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Trendline Scalping 4hr timeframe

  • #1,101
  • Sep 14, 2010 9:30am Sep 14, 2010 9:30am
At historic lows...
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  • #1,102
  • Sep 14, 2010 9:37am Sep 14, 2010 9:37am
Quoting JGforex7780
Hi Lawgirl,

Thanks. But i should only enter the trade when its just started or even during the candlestick???
I think it depends on how risky we are willing to trade.

By the way friends, what should we do in some cases like below with one downtrend and then one uptrend?
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All that we are is the result of what we have thought.Buddha
  • #1,103
  • Sep 14, 2010 9:42am Sep 14, 2010 9:42am
Quoting orion86
I think it depends on how risky we are willing to trade.

By the way friend, what should we do in some cases like below with one downtrend and then one uptrend?
Look for your bias on larger time frames. I have found that by mid-week, generally, the directional bias has been set by the weekly timeframe...so that is my measuring stick in most cases. Of course, if PA is showing something else..go with PA.
  • #1,104
  • Sep 14, 2010 9:46am Sep 14, 2010 9:46am
Quoting orion86
I think it depends on how risky we are willing to trade.

By the way friends, what should we do in some cases like below with one downtrend and then one uptrend?
Weekly, daily..even monthly bias for GJ is short...any other direction, IMHO, would be a countertrade.
  • #1,105
  • Sep 14, 2010 9:53am Sep 14, 2010 9:53am
Quoting lawgirl21
Weekly, daily..even monthly bias for GJ is short...any other direction, IMHO, would be a countertrade.

Thanks lawgirl21 !

By the way, with your experience, do you think we should enter the countertrade like that? Is it a little risky, right?
All that we are is the result of what we have thought.Buddha
  • #1,106
  • Sep 14, 2010 10:05am Sep 14, 2010 10:05am
Quoting orion86
Thanks lawgirl21 !

By the way, with your experience, do you think we should enter the countertrade like that? Is it a little risky, right?
I won't tell you to enter a trade, or not. Countertrend trades are riskier than trend trades, and trend trades are risky in and of themselves. So depends on your comfort level and tolerance for risk.

I enter countertrend trades all the time in what I call channel trading. But they are generally well controled and within specific parameters. Most are successful, some are not...like all trading.
  • #1,107
  • Sep 14, 2010 10:12am Sep 14, 2010 10:12am
Hi All,

Is this a possible trade setup
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  • #1,108
  • Sep 14, 2010 4:03pm Sep 14, 2010 4:03pm
Another setup?
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  • #1,109
  • Sep 14, 2010 8:41pm Sep 14, 2010 8:41pm
First time tried this.. EJ hit stoploss. hopefully i am trading right. took a sell on the 3rd touch but the price blow through the roof.
  • #1,110
  • Sep 14, 2010 10:17pm Sep 14, 2010 10:17pm
You started on a very weird day. It almost seemed like there was a currency war going on.....

You're trade was correct. Just be careful tonight. The wolves are howling. Do the same thing, the same way next time....you'll be fine!!! The trend was down on the h4, daily, wk. Good choice for a first trade.

Quoting juzgood1978
First time tried this.. EJ hit stoploss. hopefully i am trading right. took a sell on the 3rd touch but the price blow through the roof.
  • #1,111
  • Sep 14, 2010 10:37pm Sep 14, 2010 10:37pm
This may explain it. Sounds a bit scary!!!

http://www.forexfactory.com/news.php?do=news&id=255981

Found this a minute ago. Oh the humanity!!! Hold on, the ride may get rough!!!

Anybody want to buy gold at 5k an ounce?
  • #1,112
  • Sep 14, 2010 10:53pm Sep 14, 2010 10:53pm
My last trade of the night. Weekly, daily, H4...even H1 all long. This was a scary day...
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  • #1,113
  • Sep 14, 2010 11:20pm Sep 14, 2010 11:20pm
wow big market action happening hope everyone is on the right side of the market
  • #1,114
  • Sep 14, 2010 11:31pm Sep 14, 2010 11:31pm
Thanks, good to know i am doing it right. its ok to loose i am more worried i am using the system wrongly.
Quoting cugir321
You started on a very weird day. It almost seemed like there was a currency war going on.....

You're trade was correct. Just be careful tonight. The wolves are howling. Do the same thing, the same way next time....you'll be fine!!! The trend was down on the h4, daily, wk. Good choice for a first trade.
  • #1,115
  • Sep 15, 2010 12:13am Sep 15, 2010 12:13am
Quoting david486
wow big market action happening hope everyone is on the right side of the market

Didnt enter the market, BOJ intervene cause all JPY trades losing trend all almost at the same time.

Hope to get some trend later to enter....
  • #1,116
  • Sep 15, 2010 12:58am Sep 15, 2010 12:58am
Quoting lawgirl21
My last trade of the night. Weekly, daily, H4...even H1 all long. This was a scary day...

Hi lawgirl21,

I dont think this one is a valid setup. The first and second leg are very close to each other as Mr. Dave said from the first pages of this thread.
All that we are is the result of what we have thought.Buddha
  • #1,117
  • Sep 15, 2010 3:47am Sep 15, 2010 3:47am
Quoting lawgirl21
My last trade of the night. Weekly, daily, H4...even H1 all long. This was a scary day...

Out with +45 pips. Could have stayed in longer for over 100 pips, but got tired of watching.
  • #1,118
  • Sep 15, 2010 4:19am Sep 15, 2010 4:19am
how do you manage the trades? once two touches have been done, do you keep watching the next h4 for a touch to enter?

Quoting lawgirl21
Out with +45 pips. Could have stayed in longer for over 100 pips, but got tired of watching.
  • #1,119
  • Sep 15, 2010 8:47am Sep 15, 2010 8:47am
Hi all,

I dont see any trend forming. Seems like to action tonight
  • #1,120
  • Sep 15, 2010 9:21am Sep 15, 2010 9:21am
Quoting coolshades
how do you manage the trades? once two touches have been done, do you keep watching the next h4 for a touch to enter?

Exactly, if I can..meaning if I can get to the computer. I have a full time job, but am self employed so that helps.

I have 6 regular pairs that I watch. I try to scan them at 10, 2, and 6 a.m. and/or p.m. Obviously I miss the 2:00 a.m. scanning most of the time. Often I am late for a trade i.e. I don't get there at the third touch on a new H4 candle. I then have to decide to take the trade anyway or not. That last trade I posted, I was very late on, but took it anyway because I thought it had a lot more ride to it. It did, I was lucky. Hope this helps.
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