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4 Hour Strategy (MACD)

  • #9,161
  • Dec 6, 2007 10:02am Dec 6, 2007 10:02am
Hi trader_scott,

I have actually gone short just before candle close on the usd/cad. (14:45 gmt)
@1,0160 SL@1,0200 TP@1,0095.
I know CT's are risky, that's why I moved SL to BE as soon as the trade passed the +25.
The TP is on the 21 (maybe slightly below) because it could be a TC bounce off 21.
The only thing I would worry about a TC on the usd/cad is, that the pair is
in an overbought range since november. But still there are many pips
to be made before it turns.

Greetings
  • #9,162
  • Dec 6, 2007 10:05am Dec 6, 2007 10:05am
What does everyone thing about the trade on the USDCHF going on right now. It looks like it has support on the 200 and the MACD has a good signal but the previous candle has a lot of movement in it. Is that a sign of an uncertain market or am I just thinking too far into it?
  • #9,163
  • Dec 6, 2007 10:08am Dec 6, 2007 10:08am
Quoting ragz
right now is trying to break the mid term bearish channel the 200 sma it seems to be the next step for it, with the announcement of bush, I expect to go long with it, it already bounced on the 8, maybe... maybe not...more opinions?
posible entrance: 110.26
first take profit:

Update it made it, good call to go long

I finally took it in 110.29, a little bit late, but I still believe it haves plenty of space to go up, since yesterday it was trying to break this resistance, so I´m waiting to make some pips

LIMITS??? first take profit on the first resistance and second one on the 200 SMA??
  • #9,164
  • Edited 10:37am Dec 6, 2007 10:10am | Edited 10:37am
TC off the 8ema with a morning star.
Long Entry 111.14
Stoploss 110.75
TP in full at 200SMA 111.60

Will go to breakeven after 25pips

Edit 1
I am not comfortable with the motion(for the last hour and half) at present on UsdJpy. I wont let this one go into negative. Have set it to BE allready.

Previous high of 30/11 might play a role

Edit 2
Got stopped out for BE
  • #9,165
  • Dec 6, 2007 10:38am Dec 6, 2007 10:38am
Quoting Phillip Nel
TC off the 8ema with a morning star.
Long Entry 111.14
Stoploss 110.75
TP in full at 200SMA 111.60

Will go to breakeven after 25pips

Edit 1
I am not comfortable with the motion(for the last hour and half) at present on UsdJpy. I wont let this one go into negative. Have set it to BE allready.

Previous high of 30/11 might play a role
I agree. I closed 50% of my trade +15 and set 25% to be and the other 25% -5pip stoploss
  • #9,166
  • Dec 6, 2007 10:57am Dec 6, 2007 10:57am
Quoting JimTatum
I agree. I closed 50% of my trade +15 and set 25% to be and the other 25% -5pip stoploss

I skipped this one.
Keep taking CT trades, I need more money
  • #9,167
  • Dec 6, 2007 10:59am Dec 6, 2007 10:59am
Looks like we are getting some setup's in the works, about time
Keep taking CT trades, I need more money
  • #9,168
  • Edited 10:57pm Dec 6, 2007 11:12am | Edited 10:57pm
I entered EurUsd long. Strong engulfing closing above 200sma. Aggressive turnaround. I was waiting for a move above the 12:00-16:00 candle at 1.4636.(Just to make sure the 200 is getting support and not resistance) MACD was at -45. Countertrend so the risk as there. Will watch this one live till I am out of dangerzone(+20 to 25pips)and then set to BE. 1H has given strong candle off the 21ema

Entry 1.4636
Stoploss 1.4606
Full TP 1.5666 at the 21ema

Edit 1
Have set 50% at +20pip profit and remainder at 20 trailing stop. if 50% profit target is reached, the remainder is set to BE. Have to go now.

Edit 2
Alert said 20 profit was reached. As we are at the 21 and the time it took to get there there is a possibilty of resistance so I am closing this for 20 profit.
  • #9,169
  • Dec 6, 2007 11:18am Dec 6, 2007 11:18am
Chart
Attached Image (click to enlarge)
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  • #9,170
  • Dec 6, 2007 11:22am Dec 6, 2007 11:22am
Quoting Phillip Nel
I entered EurUsd long. Strong engulfing closing above 200sma. Aggressive turnaround. I was waiting for a move above the 12:00-16:00 candle at 1.4636.(Just to make sure the 200 is getting support and not resistance) MACD was at -45. Countertrend so the risk as there. Will watch this one live till I am out of dangerzone(+20-25pips)and then set to BE. 1H has given strong candle off the 21ema

Entry 1.4636
Stoploss 1.4606
Full TP 1.5666 at the 21ema
Hmmmm, I'm watching that one for a TC. I have a trend line intersecting with the 21 around 1.4665. Anticipating market to bounce off 21 and bottom of TL....
Attached Image
  • #9,171
  • Dec 6, 2007 11:30am Dec 6, 2007 11:30am
Quoting EricthePip
Hmmmm, I'm watching that one for a TC. I have a trend line intersecting with the 21 around 1.4665. Anticipating market to bounce off 21 and bottom of TL....
That is where my TP are. I intend to go there. That engulfing candle off bottom support made me pull the trigger. Currently the price is at 50% Fib retracement of latest downmove. So I really took the waves on. But I have my flippers on and some safety guards to watch me. At least i will not drown on this one.
  • #9,172
  • Dec 6, 2007 11:37am Dec 6, 2007 11:37am
Hi to everyone,
I have just registered on the forum, but i'm watching this thread quite long.
I started to trade demo from this month.

What do you think about formation SHS on usd/jpy.
Can it go bullish now?
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy.JPG Size: 126 KB
  • #9,173
  • Dec 6, 2007 11:46am Dec 6, 2007 11:46am
Quoting Delta
Hi to everyone,
I have just registered on the forum, but i'm watching this thread quite long.
I started to trade demo from this month.

What do you think about formation SHS on usd/jpy.
Can it go bullish now?
Very nice observation. I think the 200sma will determine if it is going to stop it should it go in that direction. If there is a pullback to the 21 and a TC on MACD I will hop on board and try to stay to go with it should it go through 200sma. To me that is the safest place to get in and that is off the 21ema.

Welcome on board
  • #9,174
  • Dec 6, 2007 12:02pm Dec 6, 2007 12:02pm
Info
Attached File(s)
File Type: zip Daily Wrapup 06Dec2007.zip   817 KB | 1,536 downloads
  • #9,175
  • Dec 6, 2007 12:29pm Dec 6, 2007 12:29pm
Hi Philip,

I can't write private messages, because of not enough posts so i'm writing here.
I read your post 8996/page 600, and would like to ask you some questions about this table with your results.
1. I see that your trades are in different hours like 04:00 and 07:00 - i think that some trades are not from the begining of new 4h candle. Am i wright?
2. Some number of trades are blue and yelllow. What does it mean?
3. In some trades the gain is bigger or smaller from t/p. So you do not always use this t/p or s/l?
Ok, that was all my questions about this table.
You also wrote in this post" In October a lot of trades was done on Skype". Do you chat with traders on Skype live whet there is a signal to take a position?
  • #9,176
  • Dec 6, 2007 12:52pm Dec 6, 2007 12:52pm
Quoting Delta
Hi Philip,

I can't write private messages, because of not enough posts so i'm writing here.
I read your post 8996/page 600, and would like to ask you some questions about this table with your results.
1. I see that your trades are in different hours like 04:00 and 07:00 - i think that some trades are not from the begining of new 4h candle. Am i wright?

Yes. Some of them is off the 1H, other is when there is a breakout and a pullback I might enter after a moveaway from the breakout level.

2. Some number of trades are blue and yelllow. What does it mean?

It is the different currencies that was traded.

3. In some trades the gain is bigger or smaller from t/p. So you do not always use this t/p or s/l?

The TP is allways the planned TP. But as I cannot watch my trades alive during working hours I put one lot at 20-30 pip gain and the remainder at 20-30 trailing stop which results in a trailing stopout before my TP is hit. I just feel comfortable to know that I am covered after 20-30 pips and if the remainder gets going then a I am in with 50% and if it turns around while I cannot watch, I am covered with at least 50% at 20-30 pips.

Ok, that was all my questions about this table.
You also wrote in this post" In October a lot of trades was done on Skype". Do you chat with traders on Skype live whet there is a signal to take a position?
.
  • #9,177
  • Dec 6, 2007 1:47pm Dec 6, 2007 1:47pm
Hi all

Have a look on the charts
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 19 KB
  • #9,178
  • Edited 1:55pm Dec 6, 2007 1:52pm | Edited 1:55pm
I am watching this pair closely. It seems is finding support on 200 on daily chart. If so, is it likely to test 89 on daily? Comment please
Attached Image (click to enlarge)
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #9,179
  • Dec 6, 2007 2:02pm Dec 6, 2007 2:02pm
Quoting Phillip Nel
I entered EurUsd long.

Edit 1
Have set 50% at +20pip profit and remainder at 20 trailing stop. if 50% profit target is reached, the remainder is set to BE. Have to go now.
Hello Phillip,
I just heard the "daily wrap up", thank you. It's just my second week using the system, after all the lessons and backtesting and I'm glad that you confirmed that it was not a easy week, thanks also to all the crew in the thread that is doing a fantastic job.
Nothing to ask about the system but I have a question do you use an "expert advisor" to move the stop to BE once a target is reached?
Thanks,
Cesare
  • #9,180
  • Dec 6, 2007 2:21pm Dec 6, 2007 2:21pm
Quoting ejiexe
I am watching this pair closely. It seems is finding support on 200 on daily chart. If so, is it likely to test 89 on daily? Comment please

Look at the graph in: zoom out. I think that this pair is in chanel. Sometimes it was testing the support line and sometimes the 200, so it is possible to go few pips below 200.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.JPG Size: 113 KB
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