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H4 Power

  • #441
  • Apr 25, 2013 4:03am Apr 25, 2013 4:03am
Another example of how price action can tell you ahead of time that an S/R might break.

The clue is from price action at new highs and lows... If we hit a resistance and close down then we have a hint that it is a reversal point, but price must continue down and engulf short to confirm. If we then engulf long again then it is not the top, we will (most likely) break out.
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tradewith60
  • #442
  • Apr 25, 2013 4:12am Apr 25, 2013 4:12am
EU H4 engulf long.

Some pretty shoddy trading here but technical analysis is good
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tradewith60
  • #443
  • Apr 25, 2013 4:19am Apr 25, 2013 4:19am
Quoting whatfx
{quote} i see some of your gold trades have moves of +50 pips. a bit confused, the spot gold i trade only moves on average 15 pips a day. so what instrument are you trading ?
If you're in the UK I recommend GKFX, been trading a few years live with them and really have no complaints, there are 3 or 4 others in my skype group who use them too.
tradewith60
  • #444
  • Apr 25, 2013 5:24am Apr 25, 2013 5:24am
what ma are you using in your chart ( the 2 blue lines)
  • #445
  • Apr 25, 2013 5:29am Apr 25, 2013 5:29am
Quoting Jasper Ng
what ma are you using in your chart ( the 2 blue lines)
50sma 50lwma...
tradewith60
  • #446
  • Apr 25, 2013 7:26am Apr 25, 2013 7:26am
Quoting 60minuteman
Another example of how price action can tell you ahead of time that an S/R might break. The clue is from price action at new highs and lows... If we hit a resistance and close down then we have a hint that it is a reversal point, but price must continue down and engulf short to confirm. If we then engulf long again then it is not the top, we will (most likely) break out.
Hi. Based on this idea on G/J Daily, a bullish OB on H4 and a 2-bar engulfer on M15 I just took a long (153.25).

Now if the plan is to expect the BO of the last daily high (153.89), what is my target supposed to be?
I see nothing obvious before 160.00! 650 pips above. Isn't it a lil' bit presumptuous?
No greed. No fear. Just maths.
  • #447
  • Apr 25, 2013 7:40am Apr 25, 2013 7:40am
Quoting PipMeUp
{quote} Hi. Based on this idea on G/J Daily, a bullish OB on H4 and a 2-bar engulfer on M15 I just took a long (153.25). Now if the plan is to expect the BO of the last daily high (153.89), what is my target supposed to be? I see nothing obvious before 160.00! 650 pips above. Isn't it a lil' bit presumptuous?
yeah, a bit... you could go for a trail behind each h4 low... or shout for a r/r over 3/1.... or stay in until h4 closes against you
tradewith60
  • #448
  • Apr 25, 2013 9:04am Apr 25, 2013 9:04am
Quoting 60minuteman
{quote} ... there are 3 or 4 others in my skype group who use them too.
Do you talk about oil in your Skype group ? If so, please sign me up (Skype ID also jtrade) ?
  • #449
  • Apr 25, 2013 4:22pm Apr 25, 2013 4:22pm
Could I also sign up with your skype group even though Im working and might not be on as often as I would like.Ive been studying patterns for ages and was surprised that its just about the same as yours.I ended up with the 4 hour e/u and ej with the 200 sma and bollinger bands but have never looked at gold or anything else.Basically long above line and short below but yes very interesting what you have come up with,Thanks
  • #450
  • Apr 25, 2013 8:04pm Apr 25, 2013 8:04pm
H4 inside bar breakout +100
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tradewith60
  • #451
  • Apr 25, 2013 10:20pm Apr 25, 2013 10:20pm
Hey,60Min,would u give me your skype account through private message,I wanna join ur group to learn trading this stratety.thx in advance.
Quoting 60minuteman
{quote} If you're in the UK I recommend GKFX, been trading a few years live with them and really have no complaints, there are 3 or 4 others in my skype group who use them too.
  • #452
  • Apr 25, 2013 10:37pm Apr 25, 2013 10:37pm
Quoting 60minuteman
H4 inside bar breakout +100 {image}
Hi 60MM,

Did you use pending orders here?

Thanks,
LO-Trader
  • #453
  • Apr 26, 2013 1:13am Apr 26, 2013 1:13am
Eur yen ... perfect price action ... example

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  • #454
  • Apr 26, 2013 2:36am Apr 26, 2013 2:36am
Quoting LO-Trader
{quote} Hi 60MM, Did you use pending orders here? Thanks, LO-Trader
just jumped on momentum.... pending order set up is so clunky on mt4
tradewith60
  • #455
  • Apr 26, 2013 2:38am Apr 26, 2013 2:38am
Quoting rookiekan
Hey,60Min,would u give me your skype account through private message,I wanna join ur group to learn trading this stratety.thx in advance.{quote}
hey rookie, it's not a teaching group or specific trading style, it's just a group of friends that i have known for a while... if i do start something I will pm you, but would rather keep it thread based
tradewith60
  • #456
  • Apr 26, 2013 4:21am Apr 26, 2013 4:21am
4 trades this week Audus, Gbpus, usjpy and Eurus. All of them BE. I had the opportunity to close two of them with 1:1 and usjpy with 1:1.5 but I decided to wait for a bigger reward and it did not work this time. usjpy I keep opened 3 days and eurus 2 days, basically because the initial structure stilled valid.

Market has been very choppy this week. I rejected some entry due the area or the general condition. I think is not a bad week considering that we have a very range market and also very little movement, for instance eurus 140 pips range, when atr50 weekly is 240 pips.
I think to me this week is over.

Next week more.
  • #457
  • Apr 26, 2013 4:33am Apr 26, 2013 4:33am
Quoting relaxtrading
4 trades this week Audus, Gbpus, usjpy and Eurus. All of them BE. I had the opportunity to close two of them with 1:1 and usjpy with 1:1.5 but I decided to wait for a bigger reward and it did not work this time. usjpy I keep opened 3 days and eurus 2 days, basically because the initial structure stilled valid. Market has been very choppy this week. I rejected some entry due the area or the general condition. I think is not a bad week considering that we have a very range market and also very little movement, for instance eurus 140 pips range, when...
yeah relax.... been very flat week, gold and oil been the only moves for me really...
tradewith60
  • #458
  • Apr 26, 2013 6:33am Apr 26, 2013 6:33am
little gold countertrend entry there.... missed it
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tradewith60
  • #459
  • Apr 26, 2013 7:13am Apr 26, 2013 7:13am
Quoting Jasper Ng
Eur yen ... perfect price action ... example {image}
i dont see an engulf here
  • #460
  • Apr 26, 2013 7:21am Apr 26, 2013 7:21am
h4 engulf forming on gu
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