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The Price is Right: Trading Price Action

  • #101
  • Mar 10, 2016 10:29am Mar 10, 2016 10:29am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting Hpt
Here you see a linechart - EU weekly - linecharts in higher timeframes gives an extra clue for big turning points (TRENDCHANGE), remember that behind any level stands an "area" of S/R. If you switch then to bar /Candle charts in LTF you have a better overview , finding best levels as posible. Its nicely visible "123pattern" as randolf posted http://www.forexfactory.com/showthre...16#post8792416 this is just my experience over the years {image} trade well and nice weekend HPT
line charts

Weekly chart

as expected EURUSD levels work fine tp 1.12

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H4

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green pips
HPT
from level to level - you need mental strength to reach the summit
  • #102
  • Mar 10, 2016 11:03am Mar 10, 2016 11:03am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
EURGBP H4

also fine move.... from level to level... nice day

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from level to level - you need mental strength to reach the summit
  • #103
  • Mar 10, 2016 11:04am Mar 10, 2016 11:04am
Not a coincidence where price took off
h4 daily m1
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #104
  • Mar 10, 2016 11:31am Mar 10, 2016 11:31am
Eaglestar, what does the blue line indicate?
  • #105
  • Mar 10, 2016 11:57am Mar 10, 2016 11:57am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting Hpt
{quote} Hi E, booked my pips now Im waiting for the Gap close (maybe long 1.4059 retracement ? - tp is obvious) weekly tweezer - {image} H4 {image} green pips HPT
GBPUSD H1

retracment not so far as expected ....but to 61.8 , on the way to gap close

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from level to level - you need mental strength to reach the summit
  • #106
  • Mar 10, 2016 9:36pm Mar 10, 2016 9:36pm
Quoting Hpt
{quote} GBPUSD H1 retracment not so far as expected ....but to 61.8 , on the way to gap close {image}

May I know where to get your template and all the indicators in your chart.....tnx
  • #107
  • Mar 11, 2016 5:04am Mar 11, 2016 5:04am
This is a very good thread, it address and focus on the basics and must useful concept of trading which have a very long history of success.

I use TrendForecast_v1.2.ex4 software to forecast price trend lines; currently it works on EURUSD, GBPUSD, AUDUSD and NZDUSD, on 1hour and 4hour time frame.
A Chart Pattern Guide to help make the most use of trend line is compiled in a .pdf file with the TrendForecast_v1.2.ex4.

EURUSD 4hour Time Frame Trend Forecast For March 11, 2016

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EURUSD 1hour Time Frame Trend Forecast For March 11, 2016

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MT4 Build 950
Attached File(s)
File Type: zip TrendForecast_v1.2Build950.zip   1.6 MB | 476 downloads


MT4 Build 910
Attached File(s)
File Type: zip TrendForecast_v1.2Build910.zip   1.6 MB | 359 downloads


MT4 Build 765
Attached File(s)
File Type: zip TrendForecast_v1.2Build765.zip   1.6 MB | 397 downloads



Allow DLL must be enabled for the EA to work, ignore all required input and click OK button to load it.
In the TrendForecast_v1.2.ex4 , when a trader switch between 1hour and 4hour time frames the EA will re-display the trend lines to suit each timeframe.
  • #108
  • Mar 11, 2016 9:18am Mar 11, 2016 9:18am
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  • #109
  • Mar 11, 2016 10:10am Mar 11, 2016 10:10am
Understanding weekly sr and lines also will make a big difference in trading the lower timeframes.

Weekly and 4h
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #110
  • Mar 11, 2016 10:31am Mar 11, 2016 10:31am
Hello eaglestar, can you please show on layering on lower time frame how you enter the trades, off daily support lines. I am not able to understand or apply this successfully.Thankyou
Quoting eaglestar
Understanding weekly sr and lines also will make a big difference in trading the lower timeframes. Weekly and 4h {image} {image} {image} {image} {image} {image} {image} {image} {image} {image}
  • #111
  • Mar 11, 2016 10:36am Mar 11, 2016 10:36am
@Alamhakim, in order to better understand the support on lower (shorter) TF's, you need to look at the longer TF's to confirm. Nothing's perfect but support is only stronger when other aspects coincide and price action will typically explain that. Sorry if that came off a little vague.
  • #112
  • Mar 11, 2016 10:50am Mar 11, 2016 10:50am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
USDCAD daily

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from level to level - you need mental strength to reach the summit
  • #113
  • Mar 11, 2016 10:58am Mar 11, 2016 10:58am
I lost 620€ during that Eur/usd spike i was up over 200 and then lost 500 and were able to recover my losses but i decided to take the loss and not risk more.. this comes late but just wanna warn everyone to not over risk trading. When everything seem to going great and i was up from around 600€ to 2000 with my own money and various currency trandes. Now i have given all my gains and more in few trades. My thoughts is if im not over leveraged i cant never trade big but usually the setups that looks good will fail unless you trade micro lots for long term. Today i put buystop on pinbar @ around 50% retrace on gbp/chf 1.41475 i almost knew its going to fail. Now runs in profit .Never trust on one trade and overleverage it. My confidence comes from demo accounts succeeding to make from 5000 to over 9000 in 3 weeks and 100k account to 127k less than 1 week (over leveraged) im a bit drunk atm .. good trading to everyone!
  • #114
  • Mar 11, 2016 11:13am Mar 11, 2016 11:13am
Quoting Alamhakim
Hello eaglestar, can you please show on layering on lower time frame how you enter the trades, off daily support lines. I am not able to understand or apply this successfully.Thankyou{quote}
Take for example the EURUSD Weekly Levels I had on a Daily chart

This is something I see on weekly daily 4h sr levels as well as daily and 4h forks.

As price hits a strong line or sr level or fork, if you miss the entry, or are waiting for price to confirm, there are more possibilities.
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #115
  • Mar 11, 2016 11:37am Mar 11, 2016 11:37am
Quoting Johnfx2
I lost 620 during that Eur/usd spike i was up over 200 and then lost 500 and were able to recover my losses but i decided to take the loss and not risk more.. this comes late but just wanna warn everyone to not over risk trading. When everything seem to going great and i was up from around 600 to 2000 with my own money and various currency trandes. Now i have given all my gains and more in few trades. My thoughts is if im not over leveraged i cant never trade big but usually the setups that looks good will fail unless you trade micro lots for long...
:nerd:
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #116
  • Mar 11, 2016 11:43am Mar 11, 2016 11:43am
An example on h4 timeframe forks and m15 price action example. It can work on forks sometimes better because they are magnitized to the highs, so I recommend if you are trying to use trendlines that they are magnitized/anchored to the highs and lows.

4h/1h/15m example on recent usdjpy fork.

As said earlier, i recommend starting on horizontal sr mountains and valleys, as most people don't know how to draw forks correctly.
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #117
  • Mar 11, 2016 11:51am Mar 11, 2016 11:51am
watch EJ and GU
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #118
  • Mar 11, 2016 12:21pm Mar 11, 2016 12:21pm
Watch this level on usdchf
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #119
  • Mar 14, 2016 10:29am Mar 14, 2016 10:29am
Weekly and Daily
EU
AU
UCAD
UJ
UCHF
GBP
I am working on making charts a bit more simple to maximize profits. Please if you post make charts clear and ask clear questions.
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #120
  • Mar 14, 2016 10:32am Mar 14, 2016 10:32am
follow up GBP

By seeing the main levels on W/D you can start to learn how to place your orders on h4 h1
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
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