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4 Hour Strategy (MACD)

  • #6,461
  • Edited 5:24am Aug 28, 2007 5:22am | Edited 5:24am
To Phillip posts I can only add that if someone thinks there is nothing more for him to learn about Forex, as he knows everything, then this person is "dead" as a trader. And one more, the same material can be perceived differently after some time. What I mean is that while reading the thread twice, three times you will always find something new and important, what you have missed for the first time, as you grow as a trader and your level of perception grows.

It looks like we have necessary rhythm on EUR, but I am conserned about 200MA, will it be able to go through it.
  • #6,462
  • Aug 28, 2007 5:42am Aug 28, 2007 5:42am
Quoting shauny
Entry: 1.3641
Stoploss: currently BE, previously below 21ema
Target: 200sma 1.3670..
total +28pips
just closed at 1.3669. Possible resistance at 200sma and previous top.

Reasons: It was an early trade, macd did not show confirmation bar, but by looking at the price actions and 1hr confirmation, its enough to go for a high probabliity trade.. Hope u guys took it too!! Cheers!!

Hey shauny, yeh mate I took it currently 24 pips up , sl BE. looking good.

Got to work on good exit now. I have a sort of unorthodox method if SL movement , every hour that passes means I move up X amount of pips depending on the Pair.

Marty.
  • #6,463
  • Aug 28, 2007 5:48am Aug 28, 2007 5:48am
I guess we are going to have a continuation pattern.
  • #6,464
  • Aug 28, 2007 5:49am Aug 28, 2007 5:49am
and there is the chart. Sorry forgot the first time
Attached Image (click to enlarge)
Click to Enlarge Name: 2007-08-28.gif Size: 23 KB
  • #6,465
  • Aug 28, 2007 5:51am Aug 28, 2007 5:51am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Watch out for GBP. Powerful bullish candle. Will it go up to 2.0188 the previous top? worth watching. Might get an entry if allows..
  • #6,466
  • Aug 28, 2007 5:57am Aug 28, 2007 5:57am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting martaroony
Hey shauny, yeh mate I took it currently 24 pips up , sl BE. looking good.

Got to work on good exit now. I have a sort of unorthodox method if SL movement , every hour that passes means I move up X amount of pips depending on the Pair.

Marty.
Cheers Martaroony!! Looks like we both have the *ny* behind our nicks? lol.. Good trading!!
  • #6,467
  • Aug 28, 2007 6:19am Aug 28, 2007 6:19am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
took the trade on GBP @ 2.0110

TP: 2.0180.


Hopefully it goes up the my target..
  • #6,468
  • Aug 28, 2007 6:40am Aug 28, 2007 6:40am
Quoting shauny
took the trade on GBP @ 2.0110

TP: 2.0180.


Hopefully it goes up the my target..

Hey shauny , you ganna love this one I took G/U @ 2.0059

currently 67 pips up.

Marty.
  • #6,469
  • Aug 28, 2007 6:50am Aug 28, 2007 6:50am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting martaroony
Hey shauny , you ganna love this one I took G/U @ 2.0059

currently 67 pips up.

Marty.
That is really an early early entry.. Was looking at the euro all the time.. Let's ride this upward trend together.. What is your TP?
  • #6,470
  • Aug 28, 2007 7:01am Aug 28, 2007 7:01am
Quoting shauny
That is really an early early entry.. Was looking at the euro all the time.. Let's ride this upward trend together.. What is your TP?
Currently looking at half at 2.0160 Rsistance R1, almost equal last range top, and the other half, optimisticly, R2 2.0220 just below 200 ma.

Moving SL up all the time to snavel as many as I can.

Its a fine balance not to strangle the trade.

Mart
  • #6,471
  • Aug 28, 2007 7:03am Aug 28, 2007 7:03am
The 200ma is acting like a brick wall of resistance on the Euro lately.

Nice trade Phillip...
Attached Image
  • #6,472
  • Aug 28, 2007 7:42am Aug 28, 2007 7:42am
hey hey hey, sahuny and martaroony. nice trades you 've got going on . I went long on euro last night after the short. Took the long up to 200 SMA , closed it this morning. We have some nice motion going on. On cable i almost pulled the trigger after that nice bounce off 89MA at 2.0050. BUT since i had the euro trade open. wanted to wait on cable for close above 21. And let behold cable shot up this morning. I did get in the current candle. ANd open couple of micro lots at retracement.
Cable is in nice motion. Price broke thru 89, came back to 21 ( with 365 in the way always a potential support or resisitance) and now a nice bounce up. The 1st target is yesterdays high. and eventually 200 SMA. seems far for now. But we have a zero bounce and good motion so you never know. Lets see how it plays out. Good luck, Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,473
  • Aug 28, 2007 8:02am Aug 28, 2007 8:02am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
But sometimes its risky, when we didn't wait for the macd to confirm.. What do you guys think?
  • #6,474
  • Aug 28, 2007 8:31am Aug 28, 2007 8:31am
Quoting shauny
But sometimes its risky, when we didn't wait for the macd to confirm.. What do you guys think?
Yes i agree it is risky without macd confirmation. It is there to filter out bad trades. However If you really become fammiliar with Market motion, with time and experience you can anticipate the next move. Depending on where the price has bounced off from. Or am i just pushing a trade here. Also where the price has been recently , which MA it has crossed and also candle emotion. I guess all this comes with experience. But i would like the more experienced traders or phillip himself to comment on this.
Thankyou.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,475
  • Aug 28, 2007 8:48am Aug 28, 2007 8:48am
Hi Phillip and everybody
I red through this thread and I made a lot notes and wrote a lot pages in my workbook. ( and every weekend I have red it and try find on the chart). I dont now where I red, but I have in my notes this... ....if the price is between strong R/S levels (EMA 89,200,365) I have to wait first when price find resistance . or support on the some of this levels and then take the trade ........ But for example today Euro/USD didnt confirm it .I think my note is VERY BAD. Just I want now your (or anybody) opinion to confirm mine. THANK,thank for everything and your education about motion and emotion of market.This is for me much better as all indicators. Thank Peter
  • #6,476
  • Aug 28, 2007 9:30am Aug 28, 2007 9:30am
Quoting BIL2205
Yes i agree it is risky without macd confirmation. It is there to filter out bad trades. However If you really become fammiliar with Market motion, with time and experience you can anticipate the next move. Depending on where the price has bounced off from. Or am i just pushing a trade here. Also where the price has been recently , which MA it has crossed and also candle emotion. I guess all this comes with experience. But i would like the more experienced traders or phillip himself to comment on this.
Thankyou.
When you start to recognize the motion and rhythm you will know where are the high probability trades to be made. Then you dont have to wait for the MACD to confirm on 4H but can enter earlier on 1H confirmation or simply take the odds on when price are at strong S/R.
If you only trade off S/R levels you will also be successfull. See image attached. You could take the odds on at that strong support line. The main danger is the tails that trigger those stops.
Attached Image (click to enlarge)
Click to Enlarge Name: 4Hour Strategy.GIF Size: 20 KB
  • #6,477
  • Aug 28, 2007 10:14am Aug 28, 2007 10:14am
$yen Tc short...'in good'...busy
  • #6,478
  • Aug 28, 2007 11:00am Aug 28, 2007 11:00am
Dear friends,
I put a link which is Phillip summery for Aug.
when you click on it ,wait for 30 seconds.then right click on down load link and press Save Target.

http://files-upload.com/files/465322...07 summery.mp3

http://files-upload.com/files/465347/Aug 2007 summery.pdf

Thanks
Mike
Failure, is a wonderful teacher!
  • #6,479
  • Aug 28, 2007 11:27am Aug 28, 2007 11:27am
Quoting mike1349
Dear friends,
I put a link which is Phillip summery for Aug.
when you click on it ,wait for 30 seconds.then right click on down load link and press Save Target.

http://files-upload.com/files/465322...07 summery.mp3

http://files-upload.com/files/465347/Aug 2007 summery.pdf

Thanks
Mike

Thanks for the upload. I did this for Mike so he can see how I approach the markets. Hope you people find some worth in it. Especially the fact that you dont have to trade every signal. Choose the high probability ones and plan to stay in it as long as the plan is still valid.
  • #6,480
  • Edited 1:35pm Aug 28, 2007 1:21pm | Edited 1:35pm
Quoting Phillip Nel
Thanks for the upload. I did this for Mike so he can see how I approach the markets. Hope you people find some worth in it. Especially the fact that you dont have to trade every signal. Choose the high probability ones and plan to stay in it as long as the plan is still valid.
I've been unable to open the pdf. My reader says there is an error. I'm mentioning it in case others are having the same problem.

I just checked the mp3, and it has only recorded one minute forty-eight seconds of Phillip's report.
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