Channel surfing!

I really like the AUDNZD. Great supply at this level. Im going to break the rules a little and enter early before the next 4H close. Enter short 1.2450, TP 1.2410, SL 1.2470.

Target hit on EURAUD +110. Great trade!

Weird...my 4 hr chart does not show that it closed outside the channel. But that pig is getting ready to drop.

Closed just outside on my charts.

That's gonna be a solid pick right there. I missed it watching the game.

tmoney,

I have the highest respect for you and your method of selecting your picks. But why is my chart not matching yours?

The candles themselves look different. Just look at the last 4 candles on this 4 hr chart of AUDNZD and compare it to your chart...what the heck?

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Hi Tmoney;
I want to ask a question about system.
EURAUD yesterday 4hour channel and daily channel were the same direction.
and I trade sell . But 4 hour channel turned up before target level today.
What shall we do for this situation. Close trade or wait TP?

Nobody can explain me better, thanks.

The entry signal is when price close outside the 4 h channel and then i open my position in the next candle?!

But sometimes the channel changes after we open a position, what to do then?!
I don't understand where to put SL and TP?!

As i said, sorry my ignorance.

Thanks.

4 Hr candles look different on different broker's charts, because they do not have the same start and stop times.

All brokers have their 4 Hr candle start at 0000, 0400, 0800, 1200, 1600 and 2000, but those times are not the same GMT time among various brokers.


If you want your charts to look like tmoney's, then find out which broker's chart he is using and down load a demo from the same broker.

OCD, thats very strange. I think its a matter of brokers. Remember, we are trading the wild wild west of FX trading. I would love to say you can trust EVERYTHING you see in this business but thats not always the case. With that said, if the trade isnt setup on your chart then its best not to take the trade. I wish I had a better answer for you...

Ardasu and zepipo - If I am in a trade and the channel changes direction, most of the time I will stay in the trade and let my money management take care of the rest.
With the channels moving (because of being dynamic) it makes this strategy less black and white. Because of that, I gonna try to find another medium term trend filter that can be used to replace the 4H channel for those having issues.

Hope this makes sense. Ill post updates soon.

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Thank you very much for answer.My second question is:
As a chart eurusd was closed below the daily channel .
Today it seems to close on the daily channel.But 4hour channel shows down trend.
Can we take a buy position? What is your opinion?

I wouldnt open a buy position against the 4H trend.

Thanks tmoney and bill for your answers. I never would've thought that the candles would be different but okay.



Anyhoo, according to my chart, AUDNZD is setting up for a short. Have to see after this candle.

But I do have a question about AUDNZD...it seems the first level of demand is close to where it is trading right now. Is that our exit or do we use the one below it because it's not far from it either?

Then; we will wait 4hour channel will come the same direction.

two posible setups may line up, just not sure about the supply on the eur/aud, whould apreciate your comments tmoney...

EURCAD looks to be setting up for a long but it is not near the demand level...then is it still a possible trade?

I'm seeing that this whole supply/demand criteria is crucial when trading the channels. Otherwise, it just continues its current trend TO GET TO that next supply/demand level.

Is that kind of right?

OK, so some people are having a hard time with the multi trend analysis and repaint issue. As you know, I am a price action and supply and demand trader that puts a focus on proper MM. With that said, multi timeframe trend analysis (Daily and 4H) is VERY importaint in my trading style. Combining multi timeframe trend analysis with supply and demand levels with proper money management provide the highest quality trades.

So, Im a HUGE fan a trend analysis 101. Higher highs, higher lows - UPTREND... Lower highs, lower lows - DOWNTREND. SIMPLE. ZIGZAG indicator is an extreamly simple yet very powerful indicator allowing traders to spot actual trend easily, visually.

SO... Staying withe the multi timeframe trend analysis and supply and demand, this is another type of version of my styel.

Trade on a 4H chart ONLY with the daily trend channel. Using the SHI-MTF indicator set to 1440. Then, put NOLAGZIGZAG_V2 with 0, 12, 2 settings.

We then take trades in a downtrend ABOVE the daily mid line and in a uptrend BELOW the daily mid line. And we only trade AT the trend SHIFT level. (Level where price made a higher high (uptrend) or lower low (downtrend)).

Once you trade zigzag you will see that at the trend SHIFT areas a lot of times is where price will form supply and demand areas. This makes the supply and demand concept trading much easier.

Attached is pics of trades setting up.
The white line is where I will be placing trades. USCAD IS SHORT. USDJPY IS SHORT. EURJPY IS LONG. CHFJPY IS LONG. GBPCHF not yet, EURGBP not yet.

This still fall in line with the original concept, just with a differnt 4H trend filter and helps simplify the supply and demand concept. hope this helps.

Let me know how I can help further...

Interesting and simple approach. Thanks for sharing and nice explanation.

P.S. Those buy/sell lines are a bit distracting. Made me think when and why you have entered. plus you have a position on every pair...

Sorry, ignor the buy sell lines. I'm testing a long term trend concept trading all paris.... I'll report the finding once I have enough data to prove the concept.

Hopefully they dont take away from the main concept of the multi trend and supply and demand analysis.

Any questions on the new setup? I will start posting trades with SL and TP levels using the ZIGZAG.

Let me know if you have questions.

Thanks