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  • #35,261
  • Apr 9, 2014 8:58am Apr 9, 2014 8:58am
A probable set-up. What do you think guys?

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  • #35,262
  • Edited 9:33am Apr 9, 2014 9:15am | Edited 9:33am
Quoting gurenu
A probable set-up. What do you think guys? {image}
Hi guruenu,

Look at Weekly chart, do you see the 2013 High? Draw a horizontal line on that 2013 High

Edit: What do you see?

Then switch down to Day chart, what do you see?

Is Day bias buy or sell?

Now go to H4 chart, do you see APB#1 and APB#2 and TDI cross down or pointing 4-6 direction?

Which is the setup candle?

Then it will be easier to make a trade GO / NO-GO decision with consistent top down approach.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,263
  • Apr 9, 2014 9:43am Apr 9, 2014 9:43am
Zoopots and anyone who looks to his longer time frame trades..

Would you consider a H4 long on EurAud on close of the next CS?

I am very tempted, with a few of the things you talke about occurring:

Bouncing for 2nd time off RN 1.4700 which is also last weeks low, and last 3 CS formed a triple bottom; bullish divergence on Daily and H4; plus H4 coming from strongly oversold 32 level; and price above PAC while TDI is crossing at 1 o'clock..

Against, is the strong bullish CS earlier this week which also closed above PAC, and the strong down trend..

cheers

irishtoffy
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  • #35,264
  • Apr 9, 2014 9:58am Apr 9, 2014 9:58am
AUDJPY 9 APR H1 trade:

A PCRF setup entry I learned from Phx62, our master of H1 trading.
On target soon.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,265
  • Apr 9, 2014 10:10am Apr 9, 2014 10:10am
Quoting emmanuel7788
GBPJPY 9 Apr GMT1122 waiting for a setup: {image}
Where is your PAC?
  • #35,266
  • Apr 9, 2014 10:15am Apr 9, 2014 10:15am
Well EU finally broke through 1.38. Boy did I read that wrong. H1 strenghened on NYO. Should have looked at D1
  • #35,267
  • Apr 9, 2014 10:21am Apr 9, 2014 10:21am
GBYJPY ... weekly divergence after some consolidation ... H4 MBL trending down although cross not yet there, however, H1 giving sell signal and price has crossed daily PP. Have taken a small short for now (bit aggressive maybe) but will sell more if after H4 confirmation and sell more again on break of RN 170.50 ... I'm expecting a re-test of BRN 170.00 ... Comments welcome.

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All for one and one for all
  • #35,268
  • Apr 9, 2014 10:26am Apr 9, 2014 10:26am
Quoting nsscott
{quote} Where is your PAC?

I turned that off using properties>visualization so to emphasize the candlestick PA when I made that chart for posting.
Once we can read candlestick PA better, we will have the option to use the PAC or not to use. But it is good to have it and be able to turn on/off.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,269
  • Apr 9, 2014 10:31am Apr 9, 2014 10:31am
Quoting Zoopots
{quote} Pulled the trigger. {image}
NZDCHF H1 update

Headlines: BRN .7700 held. MT4 alarm went off last night when PA hit .7670. Drug my rear out of bed and managed the position. As I have the day off doing chores I'm doing so via an H1 chart...what a pain. Upon reaching +60 pips protected I'll switch to my normal H4 routine.

Currently S/L moved to .7687, +20 protected; TP moved to .7587 in the +100 pip range. MFE stands at +70. Thanks to my Swiss relatives for helping this trade out...LOL.

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  • #35,270
  • Apr 9, 2014 10:35am Apr 9, 2014 10:35am
Zoopots, just moved my SL to +22 pips myself!

I'm curious why you place your TP at 100? Is it because of this recent low?
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Everything you can imagine, is real - Pablo Picasso
  • #35,271
  • Apr 9, 2014 10:38am Apr 9, 2014 10:38am
Quoting Bizzzle
{quote} I have gain confidence from back-testing, If we have this big candles at the right time of day we should see a continuation on this trade... by studying the charts we can see we have a high chance of success with momentum. There will be times when it will reverse on us and we take a loss but like big E said not much: {image}
A-M-E-N!!!!! This is why I trade H4...for the very reason explained by the originator! You will win more often than you will lose so don't fear the market! Like Patton said: "Wade into the enemy, shoot him in the belly....make him die for his country!" Attack the market with a plan and stick to it!
  • #35,272
  • Apr 9, 2014 10:39am Apr 9, 2014 10:39am
ug can't edit my post. Anyone else having this problem?

@Zoopots, what is your settings for TDI? I noticed yours is much smoother than mine
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Everything you can imagine, is real - Pablo Picasso
  • #35,273
  • Apr 9, 2014 10:47am Apr 9, 2014 10:47am
Quoting emmanuel7788
AUDJPY 9 APR H1 trade: A PCRF setup entry I learned from Phx62, our master of H1 trading. On target soon. {image}
Sorry Emm...what is a PCRF?

Thanks!
  • #35,274
  • Apr 9, 2014 10:48am Apr 9, 2014 10:48am
Quoting Direwolf
Zoopots, just moved my SL to +22 pips myself! I'm curious why you place your TP at 100? Is it because of this recent low? {image}
Yep!
  • #35,275
  • Apr 9, 2014 10:50am Apr 9, 2014 10:50am
Quoting Direwolf
ug can't edit my post. Anyone else having this problem? @Zoopots, what is your settings for TDI? I noticed yours is much smoother than mine {image}
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  • #35,276
  • Apr 9, 2014 10:56am Apr 9, 2014 10:56am
Quoting cvgreen46
GBYJPY ... weekly divergence after some consolidation ... H4 MBL trending down although cross not yet there, however, H1 giving sell signal and price has crossed daily PP. Have taken a small short for now (bit aggressive maybe) but will sell more if after H4 confirmation and sell more again on break of RN 170.50 ... I'm expecting a re-test of BRN 170.00 ... Comments welcome. {image} {image} 1403186 {image}
I took the same H1 trade using Dynamic Candle Entry (APB#1)

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,277
  • Apr 9, 2014 10:56am Apr 9, 2014 10:56am
Quoting irishtoffy
Zoopots and anyone who looks to his longer time frame trades.. Would you consider a H4 long on EurAud on close of the next CS? I am very tempted, with a few of the things you talke about occurring: Bouncing for 2nd time off RN 1.4700 which is also last weeks low, and last 3 CS formed a triple bottom; bullish divergence on Daily and H4; plus H4 coming from strongly oversold 32 level; and price above PAC while TDI is crossing at 1 o'clock.. Against, is the strong bullish CS earlier this week which also closed above PAC, and the strong down trend.....
Scratch that, its closing with a huge upper wick
  • #35,278
  • Apr 9, 2014 10:59am Apr 9, 2014 10:59am
Quoting Zoopots
{quote} {image}



I did the same and also use Weighted Close Price (HLCC/4)
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,279
  • Apr 9, 2014 11:00am Apr 9, 2014 11:00am
Quoting Zoopots
4/8/1600 update: USDCHF: moved S/L into profit (trailing the PAC); left TP @ .8810. Pulled 1 lot off for +60 as it hit UT line. Will manage TP at next candle close in 4 hours for remaining lots. I had been watching the .8870 area but when PA tested the Daily DT line for the 5th time and showed 2 pin HAs...I pulled the trigger. Good sign that the shorter term H4 UT line has been breached. Risk free now...that always feels good. {image}
USDCHF 4/9/1600 update (an hour early):

Moved S/L to .8855 to protect +60 (7 pips >PAC); moved TP to .8780 (old DSR level and < Fib 61.8); PA surfing PAC (I love it!); ignored 4/9/0800 TDI Buy signal for obvious reasons. Note the red DT line I placed on the chart, FYI I find these trend lines that have such steep slope are not dependable...so I place more emphasis on PA + PAC relationship.

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  • #35,280
  • Apr 9, 2014 11:01am Apr 9, 2014 11:01am
Interesting pair I've spotted is NZDUSD daily chart. I'll be looking to short this one.

Pro - double top at high point that hasn't been reached for a year. Forming a pin/rejection bar. Divergence. Plenty of room down to 0.85

Con - the pin is rather small, still gotta see how it closes.
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