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H4 Power

  • #161
  • Apr 17, 2013 5:00am Apr 17, 2013 5:00am
also watching e/j 4h could end up with an engulfing.....
thankyou gregwilson
  • #162
  • Apr 17, 2013 5:01am Apr 17, 2013 5:01am
Quoting zxdtrader
thank you 60minuteman! yes, i agree it's a numbers game, probability game. just that to take small losses sometimes is frustrating.
yeah definitely frustrating, as humans we want to know we can master something and are not failures, but it's an emotional barrier we got to break, when you do everything gets easier...
tradewith60
  • #163
  • Apr 17, 2013 5:03am Apr 17, 2013 5:03am
Quoting njokie
no setup has formed in 15min yet,60minuteminuteman is the setup in 4h valid? {image}
think that one is kind of stretching it a tad too far, i would have to say no on that one... that very big bar definitely closes under lots of h4 sr and has plenty of momentum...
tradewith60
  • #164
  • Apr 17, 2013 5:21am Apr 17, 2013 5:21am
Quoting 60minuteman
no stop out whatfx, once h4 closed down you would of switched to m15 for your entry and got in right at the tip top... see m15 chart, red line is h4 close {image}
Would you consider this 2-bar engulfer as a trigger as it closed below the 2 previous lows?
Attached Image
No greed. No fear. Just maths.
  • #165
  • Apr 17, 2013 5:25am Apr 17, 2013 5:25am
Quoting PipMeUp
Would you consider this 2-bar engulfer as a trigger as it closed below the 2 previous lows? {image}
yes.... but H4 had not closed at that point to validate a short trade... that happened down at the red line below
tradewith60
  • #166
  • Apr 17, 2013 5:46am Apr 17, 2013 5:46am
Quoting njokie
watching how the 4h e/u will close down so we can look for a short in 15min....this is so interesting.... {image}
yes indeed h4 eu may be a bearish engulf....

that brings me to my next point:


60minute

what happens if there is an opposite engulf on another time frame ? for example we see the current h4 eurusd closing as a bearish engulf. but the daily candle is actually a bullish engulf. so which way to trade ?

what is it about h4 that attracted you, why not daily or h1 ?
  • #167
  • Apr 17, 2013 5:59am Apr 17, 2013 5:59am
Quoting whatfx
yes indeed h4 eu may be a bearish engulf.... that brings me to my next point: 60minute what happens if there is an opposite engulf on another time frame ? for example we see the current h4 eurusd closing as a bearish engulf. but the daily candle is actually a bullish engulf. so which way to trade ? what is it about h4 that attracted you, why not daily or h1 ?
If h4 engulfed against daily engulf I would treat it as countertrend and only target the next daily s/r line because it is more than likely a retrace move... and maybe that would make the trade not worth the risk...

I like h4 because it represents half of a trading session, I get enough opportunities to not get bored, but I dont get so many that things can go horribly wrong.
I have also had a few health issues not helped by being stressed out looking at charts all day, h4 i can go and get some exercise or relax and watch a movie... there's a lot to be said for NOT watching your trades.

Daily engulf dropping to H1 for entry works just as well allowing you to watch more instruments.

H1 also works but you need to take a bit more care to only take entries that are happening at the extremes, you also need to look more closely at the higher tf trend.



**** you dont HAVE to take every valid set up, BUT, if you find yourself leaving lots then you're probably over-thinking and over analyzing.... a period of marking every set up and noting win rate, reward/risk results etc should make it clear.
tradewith60
  • #168
  • Apr 17, 2013 6:15am Apr 17, 2013 6:15am
Quoting 60minuteman
If h4 engulfed against daily engulf I would treat it as countertrend and only target the next daily s/r line because it is more than likely a retrace move... and maybe that would make the trade not worth the risk... I like h4 because it represents half of a trading session, I get enough opportunities to not get bored, but I dont get so many that things can go horribly wrong. I have also had a few health issues not helped by being stressed out looking at charts all day, h4 i can go and get some exercise or relax and watch a movie... there's a lot...
thenx 60minute u said that if 4h engulfing is against daily you would target next daily support line from the e/u chart i have attached would the level i have shown be the next s/r line?since swing highs and lows of 4h are daily and weekly s/r line?meaning tp would be 1.30211 level?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh42.png Size: 31 KB
thankyou gregwilson
  • #169
  • Apr 17, 2013 6:25am Apr 17, 2013 6:25am
Quoting njokie
thenx 60minute u said that if 4h engulfing is against daily you would target next daily support line from the e/u chart i have attached would the level i have shown be the next s/r line?since swing highs and lows of 4h are daily and weekly s/r line?meaning tp would be 1.30211 level? {image}

there's a post on this site called s/r strike zones, that will explain how i draw my lines https://60minuteman.jux.com/
tradewith60
  • #170
  • Apr 17, 2013 6:31am Apr 17, 2013 6:31am
EU in Daily S/R Zone... Good zone to look for longs due to prior daily engulf
Attached Image

I'll add to my EU position if the market gives valid signals , if not I'll stick with the single position I have no more adventures trading for me today
  • #171
  • Apr 17, 2013 6:33am Apr 17, 2013 6:33am
Quoting 60minuteman
there's a post on this site called s/r strike zones, that will explain how i draw my lines https://60minuteman.jux.com/

thenx for the link am checking it out av never been interested in a sys like this one may be theres light after all those years.....
thankyou gregwilson
  • #172
  • Apr 17, 2013 6:51am Apr 17, 2013 6:51am
Quoting Eiman
EU in Daily S/R Zone... Good zone to look for longs due to prior daily engulf {image} I'll add to my EU position if the market gives valid signals , if not I'll stick with the single position I have no more adventures trading for me today
yeah breakout retest on daily, and 11 of the last 14 days closed up..
tradewith60
  • #173
  • Apr 17, 2013 7:38am Apr 17, 2013 7:38am
+80 on Brent short, 2.5 times risk, aiming for 5R and retest of lows, will take my risk off now
tradewith60
  • #174
  • Apr 17, 2013 7:41am Apr 17, 2013 7:41am
Quoting 60minuteman
+80 on Brent short, 2.5 times risk, aiming for 5R and retest of lows, will take my risk off now
which broker has brent?am on axi trader no brent no gold
thankyou gregwilson
  • #175
  • Apr 17, 2013 7:48am Apr 17, 2013 7:48am
Quoting 60minuteman
+80 on Brent short, 2.5 times risk, aiming for 5R and retest of lows, will take my risk off now
nice
  • #176
  • Apr 17, 2013 8:10am Apr 17, 2013 8:10am
get ready for the m15 bearish engulf on eu.

there seems to be support at around 13125, so be careful....

i think if price moves to around 160-167, we could see another dip.

i have already made +60 pips scalping short trades from that level.


  • #177
  • Edited 8:26am Apr 17, 2013 8:12am | Edited 8:26am
Quoting njokie
which broker has brent?am on axi trader no brent no gold
im on GKFX

maybe Alpari (although i would never trade live with them)
tradewith60
  • #178
  • Apr 17, 2013 8:36am Apr 17, 2013 8:36am
hi 60 , great thread as always ...

have you read crabel toby book?
Iam just A pips on the rode :nerd:
  • #179
  • Apr 17, 2013 8:52am Apr 17, 2013 8:52am
Quoting -er-
hi 60 , great thread as always ... have you read crabel toby book?
no... trader?... let me have a search... and cheers!
tradewith60
  • #180
  • Apr 17, 2013 9:00am Apr 17, 2013 9:00am
Quoting 60minuteman
no... trader?... let me have a search... and cheers!
let me know if you dont find it il send you a copy ( and yes great trader , he menage a billion dollar hedge fund and didnt heve a losing year from 1990 to 2002 )
Iam just A pips on the rode :nerd:
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