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4 Hour Strategy (MACD)

  • #6,261
  • Edited 5:49am Aug 20, 2007 5:32am | Edited 5:49am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
MACD formed a TC signal 20:00 candle on GBP/USD. If you would have take it, its a loss..
Anyone who din take it, can point out the reason? Macd fulfilled and its a bearish mood.. thanks people!!
Attached Image (click to enlarge)
Click to Enlarge Name: GBP Morning signal.jpg Size: 69 KB
  • #6,262
  • Aug 20, 2007 6:48am Aug 20, 2007 6:48am
shauny:

I don't trade the Cable but the MACD was/is forming bullish divergence so I would have been a little cautious of that entry. I try to examine all of the signals such as s/r levels, volatility, etc...in addition to the MACD formations. Everything pretty much has to 'gel' for me to take a position....
  • #6,263
  • Aug 20, 2007 7:41am Aug 20, 2007 7:41am
Anyone take the Usd/Cad signal , at last 4 hour candle close.?
  • #6,264
  • Aug 20, 2007 8:06am Aug 20, 2007 8:06am
for me it's not a good signal


Quoting martaroony
Anyone take the Usd/Cad signal , at last 4 hour candle close.?
Financial Freedom
  • #6,265
  • Aug 20, 2007 8:19am Aug 20, 2007 8:19am
Quoting martaroony
Anyone take the Usd/Cad signal , at last 4 hour candle close.?
I took it, but based on other indicators.
Stop Loss: 1.0537, below the 61 fib weekly, and 8/17/07 low. Also, 200 ma. Price currently below monthly pivot, looking for a close above this on 4bar. If price breaks below 10547, looking for a major test of 200 ma. Not an A trade given price is between 89 and 200. Price needs to break 89, and then trade should run.
2 % risk.
Blessings
Dion
  • #6,266
  • Aug 20, 2007 8:30am Aug 20, 2007 8:30am
Great Trade, up 69 pips, looking for much more, maybe trend change. Will watch for further price confirmation.
SL: 1.9749 Below price support on 4hr
Entry: 1.9779
  • #6,267
  • Aug 20, 2007 9:04am Aug 20, 2007 9:04am
Phillip, I am sorry for your loss. I am praying for you and your family.
Dion Mueller
  • #6,268
  • Aug 20, 2007 9:12am Aug 20, 2007 9:12am
I found that my best trades are between the US open and the end of European session.

2 A.M.-4 A.M. EST (Asian/European) market overlap
8 A.M.-12 P.M. EST (European/N.American) market overlap

Market Sessions: EST
New York 8 A.M.-4 P.M.
London 2 A.M.-12 Noon
Great Britain 3 A.M.-11 A.M.
Tokyo 8 P.M.-4 A.M.
Australia 7 P.M.-3 A.M.
  • #6,269
  • Aug 20, 2007 9:22am Aug 20, 2007 9:22am
Phillip, I am sorry for your loss, let me join the others and express my condolences on your loss .
  • #6,270
  • Aug 20, 2007 9:58am Aug 20, 2007 9:58am
Few 'more' thoughts on the $Yen....

More weakness ahead? The 4hr is setting up for a Tc to the downside and the only target I see is the 111.50 area; the low from last week. Going to the daily, price action is still in the 'void'. The next target for the daily is the low around the 109 area. That's a long way down there but from what happened last week and with the markets still looking for some kind of stabilization, anything is possible. This might turn out to be another big move. Be aware of the recent volatility though, this may be a stop hunter in it's own way....

Daily $Yen...
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Click to Enlarge Name: chart.jpg Size: 48 KB
  • #6,271
  • Aug 20, 2007 10:14am Aug 20, 2007 10:14am
OK, last post for a while...gotta get some work done.

These are the current 4hr $yen and Eur$ charts. It'll be interesting to see how these work out. The next support areas for the $Y are a good ways south. The E$ has two support lines it's bouncing around right now. The Tc on the E$ would have given up 20 pips in the bank already but it has retreated back to the upside a little...Thinking out loud here in terms of how the support lines will hold on the E$ vs. 'nothing' on the $yen chart with both setting up pretty much the same right now...watch and see...
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  • #6,272
  • Aug 20, 2007 10:57am Aug 20, 2007 10:57am
AUDUSD is being squished. Interesting, but nothing to do at the moment. Possible upside breakout would be the most interesting, but who knows?
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  • #6,273
  • Aug 20, 2007 11:25am Aug 20, 2007 11:25am
i take the signal on 16:00 €/$ .

sell 1 lot at 1.3478. stop loss at 1.3504

tp1 1.3460 0.5 lot

tp2 1.3440 0.5 lot
Financial Freedom
  • #6,274
  • Aug 20, 2007 11:37am Aug 20, 2007 11:37am
Quoting shauny
MACD formed a TC signal 20:00 candle on GBP/USD. If you would have take it, its a loss..
Anyone who din take it, can point out the reason? Macd fulfilled and its a bearish mood.. thanks people!!
Good challenge, Shauny! One of the things I see, at least on my chart, is the distance from the candle close and the 21 ema. It seems that, if you tried to park your stop up there for a short, your R:R would probably be bad. On my chart, the 20:00 GMT candle (is GMT what yours was?) closed at 1.9781, and the 21 ema was at 1.9873. It's interesting that I didn't even get a bearish signal on the MACD on that candle. Sometimes Phillip has said that he wouldn't take a certain signal candle unless it matched or exceeded a previous recent low or high on the MACD, and your signal looked pretty weak.
  • #6,275
  • Aug 20, 2007 1:27pm Aug 20, 2007 1:27pm
Quoting adelmonora
i take the signal on 16:00 €/$ .

sell 1 lot at 1.3478. stop loss at 1.3504

tp1 1.3460 0.5 lot

tp2 1.3440 0.5 lot
why put sell ?? macd went to positive zone( it became more then 0 )

why sell?
  • #6,276
  • Aug 20, 2007 1:45pm Aug 20, 2007 1:45pm
my macd show this (see the image)


Quoting 4newbie
why put sell ?? macd went to positive zone( it became more then 0 )

why sell?
Attached Image (click to enlarge)
Click to Enlarge Name: Immagine.jpg Size: 64 KB
Financial Freedom
  • #6,277
  • Aug 20, 2007 1:49pm Aug 20, 2007 1:49pm
Quoting adelmonora
my macd show this (see the image)
thanks for image...now i see u are rigth
  • #6,278
  • Aug 20, 2007 2:35pm Aug 20, 2007 2:35pm
Closed out. Price 1.9879 100 pips 1/2 lot 2% risk. Waiting for retrace for possible re-entry.
  • #6,279
  • Aug 20, 2007 2:54pm Aug 20, 2007 2:54pm
Closed out. Price at 1.0537 -56 pips .25 lots
  • #6,280
  • Aug 20, 2007 3:27pm Aug 20, 2007 3:27pm
Quoting HipsterPipster
Closed out. Price at 1.0537 -56 pips .25 lots
Way to manage your trades, Hipster! I was studying the possible USDCAD TC on my 20:00GMT candle, but it was a clear no go with the 200 sma and a support trend line in the way. Congrats!
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