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H4 Power

  • #641
  • Sep 10, 2013 4:32am Sep 10, 2013 4:32am
EURGBP short.
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  • #642
  • Edited 6:50am Sep 10, 2013 6:24am | Edited 6:50am
Quoting pipmunks
Some pair that maybe worth to watch for the next 4 hours. {image} {image}
watching the eurusd too!

edit: got in on eurusd 15min bearish engulf
  • #643
  • Sep 10, 2013 6:39am Sep 10, 2013 6:39am
Quoting 60minuteman
Gold weekly & h4 charts today {image} {image}
What's the channel in picture? Thanks.
  • #644
  • Sep 10, 2013 8:46am Sep 10, 2013 8:46am
If you are talking the green and red lines, they are the entry and stoploss.
"Even if you fall down face first, you still went forward."
  • #645
  • Sep 10, 2013 1:32pm Sep 10, 2013 1:32pm
Hi 60 Minuteman,

I have a question regarding your chart analysis.As first screenshot in daily chart its two bar engulfing in USDCHF
But in Weekly chart in second screenshot previous bar is close up candle.
In monthly previous month candle close up candle.
So If I take short it should go to next weekly support right? Then it should go to long direction.

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  • #646
  • Sep 10, 2013 3:53pm Sep 10, 2013 3:53pm
Quoting bedayan
Hi 60 Minuteman, I have a question regarding your chart analysis.As first screenshot in daily chart its two bar engulfing in USDCHF But in Weekly chart in second screenshot previous bar is close up candle. In monthly previous month candle close up candle. So If I take short it should go to next weekly support right? Then it should go to long direction. {image}{image}{image}
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So in summary, so far the monthly sr has not made weekly engulf short, so monthly is still long and weekly is still long.

Daily is going to close long but has not been able to engulf, so daily will most likely push up to a daily sr above before we go down to a lower weekly s/r,

If tomorrow manages to go and close up over daily sr and cause a 2 bar engulf, then we can expect this weekly sr we have bounced on to continue the trend long upto the next monthly... at the moment that doesn't look likely.

Quite a tricky one!
tradewith60
  • #647
  • Sep 12, 2013 2:25am Sep 12, 2013 2:25am
GBPNZD short trade. D1 & H1 combo.
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Waiting H1 engulf.
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  • #648
  • Sep 12, 2013 2:29am Sep 12, 2013 2:29am
Quoting pipmunks
GBPNZD short trade. D1 & H1 combo. {image} Waiting H1 engulf. {image}
As always

... and well documented.
MT4/MT5 EAs/Indicators/Alerts coder
  • #649
  • Sep 12, 2013 2:40am Sep 12, 2013 2:40am
Quoting FerruFx
{quote} As always ... and well documented.
Ty Ferru .
It's a little difficult to find good H4 + M15 setup this week. There are many H4 engulf that didn't give reliable M15 engulf to enter.
  • #650
  • Sep 12, 2013 3:02am Sep 12, 2013 3:02am
Quoting pipmunks
{quote} Ty Ferru . It's a little difficult to find good H4 + M15 setup this week. There are many H4 engulf that didn't give reliable M15 engulf to enter.
hi pipmunks,

would u be looking at the audusd 4h engulf that just formed?
  • #651
  • Sep 12, 2013 3:18am Sep 12, 2013 3:18am
Quoting david1234
{quote} hi pipmunks, would u be looking at the audusd 4h engulf that just formed?
Hi davit.
The AUDUSD H4 engulf is too big, usually the movement already over & the force is exhausted. I will try to avoid big engulfing bar as the move maybe already over when the H4 candle close, especially when the moves stopped at S/R area.
Here's my H4 chart, from GMT +0 feed broker.
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  • #652
  • Sep 12, 2013 5:46am Sep 12, 2013 5:46am
Quoting 60minuteman
{quote} 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.
Hey 60, what would you think your average win% and average risk/reward if looking only at weekly/4hr charts? And how many pairs do you look at for these time frames?

Regards, jt
"Even if you fall down face first, you still went forward."
  • #653
  • Sep 13, 2013 3:16pm Sep 13, 2013 3:16pm
Quoting juicyt
{quote} Hey 60, what would you think your average win% and average risk/reward if looking only at weekly/4hr charts? And how many pairs do you look at for these time frames? Regards, jt
Hi Juicy,

thats very hard for me to say because I am at the stage where I don't trade specific timeframes, when I get time to trade I go through the timeframes, read the SR, work out the probabilities and take a trade, sometimes it will be h4, m15, sometimes D1 / h1...

All I will say is I am consistent and confident in my ability to be right enough to make good profit.
tradewith60
  • #654
  • Sep 14, 2013 3:24am Sep 14, 2013 3:24am
Thanks 60, I know it is a sh!t of a question but I still like to ask regardless. I might back test a little on weekly / 8hr charts and see how it turns out. I am thinking of sticking around the 1:15 ratio if possible to avoid some fakes and I like the 8hr charts a whole lot.

jt
"Even if you fall down face first, you still went forward."
  • #655
  • Sep 14, 2013 3:51am Sep 14, 2013 3:51am
hi is this an insider bar which says price is going down?
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  • #656
  • Sep 14, 2013 3:53am Sep 14, 2013 3:53am
Quoting trexy123
hi is this an insider bar which says price is going down? {image}
This isn't enough to say that price will go down. Don't forget the whole context.
MT4/MT5 EAs/Indicators/Alerts coder
  • #657
  • Sep 14, 2013 6:06am Sep 14, 2013 6:06am


Can you give a good example?

  • #658
  • Sep 14, 2013 6:11am Sep 14, 2013 6:11am
Quoting trexy123
Can you give a good example?
You have hundred's of examples in the thread
MT4/MT5 EAs/Indicators/Alerts coder
  • #659
  • Sep 14, 2013 6:16am Sep 14, 2013 6:16am


Can you give a good example?

  • #660
  • Sep 15, 2013 9:52pm Sep 15, 2013 9:52pm
Quoting trexy123
hi is this an insider bar which says price is going down? {image}
I would not be so sure about short. You have there 2 HL (higher lows), with the latter appears to be MSL (market structure low). All to me looks like about to shoot up to finish HP (harmonic pattern). Still there is no information whether the last candle is already closed, which would be an evening star.
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