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H4 Power

  • #201
  • Apr 17, 2013 5:46pm Apr 17, 2013 5:46pm
Quoting 60minuteman
BRENT H4 breaking the lows now +212 7R trade... gotta love those reward figures... {image}
ok 60mm and you folks.

eu long engulf on the daily did not hold. we now have a short engulf on the daily.

so i guess, no more longs ? or is it. the short engulf is on top of a good support, so price could bounce from here. or if support breaks then down it goes. best thing is to wait for a bullish engulf on 4 hour before taking any longs. unless you wanna be adventorous and trade long on the support.
  • #202
  • Apr 17, 2013 7:50pm Apr 17, 2013 7:50pm
Quoting 60minuteman
scroll down


clicking clicking everywhere

got it now
  • #203
  • Apr 17, 2013 11:02pm Apr 17, 2013 11:02pm
Is this engulfing in H4 eurusd now ?
Attached Image (click to enlarge)
Click to Enlarge Name: engulf.png Size: 40 KB
  • #204
  • Apr 17, 2013 11:23pm Apr 17, 2013 11:23pm
we can only learn through practise
Brent has a bullish engulfing in 4h but its below the Ma's 60minute how do u go about such a trade?do we ignore the 4h setup since price is below the Ma's?
Attached Image (click to enlarge)
Click to Enlarge Name: brenth4.png Size: 28 KB
thankyou gregwilson
  • #205
  • Apr 17, 2013 11:25pm Apr 17, 2013 11:25pm
euro/usd has a bearish engulfing in daily so we would look for a trade in 1h
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily18th.png Size: 30 KB
thankyou gregwilson
  • #206
  • Apr 17, 2013 11:47pm Apr 17, 2013 11:47pm
yes it's bearish engulfing in daily for eurusd but it's 2 bar engulfing in h4 ... i think for intraday we should look at h4 and enter at m15 as what 60minman always do
  • #207
  • Apr 18, 2013 1:22am Apr 18, 2013 1:22am
Quoting Jasper Ng
yes it's bearish engulfing in daily for eurusd but it's 2 bar engulfing in h4 ... i think for intraday we should look at h4 and enter at m15 as what 60minman always do
Jasper would u be in a position to upload ur 4h e/u that is showing a 2 bar engulf ? myne doesnt show a 2 bar engulf or may be our charts are diff
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh418th.png Size: 35 KB
thankyou gregwilson
  • #208
  • Apr 18, 2013 1:34am Apr 18, 2013 1:34am
Sorry i made a mistake.

here's my latest h4 and m15 chart and why i entered a buy. Please advise if it's correct analysis

H4 engulfing (bullish).

Attached Image (click to enlarge)
Click to Enlarge Name: engulf1.png Size: 37 KB




Waited signal in M15 which i got. and it closes above H4 closing. so I entered from there.

Attached Image (click to enlarge)
Click to Enlarge Name: engulf2.png Size: 38 KB


Question is where should i put my sl . and where would be the potential TP? is it the the daily S/r which i indicated there ?
Currently im putting my tp at pivot .. but it will just be 1 R at most. Please advice.
  • #209
  • Apr 18, 2013 1:44am Apr 18, 2013 1:44am
Quoting Jasper Ng
Sorry i made a mistake. here's my latest h4 and m15 chart and why i entered a buy. Please advise if it's correct analysis H4 engulfing (bullish). {image} Waited signal in M15 which i got. and it closes above H4 closing. so I entered from there. {image} Question is where should i put my sl . and where would be the potential TP? is it the the daily S/r which i indicated there ? Currently im putting my tp at pivot .. but it will just be 1 R at most. Please advice.
Thenx for resposnding we are learning am also learning and its good we post charts am also in a buy for the sl the reason for entering in 15minutes its to minimise risk and tp shd be daily and weekly s/r if countertrend
am trying to read again from page 1 so i can understand clearly the system lets wait for 60minute to answer the question of take profit and sl though i guess hes covered it in earlier pages
thankyou gregwilson
  • #210
  • Apr 18, 2013 1:55am Apr 18, 2013 1:55am
I have noted what 60minute is calling a 2bar is what i was taught to be evening and morning star for those of us that used to trade with candle sticks the good things with 60minute sys is that it gives u an opportunity to get trades almost daily since we are consedering engulf of close and open
thankyou gregwilson
  • #211
  • Apr 18, 2013 1:57am Apr 18, 2013 1:57am
yes, 60 minutesman engulfing is as long as open and close is within the next bar. and outside bar is where the entire bar is within the next bar.
  • #212
  • Apr 18, 2013 2:04am Apr 18, 2013 2:04am
Quoting njokie
we can only learn through practise Brent has a bullish engulfing in 4h but its below the Ma's 60minute how do u go about such a trade?do we ignore the 4h setup since price is below the Ma's? {image}
it's down to you and how you want to trade, it's clearly countertrend, and a strong trend too, so less chance of it winning, less chance of it being a big win.... do you want to take these trades or are you going to wait for better positioned trades..... thats a personal choice only you can make.
tradewith60
  • #213
  • Apr 18, 2013 2:27am Apr 18, 2013 2:27am
usd yen..

H4 showing 2 engulfing. I choose to use second one as the SL is smaller.
Attached Image (click to enlarge)
Click to Enlarge Name: yen_engulfing.png Size: 41 KB


M15 chart
Attached Image (click to enlarge)
Click to Enlarge Name: yen_engulfing2.png Size: 52 KB


Please advise.
  • #214
  • Apr 18, 2013 2:32am Apr 18, 2013 2:32am
Quoting 60minuteman
it's down to you and how you want to trade, it's clearly countertrend, and a strong trend too, so less chance of it winning, less chance of it being a big win.... do you want to take these trades or are you going to wait for better positioned trades..... thats a personal choice only you can make.

am going to wait for better positioned trades
thankyou gregwilson
  • #215
  • Apr 18, 2013 2:36am Apr 18, 2013 2:36am
Quoting njokie
am going to wait for better positioned trades

ok, but just to be clear, one is not better than the other, there are pro's and cons to both approaches.

Remember its the risk to reward that is most important with these trades, win rate really is just a number you can deal with...
tradewith60
  • #216
  • Apr 18, 2013 2:43am Apr 18, 2013 2:43am
60minuteman,

I do realise candle is different depending when your brokers open. Thus do we just stick to our own broker chart ?

For example now,

Broker 1
Aud
Attached Image (click to enlarge)
Click to Enlarge Name: audintegral.png Size: 45 KB


Broker 2
Attached Image (click to enlarge)
Click to Enlarge Name: audaxi.png Size: 37 KB
  • #217
  • Apr 18, 2013 2:43am Apr 18, 2013 2:43am
Quoting Jasper Ng
usd yen.. H4 showing 2 engulfing. I choose to use second one as the SL is smaller. {image} M15 chart {image} Please advise.
look at the h4's... would you say its a strong uptrend or a strong down trend right now?

If you want to trade it, take a low risk entry (m15) worse case scenario you lose 10-20 pips.....

On a side note, I can't see any reason for trading uj unless you like trading ranges, generally they're both considered safe haven currencies and mostly you're trading two similarly matched instruments (again just personal opinion). You can get similar set ups on EJ where the R/R is way greater.
tradewith60
  • #218
  • Apr 18, 2013 2:47am Apr 18, 2013 2:47am
Quoting Jasper Ng
60minuteman, I do realise candle is different depending when your brokers open. Thus do we just stick to our own broker chart ? For example now, Broker 1 Aud {image} Broker 2 {image}
We are trying to get big moves that last all day, but we only expect to be right 50% of the time....

If price is going to move in one direction for a whole trading session then all brokers will eventually give a signal.

Mediocre win rate..... High risk to reward... that's the plan.

Over time all brokers will have around about the same results. YOUR results will depend on your ability to ride the winners for as long as possible
tradewith60
  • #219
  • Apr 18, 2013 2:48am Apr 18, 2013 2:48am
Quoting 60minuteman
look at the h4's... would you say its a strong uptrend or a strong down trend right now? If you want to trade it, take a low risk entry (m15) worse case scenario you lose 10-20 pips..... On a side note, I can't see any reason for trading uj unless you like trading ranges, generally they're both considered safe haven currencies and mostly you're trading two similarly matched instruments (again just personal opinion). You can get similar set ups on EJ where the R/R is way greater.
in h4 usd yen looks to me still strong uptrend. is my analysis following your system ?

Can you look at my eur usd post http://www.forexfactory.com/showthread.php?p=6615814#post661581?

Also, in the usd yen, would you enter at the low of the engulfing h4 when you see there's engulfing in m15 ? or do you usually enter above the closing if h4 engulfing in m15 ?

as for SL, do you put it at the SL will be the low of the h4 engulfing or the low of m15 engulfing ?
  • #220
  • Apr 18, 2013 2:54am Apr 18, 2013 2:54am
Quoting Jasper Ng
in h4 usd yen looks to me still strong uptrend. is my analysis following your system ? Can you look at my eur usd post http://www.forexfactory.com/showthread.php?p=6615814#post661581? Also, in the usd yen, would you enter at the low of the engulfing h4 when you see there's engulfing in m15 ? or do you usually enter above the closing if h4 engulfing in m15 ? as for SL, do you put it at the SL will be the low of the h4 engulfing or the low of m15 engulfing ?
There's no right or wrong way to enter with the m15, we're just using it to try and get a better value entry and a better reward ratio. If you're countertrend then the retraces on h4 will be much deeper, if you're with trend and momentum is strong on h4 then you will get m15 just breaking out straight away. These entries will cost you little in relation to your rewards so you can have more than 1 bite at the cherry.

Stop loss you have 2 choices, put it below/over the most recent m15 swing low/high or put it over/below the h4 set up bar... one has a lower win rate but higher reward, the other vice versa... again its a personal choice, i tend to go for over m15 but if i have to go out and really want to stay in the move no matter what, i may put it over h4...
tradewith60
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