H4 Power

Quoting lucariga

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{quote} Is my first week, so I just want to follow the rules. Last week engulfed so I've taken the first 4H engulfing.... No problem at all for the loss. I'll stick with the rules @Luesak Quote: "I was watching UC as well... I once had a pending order but cancelled because I felt it was quite extended. That previous peak also hit a monthly S/R." 60 hasn't any rule about overextended price, and yes, previous weekly did hit not only a monthly SR but at least 5 monthly SR and broke them like butter. Other than that last weekly was a BIG engulfing,...

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Quoting 60minuteman

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{quote} yes, just unfortunate you didnt get the move start last week... keep going

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Quoting luesak

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{quote} Luc, It's like this for me... the same $$$ why not put in something more promising... why put it in a tired old dog... Kim

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Quoting lucariga

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This is the AUDUSD 4H. Last week was an engulfing. As you can see price has broken the 2 monthly levels (in pink) I've marked at the start of the week. If the last candle closes as engulfing should I continue to go long? Are my targets the next MONTHLY SR due to the last week engulfing or I should watch for a Daily SR as target? {image}

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Quoting 60minuteman

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{quote} Hi Luca, I did a video response http://www.youtube.com/watch?v=yKbIH...ature=youtu.be

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Quoting 60minuteman

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Great run down on the GJ... watch out for that monthly trend push long now... if it happens will be obvious

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Quoting lucariga

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{quote} Could be this one? GJ 4H {image}

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Quoting biker883

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Hi 60 and team, Thank you very much for your effort to spread your knowledge. Although the principals are basic and easy to grab, I am still puzzled on how to pick the s/r level where we are in an area where there isn't candles around actual price as per picture below. Would appreciate your comments Gerry{image}

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Quoting patapouer

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{quote} I just started playing with 60's method, so please don't put too much weight on what i may say... I was also expecting a reaction, but I would really have liked to see it happen a bit lower, by 168 , ie closer to the RN / monthly support + 150EMA. And I wouldn't take the break of this H4 you pointed, as it didn't trigger the bar after... So, to me, either there is another bounce from 168 with a nice H4 engulfing or a deep H4/D1 pinbar (but I doubt the pb would appear today...), or I'll just pass on this pair. But again, just my way of seeing...

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Quoting 60minuteman

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{quote} Hi pat, you need to be more reactive and less predictive. Don't pass a possible monthly low because the market hasn't done what you predicted it might. I just closed out over 900 pips on GJ short and left another 540 open from a punt I took on the monthly high last week (2nd jan). There was no reason to take the trades other than price action, all the analysis and SR prediction gave me a context of what might happen but that information is just there to aid me with exits, my entries I except will mostly die, but I know I will get the trends...

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Quoting lucariga

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{quote} Super as usual. Can we know how many and what pairs are on your watching list?

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Quoting 60minuteman

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{quote} Luca i'm just trading GJ, GOLD and SP500 right now, I review it from time to time if something is not trending.

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Quoting luesak

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60, Have been quietly following the conversation... and trading. I'm having difficultly taking exits even though I've marked the S/R levels correctly. I've managed to let a +100 pips trade become something a potential loss. Here's the EJ trade I took last night. H4: The entry is not very typical but it's something I'm experimenting with. It's the exit that makes a good story... and that I have difficulty pulling off. As you can see prices broke 2 Monthly S/R and keep going to create that long wick at the close. Before the close of that bar I was...

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