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Swing trading with heiken ashi and stochs

  • #981
  • Apr 30, 2012 11:06pm Apr 30, 2012 11:06pm
Quoting Ozefex
I considered what S/R there was to be minor with similar strength levels below the 106.000. I was waiting for a bounce back but this didn't occur - it just went smoothly down to 105.500. Know what you mean however and have been caught before. I can see the round numbers do have an effect, but this one was obviously ready to move through.
Fair enough, good analysis. I always feel more comfortable buying or selling away from these levels rather than into them but that's not set in stone I suppose.
  • #982
  • May 1, 2012 6:56am May 1, 2012 6:56am
Quoting Hugh Briss
Audusd and chfjpy both stalled a bit so I took a small profit on both positions. A little dissappointing as it looked like there should be a good profit on these trades. I will probably wait til after the aud rate statement before I take any more trades.
I woke this morning to 110 pips profit on Aud/Usd.
  • #983
  • May 1, 2012 7:06am May 1, 2012 7:06am
Quoting wrenski
I woke this morning to 110 pips profit on Aud/Usd.
Nice one. If I had left mine running I would be up that much but you never know which way the news is going to go. A little bit quiet for everything else today with the European bank holiday.
  • #984
  • May 1, 2012 7:15am May 1, 2012 7:15am
Quoting Hugh Briss
Nice one. If I had left mine running I would be up that much but you never know which way the news is going to go. A little bit quiet for everything else today with the European bank holiday.
Oh, I agree completely. That was news luck, for sure!!
  • #985
  • May 1, 2012 7:19am May 1, 2012 7:19am
Quoting wrenski
Oh, I agree completely. That was news luck, for sure!!
Isn't that the best kind of luck?
  • #986
  • May 1, 2012 7:48am May 1, 2012 7:48am
I"m still using the original setup, 4H+stoch cross + trend, and I see a potential short for the $/Cad. I have 14 minutes yet to go for a new candlestick but looking to place a sell stop @ .9859; SL .9894; TP .9810. Any comments are welcome.

edit: a retracement may be ending on the gbp/$ too.
  • #987
  • May 1, 2012 8:03am May 1, 2012 8:03am
I am in this long @ 1.6238. Good cross and both MAs (100 & 200) are compliant. $/C doesn't have a cross yet, I will not take this trade.
  • #988
  • May 1, 2012 8:57am May 1, 2012 8:57am
Do you wait for the candle to close on the other side of the 8 ema before entering a trade, or is the 8 ema there just for trailing stop purposes? BTW, started using your system yesterday and I already like it. Thanks!
  • #989
  • May 1, 2012 9:01am May 1, 2012 9:01am
Quoting Wendavol
Do you wait for the candle to close on the other side of the 8 ema before entering a trade, or is the 8 ema there just for trailing stop purposes? BTW, started using your system yesterday and I already like it. Thanks!
Usually that will be the case but no, it is not necessary. If the HA candle changes but the move was fairly shallow you can still take the trade. The bonus is you should only need a relatively small stop loss.

Thanks, glad you like it. Spend some time going back through the charts and tune your eye to what a good signal looks like. You won't always get it right in real time but you don't need to, one good trend will cover all the little losses.
  • #990
  • May 1, 2012 9:12am May 1, 2012 9:12am
Hi everybody,
Hugh Briss, thank you for sharing your knowledge

Here's what I understood about your strategy:

on H4 graph:
draw supp/resist
buy on supp, sell on resist
presence of force (tall candle(s))

on H4 Stoch:
buy when oversold area (below 20-line)
sell when overbought area (above 80-line)

on Daily Stoch:
buy when oversold area (below 20-line)
sell when overbought area (above 80-line)

on HA Daily graph:
draw supp/resist
buy on supp, sell on resist
presence of force (tall candle(s))

Questions:
1. Why use HA Daily graph. What does it give more than the H4 graph? Does it is to keep an open position until the color of the HA Daily candles has not changed (without looking at color changes on H4 graph)?

2. I think the Red Green TDI (from Trade Made Simple method indicator) is more useful to determine when to enter and when to exit a trade. You know Trade Made Simple method, do you think the Red Green TDI is useful for us?

3. You open all your trade only when Daily Stoch is on oversold area or on overbought area? Or do you consider Daily Stoch as an advantageous situation (as a "plus")?

Thank you again
  • #991
  • May 1, 2012 9:18am May 1, 2012 9:18am
Stopped out on the gbp/usd - there wasn't a whole lot of upside to this long/buy trade so I had a stop at the nearest swing low. Looks as though news is good for the dollar but I won't try and reenter. Part of the game. p
  • #992
  • May 1, 2012 11:28am May 1, 2012 11:28am
Quoting vinze87
Hi everybody,
Hugh Briss, thank you for sharing your knowledge

Here's what I understood about your strategy:

on H4 graph:
draw supp/resist
buy on supp, sell on resist
presence of force (tall candle(s))

on H4 Stoch:
buy when oversold area (below 20-line)
sell when overbought area (above 80-line)

on Daily Stoch:
buy when oversold area (below 20-line)
sell when overbought area (above 80-line)

on HA Daily graph:
draw supp/resist
buy on supp, sell on resist
presence of force (tall candle(s))

Questions:
1....
Hi, your understanding is correct, you seem to have got it down but to answer your questions...

1) The daily HA chart just gives you a little extra confirmation, if the daily ha has been moving up and then turns red, the daily stochs are overbought AND you get a nice stoch cross on the 4 hour then it stacks the odds more in your favour. Of course it won't work every time but as long as you don't bet the farm on every trade then you should catch enough nice moves to pay for the losers and then some.

2) TDI looks ok, I have seen it and tried it on a chart but I've never really used it. Why do you say it is more useful? How about MTF TDI, using the daily TDI and then waiting for a TDI cross on the 4 hour? Could be an idea. I'm open to all ideas, this is just my latest improvement, if it can be improved further then I'm all ears.

3) Yes, I won't trade AGAINST the daily stochs BUT it can be in the middle and crossing up (or down), as long as the 4 hour stochs are crossing and there is a nice HA change.

Thanks for your questions and I hope I answered them ok?
  • #993
  • May 1, 2012 11:30am May 1, 2012 11:30am
Quoting piprac
Stopped out on the gbp/usd - there wasn't a whole lot of upside to this long/buy trade so I had a stop at the nearest swing low. Looks as though news is good for the dollar but I won't try and reenter. Part of the game. p
Yep, unlucky with that one, you did open an hour before the news so you had a chance of it moving away from your entry so you could get to break even but it didn't happen. On to the next one.
  • #994
  • May 1, 2012 11:30am May 1, 2012 11:30am
I am long usdjpy. Bounce from the 80 level. Daily and 4 hour stochs moving up. I'll post a chart later.
  • #995
  • May 1, 2012 12:21pm May 1, 2012 12:21pm
For your opinion - second trade - Old school view .

Got in at .9873 SL .9927 TP .9827 Looks like the momentum is still swinging down.

Thank you for looking...
Attached Image
  • #996
  • May 1, 2012 12:33pm May 1, 2012 12:33pm
Thanks, Hugh
Just found your thread...Reading through it now...Great info....Will be following you, and contribute when I can..
Thanks again,
Don
  • #997
  • May 1, 2012 1:13pm May 1, 2012 1:13pm
Quoting drzeepfx
For your opinion - second trade - Old school view .

Got in at .9873 SL .9927 TP .9827 Looks like the momentum is still swinging down.

Thank you for looking...
The volatility on the previous candle would worry me but it definitely looks as though it could work out. I'd get to break even fairly quickly though to be on the safe side.
  • #998
  • May 1, 2012 1:13pm May 1, 2012 1:13pm
Quoting degil
Thanks, Hugh
Just found your thread...Reading through it now...Great info....Will be following you, and contribute when I can..
Thanks again,
Don
No worries, glad you like it, looking forward to your posts.
  • #999
  • May 1, 2012 1:18pm May 1, 2012 1:18pm
Here's my usdjpy trade. Daily stochs low and 4 hour stochs rising. 6 pips up. I'll move to break even if in profit by 10 or more pips by 9pm GMT +1, my brokers 4 hour candle close. I seem to remember the 80 level being important for some reason, did the BOJ say they were going to protect that level?
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  • #1,000
  • May 1, 2012 3:10pm May 1, 2012 3:10pm
Hugh Briss, thank you to answer my question, it is very clear

I am actually comparing H4 Stoch and H4 TDI, and it seems that most of the time, Stoch is ahead of the TDI. So, I am agree with you: there is no interest to use TDI, if we already use Stoch.

About your suggestion: How about MTF TDI, using the daily TDI and then waiting for a TDI cross on the 4 hour? Could be an idea.
I think this is impossible. Because there is no relationship of proportionality between TDI of different timeframes. For example: look at the Daily TDI evolution is useless to determine H4 TDI evolution.

About your last post (#999):
I am agree to say H4 Graph, H4 Stoch and Daily Stoch are good to open a long position. But about Daily HA Graph, there is not color change and there is a strong bearish (down) trend. This is a clear down trend.

Ok, I know you said (on post #929) you don't look at trend. But don't you think that in the present case, it is very risky to trade against the trend. (First trading rule I learned: never trade against the trend).

Thank you for your help and to share your trade analyzes
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