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4 Hour Strategy (MACD)

  • #9,281
  • Dec 10, 2007 6:02am Dec 10, 2007 6:02am
11:00 EurUsd




Waiting for the high of recent candles to be breached as the TC given on the 8:00 candle was very little. 1 Hour confirmation given.




Entry 1.4660 On 1H confirmation.


SL 1.4627


1st TP 1.4697 at Res Line

2nd TP 1.4742 at 89SMA
  • #9,282
  • Edited 7:08am Dec 10, 2007 7:08am | Edited 7:08am
Hi i hava e question, According to rules price breaks 21 -- pulls back to it and then move away to the 89, in the current trade price never really closed above 21 it kind of travelled along it closing below it every time. and then the candle after the break out candle seems to be moving straight to the 89.

Now the macd gave a nice TC signal and the TC culd have been taken to 89 But i waited for it to pull back to 21 before moving to 89. What did i miss???
Thanks ,
Nadia.

NOTE: i posted a clean chart on purpose to focus on the motion with moving averages.
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TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #9,283
  • Dec 10, 2007 7:52am Dec 10, 2007 7:52am
Quoting BIL2205

Now the macd gave a nice TC signal and the TC culd have been taken to 89 But i waited for it to pull back to 21 before moving to 89. What did i miss???
Thanks ,
Nadia.

NOTE: i posted a clean chart on purpose to focus on the motion with moving averages.
Hello dear,
i do not think you missed anything, it's just that "the only cetainty about the market is that nothing is certain"
  • #9,284
  • Dec 10, 2007 8:08am Dec 10, 2007 8:08am
Quoting BIL2205
Hi i hava e question, According to rules price breaks 21 -- pulls back to it and then move away to the 89, in the current trade price never really closed above 21 it kind of travelled along it closing below it every time. and then the candle after the break out candle seems to be moving straight to the 89.

Now the macd gave a nice TC signal and the TC culd have been taken to 89 But i waited for it to pull back to 21 before moving to 89. What did i miss???
Thanks ,
Nadia.

NOTE: i posted a clean chart on purpose to focus on the motion with moving averages.
Yes, I was waiting for a pull back too . I guess it just happens from time to time, even in my rules I have the following: sometimes the price after closing below/above 21 will not come back to it, but will go straight to the 89.

I think it's the case when we should have looked at 1h chart. There I had a TL, which has been broken and retraced, I think it was the best way to enter, but I have also missed it.
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  • #9,285
  • Edited 9:01am Dec 10, 2007 8:10am | Edited 9:01am
Quoting EricthePip
Mine does show red 00:00 candle. 200 too close for a good R:R, however, it didn't provide much resistance on 12/6. Plenty of room to my trend line.

Took the short SL 1.4674, first tp at 30 pips, second at 60, rest let run (3 orders)

Will move to BE if/when the first TP is hit.

Waiting for possible TC on the yen (long)....
I'm "rushing" into trades. As Ryan pointed out last night, this pair did NOT have PAction. Trade was entered based on an expectation, not based on momentum or motion. Should have been waiting for the market to show it's hand, rather than imposing my expectations on the market... (good to be in demo mode).... Flat for the month, but learning....
  • #9,286
  • Dec 10, 2007 8:14am Dec 10, 2007 8:14am
Hi Phillip and crew.

Please review my trade from last night. Was it a good trade that just had bad luck or a bad trade.

I thought it was following the rythym breaking the 21 then retrace. Then the 00 to 400 candle closed with macd turning red. Is that a TC pattern short?? or did I just mis read that pattern on the macd???

Please help. I think I just misread the macd confirmation for a short trade. As I look back I do not see that pattern in phils examples.... Thanks for the help
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  • #9,287
  • Dec 10, 2007 8:32am Dec 10, 2007 8:32am
Quoting ira
Bshadroo, i know that only your plan matters, but I want to warn you once again about trading without a signal. You can easily find bias for long at the moment too. So MACD signal can help us to distinguish the direction.
hi
u were right man
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  • #9,288
  • Dec 10, 2007 8:50am Dec 10, 2007 8:50am
Phil- Been reading the forum since October a FX newbie and very impressed by your expertise,the expertise of fellow board folks and everyones willingness to share. I look forward to adding to the community when it makes sence. Once again as other before me have stated your kindness expertise and generosity of your knowledge, time and guidance is appreciated.
scottyd
  • #9,289
  • Dec 10, 2007 8:54am Dec 10, 2007 8:54am
Quoting JimTatum
Hi Phillip and crew.

Please review my trade from last night. Was it a good trade that just had bad luck or a bad trade.

I thought it was following the rythym breaking the 21 then retrace. Then the 00 to 400 candle closed with macd turning red. Is that a TC pattern short?? or did I just mis read that pattern on the macd???

Please help. I think I just misread the macd confirmation for a short trade. As I look back I do not see that pattern in phils examples.... Thanks for the help
In my opinion the safest bet would've been to wait for a zero line break on the 4 hr. If you were playing the 4hr/1hr entry you probably would've been in the trade.
  • #9,290
  • Dec 10, 2007 9:05am Dec 10, 2007 9:05am
Quoting JimTatum
Hi Phillip and crew.

Please review my trade from last night. Was it a good trade that just had bad luck or a bad trade.

I thought it was following the rythym breaking the 21 then retrace. Then the 00 to 400 candle closed with macd turning red. Is that a TC pattern short?? or did I just mis read that pattern on the macd???

Please help. I think I just misread the macd confirmation for a short trade. As I look back I do not see that pattern in phils examples.... Thanks for the help
Apparently the market didn't like our upper trend lines... NO RESPECT!!!!

I don't think it was a bad trade/expectation, however, I think we were imposing our expectations, on a week MACD signal. Market hadn't shown it's hand
  • #9,291
  • Dec 10, 2007 9:22am Dec 10, 2007 9:22am
See post 9282 for original trade
Attached Image (click to enlarge)
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Attached File(s)
File Type: zip Daily Wrapup 10Dec2007.zip   781 KB | 1,330 downloads
  • #9,292
  • Dec 10, 2007 9:24am Dec 10, 2007 9:24am
Looking for a RT for a short, off this support turned resistence area. Resistence area around 2.0450-2.0525.
  • #9,293
  • Dec 10, 2007 9:28am Dec 10, 2007 9:28am
Quoting HipsterPipster
Looking for a RT for a short, off this support turned resistence area. Resistence area around 2.0450-2.0525.
Sorry, having trouble with chart attachments
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  • #9,294
  • Dec 10, 2007 10:31am Dec 10, 2007 10:31am
Quoting Phillip Nel
See post 9282 for original trade

I took this as a short, was reading it wrong lol. Oh well it happens only lost 20ish.
Keep taking CT trades, I need more money
  • #9,295
  • Dec 10, 2007 10:53am Dec 10, 2007 10:53am
Dear philip and all traders

Today when the 8am candle start on GBP it was on zero line until 10 oclock then it begins cross over the zero .. so I enter at 2.0660 as it break the previous high of the previous candle .. is my way is correct.. whereas the next 4h candle pulback to the 21 and then back to continue up which is very nice TC signal.

Your advise is preciated

Ammar
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  • #9,296
  • Dec 10, 2007 11:04am Dec 10, 2007 11:04am
Hi all

It was amazing trade on eur today entry from previous canlde before the signal candle,, have a look .. goodluck
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  • #9,297
  • Dec 10, 2007 11:26am Dec 10, 2007 11:26am
anybody in the second TP of the EURUSD long?
  • #9,298
  • Dec 10, 2007 1:23pm Dec 10, 2007 1:23pm
Last week I Posted this chart with view that price is finding support at 200sma on daily chart and the pride may likely retest 89 before coming down. Right, let look at the rule again. When the price move through 89, it tends to go back to 21 before move on. I think this is what is happening right now on the daily chart. 21 is very close 89 and this made it a very strong resistance. I will be looking at this pair closely!. The USD interest rate news tommorow will likely push the price up to hurt the stop loss before coming down MAY BE OR MAY BE NOT. Please comment if I am wrong.
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #9,299
  • Dec 10, 2007 1:23pm Dec 10, 2007 1:23pm
Quoting neilzep
anybody in the second TP of the EURUSD long?

Yes I am still in. See chart
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  • #9,300
  • Dec 10, 2007 1:25pm Dec 10, 2007 1:25pm
News may also push the price to the upper channel before coming down or will may see the beginning of another BULL RUN
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
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