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4 Hour Strategy (MACD)

  • #30,961
  • Feb 18, 2020 9:51am Feb 18, 2020 9:51am
Quoting Tuffsy
{quote} This is my personal view. The price has broke below the 21 ema on Friday, today it broke above again, now that's a bit risky to enter there as it hasn't making market rhythm yet. You should've wait for it to bounce. Long entry should be at the number 3, the trendlines (there's a triange as you guys have said) should also be broken in that area. {image}
And another question if you don't mind. Not making market Rhythm?. I have read Philips info on the market rhythm and can understand that.
Can you elaborate please.
  • #30,962
  • Feb 18, 2020 12:47pm Feb 18, 2020 12:47pm
The high of the triangle forms the TP point apparently.

HOW TO TRADE THE DESCENDING TRIANGLE
When trading the descending triangle, traders need to identify the downtrend and this can be seen in the EUR/USD chart below. Thereafter, the descending triangle appears as the forex candlesticks start to consolidate. The measuring technique can be applied once the triangle forms, as traders anticipate the breakout.
After viewing a strong break below support, traders can enter a short position, setting a stop at the recent swing high and take profit target in line with the measuring technique.
Attached Image (click to enlarge)
Click to Enlarge Name: descending-triangle-pattern_body_EURUSDdescendingtriangletradingexample.jpg Size: 32 KB
  • #30,963
  • Feb 18, 2020 2:10pm Feb 18, 2020 2:10pm
What do you guys reckon on Brent long? Price above the 89, macd green bar BOZ. Target the 200
Attached Image (click to enlarge)
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  • #30,964
  • Feb 18, 2020 4:10pm Feb 18, 2020 4:10pm
euraud in h4 its sell
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4.png Size: 37 KB
  • #30,965
  • Feb 18, 2020 4:14pm Feb 18, 2020 4:14pm
Quoting forexdg
euraud in h4 its sell {image}
Hi Forexdg, watch out for the Trendline at the bottom. Plus some news in a couple of hours, probably a good place to TP
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 167 KB
  • #30,966
  • Feb 18, 2020 6:22pm Feb 18, 2020 6:22pm
Quoting Muhammad87
I'm long in NZD/JPY. Price closed back above 21 EMA and 89 SMA. Initial target is at previous highs 71.20. If the price broke this level, the second target will be 200 SMA @ 71.70. The final Target is the 72.50. I will move the stop loss to manage the position. {image}
Stop loss was hit.
I'm long now on the EUR/NZD.
Price broke 21 EMA and pullback to it. So anticipating a move to 89 SMA.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD H4 02-19-2020 0824.png Size: 93 KB
  • #30,967
  • Feb 18, 2020 9:17pm Feb 18, 2020 9:17pm
Quoting 40PipsAlan
What do you guys reckon on Brent long? Price above the 89, macd green bar BOZ. Target the 200 {image}

This seems following the rules and the first target will be 54.
  • #30,968
  • Feb 19, 2020 2:07am Feb 19, 2020 2:07am
Quoting Muhammad87
{quote} This seems following the rules and the first target will be 54.
Hi can you elaborate target of 54 please?
  • #30,969
  • Feb 19, 2020 2:10am Feb 19, 2020 2:10am
Quoting forexdg
{quote} I lost too but I entered in sell h4 usdcad {image}
Hi Forexdg. Are you still in that UC trade? I am hanging on in there. I hate CAD and CHF big spikes so have bigger SL.
  • #30,970
  • Feb 19, 2020 5:35am Feb 19, 2020 5:35am
Quoting 40PipsAlan
{quote} Hi Forexdg. Are you still in that UC trade? I am hanging on in there. I hate CAD and CHF big spikes so have bigger SL.
hi 40pipsalan
forgive my late reply but I check forexfactory when its not such busy at work
I lost that usdcad but I opened another sell one today in h4
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 38 KB

an other trade I opened today its gbpjoy buy in h4
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 33 KB

Im still in euraud because I decided to trust macd and moving averages will break trend line you told me
lets see what happen
  • #30,971
  • Feb 19, 2020 9:52am Feb 19, 2020 9:52am
Quoting 40PipsAlan
{quote} Hi can you elaborate target of 54 please?
You will find the previous resistance and Fib 50% and the 200 SMA is coming to the region.
Attached Image (click to enlarge)
Click to Enlarge Name: USOil H4 02-19-2020 2351.png Size: 72 KB
  • #30,972
  • Feb 19, 2020 4:03pm Feb 19, 2020 4:03pm
I close audusd near takeprofit
I close gbpnzd gbpaud euraud when bars closed in other side of moving average because I think I need to work in this money management and not let bars go to stoploss
I have 4 trades still alive: usdcad eurcad gbpjpy gbpusd and they are in profit inthis moment
  • #30,973
  • Feb 19, 2020 4:11pm Feb 19, 2020 4:11pm
Quoting forexdg
I close audusd near takeprofit I close gbpnzd gbpaud euraud when bars closed in other side of moving average because I think I need to work in this money management and not let bars go to stoploss I have 4 trades still alive: usdcad eurcad gbpjpy gbpusd and they are in profit inthis moment
Sounds like things are improving for you forexdg. Good work.
  • #30,974
  • Feb 19, 2020 5:44pm Feb 19, 2020 5:44pm
Hello. I'm new to this and trying to learn. Anyone trading stocks? I'm long in this one, 1 tp around 50% fib, 2 target 39.
Attached Image (click to enlarge)
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  • #30,975
  • Feb 19, 2020 8:38pm Feb 19, 2020 8:38pm
Quoting Muhammad87
{quote} Stop loss was hit. I'm long now on the EUR/NZD. Price broke 21 EMA and pullback to it. So anticipating a move to 89 SMA. {image}
EUR/NZD reached the 89 SMA.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD H4 02-20-2020 1036.png Size: 88 KB
  • #30,976
  • Feb 19, 2020 8:42pm Feb 19, 2020 8:42pm
Shorted USD/CHF.

MACD is showing divergence with the price. High risk trade as it is a counter trend.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF H4 02-20-2020 1039.png Size: 93 KB
  • #30,977
  • Feb 20, 2020 4:16am Feb 20, 2020 4:16am
Quoting 40PipsAlan
{quote} Sounds like things are improving for you forexdg. Good work.
thank you I hope your right
I cut loss in usdcad because bar has close on other side of 20 moving average
20 pips loss
I just taken gbpaud buy entry in h4
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH4.png Size: 32 KB
  • #30,978
  • Feb 20, 2020 9:12am Feb 20, 2020 9:12am
The high point of my week so far. Doesn't cover the losses unfortunately.
New week, new perspective.
Attached Image (click to enlarge)
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  • #30,979
  • Feb 20, 2020 10:07am Feb 20, 2020 10:07am
I closed eurcad but after that it go back in the right direction
same with usdcad
  • #30,980
  • Feb 20, 2020 10:10am Feb 20, 2020 10:10am
Quoting forexdg
I closed eurcad but after that it go back in the right direction same with usdcad
Yah I am still in the UC trade. I try to stick with my trade decision, it either hits SL or TP or BE if my EA has managed to move it in time.
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