H4 Power

Quoting luesak

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60, Perhaps some real examples would clarify things for me. I have attached several screenshots of where I think the S/R should be (blue lines). Do you see any other between my position and the first line I drew? I'm not very sure whether what I think are S/Rs are correct so I wanted to verify with a veteran. Also would the targets I have on the charts be the ones you would have set? All positions were entered on H4... and all had strong D1 engulfs. (as seen in the mini-charts) Thanks Kim {image} {image} {image}

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Quoting 60minuteman

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lots of people have trouble finding entries with large rr, the secret is to use scale, use the trend of the higher timeframe and find the entry on a lower tf in that direction... example from last week: ea daily engulf : Safe target is next weekly sr {image} mark the next weekly sr lines - add 2 in case it flies through the first {image} then we drop to a lower tf (using scale) to find a cheaper entry into that presumed move. {image} {image}

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Quoting lucariga

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{quote} Drawing S/R correctly, as you know, is also my tricky part... I've marked with two white circles 3 S/R that you didn't draw in the weekly EA chart you posted. 1) is the green candle high that is just below the low of the Daily engulf, so is valid 2) and 3) are the close and the low of the next weekly red candle. {image} All this S/R are below the low of the engulfing Daily candle you used, so as per the rules, they are possible targets. Why did you skip those S/R? If is not clear please tell me, I'll try to explain it better with my bad...

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Quoting 60minuteman

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{quote} Hi Lucariga, didn't skip them, but as we had 3 SR all grouped together there (the one i marked and the 2 you pointed out) I just marked the one... price would either go through or react strongly....marking all of them would of just made for a messy chart. If you took the trade, m15 would of told you if it was the sr line or not... very clearly M15 {image} also... really important... focus on the fact you need to get only a few right if you get the big RR, my win rate is currently around 30%. If the set up is good, take a small risk and hold,...

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Quoting 60minuteman

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{quote} Hi Luesak.... lots of stuff to go over there, I am doing a webinar series for another website at the moment, they will help. GBP/USD WEEKLY IS STILL LONG - NO SHORT ENGULF GBP/USD DAILY ENGULFED SHORT - SAYS DOWN TO WEEKLY SR - FRIDAY STILL CLOSED DOWN - SO DAILY SAYING STILL SHORT TO WEEKLY SR GBP/USD H4 - MY H4 FLOW IS STILL SHORT, BUT WEAK - SUMMARY - GU IS LIKELY TO GO LONG AT A WEEKLY SR - H4 ENGULF LONG WILL BE FIRST REAL CONFIRM - FOR NOW WE ARE RETRACING THE WEEKLY LONG TREND

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Quoting Winston Reed

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I closed out my first position. Second position active. H4 engulf north towards daily s/r. Maybe another short in the making. {image}

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Quoting patapouer

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Hi 60mm, Slowly getting some idea of your method, looks nice and simple Just as a small training exercise before diving in... Would these H4 candles on EurUsd be playable? Regarding trade management: you enter on the close don't you? you don't seem to wait for a break of the engulfing candle. On this specific trade however, I'd be wary about the D1 "flip zone "(PPZ à la James16), by 1.3650. How do you consider these? Thanks for your help! take care {image}

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