Looking for move down after bounce off of 365, fib 50, daily R1, and trendline. Good US fundamentals. Watch MACD for downward retrace.
PIP well.
Dion
PIP well.
Dion
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DislikedHi pips, i thought it was 89 SMA (SIMPLE) . EMA would be Exponential.No?hmmmm. Please reconfirm. Thankyou. Also thankyou for your support and kind words. Always appreciated. Have a great weekend.
Nadia.Ignored
DislikedHi all
I think the G/U forming lower high or it can be double top (I think we can call it double top as phillip rules said :Double Tops, Double Bottoms are formed at major resistance and support ) if the present candle and macd end by this way .. we have 89 and 365 and also 4h trend working as a strong Resistance and if the present candle end by this shape this will present evening star so I think it will be good short trade and the stop loss will be just above the 365 and the profit will be 1: at 89 2: between 8 and 21 ... any comments ..
Best wishes
ammarIgnored
DislikedIf >> if yes .... then x
not ...
x: short
hahaha .. this is the most strong point in this strategy .. waiting the candle to complete and the macd giving the signal .. so now every thinks is changed at least until now .. waiting
Abo ammarIgnored
DislikedI am using this 4 Hour strategy only for the last month as I have papertraded for 2 years trying everything and or system I could find. (I am trading equities for almost 10 years)I have decided that I will only go live(after some losses-not to serious) after I have studied the field of forex and are satisfied that I have a system that works. I do believe that we are trying to make it to impressive and difficult. This system is simple and easy to understand. I have backtested and forward tested it over more than 200 trades and it gives 300+ pips per month. I never had more than two consecutive losses. I never use a stoploss bigger than 50. There are enough chances to ignore the ones bigger than 50.
I am using this strategy only on the EurUsd and the GbpUsd. Have not tested it on other.
I hope that you will find some use for it and that it put you on the road to financial independence.
EDIT: For a summary of the 4 hour system go to page 289 Post 4335.Ignored
DislikedCould you please comment my following deal?
I saw zero bounce on 4H. Price moved in the channel. Previous candle made nice down tail. Upper trend. Price stopped on the 21EMA. (see first picture)
So I decided to make long trade. First target had been about 25 pips, then I was going to make BE and wait for the second target - upper border of channel (~60 pips). I planned to set SL below the tail of the signal candle (also SL was below 1.21 level and below 21EMA).
Price: 1.2124
SL: 1.2097
FT(first target): 1.2149
ST: 1.2170
R:R - 25:27 (OK)
But price turned back and my SL was hit.
What I missed in my analysis? Was it my mistake or system error?
Thank you
MaxIgnored
DislikedI was a risky trade remember that Phillip says that the zero line rebound or crossing is not a signal to enter I think you needed to wait a candle for confirmation.
You could catch it with a TP lower, that happens sometimes even for 1, 2 or 3 pips you miss some trades.Ignored
DislikedI was a risky trade remember that Phillip says that the zero line rebound or crossing is not a signal to enter I think you needed to wait a candle for confirmation.
You could catch it with a TP lower, that happens sometimes even for 1, 2 or 3 pips you miss some trades.Ignored