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Four Brothers Set Up


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  #61 (permalink)
 pdhuey2000 
Atlanta, GA
 
Experience: Intermediate
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i did short at 22. only a 1/4 position. holding target open stops above 38

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  #62 (permalink)
 pdhuey2000 
Atlanta, GA
 
Experience: Intermediate
Platform: Ninja/ Metatrader
Trading: Eur/usd
Posts: 66 since Jul 2012
Thanks Given: 7
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If we get a push down on euro perhaps the better more patient trade will be a retest of the trend swing area, thought behind this is if we are moving down price action may get slutty around the 2300 level.

If we see price movement similar to how my arrows are drawn I will be trading heavy short around the retest of that trendline, i would really like to see a bearish reversal candle there.

For now holding 1/4 short.

The ej just made a decent push short, so we will see.

hope this helps someone.

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  #63 (permalink)
 pdhuey2000 
Atlanta, GA
 
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Trading: Eur/usd
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Hindsight, take with grain of salt.

But we had some great set ups on the 8R today for EJ.

Chart posted.

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  #64 (permalink)
 pdhuey2000 
Atlanta, GA
 
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trendline / swingpoint held. perhaps the bounce will get me long above 50. Im glad i traded only a quarter position.

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  #65 (permalink)
 
BenG's Avatar
 BenG 
London/UK
 
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Thanks for all of these great posts. This looks like a straight forwards system, with lots of potential to earn us traders a decent profit. I put the 8 range bars on MT4, doesn't always look as nice, but they're clearly there. A good example is the EUR/USD yesterday between 5:30pm and 6:20pm GMT. It looks as if the EUR/USD tries t push back up, but we'll see. Great to find some more currency traders, as thats what I do. Although reading about future trading it def sparks interest. But currently still using MT4, looking to upgrade to NT at some point soon. Either way keep posting, its been of great help.

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  #66 (permalink)
 pdhuey2000 
Atlanta, GA
 
Experience: Intermediate
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Trading: Eur/usd
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Thanks BenG for the support.


I am looking at an extended slop between s1 and s2 on the Euro 8R chart. I will take a shot at a breakout trade.

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  #67 (permalink)
 
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 BenG 
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eurusd has been a very choppy market so we'll see where it wants to go today.
It was down earlier after a bit of indecision. keep posting them charts.

I managed to get the 8 range bar on mt4, so this set up should be easy to follow for me.

earlier we had the usdchf forming a FB, and currenty the eurgbp is also forming a FB..

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  #68 (permalink)
 pdhuey2000 
Atlanta, GA
 
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Trading: Eur/usd
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BenG nice find.

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  #69 (permalink)
 pdhuey2000 
Atlanta, GA
 
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I just made that name up right now, but doesn't it look like a dinasour?

Anyway, i guess the texts would call that a flag pattern. If we break down i will go heavy long at 97.50. If we break to the upside i will put a normal trade size on.

thanks beng, wouldn't have looked at the swissy without your contribution.

much appreciated, i hope you make some pips today.

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  #70 (permalink)
 
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 BenG 
London/UK
 
Experience: Intermediate
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Also that level where the EURGBP is at is also been a great support level if you look at a higher time or just zoom out.
I be inclined to think this will continue down as well, but we'll just have to wait an see..time will tell.

Don't let money control you, control money!
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Last Updated on July 3, 2013


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