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Trendline Scalping 4hr timeframe

  • #1,001
  • Sep 7, 2010 3:46pm Sep 7, 2010 3:46pm
I'd be interested. I have one other trader doing this...and it's worked out well. No reason I can see for not posting the link on this thread.

BTW..interesting thread you have here.

Cheers
CanuckCT

Quoting david486
nice work steve!

hey guys i need to know who is interested in sms alerts. i found a site which will let me send them for free(but with adds) who is interested and am i allowed to post the link to the site on this forum?
  • #1,002
  • Sep 7, 2010 4:06pm Sep 7, 2010 4:06pm
Definitely interested in sms. Keep up the good work David... really appreciate this strategy.

Dejan
  • #1,003
  • Sep 7, 2010 4:31pm Sep 7, 2010 4:31pm
Just took second trade ..short on this pair. First trade was long for 50 pips although could have stayed in until the top of trendline channel was touched... which would been over 100 pips. As daily and weekly trend is down, this short trade should be "easier".
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  • #1,004
  • Sep 7, 2010 4:53pm Sep 7, 2010 4:53pm
Quoting lawgirl21
Just took second trade ..short on this pair. First trade was long for 50 pips although could have stayed in until the top of trendline channel was touched... which would been over 100 pips. As daily and weekly trend is down, this short trade should be "easier".
hello lawgirl21, why youre top line starts not at high of candle? Candle open now is only 2nd touch for me on fxdd.

ok, i see may be coz u trade channel u talk about.

Good nzdusd trade u had
  • #1,005
  • Sep 7, 2010 5:11pm Sep 7, 2010 5:11pm
Quoting driftwood
hello lawgirl21, why youre top line starts not at high of candle? Candle open now is only 2nd touch for me on fxdd.

ok, i see may be coz u trade channel u talk about.

Good nzdusd trade u had

Thanks DW...as I see it, trendlines, as with resistence and support levels, are not exact science..rather a range. I adjusted the diagional line, but it didn't change anything. Yes, I am channel trading, using this 3 touch system. I do not want to offend anyone and if I am "straying" from the thread, please just let me know and I will no longer post.
  • #1,006
  • Sep 7, 2010 5:28pm Sep 7, 2010 5:28pm
Quoting lawgirl21
Thanks DW...as I see it, trendlines, as with resistence and support levels, are not exact science..rather a range. I adjusted the diagional line, but it didn't change anything. Yes, I am channel trading, using this 3 touch system. I do not want to offend anyone and if I am "straying" from the thread, please just let me know and I will no longer post.
hello lawgirl21, sorry i don't mean any bad i just ask to get me better at this. Plz do not stop posting coz of my question coz all is good for all our learning imo. thx for youre reply.
  • #1,007
  • Sep 7, 2010 5:29pm Sep 7, 2010 5:29pm
Hi David

Thanks once again for showing us this simple but very effective method. I think we have an army of traders here who wish to be on your sms list (needless to say I am in also). Keep up the good work.

Kind regards
  • #1,008
  • Sep 7, 2010 5:34pm Sep 7, 2010 5:34pm
Hi David,

I have been away from the thread for a week or so. I too would be interested in SMS alerts if you sre still looking to intorduce them.

Regards, Indy
  • #1,009
  • Sep 7, 2010 5:44pm Sep 7, 2010 5:44pm
Quoting driftwood
hello lawgirl21, sorry i don't mean any bad i just ask to get me better at this. Plz do not stop posting coz of my question coz all is good for all our learning imo. thx for youre reply.
Oh, I didn't mean anything about your questions...I just don't want to add a new element to someone else's strategy. I am happy to answer anything that I can.
  • #1,010
  • Sep 7, 2010 6:54pm Sep 7, 2010 6:54pm
I just entered a short trade here. Daily and weekly trend is down, so I'm thinking this should be a winning trade. We'll see...
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  • #1,011
  • Sep 7, 2010 7:42pm Sep 7, 2010 7:42pm
Quoting D liberators
Took a USDCHF 4hr trade today and it paid off. I entered short at the opening of the candle after the bounce candle [highlighted with the yellow eclipse and labelled 3]. first chat

stop loss = the top of the bounce candle formation + 20pips[buffer]
TP1= the no of pips between the top of the bounce candle formation
and the opening candle

I then adjusted my trendline as necessary. as shown in the second chart..
Hello! Your point is, thank you for letting me inspiration and help! I hope you give us an updated view and help!
  • #1,012
  • Sep 8, 2010 2:57am Sep 8, 2010 2:57am
hello

jus recently added using trendlines to my trading strategy (used to be loyal to my 2EMAs that is consistently giving me good profit) but there are times when the trend starts a few candles (4 H) prior to the EMA crossing so i am trying to see what TL has got to do with it

quite interesting, i just started exploring it since last night

new journey and wish to learn from other's experience and lessons
  • #1,013
  • Sep 8, 2010 6:07am Sep 8, 2010 6:07am
hows everyones week, had a couple of bullish setups accross the pairs but nothing hit for the thrid line. would of been good if it did they all boomed.

as for sms alerts i will start adding the code to my server
  • #1,014
  • Sep 8, 2010 8:57am Sep 8, 2010 8:57am
How about this?
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  • #1,015
  • Sep 8, 2010 9:14am Sep 8, 2010 9:14am
Quoting lawgirl21
I just entered a short trade here. Daily and weekly trend is down, so I'm thinking this should be a winning trade. We'll see...
Stopped out. -50 pips.
  • #1,016
  • Sep 8, 2010 11:25am Sep 8, 2010 11:25am
i believe Dave uses the major trend lines. SOme of your charts look like secondary trend lines. i use them myself from time to time but i don't think you can expect his normal win ratio with these lines. that has been my experience. also, i use price action with these secondary lines....i don't just enter on the third tap...i need to see movement in my direction
  • #1,017
  • Sep 8, 2010 11:37am Sep 8, 2010 11:37am
Quoting cugir321
i believe Dave uses the major trend lines. SOme of your charts look like secondary trend lines. i use them myself from time to time but i don't think you can expect his normal win ratio with these lines. that has been my experience. also, i use price action with these secondary lines....i don't just enter on the third tap...i need to see movement in my direction

I agree, PA is my main "indicator" also. Not exactly sure what you mean by major trend lines, unless you mean overall trend direction which I look to daily and weekly PA to determine. But, with Dave's method, we are confined to looking at the current week's H4 bars, so that, to me, doesn't allow for "major trend lines", except as I said above, for overall direction.

Several of my charts and trades were clearly channel bounce trading and I tried to make it clear that my way of trading channels was not clearly Dave's and that I would not post if there was an objection to it...but a couple of the pairs were in beautiful channels over the past 3 days and I could not pass them up. Only one of my posted trades (mostly channel bounce trades) has been a loser and that is probably because I did not watch it.

Thanks for your response. I enjoy talking trading. I thought maybe this thread had died and that I was talking to myself.
  • #1,018
  • Sep 8, 2010 11:43am Sep 8, 2010 11:43am
Quoting lawgirl21
I just entered a short trade here. Daily and weekly trend is down, so I'm thinking this should be a winning trade. We'll see...
I just happened to land here by chance and saw this chart. I don't want to disturb the dialog, but I do have a quick question for you, lawgirl.

Was this particular trade based on anything other than the chart pattern, and the fact that the higher tfs were all pointing down?
  • #1,019
  • Sep 8, 2010 12:51pm Sep 8, 2010 12:51pm
Quoting lawgirl21
How about this?
Out with +26 pips.
  • #1,020
  • Sep 8, 2010 1:09pm Sep 8, 2010 1:09pm
Quoting mr.marketz
I just happened to land here by chance and saw this chart. I don't want to disturb the dialog, but I do have a quick question for you, lawgirl.

Was this particular trade based on anything other than the chart pattern, and the fact that the higher tfs were all pointing down?
Yes, and the fact that a beautiful channel had formed..trading channel bounces is one of my favorite ways to trade. I actually was more confident that this was a winning trade than any other of my recent trades...just goes to show what the market can do and how being too confident can back fire.
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