When Price is UP, buy; when Price is Down, sell short... | Page 32 | Forex Factory

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Attachments: When Price is UP, buy; when Price is Down, sell short...
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When Price is UP, buy; when Price is Down, sell short...

  • #621
  • Jan 8, 2016 12:03am Jan 8, 2016 12:03am
and here is the 4hr tf.

i have marked possible reversal zones with dotted black lines.
when price reach these zones then i usually drop down and monitor for reversal bars in the lower 30 mins & 1hr tf's, that is if i can be present at my trading station.
if i can't be present then i will try and pop in around the time when the 4hr tf bar closes to see if price has halted its slide or not.
Attached Image
  • #622
  • Jan 9, 2016 3:12am Jan 9, 2016 3:12am
and here the 4hr +brb shows the buy entry after the NFP.
i came late to my trading station but entered long anyway.

price moved 30 pips pass my bottom reversal zone that i pointed out in my previous post above this one before halting its slide and then bounce upwards.
the 1hr buy signal was 12 pips earlier than the 4hr bar close that signaled longs in 4hrs tf. i also entered buys in several more pairs.

here is the 4hr chart for comparison.
Attached Image
  • #623
  • Jan 9, 2016 3:37am Jan 9, 2016 3:37am
lets put it all together... the bigger picture.

...some traders may say that they never saw any signs of a price reversals...
...others may, yes, there were several signs beforehand of a price reversal... let us look at some of those warning signs... i have picked a forex pair that is one of the 8 pairs that i trade. i do hope someone may gain some beneficial knowledge from these charts.

in the Daily chart of GBPNZD below, i address some of those signs.
the 1st chart is a Line Chart and the 2nd chart will be a Candlestick chart.

if u are interested then please try and answer the question on the chart with your own proofs... then in the 2nd chart i will provide my opinion and proof.
u do not have to post your reasons here, keep them to yourself if u so prefer, but at least have some idea of your own... tickle your mind.
Attached Image
  • #624
  • Jan 9, 2016 7:38am Jan 9, 2016 7:38am
hi Sunshine, with reference to page 1,do you allow the entry candle to close on the execution TF before you enter trades?
  • #625
  • Jan 10, 2016 10:48am Jan 10, 2016 10:48am
Quoting timilehin
hi Sunshine, with reference to page 1,do you allow the entry candle to close on the execution TF before you enter trades?
hi timilehin

yes i do.
  • #626
  • Jan 10, 2016 11:15am Jan 10, 2016 11:15am
Quoting sunshine
lets put it all together... the bigger picture. ...some traders may say that they never saw any signs of a price reversals... ...others may, yes, there were several signs beforehand of a price reversal... let us look at some of those warning signs... i have picked a forex pair that is one of the 8 pairs that i trade. i do hope someone may gain some beneficial knowledge from these charts. in the Daily chart of GBPNZD below, i address some of those signs. the 1st chart is a Line Chart and the 2nd chart will be a Candlestick chart. if u are interested...

ok, lets continue the GBPNZD scenario for this coming week, at least, that is what i think may happen.
so what do i think which way price will move ?
...i favour the long side.
and here is the same Dly chart in candlestick format for additional clarification and visual impact.
Please note the Weekly Trend is still down but the Weekly Bias is Up.
Attached Image
  • #627
  • Jan 11, 2016 12:59am Jan 11, 2016 12:59am
here is a concise summary of all these pages that went before:

  1. if Weekly bar closed Up, then buy all +brb's in 4hrs, until
  2. the 4hrs close below its own LSL. from this point onwards,
  3. sell in 4hrs and stay short until
  4. the 4hrs makes a new LSH and closes above it.

​the above applies to all combinations of this method, that means;

  1. Dly+M
  2. 4hrs+Wkly

​if the Mthly bar closed Dwn then just reverse the procedure;

  1. stay short in Dly until
  2. the Dly close above its own LSH.
  3. when this happens the trading bias in Dly is now long.
  4. and so on.

  • #628
  • Jan 11, 2016 10:50pm Jan 11, 2016 10:50pm
on monday i closed a few trades, that was left over the weekend, all for gains.
today i find a few trades in gains and a few trades in losses, mostly EUR counter party pairs, but as off this moment trade direction still confirmed.

red news today for GBP & JPY
  • #629
  • Jan 14, 2016 12:04am Jan 14, 2016 12:04am
i have 8 open trades on the pairs that we trade, all are buys... one currently showing red.
closed some shorts earlier in the GBPUSD & GBPJPY just to add to equity.
there were a few losses yesterday when the 4hr tf switched from short to long, but losses are an intergral part of trading, what is important is your trade size
..if its too large then a few losses will hurt your account and your mindset, making u fearful and hesitant and second guessing to take the next signals when they appear.. and they may appear right after u got stop.

a PM that i received has prompted me to do a full revision of our method and strategies. this i intend doing later this evening God Willing.
  • #630
  • Jan 14, 2016 12:16am Jan 14, 2016 12:16am
red news coming up for GBP & USD
  • #631
  • Jan 15, 2016 7:10am Jan 15, 2016 7:10am
Closed most trades in this account...all are handsome profits.
here is a snapshot to show the amount of pips gained. at one point there were 16 trades, some were stopped out for loss a few hit PT and the rest were SL hits.

it was not all gains, there were some losses as well but the gains far outweigh the losses.
the losses were mainly on down spikes for the EUR pairs, put differently...some Stops were brought up too close,

All losers were in 4hrs because i traded this week the 4hr+Weekly combo exclusively.
Attached Image (click to enlarge)
Click to Enlarge Name: fri 15Jan all trades showing pips.png Size: 20 KB
  • #632
  • Jan 15, 2016 8:03am Jan 15, 2016 8:03am
some examples of 4hr+W combo closed trades, i include the 30mins for clarity.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 4hr+30m short fri 15Jan.png Size: 26 KB
  • #633
  • Jan 15, 2016 8:08am Jan 15, 2016 8:08am
GBPNZD longs
at the time of this screen shot, i just closed a long as can be seen on the chart with another 3 open buy trades remaining...the actual buy entry can't even be seen on the 30mins chart.
i had 0ne or Two losses when the 4hrs switched bias...from short to long as can be seen on the 4hr chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD 4hr+30m longs fri 15Jan.png Size: 32 KB
  • #634
  • Jan 15, 2016 8:19am Jan 15, 2016 8:19am
here is another 4hr chart, this time it the EURAUD.
i am still a bit pissed off with myself because i had 4 longs (one buy was a BE plus) here but brought up the SL too close thus suffering unnecessary losses but i quickly recovered from my disappointment and bought again...this time keeping the SL at a comfortable distance away from the price action.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 4hr+30m longs fri 15Jan.png Size: 28 KB
  • #635
  • Jan 15, 2016 8:35am Jan 15, 2016 8:35am
ok at this point i feel i need to state that after i entered a trade or trades then i will put a SL (sometimes not always).
...this vey important::

  1. i will CLOSE my trading station and walk away. i have a good life outside of trading.
  2. just before the next 4hr bar close i will open my trading platforms to check on the trades.
  3. most times i will arrive at the trading stations after the 4hr bar closed, sometimes as late as 30mins or 1hr. i will then review the trades and ADD to the trades or bring up SL or enter new BuyStop Order or Limit Order, depending on what price in the 4hrs is doing.
  4. having done this, i will again close the trading platforms with a mental note to check-in later again.
  5. ​there are some consecutive 4hrs that will miss completely bcz i may be asleep or busy.

  • #636
  • Jan 16, 2016 9:24am Jan 16, 2016 9:24am
of all 9 pairs that i trade i favour for the EURNZD for continued upside next week.
the 4hrs closed friday in retracement mode...so expect more downside before a buy signal.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD 4hr+30m longs fri 15Jan.png Size: 27 KB
  • #637
  • Jan 16, 2016 10:54am Jan 16, 2016 10:54am
and this is how this pair EURNZD closed of friday.
Weekly price bar closed Up
Weekly+4Hr combo is Up... so the trading bias for coming week are long trades in 4hr.

the red dotted line marks last weeks 50% range
and since price is in retracement mode in 4hrs, i'm hoping that it will halt its slide before it reaches my SL.
the 50% price range serves as an alert to me to be on the lookout for a +brb that will indicate buys rule.
...the strategy is to buy after every 4hr bar close that moves in the desired direction.
...but should a 4hr reversal bar not appear then we will trade short should price close below its 4hr LSL. Price rules and i will follow where it indicates it is going.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD 4hr+W clse sat 16Jan.png Size: 28 KB
  • #638
  • Jan 16, 2016 10:57am Jan 16, 2016 10:57am
EURAUD...M+Dly combo=Up
...buys rule in Dly tf.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Dly+Mtly sat 16Jan.png Size: 26 KB
  • #639
  • Jan 16, 2016 12:06pm Jan 16, 2016 12:06pm
Quoting sunshine
EURAUD...M+Dly combo=Up ...buys rule in Dly tf. {image}
Hi sunshine,

Sorry for the delay. Due to some little work, I can't concentrate on the ea and trading.

Soon, I'll update the code as per your wish Wish you a happy new year A bit late

Bendz
  • #640
  • Jan 16, 2016 10:39pm Jan 16, 2016 10:39pm
Quoting Bendz
{quote} Hi sunshine, Sorry for the delay. Due to some little work, I can't concentrate on the ea and trading. Soon, I'll update the code as per your wish Wish you a happy new year A bit late Bendz
hello Bendz,

my ! my ! what a co-incidence...as i was making the early brew of "boere troos" known in english as coffee (the real thing from ground beans not the poisoned instant version) i was thinking what happened to u ... now i know the reason...
... almost 800 pips in GBPUSD shorts alone not to mention GBPJPY AND all the other positive trades...way too many for me to count, over 40 trades i guess. !!! excellent !!! way to go
Ok, take your time on the ea and all the best for 2016 for u too...u really making a grand 2016 entrance...good going..but we miss u over here.
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