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Trendline Scalping 4hr timeframe

  • #1,061
  • Sep 12, 2010 10:30am Sep 12, 2010 10:30am
I followed this thread for a few days until it got taken over.
It looked like a viable method.
It looks like the take over artist has moved on. I'll start looking at it again.
  • #1,062
  • Sep 12, 2010 3:27pm Sep 12, 2010 3:27pm
Hi just read this thread over the weekend, interesting, gonna demo it on oanda this week, going to incorporate a multi lot system i use as well, will post results,

good stuff!!!
  • #1,063
  • Edited 6:21pm Sep 12, 2010 5:55pm | Edited 6:21pm
That's exactly what I was talking about with the stuff I mentioned. I'm looking at one right now. It's deadly!!!

I added it to your chart and both your lines are dead on!!!

Quoting lawgirl21
Are we missing good trades by not analysing what I call bridge candles and PA. Take a look at these wonderful trades the past 2 weeks on GJ alone. First for almost 500 pips, second for over 200.
  • #1,064
  • Sep 12, 2010 6:14pm Sep 12, 2010 6:14pm
Quoting lawgirl21
Are we missing good trades by not analysing what I call bridge candles and PA. Take a look at these wonderful trades the past 2 weeks on GJ alone. First for almost 500 pips, second for over 200.
The first "bridge" is not a trendline but an arbitrary upper channel line which you shorted off the bounce. The second "bridge" makes more sense since it's more of a legit trendline.
  • #1,065
  • Sep 12, 2010 6:14pm Sep 12, 2010 6:14pm
Quoting david486
excellent work steve, i appreciate the feedback + the fact you are successful with my method. great to see. are you using your ea for the entries or manually entering?
I am using the ea's I posted here to make the entries. There is also the auto-trader, but this is still experimental and going nowhere near my live account.

I draw the trendline once I can identify a reasonable pair of legs (sounds kinky ). Then I set the appropriate David 4H Trendline Buy/Sell EA and leave it to do its thing. This way, I do not have to monitor the charts in order to pull the trigger.

Mind, the ea's pay no attention to other factors that might affect my decision to take a trade. All they do is pull the trigger on the third touch/pierce of the appropriate trendline. Thus they may not suit everybody.

They save me a shed-load of chart-watching.

  • #1,066
  • Sep 12, 2010 6:41pm Sep 12, 2010 6:41pm
Quoting glc3344
The first "bridge" is not a trendline but an arbitrary upper channel line which you shorted off the bounce. The second "bridge" makes more sense since it's more of a legit trendline.

Nothing arbitrary about it, as I see it. I just did not extend too far back into the week when drawing my TL, as that is not what this thread is about...but there are trend lines a plenty. Point is there was a beautiful set up for that 500 pip move down and I missed it..hope to not do that again.
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  • #1,067
  • Sep 12, 2010 7:28pm Sep 12, 2010 7:28pm
Quoting lawgirl21
Nothing arbitrary about it, as I see it. I just did not extend too far back into the week when drawing my TL, as that is not what this thread is about...but there are trend lines a plenty. Point is there was a beautiful set up for that 500 pip move down and I missed it..hope to not do that again.
I understand - what i was saying is it technically is not a trendline, but an upper channel line. In an up trend the trend line connects the bottoms not the tops. That's why i said your second example has more validity.
  • #1,068
  • Sep 12, 2010 7:37pm Sep 12, 2010 7:37pm
Quoting glc3344
I understand - what i was saying is it technically is not a trendline, but an upper channel line. In an up trend the trend line connects the bottoms not the tops. That's why i said your second example has more validity.
Yes, you are correct. I have allowed my nomenclature to get sloppy.
  • #1,069
  • Sep 12, 2010 7:51pm Sep 12, 2010 7:51pm
Quoting billbss
I followed this thread for a few days until it got taken over.
It looked like a viable method.
It looks like the take over artist has moved on. I'll start looking at it again.
who's the take over artist??
  • #1,070
  • Sep 13, 2010 7:15am Sep 13, 2010 7:15am

as for sms alerts i will start adding the code to my server[/quote]

Hi David.

I like to thank you for your good work and sharing your system with us as well as helping eveyone to understand it.

I've been trying it on demo acc. looks like I'm geting the hang of it.

I also like to be on the SMS list,I hope its not too late to be added on.

Thank you.
Your hard work is appreciated.
  • #1,071
  • Sep 13, 2010 9:28am Sep 13, 2010 9:28am
Trade setup
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  • #1,072
  • Sep 13, 2010 9:44am Sep 13, 2010 9:44am
Quoting lawgirl21
Trade setup
hello lawgirl21, did GU already go?
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  • #1,073
  • Sep 13, 2010 2:40pm Sep 13, 2010 2:40pm
Quoting lawgirl21
Trade setup
Out with +49 pips.
  • #1,074
  • Sep 13, 2010 2:56pm Sep 13, 2010 2:56pm
Quoting driftwood
hello lawgirl21, did GU already go?

I took money off the table with it pretty quickly. It looks stalled out now, but I believe it will head up further.
  • #1,075
  • Sep 13, 2010 3:00pm Sep 13, 2010 3:00pm
Quoting lawgirl21
Out with +49 pips.
  • #1,076
  • Sep 13, 2010 4:48pm Sep 13, 2010 4:48pm
Another Setup?
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  • #1,077
  • Sep 13, 2010 4:54pm Sep 13, 2010 4:54pm
Quoting lawgirl21
Another Setup?
hello lawgirl21, I also look for eurjpy on this TL
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  • #1,078
  • Sep 13, 2010 5:08pm Sep 13, 2010 5:08pm
Quoting driftwood
hello lawgirl21, I also look for eurjpy on this TL
Daily and weekly are both long, so looks good for us.....we'll see.

Also forming a channel for potential channel trading!
  • #1,079
  • Sep 13, 2010 6:34pm Sep 13, 2010 6:34pm
Quoting lawgirl21
Daily and weekly are both long, so looks good for us.....we'll see.

Also forming a channel for potential channel trading!
hello lawgirl 21, i just read on forexlive:
"The Japanese Prime Minister Kan is being challenged for party leadership today and a win for the challenger Ozawa would greatly increase the liklihood of intervention in the FX markets."

I think i don't trade any jpy for now

Good luck for you tho!
  • #1,080
  • Sep 13, 2010 6:51pm Sep 13, 2010 6:51pm
Quoting driftwood
hello lawgirl 21, i just read on forexlive:
"The Japanese Prime Minister Kan is being challenged for party leadership today and a win for the challenger Ozawa would greatly increase the liklihood of intervention in the FX markets."

I think i don't trade any jpy for now

Good luck for you tho!
Examine this statement.

By whom would the intervention be made?

Who says it will be made?

Why should it be made?

If it is made, will it make any difference?

Need I go on?

Why should the markets care whom is the PM of Japan? Dem markets dey go up, den dey go down, den dey go up again...........................

We have been having a laugh at this sort of guff in Bob's thread. Stay out of the market if you do not want to be in it, but not because some dipstick says something that has no backup factual information.

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