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Four Brothers Set Up
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Created: by pdhuey2000 Attachments:47

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Four Brothers Set Up

  #91 (permalink)
Elite Member
Atlanta, GA
 
Futures Experience: Intermediate
Platform: Ninja/ Metatrader
Favorite Futures: Eur/usd
 
Posts: 66 since Jul 2012
Thanks: 7 given, 67 received

other indications

my favorite set ups are when the break of the FB pattern or box coincides with a break of a s/r level like a pivot or prior day number or swing point.

I use a host of histograms that have never worked for me so i use them sparingly.

I'd say though that the trix on the elite downloads section and some others on that section are spot on usually.

hope this helps.

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  #92 (permalink)
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pdhuey2000 View Post
i am leaving the order on for euro pound and will have my stop at 44. I am going to take about 3/4 of a position here and I am leaving the desk. The set up is still strong so I will give it some room and hopefully when I check back it will have made a move.

though the market is still sleepy. I will take 10 pips and then secondary target will be 7800

thanks

my entry hasn't triggered yet for that one. Did you enter early? or just the difference between our brokers/exchange

Don't let money control you, control money!
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  #93 (permalink)
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euro pound


sorry, no my entry hasn't triggered yet either. that post was just to say the order is still on and how it will be traded should it be triggered.

ill be back later this afternoon thanks!

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  #94 (permalink)
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ok that makes sense, thanks for your input, have a good afternoon..its nearly diner time here yay!!!

Don't let money control you, control money!
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  #95 (permalink)
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EURUSD FB yesterday moved slightly up, and is now forming another just above the previous one.

With pound news coming up soon we'll have to wait and see how things will go

Don't let money control you, control money!
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  #96 (permalink)
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another on the GBPUSD has formed but again with GBP news in an hour I will wait

Don't let money control you, control money!
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  #97 (permalink)
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EurUsd

Hi Beng:

You are catching good patterns.

I wil be around today in the NYC session, nothing for me yesterday wasnt near my screen.

IF there are any questions I missed please PM me or post - thanks,

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  #98 (permalink)
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eurusd FB pattern 8R

thanks

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  #99 (permalink)
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Its fairly easy to see patterns, but I think in order to make this a more successful strategy some things might need to be tweaked. Sometimes it happens that it goes either slightly up or down, and then heads the other way. So lets say I had entered 2 pip under, it could then be triggered leaving me with a loss as it would pull up and hit my sl.

I think as you said this is mainly a reversal entry, but could be used either way.

I wont be here the whole of NY session but will be around for a bit.

Don't let money control you, control money!
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  #100 (permalink)
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eur/usd


Tweaks should be made by the trader / that's the only way to trade either a pattern set up or level set up. And make yourself comfortable with it. I can always tell you what I do, but what your do is actually more important. And I say that with alot of respect. I will almost certainly guarantee how I see the market and how you see the market is very different. Even though we are talking about the same setup.

When in doubt, lower your position size and put the stop on the other side of the pattern. That's a reasonable solution to an age old pattern.

With any "break from consolidation" pattern certainly the age old problem is when to enter. Here's a couple of items that might help should you trade this or any other pattern.

Do you want to trade the immediate break or wait until price pulls back into the zone then enter at some designated point? I trade the inital break accepting most times price will pull back into the zone, i try to pull 10 points out of the market before that happens.

You are identifying the pattern well - we'll keep working on the rest. I have alot more to share with everyone.

Thank you so much for your efforts and support.

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