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4 Hour Strategy (MACD)

  • #31,201
  • Apr 26, 2020 2:09pm Apr 26, 2020 2:09pm
Ok guys, lets take a looksee at EU ready for this weeks trading. On the daily we are in a downtrend below all the MA but the last candle ended up being bullish, possible bounce off the trendline support and could be a reversal. Lets switch to H4 and see what story shows there. We have a descending channel with price close over the 21.MACD bars are green and above the zero line. My anticipation for this pair is a retest of the 21 before moving up toward the 89 or it could keep going up to test the upper trendline of the channel. Another option could be a pull back down past the 21 before a trip to the 89. Jonnypips would call this a A wave correction moving to B wave back across the 21 and then C wave up to the 89. Still learning.
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  • #31,202
  • Apr 26, 2020 4:09pm Apr 26, 2020 4:09pm
Quoting 40PipsAlan
Guys, tough week for me with lots of chop. Managed just under 2% increase on the account. I am going to start doing screenshots so I can pinpoint where I am making mistakes and identify areas of improvement. More trade planing and execution required.Have a good weekend. {image}
still beter then me friend
I got a little loss but its recoverable
and I still have two trades open that go in following week
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  • #31,203
  • Apr 27, 2020 3:59am Apr 27, 2020 3:59am
Quoting naustingfx
{quote} Some thing came up on Sunday and took lot of my time so I could not do a full analysis on the pair...even now I am doing it from my tablet...but this is the look of things for me {image}
Alan called my strong attention on the AudUsd pair last week, and after responding to his post I began to watch the pair more closely, and finally it paid off. I took it on a late entry towards the close of market last Friday, and it is paying off now. Thanks Alan...Bottom line: I have said it before; a good trader should master that particular setup and arena that gives him the best result and never miss such trades...those trades may be only what you need to make it in your trading career.
Cheers!
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  • #31,204
  • Apr 27, 2020 4:43am Apr 27, 2020 4:43am
Quoting 40PipsAlan
Ok guys, lets take a looksee at EU ready for this weeks trading. On the daily we are in a downtrend below all the MA but the last candle ended up being bullish, possible bounce off the trendline support and could be a reversal. Lets switch to H4 and see what story shows there. We have a descending channel with price close over the 21.MACD bars are green and above the zero line. My anticipation for this pair is a retest of the 21 before moving up toward the 89 or it could keep going up to test the upper trendline of the channel. Another option could...
Looks like i missed the 21 ema Retest and move away while I was sleeping. I am guessing it will now hit the 89
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  • #31,205
  • Apr 29, 2020 4:11pm Apr 29, 2020 4:11pm
Guys...after reading and studying...from next week I will post my impression here...hope to grow and learn fast.

Alan, can i ask you to share your layout and setup? seems to be very clean for me than the basic explained in the beginning of the post.

Let me know if possible. thanks
  • #31,206
  • May 1, 2020 7:19am May 1, 2020 7:19am
Come on 89
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  • #31,207
  • May 2, 2020 1:27am May 2, 2020 1:27am
Quoting 40PipsAlan
Come on 89 {image}
Very nice entry level, the first one.
Cheers!
  • #31,208
  • May 2, 2020 8:58am May 2, 2020 8:58am
Quoting 40PipsAlan
Come on 89 {image}
Ey Alan nice trade! I wonder about your shedule events indicator, could you please share to us?
  • #31,209
  • May 3, 2020 12:50pm May 3, 2020 12:50pm
Guys, another tough week with a +2.6% increase on the account. I need to re-evaluate my trades, improve my trading plan as I seem to be making silly mistakes and trading in the wrong direction and taking out my SL. Maybe not enough patience is a problem too along with too tight a SL.
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  • #31,210
  • May 3, 2020 12:53pm May 3, 2020 12:53pm
Quoting Canudo
{quote} Ey Alan nice trade! I wonder about your shedule events indicator, could you please share to us?
Here you go.
Attached File(s)
File Type: ex4 News_Events.ex4   128 KB | 248 downloads
  • #31,211
  • May 3, 2020 1:28pm May 3, 2020 1:28pm
Quoting beascalper
Guys...after reading and studying...from next week I will post my impression here...hope to grow and learn fast. Alan, can i ask you to share your layout and setup? seems to be very clean for me than the basic explained in the beginning of the post. Let me know if possible. thanks
Here you go. The RR calculator is used to determine your lotsize. Drag the Sl point to where you want your SL and entry point to the where your entry is and it will tell you the lotsize. Mine is set for 2% of the account per trade, but can be a optionally set as set cash amount.
Attached File(s)
File Type: zip Macd Indictors.zip   202 KB | 331 downloads
File Type: tpl Alan Macd-New.tpl   19 KB | 181 downloads
  • #31,212
  • May 3, 2020 4:58pm May 3, 2020 4:58pm
Quoting 40PipsAlan
Come on 89 {image}
mine audusd looks the other way arround
I bought and wanted to let profits run because this its what everybody say in forex
and when I was in profit I let it run but it got against me big time
I was around 250 pips in profit
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here its the week report
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  • #31,213
  • May 4, 2020 2:31am May 4, 2020 2:31am
Quoting forexdg
{quote} mine audusd looks the other way arround I bought and wanted to let profits run because this its what everybody say in forex and when I was in profit I let it run but it got against me big time I was around 250 pips in profit {image} here its the week report {image}
Hi Forexdg, well played for staying in that long trade so long, seems to be an issue for me when the swing turns round I tend to get out.
I am sure Nausting will have some wise words for you.
That looks to be an hourly chart, maybe stick to the H4 and watch out for candle close over the 21 EMA which is a sign of momentum change.
Another recommendation is to move your SL to breakeven asap. A tip from Phil is to trail stop at the 34 EMA. I probably have an EA that will do that for you.
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  • #31,214
  • May 4, 2020 1:25pm May 4, 2020 1:25pm
EU short trade currently running. +75.
Drew a trend channel off the candle tops and took the odds on a short when it bounced off the top again. looking to TP at the 200 MA or the 89, bottom trend line.
Daily in a downtrend.
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  • #31,215
  • May 4, 2020 2:13pm May 4, 2020 2:13pm
Quoting 40PipsAlan
{quote} Here you go. The RR calculator is used to determine your lotsize. Drag the Sl point to where you want your SL and entry point to the where your entry is and it will tell you the lotsize. Mine is set for 2% of the account per trade, but can be a optionally set as set cash amount. {file} {file}
Thank you mate!
  • #31,216
  • May 4, 2020 4:36pm May 4, 2020 4:36pm
Quoting 40PipsAlan
{quote} Here you go. The RR calculator is used to determine your lotsize. Drag the Sl point to where you want your SL and entry point to the where your entry is and it will tell you the lotsize. Mine is set for 2% of the account per trade, but can be a optionally set as set cash amount. {file} {file}
Thanks so much!! Alan I will configure it by my own setup and I will test it!! Have nice pips this week!
  • #31,217
  • May 5, 2020 11:13am May 5, 2020 11:13am
How about daily oil to the 89?. Lots of pips for not much cash.
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  • #31,218
  • May 5, 2020 11:15am May 5, 2020 11:15am
How about EA going south?
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  • #31,219
  • May 6, 2020 4:22am May 6, 2020 4:22am
GJ short for +81
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  • #31,220
  • May 6, 2020 12:23pm May 6, 2020 12:23pm
Quoting 40PipsAlan
{quote} Hi Forexdg, well played for staying in that long trade so long, seems to be an issue for me when the swing turns round I tend to get out. I am sure Nausting will have some wise words for you. That looks to be an hourly chart, maybe stick to the H4 and watch out for candle close over the 21 EMA which is a sign of momentum change. Another recommendation is to move your SL to breakeven asap. A tip from Phil is to trail stop at the 34 EMA. I probably have an EA that will do that for you. {image}
hi Alan
you seem to do very good lately
but I seem to go at the other way
I also hope Naustinf will have some words about let profits run
because I got burn in audusd with let profits run, here its a trade that I got burn because I didnt let profits run and i made less money then I should if I let the trade run more
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chart its h1 but original entry in h4 and add second entry in h1
if I let profits run with this trade it existed third entry too and added more pips
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