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H4 Power

  • #1
  • First Post: Edited May 11, 2013 11:55am Apr 12, 2013 10:28am | Edited May 11, 2013 11:55am
H4 price action trading only
tradewith60
  • #2
  • Apr 12, 2013 10:34am Apr 12, 2013 10:34am
Gold weekly & h4 charts today
Attached Image(s) (click to enlarge)
Click to Enlarge Name: WEEK.png Size: 67 KB
Click to Enlarge Name: H4.png Size: 35 KB
tradewith60
  • #3
  • Apr 12, 2013 10:38am Apr 12, 2013 10:38am
Brent futures overnight short and h4 engulf this morning, weekloy s/r for target
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-04-12 at 16.35.26.png Size: 46 KB
tradewith60
  • #4
  • Apr 12, 2013 10:56am Apr 12, 2013 10:56am
These are the basic h4 price action triggers I will trade.

Gold H4 chart this month
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-04-12 at 16.49.39.png Size: 154 KB
tradewith60
  • #5
  • Apr 12, 2013 11:00am Apr 12, 2013 11:00am
One of three skills is needed to make this style of trading pay.

1. The ability to trail a stop on every trade with absolutely rigid discipline, ensuring the real big moves you ride for the maximum gain.

2. The ability to read multi tf's and always be in line with the higher tf trend ensuring a higher win rate.

3. The ability to use the lower tf's to time your entry and reduce your risk dramatically, that along with the ability to take 3 or 4 losses or a lower win rate.
tradewith60
  • #6
  • Apr 12, 2013 11:32am Apr 12, 2013 11:32am
Some simple price action truths that you need to understand and believe.

For price to turn on any timeframe there must be an engulf, sometimes it may take more than one bar to achieve it, but direction cannot change with out it.

If price engulfs then it will go to a higher timeframe s/r.
tradewith60
  • #7
  • Apr 12, 2013 12:24pm Apr 12, 2013 12:24pm
Quoting 60minuteman
These are the basic h4 price action triggers I will trade. Gold H4 chart this month {image}
60minuteman, Kindly assist me with the price indictor on the chart above. Thanks.
  • #8
  • Apr 12, 2013 5:07pm Apr 12, 2013 5:07pm
Quoting dare123
60minuteman, Kindly assist me with the price indictor on the chart above. Thanks.
not sure what you mean Dare?
tradewith60
  • #9
  • Apr 12, 2013 5:10pm Apr 12, 2013 5:10pm
Quoting 60minuteman
not sure what you mean Dare?
After all your valuable information about support and resistance and price action he wants to know what moving averages are on your chart.
  • #10
  • Apr 12, 2013 5:14pm Apr 12, 2013 5:14pm
I like this. Pretty much the way I mainly trade except I look for pinbars too. Is there a reason why you don't trade them?

This is one pair I'm currently watching for next weeks open
Attached Image (click to enlarge)
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  • #11
  • Apr 12, 2013 5:27pm Apr 12, 2013 5:27pm
Quoting biDc
I like this. Pretty much the way I mainly trade except I look for pinbars too. Is there a reason why you don't trade them?
I am looking for a change in control, I want to see the pattern of open and closes switch.

Here's a h4 chart with just the opens and closes, see what always happens when direction changes with regards the pattern opens and closes are making...... A pin bar doesn't give you that information, it is just confirming the existence of s/r at a price.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-04-12 at 23.23.00.png Size: 81 KB
tradewith60
  • #12
  • Apr 12, 2013 6:19pm Apr 12, 2013 6:19pm
Quoting 60minuteman
These are the basic h4 price action triggers I will trade. Gold H4 chart this month {image}

hi 60minute

glad to see you again. how is your buy sell line trading going ? do you still trade that ? was an excellent thread that one.

on the above chart, some questions.

correct me if iam wrong , my knowledge of an engulfing bar is one that completely engulfs the previous bar incuding its high and low. in your first circle and last two circles, this has not happened. the low of the previous bar not engulfed.

on the 8th circle is there not an inside bar (next to the red candle) before the outside bar ?

on the 9th circle there is a red engulfing bar before the green engulfing bar so would you not have traded the the red bar first, which would have gone against you ?


good luck with the thread.
  • #13
  • Apr 12, 2013 6:21pm Apr 12, 2013 6:21pm
Quoting 60minuteman
not sure what you mean Dare?

for a moment, i thought you were saying 'what you mean DEAR ' ?
  • #14
  • Apr 12, 2013 6:42pm Apr 12, 2013 6:42pm
Quoting whatfx
hi 60minute glad to see you again. how is your buy sell line trading going ? do you still trade that ? was an excellent thread that one. on the above chart, some questions. correct me if iam wrong , my knowledge of an engulfing bar is one that completely engulfs the previous bar incuding its high and low. in your first circle and last two circles, this has not happened. the low of the previous bar not engulfed. on the 8th circle is there not an inside bar (next to the red candle) before the outside bar ? on the 9th circle there is a red engulfing...
Hi Whatfx, nice to see you again...

1. Yes I do still trade buy sell line. Thats the good ol' 50sma on my chart... love it!

2. An engulfing bar just needs to engulf the previous open and close, If the high and low are engulfed we call that an outside bar.

3. Yes prior to the outside bar there was an inside bar set up to go short, but price never traded below the low to take the trade... For inside bar trades i am looking for the breakout.

4. Yes, thats why i circled 3 bars there was a short engulf trade which failed followed by a long engulf that won.

For now im just touching on the basic price action patterns, I will show some entry and exit techniques next week to reduce risk and increase profit.
tradewith60
  • #15
  • Apr 12, 2013 7:04pm Apr 12, 2013 7:04pm
Here is an example of what I call a 2 bar engulf, It is just as reliable as a regular engulf and in terms of price action and s/r it means exactly the same thing..

Focus on the pattern of opens and closes.

A 2 bar engulf on H4 means price will move to a daily s/r before it stops.... engulfs are telling you to look to the higher tf s/r, that is our opportunity to trade and make profit.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-04-13 at 00.51.19.png Size: 53 KB
tradewith60
  • #16
  • Apr 12, 2013 7:05pm Apr 12, 2013 7:05pm
Quoting 60minuteman
hi whatfx, nice to see you again... 1. Yes i do still trade buy sell line. Thats the good ol' 50sma on my chart... Love it! 2. An engulfing bar just needs to engulf the previous open and close, if the high and low are engulfed we call that an outside bar. 3. Yes prior to the outside bar there was an inside bar set up to go short, but price never traded below the low to take the trade... For inside bar trades i am looking for the breakout. 4. Yes, thats why i circled 3 bars there was a short engulf trade which failed followed by a long engulf that...
yes you are correct.

When do you exit and take profit ?
  • #17
  • Apr 12, 2013 7:15pm Apr 12, 2013 7:15pm
EU examples from the last few weeks
Attached Image(s) (click to enlarge)
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tradewith60
  • #18
  • Apr 12, 2013 7:21pm Apr 12, 2013 7:21pm
Quoting whatfx
yes you are correct. When do you exit and take profit ?
With trend:
1. trail behind the last closed h4

2. next weekly s/r line

3. hedge at the next s/r line until price gives me more information



Countertrend:
1.Tp at next daily or weekly s/r
tradewith60
  • #19
  • Apr 12, 2013 7:38pm Apr 12, 2013 7:38pm
E/J engulf on daily and H4 time frame
Attached Image(s) (click to enlarge)
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  • #20
  • Apr 12, 2013 8:10pm Apr 12, 2013 8:10pm
Quoting biDc
E/J engulf on daily and H4 time frame {image} {image}
nice EJ has just been a dream since Christmas
tradewith60
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