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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

  #31 (permalink)
MATrader
Prague Czech Republic
 
Futures Experience: Beginner
Platform: S5 Trader, Jigsaw, SeasonAlgo, Sierra Chart
Broker/Data: IB/OEC
Favorite Futures: Eurex Futures
 
hadamkov's Avatar
 
Posts: 489 since Nov 2011
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pdhuey2000,

I love your setup.
I am not a live trader, just a chronic observer of the market...
I have observed this behavior on my favorite instrument, too. I usually watch it form and then check GomCD reading to know what is happening inside the whole range, especially the last forming bar/bars. I use GomCD but I think that is unimportant, I think you can check other indicators' reading to find out where the market can go afterwards. Have you ever tried it?

Anyway, thanks for sharing your style.

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  #32 (permalink)
Elite Member
Atlanta, GA
 
Futures Experience: Intermediate
Platform: Ninja/ Metatrader
Favorite Futures: Eur/usd
 
Posts: 66 since Jul 2012
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Good Example of Retest Entry

I'm a little sluggish right now so can't write a manifesto about this, but here's a classic break of a FB (consolidation) then a retrace to bottom of the pattern (retest) - almost to the tick price stop and reverses.

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Four Brothers Set Up-euroretest-8-range-8_6_2012.jpg  
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  #33 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
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very good so far -but your model is missing a few things as fo yet - the forcasting of future magnet zones and also real live entries -
now you realize with this system calling entries even 5 min ahaead of time can be certain death -

so when you have time can you or 1 of your 3 brothers do some live calling for us -or maybe a webinar -

also i still cant wait to see this tested with real money and size - you cant spend verbage -

keep up the good work

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #34 (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

live calls and so forth

Hi creekboy,

yes thanks for the feedback, I am working on adding posting into my searching for entries I am not in a hurry so as this progresses more posts will be geared to calling my entries / patterns in advance. The simple task of even posting is new to my process so its adaptation as part of my routine is a variable in my trading right now. That's a fancy way of saying I still need to get the hang of it.

I appreciate the feedback alot, thanks!

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  #35 (permalink)
Trading Apprentice
Reading, PA
 
Futures Experience: Beginner
Platform: think or swim
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Posts: 14 since May 2012
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1 min chart es . The importants of knowing the magnet areas .

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Four Brothers Set Up-2012-08-06-tos_charts.png-1.png  
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  #36 (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

magnet areas.

How do you determine where the magnet area's are in your trading? Are those fractal lines?

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  #37 (permalink)
Elite Member
Atlanta, GA
 
Futures Experience: Intermediate
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Posts: 66 since Jul 2012
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Trade set up pound/usd

Please see chart:

My entry will be 1.5622 which is 78% ret. according to our old friend Fib.
Stop below pivot around 5597. I will trade half a position size with a target back to the swing at 5680 ish.

I like the confluence - I like retests of 4 b's, I like that price seems to be flowing up today on the pound.
I like the lower level support that is resting above my stop.

I don't like that I am trading against a market where both fractals trendlines are above me.
I don't like that the Euor is being such a fu''k''g pain today.
I don't like how far the market is from my entry right now, that's alot of thinking time which is never a good thing.

Big Ben will be speaking later always a concern.

Anyway hope this helps an questions please post.

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Four Brothers Set Up-gbpusd-iwmeanrenko-12-ticks-8_7_2012.jpg  
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  #38 (permalink)
Elite Member
Atlanta, GA
 
Futures Experience: Intermediate
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Favorite Futures: Eur/usd
 
Posts: 66 since Jul 2012
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S to R and R to S

One of the first things we learn as traders is how to read the market with support/resistance - or supply demand, this is very basic, but almost like the Bible as a metaphor very complicated and the lessons seem to be never ending - and evolve as you evolve as a trader. A severe problem that I have in my own trading is trusting what I see. Which is one reason why I take my chart reviews seriously because I am constantly trying to evolve as a trader.

In this chart we can revisit the lesson we all have learned, that valid support becomes valid resistance.

IF we start from left to right on the chart, we have a nice four b's pattern emerging overnight price continues down,
then we get a retest of the bottom of that very same 4b's pattern. we can now say that this congestion level is valid.

Price finds a bottom and rises through the congestion zone we have validated that being our 4b's pattern, price fails to reach the 00 level then falls back into our congestion area, reversing (twice) at are validated level and makes a healthy move up towards the 2430 level. We now have a swing in my opinion and our old friend fib may help us build confluence.

Price begins the decent yestersday morning into the overnight session and finds support (again) at our validated level which also is around the 61% retrace level. Nice confluence!

Interestingly price shreds a retest of another 4b's pattern on its way back up, but this level holds (relatively speaking) when price returns from its test of the swing at 1.2428. In reality if i traded that retest i most likely would be stopped out. And re-entering would have been not clear. I probably would've been pouting.

I hope this helps and please follow with any questions.

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Four Brothers Set Up-eurusd-8-range-8_7_2012.jpg  
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  #39 (permalink)
Elite Member
Atlanta, GA
 
Futures Experience: Intermediate
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Favorite Futures: Eur/usd
 
Posts: 66 since Jul 2012
Thanks: 7 given, 67 received

AUD/JPY

there's a FB pattern setting up that I will trade in either direction. I prefer the up side break but oh well.

I like the tight pattern, I like the resistance area with prior day's open and prior high. This area pushed the market down once before, if we break higher this will be a good support area for a retest entry.

Ill be trading full size with half off at 10 if I get it.

hope this helps.

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Four Brothers Set Up-audjpy-iwmeanrenko-12-ticks-8_7_2012.jpg  
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  #40 (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

update on Trades


Pound holding on but not looking great.

Audjpy - I got plus 10 on half and got stopped out on a spike. Too bad because the trade moved down nicely after.

thanks

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