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4 Hour Strategy (MACD)

  • #8,761
  • Nov 27, 2007 4:18am Nov 27, 2007 4:18am
pips: yeah things look a little mixed up right now. Will wait until after the 9am news I was holding some on the EU for that last Tc but it came down and took me our at b/e. I think every post is read by the moderators so the SPAM issue gets resolved quickly.

EricthePip: a fellow 'fisher'. Have fun with those charts. I do a lot of flats fishing here in the FL panhandle: speckled trout, red fish, cobia, black-tip sharks,....good stuff.

Gotta run....

No pos's open right now...
  • #8,762
  • Nov 27, 2007 4:19am Nov 27, 2007 4:19am
Quoting RemingtonTJ
Hi Rebecca

how much do you trust traditional technical analysis technics in FX trading?

I always get kind of susbicious when I see something like a triangle or a perfectly horizontal support/resistance line.

Till
Hi,

So far I've found a lot of substance in technical analysis techniques, but I am new to this business (about 1 yr) and I am rubbish at following fundamentals - totally clueless about it actually! I have no background in financial business at all, but I do believe in historical significance of previous support / resistance.

I have learned everything I know from studying this thread (just finished reading ALL of it yesterday afternoon!!!) and I think that the most successful people on this thread base their trade decisions on traditional technical analysis as well as chart motion/emotion. I just feel that the market is unsure, and the symmetrical triangle confirms that for me. It doesn't mean I'm right or wrong, just gives me an idea from which to form a plan. My plan just now is to sit tight and wait for the market to lead the way.

Rebecca,x.
May all your pips grow into great big fruitful trees
  • #8,763
  • Nov 27, 2007 4:39am Nov 27, 2007 4:39am
Quoting pips4uandme
Hi Bag Lady!

Thank you for posting such good analysis! Have really enjoyed your posts. Keep up the great work!!! Pretty soon, we won't be calling you Bag Lady any more, eh?

Happy trading,
Pips
Hi Pips,

Thanks for your welcome, just seen it!! The 'Bag Lady' nickname was given to me by my partner a very long time ago, and he still calls me it today (long story attached, won't bore you with it!). I thought it would be quite appropriate though for forex, 'cos I love to think that everyone's bags will be bulging with pips if they follow advice given on this thread!

I've read it all the way through, just finished yesterday, and I think it's essential reading, there's so much that you won't find if you stick exclusively to the attachments. There's a whole story of personal successes and progress, and a real time example of the learning curve that we all go through. I'm still right at the beginning of mine but hope am inspired by the help and advice I've found here. Thank you from the bottom of my heart and from the very fabric of my (hopefully) soon-to-be bulging bags!!!

Rebecca,x.
May all your pips grow into great big fruitful trees
  • #8,764
  • Edited 5:52am Nov 27, 2007 5:18am | Edited 5:52am
One more time with the 1hr entry per the 4hr ema 21...long 5 at 1.4861. I know I said no trades until after the news but strength is strength.

If we can close above the 1.4880 level then the next target should be towards the last top....

Just exited 2 for 50 pips...

Exited one more at 1.4891 for 30 pips, 80 pips banked, last two lots at b/e. Not sure what caused the spike but we'll see if there is any follow through...
Attached Image
  • #8,765
  • Nov 27, 2007 6:46am Nov 27, 2007 6:46am
same chart with a few more bars...

Resistance is Resistance....still holding 2 at b/e before the news...
Attached Image
  • #8,766
  • Nov 27, 2007 6:53am Nov 27, 2007 6:53am
Good job Palmer! And excellent landing! I was waiting for that to happen but didn't expect it to be that fast and furious so stayed aside.

Quoting Palmer
One more time with the 1hr entry per the 4hr ema 21...long 5 at 1.4861. I know I said no trades until after the news but strength is strength.

If we can close above the 1.4880 level then the next target should be towards the last top....

Just exited 2 for 50 pips...

Exited one more at 1.4891 for 30 pips, 80 pips banked, last two lots at b/e. Not sure what caused the spike but we'll see if there is any follow through...
  • #8,767
  • Nov 27, 2007 7:09am Nov 27, 2007 7:09am
Quoting Phillip Nel
I went long the EurUsd(had some connection problems during the day)

4H ZB/TC with 1H confirming

Entry 1.4855
SL 1.4821
1st TP 1.4880
2nd TP +1.4920


Edit 1
1.4880 was hit. Closed 50% for +23pips
Remainder to BE

Edit 2
Have to go to bed. Has set remainder on 20 trailing stop

Edit 3
Remainder closed at BE

hi
whould u plz tell me why u put ur sl at 1.4821 isnt it should be under the previous candle?
  • #8,768
  • Nov 27, 2007 7:19am Nov 27, 2007 7:19am
hi
waiting for a sell signal again.
Attached Image (click to enlarge)
Click to Enlarge Name: yen.gif Size: 34 KB
  • #8,769
  • Nov 27, 2007 7:25am Nov 27, 2007 7:25am
Quoting bshadroo
hi
whould u plz tell me why u put ur sl at 1.4821 isnt it should be under the previous candle?


It was under the previous candle and on the 21ema
  • #8,770
  • Nov 27, 2007 7:27am Nov 27, 2007 7:27am
Please see below EURUSD Buy signal generated on the H4 chart.

Regards,
Pip
Attached Image (click to enlarge)
Click to Enlarge Name: h4_eurusd.gif Size: 16 KB
  • #8,771
  • Nov 27, 2007 7:51am Nov 27, 2007 7:51am
Info
Attached File(s)
File Type: zip Daily Wrapup 27 Nov2007.zip   819 KB | 1,250 downloads
  • #8,772
  • Nov 27, 2007 7:53am Nov 27, 2007 7:53am
any new opinion on cable??
  • #8,773
  • Nov 27, 2007 8:16am Nov 27, 2007 8:16am
Quoting Phillip Nel
Info
Phillip,

Thanks again for the great reminder of being patient and staying in the game for the long run. You are so right on there. I am sure many of us including myself have gone through that same process. Because of your teaching and this great community, I am finally finding patience.
Thanks again to you and every one in this forum.
  • #8,774
  • Nov 27, 2007 8:42am Nov 27, 2007 8:42am
Don't know if this applies, as I've only heard the three sisters example used for price formations, but if I may there is nice "MACD" three sisters forming on the E/U on the daily. It's at least a divergence of the late September, early November and mid November highs. Could this tell of the Euro loosing steam??
Attached Image
  • #8,775
  • Nov 27, 2007 9:10am Nov 27, 2007 9:10am
You guys and your news / 1HR trade lol. I will stick with the 4hr and let you guys be the pick pocket traders
Keep taking CT trades, I need more money
  • #8,776
  • Nov 27, 2007 9:23am Nov 27, 2007 9:23am
Quoting Bag Lady
Hi Till,

I see what you're seeing, but I also see price still within the symmetrical triangle (I think this means indecision within market?), and fairly strong potential support below current price.

I may be overcautious but I am waiting for price to break the triangle before committing myself to anything. If price breaks with violence, I shall wait for the retracement to get entry on more solid grounds with better stop loss, etc. Good luck with your trades.

Rebecca,x.
I like the way you apply patience. The market might come down to the 200sma as the previous 2 bars has tails to the top on my platform, but I agree that the emotion is to unstable at the moment. Shorter timeframe strategies has given nice trades due to the up and down uncertainty giving nice 20-30 pips ranges.
Phillip
  • #8,777
  • Nov 27, 2007 10:11am Nov 27, 2007 10:11am
hello, here is the written doc for todays wrap up by Phillip.Nov 27th.
Nadia.
Attached File(s)
File Type: doc daily wrap up Nov 27th.doc   6 KB | 512 downloads
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #8,778
  • Nov 27, 2007 10:13am Nov 27, 2007 10:13am
Quoting BIL2205
hello, here is the written doc for todays wrap up by Phillip.Nov 27th.
Nadia.
Thanks to you and all who is doing the typing.
Phillip
  • #8,779
  • Nov 27, 2007 10:19am Nov 27, 2007 10:19am
I have not posted much this week. I am a little upset with myself, but at least I have not lost any money this week.

I missed both the easy 4 hour trades on the EURUSD and the USDJPY on Monday.

Don't ask me how I over looked them, both set-up prefectly.

Today I missed a pretty easy trade on the USDCAD, due to being asleep (I can excuse that one at least).

And this morning, the EURUSD, GBPUSD, USDCAD, and USDJPY all look to be all over the place. Well the USDCAD looks to be riding very high, and no trade setting up anytime soon.

The EURUSD, GBPUSD, and UDSJPY all have broken through their 21 EMA's on this current 4 hour bar, and look to be entering a triangle mode.

Is anyone going to take any of these 3 pairs, trading them as if they were bouncing off the 21 in a TC, or is everyone waiting on the sidelines?

Crazy!
  • #8,780
  • Nov 27, 2007 10:36am Nov 27, 2007 10:36am
Quoting Phillip Nel
Thanks to you and all who is doing the typing.
Phillip
Thank you Phillip , its like you have an aswer to all my trading dilemas and where i stand in my progress, Even if i know the answer its makes a big difference to hear it from you. (Like MAcd confirmation ).Even though i did not ask you about your pipage but i was going through the phase as in how much is good enough. anyways i consider my contribution as just a drop in the ocean. goodluck to u all, hope fully euro wil show some clear direction soon, another attempt to the 89 , but still no there yet.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
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