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4 + 1 (Metals) strategy

  • #4,041
  • Apr 26, 2020 12:31pm Apr 26, 2020 12:31pm
27 April 2020


H1: Bullish and Buy Zone: 1724.01 - 1726.00
H4: Bullish and Buy Zone: 1718.90 - 1710.36
D1: Bullish and Buy Zone: 1687.38 - 1655.07


Intra-day Levels
Monday
Upside
1756.32
1750.22
1740.33
1734.21
Downside
1725.16
1720.35
1714.42
1708.30
1698.44

Weekly levels(27 April 2020 - 1 May 2020)
Upside
1787.20
1757.04
1738.48
1715

Downside
1708.25
1678.09
1659.46
1629.30


Green Pips
4&1 All Time Profit: $37,496
  • #4,042
  • Apr 26, 2020 11:50pm Apr 26, 2020 11:50pm
27 April 2020


Bit of a gap lower on the weekly open but already filled out and the second downside level for the Day has offered supportive price action.... as such price also testing that upper band of the H4 buy Zone, as mentioned given that sharp sell off into the lower band of the H4 buy Zone on Friday, and looking at how price has behaved till now, with the H1 turning neutral to bearish, we can expect a deeper pulback towards Fridays lows before we get going again, so position size and entry management become key at this moment... An H1 close above the 1725.16 handle will be a good sign for bulls and also the H1 zone for clarity, till that happens, we can expect the deeper pullback...



Green Pips
4&1 All Time Profit: $37,496
  • #4,043
  • Apr 27, 2020 3:20am Apr 27, 2020 3:20am
Update: H1 price failed to get back above the 1725.16 handle despite bounces off of the 1720 handle, as such most recent dip has also flipped the H1 zone bearish ever since breaking out, lets wait and see what London opening hour does relative to the H1 Sell Zone and position and time the next entry.

H1; Bearish and Sell Zone: 1721.92 - 1722.73

(i) Circled crossover of the H1 sell zone moving from neutral to bearish
(ii) Need an H1 Close above this area for bullish continuation failing which we wait for price to revisit the lower band of the H4 buy Zone.

Green Pips
Attached Image (click to enlarge)
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4&1 All Time Profit: $37,496
  • #4,044
  • Apr 27, 2020 4:02am Apr 27, 2020 4:02am
Update:
Bullish London Opening hour.
H1 needs to flip bullish and close above the 1725.16 and respect the level as support before we can load next set of longs.

Green Pips
4&1 All Time Profit: $37,496
  • #4,045
  • Apr 27, 2020 9:11am Apr 27, 2020 9:11am
Update:
pending buy order @1704.02
SL 1695
TP Open.



Green Pips
4&1 All Time Profit: $37,496
  • #4,046
  • Apr 27, 2020 3:23pm Apr 27, 2020 3:23pm
Update:Couple of retests of the H1 sell zone after failing to close above that key level we highlighted for bullish continuation at 1725.16 selling into the H4 buy ZOne and supportive price action from the H4 buy Zone offered support, as such price kept bouncing, and now there is a huge tussle between the H1 and H4 Zones...


Looking to see where the daily closes, above 1710 then there is still good support for those H4 buy ZOnes...

H1 Chart
(i) Three retests of the the H1 Sell Zone
(ii) Crossover serving as confirmation signal for shorting.

Green Pips
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4&1 All Time Profit: $37,496
  • #4,047
  • Apr 28, 2020 12:07am Apr 28, 2020 12:07am
28 April 2020

Well, the D1 closed in good territory but the H1 sell zone has seen us push below the daily open and also below the psychological handle at 1700, as such deeper pullback and this sets new tasks for the overall bullish outlook on the cross, 1708.50 becomes integral level and would need to begin seeing H1 and H4 closes above that handle. Worth mentioning is that the D1 buy Zone is hovering a couple of pips just below the current price, as such will be looking for some bullish continuation at current levels.

H1: Bearish and Sell Zone: 1708.15 - 1712.78.
H4: Bullish with Neutral Bias: 1711.88 - 1714.13.
D1: Bullish and Buy Zone: 1690.57 - 1662.85.

Intra Day Levels

Upside
1736.38
1728.42
1726.81
1723.50
1716.67
Downside
1707.57
1702.65
1694.68
1685.26
1679.83

*Price has already cleared some of the downside levels for today and as such we use them as resistance points going forward

H1 Chart: Given where price is on the Daily chart, the H1 RSI is finally in " oversold" territory and while this doesnt suggest an automatic reversal, we would need to begin seeing it point up or begin having some bullish RSI while the stoch also looks to turn upwards.But patience is needed for confirmation...

Green Pips
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4&1 All Time Profit: $37,496
  • #4,048
  • Apr 28, 2020 3:56am Apr 28, 2020 3:56am
Update: Indecisive London opening H1 hour, as such till we breach and close above the 1708.50, then we can expect further weakness in price.

As such, it becomes safer to wait and look out for a bullish H1 confirmation signal inside the D1 buy zone...


Patience
4&1 All Time Profit: $37,496
  • #4,049
  • Apr 28, 2020 4:32am Apr 28, 2020 4:32am
28 April 2020


Back above the 1700, Back above the 1708.15, as such both levels need to hold and the next objective is to get back above 1716.67 on an H1 close provided the two prior levels hold as support . Intresting to see bullish impulse wave following the touch and retest of the D1 ZOne, but unil all three zones are in synch, ie the H1 Zone also remains bullish, then the risk is that there will continue to be choppiness...

Green Pips
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4&1 All Time Profit: $37,496
  • #4,050
  • Apr 28, 2020 5:33am Apr 28, 2020 5:33am
Update:
1708.5 still not breached on an H1 and H4 close and price now inside the H1 sell zone, as such, may need to exercise some patience for the Bulls.

With that said, immediate support sits at 1702.62.
As such any dips into that area or towards that area become buy dip opportunities


Green Pips
4&1 All Time Profit: $37,496
  • #4,051
  • Edited 8:25am Apr 28, 2020 6:43am | Edited 8:25am
Update: Bullish H1 candle close above the 1708.50....Buy Dip mode in swing, next target is at 1716.67.


Green Pips
4&1 All Time Profit: $37,496
  • #4,052
  • Apr 28, 2020 9:11am Apr 28, 2020 9:11am
Quoting MzansiObi
Update: Bullish H1 candle close above the 1708.50....Buy Dip mode in swing, next target is at 1716.67. Green Pips
Point A remains the key for further bullish continuation, the H1 close below 1700 and failure to use previous levels as support is a red flag, as such we need to exercise more patience.....


Green Pips
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4&1 All Time Profit: $37,496
  • #4,053
  • Apr 28, 2020 11:38am Apr 28, 2020 11:38am
Update: Pending Buy Order

1698.58
SL 1688
TP OPen

Green Pips
4&1 All Time Profit: $37,496
  • #4,054
  • Apr 28, 2020 3:24pm Apr 28, 2020 3:24pm
Update: for perspective, we can see how the 1708.50 handle that we focused on intra day became a focul point and also how price has pulled and sort of stalled around this handle, as mentioned this handle holds the key for the next direction that price is going to take, also worth noting is how that same level was fridays HnS target for the M15 chart, as such there is tons of confluence here....

Point A signals the H1 200 handle and every H1 clsoe above it is good for bulls in that it serves as support and also deviates the direction of the H1 sell zone from being full on bearish to being neutral, lets see if the daily bulls can kick in and clear the 1708.50 handle..



Green Pips
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4&1 All Time Profit: $37,496
  • #4,055
  • Apr 28, 2020 5:17pm Apr 28, 2020 5:17pm
29 April 2020



Well although its a bearish daily close, the daily close was above the 1700 handle and also above 1704.50 which is where the H1 200 MA is, as such the H1 Zone has got a neutral bias around it and seems to me, its also stopped making new lower lows, as such given where price is relative to the D1 buy zone, and the rejection from the D1 buy zone retest, its only a matter of time before the 1708.50 handle breaks and makes a new high, as such barring an H1 close below the 1690 handle, any dip in price more specifically in the D1 zone becomes a valid buy signal.



H1: Bullish and Buy Zone: 1707.94 - 1706.34
H4: Neutral
D1: Bullish and Buy Zone: 1694.48 - 1665.76.

Intra day levels of interest
Upside
1737.50
1730.11
1720.66
1714.82
1710.49
1707.06

Downside
1704.13
1695.93
1690.09
1680.65
1678.35



Green Pips
4&1 All Time Profit: $37,496
  • #4,056
  • Apr 28, 2020 5:20pm Apr 28, 2020 5:20pm
Quoting MzansiObi
29 April 2020 Well although its a bearish daily close, the daily close was above the 1700 handle and also above 1704.50 which is where the H1 200 MA is, as such the H1 Zone has got a neutral bias around it and seems to me, its also stopped making new lower lows, as such given where price is relative to the D1 buy zone, and the rejection from the D1 buy zone retest, its only a matter of time before the 1708.50 handle breaks and makes a new high, as such barring an H1 close below the 1690 handle, any dip in price more specifically in the D1 zone becomes...
Lets not loose focus of the overall picture....
Point (i) showing the touch and retest of the D2 buy zone and the rejection of that handle.
Inverse HnS setup still valid.....



Green Pips
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4&1 All Time Profit: $37,496
  • #4,057
  • Apr 29, 2020 12:23am Apr 29, 2020 12:23am
Update: Price sitting at a critical stage now, H1 Zone beginning to slope upwards and also since the break and close above the 1708.5 price has managed to use price as support, needs to hold and break higher before or during LO session for further continuation, patience


Green Pips
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4&1 All Time Profit: $37,496
  • #4,058
  • Apr 29, 2020 7:31am Apr 29, 2020 7:31am
Update: Plenty of indecision since the London open the the bearish engulfing bar couldnt break support at the bottom of our consolidation box and instead we have had another bullish engulfing candle that has engulfed all three other prior candles, including the LO hour, as such, given yesterdays PA and the bounce from the D1 buy zone and the daily close above the psych level, i am looking for the breakout to the top to challenge those mid 1720s, stops for bullish outlook will be a little tighter around the 1697 handle..
Green Pips
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4&1 All Time Profit: $37,496
  • #4,059
  • Apr 29, 2020 7:44am Apr 29, 2020 7:44am
Quoting MzansiObi
Update: Plenty of indecision since the London open the the bearish engulfing bar couldnt break support at the bottom of our consolidation box and instead we have had another bullish engulfing candle that has engulfed all three other prior candles, including the LO hour, as such, given yesterdays PA and the bounce from the D1 buy zone and the daily close above the psych level, i am looking for the breakout to the top to challenge those mid 1720s, stops for bullish outlook will be a little tighter around the 1697 handle.. Green Pips {image}
Point (i) showing the LO indeciison candle, been another option could be to wait for a break out on either side before getting into a position....


With that said, pending buy order
1703
SL 1697
TP Open


Green Pips
4&1 All Time Profit: $37,496
  • #4,060
  • Apr 29, 2020 1:14pm Apr 29, 2020 1:14pm
Update: Bulls seem to be lacking at the moment, there are multiple signs of a bullish continuation but price keeps failing ti stay and break that 1708.50 handle, as such watching the daily close to see where it closes relative to this handle....
Still net bullish on the cross....
4&1 All Time Profit: $37,496
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