4 hour trading entry and exit almost to the pip

It is confusing. If you can post chart with detils and explanation would be good...So far only you post charts because noone understand what you are doing...Maybe you really dont want to tell?...I don't know.

ok

Agree with you. My buy limit is 1.2650.Monthly support level. Tho, I believe we might see retrace to 1.33 before hitting down again. Let see

Heres the chart...

Wider perspective...

I also used similar method, draw line or square on H4 then used H1 for entry. I also found that drawing using candle open and close price is somehow more accurate than high/low, with exception: if the tail is a bit longer I use the middle price or by looking at H1 for more precise placement by drawing on H4 then go to H1 and readjust the line/square.

The difference is that I won't just enter at the touch of those line. If the momentum is big, a long candle on H1 or M15, the chances that those level won't hold is bigger so I will wait for a shorter level or wait for the next level. I also found that the triangle area of top/bottom pose as strong support and demand area which often holds. I feel more comfortable to enter at those area, and often used them as target. Look at the chart to identify the "triangle area" I mentioned, I drew squares at those "triangle". Btw, the yellow line is drawn on D1 you could ignore it as this discussion is about H4 TF.


Blue arrow is short entry, red arrow is short entry, and red cross is an international humanitarian organization(LOL!). Stars are my target.

I know that I missed many good entry by not entering trade at long candle. But if the trade is against me, at least the price will move slowly and I could cut the position with smaller loss. If you enter on a long candle, it is often if you are wrong the prices move FAST against you!

PS: If you enter a good supply/demand or support/resistance level or whatever. The price should move fast in your favor as supply or demand pushed it, if its linger too long in those area it is an indication that those supply/demand area are weak. If this the case run fast, LOL! Do not be wish washy if this is the situation, your risk will increase as the trade is against you or the price just stay there.

Disclosure: I do not trade on H4, but mainly(almost always actually, LOL) at H1, but I do looking for supply/demand area in H4 TF. The chart shows how I trade, not how the thread starter trades. I just give my opinion and propose a way to refine the method presented as it is similar to mine. In no way I do compare the two method as every method has its own edge and weakness. Traders should use the method that he/she comfortable with, but should seek his/her own way and improve it by for example evaluating and or adapting portion of information avaliable such as presented here by the TS and other member who replied. TS and other member could not held responsible if the result is behind the reader expectation.

Hutrader; Do you look at other eur pairs to see if they are acting in the same way prior to entry? Do you enter on the 4 hr chart or lower timeframes. I am not fully understanding your exact method of entry and location or S&R lines. Thanks.

First of all sorry for being absent but with the chop in EU it just didn't make sense anymore to trade. Here is what I see.
In EU there is a hidden gap at 1.3074. Today's action was pretty crazy but that's usual when central bankers speak. And we had 3 of em. Neverthless irrelevant anyway. I am happy that EU bounced and took only 30 pips with it. Not complaining, still better than nothing. Anyway now back to the real stuff, the chart it self. As I mentioned, hidden gap in EU @ 1.3074 to be exact. This is still from the Cyprus crap from 3 weeks ago.
EU shoot up but I am not going to chase it. Perhaps I will go long small position but I rather take a normal one lower. Way Way lower. I was thinking around 1.2855 area. I expect to see support from 1.2857 down to 1.2841. So I place two orders there with the regular stop and aim for that hidden gap at least. 1.3072 will be my TP for one of the positions. Will keep the stop as usual.

So, here are the levels to watch.

Resistance.

1.2959
1.2984

Support
1.2867
1.2857
1.2849
1.2819


And no, I usually don't look at other pairs. One day they go hand in hand one day they go opposite or do nothing etc.

Hello, and good day.

I see this, untill price closes above descending TL (daily closed below BRN which is not so bullish sign for me)

Interesting, looks pretty reliable your view.

Chart update for those who are interested.

Update with explenation.

Amazing.
Just look at the old lines.

By the way, I don't think EU wants to go down.

hey,

what is the point of showing the same pic, one month later?

am i missing something?

your first post held lot of promise but from second post onwards the thread seems to have lost direction and things are not clear. keep it simple and explain one currency at a time and in more details , if possible a video.

Sorry, that was a mistake. but I still don't see Euro coming down.

1.3121 is really good support now.

Dear hutrader, you can share MT4 HLC Bar Indexes? Thank you!

The basic concept of this strategy is a sound one. Unfortunately, not many traders will take notice of these types because it doesn't come with lots of indicators on charts, neither is it on the lower, action-packed time frames.