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H4 Power

  • #741
  • Jan 7, 2014 4:51pm Jan 7, 2014 4:51pm
60,

Sometimes price opens above the close and eventually closes higher/lower than the previous bar open... do you consider that an engulf?
See screenshot below:
Attached Image
  • #742
  • Jan 7, 2014 5:05pm Jan 7, 2014 5:05pm
HI 60,

u mentioend u are having webinar series at anotehr sites ? can I join it ? which website are you referring to ?
  • #743
  • Jan 7, 2014 5:06pm Jan 7, 2014 5:06pm
Quoting luesak
60, Sometimes price opens above the close and eventually closes higher/lower than the previous bar open... do you consider that an engulf? See screenshot below: {image}
yes, we are looking for some way of defining when the flow from short has switched to long and vice versa.

We use an engulf but what is really happening is a change in the pattern of swings on the lower timeframes.
tradewith60
  • #744
  • Jan 7, 2014 5:26pm Jan 7, 2014 5:26pm
Quoting 60minuteman
{quote} yes, we are looking for some way of defining when the flow from short has switched to long and vice versa. We use an engulf but what is really happening is a change in the pattern of swings on the lower timeframes.
Thanks... canceled the short pending!
  • #745
  • Jan 7, 2014 5:29pm Jan 7, 2014 5:29pm
Quoting RubyTrader
HI 60, u mentioend u are having webinar series at anotehr sites ? can I join it ? which website are you referring to ?
60,

If you do a webinar... I'm totally in. Please let us know Where, When + Time Zone... I'm in Thailand... god knows where else people are!!!

Kim
  • #746
  • Jan 8, 2014 4:46am Jan 8, 2014 4:46am
ej h4 engulf off weekly sr
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-01-08 at 12.43.09.png Size: 34 KB


ej weekly chart
we have rejected off this weekly sr, last weeks close down suggests just a move to a weekly sr below, we have tapped one already but the lack of buying pressure hints we may need to go a bit lower, is worth risking an m15 trade on...
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-01-08 at 12.44.54.png Size: 31 KB
tradewith60
  • #747
  • Jan 8, 2014 6:11am Jan 8, 2014 6:11am
Quoting 60minuteman
ej h4 engulf off weekly sr {image} ej weekly chart we have rejected off this weekly sr, last weeks close down suggests just a move to a weekly sr below, we have tapped one already but the lack of buying pressure hints we may need to go a bit lower, is worth risking an m15 trade on... {image}
M15 did give an entry, stopped out for -11... small risk, big rewards...

just keep repeating the process

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-01-08 at 14.09.23.png Size: 35 KB
tradewith60
  • #748
  • Jan 8, 2014 8:00am Jan 8, 2014 8:00am
gu

context first from higher tf

weekly trend is still long, retrace bar last week, so expecting short to weekly sr before continuing long
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2014-01-08 at 15.56.10.png Size: 15 KB


PRICE STALLED ON WEEKLY SR, TODAY H4 TURNED AND ENGULFED LONG
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2014-01-08 at 15.55.41.png Size: 29 KB


ENTRY 1 ON M15 STOPPED OUT, BUT H4 CONTINUED TO TREND UP, SO TOOK SECOND ENTRY
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2014-01-08 at 15.59.52.png Size: 36 KB
tradewith60
  • #749
  • Jan 8, 2014 8:08am Jan 8, 2014 8:08am
Just want to do an update on money management and exits...

I'm not looking for a high win rate here, I'm not trying to reduce losses, move to break even or increase the win rate.

I am looking for the 1 or sometimes 2 days a week where price trends and continues.

I am happy to lose 10 m15 entries straight for those 1 or 2 runs where i can stack 2 or 3 m15 entries.

If possible I will always try and stack entries now and I will always try and just close some of the positions.

When you get 2 or 3 weeks trend in the same direction you will understand why.

You can do this with H4/M15 or W1/H4 or even M1/D1... it's all the same
tradewith60
  • #750
  • Jan 8, 2014 8:25am Jan 8, 2014 8:25am
Quoting 60minuteman
{quote} Hi Pat.... EU is a wait for more info scenario. Monthly engulfed long and was trending long. {image} Weekly engulfed short last week and hit a monthly SR.... here were looking for lower timeframe price action to hint the monthly trend long would continue. {image} H4 engulfed long off the monthly and Daily did turn up... but we stalled at the weekly SR, The h4 engulfed short and trended to daily sr {image} SUMMARY: JUST WAIT FOR SOME MORE INFO: WEEKLY ENGULF LAST WEEK FAILED TO FOLLOW THROUGH AND PRICE HAS 2 OPPORTUNITIES TO GO SHORT FROM...
Hi 60,

Thanks a lot for your reply, I also had a look at your website(s). Very informative, thank you.

I'll take the time to digest all this and to practice your strategy

take care
Slow & steady
  • #751
  • Jan 8, 2014 7:30pm Jan 8, 2014 7:30pm
few more tips on mapping good levels to watch for price action from....

Inserted Video
tradewith60
  • #752
  • Jan 8, 2014 7:50pm Jan 8, 2014 7:50pm
GA
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tradewith60
  • #753
  • Jan 8, 2014 11:22pm Jan 8, 2014 11:22pm
60, may i know when is the webinar series that you talked about ?
  • #754
  • Jan 9, 2014 3:15am Jan 9, 2014 3:15am
why h4power works..

1. Here's a H4 engulf
we look for the engulf to signal the start of a new trend
Attached Image (click to enlarge)
Click to Enlarge Name: h4engulf.png Size: 43 KB


2. Then we look to enter on m15
Attached Image (click to enlarge)
Click to Enlarge Name: m15.png Size: 63 KB


The H4 engulf is the footprint left on the market by large orders, this is our edge. As retail traders we can wait for the bigger players to show their hands, then we can take a low risk entry.
tradewith60
  • #755
  • Jan 9, 2014 3:30am Jan 9, 2014 3:30am
2. why do we say a close but no engulf will only be safe to it's own timeframe SR?

Look at this h4 example, price closed down but no engulf, so we would say it is safe to short only to it's own timeframe.
Unlike the engulf example above If there is no engulf, then there has been no confirmed breakout on the lower timeframe. You are in fact trading an inside bar and price could snap back at the first obstacle (its own timeframe sr)
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-01-09 at 10.52.59.png Size: 31 KB


heres the same h4 inside bar on m15... it breaks out and is then rejected by the next h4 sr
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-01-09 at 10.52.42.png Size: 34 KB
tradewith60
  • #756
  • Jan 9, 2014 6:36am Jan 9, 2014 6:36am
Quoting 60minuteman
few more tips on mapping good levels to watch for price action from.... http://www.youtube.com/watch?v=xAoUX...ature=youtu.be
60,

Best video yet!!! Your concepts and techniques have brought my demo account back from the abyss...

This video solidifies a lot of things for me.

Thanks

Kim
  • #757
  • Jan 9, 2014 2:26pm Jan 9, 2014 2:26pm
AUD/CAD

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tradewith60
  • #758
  • Jan 9, 2014 11:58pm Jan 9, 2014 11:58pm
Nice thread 60.
Good videos too.

I'm only just starting to read this thread and it is similar to something I was kicking around recently, but you've actually opened my eyes to something I always knew but didn't quite put it together...

Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #759
  • Jan 10, 2014 1:32pm Jan 10, 2014 1:32pm
Hi 60minuteman and others, very good your videos.
Your name should be SUPER60MINUTEMAN. LOL
greetings,
JVBS
Work very hard until you get there (excuse my english)
  • #760
  • Jan 10, 2014 2:59pm Jan 10, 2014 2:59pm
OK 60man, lets give it another shot.

Randomly picked UJ. There is a strong up trend as defined on MN & W1.
The last 2 weeks closed bearish, but could not break (ie close below) previous S/R by 104-ish. This suggests price may be retracing, taking a breath before resuming the up trend.
If it does, then there should be an H4 engulfing trigger within the next few days by 104 or so. Entry would be based on M15 bullish engulfing within the next 4h.
Since I don"t want to play with LTF so far I'll watch price reacting at these levels.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014 01 10 usdjpymonthly.png Size: 14 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2014 01 10 usdjpyweekly.png Size: 12 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2014 01 10 usdjpyh4.png Size: 17 KB


Another random chart, Eur Cad.
MN trend is clearly up. We had a bearish bar followed by a bullish engulfing closing strongly above previous MN high.
So now, I would expect a retest of the 1.48 MN resistance, followed by a H4 engulf. Since I rather stay away from M15, I'd enter on H4 break, SL below th eH4 engulfing, target D1 highs (1.49-ish, which is also W1 resistance).
I understood you don't look at historical S/R. Coming from J16's thread, I tend to... Here, the 1.54 area looks interesting with the confluence of 61% Fib, RN, and W1/MN flip zone. Could the trend be strong enough to reach this point?

Attached Image (click to enlarge)
Click to Enlarge Name: 2014 01 10 eurcadmonthly.png Size: 17 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2014 01 10 eurcadweekly.png Size: 13 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2014 01 10 eurcadh4.png Size: 13 KB


Am I on the right tracks here?
Slow & steady
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