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H4 Power

  • #581
  • Edited 12:15pm Aug 30, 2013 10:37am | Edited 12:15pm
EURCHF short.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCHF H4 M15.png Size: 18 KB


Update :
Attached Image
  • #582
  • Aug 30, 2013 12:51pm Aug 30, 2013 12:51pm
Quoting pipmunks
GBPUSD trade. M15 entry from 4H engulf. {image}
nice win on GU!
i was waiting to short at a high price but missed ur entry
  • #583
  • Sep 1, 2013 8:54am Sep 1, 2013 8:54am
To really understand this process and style of trading you need to learn a different understanding of SR.

We make an assumption about a price being SR on a particular timeframe, but that is only confirmed when price reacts to it. So if I say the 1.300 on EU is daily SR and it fails to turn H4 then it is not.... In other words when we see a h4 engulf THAT IS DAILY SR.... when we see weekly engulf, that is monthly SR....

Just because price turned in the past does not make it SR now....only when current price turns can we make that confirmation, prior to that it is an assumption (or should that be presumption? not sure?) because it was in the past...

1.Mark your presumed SR levels.
2.Wait for price action to confirm or invalidate those levels.
3.Trade to the next presumed levels.

Obviously all we have to go on are the confirmed levels in the past, but we should always be watching the current price action too, so if you suddenly get a large h4 engulf, price action is telling you of a daily SR level you have failed to notice....

Price action and support and resistance are all you need but you must use them in unison, they are the two parts of the equation that will tell you where price is most likely to go.
tradewith60
  • #584
  • Sep 1, 2013 9:02am Sep 1, 2013 9:02am
GOLD WEEKLY WAS IN AN UPTREND AFTER A WEEKLY ENGULF, WE KNEW IT WOULD GO TO A MONTHLY SR

GOLD WEEKLY UPTREND
http://clip2net.com/clip/m106901/thu...-clip-11kb.png

SO WE COULD OF MADE A PRESUMPTION ABOUT THIS MONTHLY SR'S BEING THE LIKELY STOPPING POINTS
http://clip2net.com/clip/m106901/thu...-clip-15kb.png

WHEN WE HIT THAT MONTHLY SR IT HAS MADE DAILY TURN AND ENGULF, SO WE CAN PRESUME THAT IS HAS AT LEAST THE POWER OF WEEKLY SR AND THERE FORE DAILY WILL GO DOWN TO WEEKLY SR
http://clip2net.com/clip/m106901/thu...4-clip-7kb.png

NOW IF WEEKLY ENGULFS DOWN THEN WE CAN CONFIRM IT IS THAT MONTHLY SR AND WE CAN THEN SHORT TO MONTHLY SR BELOW
BUT AS YOU CAN SEE, FOR NOW, WEEKLY HAS ONLY CLOSED DOWN AND NO ENGULF
http://clip2net.com/clip/m106901/thu...7-clip-6kb.png

THAT IS THE PROCESS WE USE.... SIMPLE AND VERY NEAT!
tradewith60
  • #585
  • Edited 2:08am Sep 2, 2013 1:31am | Edited 2:08am
USDCAD short.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD 20130902 #1.png Size: 21 KB


Update :
Stopped out. Oh well, slow Monday .
  • #586
  • Sep 2, 2013 1:53am Sep 2, 2013 1:53am
Quoting 60minuteman
To really understand this process and style of trading you need to learn a different understanding of SR. We make an assumption about a price being SR on a particular timeframe, but that is only confirmed when price reacts to it. So if I say the 1.300 on EU is daily SR and it fails to turn H4 then it is not.... In other words when we see a h4 engulf THAT IS DAILY SR.... when we see weekly engulf, that is monthly SR.... Just because price turned in the past does not make it SR now....only when current price turns can we make that confirmation, prior...

What is presumed SR? How can we define this levels?
  • #587
  • Sep 2, 2013 1:55am Sep 2, 2013 1:55am
Quoting Tebriz
{quote} What is presumed SR? How can we define this levels?
Well explained in the thread ... Did you read it ?
MT4/MT5 EAs/Indicators/Alerts coder
  • #588
  • Sep 2, 2013 2:01am Sep 2, 2013 2:01am
Quoting FerruFx
{quote} Well explained in the thread ... Did you read it ?
He said that
"To really understand this process and style of trading you need to learn a different understanding of SR."
And what is " different understanding of SR"?
  • #589
  • Sep 2, 2013 2:07am Sep 2, 2013 2:07am
Quoting Tebriz
{quote} He said that "To really understand this process and style of trading you need to learn a different understanding of SR." And what is " different understanding of SR"?
The thread is exactly about 2 things: engulfing pattern (price action) and SR ("real" support and resistance).

Read the whole thread and you will understand. You can't start using the method by just reading the last posts.
MT4/MT5 EAs/Indicators/Alerts coder
  • #590
  • Sep 2, 2013 6:20am Sep 2, 2013 6:20am
Hi 60minuteman (and others)

Can this system/method etc be used on higher time frames? Personally I can't trade lower time frames (15min charts for entry) but when looking over the charts can't really figure out if it would be as good looking at 4hr charts for entries and moving up time frames to suit. Then again, I am not very good at this method so that would explain why I am not seeing it.

Jt
"Even if you fall down face first, you still went forward."
  • #591
  • Sep 2, 2013 7:07am Sep 2, 2013 7:07am
Quoting juicyt
Hi 60minuteman (and others) Can this system/method etc be used on higher time frames? Personally I can't trade lower time frames (15min charts for entry) but when looking over the charts can't really figure out if it would be as good looking at 4hr charts for entries and moving up time frames to suit. Then again, I am not very good at this method so that would explain why I am not seeing it. Jt
It works on any TFs ... and in my opinion, even better on higher TFs.
MT4/MT5 EAs/Indicators/Alerts coder
  • #592
  • Sep 2, 2013 9:14am Sep 2, 2013 9:14am
Quoting FerruFx
{quote} It works on any TFs ... and in my opinion, even better on higher TFs.
Hi Juicy... Ferru is correct this works on any timeframes.

Because of the market structure price has to engulf when it changes direction, we are using those changes in direction as locations to enter and exit the market.

I trade weekly direction/context on H4 all the time, if I have a few hours around London Open/NY open I can go down to H1 and trade that within the daily context, It is totally flexible.
tradewith60
  • #593
  • Sep 3, 2013 8:26am Sep 3, 2013 8:26am
Thanks Guys.

I will get a look at those time frames mentioned and see if it makes sense to me.

jt
"Even if you fall down face first, you still went forward."
  • #594
  • Edited 5:45am Sep 4, 2013 4:21am | Edited 5:45am
USDCAD short. D1+H1 combo.
Already @ BE. Hopefully survive through CAD news release today .
Attached Image (click to enlarge)
Click to Enlarge Name: 20130904 USDCAD #1.png Size: 37 KB


Update : remove the original TP & decide to close half manually for 2.5R.
Attached Image
  • #595
  • Sep 5, 2013 1:52am Sep 5, 2013 1:52am
Thanks Pipmunks, nothing better than an example by pictures.

Jt
"Even if you fall down face first, you still went forward."
  • #596
  • Edited 8:00am Sep 5, 2013 3:49am | Edited 8:00am
Quoting juicyt
Thanks Pipmunks, nothing better than an example by pictures. Jt
Your welcome .

Another trade i entered today in London session. So simple & less time watching in front of the computer .
Buy EURUSD.
Attached Image (click to enlarge)
Click to Enlarge Name: 20130905 EURUSD # 1.png Size: 40 KB


Update : Looks good so far. Set SL to BE and let it run.
Attached Image (click to enlarge)
Click to Enlarge Name: 20130905 EURUSD # 2.png Size: 13 KB


Stopped out. SL below M15 last swing low.
Attached Image
  • #597
  • Sep 5, 2013 11:30am Sep 5, 2013 11:30am
hey nice trades pipmunks!!

its a pity that ur eurusd got stopped.
due to the positive US data
  • #598
  • Sep 5, 2013 12:17pm Sep 5, 2013 12:17pm
Quoting david1234
hey nice trades pipmunks!! its a pity that ur eurusd got stopped. due to the positive US data
Thank you, D. Yeah, it could be a winner, but no problem. There will be plenty of good setup waiting in the corner
Good & safe trading to all.
  • #599
  • Sep 5, 2013 7:40pm Sep 5, 2013 7:40pm
Hello guys.

This pairs are in my watch list today. Hopefully market give a good setup today, a bit cautious because of NFP today
Attached Image (click to enlarge)
Click to Enlarge Name: 20130907 Setup # 1.png Size: 8 KB

Attached Image
  • #600
  • Sep 5, 2013 7:47pm Sep 5, 2013 7:47pm
Pipmunks, are you simply picking up pairs with a daily engulf or you have other criteria ?
MT4/MT5 EAs/Indicators/Alerts coder
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