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H4 Power

  • #301
  • Apr 19, 2013 8:18am Apr 19, 2013 8:18am
Quoting whatfx
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 ?
Price had already tested the daily s/r directly above and h4 could not push down from it, so it wasnt the s/r to stop it,

The next daily s/r was about 76 pips and just over 2/1... I will take a 2/1 counter trend trade...

remember if price is going to change direction it has to engulf or close below the s/r... on h4 it couldn't do that from the daily s/r it paused at... so.... if it aint short, it's gotta be long (love that saying)
tradewith60
  • #302
  • Apr 19, 2013 8:25am Apr 19, 2013 8:25am
Good point 60minute.
I was obsess trading TF like 5M looking for quick pips and lots of adrenaline... the quality of life is crap. After you move to higher TF you need some kind of "detox", because after spending 16 hours a day sitting watching charts and doing 10/20 trades , it is hard to change your habits, to just check the charts every 4 Hours or so and hit the trigger maybe 1 , two trades or not trade at all.

Absolutely agree, I don't want to expend my whole day watching chart. There are better things to do for sure.
  • #303
  • Apr 19, 2013 8:53am Apr 19, 2013 8:53am
60 minuteman


not sure what you mean. the fact that daily resistance was tested and failed to break above. there was a possibilty it may fail to go above again on a second touch. so that would have been a trade to avoid. not to take a long trade. even though there was a bullish engulf just below the resistance.

are then saying that if price approaches resistance or support and there is an engulfing candle on h4, price is likely to break the resistance/support ? hence one should take the trade in that direction on a m15 engulf ?

i cant seem to find brent on my broker platform. wanted to check it out. the nearest i have come is ''light crude oil''. not sure if its the same thing ? but the spread on this is 4-6 pips !
  • #304
  • Apr 19, 2013 8:58am Apr 19, 2013 8:58am
Where is the EA?
  • #305
  • Apr 19, 2013 9:04am Apr 19, 2013 9:04am
Quoting whatfx
60 minuteman not sure what you mean. the fact that daily resistance was tested and failed to break above. there was a possibilty it may fail to go above again on a second touch. so that would have been a trade to avoid. not to take a long trade. even though there was a bullish engulf just below the resistance. are then saying that if price approaches resistance or support and there is an engulfing candle on h4, price is likely to break the resistance/support ? hence one should take the trade in that direction on a m15 engulf ? i cant seem to find...
Putting it a slightly different way.

If its such a key level why such a small bounce away from it? Yes the big boys are crafty and they have big vol's to push but if there were plenty of sell orders at that level you'd expect a bigger reaction. Also to get such a perfect 4hr higher low wave as a result?

A smaller reaction to a key level than has happened before, is often an indication that key level will not hold.

PS 2c again I don't mind trading into any key area (like enough scope to get to BE) as long as the candles look good and pa 'smooth'. In this case as it was buying, wouldn't like to see lots of upper wicks and a nice 1 2 3/higher low/zig zag higher.
  • #306
  • Apr 19, 2013 9:34am Apr 19, 2013 9:34am
Quoting joancb
Where is the EA?
congrats, you're number 3 on the ignore list, unfortunately, there's no prize for 3rd
tradewith60
  • #307
  • Apr 19, 2013 11:59am Apr 19, 2013 11:59am
couldn't resist gold h4/m15 combo... +60
Attached Image(s) (click to enlarge)
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tradewith60
  • #308
  • Apr 19, 2013 12:03pm Apr 19, 2013 12:03pm
well done
  • #309
  • Apr 19, 2013 12:09pm Apr 19, 2013 12:09pm
I got different bars. this is alpari UK gmt +2
Attached Image (click to enlarge)
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  • #310
  • Apr 19, 2013 12:11pm Apr 19, 2013 12:11pm
Quoting 60minuteman
couldn't resist gold h4/m15 combo... +60 {image} {image}
cool it was irresistable i took brent
Attached Image(s) (click to enlarge)
Click to Enlarge Name: brenth4.png Size: 29 KB
Click to Enlarge Name: brentm15.png Size: 31 KB
thankyou gregwilson
  • #311
  • Apr 19, 2013 12:25pm Apr 19, 2013 12:25pm
I just want to clarify the different between engulf bar and outside bar. I didn't know about it so I'll like to share it. I hope do not get banned.


................................Japanese Engulfing Pattern.....................................................Western Outisde Bar
Attached Images
  • #312
  • Apr 19, 2013 12:25pm Apr 19, 2013 12:25pm
Quoting njokie
cool it was irresistable i took brent {image} {image}
hahah nice...

I bailed on gold for 80, gotta go out...
tradewith60
  • #313
  • Apr 19, 2013 5:59pm Apr 19, 2013 5:59pm
[quote=60minuteman;6622082]hahah nice... I bailed on gold for 80, gotta go out...[/quot

6o minuteman,

could you please pm me. it is very urgent.
  • #314
  • Apr 19, 2013 6:20pm Apr 19, 2013 6:20pm
[quote=whatfx;6622572]
Quoting 60minuteman
hahah nice... I bailed on gold for 80, gotta go out...[/quot 6o minuteman, could you please pm me. it is very urgent.
that's a bit dramatic for FF what? I hope you haven't gone short gold with your life's savings?
tradewith60
  • #315
  • Apr 20, 2013 8:53am Apr 20, 2013 8:53am
Quoting -er-
the file is to big,you can download it from the link below . http://www.4shared.com/rar/lEu6TBX6/...Trading_Wi.htm

am unable to download it whats the problem?pls help
thankyou gregwilson
  • #316
  • Apr 20, 2013 9:45am Apr 20, 2013 9:45am
Quoting njokie
am unable to download it whats the problem?pls help
here are some articles on his trading patterns, essentially he looked for an inside bar that was also the narrowest range of the last 4 (NR4) or 7 (NR7) bars then trade the breakout. The thought process being that although you wont win all the time, the breakout will often be powerful and you will get a great risk to reward.... sound familiar?

http://tradinglib.com/patterns/idnr4-pattern

http://www.trading-naked.com/library/[Trading]-Stocks-&-Commodities-Toby-Crabel-ORB-articles.pdf
tradewith60
  • #317
  • Apr 20, 2013 11:48pm Apr 20, 2013 11:48pm
Hey60M,I am a newbie,I have a simple question.How to confirm daily S/R or weekly S/R.I think u may answered in this thread,But it's hard to find this answer.thx for your help in advance.
  • #318
  • Apr 21, 2013 12:44am Apr 21, 2013 12:44am
Quoting rookiekan
Hey60M,I am a newbie,I have a simple question.How to confirm daily S/R or weekly S/R.I think u may answered in this thread,But it's hard to find this answer.thx for your help in advance.
Dont be lazy . check out there. under strike zone. https://60minuteman.jux.com/
  • #319
  • Apr 21, 2013 12:48am Apr 21, 2013 12:48am
Quoting 60minuteman
here are some articles on his trading patterns, essentially he looked for an inside bar that was also the narrowest range of the last 4 (NR4) or 7 (NR7) bars then trade the breakout. The thought process being that although you wont win all the time, the breakout will often be powerful and you will get a great risk to reward.... sound familiar? http://tradinglib.com/patterns/idnr4-pattern http://www.trading-naked.com/library/[Trading]-Stocks-&-Commodities-Toby-Crabel-ORB-articles.pdf
hey,

what do you think about dinapoli method ?
  • #320
  • Apr 21, 2013 2:15am Apr 21, 2013 2:15am
Quoting Jasper Ng
hey, what do you think about dinapoli method ?
never really looked at it, but if it doesn't use s/r or price action i wouldn't bother
tradewith60
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