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Trendline Scalping 4hr timeframe

  • #181
  • Jul 16, 2010 8:25am Jul 16, 2010 8:25am
Quoting david486
nice dlib.

here is my gbp/jpy 4hr tl trade.

its a long on the hit of this trend. usual tp and sl of 50pips

good luck all, will be looking for a short setup aswell
David et al,

Price, on the 3rd touch, actually broke through the TL by about 39 pips. Did this overshoot invalidate the setup?

Currently, price is moving back towards the TL, and has almost reached it. Do we ignore the original setup and draw a new TL based on the new lowest low?

Thanks,
BC
  • #182
  • Jul 16, 2010 9:53am Jul 16, 2010 9:53am
Quoting Bobcat2
David et al,

Price, on the 3rd touch, actually broke through the TL by about 39 pips. Did this overshoot invalidate the setup?

Currently, price is moving back towards the TL, and has almost reached it. Do we ignore the original setup and draw a new TL based on the new lowest low?

Thanks,
BC
yeah, i also follow this GJ opportunity, and now already broke the TL also hit stop loss 50 point.. not a good one.. am i right david?
  • #183
  • Jul 16, 2010 2:15pm Jul 16, 2010 2:15pm
guys yes, sl hit for me. all is good only first loss for the month. i was not on computers screen while trade happened.

cant win them all

hehe. but like i said 1st loss for the month so i say not bad at all was bound to happen soon.

hope all made this week i am up some 50+on gy and 60+ or so on other pairs(well have to calculate as i dropped my lot size on non gy pairs)

have a great weekend all. start of next week should have the neural up + skype chat.
  • #184
  • Jul 17, 2010 10:22am Jul 17, 2010 10:22am
David thanks for this system. I've been reading and watching it here while testing it. Most of my questions have been asked by others so far. I just wanted to let you know that I appreciate you sharing it and also thanks to everyone else for sharing their trading and charts. It's all so very informative.
It's very good to see others who are willing to share a good system without wanting to sell it.
  • #185
  • Jul 17, 2010 7:59pm Jul 17, 2010 7:59pm
Quoting TNfxtrader
David thanks for this system. I've been reading and watching it here while testing it. Most of my questions have been asked by others so far. I just wanted to let you know that I appreciate you sharing it and also thanks to everyone else for sharing their trading and charts. It's all so very informative.
It's very good to see others who are willing to share a good system without wanting to sell it.
i agree with you tnfxtrader. i have never seen such success in forex, lol i fall in the classic 95% of retail losers.. since i have been reading this thread there's been a complete reversal with my account. i think 80-90% accuracy is damn good and thats what i have seen.
So thank you David and D lib and all those who shared their charts. Look forward to trading this week.
  • #186
  • Jul 17, 2010 8:07pm Jul 17, 2010 8:07pm
Hey there David,

I just looked at your thread for the first time and noticed your neural net effort. I'm experimenting with NN myself so I'll subscribe and have a look when you post it. BTW I'm a C++ programmer myself for my day j.o.b.
You are in a maze of twisty little passages, all alike.
  • #187
  • Jul 17, 2010 11:57pm Jul 17, 2010 11:57pm
Quoting john19r
i agree with you tnfxtrader. i have never seen such success in forex, lol i fall in the classic 95% of retail losers.. since i have been reading this thread there's been a complete reversal with my account. i think 80-90% accuracy is damn good and thats what i have seen.
So thank you David and D lib and all those who shared their charts. Look forward to trading this week.
Yes, i also agree.. really thank you especially for david who starts the thread to share also d lib who give a lot contribute..
waiting for a new week start to practice, practice and practice....:nerd:
  • #188
  • Jul 18, 2010 1:54pm Jul 18, 2010 1:54pm
Hi, this is my first message. First , my english is very poor , sorry ...
I´m following this method and i´m very interested .
Thankyou very much all the people that are working in this method.
I´ve a picture of EURJPY, in this moment, should I open a buy with take prfit + 50 pips and stop loss -50 pips ?
Thanks.


http://img832.imageshack.us/img832/417/entry1.gif
  • #189
  • Jul 18, 2010 3:02pm Jul 18, 2010 3:02pm
And here another for open a short in USDCHF ?

http://img842.imageshack.us/img842/417/entry1.gif
  • #190
  • Jul 18, 2010 5:11pm Jul 18, 2010 5:11pm
Quoting arkan1976
And here another for open a short in USDCHF ?

http://img842.imageshack.us/img842/417/entry1.gif
Hello people..Thank God for a new week..Its another opportunity to unleash this proven strategy and make moey..lol

Will try and post potential trades before the next 4hr elapse..
God's Love For You Is Sure Never You Doubt It
  • #191
  • Edited 3:02am Jul 19, 2010 12:21am | Edited 3:02am
Quoting D liberators
Though i cant see it very well.. looks ok to me [thats the ideal TL..having the full ABCD leg. The TL used in this strategy is not necessarily the textbook TL..some cases you are actually anticipating the CD leg...

You may want to go thru the little note i wrote on how to effectively/correctly draw an ideal TL. And when we eventually get the chart/trading room going, you can be sure of getting a step by step walk thru on how to draw a TL.
Thanks for your doc, D'liberators! It's very helpful! :-)

I thought I had an ABCD indy on my pc before, but I can't locate it. I did find this indy for trendlines. I hope it helps! For those experienced TL users/drawers, please let me know if this will suffice for drawing TL's.
Attached File(s)
File Type: mq4 Trendlines_Lnx_v1.mq4   12 KB | 593 downloads
  • #192
  • Jul 19, 2010 4:13am Jul 19, 2010 4:13am
EURGBP setting up 4hr tf
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp 4hr.gif Size: 62 KB
God's Love For You Is Sure Never You Doubt It
  • #193
  • Jul 19, 2010 4:19am Jul 19, 2010 4:19am
50pip target
50pip stop

by the time you allow for costs this is less than 1:1, could you explain what you are basing this on please.

Cheers

Sharpster
  • #194
  • Jul 19, 2010 4:30am Jul 19, 2010 4:30am
Quoting sharpster
50pip target
50pip stop

by the time you allow for costs this is less than 1:1, could you explain what you are basing this on please.

Cheers

Sharpster
its the most accurate tp and sl for this pair. you can factor in the spread if you like to make it 1:1 i just like a round number
  • #195
  • Jul 19, 2010 4:31am Jul 19, 2010 4:31am
Quoting arkan1976
And here another for open a short in USDCHF ?

http://img842.imageshack.us/img842/417/entry1.gif
this trade is off the 3rd bounce. a short sell. for this pair i would use a 20-30pip tp and sl. as you can see you would of won this trade
  • #196
  • Jul 19, 2010 4:48am Jul 19, 2010 4:48am
Quoting david486
its the most accurate tp and sl for this pair. you can factor in the spread if you like to make it 1:1 i just like a round number

Cheers david, thanks for the reply.

Regards

Sharpster
  • #197
  • Jul 19, 2010 5:35am Jul 19, 2010 5:35am
GBPJPY daily tf....hope to catch this at close of day..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy daily.gif Size: 64 KB
God's Love For You Is Sure Never You Doubt It
  • #198
  • Jul 19, 2010 8:20am Jul 19, 2010 8:20am
Quoting D liberators
GBPJPY daily tf....hope to catch this at close of day..
Hi, if the candle close positive, should open a buy ?
what would be the benefit ?

thanks.
  • #199
  • Jul 19, 2010 9:28am Jul 19, 2010 9:28am
dont understand what you mean by positive..
Quoting arkan1976
Hi, if the candle close positive, should open a buy ?
what would be the benefit ?

thanks.
God's Love For You Is Sure Never You Doubt It
  • #200
  • Jul 19, 2010 12:15pm Jul 19, 2010 12:15pm
Quoting D liberators
dont understand what you mean by positive..
Sorry, I want to say that this candle close up bar ...
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