Forex Price Action - Page 308
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  1. #3071
    Join Date
    Aug 2011
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    Bangladesh
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    95
    Quote Originally Posted by wildanz90 View Post
    Hello guys,

    look at this chance... the nice PA form at the resistance.. take a look bro
    Attachment 30392


    regards,
    willy
    Brother its against the daily trend so wait and be patient.

  2. #3072
    Join Date
    May 2012
    Location
    Herts, UK
    Posts
    199
    Quote Originally Posted by jui25 View Post
    Brother its against the daily trend so wait and be patient.
    But Wildanz was talking about 4H-chart, not a daily, on 4H we have a clear down-trend (lower lows + lower highs), on daily up-trend (the other way round), so why do you mix two timeframes?

    It's been pointed here so many times to enter and manage the trade on one TF, and on 4H this would be taking it from a swing high, right?

    The most we should be expecting from a PA signal is to get to first trouble area, so what is wrong with this trade idea apart from the bar not being closed at the time of posting! and now effecting in EB not closing in the lower 1/3rd of the bar?

    If it closed as a proper BEEB it would be tradeable in my humble opinion...
    Could someone throw a bit more light on the above analysis please?

    USDCHF H4
    Name:  USDCHF-H4.png
Views: 5572
Size:  16.0 KB

    Fil.
    Last edited by filipl; 08-10-2012 at 01:21 PM.

  3. #3073
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    Aug 2011
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    Bangladesh
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    95
    Although its direct to the support zone. plz see this USDCHF 4HRS

    Name:  USDCHF.jpg
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Size:  19.6 KB
    Last edited by jui25; 08-10-2012 at 06:29 PM.

  4. #3074
    Join Date
    Feb 2011
    Location
    Latvia
    Posts
    278
    Quote Originally Posted by filipl View Post
    But Wildanz was talking about 4H-chart, not a daily, on 4H we have a clear down-trend (lower lows + lower highs), on daily up-trend (the other way round), so why do you mix two timeframes?

    It's been pointed here so many times to enter and manage the trade on one TF, and on 4H this would be taking it from a swing high, right?

    The most we should be expecting from a PA signal is to get to first trouble area, so what is wrong with this trade idea apart from the bar not being closed at the time of posting! and now effecting in EB not closing in the lower 1/3rd of the bar?

    If it closed as a proper BEEB it would be tradeable in my humble opinion...
    Could someone throw a bit more light on the above analysis please?

    USDCHF H4
    Name:  USDCHF-H4.png
Views: 5572
Size:  16.0 KB

    Fil.
    Yeah, but, imo, daily trend should be the priority. For example, I'm drawing all the res/sup lines on daily TF as well as determine the bias of the trend. For me H4 TF is only used for PA signals if I don't see any on D1 TF. Ofcourse if I enter trade on H4, then I manage it on H4 (S/L and T/P).

    Richard
    Last edited by FaRS; 08-10-2012 at 07:32 PM.

  5. #3075
    Quote Originally Posted by FaRS View Post
    Yeah, but, imo, daily trend should be the priority. For example, I'm drawing all the res/sup lines on daily TF as well as determine the bias of the trend. For me H4 TF is only used for PA signals if I don't see any on D1 TF. Ofcourse if I enter trade on H4, then I manage it on H4 (S/L and T/P).

    Richard
    I agree with filipl that the trend in the 4hr is down so you can take that short BUT looking at the Daily, you have to treat it as a retracement down of the daily (BTW, I'm talking about the very near term trend of the Daily not the primary nor the intermediate), so it is still valid, just be wary that the move to the downside might not be that extended. Just set your TP to the previous high, a little bit lower than the line jui25 posted.
    Last edited by Sicnarf; 08-11-2012 at 03:28 AM.

  6. #3076
    Quote Originally Posted by FaRS View Post
    Yeah, but, imo, daily trend should be the priority. For example, I'm drawing all the res/sup lines on daily TF as well as determine the bias of the trend. For me H4 TF is only used for PA signals if I don't see any on D1 TF. Ofcourse if I enter trade on H4, then I manage it on H4 (S/L and T/P).

    Richard

    Hi Richard this is exactly how I trade it too. I mark the relevant zones up on the Daily and will drill down to the 4 Hourly if price reaches these zones. I've marked out what I see is as the relevant Daily zones. Below:

    Name:  2012-08-11USD_CHF_Daily.jpg
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    Now if I then drill down to the 4 hourly price is in the middle of nowhere and certainly not at a zone I'd personally like to play.

    Name:  2012-08-11_2035.usd_chf_4_hourly.jpg
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Size:  27.0 KB

  7. #3077
    Join Date
    Mar 2008
    Posts
    117
    Quote Originally Posted by bhops View Post
    Hi Richard this is exactly how I trade it too. I mark the relevant zones up on the Daily and will drill down to the 4 Hourly if price reaches these zones. I've marked out what I see is as the relevant Daily zones. Below:

    Name:  2012-08-11USD_CHF_Daily.jpg
Views: 5441
Size:  29.1 KB

    Now if I then drill down to the 4 hourly price is in the middle of nowhere and certainly not at a zone I'd personally like to play.

    Name:  2012-08-11_2035.usd_chf_4_hourly.jpg
Views: 5371
Size:  27.0 KB
    Hi Johnathon,

    Can you please help to explain time frame issue and illustrate how to trade different time frame? We are here (in this thread) trading mainly 4 hourly and daily time frames which have triggered a lot of discussions and confusions. You have mentioned that we should trade each time frame independently but some how they are closely related.

    To me, I agreed with bhops's method that we use daily time frame (higher one) to determine the S/R levels. If there is no daily PA signal, then we go down to 4 hourly to look for PA signal. Those S/R levels determined at 4hourly time frame shall only be considered as a minor S/R level for marking multiple profit levels (T1, T2...) or stop loss levels.

    However, if we trade 4 hourly time frame, the SL, target must be set using 4 hourly perspective otherwise the target may not be reachable if we use the daily one. That's what I understand by "time frame independence".

    Pls comment on it!

    Regards,
    Toyogo
    Last edited by toyogo00; 08-11-2012 at 05:18 AM.

  8. #3078
    Quote Originally Posted by toyogo00 View Post
    Hi Johnathon,

    Can you please help to explain time frame issue and illustrate how to trade different time frame? We are here (in this thread) trading mainly 4 hourly and daily time frames which have triggered a lot of discussions and confusions. You have mentioned that we should trade each time frame independently but some how they are closely related.

    To me, I agreed with bhops's method that we use daily time frame (higher one) to determine the S/R levels. If there is no daily PA signal, then we go down to 4 hourly to look for PA signal. Those S/R levels determined at 4hourly time frame shall only be considered as a minor S/R level for marking multiple profit levels (T1, T2...) or stop loss levels.

    However, if we trade 4 hourly time frame, the SL, target must be set using 4 hourly perspective otherwise the target may not be reachable if we use the daily one. That's what I understand by "time frame independence".

    Pls comment on it!

    Regards,
    Toyogo
    Although I think you have pretty much got most of this yourself and although I am not Johnathon here is my take on it.

    In using either the 4 hourly or daily to get into a trade we are often using the SAME levels which we have most commonly marked off the Daily chart.

    But you are right even if you are using a level marked off the Daily but end up taking a trade off the 4 Hourly we would then chart our targets off what we are seeing on the 4 Hourly.

    But lets take the USD/CHF for example, if I do end up taking a trade from the 4 Hour charts wouldn't it make sense to trade it off a zone that has also got some historical significance on the Daily as well? That just makes it twice as powerful.

    I think we do agree on this but I just wanted to enforce what you are saying.

  9. #3079
    Join Date
    May 2011
    Location
    UK
    Posts
    270
    Quote Originally Posted by bhops View Post
    Hi Richard this is exactly how I trade it too. I mark the relevant zones up on the Daily and will drill down to the 4 Hourly if price reaches these zones. I've marked out what I see is as the relevant Daily zones. Below:

    Name:  2012-08-11USD_CHF_Daily.jpg
Views: 5441
Size:  29.1 KB

    Now if I then drill down to the 4 hourly price is in the middle of nowhere and certainly not at a zone I'd personally like to play.

    Name:  2012-08-11_2035.usd_chf_4_hourly.jpg
Views: 5371
Size:  27.0 KB
    This is my idea about this pair

    Name:  usdchf.jpg
Views: 5252
Size:  28.8 KB

    Any opinions?

  10. #3080
    Quote Originally Posted by fedegmail View Post
    This is my idea about this pair

    Name:  usdchf.jpg
Views: 5252
Size:  28.8 KB

    Any opinions?
    Yeah. We don't use Stochs or Trendlines But hey if you did dabble in those things along with the Bearish Convergence I guess you would be looking to get short.

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