Weekly-Daily-4Hr System

Hello Friends

Trading for past 8 years and after losing thousands each year running around to get the magic bullet. Finally resorted to simple lines and price action.

I trade charts with simple ideas and would like to like to post potential trade set ups and my trades:

System: Find attached my template for the system

Draw Weekly channel- Trendlines or Channel Bands (Outside and Inside) - Black Lines

Understand the trend from Weekly (Up/Down/Range)
1.Weekly trend Up - Trades from Band extreme sell or buy is very profitable and chances for false break to up side is very high
2. Weekly trend Down - Trades from Band extreme sell or buy is very profitable and chances for false break to down side is very high
3.Weekly trend Range- Trades from Band extreme sell or buy is very profitable and chances for false break is low. Any overshoot trade should be studied properly

Band Extremes:
1. I always draw 2 lines for support or resistence either in the form of trendlines or horizontal lines. The extreme lines are called band extremes
2. I look immediately for any price action to go up (lower band extreme) and to go down on (higher band extreme)
3. I always study how the currency behave on the band extreme on prior moves before any trigger
4. Trade always on Band Extremes to the First Trouble Areas (First areas of support(in case of sell) or resistence (incase of buy))

http://clip2net.com/clip/m90706/1357...-clip-23kb.png

Daily Double Pin - Horizontal Lines (Red Lines) - Resistence or Support Lines
1. Draw Red Horizonal Lines either in weekly or Daily where you see price rejecting exactly around the same point.

http://clip2net.com/clip/m90706/1357...-clip-26kb.png

Price Action - Four Hour or Daily (Pins Or False Breaks)
1. Bullish Pin on Up trending bars - Bearish
2. Bullish Pin on Down trending bars - Bullish
3. Bullish Pin on side Market - Bullish when broken upside and Bearish when broken downside
4. Bearish Pin on Up trending bars - Bullish
5. Bearish Pin on Down trending bars - Bearish
6. Bearish Pin on side Market - Bullish when broken upside and Bearish when broken downside
7. Any Pin will be only valid if broken on the next bar immediately for trade confirmation
8. False Breaks is nothing but failed inside bar(IB) break out opposite side of the current price movement.

Risk Management :
1:1 or 1:2 , 50 usd (Low confidence) or 100 usd (High confidence)


Trade Analysis Template: Currency Name)
1. Trend Study (HH/HL or LH/LL or Side) :

2. Band Extreme Study - Previous price behaviour on band extremes
Overshoot: Does price overshoot on earlier band extremes? (Y/N)
Inner Reversal: Does price reversal earlier from only the inner Band? (Y/N)
Outer Reversal: Does price reversal earlier from only the outer Band? (Y/N)
Inner/Outer Reversalrice Reversal on Inner and out Band previously? (Y/N)
If Yes: Then what conditions made the price reverse earlier from the inner band? Reason?

3. Resistence and Support Study
Close to Weekly Channel Extreme Sell? (Y/N)
Close to Weekly Channel Extreme Buy? (Y/N)
Double Pin Support? (Y/N)
Double Pin Resistence? (Y/N) - Value
Dynamic Support/resistence (8/21 ema only daily and weekly) : (Y/n)
Noting Intresting: (y/N)

4. Price Action Study (4hr or daily)
Bullish Pin (from PA notes 1-6)? Y/N
Bearish Pin((from PA notes 1-6)? Y/N
Bullish False Break? Y/N
Bearish False Break? Y/N
No PA Yet?

5. Risk Management Study - First Trouble Areas (noticed?)
FTA Range - (Value)
FTA Below 1: 1 (Y/N) - Note: please do not enter the trade instead enter on the next signal after FTA.

6. Trigger : Enter with risk/reward 1:2
Stop Loss:
Take Profit:
Risk:Reward:
Comments:

Examples:
http://clip2net.com/clip/m0/1357774790-clip-25kb.png

http://clip2net.com/clip/m0/1357848153-clip-19kb.png

http://clip2net.com/clip/m0/1357884560-clip-18kb.png

http://clip2net.com/clip/m0/1357884650-clip-21kb.png

Congratulations for the new thread mate looks interesting with your analysis purely based on price actions I am on the same track trading price actions with multiple time frame analysis I do 4h-D1 only two time frames I will keep my eye on your system too. I concentrate only on GBP/USD pair if you research this pair then it will be likely to be good for me Looking to share a lot cheers all the best and good piping

Thanks Mate

GBPUSD: My view
http://clip2net.com/clip/m0/1357887670-clip-27kb.png

http://clip2net.com/clip/m0/1357885824-clip-21kb.png

http://clip2net.com/clip/m0/1357885915-clip-18kb.png

This looks simple and straight forward more please !

are you serious ? over 8 years of losing tens of thousand, you are still at it ??? if i were you i would have given up long time ago.

i only lost in my first year. last two years constant profit.

sorry but i really dont get it. Can u digress further

Failed Trade:
In Correct Analysis:
Daily:
http://clip2net.com/clip/m0/1357885824-clip-21kb.png

4HR:
http://clip2net.com/clip/m0/1357885915-clip-18kb.png

Correct Analysis:
http://clip2net.com/clip/m90706/1357...-clip-28kb.png

Trade Analysis: GBPUSD

1. Trend Studied : Weekly Up

2. Band Extreme Studied - Previous price behave on previous band extremes?
Overshoot: Does price overshoot on earlier band extremes? YES
Outer Reversal: Does price reversal earlier only from the outer Band? YES

3.Resistence and Support Study
Weekly Extreme Buy? Yes
Double Pin Support? Yes

4. Price Action Studied (4hr or daily)
Bullish Pin (from PA notes 1-6)? YES 4HR
Bullish False Break? YES (Previous swing)

5. Risk Management Studied - First Trouble Areas (noticed?)
FTA Range - 1.6170
FTA Below 1: 1 Y- Note: please do not enter the trade instead enter on the next signal after FTA.

5. Trigger : Enter Trade with 1:1 or 1:2 based on First Trouble Areas.
1:1 Possible max 40 pips to up side to 1.6170
But considering weekend will wait and trigger next week Long above resistence(1.6175) based on 1HR PA

http://clip2net.com/clip/m90706/1357...-clip-36kb.png

Trade Analysis: EURUSD
1. Trend Studied Weekly - Up

2. Band Extreme Studied - Previous price behaviour on band extremes
Overshoot: Does price overshoot on earlier band extremes? YES
Outer Reversal: Does price reversal earlier only from the outer Band? YES

3. Resistence and Support Study (Nothing Intresting here)
Weekly Extreme Sell? No
Weekly Extreme Buy? No
Double Pin Support? No
Double Pin Resistence? No
Support: 1.3300

4. Price Action Studied (4hr or daily)
Bullish Pin (from PA notes 1-6)? Yes but not on support 1.33

5. Risk Management Studied - First Trouble Areas (noticed?)
FTA Range - 1.3382
FTA Below 1: 1 YES- Note: please do not enter the trade instead enter on the next signal after FTA.

6. Trigger
Enter Trade with 1:1 or 1:2 based on First Trouble Areas.
1:1 Possible max 40 pips to up side to 1.3382
But considering weekend will wait and trigger next week Long with a 1HR PA around 1.3300

http://clip2net.com/clip/m90706/1357...-clip-33kb.png

Trade Analysis: AUDUSD
1. Trend Study (HH/HL or LH/LL or Side) : Weekly - Up
2. Band Extreme Study - How Previous price reacts on band extremes?
Mixed Reversalrice Reversal on Inner and out Band previously? YES from both inner and outer but from Inner when on COP occurs

3. Resistence and Support Study:
Double Pin Support? YES on 1.05330 - 1.05335

4. Price Action Studied (4hr or daily)
No PA YET YES

5. Risk Management Studied - First Trouble Areas (noticed?)
FTA Range - 1.05775
FTA Below 1: 1 (Y/N) - Note: please do not enter the trade instead enter on the next signal after FTA.

6. Trigger
Enter Trade with 1:1 or 1:2 based on First Trouble Areas.
1:1 Possible max 40 pips to up side to 1.05775
But considering weekend will wait and trigger next week Long with a 1HR PA around 1.05775

http://clip2net.com/clip/m90706/1357...-clip-34kb.png

Trade Analysis: NZDUSD
1. Trend Study (HH/HL or LH/LL or Side) : Weekly Up

2. Band Extreme Studied - Previous price behaviour on band extremes
Overshoot: Does price overshoot on earlier band extremes? Yes
Outer Reversal: Does price reversal earlier from only the outer Band? YES

3. Resistence and Support Study
Double Pin Support? YES
Dynamic Support/resistence:YES

4. Price Action Studied (4hr or daily)
No PA Yet? Yes

5. Risk Management Studied - First Trouble Areas (noticed?)
FTA Range - 0.8477

6. Trigger
Enter Trade with 1:1 or 1:2 based on First Trouble Areas.
But considering weekend will wait and trigger next week Long with a 1HR PA around 0.8350

http://clip2net.com/clip/m90706/1357...-clip-32kb.png

Trade Analysis: USDCHF
1. Trend Study (HH/HL or LH/LL or Side) own

2. Band Extreme Studied - Previous price behaviour on band extremes
Overshoot: Does price overshoot on earlier band extremes? YES
Inner/Outer Reversalrice Reversal on Inner and out Band previously? YES (Inner on change of polarity)

3. Resistence and Support Study
Double Pin Resistence? Yes 0.9177

4. Price Action Studied (4hr or daily)
No PA Yet? Yes, waiting based on 1HR

http://clip2net.com/clip/m90706/1357...-clip-20kb.png
5. Risk Management Studied - First Trouble Areas (noticed?)
FTA Range - 0.9075-0.9082
FTA Below 1: 1 (Y/N) - Note: please do not enter the trade instead enter on the next signal after FTA.

6. Trigger
Will trigger Short next week based on PA

Trade Analysis: USDCAD
1. Trend Study (HH/HL or LH/LL or Side) : DOWN

2. Band Extreme Studied - Previous price behaviour on band extremes
Overshoot: Does price overshoot on earlier band extremes? YES
Inner/Outer Reversalrice Reversal on Inner and out Band previously? YES (Inner on change of polarity)

3. Resistence and Support Study
Close to Weekly Channel Extreme Sell? No
Close to Weekly Channel Extreme Buy? NO
Double Pin Support? YES = 0.98257
Dynamic Support/resistence: YES rejecting 21/8 ema

4. Price Action Studied (4hr or daily)
Bullish Pin (from PA notes 1-6)? Y/N
Bearish Pin((from PA notes 1-6)? Y/N
Bullish False Break? Y/N
Bearish False Break? Y/N
No PA Yet?

5. Risk Management Studied - First Trouble Areas (noticed?)
FTA Range - 0.9825 and then 0.9800

6. Trigger: Enter with risk/reward 1:2
Stop Loss:
Take Profit: 0.9825
Risk:Reward:
Comments: Will trigger short based on PA next week. I dont like the bounce as a buy trigger as it is not in the channel extreme.
and this currency exhibits extreme overshoots and not even close to inner band
http://clip2net.com/clip/m90706/1357...-clip-37kb.png

Adler,

How is this system working for you? Interested to know the profit/loss over a fixed period.

Take my hat off to you, there are many ways to trade profitably and even more ways to lose but this system is still too complicated for my taste although I am not saying it is not successful.
I started simple, I mean really simple, did well for a year then started overthinking and started losing so thought some more and lost some more.

Now I keep it back to basics, really simple, trends, volume and momentum and the rest is a few basic indicators and gut instinct from watching the price movement over a period of time. Works for me and I know it's not the only way but I enjoy my trading now.

Just thought I would share another way as I have also looked for that silver bullet you mention, for me very day the market is different, every day a new strategy.

Cheers

Hello Friend

Thanks for your time to share your thoughts on this.

For me this is most simple format to understand the overall picture of the currency.

I have also provided in the front page with an analysis template for each currency to tune your mind to what to expect in a chart.

Trendline - Horizontal lines -Price Action -currency behaviour on price extremes - risk management - Most important no indicators

Can you tell me what you find is difficult in the system? Would help me to clarify much better..

AUDJPY Overall Picture
Analysis will follow:
http://clip2net.com/clip/m90706/1358...-clip-39kb.png

hi adler

it would be much clear if you will add some charts.

Charts added previously around 15, please take a Look. I dint understand what u want me to show in the charts?

Trade Analysis:GBPJPY
1. Trend Study (HH/HL or LH/LL or Side) : UP Monthly

2. Band Extreme Studied - Previous price behaviour on band extremes
Overshoot: Does price overshoot on earlier band extremes? YES
Inner/Outer Reversalrice Reversal on Inner and out Band previously? YES on Change of Polarity

3. Resistence and Support Study
Double Pin Resistence? No
Dynamic Support/resistence:YES 8 EMA

4. Price Action Studied (4hr or daily)
Bullish False Break? YES - 4HR

5. Risk Management Studied - First Trouble Areas (noticed?)
FTA Range - 145

6. Trigger: Enter with risk/reward 1:1
Position: Long?
Entry: 144.10
Stop Loss:143
Take Profit:145
Risk:Reward:1:1
Comments:Break of Bullish Fakey to top Buy Order : 144.10

http://clip2net.com/clip/m90706/1358...-clip-36kb.png

http://clip2net.com/clip/m90706/1358...-clip-12kb.png