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Swing trading with heiken ashi and stochs

  • #2,521
  • May 10, 2013 1:02pm May 10, 2013 1:02pm
Quoting chye
{quote} Thank you Briss for your new pdf file,i have learnt more about this system. Wish you can post more charts. Green pips!
No problem, glad you found it useful. I will try to post more charts. I intend to post the 4 hour charts that I am watching for the week on a Sunday evening so you can see what pairs I am watching.
  • #2,522
  • May 12, 2013 4:23pm May 12, 2013 4:23pm
Here are the pairs I am watching for this week. Trades open on audusd and eurcad. Gbpusd hasn't closed red yet but is trading below the 100 sma on the 4 hourly so if it gives a clear signal then I will take it. Other than that it is just a case of waiting for something compelling to happen.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd weekly 12 5 13.png Size: 45 KB
Click to Enlarge Name: eurcad weekly 12 5 13.png Size: 47 KB
Click to Enlarge Name: eurusd weekly 12 5 13.png Size: 48 KB
Click to Enlarge Name: gbpcad weekly 12 5 13.png Size: 47 KB
Click to Enlarge Name: gbpusd weekly 12 5 13.png Size: 44 KB
  • #2,523
  • May 13, 2013 1:23am May 13, 2013 1:23am
Hello,

when you see a situation like this (this is Weekly Chart) where stoch seems to cross but yet there are many hours before the candle closes (in this case 8083 minutes ) , would you still consider this a situation to go for longs on a H4 signal or would you stay away until the picture is clearer?

http://img35.imageshack.us/img35/769...01381627am.png

Cheers,
  • #2,524
  • May 13, 2013 2:10am May 13, 2013 2:10am
Quoting Frenchie
Hello, when you see a situation like this (this is Weekly Chart) where stoch seems to cross but yet there are many hours before the candle closes (in this case 8083 minutes ) , would you still consider this a situation to go for longs on a H4 signal or would you stay away until the picture is clearer? Cheers,
Longs? You mean shorts? Yes, I would consider it ok to look for short trades on that pair (eurusd isn't it?).

If you look at the 4 hour chart you will see the price is below the 100 sma and so you just need to wait for a clear pullback.
  • #2,525
  • May 13, 2013 2:25am May 13, 2013 2:25am
Quoting Hugh Briss
{quote} Longs? You mean shorts? Yes, I would consider it ok to look for short trades on that pair (eurusd isn't it?). If you look at the 4 hour chart you will see the price is below the 100 sma and so you just need to wait for a clear pullback.
Yes, it is EURUSD, you know your pairs!
Actually, I meant longs. My stoch cross indicator did not yet confirm (arrow down) the cross down as the candle is still active, so theoretically we are in a long scenario still..... However with a suspicious behaviour looking like a tourn-around is up...
But, theoretically, what looks like crossing, might straighten out by the green stoch pushing up again during the next 8000 minutes.

So I was not sure if I should treat this picture

 

  1. still as valid long scenario,
  2. a scenario to better not do anything until the cross is confirmed upon candle closure,
  3. or already look into a short.


Cheers,

  • #2,526
  • May 13, 2013 2:57am May 13, 2013 2:57am
Quoting Frenchie
{quote} Yes, it is EURUSD, you know your pairs! Actually, I meant longs. My stoch cross indicator did not yet confirm (arrow down) the cross down as the candle is still active, so theoretically we are in a long scenario still..... However with a suspicious behaviour looking like a tourn-around is up... But, theoretically, what looks like crossing, might straighten out by the green stoch pushing up again during the next 8000 minutes. So I was not sure if I should treat this picture still as valid long scenario, a scenario to better not do anything...
When the weekly heiken ashi is turning like that and the stochs agree you want to look for shorts.
  • #2,527
  • May 14, 2013 5:26am May 14, 2013 5:26am
Eurusd may be worth taking. My candle closes at 14.00 (gmt + 1 so 13.00 gmt). If it hasn't gone too far away from that round number and it looks ok I will take the trade then.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4 hour 14 5 13.png Size: 60 KB
  • #2,528
  • May 14, 2013 8:02am May 14, 2013 8:02am
Short eurusd.
  • #2,529
  • May 14, 2013 8:19am May 14, 2013 8:19am
Quoting Hugh Briss
Short eurusd.
price closed below 1.3 and it's a good chance for short eurusd
  • #2,530
  • May 14, 2013 10:26am May 14, 2013 10:26am
It is amazing how price action reacts to round numbers. I just started plotting round numbers on all of my charts,
and looking into the past, many of the major support and resistance areas on the daily chart are round numbers.
Is this primarily because it is a level that a lot of traders are watching?? In other words Psychological levels??
  • #2,531
  • May 14, 2013 12:34pm May 14, 2013 12:34pm
Quoting SeanyTsunami
It is amazing how price action reacts to round numbers. I just started plotting round numbers on all of my charts, and looking into the past, many of the major support and resistance areas on the daily chart are round numbers. Is this primarily because it is a level that a lot of traders are watching?? In other words Psychological levels??
Yes, psychological/self fulfilling prophecy because lots of people expect a reaction of some kind at those round numbers and so, lo and behold, a reaction occurs but also it is said that the large players, hedgers and large institutional traders, put stop/limit orders at those levels which as soon as they are touched cause a big move.
  • #2,532
  • May 15, 2013 1:14am May 15, 2013 1:14am
I was stopped out on eurcad yesterday, maybe this will be another chance to enter. Negative eur news out this morning. My next candle closes at 10 am gmt + 1. If it closes somewhere just below the 50 level I'd be interested in being short.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad 4 hour 15 5 13.png Size: 56 KB
  • #2,533
  • May 15, 2013 2:00am May 15, 2013 2:00am
Good Morning,

a quick question on your entry on EURUSD here which you took at 14:00

http://img705.imageshack.us/img705/6...01385221am.png

Looking at the chart the 4H candle was not yet closed (candle from 12:00 - 16:00). In your descriptions you mentioned that the candles should be closed prior to take any position. Did you losen that rule a bit? Did you enter when the HA candle turned red? But then, still, the candle could have changed back from red to white during the next two hours, right?

Thanks for your thoughts on that one, Cheers,
  • #2,534
  • May 15, 2013 2:04am May 15, 2013 2:04am
Quoting Frenchie
Good Morning, a quick question on your entry on EURUSD here which you took at 14:00 Looking at the chart the 4H candle was not yet closed (candle from 12:00 - 16:00). In your descriptions you mentioned that the candles should be closed prior to take any position. Did you losen that rule a bit? Did you enter when the HA candle turned red? But then, still, the candle could have changed back from red to white during the next two hours, right? Thanks for your thoughts on that one, Cheers,
On my chart the previous candle had closed red and the body of the new candle was red. Maybe our brokers have different times so we would have seen slightly different candles? Usually they are similar.

Eurusd just moved to break even by the way.
  • #2,535
  • May 15, 2013 4:01am May 15, 2013 4:01am
Eurcad needs another 4 hours, it's not convincing me yet.
  • #2,536
  • May 15, 2013 7:57am May 15, 2013 7:57am
Eurcad looks ok but I don't want to trade into the support at 1.31 so I'm going to leave it. If it was just below the 50 level I'd be tempted but it's just floating around the middle right now. Eurusd and audusd are doing fine anyway so I'll let those run and wait for something to set up better.
  • #2,537
  • May 15, 2013 9:59am May 15, 2013 9:59am
Maybe gbpcad may be the better trade here? If it closes below 1.55 at 6pm my time I will consider a short.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad 4 hour 15 5 13.png Size: 54 KB
  • #2,538
  • May 15, 2013 12:15pm May 15, 2013 12:15pm
Short eurcad below 1.31 and gbpcad below 1.55. Both look good so I went for both. I usually use a 2 atr stop but I will pull the stops in a bit behind those levels. If they hold as resistance then so much the better, if not then I'm not losing too much.
  • #2,539
  • May 16, 2013 4:32am May 16, 2013 4:32am
For some reason the trade explorer isn't updating but eurcad and gbpcad are both going backwards. Not stopped out yet but looking as though they will. Eurusd floating around 100 pips up and audusd about 370 up.

Here's a weekly chart of audusd. 0.98 is a decision point. If we break this we should see further falls. I wouldn't be surprised to see this pullback from here and then either break and carry on down or just go sideways. The 100 sma is just catching up to the entry price so in a few more candles time it will be locking in pips for every extra 4 hour candle that it is open. Just got to wait and see what happens now.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd weekly 16 5 13.png Size: 67 KB
  • #2,540
  • May 16, 2013 4:45am May 16, 2013 4:45am
Eurcad and gbpcad both gone. Lost 65 pips in total on those two trades so not too bad. I'll watch for another entry on those pairs.
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