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H4 Power

  • #1,121
  • Edited Sep 2, 2014 3:58am Sep 1, 2014 10:35am | Edited Sep 2, 2014 3:58am
chf/jpy: after weekly engulf last week already given a pull back for a short, 4h engulf in production now, admittedly 113.25/15 is support but worth a punt
background is channel, flag, lower highs/lows

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result not favorable but did provide a free trade
  • #1,122
  • Edited 10:36pm Sep 3, 2014 12:00pm | Edited 10:36pm
GBPCAD, H4 power earning pips for me
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Click to Enlarge Name: 2014-09-04 01_55_31-4611778_ MetaTrader 4 - Demo Account - [GBPCAD,H4].png Size: 46 KB
  • #1,123
  • Sep 3, 2014 3:24pm Sep 3, 2014 3:24pm
GBPUSD respecting the monthly s/r... Allows to trade with confidence.

Taking 2 positions (or close half the position if 1 position), leaving the rest to go to the next tp will be the way to go.
Attached Image (click to enlarge)
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  • #1,124
  • Sep 3, 2014 9:28pm Sep 3, 2014 9:28pm
I thought I was good to go on the EURCAD - I got spiked out and THEN the expected downmove happened. The setup was so perfect, too...

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  • #1,125
  • Sep 5, 2014 7:09pm Sep 5, 2014 7:09pm
FINALLY SUCCESS!! I kept the faith and kept "participating"... 140+ pips and could've been more, but I'm not complaining - SL was less than 20 pips. TP was at SR.

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  • #1,126
  • Sep 6, 2014 3:38am Sep 6, 2014 3:38am
Quoting Traderbry
FINALLY SUCCESS!! I kept the faith and kept "participating"... 140+ pips and could've been more, but I'm not complaining - SL was less than 20 pips. TP was at SR. {image}
Hello Traderbry, What is the blue line on your chart???? Can you please explain the way you exercute the trade on 4H chart???

Thank you
  • #1,127
  • Sep 6, 2014 10:01am Sep 6, 2014 10:01am
Quoting chienung
{quote} Hello Traderbry, What is the blue line on your chart???? Can you please explain the way you exercute the trade on 4H chart??? Thank you
Hi Chienung,

That blue line is the 50sma on the close. As far as how I executed this trade, since the Weekly move is downward, and the H4 trend is clearly down (per the 50 sma and price action), I waited for price to begin a fresh downward move on the H4. I determined this from the engulfing candle just before that long bearish candle; I placed a pending order entry Short just below the engulfing candle and set my SL just above it.

Hope this helps,
  • #1,128
  • Sep 6, 2014 10:17am Sep 6, 2014 10:17am
Quoting Traderbry
{quote} Hi Chienung, That blue line is the 50sma on the close. As far as how I executed this trade, since the Weekly move is downward, and the H4 trend is clearly down (per the 50 sma and price action), I waited for price to begin a fresh downward move on the H4. I determined this from the engulfing candle just before that long bearish candle; I placed a pending order entry Short just below the engulfing candle and set my SL just above it. Hope this helps,

Very nice work.
"Never interrupt your enemy when he is making a mistake" Napoleon Bonaparte
  • #1,129
  • Sep 6, 2014 6:58pm Sep 6, 2014 6:58pm
Quoting Traderbry
{quote} Hi Chienung, That blue line is the 50sma on the close. As far as how I executed this trade, since the Weekly move is downward, and the H4 trend is clearly down (per the 50 sma and price action), I waited for price to begin a fresh downward move on the H4. I determined this from the engulfing candle just before that long bearish candle; I placed a pending order entry Short just below the engulfing candle and set my SL just above it. Hope this helps,
Thank you Traderbry... I will try to follow... Cheers....
  • #1,130
  • Sep 11, 2014 11:58am Sep 11, 2014 11:58am
I had a 75-pip trade turn around and get stopped out yesterday (EURCAD). I appreciate the thought behind letting trades run for the big wins, but it takes some time to get a mindset where what happened to me stops bothering me, haha. I would much rather take those 75 pips and look for my next trade...
Early in this thread (page 1 or 2), 60MM posted a video that lays out how to select these H4 Engulf trades and determine your RR. I think I will go back to doing it that way -- at least until I grow my account a bit more. Then I can maybe split my entries (i.e., half my lots to a h4 sr level, the other half to run to a Weekly sr level or stopout).

I really appreciate the method of entering on m15 - it certainly makes the RR picture look much sweeter...
  • #1,131
  • Sep 12, 2014 2:32pm Sep 12, 2014 2:32pm
NZDUSD Nice weekend to all.
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  • #1,132
  • Sep 16, 2014 4:04pm Sep 16, 2014 4:04pm
Hello all,

60MM's definition of an engulfing candle is a candle whose open & close engulfs a previous candle's open & close; does anyone know of an indicator that can alert when an engulf happens?
  • #1,133
  • Sep 16, 2014 11:39pm Sep 16, 2014 11:39pm
Quoting Traderbry
Hello all, 60MM's definition of an engulfing candle is a candle whose open & close engulfs a previous candle's open & close; does anyone know of an indicator that can alert when an engulf happens?
hi traderbry,

hope this is what you are looking for....
Attached File(s)
File Type: mq4 jvsengulf2.mq4   7 KB | 555 downloads
  • #1,134
  • Sep 17, 2014 1:00am Sep 17, 2014 1:00am
good morning everyone and 60Minute,
well this is how i see , daily engulf and next target would be weekly S/R ....
so my target it 1.65500...
what you say guys ... ?
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  • #1,135
  • Sep 17, 2014 3:14am Sep 17, 2014 3:14am
Going enjoy reading this Thread nice work mate . Love the Engulfing especially if its Bollinger Breakout on high volume . My favourite single candle The Karakasa as highlighted in his webnair at the 45minute mark . See ya in October mate . Many happy pips to all

Inserted Video
  • #1,136
  • Sep 18, 2014 8:05am Sep 18, 2014 8:05am
Quoting ukanimk
{quote} hi traderbry, hope this is what you are looking for....{file}
Thanks Ukanimk - I will try this out!

Bry
  • #1,137
  • Sep 18, 2014 8:11am Sep 18, 2014 8:11am
2 great trades (for me) for the week - after a couple of small stop-outs, I entered a trade that went 70 pips in my favor, then reversed and hit my -22 SL. But here are 2 trades that worked out very well and closed earlier this morning...

AU Short, +110 pips...
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GA Long, +360 pips
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  • #1,138
  • Sep 19, 2014 4:06am Sep 19, 2014 4:06am
Quoting H4-forex
good morning everyone and 60Minute, well this is how i see , daily engulf and next target would be weekly S/R .... so my target it 1.65500... what you say guys ... ? {image}
HI GUYS,,,,,
about 3 days ago i posted my predictions ... and today we hit
any comment ?
thanks 60min
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  • #1,139
  • Sep 19, 2014 7:57am Sep 19, 2014 7:57am
Quoting H4-forex
{quote} HI GUYS,,,,, about 3 days ago i posted my predictions ... and today we hit any comment ? thanks 60min {image}
Well, you did not post it 3 days ago.............was 2 days ago.........

on 17th Sep you said your target is 1.6550..........it has not reached that yet..........your target was not 1.6520
  • #1,140
  • Sep 19, 2014 8:02am Sep 19, 2014 8:02am
Quoting H4-forex
{quote} HI GUYS,,,,, about 3 days ago i posted my predictions ... and today we hit any comment ? thanks 60min {image}
well done
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