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4 Hour Strategy (MACD)

  • #30,921
  • Feb 13, 2020 12:56am Feb 13, 2020 12:56am
NZDUSD what do you think about this? It'd be a counter trade and the price is only a few pips away from the 21 ema on the 4H chart so have to be careful here.
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  • #30,922
  • Edited 9:14am Feb 13, 2020 1:31am | Edited 9:14am
Quoting Tuffsy
NZDUSD what do you think about this? It'd be a counter trade and the price is only a few pips away from the 21 ema on the 4H chart so have to be careful here. {image}
This probably would be a better idea, wait for the price to break above the 21 ema, pulled back and enter there. The target would be previous high/365 ema/4H's 89 sma, they're all there.
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  • #30,923
  • Feb 13, 2020 6:50am Feb 13, 2020 6:50am
Waiting for news realease
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  • #30,924
  • Edited 8:41am Feb 13, 2020 7:37am | Edited 8:41am
Quoting naustingfx
Waiting for news realease {image}
Hi nausting, the price sits in the resistance (89 sma) on the 4H chart, I thought it'd be a bit risky play to enter the trade, no? I tend to pass the trade if the price is near the 89 sma on the 4H or higher timeframes.

Asking for advice.

*edited.
  • #30,925
  • Feb 13, 2020 8:00am Feb 13, 2020 8:00am
Quoting Tuffsy
{quote} Hi nausting, the price sits in the resistance (200 sma) on the 4H chart, I thought it'd be a bit risky play to enter the trade, no? I tend to pass the trade if the price is near the 200 sma on the 4H or higher timeframes. Asking for advice.
Hi Boss, I think you mean the 89 and I agree, trading near the 89 is a worry for me. How far up or down away from the 89 do we need to be to take a trade?
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  • #30,926
  • Feb 13, 2020 8:39am Feb 13, 2020 8:39am
Quoting 40PipsAlan
{quote} Hi Boss, I think you mean the 89 and I agree, trading near the 89 is a worry for me. How far up or down away from the 89 do we need to be to take a trade? {image}
Ah yes the 89 sma, my bad!

It depends though, if the price broke the line and at the same time on the 1H chart the price has produced a market rhythm entry I'd consider to take the trade.

The safer way is to wait for the price to be pulled back to the 89 and hold (resistance turned into support), and we'll looking for an entry on the lower timeframes.

But that's just me Alan, I'm also beginner here.
  • #30,927
  • Feb 13, 2020 8:53am Feb 13, 2020 8:53am
Quoting Tuffsy
{quote} Ah yes the 89 sma, my bad! It depends though, if the price broke the line and at the same time on the 1H chart the price has produced a market rhythm entry I'd consider to take the trade. The safer way is to wait for the price to be pulled back to the 89 and hold (resistance turned into support), and we'll looking for an entry on the lower timeframes. But that's just me Alan, I'm also beginner here.
Theres also the weekly R1 pivot very nearby as well. Lines up with the H1 365 SMA.
  • #30,928
  • Feb 13, 2020 9:13am Feb 13, 2020 9:13am
Quoting 40PipsAlan
{quote} Theres also the weekly R1 pivot very nearby as well. Lines up with the H1 365 SMA.
I'll stay away from the AUD pairs for now, maybe wait until monday, they're just not for me.

----

I missed this EURCAD short, market rhythm + Zero Break pattern, that's about 40 pips.
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  • #30,929
  • Feb 13, 2020 9:44am Feb 13, 2020 9:44am
Quoting naustingfx
Waiting for news realease {image}
AUD/USD UPDATE:
I have read through your posts...I will be here full in about 4 hrs time to answer questions asked...meanwhile I have taken profits on 3 positions on the pair, and still leaving other 5 positions open...I am hoping that my profit targets get hit based upon my analysis...I can see that the news is as well in my favour...thank you for your comments. I will answer to all soon.
Cheers
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  • #30,930
  • Feb 13, 2020 10:03am Feb 13, 2020 10:03am
Quoting Tuffsy
{quote} I'll stay away from the AUD pairs for now, maybe wait until monday, they're just not for me. ---- I missed this EURCAD short, market rhythm + Zero Break pattern, that's about 40 pips. {image}
Yep, missed it too. I was only looking at the H4 charts. Not been a good week at all.
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  • #30,931
  • Feb 13, 2020 1:15pm Feb 13, 2020 1:15pm
Quoting Tuffsy
{quote} Hi nausting, the price sits in the resistance (89 sma) on the 4H chart, I thought it'd be a bit risky play to enter the trade, no? I tend to pass the trade if the price is near the 89 sma on the 4H or higher timeframes. Asking for advice. *edited.
Answer:
It okay the way you view it; but I took trade for a risk reward of 1:1, also if you view it from the scalping perspective, then what you pointed out will not be an issue; I hope my explanation makes sense?
Thanks!

Addition: I have also closed more positions due to current changes in the market;and have only left 2 to see how things play out; currently price is seated at 4hr 21ema and can still take off from there to the north...Cheers!
  • #30,932
  • Feb 13, 2020 7:45pm Feb 13, 2020 7:45pm
Quoting Tuffsy
{quote} Ah yes the 89 sma, my bad! It depends though, if the price broke the line and at the same time on the 1H chart the price has produced a market rhythm entry I'd consider to take the trade. The safer way is to wait for the price to be pulled back to the 89 and hold (resistance turned into support), and we'll looking for an entry on the lower timeframes. But that's just me Alan, I'm also beginner here.
If any average is at one time above and at another time it is below, it is because the market is lateral, better to stay out, or go in a shorter time and use this to your advantage.
In the case of H1 the average 89 was below and in H4 above.
Symmetrical triangle pattern.
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  • #30,933
  • Edited 1:57am Feb 14, 2020 1:27am | Edited 1:57am
Thank you for your comments Sorobanista & naustingf x! It's all make sense now.


----

Quoting 40PipsAlan
{quote} Yep, missed it too. I was only looking at the H4 charts. Not been a good week at all. {image}
Here's another potential short on the EUR pairs, this one is EURGBP. The price is consolidating and approaching the zero line MACD and the 21 ema, will he do it again? Guess we will have to wait and see.
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  • #30,934
  • Feb 14, 2020 7:17am Feb 14, 2020 7:17am
Quoting Tuffsy
Thank you for your comments Sorobanista & naustingf x! It's all make sense now. ---- {quote} Here's another potential short on the EUR pairs, this one is EURGBP. The price is consolidating and approaching the zero line MACD and the 21 ema, will he do it again? Guess we will have to wait and see. {image}
EURGBP I do not recommend trading with this currency, it is unstable, and it makes very big leaps.
  • #30,935
  • Feb 14, 2020 7:18am Feb 14, 2020 7:18am
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The RSI setting at 10 typical price and an exponential average of 7 gives a good signal similar to macd.
It is the TDI config.
  • #30,936
  • Feb 14, 2020 7:46am Feb 14, 2020 7:46am
The macd seems to be more friendly, but the RSI has the best lines of overbought and sale, that of 150 macd, does not work well.
The zero line of the macd is the 50 line of the RSI, the ideal would be to buy when the blue line goes up to the 30 line, but the hammer and confirmation on the support line, makes me believe that it will correct well, I may even decrease the target after.
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  • #30,937
  • Feb 14, 2020 7:50am Feb 14, 2020 7:50am
Kind of unfortune this week
  • #30,938
  • Feb 14, 2020 9:10am Feb 14, 2020 9:10am
Quoting Tuffsy
Kind of unfortune this week
you and me both. The corona effect maybe.
  • #30,939
  • Feb 14, 2020 11:18am Feb 14, 2020 11:18am
I am new to the thread and would like to thank everyone who has contributed so far to make this a success. With that being said let me take a stab at this and see if I understand the process correctly. So here is AUDNZD on the H4 TF. Looks like we had a close above the 21 and hit resistance at the 365. Now just waiting on a candle close below the 21 (which we are close to getting it appears) and then we can go short to the 89sma. Also there seems to be a RT on the macd. Again I am new to this so any correction or thoughts are appreciated

Thanks guys,
Monty
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  • #30,940
  • Feb 14, 2020 11:23am Feb 14, 2020 11:23am
Get out of the trade, really go against moving averages and pivots, it doesn't work very well, interestingly the 1.618 coincides with the S1 pivot level.
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