H4 Power | Page 62 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Power Of Now 4 Forex 14 replies

Imagine a FOREX TRADERS ASSOCIATION. Imagine the Power 14 replies

Knowledge is Power 5 replies

FLAG POWER 1 reply

Keeping Some Fire Power In Reserve 0 replies

Attachments: H4 Power
Exit Attachments

H4 Power

  • #1,221
  • May 5, 2015 9:32am May 5, 2015 9:32am
Quoting 60minuteman
GU giving a signal on H4, it has hit that daily SR above and daily is still down..... but that SR failed to push us down yesterday s worth a trade I think {image}
next weekly line hit on GU - we kind of knew that would hapen
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-05-05 at 15.31.44.png Size: 27 KB
tradewith60
  • #1,222
  • May 5, 2015 10:22am May 5, 2015 10:22am
hi 60MM,

i am observing your engulfing trading approach with weekly sr lines very simple and clean stuff.
Gold chart and possible setup i followed.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ae575327723aae631f7573dcc023926a.png Size: 41 KB
Click to Enlarge Name: fb491e08b6683c4bce3ff11230d981b4.png Size: 38 KB
Click to Enlarge Name: b530e3fbc3dc55715c2f8684263e4590.png Size: 38 KB
  • #1,223
  • May 5, 2015 10:27am May 5, 2015 10:27am
After yesterday's gold daily engulf candle close chances were more clear for the price to go up for weekly level.
Today's possible setups.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSDH1.png Size: 39 KB
Click to Enlarge Name: XAUUSDM5.png Size: 39 KB
  • #1,224
  • May 5, 2015 10:57am May 5, 2015 10:57am
Quoting aamirgpi
After yesterday's gold daily engulf candle close chances were more clear for the price to go up for weekly level. Today's possible setups. {image} {image}
Hi AA....

yeah seem's like you get the core idea, the only thing I would say is that dont forget to look at all the recent highs and lows from weekly bars as they can all be the SR that stops a move...
tradewith60
  • #1,225
  • May 5, 2015 11:06am May 5, 2015 11:06am
Quoting 60minuteman
{quote} next weekly line hit on GU - we kind of knew that would hapen {image}
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-05-05 at 17.04.15.png Size: 25 KB


Gu fell back from the weekly line, I prefer to hold for bigger targets only, not that it is the only way but it has positive expectation and the decision to hold is then much easier.... Have some defined exits you always use, don't leave it completely to discretion because you will get it wrong more often than not.
tradewith60
  • #1,226
  • May 6, 2015 3:36am May 6, 2015 3:36am
first GU long stopped out this morning, watching the retrace now

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-05-06 at 09.35.36.png Size: 25 KB
tradewith60
  • #1,227
  • May 6, 2015 4:24am May 6, 2015 4:24am
also took a short on Gold, target is that weekly SR below

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-05-06 at 10.23.49.png Size: 25 KB
tradewith60
  • #1,228
  • May 6, 2015 9:58am May 6, 2015 9:58am
GU whipsaw today, long stopped out, short then stopped out, second long hit target 1 and still running...

you have to take the losses and continue on, it's hard, but it is unavoidable..

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-05-06 at 15.56.04.png Size: 28 KB
tradewith60
  • #1,229
  • May 6, 2015 10:00am May 6, 2015 10:00am
GOLD short hit target, long stopped out, short still running..

completely mechanical, take the set up's and hold them

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-05-06 at 15.59.34.png Size: 28 KB
tradewith60
  • #1,230
  • May 6, 2015 10:23am May 6, 2015 10:23am
60M,

So are you now favoring/preferring to trade Daily engulfs rather than H4 engulfs?
  • #1,231
  • May 6, 2015 10:36am May 6, 2015 10:36am
Quoting Traderbry
60M, So are you now favoring/preferring to trade Daily engulfs rather than H4 engulfs?
hey TB, really depends on what else I need to do and wether I want to be at the charts a lot.

The reason to trade the engulf followed by a retrace entry is because it is price making the A,B,C pattern of higher high, higher low (for longs) or lower low, lower high (for shorts)... So you can pick any timeframe you wish to trade...

The other decision you need to make is how big a RR you wish to target, and wether you will move to b.e after x pips or not...

Then it is a question of taking the set ups and holding for your targets. It get's tough sometimes as with random distribution of wins/losses you will get a run of losers.... but you have to carry on and wait for the inevitable big wins and run of wins...
tradewith60
  • #1,232
  • May 6, 2015 11:21am May 6, 2015 11:21am
thanks 60 -

I believe I understand the concept; and I would love to hold trades for maximum gains, but it's difficult since the number of trades I can take simultaneously are hindered by margin rules in the US. And sometimes another engulf happens while an earlier trade is still going...
  • #1,233
  • May 6, 2015 11:33am May 6, 2015 11:33am
Quoting Traderbry
thanks 60 - I believe I understand the concept; and I would love to hold trades for maximum gains, but it's difficult since the number of trades I can take simultaneously are hindered by margin rules in the US. And sometimes another engulf happens while an earlier trade is still going...
well you could use a rule that you hold for x tp unless you get an opposing signal... then close your short/long and look for the next entry

You could say use 3R as a target, or the next weekly SR, or an obvious swing point.... many options, no right or wrong
tradewith60
  • #1,234
  • May 6, 2015 1:33pm May 6, 2015 1:33pm
Quoting 60minuteman
{quote} well you could use a rule that you hold for x tp unless you get an opposing signal... then close your short/long and look for the next entry You could say use 3R as a target, or the next weekly SR, or an obvious swing point.... many options, no right or wrong
True - I have been thinking along similar lines. You're rubbing off on me, 60M! 😄
  • #1,235
  • May 6, 2015 3:18pm May 6, 2015 3:18pm
Quoting 60minuteman
{quote} hey TB, really depends on what else I need to do and wether I want to be at the charts a lot. The reason to trade the engulf followed by a retrace entry is because it is price making the A,B,C pattern of higher high, higher low (for longs) or lower low, lower high (for shorts)... So you can pick any timeframe you wish to trade... The other decision you need to make is how big a RR you wish to target, and wether you will move to b.e after x pips or not... Then it is a question of taking the set ups and holding for your targets. It get's tough...
Well said 60minuteman. Well said
If you think you can or cannot do it you are correct
  • #1,236
  • May 6, 2015 3:35pm May 6, 2015 3:35pm
no big win's yet this week... Thursday Friday should bring some nice runners...
tradewith60
  • #1,237
  • May 7, 2015 4:29am May 7, 2015 4:29am
Quoting 60minuteman
no big win's yet this week... Thursday Friday should bring some nice runners...
how abt this one 60min
did anyone take this trade ?

15min entry
Attached Image


Daily engluf
Attached Image (click to enlarge)
Click to Enlarge Name: EA.jpg Size: 298 KB
  • #1,238
  • May 7, 2015 4:58am May 7, 2015 4:58am
Quoting H4-forex
{quote} how abt this one 60min did anyone take this trade ? 15min entry {image} Daily engluf {image}
very nice trade, the daily , m15 with weekly targets is a nice combo too
tradewith60
  • #1,239
  • May 7, 2015 5:04am May 7, 2015 5:04am
I'm watching this GU, just pushed to a new swing hi off the weekly SR... looking to catch a retrace here

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-05-07 at 11.03.58.png Size: 21 KB
tradewith60
  • #1,240
  • May 7, 2015 8:23am May 7, 2015 8:23am
guess GU will go into a deathspin until the election result now...
tradewith60
1 trader viewing now