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Trendline Scalping 4hr timeframe

  • #81
  • Jul 13, 2010 4:19am Jul 13, 2010 4:19am
what about this ? shall we wait for a red candle on H1 ?
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  • #82
  • Jul 13, 2010 4:23am Jul 13, 2010 4:23am
Quoting D liberators
I would prefer a bullish candle to bounce off the TL and not a bearish candle regardless of it closing above the TL or not
ok, got it. so if the next candle CLOSES as bullish candle, then enter long ?
  • #83
  • Jul 13, 2010 4:25am Jul 13, 2010 4:25am
Quoting D liberators
Likely trades.....UsdSgd short 4hr tf

I'm short on this
i am afraid of the spread in USDSGD.

its going down pretty hard
  • #84
  • Jul 13, 2010 4:29am Jul 13, 2010 4:29am
yes i am.. If your candle closes as a bullish candle, its good to take the risk

Quoting roundrock
anyone watching this ?
God's Love For You Is Sure Never You Doubt It
  • #85
  • Jul 13, 2010 4:34am Jul 13, 2010 4:34am
From your chart, can see there's been a 3rd leg on that gradient before and if you'd taken the trade would av been profitable..

What i'm having on my chart is diffrent (FxPro)..still watching the pair for a signal

Quoting roundrock
what about this ? shall we wait for a red candle on H1 ?
God's Love For You Is Sure Never You Doubt It
  • #86
  • Jul 13, 2010 4:39am Jul 13, 2010 4:39am
roundrock good spotting d lib is right!!


guys let me know how your usd/sdg trade goes i dont have this pair..
  • #87
  • Jul 13, 2010 4:43am Jul 13, 2010 4:43am
guys i also have a bit of dilemma. i want to post the exact levels to trade at on a scalp gradient(within the neuralnet client) though i cant give a specific rate as when the price hits the gradient again there is no specific rate.. what i can do is tell you exactly where the first two legs are. I am thinking of also adding other fx pairs
please let me know your ideas as i will be releasing the first version shortly and i wish to incorporate everything..
  • #88
  • Jul 13, 2010 5:16am Jul 13, 2010 5:16am
Hi all

I am sure many of you are probably aware of this one.....but just in case, this one is looking as a potential set up.

Cheers
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What you do is a reflection of you....what I do is a reflection of me.
  • #89
  • Jul 13, 2010 5:17am Jul 13, 2010 5:17am
Great thread.

Watching: ACAD 4hr, GU 4hr.
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  • #90
  • Jul 13, 2010 5:25am Jul 13, 2010 5:25am
Quoting Four Kids
Great thread.

Watching: ACAD 4hr, GU 4hr.
aud/cad looks like its expired(second last candle already bounced) would of been successful by the looks of it.

gu looks valid.

good work. your getting the hang of it!
  • #91
  • Jul 13, 2010 5:43am Jul 13, 2010 5:43am
Hi David, I don't understand your last post. On ACad I am waiting for the current 4hr candle to close. If it is a bull candle, then I will enter long. The second to last candle was a bear candle and only bounced about 7 or 8 pips.

Don't we wait for candle close before entering a trade?
  • #92
  • Jul 13, 2010 5:48am Jul 13, 2010 5:48am
Quoting Four Kids
Hi David, I don't understand your last post. On ACad I am waiting for the current 4hr candle to close. If it is a bull candle, then I will enter long. The second to last candle was a bear candle and only bounced about 7 or 8 pips.

Don't we wait for candle close before entering a trade?
hey fourkids and thanks for your post.

on my charts it shows a direct price bounce of the trendline as it does with yours. i dont wait for any particular candle to form on the third bounce to make a purchase decision i just enter(except if there is pending news coming out).

however this doesnt mean you shouldnt, if that makes you more comfortable then by all means...
  • #93
  • Jul 13, 2010 5:54am Jul 13, 2010 5:54am
Quoting david486
hey fourkids and thanks for your post.

on my charts it shows a direct price bounce of the trendline as it does with yours. i dont wait for any particular candle to form on the third bounce to make a purchase decision i just enter(except if there is pending news coming out).

however this doesnt mean you shouldnt, if that makes you more comfortable then by all means...
Ok Thanks. Does that mean the second to last candle which bounced for a few pips was the 3rd bounce and now the set up is invalid?
  • #94
  • Jul 13, 2010 6:03am Jul 13, 2010 6:03am
hey, Four Kids, coincidentally, I was also looking at these two pairs, here are my charts

GU, I am looking into TP of 1.5200. currently, set stoploss to BE
AC, still with uptrend, TP might be 0.9100

just a different view for discussion. TL is very difficult to trade with, but, it seems one of the most useful tool, according to Al Brooks (I am currently reading his book, very interesting). however, still trying hard to find a solution to use it effectively

jeurre


Quoting Four Kids
Great thread.

Watching: ACAD 4hr, GU 4hr.
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Click to Enlarge Name: ac.gif Size: 19 KB
  • #95
  • Jul 13, 2010 6:44am Jul 13, 2010 6:44am
Quoting jeurre
hey, Four Kids, coincidentally, I was also looking at these two pairs, here are my charts

GU, I am looking into TP of 1.5200. currently, set stoploss to BE
AC, still with uptrend, TP might be 0.9100

just a different view for discussion. TL is very difficult to trade with, but, it seems one of the most useful tool, according to Al Brooks (I am currently reading his book, very interesting). however, still trying hard to find a solution to use it effectively

jeurre
according to the rules from the beginning these charts look like they would of won according to the 3 bounce rules, well the second anyway not sure what the first chart represents
  • #96
  • Jul 13, 2010 7:03am Jul 13, 2010 7:03am
On the contrary, TL remains one of the easiest tools to trade with, all you need is to know how to draw a valid TL and get used to it...

I've seen a lot of wrongly drawn TL [even in this thread] and more often than not, you get your fingers burnt when you draw TL wrongly...

I'm yet to have a loosing trade on my TL based strategies for this month... You can get a simple, easy to follow write up on how to draw an effective TL on page 2 or there about of this thread.....

Happy Pipping

Quoting jeurre
hey, Four Kids, coincidentally, I was also looking at these two pairs, here are my charts

GU, I am looking into TP of 1.5200. currently, set stoploss to BE
AC, still with uptrend, TP might be 0.9100

just a different view for discussion. TL is very difficult to trade with, but, it seems one of the most useful tool, according to Al Brooks (I am currently reading his book, very interesting). however, still trying hard to find a solution to use it effectively

jeurre
God's Love For You Is Sure Never You Doubt It
  • #97
  • Jul 13, 2010 7:12am Jul 13, 2010 7:12am
Quoting D liberators
On the contrary, TL remains one of the easiest tools to trade with, all you need is to know how to draw a valid TL and get used to it...

I've seen a lot of wrongly drawn TL [even in this thread] and more often than not, you get your fingers burnt when you draw TL wrongly...

I'm yet to have a loosing trade on my TL based strategies for this month... You can get a simple, easy to follow write up on how to draw an effective TL on page 2 or there about of this thread.....

Happy Pipping
just about to reply then i sore your post. i couldnt of summed it up better.
Agreed on all points.
  • #98
  • Jul 13, 2010 7:14am Jul 13, 2010 7:14am
Quoting david486
hey fourkids and thanks for your post.

on my charts it shows a direct price bounce of the trendline as it does with yours. i dont wait for any particular candle to form on the third bounce to make a purchase decision i just enter(except if there is pending news coming out).

however this doesnt mean you shouldnt, if that makes you more comfortable then by all means...
Hello david486, do I think right that you are not awaiting third touch/bounce candle to be closed before enter? thx
  • #99
  • Jul 13, 2010 8:00am Jul 13, 2010 8:00am
Quoting driftwood
Hello david486, do I think right that you are not awaiting third touch/bounce candle to be closed before enter? thx
you are correct, others do wait for the closure i dont. doesnt mean its wrong basically whatever works for you. i used to miss a few trades when waiting for the closure candle. The Closure candle is also a good way to enter.

**update neural GUI**

ok so this i what i have configured so far.
listbox view with trend line setups, per entry there is also a checkbox where if checked alongside autotrade(while setup properly) it will execute the trade automatically.. This is for my neural app for those who are new. The source code will be upp'd aswell, im not going to lie its very messy but it will work 100%
  • #100
  • Jul 13, 2010 8:08am Jul 13, 2010 8:08am
Thanks, D , I am glad to know trading TL can be easy

jeurre

Quoting D liberators
On the contrary, TL remains one of the easiest tools to trade with, all you need is to know how to draw a valid TL and get used to it...

I've seen a lot of wrongly drawn TL [even in this thread] and more often than not, you get your fingers burnt when you draw TL wrongly...

I'm yet to have a loosing trade on my TL based strategies for this month... You can get a simple, easy to follow write up on how to draw an effective TL on page 2 or there about of this thread.....

Happy Pipping
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