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X-Man's super simple system 4 hour method 1 reply

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X-Man's Super Simple System

Quoting Chuckyisback
The 4 hour.

I know we have to wait but IF a candle finishes above the prev highs (see arrow on chart) would it be a correct entry ?

Sorry for the continual questions
That question is best answered by Britpip7
He is the master at fractal breaks.
He enters few pips above the high when it breaks and not exactly on the high
X-man the legendary conqueror of markets
X-Man

Yeah, I was long when the blue wick appeared and went back down. I'm even trying a new EA to automate my exit called cavemanager that PHx62 turned me onto today that moves stoploss to 5 pips below/above candle. Testing is going rather well so far. Moved my stop loss twice and now I see I am cresting over 30 pips on this trade so, so far I am breaking even and going into profit territory. I owe so much to PHx62 and you for that matter. Thanks guys.

Hey guys, are we looking at a double top on the 4 hour Euro? Take a quick look and see what you think. That's for anybody interested
"IN CASH WE TRUST"
Quoting X-Man
There was a lovely entry point on the 15m chart with that long upper wick.
Lazylobster did you get in on that trade? i know you trade on the 15m charts
I took this entry at the 15M. Got my 50 pips for today.

gms
Saw that set up on 15 m... 1 hour later.. >.<
GMS:

Could you post your chart? Would like to see your entry. Has to have been better than mine as I'm not there yet. Neat to see another 15M person.
"IN CASH WE TRUST"
Quoting X-Man
That question is best answered by Britpip7
He is the master at fractal breaks.
He enters few pips above the high when it breaks and not exactly on the high
Thanks X, but to be honest I'm not working with the Fractals - don't understand them. TRYING to work with your system that's all

Thanks
Heres the 15m chart which shows that signal candle with the long upper wick (marked with the red arrow)
My entry wouldve been at the opening candle after the signal candle.
My SL would be 20 pips
Now it wouldve been hitting the target of 50 pips. Just like GMS.
Attached Image (click to enlarge)
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X-man the legendary conqueror of markets
Quoting LazyLobster
GMS:

Could you post your chart? Would like to see your entry. Has to have been better than mine as I'm not there yet. Neat to see another 15M person.
Sure ....
Attached Image
GMS:

Looks great man thanks.

You to X, that was a picture perfect pullback candle. Funny, I've PM newbies probably 20 times to give explanation of the pullback candle, and here I am hesitating on it... Funny. Still in the deal, in fact I raised my TP to 100 with the idea that it is going to break the support it just bounced a little on. We'll see. Locked in enough profits to keep me in the black so I am happy. Still watchin' this EA as well.

LL
"IN CASH WE TRUST"
Quoting X-Man
My entry wouldve been at the opening candle after the signal candle.
My SL would be 20 pips
Now it wouldve been hitting the target of 50 pips. Just like GMS.
You may notice on my chart that I entered early. Like X-Man says according to the rules I should have waited for the opening of the next candle.

However, the pull back was so obvious and perfectly coincided with the resistance that could not be broken several times during the last 3 days.

gary
Quoting Liberum
The highs are there from 23 January till now.

A few times it pinched through but came back each and every time (even after positive Eurozone news), so it's pretty safe to assume there is strong resistance in the 1.3030-1.3050 area.

Edit: More precise, I spot the resistance at 1.3038

Many thanks Liberum. Spot on and I'll be sure to look at the bigger picture in future

Cheers
I probably should have stayed in this trade longer but was looking for 40 pips which was what was achieved.

I took a page from Phx62 and Britpip on taking the trade after the break of the fractual of the asian session and confirmed by the cross of the TDI.

A risk that work this time. I'm usually not that lucky.

Now to wait for the NY session.

Thanks X-man for such a great thread.

CM
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Quoting Chuckyisback
The 4 hour.

I know we have to wait but IF a candle finishes above the prev highs (see arrow on chart) would it be a correct entry ?

Sorry for the continual questions

Sorry guy's I've answered my own question ..

The price is below the EMA so no longs. It's just the bottom of the channel is so good as a low..

I'm rereading the thread...
Quoting CodeMonster
I probably should have stayed in this trade longer but was looking for 40 pips which was what was achieved.

I took a page from Phx62 and Britpip on taking the trade after the break of the fractual of the asian session and confirmed by the cross of the TDI.

A risk that work this time. I'm usually not that lucky.

Now to wait for the NY session.

Thanks X-man for such a great thread.

CM
No problem code monster.
It pleases me to see so many traders benefiting from this thread and trading this method with their own style.

As i mentioned in one of the first post that you dont need a lot of indicators to make pips and look how well its working out. The trades become as clear as a window ( a window to great opportunities)
The more indicators you add the more confusing it becomes and the more cluttered your chart gets.


The main indicator is within yourself
X-man the legendary conqueror of markets
CodeMonster:

What was the risk that you took? Your system had given you a signal right? You made 40 pips right? That's more than I took this time cause the PA rippled against me and hit my stop at about 28 pips, but a profit is a profit. It would seem that you executed the trade very well.
"IN CASH WE TRUST"
i'm short on eurusd waiting for good bearish momentum.

BTW
if you wanna share thoughts on X Man's system
skype me: @elchinoazul


best regards
let's skype: @elchinoazul
Quoting LazyLobster
CodeMonster:

What was the risk that you took? Your system had given you a signal right? You made 40 pips right? That's more than I took this time cause the PA rippled against me and hit my stop at about 28 pips, but a profit is a profit. It would seem that you executed the trade very well.
Thanks LazyLobster for the critic.
It's much appreciated.
And you are right "profit is profit" in this crazy game of forex.

CM
Quoting X-Man
I did not take any trade yet.
The Long not looking too good. We will wait and see what happens
Please X-Man,
how have you analyzed the candle was not good for long? at the beginning of the hour, it yet broken up, the range of the Asian session.

Thank you

Vcary
Gms , how has that EA been working for you??
Quoting vcary
Please X-Man,
how have you analyzed the candle was not good for long? at the beginning of the hour, it yet broken up, the range of the Asian session.

Thank you

Vcary
Well firstly a big hint was on the Daily TF.
PA was touching the top of the channel as well as touching the 60EMA so this acted as a resistance. TDI broke through the bands for some time now , so I knew it had to cross down to settle in the blue bands again. So i expected the bounce down. You can view this in the first chart i posted.

In my second chart i marked a candle with an arrow to indicate a weak blue candle.

At times PA will break through resistance and wont always bounce off.
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X-man the legendary conqueror of markets
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