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Trendline Scalping 4hr timeframe

  • #881
  • Aug 27, 2010 8:30am Aug 27, 2010 8:30am
Hey all,

This thread was recommended by Steve Hopwood and I have to say that I am impressed.

Going to try this on demo next week. i just want to make sure I have the nn set up correctly.

Have there been any updates to it today as I have not seen anything? It does say "status connected" but just wanted to make sure.

Thanks in advance
  • #882
  • Aug 27, 2010 3:41pm Aug 27, 2010 3:41pm
Hi David,

thanks for the very simple method you have shown here... couple of questions if i may:

1. do you still have a skype chatroom? if yes could you add me please, my ID is grant18265..

2. do you have a break even move for you SL or do you go for TP or SL only

many thanks

Grant
  • #883
  • Aug 27, 2010 5:12pm Aug 27, 2010 5:12pm
I also came here after seeing the recommendation from Steve. I am very impressed and looking forward to demo testing this next week and live testing soon.

I will fire up the nn as soon as markets open!
  • #884
  • Aug 28, 2010 1:31pm Aug 28, 2010 1:31pm
Quoting david486
new usd/jpy trade check nn for details
HEY DAvid Thanks for the heads-up on the USDJPY I traded the bounce for 30 pis on Thursday and caught the breakout on friday. for 80 pips. I know you mostly trade just the bounce but works both ways . Thanks and have a good weekend. MR D. Always patient
Jesus my Lord
  • #885
  • Aug 29, 2010 3:38pm Aug 29, 2010 3:38pm
Quoting onward
Try the attached indi. Double click trendlines and move where ever you want including creating diagonal trendlines. Delete which ever one you don't need. An alert will sound when line is touched.

Regards
Michael
Onward thank you very much it looks like this will do the trick very sweet. I have it set on GJ 132.80 area im looking for a bounce...going to try it out this could be sweet no more hours in front of the charts maybe i can have someone add email alert to this which would be a nice add on...
  • #886
  • Aug 29, 2010 7:52pm Aug 29, 2010 7:52pm
Possible short on audjpy?

Signal coming on 4hr tf...looking for entry on 1hr
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aj 4hr.gif Size: 55 KB
Click to Enlarge Name: aj 1hr.gif Size: 53 KB
  • #887
  • Aug 29, 2010 9:42pm Aug 29, 2010 9:42pm
Thats not really a trendline, you've drawn horizontal resistance. Look at how fast price turned from the area, it doesn't look too strong, but you never know!

this method works well on a diagonal line - comments?
Tipster Trendlines - Trade from the chart
  • #888
  • Aug 29, 2010 9:55pm Aug 29, 2010 9:55pm
Quoting Ftafx
Possible short on audjpy?

Signal coming on 4hr tf...looking for entry on 1hr
Presently, the 1hr has closed above the TL, but still, the signal stays valid because price is not closed above the TL yet on the 4hr tf.

So I'm still watching this for possible short.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aj 1hr.gif Size: 53 KB
Click to Enlarge Name: aj 4hr.gif Size: 55 KB
  • #889
  • Aug 29, 2010 10:03pm Aug 29, 2010 10:03pm
Quoting Tipster
Thats not really a trendline, you've drawn horizontal resistance. Look at how fast price turned from the area, it doesn't look too strong, but you never know!

this method works well on a diagonal line - comments?
Do you mind teaching me what a real trendline is? The fact that i'm new to FF does not imply that i'm new to Fx trading..I've seen a lot of ego fueling on FF moreso by traders who should still be in the classroom studying the rudiments of fx trading....

Please lets learn to be humble and polite..you just might not know who is who on FF...its better to ask for explanation when you're not clear about anything posted rather than trying to prove you're a professor of Fx trading that knows all...

Ego tripping wont get you anywhere..it only shows your ignaorance....
  • #890
  • Aug 29, 2010 10:04pm Aug 29, 2010 10:04pm
Quoting Ftafx
Presently, the 1hr has closed above the TL, but still, the signal stays valid because price is not closed above the TL yet on the 4hr tf.

So I'm still watching this for possible short.
trades are only taken from euro start to new york finish and not 1 hour before or after news.
also trendlines with a gradual trend arent usually taken also trends that are drawn from the previous week are not taken. only trends formed within the week hence the reason why there are only trades generated around tuesday/wednesday
  • #891
  • Aug 29, 2010 11:16pm Aug 29, 2010 11:16pm
Quoting john19r
trades are only taken from euro start to new york finish and not 1 hour before or after news.
also trendlines with a gradual trend arent usually taken also trends that are drawn from the previous week are not taken. only trends formed within the week hence the reason why there are only trades generated around tuesday/wednesday

Thabks John, i'll note timing stated for the purpose of the thread........
  • #892
  • Aug 30, 2010 2:10am Aug 30, 2010 2:10am
Dave,

My nn shows a buy signal on the USDJPY that was apparently for last week - I have looked at that chart - trade looked to be successful, but nn not saying successful. why would that be the case? When does the nn clear out old trades.

Cheers Mate
Brent
(Posted this at about 7am GMT Aug 30) - junior member so it may take a while to show.
  • #893
  • Aug 30, 2010 2:37am Aug 30, 2010 2:37am
Quoting Ftafx
Possible short on audjpy?

Signal coming on 4hr tf...looking for entry on 1hr
took short on 4hrs and also UsdJpy......both gave 30 pips each.....

+60..good start for the week
  • #894
  • Aug 30, 2010 2:41am Aug 30, 2010 2:41am
Quoting john19r
trades are only taken from euro start to new york finish and not 1 hour before or after news.
also trendlines with a gradual trend arent usually taken also trends that are drawn from the previous week are not taken. only trends formed within the week hence the reason why there are only trades generated around tuesday/wednesday

Hi John
I didn't realize that. So you are only taking trades where the 1, 2 and 3 occur within the same week ? I have been banging my head against a wall with my charts as they use BST and not GMT. Some times it doesn't make a difference but others it is significantly different. IT Finance charts are quite extensively used apparently yet they start their charts one hour before the FX markets actually opens hence their 2 hour chart is actually one hour and their 4h chart is actually 3 hours and each candle then starts one hour before GMT charts. That is why there appears some confusion between some charts put up previously in the thread. I thought I would just add this bit for those that wondered why we can have different charts for what should be the same time frame.
I have no definative detail on what percentage of the market traders use GMT and what percentage use BST however it is simply ridiculous that all providers are not the same. Even if IT Finance charts are only used by 20% of the market it still means that 20% of the market are not seeing the same chart structure and making are therefore making different trading decisions.
Anyway, if you are only using the current week then it is easy to work the trendlines with the 1h t/f.
With regard to the comment that it isn't really a trendline. That comment is correct. It would be a stretch to take those points and call the price movement a trend however for the sake of this set up of Davids my question is does it matter?
Is it the 3 hits that are important or should it be a defined trend first?
I think overall everyone should be congratulated on their general good banter and support. It is unusual in any forum not to have ego come into play.
One little thing I have noted since following along. David likes taking the long on a GBP/JPY bounce. I am not sure with you guys but my provider has an 8 pip spread on that pair. EUR/JPY however has only a 3 pip spread and so far when GBP moves against tHe JPY so does the EUR with similar pips gained. FWIW.
  • #895
  • Aug 30, 2010 3:41am Aug 30, 2010 3:41am
Quoting john19r
trades are only taken from euro start to new york finish and not 1 hour before or after news.
also trendlines with a gradual trend arent usually taken also trends that are drawn from the previous week are not taken. only trends formed within the week hence the reason why there are only trades generated around tuesday/wednesday
Is your description in the original plan? Because I have followed from beginning.

Peace to all!
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #896
  • Aug 30, 2010 3:46am Aug 30, 2010 3:46am
Quoting Ftafx
took short on 4hrs and also UsdJpy......both gave 30 pips each.....

+60..good start for the week
You're doing great. I have been printing from aud/jpy and eur/jpy. Thanx for drawing my attention to them.
As for your trendlines, whether they're straight or crooked, it's knowledge that is at stake here. I have many of such TL on my charts and I love them because the print money
And my TLs are valid whether they're from last week or last month or yesterday.

Holla for peace!
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #897
  • Aug 30, 2010 3:54am Aug 30, 2010 3:54am
Quoting Precap2
Is your description in the original plan? Because I have followed from beginning.

Peace to all!
hello Precap, david do say all that john19r say but i look longer to some times I watching this EJ for now what u think?
Attached Image (click to enlarge)
Click to Enlarge Name: EJ.jpg Size: 105 KB
  • #898
  • Aug 30, 2010 5:17am Aug 30, 2010 5:17am
Hi Dave,

nn now shows that USDJPY trade as successful - has been updated.

Cheers Brent
  • #899
  • Aug 30, 2010 7:44am Aug 30, 2010 7:44am
I have nothing in status. What might I have missed in installing the nnclient?
Attached Image (click to enlarge)
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  • #900
  • Aug 30, 2010 7:52am Aug 30, 2010 7:52am
Quoting Grath
I have nothing in status. What might I have missed in installing the nnclient?
hello Grath did u clik on ok? Shows fri usd/jpy trade for me and YES successful.
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