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EJ_4H method

  • #341
  • May 21, 2006 9:08am May 21, 2006 9:08am
eurusdtrader,

I've been reading all your posts in this thread and particularly, i like your generousity. Thanks you and hope to read more..
The future depends on what we do in the present.
  • #342
  • May 21, 2006 10:51pm May 21, 2006 10:51pm
Is it worth using?
  • #343
  • May 22, 2006 3:05pm May 22, 2006 3:05pm
Hi
What do you think about EUR/JPY?
I think this one has posibilities. It has no signal on 4H but it has on 1 Hour.

TIA
Attached Image
Johann Channels and cycles are everything
  • #344
  • May 22, 2006 3:15pm May 22, 2006 3:15pm
I think both the EUJR/JPY and the GBP/JPY bare watching for a sell signal. Both are in a range pattern, the 8 MA has a nice distance from the 55 MA and both have been having lower highs and lower lows over the last 3-4 bars.
  • #345
  • May 22, 2006 4:58pm May 22, 2006 4:58pm
I think in the same way

THX
Johann Channels and cycles are everything
  • #346
  • May 22, 2006 6:57pm May 22, 2006 6:57pm
Quoting Tragapips
Hi
What do you think about EUR/JPY?
I think this one has posibilities. It has no signal on 4H but it has on 1 Hour.

TIA
I agree..there may be an opportunity for a sell and something to keep an eye on. The price is currently resting on the 8SMA on the 4-H chart. Let see if it can break through...
  • #347
  • May 22, 2006 11:38pm May 22, 2006 11:38pm
Tragapips, migamb and ForexMike,

It is a very decent trend, you know the instruction that how to be prepared for such condition. try to draw the patterns and make relations among indications.

Rgds,
Ibo

Quoting ForexMike
I agree..there may be an opportunity for a sell and something to keep an eye on. The price is currently resting on the 8SMA on the 4-H chart. Let see if it can break through...
  • #348
  • Edited 1:44am May 23, 2006 1:38am | Edited 1:44am
I just saw now that you sold, if you see the attached chart again, you can see that still price is above 8SMA, this is aggressive and any close below 8SMA is a confirmation of downside. If you look you can see that you will lose 20-30 pips if choose sell below white line rather than selling aggressively. BTW Part IV that will be published this weekend will enlighten this set-up.
In case that you use other additional indications that give the weight to one side, then I recommend using limit orders because they get the top and dips very excellent and need few pips of stops. Moreover in case of reversing you can get out with few pips or even break-even, Buy I think you know how you should be kin to estimate the reversal zone.


Good trading,
Ibo

Quoting Tragapips
Hi
What do you think about EUR/JPY?
I think this one has posibilities. It has no signal on 4H but it has on 1 Hour.

TIA
  • #349
  • May 23, 2006 6:55am May 23, 2006 6:55am
THX for your advice Eurusdtrader.

Quoting eurusdtrader
I just saw now that you sold, if you see the attached chart again, you can see that still price is above 8SMA, this is aggressive and any close below 8SMA is a confirmation of downside. If you look you can see that you will lose 20-30 pips if choose sell below white line rather than selling aggressively. BTW Part IV that will be published this weekend will enlighten this set-up.
In case that you use other additional indications that give the weight to one side, then I recommend using limit orders because they get the top and dips very excellent and need few pips of stops. Moreover in case of reversing you can get out with few pips or even break-even, Buy I think you know how you should be kin to estimate the reversal zone.


Good trading,
Ibo
Johann Channels and cycles are everything
  • #350
  • May 23, 2006 7:14am May 23, 2006 7:14am
Please. Tell me about this one.
Gbp/Jpy. I see a big ascending triangle. Price hit resistance 3 times and right now price is consolidating above a support line. We have a sell signal.
So this is what I think: A buy order above R1 @ 211.20 and/or a sell order below S1 @ 220.00. Some comments please.
Attached Image
Johann Channels and cycles are everything
  • #351
  • May 23, 2006 11:33am May 23, 2006 11:33am
Hello,
You are doing well. But totally this is the last step that I will take to explain. There are many aspects that we should consider. I just attach some pitures explaining some points.
In the pic 1 you can see that the nearest important level.

Quoting Tragapips
Please. Tell me about this one.
Gbp/Jpy. I see a big ascending triangle. Price hit resistance 3 times and right now price is consolidating above a support line. We have a sell signal.
So this is what I think: A buy order above R1 @ 211.20 and/or a sell order below S1 @ 220.00. Some comments please.
Attached Image
  • #352
  • May 23, 2006 11:43am May 23, 2006 11:43am
You can see that the importance of this level is doubled because it is weekly central pivot too.
Attached Image
  • #353
  • May 23, 2006 11:51am May 23, 2006 11:51am
Although we have a reversal from a decent trend but the potential supports are so close to eachother,in case of a sel-off market the 61.8% that is 55SMA here will be the first target and you should regard the support trend line that is for a major trend, so I recommend close watching to trail your stop ASAP to break-even and close the position if you see any reversal candle bouncing form a support. But if you think that this is a pair that its candles are overlapping ones, you are right, in the run of a trend you can see that the price will retrace to white line, this is the time that you can enter short. BUT when price reached yellow line or support it is a better case because it is indicating a major trend signal and you have more chance to be a winner.

NEVER forget the relations among the diverse pairs, EUR is like GBP so GBPJPY will be so similar to EURJPY, meaning that you can see EURJPY condition and if you don't see any supporting for that and market for EURJPY is sell-off this means that you have a good chance to sell rather than buy.

Best,
Ibo
Attached Image
  • #354
  • May 23, 2006 3:06pm May 23, 2006 3:06pm
Quoting eurusdtrader
Although we have a reversal from a decent trend but the potential supports are so close to eachother,in case of a sel-off market the 61.8% that is 55SMA here will be the first target and you should regard the support trend line that is for a major trend, so I recommend close watching to trail your stop ASAP to break-even and close the position if you see any reversal candle bouncing form a support. But if you think that this is a pair that its candles are overlapping ones, you are right, in the run of a trend you can see that the price will retrace to white line, this is the time that you can enter short. BUT when price reached yellow line or support it is a better case because it is indicating a major trend signal and you have more chance to be a winner.

NEVER forget the relations among the diverse pairs, EUR is like GBP so GBPJPY will be so similar to EURJPY, meaning that you can see EURJPY condition and if you don't see any supporting for that and market for EURJPY is sell-off this means that you have a good chance to sell rather than buy.

Best,
Ibo
Fantastic. I just lost 50 pips on the GBP/JPY when it turned tail and headed north and took out my stop.

Note to self - use wider stops...

- Ian
  • #355
  • May 24, 2006 4:26am May 24, 2006 4:26am
Dear Ian,
I can not agree with your opinion totally, basically a range for stop loss is determined by 3 point:
1-Timescale that you trade
2-Currency pair
3-Risk-Reward Ratio

Of course there are some minor points that you can consider but it is not necessary we talk about them at the time.

ATB,
Ibo

Quoting iboersma
Fantastic. I just lost 50 pips on the GBP/JPY when it turned tail and headed north and took out my stop.

Note to self - use wider stops...

- Ian
  • #356
  • May 24, 2006 5:20am May 24, 2006 5:20am
I was wondering if theres a chat room for EJ 4H users,


Sam
  • #357
  • May 25, 2006 10:14am May 25, 2006 10:14am
Hello everybody,

Today we had a very slight moving market, this is because of the hesitation of sellers and buyers, most of traders believe that the eurusd will back soon to its uptrend. Anyway, 1.2880/90 is the strong resitance that medium term buyers are waiting for its break, if 1.2660 breaks we may have a very sell-off market.

In case that price is near one of these levels (1.2660/90 as support and 1.2880/90 as resitance) eye closely to pose the stop orders and not lose the opportunity to catch the market sharp move. you can see the ranging market, before any breakout/down. We can play old game of buy at supports and sell at resistances. Support your trades by taking the other complementry like daily pivots and candle patterns.

Good trading,
Ibo
Attached Image
  • #358
  • May 25, 2006 6:59pm May 25, 2006 6:59pm
Here is a trade I took this morning and just closed out this evening.

I sold the CHFJPY pair at 92.43 and closed it at 91.91 for 52 PIPS. The price continued to decline a little further, but I took my profits at the 55SMA as I did not wish to hold any positions over the holiday weekend. I also got out because the pair looks like it is now very oversold according to the STO and other indicators.

You can see the arrow signaling a sell and you can also see the preceding weak price action leading up to the decline.


Mike
Attached Image
  • #359
  • May 25, 2006 8:25pm May 25, 2006 8:25pm
i am new to forex. I have a question about weekly pivot points on your chart. Do they update automatically or do we have to update those manualy? Is there a place where i can see weekly pivots points instead of calculating those?
  • #360
  • Edited 6:08am May 26, 2006 1:57am | Edited 6:08am
Hello,

You soould read the very first post,
They are automatic , you should just always update your monthly and weekly charts, because they are the source DATA to draw the PPs.

Ibo

Quoting forextrader81
i am new to forex. I have a question about weekly pivot points on your chart. Do they update automatically or do we have to update those manualy? Is there a place where i can see weekly pivots points instead of calculating those?
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