low + buffer and tp as recent swing high/low - buffer

3. on 3rd or higher occurance if TL is broken, then i wait for a retrace to 50% of bar and place order away from TL. that means if TL is broken from top to botom, then SHORT.
  • #43
  • Jul 12, 2010 3:43am Jul 12, 2010 3:43am
Nop i dont use 50/50 SL/TP as dave, does...i calculate my TP1 and SL differently[posted how on page 1 i think]...some use fib ratios.

Actually i trade price/fib patterns and i calculate my tp based on resistance/support levels, fib extension, and sometimes just 'guts'

Quoting roundrock
thanks D liberators

for daily TF, wou keep same 50/50 SL/TP ? I think we would need a higher value
God's Love For You Is Sure Never You Doubt It
  • #44
  • Jul 12, 2010 4:20am Jul 12, 2010 4:20am
Target hit on EurJpy.. The pair still has more room to move down..but on this strategy am out because this is a high probability trade, i risk so much of my equity [wont say how much] and scale out quickly..56pips isnt bad to start the week with, especially when you are more than 5% up on your account..lol

Next pair am watching is EurChf short..will post chart later..
God's Love For You Is Sure Never You Doubt It
  • #45
  • Jul 12, 2010 5:00am Jul 12, 2010 5:00am
Quoting D liberators
Target hit on EurJpy.. The pair still has more room to move down..but on this strategy am out because this is a high probability trade, i risk so much of my equity [wont say how much] and scale out quickly..56pips isnt bad to start the week with, especially when you are more than 5% up on your account..lol

Next pair am watching is EurChf short..will post chart later..
EURCHF is on D1 or H4 ?
  • #46
  • Jul 12, 2010 5:06am Jul 12, 2010 5:06am
Quoting roundrock
EURCHF is on D1 or H4 ?
Hi Roundrock

I think 4H, zoom out and have a look at the trend line from 21st May 2010.

By the way Dliberators, I like the simplicity and high probability of this system. Thanks for sharing mate.

Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #47
  • Jul 12, 2010 5:32am Jul 12, 2010 5:32am
thanks Ezzy, drawing TL is an art i guess. sometimes we dont know how far we need to go back
  • #48
  • Jul 12, 2010 5:47am Jul 12, 2010 5:47am
Quoting roundrock
thanks Ezzy, drawing TL is an art i guess. sometimes we dont know how far we need to go back

No probs roundrock.....I've been there too.

Cheers mate.
What you do is a reflection of you....what I do is a reflection of me.
  • #49
  • Jul 12, 2010 5:49am Jul 12, 2010 5:49am
drawing trendlines is kind of like an artwork. i hope to have some new screeens uploaded soon along with my code.. I spent hours each day watching the market for an entire year(6-8hrs a day) which enabled me to spot this. This is how i developed this method..

so yeh its kind of an artwork but an easy artwork
  • #50
  • Jul 12, 2010 5:54am Jul 12, 2010 5:54am
4HR..HERE'S THE CHART

Quoting roundrock
EURCHF is on D1 or H4 ?
Attached Image (click to enlarge)
Click to Enlarge Name: echf 4hr tl bounce.gif Size: 58 KB
God's Love For You Is Sure Never You Doubt It
  • #51
  • Jul 12, 2010 5:58am Jul 12, 2010 5:58am
David owns the credit buddy..He started the thread, i'm just contributing to it and will like to expose more of what the big boys do but only in a live trading room...still wating for what you guys got to say about the room..

Quoting Ezzy
Hi Roundrock

I think 4H, zoom out and have a look at the trend line from 21st May 2010.

By the way Dliberators, I like the simplicity and high probability of this system. Thanks for sharing mate.

Ezzy
God's Love For You Is Sure Never You Doubt It
  • #52
  • Jul 12, 2010 6:03am Jul 12, 2010 6:03am
Quoting D liberators
David owns the credit buddy..He started the thread, i'm just contributing to it and will like to expose more of what the big boys do but only in a live trading room...still wating for what you guys got to say about the room..
My apologies.......thanks David for sharing. Thanks DLib for your contribution.

Regarding a trading room, I will be interested. Chat room would be good, I've neved used skype but am willing to give it a go.
What you do is a reflection of you....what I do is a reflection of me.
  • #53
  • Jul 12, 2010 6:11am Jul 12, 2010 6:11am
I am currently demoing.

Just wondering what people thought of this set up.
Attached Image (click to enlarge)
Click to Enlarge Name: xagusd.gif Size: 16 KB
What you do is a reflection of you....what I do is a reflection of me.
  • #54
  • Jul 12, 2010 6:16am Jul 12, 2010 6:16am
Hi Dave and the guys out there.I want to say a word of appreciation to David for this simple and efficient system.The catch is in its simplicity.
Regarding the trading room or chat room,I think chat room is simpler.All everybody needs is a Skype ID.
To all following,I say,have a pips filled week
  • #55
  • Jul 12, 2010 6:49am Jul 12, 2010 6:49am
thats the way to go buddy..your set up looks perfect to me...though i would have waited for the last candle to close and show a bullish bounce off the TL..am usually careful when i see a bearish candle in a long set up..this is an aggressive approach you have though and will give more pips than my approach..but also more dangerous..lol

I'm attaching a link to where you can access a little write up i did on How to draw trendlines...hope this will be of help to someone out there

http://www.forexfactory.com/showpost...&postcount=804

Quoting Ezzy
I am currently demoing.

Just wondering what people thought of this set up.
God's Love For You Is Sure Never You Doubt It
  • #56
  • Jul 12, 2010 6:54am Jul 12, 2010 6:54am
ezzy, yes that is correct, if you bought of the third bounce it would of been successful. check out my chart its different, but same result. i.e a win!!
Attached Image (click to enlarge)
Click to Enlarge Name: xag.jpg Size: 73 KB
  • #57
  • Jul 12, 2010 7:17am Jul 12, 2010 7:17am
you're the man

For those who trade 1hr tf..here's an upcoming signal if we see a bullish bounce off this tl..

Quoting david486
ezzy, yes that is correct, if you bought of the third bounce it would of been successful. check out my chart its different, but same result. i.e a win!!
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp1hr.gif Size: 58 KB
God's Love For You Is Sure Never You Doubt It
  • #58
  • Jul 12, 2010 7:41am Jul 12, 2010 7:41am
Quoting D liberators
you're the man

For those who trade 1hr tf..here's an upcoming signal if we see a bullish bounce off this tl..
do you wait for this candle to close as green before you enter ? or wait for next candle to close above TL to enter ? or you will enter on touching TL without a confirmation ?
  • #59
  • Jul 12, 2010 7:54am Jul 12, 2010 7:54am
i tend to stay out of the lower time-frames.. hope for all the best buddy..
  • #60
  • Jul 12, 2010 8:21am Jul 12, 2010 8:21am
I actually dont trade 1hr with this system, just posted this for those who do...i do wait for candle to close before taking trades... a candle's story is not complete until it closes..using this as an example, i'll prefer to wait for the candle to close as bullish candle off the TL...and that did not happen.. so no trade and price proved us right.

Quoting roundrock
do you wait for this candle to close as green before you enter ? or wait for next candle to close above TL to enter ? or you will enter on touching TL without a confirmation ?
God's Love For You Is Sure Never You Doubt It
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