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4 Hour Strategy (MACD)

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  • Post #26,641
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  • Jan 6, 2014 5:12pm Jan 6, 2014 5:12pm
  •  yaakruay
  • | Joined Feb 2013 | Status: Member | 482 Posts
Quoting Phillip Nel
Disliked
Trades today {file}
Ignored

Thanks Phillip...i caught the EU this morning and took a few pips..

It was nice to see you mark the area and talk about as i had already done it..

More confirmation of my understanding of "trading the rhythm in the direction of the market"
 
 
  • Post #26,642
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  • Jan 6, 2014 8:22pm Jan 6, 2014 8:22pm
  •  binnie
  • | Joined Dec 2010 | Status: invisible | 853 Posts
UPDATE:

Aussie spiked out for -30. Not sure why just yet ?? There was some news about Trade Balance 45 mins ago and that seems to have pushed me down & out. The upper T/Line( past Resistance now Support ) is holding again so still a possibility that Price needs to head to the 200 above.

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Kiwi was obviously dragged down by the Aussie even though I anticipated a drop back down to the 21 ma. Almost got there but since retraced. Now at B/Even +2 so no damage on this one

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  • Post #26,643
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  • Jan 7, 2014 12:16am Jan 7, 2014 12:16am
  •  Bkk
  • | Joined Apr 2013 | Status: Member | 93 Posts
Quoting binnie
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UPDATE: Aussie spiked out for -30. Not sure why just yet ?? There was some news about Trade Balance 45 mins ago and that seems to have pushed me down & out. The upper T/Line( past Resistance now Support ) is holding again so still a possibility that Price needs to head to the 200 above. {image} Kiwi was obviously dragged down by the Aussie even though I anticipated a drop back down to the 21 ma. Almost got there but since retraced. Now at B/Even +2 so no damage on this one {image}
Ignored
I got stopped out exactly the same on AUD. Why it has such hard time to break higher , possibly because it is bouncing off 21EMA on the daily? !... just guessing. ..
 
 
  • Post #26,644
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  • Jan 7, 2014 12:49am Jan 7, 2014 12:49am
  •  binnie
  • | Joined Dec 2010 | Status: invisible | 853 Posts
Quoting Bkk
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{quote} I got stopped out exactly the same on AUD. Why it has such hard time to break higher , possibly because it is bouncing off 21EMA on the daily? !... just guessing. ..
Ignored
How's it going BK - great to see you sharing with us. Welcome aboard.
You are probably quite right with the Daily 21 idea. Now the 89 is flat so I guess we are stuck in No Man's Land. Phillip may be able to enlighten us whether there is a trade possibility with this last bounce off the 89 using smaller T/Frames??? Otherwise, I will wait patiently for this Aussie to show his hand

My Kiwi got shut at +2 but I see that my target Price was actually touched but did not take me out at my +30. Bugger!! It too is flatlining with the 89 so I will wait here as well. My idea is to see a continue down as an M Pattern break / retest / move away. What do you reckon ??

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  • Post #26,645
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  • Jan 7, 2014 2:52am Jan 7, 2014 2:52am
  •  yaakruay
  • | Joined Feb 2013 | Status: Member | 482 Posts
Quoting binnie
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{quote} How's it going BK - great to see you sharing with us. Welcome aboard. You are probably quite right with the Daily 21 idea. Now the 89 is flat so I guess we are stuck in No Man's Land. Phillip may be able to enlighten us whether there is a trade possibility with this last bounce off the 89 using smaller T/Frames??? Otherwise, I will wait patiently for this Aussie to show his hand My Kiwi got shut at +2 but I see that my target Price was actually touched but did not take me out at my +30. Bugger!! It too is flatlining with the 89 so I will...
Ignored
Hi Binnie,

Great to see your charts again looking forward to learning from you again..

You mentioned the M its the first time i have seen that and i heard Phillip in a recent video talking about the W, so i thought i would post some extra information for people and me to read and get more understanding of what's going on.


Double Top Chart Pattern :
In a double top pattern; the upper trend line consists two similar or nearly similar high points and the lower trend line consist a low point. This low point of lower trend line lies between two high points that joined to draw the upper trend line. This pattern often called “M-pattern” as it looks like English letter “M”.
Trend line breakouts, uptrend line breakout and pullbacks of this pattern are very effective sell signal which is an entry signal to take a short position. Minimum possible price movement after breakout equals to the distance between two horizontal trend lines. Here is an example

http://inlineforex.com/wp-content/up...Double-Top.png

ps. this is all my own work and not blatantly copied from another resource (i have put the link but not sure if they are allowed..)
http://inlineforex.com/double-top-an...ersal-pattern/
 
 
  • Post #26,646
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  • Jan 7, 2014 3:32am Jan 7, 2014 3:32am
  •  binnie
  • | Joined Dec 2010 | Status: invisible | 853 Posts
Quoting yaakruay
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{quote} Hi Binnie, Great to see your charts again looking forward to learning from you again.. You mentioned the M its the first time i have seen that and i heard Phillip in a recent video talking about the W, so i thought i would post some extra information for people and me to read and get more understanding of what's going on. Double Top Chart Pattern : In a double top pattern; the upper trend line consists two similar or nearly similar high points and the lower trend line consist a low point. This low point of lower trend line lies between two...
Ignored
Cheers Richard - good hunting to find this. This M & W Pattern is one of the very 1st Price Action signals I followed when I was starting. Always believed it to be a valid signal but strayed away from it in my hunt for the PERFECT SETUP (LOL ). Now that Phillip is using it in a confirmation type way, I now spot the relevance it has in my way of trade hunting. In simple words - another pattern tool to help me out. What has changed in the way I will now look at this pattern is that I must wait for that B/Out - pull back - move away . Originally I would just enter on the breakout. As I understand it, these patterns are not that common & I am of the view that the really strong ones are at the top or bottom of strong runs. Hope this makes sense
 
 
  • Post #26,647
  • Quote
  • Jan 7, 2014 3:46am Jan 7, 2014 3:46am
  •  binnie
  • | Joined Dec 2010 | Status: invisible | 853 Posts
My Bedtime View:
Have put my idea of an M pattern breakout on hold meantime. 89ma is flat so looks like a consolidation . Have drawn a triangle / wedge on the H4 and this shows clearly on the H1 now. If we can get to the top again, price action might give a signal to ride a short to the lower support level. Just my ideas .

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See you guys tomorrow
 
 
  • Post #26,648
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  • Jan 7, 2014 7:25am Jan 7, 2014 7:25am
  •  trademin
  • | Joined Apr 2007 | Status: Member | 910 Posts
hi,

EURUSD :

On the daily chart, there is a completed HS(reversal pattern) while having two strong bearish candle breaking the neckline covering around 200 pips down . Now being on a pull back to the 21ema.(resistance at around 1.3675), which would lead eventually to a move away.

On the 4hrs chart: I have missed the RB around 1.3580 back up to the 21ema( around 1.3675)


the move away…waiting for it.
Yvon
 
 
  • Post #26,649
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  • Jan 7, 2014 8:22am Jan 7, 2014 8:22am
  •  LifesAbeach
  • | Joined Dec 2013 | Status: It's all about S/R | 256 Posts
Quoting trademin
Disliked
hi, EURUSD : On the daily chart, there is a completed HS(reversal pattern) while having two strong bearish candle breaking the neckline covering around 200 pips down . Now being on a pull back to the 21ema.(resistance at around 1.3675), which would lead eventually to a move away. On the 4hrs chart: I have missed the RB around 1.3580 back up to the 21ema( around 1.3675) the move away…waiting for it.
Ignored
I agree Trademin. Here's my analysis.
 
 
  • Post #26,650
  • Quote
  • Jan 7, 2014 8:24am Jan 7, 2014 8:24am
  •  LifesAbeach
  • | Joined Dec 2013 | Status: It's all about S/R | 256 Posts
Quoting trademin
Disliked
hi, EURUSD : On the daily chart, there is a completed HS(reversal pattern) while having two strong bearish candle breaking the neckline covering around 200 pips down . Now being on a pull back to the 21ema.(resistance at around 1.3675), which would lead eventually to a move away. On the 4hrs chart: I have missed the RB around 1.3580 back up to the 21ema( around 1.3675) the move away…waiting for it.
Ignored
Analysis.
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  • Post #26,651
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  • Jan 7, 2014 9:01am Jan 7, 2014 9:01am
  •  Gustavo V
  • | Joined Dec 2013 | Status: Member | 10 Posts
Hello everyone, I am new to the Forum, I am Gustavo V, am waiting for definition on EURUSD H4, I think there is a rebound in 1.36500 for MACD signal. For sale. Best regards
 
 
  • Post #26,652
  • Quote
  • Jan 7, 2014 9:17am Jan 7, 2014 9:17am
  •  LifesAbeach
  • | Joined Dec 2013 | Status: It's all about S/R | 256 Posts
Quoting LifesAbeach
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{quote} Analysis. {image} {image} {image} {image}
Ignored
Watch out for Inverse Head&Shoulder
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  • Post #26,653
  • Quote
  • Edited 10:12am Jan 7, 2014 9:18am | Edited 10:12am
  •  trademin
  • | Joined Apr 2007 | Status: Member | 910 Posts
Quoting LifesAbeach
Disliked
{quote} Watch out for Inverse Head&Shoulder {image}
Ignored

yes, very nice charts!

if it is the case , I am just expecting a strong 4hrs candles down. I t would be a rejection of a HS. will see...
Yvon
 
 
  • Post #26,654
  • Quote
  • Jan 7, 2014 10:19am Jan 7, 2014 10:19am
  •  Arrow
  • | Joined Sep 2010 | Status: Trading the Market Rhythm | 97 Posts
Quoting trademin
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{quote} hi Arrow, Just to give you an idea :-19c is probably the temperature of a frozen fish in a supermarket. I don’t think you would be able to hold it (bare hand) for 5minutes. Now with -26c , it would be less that 5 minutes. Add the wind chill, the temp is about -40C , how long would you be able to hold the fish? And what about your ears at -40c? I love summer!
Ignored
Hi Yvon,

I have read about all over the internet. These are the coldest days for years.
The Packers fan are allowed to bring blanket and sleeping bag with them.
What a cold day to play! Want to watch the youtube russian video..

Meanwhile on EU.. suddenly my order was filled.
The move away on the make?
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Own your own mind.
 
 
  • Post #26,655
  • Quote
  • Jan 7, 2014 10:25am Jan 7, 2014 10:25am
  •  trademin
  • | Joined Apr 2007 | Status: Member | 910 Posts
Quoting Arrow
Disliked
{quote} Hi Yvon, I have read about all over the internet. These are the coldest days for years. The Packers fan are allowed to bring blanket and sleeping bag with them. What a cold day to play! Want to watch the youtube russian video.. Meanwhile on EU.. suddenly my order was filled. The move away on the make? {image}
Ignored
mines were filled too : 1.3638! we are in the boat now!
about the weather: cold is also in the USA, I have heard minus 50 with wind chill!
Yvon
 
 
  • Post #26,656
  • Quote
  • Jan 7, 2014 10:26am Jan 7, 2014 10:26am
  •  LifesAbeach
  • | Joined Dec 2013 | Status: It's all about S/R | 256 Posts
Quoting trademin
Disliked
{quote} yes, very nice charts! if it is the case , I am just expecting a strong 4hrs candles down. I t would be a rejection of a HS. will see...
Ignored
Nice call Trademin. It went down. Probably something to do with the news that came out. If you're not happy about the weather you should come visit me here in South Africa. I'm from a very small coastal town called Stilbaai. Here's nothing to do but surf and look at charts. Imagine how many pips we'll make. Haha
 
 
  • Post #26,657
  • Quote
  • Jan 7, 2014 10:28am Jan 7, 2014 10:28am
  •  LifesAbeach
  • | Joined Dec 2013 | Status: It's all about S/R | 256 Posts
Quoting trademin
Disliked
{quote} mines were filled too : 1.3638! we are in the boat now! about the weather: cold is also in the USA, I have heard minus 50 with wind chill!
Ignored
I'm first waiting for the pullback and move away on 5M TF. Want to be safe. Hope I don't miss the trade.
 
 
  • Post #26,658
  • Quote
  • Jan 7, 2014 10:30am Jan 7, 2014 10:30am
  •  LifesAbeach
  • | Joined Dec 2013 | Status: It's all about S/R | 256 Posts
Another trade for the day.
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  • Post #26,659
  • Quote
  • Jan 7, 2014 10:31am Jan 7, 2014 10:31am
  •  LifesAbeach
  • | Joined Dec 2013 | Status: It's all about S/R | 256 Posts
And for those who want even more extra confirmation and for those trading the 1H Strategy.
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  • Post #26,660
  • Quote
  • Jan 7, 2014 10:42am Jan 7, 2014 10:42am
  •  Arrow
  • | Joined Sep 2010 | Status: Trading the Market Rhythm | 97 Posts
Quoting Arrow
Disliked
{quote} Hi Yvon, I have read about all over the internet. These are the coldest days for years. The Packers fan are allowed to bring blanket and sleeping bag with them. What a cold day to play! Want to watch the youtube russian video.. Meanwhile on EU.. suddenly my order was filled. The move away on the make? {image}
Ignored
Zoom in to H1 chart and a daily change that turns red.
And breaking news from Reuters
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Own your own mind.
 
 
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