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H4 Power

  • #281
  • Apr 19, 2013 5:00am Apr 19, 2013 5:00am
same pattern on brent, h4 failed to trend down from new daily high/s/r then switched and closed over invalidating the top
Attached Image (click to enlarge)
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tradewith60
  • #282
  • Apr 19, 2013 5:41am Apr 19, 2013 5:41am
Quoting 60minuteman
EJ H4 {image}
Hi,

Is h4 S/r equals to the high and low of h4 candle excluding the swing (swing is actually daily s/r) ?

Is that the H4 s/r you mentioned in the description below ?

Attached Image (click to enlarge)
Click to Enlarge Name: ej_1_001.png Size: 100 KB
  • #283
  • Apr 19, 2013 6:03am Apr 19, 2013 6:03am
Quoting Jasper Ng
Hi, Is h4 S/r equals to the high and low of h4 candle excluding the swing (swing is actually daily s/r) ? Is that the H4 s/r you mentioned in the description below ? {image}
indeed, highs and lows are the same timeframe s/r.... opens and closes can be too, but in general tend to be weaker.... each bar is a battle between high and low for that given time period, the open close will tell you who won that particular battle..
tradewith60
  • #284
  • Apr 19, 2013 6:14am Apr 19, 2013 6:14am
Hi 60minuteman,

I am using newyork close chart.My chart having 6 H4 candle. Do you watch all the 6 H4 candle? or do you observer any specific H4 candle out of this 6 h4 candle?

I have taken following trades based on H4 engulfing.I got very good R:R

AUDUSD engulfing bullish
AUDJPY engulfing bullish
NZDJPY outside bar
GBPAUD bearish engulfing
EURAUD bearish engulfing
GBPJPY bullish engulfing
gbpusd bullish engulfing

Regards,
Bedayan Chakrabarty.
  • #285
  • Apr 19, 2013 6:30am Apr 19, 2013 6:30am
Quoting bedayan
Hi 60minuteman, I am using newyork close chart.My chart having 6 H4 candle. Do you watch all the 6 H4 candle? or do you observer any specific H4 candle out of this 6 h4 candle? I have taken following trades based on H4 engulfing.I got very good R:R AUDUSD engulfing bullish AUDJPY engulfing bullish NZDJPY outside bar GBPAUD bearish engulfing EURAUD bearish engulfing GBPJPY bullish engulfing gbpusd bullish engulfing Regards, Bedayan Chakrabarty.
please consider sharing chart so everyone can learn please share your plan and how you come to the plan
  • #286
  • Apr 19, 2013 6:40am Apr 19, 2013 6:40am
BRENT H4 move today

H4 ENGULF LONG COUNTERTREND

M15 ENGULF ENTRY LONG

DAILY NEXT S/R FOR COUNTERTREND TP
Attached Image(s) (click to enlarge)
Click to Enlarge Name: H4.png Size: 43 KB
Click to Enlarge Name: M15.png Size: 38 KB
Click to Enlarge Name: DAILY.png Size: 20 KB
tradewith60
  • #287
  • Apr 19, 2013 6:44am Apr 19, 2013 6:44am
Quoting 60minuteman
BRENT H4 move today H4 ENGULF LONG COUNTERTREND M15 ENGULF ENTRY LONG DAILY NEXT S/R FOR COUNTERTREND TP {image} {image} {image}
very nice ! perfect example
  • #288
  • Apr 19, 2013 6:55am Apr 19, 2013 6:55am
let me try post todays trade on e/j........am having a challenge on tp levels 60minute pls correct me if am wrong
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurjpym152.png Size: 33 KB
Click to Enlarge Name: eurjpydaily3.png Size: 33 KB
thankyou gregwilson
  • #289
  • Apr 19, 2013 6:57am Apr 19, 2013 6:57am
60minute how do you put circles on a chart before posting.....i only know how to tyoe text and put lines lol
thankyou gregwilson
  • #290
  • Apr 19, 2013 7:00am Apr 19, 2013 7:00am
Quoting njokie
let me try post todays trade on e/j........am having a challenge on tp levels 60minute pls correct me if am wrong
This is the exact setup I was refering in a previous post
MT4/MT5 EAs/Indicators/Alerts coder
  • #291
  • Apr 19, 2013 7:16am Apr 19, 2013 7:16am
Quoting njokie
let me try post todays trade on e/j........am having a challenge on tp levels 60minute pls correct me if am wrong {image} {image} {image}
perfect trade... you got it mate....

only thing i would say is im leaning towards EJ perhaps being with trend?

in which case you can still watch daily levels, but I tend to shoot for weekly...

as a hint always look to see if daily is closing over s/r saying were going to the weekly line...Now I know ej is a bit muddled right now and I cant quite read it myself, but im feeling more long trend than short for now (imho)
tradewith60
  • #292
  • Apr 19, 2013 7:19am Apr 19, 2013 7:19am
Quoting 60minuteman
perfect trade... you got it mate.... only thing i would say is im leaning towards EJ perhaps being with trend? in which case you can still watch daily levels, but I tend to shoot for weekly... as a hint always look to see if daily is closing over s/r saying were going to the weekly line...Now I know ej is a bit muddled right now and I cant quite read it myself, but im feeling more long trend than short for now (imho)
cool thenx for the hint am looking foward to next weeks to practise more ...
thankyou gregwilson
  • #293
  • Apr 19, 2013 7:24am Apr 19, 2013 7:24am
Quoting 60minuteman
BRENT H4 move today H4 ENGULF LONG COUNTERTREND M15 ENGULF ENTRY LONG DAILY NEXT S/R FOR COUNTERTREND TP {image} {image} {image}
Never traded oil, nice one.

Exactly the same set up as I commented on a previous trade of yours. Might be CT to D but a genuine 4hr higher low engulfing close, a thing of beauty.

The other thing I'd mention on that chart. The reaction lower from the D 99.79 resistance level was so weak/small that the engulfing close has a great chance of success.
  • #294
  • Apr 19, 2013 7:32am Apr 19, 2013 7:32am
Quoting Vantage
Never traded oil, nice one. Exactly the same set up as I commented on a previous trade of yours. Might be CT to D but a genuine 4hr higher low engulfing close, a thing of beauty. The other thing I'd mention on that chart. The reaction lower from the D 99.79 resistance level was so weak/small that the engulfing close has a great chance of success.
yeah if price can't trend away from the level it will often turn and take it out
tradewith60
  • #295
  • Apr 19, 2013 7:35am Apr 19, 2013 7:35am
Quoting njokie
60minute how do you put circles on a chart before posting.....i only know how to tyoe text and put lines lol
There seems to be a error/bug in the latest MT4 Build. At least in my Alpari platform there is a problem.

Normally you go to: Insert -> Shapes -> Ellipse, and then in the properties you remove the mark on "Draw object as background"

But in the latest build it makes a trendline instead of a ellipse on my platform.
Anyway you can just use Paint or any other software....

This is not the correct thread or forum to talk about platform issues but because of the bug i guess a lot of people are scratching their head on this one so i reply to this question here anyway.

Arctic4x
  • #296
  • Apr 19, 2013 7:39am Apr 19, 2013 7:39am
Quoting Arctic4x
There seems to be a error/bug in the latest MT4 Build. At least in my Alpari platform there is a problem. Normally you go to: Insert -> Shapes -> Ellipse, and then in the properties you remove the mark on "Draw object as background" But in the latest build it makes a trendline instead of a ellipse on my platform. Anyway you can just use Paint or any other software.... This is not the correct thread or forum to talk about platform issues but because of the bug i guess a lot of people are scratching their head on this one so i reply to this question...
thenx for the response i dint know it was wrong to ask such a question here myne too draws a trendline instead of shape
thankyou gregwilson
  • #297
  • Apr 19, 2013 7:40am Apr 19, 2013 7:40am
Nice trades
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  • #298
  • Apr 19, 2013 7:58am Apr 19, 2013 7:58am
Doubt im gonna trade more this week, although if gold gives me the bird again im gonna smack her!

just want to leave a thought for the weekend,

If you believe what I have written about how price will move and how you can track it then it poses the obvious question, why not just go to h1 or m15 for your direction and get EVEN BIGGER R/R ????...

which on paper is totally logical and will work... But remember 1 H4 is half a trading session, pretty much every trader on the planet that is going to trade that session has had a chance to do so...

so, you have the added safety net of volume, big-money, banks, whatever you want to call it trading in the direction you are choosing to go, ALSO... if things go wrong on h4, how wrong can they go? there's only so many set ups possible in a day so it helps to keep you patient and calm...you will f**k up, you're human.

Just my opinion, and trust me I spent a whole year going up and down the timeframes trying variations of this, and the funny thing is, anything i found that would work on the lower tf's didn't really get you in any earlier or result in bigger gains..... again it may be different for you, but long term, if/when you're rich, do you want to have time to watch a movie, go for lunch, go for a swim in between working (trading) or do you still want to be sat in front of the computer every minute 10 years from now.
tradewith60
  • #299
  • Apr 19, 2013 8:09am Apr 19, 2013 8:09am
60minute your sys is soo cool i dint know ad finally get my aha moment in this thread but i thank God for leading me here
mentioning of Gold could end up as an engulfing this is gkfx platform
Attached Image (click to enlarge)
Click to Enlarge Name: goldh4.png Size: 28 KB
thankyou gregwilson
  • #300
  • Apr 19, 2013 8:16am Apr 19, 2013 8:16am
Quoting 60minuteman
BRENT H4 move today H4 ENGULF LONG COUNTERTREND M15 ENGULF ENTRY LONG DAILY NEXT S/R FOR COUNTERTREND TP {image} {image} {image}

why would you enter this long trade when daily s/r was near above it ? would you not have avoided this trade due to resistance at daily s/r and a likelihood price may not go above it and niot much room to make many pips ?
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