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H4_EUR_USD

 
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danielfowler91

H4_EUR_USD

Any thoughts? Advice or comments?

 

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2015_04_03_Lets_How_I_do.png92.62 KB
Sat, 03/28/2015 - 5:46pm
 
hakchinoy

I've checked out this setup multiple times, and I still don't get it. Please elaborate more, and then I'll follow up.

 
danielfowler91

I placed a fib from 1.1350 to 1.0500 and I think .618% fib looks like 1.1030
As far as the two T/P. I have trouble picking a direction. I am trying to use the MACD.
If you read this in time. GBP/AUD_M30 = 88.6% fib at 1.93813 and be mindful of the First hour I.B. of L.O.B. near the 1.93500 B.R.N.
Thanks, Hak

 
danielfowler91

Save some time

 
danielfowler91

IMAGE

GBPAUDM30_886 maybe.png
 
danielfowler91

Double Top, possibly.

 
hakchinoy

On E/U, I noticed that a pin-bar formed on M1 (@ 08:24), an inside bar breakout on M5 (MC @ 08:20), a pin-bar formed on M15 (@ 08:15), and price was near a reversal zone on H1. However, I saw such a strong (short-term) downtrend on H1 and H4, that I was convinced the the upward move was temporary, and PA reversed (resumed downward push) while I was typing this.

News now and in 5 min.

Unless something extremely favorable to EUR comes out, then I suspect that the downward move probably will continue.

 
hakchinoy

PA pushed tested the 50% fib level, and it's near a support that the MMs like to use. If PA were to push lower, then I don't see much in its way for a while, but I suspect the market will try to retest that 50% fib level as a resistance this time (at least before doing anything else).

I didn't see a double top for G/A (at least not a convincing one). Since I'm more familiar with H1 than M30, I also checked out the H1 chart for other observations. Price paused in between 2 consolidation zones, and currently is moving upward. I think the market will pick 1 of those 2 zones, continue to consolidate for a while, and then resume the uptrend (assuming a news event doesn't trigger a reversal).

gaSetup-2015.03.31.png
 
danielfowler91

This week

Week_END_2015_04_10.png
 
danielfowler91

Next we will look at the NZD/CAD with MTF.

 
danielfowler91

Sorry, no time for MTF. Allergies are killing me.

NZD_CAD__H4_2015_04_10.png
 
hakchinoy

That ascending triangle (on E/U), along with the forming platform of prices, is an area of confluence and a strong signal of a potential reversal (upward).

A symmetrical triangle is forming within an uptrend channel on D1 for N/C. That channel essentially is the recovery phase of a bullish move on W1; price is near the R; and a breakout above that R would usher in a new growth phase for that uptrend. With all of that in mind, price appears to be near an area of confluence, and I expect PA to continue trending upward (at least intermediate- and long-term). Short-term, I expect PA to remain within that triangle for at least for the remainder of today.

ncSetup-2015.04.06-1.png ncSetup-2015.04.06-2.png ncSetup-2015.04.06-3.png
 
hakchinoy

Upon second thought, . . . my curiosity about that N/C trade setup has grown (and continues to grow). Although I don't plan to place any trades yet, I'm contemplating about making a move tomorrow (or later this week). I want to see the following: 1) the market breaks that trend-line R, 2) the market retests that trend-line as a S, and 3) the market breaks that horizontal R.

 
danielfowler91

CAD/JPY M30 @ () Looks like a Trend Break. If it breaks the 95.50 then there maybe more down side. Of Course, the higher probability trade is of a trend continuation. Fundamental Bias is essential or MACD sightings (IDK...I do NOT use it as much as I should :()

Hope this help and KICK some PIP !

CADJPYM15_Looks LOWER_maybe.png
 
danielfowler91

There could be a break this week of the trend line and maybe a little bounce here off this level.

EUR_USD_H4_2015_04_11.png
 
hakchinoy

I'm still bearish on E/U until the market gives me a reason to become more bullish.

 
danielfowler91

H4_EUR_USD

EUR_USD_H4_2015_04_25.png EUR_USD_H4_2015_04_25_   _2.png
 
hakchinoy

I'm trading off a similar setup--only off H1 (as my controlling TF).

 
danielfowler91

NICE !

EUR_USD_H4_2015_05_09.png
 
danielfowler91

Is anyone placing Sell Limits around 1.12000?

EUR_USD_H4_2015_07_11.png
 
danielfowler91

or Sell Stops below 1.10000?

EUR_USD_H4_2015_07_11_further pullback may or may not occur.png
 
hakchinoy

Yesterday while in the "Long-term Trading" discussion, I mentioned that a H&S might have been forming on H1 (and on H4) for E/U. The H&S did form, and I chose to enter in an area of confluence (M15 bull hikkake + M5 trend line S b/o + reversal off M15 down channel R) off M1. I managed the trade off a combination of M1 and M5.

I still am not 100% confident about trading H&S patterns, because I've crashed and burned spectacularly at least 10 to 20 times, while learning to trade this pattern, before I traded it successfully for my first time. This was my third successful attempt. Yet, I still have more to learn about trading this pattern, and I incurred several cuts and bruises while trading it this morning.

euSetup-2015.07.28-1.png euSetup-2015.07.28-2.png
 
danielfowler91

Do you have any code (.mq4) that can help to spot them? I will see what I can find.
It is much like S & R in that there is a Potential Reversal Zone or an "area" of Support and Resistance. Sounds familiar "how long is a 'piece' of string?"

Honestly, doji's help me to SEE the market the code that I have seen for doji's was off. Too many false signals or filtered out what I was really after.
I will find some code.mq4 on H & S.

https://zerodha.com/expert-advisors/code/bullish-homing-pigeon

I got to get back to C# :)

First_Signs of H and S.png EURUSDM15_Lower_Lows.png
 
hakchinoy

I haven't looked for any code to help spot them yet. :-) I tended to shy away from them for a while, because I had such terrible experiences with trading them for so long.

 
danielfowler91

OHHHH, that is why my trade statistics are terrible :(

 
danielfowler91

As your friendly-neighborhood "Monday Morning Quarter back." I would like to point this out...

I would even call this a H and S.JPG
 
danielfowler91

Lastly, it looks like the CAD rolled over around 1.30. Speaking of the distrust, Have Caution! sell-side USD until September 16th --- then things may change.

 
hakchinoy

I'm not sure I got why you highlighted that double top with the solid, blue rectangle. I initially thought you might have been trying to point out a prior H&S setup; however, your follow up comment (posted 6 mins later) led me to believe my previous assessment was wrong.

Incidentally, I independently, also was watching that setup, and I passed on it, because I expected to see the retrace--that we did get. Now, a bullish inside bar has formed on H1 for that pair, but that potential breakout also would occur near a key H1 R, which also happens to be a strong reversal zone. So I'll observe this particular setup some more hoping to see the momentum increase. If I still like what I see, then I'll set up for the breakout slightly beyond (or above) that H1 R.

 
danielfowler91

I hope this visual aid helps for the Head & Shoulders && Inverse H & S. Still looking for some GOOD .mql4 code to help. I have a lot of bits and pieces that I am trying to work through for you. I would like to give credit to the author but IDK, where I got it from?

EXAMPLES OF PATTERNS (1).gif
 
danielfowler91

How did that work-out?

 
hakchinoy

Nice diagram. :]

 
danielfowler91

2015.08.16-21

LowerHigh.png