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H4 Power

  • #621
  • Sep 7, 2013 8:20am Sep 7, 2013 8:20am
Quoting lucariga
{quote} Thx ferrufx, Ok,at least I'm sure to have understood the rules (with my poor english).... so what you think about my example above?
You were expecting the candle to go at least on the next monthly S/R ...

By zooming out the monthly chart you may have some clue. The previous candle seems to have hit a strong monthly S/R ... then you had a strong reaction down during the next month.
MT4/MT5 EAs/Indicators/Alerts coder
  • #622
  • Sep 7, 2013 8:46am Sep 7, 2013 8:46am
Quoting FerruFx
{quote} You were expecting the candle to go at least on the next monthly S/R ... By zooming out the monthly chart you may have some clue. The previous candle seems to have hit a strong monthly S/R ... then you had a strong reaction down during the next month.
yes, but still closed UP... so more UP on next month....
  • #623
  • Sep 7, 2013 8:55am Sep 7, 2013 8:55am
Quoting lucariga
{quote} yes, but still closed UP... so more UP on next month....
Unless if it has already hit the S/R ... and it seems to be the case. If you go down to weekly, you will see that the last week of that bullish month was engulfing short ... so down to the next monthly S/R.
MT4/MT5 EAs/Indicators/Alerts coder
  • #624
  • Sep 7, 2013 9:10am Sep 7, 2013 9:10am
Quoting lucariga
{quote} Maybe, but I can't already find it... Anyway, I think the rule is: UP last candle --> UP this candle at LEAST till same TF SR It's easyer to me to stick with rules, but how can you manage this situation in relation to that basic rule? Based on the rules, If I had traded, I surely have traded LONG that month..... Thanks again 60 for your patience and time
.....unless price has already hit the the higher tf sr

you forgot that bit Lucariga, if this was not the case then price would go one direction forever.
tradewith60
  • #625
  • Sep 7, 2013 9:27am Sep 7, 2013 9:27am
Ok, it seems the process for getting the context has been grasped by some I still need to do some more on it..

So here's the breakdown on uj that is currently being discussed, we can see price working it's way up the timeframes at each stage confirming the power of the sr we hit and that we would continue down

UJ MONTHLY
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-09-07 at 15.15.56.png Size: 172 KB


UJ CONFIRMATIONS ALL FROM THAT MONTHLY SR
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tradewith60
  • #626
  • Sep 7, 2013 9:31am Sep 7, 2013 9:31am
hi

does anyone know when a new S/R line appears using the kg S/R indicator.

if your trading the 4h chart but using daily S/R lines when will those lines appear start of the next day at midnight?
or later?

thanks

Darkhorse
  • #627
  • Sep 7, 2013 9:39am Sep 7, 2013 9:39am
uj continued with daily p.a down from the monthly to the monthly sr's we marked, at each stage signalling retraces, continuation and eventual reverse...

Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-09-07 at 15.37.44.png Size: 367 KB
tradewith60
  • #628
  • Sep 7, 2013 9:53am Sep 7, 2013 9:53am
Quoting Darkhorse987
hi does anyone know when a new S/R line appears using the kg S/R indicator. if your trading the 4h chart but using daily S/R lines when will those lines appear start of the next day at midnight? or later? thanks Darkhorse
This has nothing to do with this thread. We aren't using any kind of indicator here.
MT4/MT5 EAs/Indicators/Alerts coder
  • #629
  • Sep 7, 2013 11:08am Sep 7, 2013 11:08am
Quoting 60minuteman
uj continued with daily p.a down from the monthly to the monthly sr's we marked, at each stage signalling retraces, continuation and eventual reverse... {image}

much appreciated 60
  • #630
  • Sep 8, 2013 4:56am Sep 8, 2013 4:56am
Hi 60minuteman,

Great thread you've got here, I can only go to H4 charts because of work commitments so I'm looking at the monthly and weekly charts for direction and then the H4 for entries.

I hope I'm on the right track, here's what I see on EUR/JPY Monthly down to H4 perhaps you can correct any where I'm going of course thanks.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 8th Sept 13 EUR:JPY MN1.png Size: 98 KB
Click to Enlarge Name: 8th Sept 13 EUR:JPY W1 Chart.png Size: 104 KB
Click to Enlarge Name: 8th Sept 13 EUR:JPY D1 Chart.png Size: 107 KB
Click to Enlarge Name: 8th Sept 13 EUR:JPY H4 Chart.png Size: 146 KB
  • #631
  • Sep 8, 2013 9:42am Sep 8, 2013 9:42am
Quoting stevepatt
Hi 60minuteman, Great thread you've got here, I can only go to H4 charts because of work commitments so I'm looking at the monthly and weekly charts for direction and then the H4 for entries. I hope I'm on the right track, here's what I see on EUR/JPY Monthly down to H4 perhaps you can correct any where I'm going of course thanks. {image} {image} {image} {image}
Hi Steve and welcome to the thread...

Weekly H4 is cool, one of my favourite ways of trading.

So i have a weak close up on the weekly but no engulf, so most likely long to weekly SR, daily engulfed short saying short to weekly Sr but as you say, tapped one on Friday. The close down on the daily makes me think it needs a stronger weekly to go long from or at least another tap on Fridays low.

If I was just trading H4 entries I would be watching these levels for longs...
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-09-08 at 15.38.06.png Size: 31 KB


Personally though, If I was trading weekly h4 I would find something at more of an extreme, AJ looks well set for a Yen Cross?
tradewith60
  • #632
  • Edited 11:53am Sep 8, 2013 11:36am | Edited 11:53am
Quoting 60minuteman
{quote} Hi Steve and welcome to the thread... Weekly H4 is cool, one of my favourite ways of trading. So i have a weak close up on the weekly but no engulf, so most likely long to weekly SR, daily engulfed short saying short to weekly Sr but as you say, tapped one on Friday. The close down on the daily makes me think it needs a stronger weekly to go long from or at least another tap on Fridays low. If I was just trading H4 entries I would be watching these levels for longs... {image} Personally though, If I was trading weekly h4 I would find something...
Hi 60minuteman,

Thanks for the welcome.

Looking at EUR/JPY, it looks like it might have to drop a bit further before picking up strong enough demand to move it higher we'll wait and see.
Attached Image (click to enlarge)
Click to Enlarge Name: 8th Sept 13 EUR:JPY W1 Chart.png Size: 117 KB
  • #633
  • Sep 8, 2013 6:22pm Sep 8, 2013 6:22pm
Quoting stevepatt
{quote} Hi 60minuteman, Thanks for the welcome. Looking at EUR/JPY, it looks like it might have to drop a bit further before picking up strong enough demand to move it higher we'll wait and see. {image}
to me there was nothing on that chart saying short, just an SR at the top the had failed 3 times to push price short.

If price fails to trend away from an SR it is telling you it needs to go higher first.
tradewith60
  • #634
  • Sep 9, 2013 6:18am Sep 9, 2013 6:18am
I like where this is going.

I have grown to quite like the h4 time frame - it really gets rid of a lot of the noise.

I'll be keeping a close eye on this one
  • #635
  • Sep 9, 2013 10:06am Sep 9, 2013 10:06am
Keep an Eye at NZD/USD could set up a nice 4hr candle while hitting some resistance
  • #636
  • Sep 9, 2013 11:35am Sep 9, 2013 11:35am
Quoting Jeremy Oak
Keep an Eye at NZD/USD could set up a nice 4hr candle while hitting some resistance
Maybe you can post a chart to illustrate your thought, as 4H chart differs among brokers.
  • #637
  • Sep 9, 2013 11:58am Sep 9, 2013 11:58am
The only trade that I entered today. Buy GBPUSD H4 + M15 combo setup.
Sadly, I didn't ride it to it's full potential profit because I was thinking today is Monday "the lazy day" and price will reverse at last Friday high. So I closed it at sign of reversal on M15 .


Attached Image (click to enlarge)
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  • #638
  • Sep 9, 2013 3:25pm Sep 9, 2013 3:25pm
Quoting pipmunks
{quote} Maybe you can post a chart to illustrate your thought, as 4H chart differs among brokers.
Im looking also at a head and shoulders pattern on the daily and also a hanging man forming on the daily. NZD has reversed off this current level in the past so Im looking at using this H4 system to time a reversal entry to the short side.
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Click to Enlarge Name: NZD.JPG Size: 74 KB
  • #639
  • Sep 9, 2013 9:33pm Sep 9, 2013 9:33pm
Quoting 60minuteman
uj continued with daily p.a down from the monthly to the monthly sr's we marked, at each stage signalling retraces, continuation and eventual reverse... {image}
Perfect run through and example 60, thanks.
"Even if you fall down face first, you still went forward."
  • #640
  • Sep 10, 2013 2:53am Sep 10, 2013 2:53am
Some pair that maybe worth to watch for the next 4 hours.
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