When Price is UP, buy; when Price is Down, sell short... | Page 49 | Forex Factory

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

  • #961
  • Aug 15, 2016 12:21pm Aug 15, 2016 12:21pm
Regarding to Sunshine:

Could you check AUDCAD?
4H = up
Weekly = down

The market is going to up and this week made new high at 0,9935 (at closed price).
If the price closed higher than 0,9935 there will be a buy signal?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD 4H.jpg Size: 152 KB
  • #962
  • Aug 16, 2016 12:43am Aug 16, 2016 12:43am
Quoting Woolfpol
Regarding to Sunshine: Could you check AUDCAD? 4H = up Weekly = down The market is going to up and this week made new high at 0,9935 (at closed price). If the price closed higher than 0,9935 there will be a buy signal? {image}
Yes Woolfpol, there will be a buy signal.
but in 4hrs not weekly... i think u just made mistake when u were typing the text.

i drew a purple dotted line on the 4hrs chart below to show u your level and my level... don't worry about the different levels because some brokers have different starting times for their respective trading platforms,
...also, the movement of price creates different highs and lows on a closing graph, therefore your level may not be relevant anymore... see my chart below, i took a close at or above the most recent LSH as signal my entry buy signal.

and thank u for drawing my attention to that pair as it not a pair on my watchlist.
Attached Image
  • #963
  • Edited 2:36am Aug 16, 2016 1:09am | Edited 2:36am
Quoting Woolfpol
Now i have time for trades. I have just buy CADJPY at 78,35 SL 77,35 4H = UP Weekly = UP {image}
your SL must have been hit in this trade. don't stress, i had two buy losses in this pair... see the 4hr chart below.

my Dly buy that i showed in post 955 o the previous page also resulted in a loss, but not only that... i did the same as u, i bought again but that buy trade also was stopped out.
​However, the 1st few 4hr bars did not impress me at all, in other words ... the 4hr price action did not please me, so i shorted, see the 1st purple arrow and the ellipse to point out which bars i am referring to...then i put in a SL and PT...this short trade is still open as can be seen on the charts {this short was not according to method}
the 2nd purple arrow basically says, that if i was not short already and in a loss then i would have entered there.

 

  1. EDIT: i moved the SL down to protect against a loss.
  2. uploaded wrong chart, sorry Woolf

When price closed thru and below the LSL {purple line} it gave shorting signal and confirmation that my short direction is correct.
this same bar was the one that activated my 2 SL's.

Attached Image
  • #964
  • Aug 16, 2016 1:15am Aug 16, 2016 1:15am
lots of red news today,
now for the GBP then later on for EUR, CAD & NZD, so trade the necessary precautions to protect your capital and trading profits.
  • #965
  • Aug 16, 2016 1:30am Aug 16, 2016 1:30am
hi Sunshine, the last weekly candle on cadjpy closed up,is it down bcos it did not close below the previous buy?
  • #966
  • Aug 16, 2016 1:31am Aug 16, 2016 1:31am
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYWeekly.png Size: 30 KB
  • #967
  • Edited 2:28am Aug 16, 2016 2:17am | Edited 2:28am
Quoting timilehin
hi Sunshine, the last weekly candle on cadjpy closed up,is it down bcos it did not close below the previous buy?
ok, timilehin,

the answer to your question is No.
when the weekly candle closes up on friday...that now means, for the coming week we will be looking to buy in 4hrs.
unless, price closes below its LSL in 4hrs... as the following 3 charts are trying to illustrate... can you see it ?

please read and study the charts, starting from the left side...the one with the white bars... start with this one.in each chart i have inserted and pointed out new signals and comments.

below are 3 charts, all 4hrs. i have taken a clean off-line chart to show only that which is important. i have chosen different bar colours to illustrate different concepts of each chart. i hope it helps.

Do u understand now ? do u understand clearly without a shadow of doubt ?
if u still uncertain, then please ask, maybe i did not understand your question.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY 4hrs timilehin tues 16Aug.png Size: 26 KB
  • #968
  • Aug 16, 2016 2:27am Aug 16, 2016 2:27am
Quoting timilehin
{image}
one more thing...
i'm making a strong suggestion to u to change the colours of your charts to visually reflect an up bar better, that way u won't be confused again as to whether price closed up or down...

just right click on chart, then select "properties" then select the "colors" tab, now change "upbar" to green and "up candle" to green also... or change both to blue if u prefer.
choose any colour that u like as long as your bar closes stand our clearly, thank you.
  • #969
  • Aug 16, 2016 2:54am Aug 16, 2016 2:54am
4 new trades today.

Sell AUDNZD 4H down, weekly down;
Buy AUDSGD 4H up, weekly up;
Sell EURNZD 4H down, weekly down;
Sell GBPAUD 4H down, weekly down.
Attached Image (click to enlarge)
Click to Enlarge Name: trades.jpg Size: 183 KB
  • #970
  • Aug 16, 2016 5:29am Aug 16, 2016 5:29am
Quoting Woolfpol
4 new trades today. Sell AUDNZD 4H down, weekly down; Buy AUDSGD 4H up, weekly up; Sell EURNZD 4H down, weekly down; Sell GBPAUD 4H down, weekly down. {image}
hello Woolfpol
very good, you're getting the hang of it...just one small worry i have regarding your entries... they are very late, so i have taken the liberty to show on your own posted charts where the entries should have been.
by this i mean.. your first short entry was already 3bars after the shorting signal. that is 3bars x 4hrs=12hrs late.
and one pair i would have avoided bcz the bars are not smooth but more up and down as in a range... u don't have to trade every pair.. be selective and only trade those pairs whose price bars pleases you.
...and the last pair on the right...it appears as if you pre-empted the bar close and entered before the bar closed, thus giving u a worst entry position.
Attached Image (click to enlarge)
Click to Enlarge Name: Woolfpol 4hr trades1.jpg Size: 240 KB
  • #971
  • Aug 16, 2016 6:37am Aug 16, 2016 6:37am
Quoting sunshine
{quote} hello Woolfpol very good, you're getting the hang of it...just one small worry i have regarding your entries... they are very late, so i have taken the liberty to show on your own posted charts where the entries should have been. by this i mean.. your first short entry was already 3bars after the shorting signal. that is 3bars x 4hrs=12hrs late. and one pair i would have avoided bcz the bars are not smooth but more up and down as in a range... u don't have to trade every pair.. be selective and only trade those pairs whose price bars...
Thank you for your advice. Next time i will try to trade earlier. Better loose situation to trade than loose money
  • #972
  • Aug 16, 2016 2:56pm Aug 16, 2016 2:56pm
New trade: Long GBPCHF @ 1,2550 SL 1,2440
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.jpg Size: 62 KB
  • #973
  • Aug 17, 2016 1:29am Aug 17, 2016 1:29am
Quoting Woolfpol
New trade: Long GBPCHF @ 1,2550 SL 1,2440 {image}
excellent observation and correct placement of the LSH line Woolfpol
i hope u still in that buy trade bcz it is pointing higher... a 4hr close above that dotted line confirms trade direction.
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  • #974
  • Aug 17, 2016 1:33am Aug 17, 2016 1:33am
below i'm posting a few 4hr charts to show and make clear the 4hr LSH buys.
first up CADJPY
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  • #975
  • Aug 17, 2016 1:34am Aug 17, 2016 1:34am
next up, GBPUSD

i have a short trade open, Why ? because the W+4hrs=Down... checkout which way last week closed.
so, that permitted me to short.
however, i think my SL maybe taken out, in that case i will re-assess.

re-assess what ?
...yesterday closed above its LSH... so, buys rule in Dly... so what to do ?... go long.

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  • #976
  • Aug 17, 2016 1:41am Aug 17, 2016 1:41am
next up... EURUSD and GBPJPY

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  • #977
  • Aug 17, 2016 1:48am Aug 17, 2016 1:48am
lastly, i want to show the GBPJPY Daily... should Dly close above that LSH then buys rule in Dly but until then i recommend trading the Dly+1hr combo if u not already long in the 4hrs.

got to go now, will try and check-in later.
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  • #978
  • Aug 17, 2016 1:59am Aug 17, 2016 1:59am
Quoting timilehin
Hi Sunshine,please check the euraud attached it confirmed BUY but went otherwise,can you analyze d pair for d week/tomorrow? {image}
hi timilehin,

i pre-empted the 1hr close but have SL=PT for this 1hr trade based on D+1hr combo
the previous Dly buy is still open
Attached Image
  • #979
  • Aug 17, 2016 3:01am Aug 17, 2016 3:01am
Quoting sunshine
{quote} excellent observation and correct placement of the LSH line Woolfpol i hope u still in that buy trade bcz it is pointing higher... a 4hr close above that dotted line confirms trade direction. {image}
I am still in but now it is not good lets wait...
  • #980
  • Aug 17, 2016 3:10am Aug 17, 2016 3:10am
I am thinking about USD/CAD. They cross up LSH but weekly is down.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 68 KB
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