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Buy sell line trading

  • #441
  • Mar 12, 2012 4:27pm Mar 12, 2012 4:27pm
Quoting raitchev
Of course, mate, thats obvious. Im talking about the 4H candles here.
Still... sounds like a big problem for me. Just think about it.
If your broker's 4H close is a 2pm my local time but my broker's close is at 4pm then that is where the difference is. And note, this is my local time closes. Hope that helps, p.
  • #442
  • Edited 4:46pm Mar 12, 2012 4:44pm | Edited 4:46pm
Is it me or is there a setup sell on the daily?

Edit: and the audchf on the daily...

Olu
If you think you can or cannot do it you are correct
  • #443
  • Mar 12, 2012 4:58pm Mar 12, 2012 4:58pm
Quoting raitchev
Guys its me again.
I made a little experiment... i loaded graph from 3 different brokers and all 4H graphs were differend and didnt match one of the graphs for the same pair that 60mm posted early during the day.

It just feels so wrong, i mean, we are looking at different graphs that would produce signals for one, while not giving any signals for others. (talking abt 4H).
Hi Raitchev, you are getting lost in the detail and missing the big picture.

You have to stop and ask yourself why this strategy might work, what are the reasons behind it... (you should do this with all strategies it will make you a better trader.)

We know that we have periods of trending and periods of ranging markets, we also know that buying with the trend when it exists will increase our win rate.

If price remains above a ma we could say it is trending long, and below vice versa....

Even when price is trending we also know it will move in the direction of the trend, then retrace, then continue in the trend direction. (price does this for all sorts of reasons, people take profit etc etc).

So a good strategy for trend trading is to wait for the retraces to end then jump on in the direction of the trend... On a chart that COULD look like an engulfing pattern, it could also look like a pin bar or many other patterns...

So to summarize we are just looking for low risk opportunities to enter a trending movement, its by no means guaranteed and depending when your H4's start it may or may not show on your specific chart.... we are just trying to tip the odds in our favour, then with money management, over time, we will make steady and consistent gains..

I hope that helps...

also.... entry type 2 should fill in the gap to make sure you dont miss many moves, or there will often be a signal on H1 if it doesnt show on H4...
tradewith60
  • #444
  • Mar 12, 2012 7:18pm Mar 12, 2012 7:18pm
Does anyone have an arrow indicator that displays on the chart the engulfing bars?
  • #445
  • Mar 12, 2012 7:19pm Mar 12, 2012 7:19pm
Quoting NuBeez
Waiting for the daily close to confirm this setup on the EU Daily.

http://img840.imageshack.us/img840/8931/euroo.jpg
buy stop @ 1.3174, stop loss @ 1.3074, limit @ 1.3320
Consistency = Steady growth = Solid equity
  • #446
  • Mar 12, 2012 7:24pm Mar 12, 2012 7:24pm
Trade well everyone! Off to bed.
Consistency = Steady growth = Solid equity
  • #447
  • Mar 12, 2012 8:03pm Mar 12, 2012 8:03pm
Quoting NuBeez
buy stop @ 1.3174, stop loss @ 1.3074, limit @ 1.3320
hi, may i know the reason behind why you take this trade please. not sure if it based on signal 1 or 2.
  • #448
  • Mar 12, 2012 8:12pm Mar 12, 2012 8:12pm
Quoting richdad711
hi, may i know the reason behind why you take this trade please. not sure if it based on signal 1 or 2.

thats the 2nd entry type... EU concerns me on the daily though, the ma is flat and its ranging... I like a nice slope on the ma and a stronger trend...
tradewith60
  • #449
  • Mar 12, 2012 8:37pm Mar 12, 2012 8:37pm
Quoting 60minuteman
thats the 2nd entry type... EU concerns me on the daily though, the ma is flat and its ranging... I like a nice slope on the ma and a stronger trend...
thanks 60mm.
  • #450
  • Mar 13, 2012 2:00am Mar 13, 2012 2:00am
Hi 60mm or anyone using it, could you please check the chart below whether you're going to trade it or not? is it a valid signal 2?
Attached Image (click to enlarge)
Click to Enlarge Name: buy&sell101.jpg Size: 97 KB
  • #451
  • Mar 13, 2012 2:45am Mar 13, 2012 2:45am
Quoting richdad711
Hi 60mm or anyone using it, could you please check the chart below whether you're going to trade it or not? is it a valid signal 2?
Yes, I`m considering on taking this signal, and wondering about sell on GBP/USD on 4h TF and sell on both NZD/USD and AUD/USD on 1h TF.

Yesterday made some good pips, using the system for first time.
  • #452
  • Mar 13, 2012 4:02am Mar 13, 2012 4:02am
Quoting 645
Yes, I`m considering on taking this signal, and wondering about sell on GBP/USD on 4h TF and sell on both NZD/USD and AUD/USD on 1h TF.

Yesterday made some good pips, using the system for first time.
thanks 645.

shorted at 3127. SL @ 3183 and TP @ 3074. GL
  • #453
  • Mar 13, 2012 4:09am Mar 13, 2012 4:09am
Good Day

I have taken this trade this morning and wanted to describe why I have taken and why I took the profits at the level chosen.

as you can see the ma was sloping down nicely and the price has bounced of the 50ma and creating an engulfing candle. There was slight consolidation of four candles but passed experiance has taught me that under 5 candles is not normaly a problem.. The momentum was quite good so I decided to enter the trade.

Attached Image (click to enlarge)
Click to Enlarge Name: 1 hour au.gif Size: 36 KB



My traget profit was the pivote line as I normaly find others will close their trades at this point and send the price back up..These are the only times I will close a trade with less than 1:1 Risk/Reward.

The result was

Attached Image (click to enlarge)
Click to Enlarge Name: 1 hour au tp.gif Size: 33 KB


Hope this helps..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #454
  • Mar 13, 2012 4:16am Mar 13, 2012 4:16am
Quoting 645
Yes, I`m considering on taking this signal, and wondering about sell on GBP/USD on 4h TF and sell on both NZD/USD and AUD/USD on 1h TF.

Yesterday made some good pips, using the system for first time.
You may have differant broker feed to me but my charts are not showing a sell a trade on 4H GBP/USD..The present candle has not gone below signal candle as yet..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #455
  • Mar 13, 2012 4:36am Mar 13, 2012 4:36am
Quoting Seabreeze
Good Day

I have taken this trade this morning and wanted to describe why I have taken and why I took the profits at the level chosen.

as you can see the ma was sloping down nicely and the price has bounced of the 50ma and creating an engulfing candle. There was slight consolidation of four candles but passed experiance has taught me that under 5 candles is not normaly a problem.. The momentum was quite good so I decided to enter the trade.

Attachment


My traget profit was the pivote line as I normaly find others will close...
Nice SB, my broker has only printed a 1.05321 low on AU so far this morning
  • #456
  • Mar 13, 2012 4:52am Mar 13, 2012 4:52am
Quoting sidefx
Nice SB, my broker has only printed a 1.05321 low on AU so far this morning
Yes it can be difficult at times if your trading as a group and all using differant brokers... 60mm said yesterday in the long term it does not matter if you stick with the same broker and he is correct..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #457
  • Mar 13, 2012 5:23am Mar 13, 2012 5:23am
Be a little more careful trading today people as there is quite a bit of High impact news about today and may cause unexpected reversals in price.., especialy in A/U, U/C, E/U
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #458
  • Mar 13, 2012 5:31am Mar 13, 2012 5:31am
ECAD H1 moving stops to b.e
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2012-03-13 at 10.30.12.jpg Size: 60 KB
tradewith60
  • #459
  • Mar 13, 2012 5:34am Mar 13, 2012 5:34am
Quoting 60minuteman
ECAD H1 moving stops to b.e
Well done 60mm looks very strong...

I missed this one..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #460
  • Mar 13, 2012 5:35am Mar 13, 2012 5:35am
Took this for +28 just now, ZEW data gave it the momentum i look for around entry. Like Seabreeze's AU short, took an hrly engulf formed around the pivot in line with the downtrend and took all off around S1 which was also at the round number (psych level). I'll probably leave it at that for today.

Edit: great minds D
Attached Image(s) (click to enlarge)
Click to Enlarge Name: BEOBEC130312-1.GIF Size: 51 KB
Click to Enlarge Name: BEOBEC130312-1a.GIF Size: 10 KB
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