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4 Hour Strategy (MACD)

  • #9,461
  • Dec 13, 2007 2:55pm Dec 13, 2007 2:55pm
Possible long MACD confirmation on the GBPUSD.

If I take it, my target price would be around 2.0440, where I have a trendline.
  • #9,462
  • Dec 13, 2007 3:03pm Dec 13, 2007 3:03pm
Quoting Palmer
I agree...That double top is right at the 100% FIb # so if that is taken out then you should get a nice run up from there...
As we all know have to wait and see, only thing I dislike about this trade is the double top Also have been long about 8 hours, most winners off of TC get moving quick lol
Keep taking CT trades, I need more money
  • #9,463
  • Dec 13, 2007 3:04pm Dec 13, 2007 3:04pm
Quoting unlv_tj
Possible long MACD confirmation on the GBPUSD.

If I take it, my target price would be around 2.0440, where I have a trendline.
I was thinking more of a short, I don't like this setup anyway. MA's are all over it and it's just not in a good trend. I will wait on this but I did see it. You can enter long on this w/ a tight stop though because support on the last drive down.
Keep taking CT trades, I need more money
  • #9,464
  • Dec 13, 2007 3:11pm Dec 13, 2007 3:11pm
Here is a chart of what I have been trading this week, on my 3rd TC long. 1st was on 12-10-07 @ 8:00, 2nd was 12-12-07 @ 8:00, 3rd was today @ 10:00. Not sure about today but the others have paid off well
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.jpg Size: 140 KB
Keep taking CT trades, I need more money
  • #9,465
  • Dec 13, 2007 3:23pm Dec 13, 2007 3:23pm
Wow Ryan.

How many different pairs do you follow?

I follow 5 currently.
  • #9,466
  • Edited 10:13pm Dec 13, 2007 3:30pm | Edited 10:13pm
Hello,

my trades at candle close

eur/usd

long @1.4626
sl @1.4590 (below 1.4600 support) 2x -36
tp a @1.4650 (8ema) +24
tp b @ 1.4670 (21ema) +44
r:r 72:68 0.94

round bottom is forming on macd, 1.4600 has made for support.
rule #10 applies

edit: CT was very slow ... very little movement during the last 8 hours.
risky to keep it during european session start.
trades closed: 2x + 15 pips

usd/chf

short @ 1.1416
sl @ 1.1455 (365ema) 2x - 39
tp a @1.1388 (8ema) + 28
tp b @ 1.1350 (21ema) +66
r:r 78:94

macd is forming a round top with resistance around 365.
at least a move back to 8 and TL is possible. BE by then and
maybe continuation down to 21
rule #10 may also apply here

edit: also here CT very slow. risky to keep trades during european session start.
trades closed: 2x +8 pips

total: + 46 pips

I apprechiate comments and corrections

Greetings
  • #9,467
  • Dec 13, 2007 3:33pm Dec 13, 2007 3:33pm
Quoting unlv_tj
Wow Ryan.

How many different pairs do you follow?

I follow 5 currently.

About 10 but it takes 10 seconds to check each one and I do it every 4 hours, I do just TC patterns so it's pretty easy. After a while you can look at a chart and know nothing is going to happen for 8+ hours. It's my fulltime job so I have to watch them all lol
Keep taking CT trades, I need more money
  • #9,468
  • Dec 13, 2007 3:34pm Dec 13, 2007 3:34pm
Hello,

I still have problems evaluating macd divergences.

What does this macd divergence on the aud/usd mean?

Thank you
Attached Image
  • #9,469
  • Dec 13, 2007 3:34pm Dec 13, 2007 3:34pm
Quoting ashes
Hello,

my trades at candle close

eur/usd

long @1.4626
sl @1.4590 (below 1.4600 support) 2x -36
tp a @1.4650 (8ema) +24
tp b @ 1.4670 (21ema) +44
r:r 72:68 0.94

round bottom is forming on macd, 1.4600 has made for support.
rule #10 applies

usd/chf

short @ 1.1416
sl @ 1.1455 (365ema) 2x - 39
tp a @1.1388 (8ema) + 28
tp b @ 1.1350 (21ema) +66
r:r 78:94

macd is forming a round top with resistance around 365.
at least a move back to 8 and TL is possible. BE by then and
maybe continuation down to 21
rule #10 may also apply here

I apprechiate comments and corrections

Greetings
Nice CT trades, both have long tails so you should be fine.
Keep taking CT trades, I need more money
  • #9,470
  • Dec 13, 2007 3:49pm Dec 13, 2007 3:49pm
Quoting ashes
Hello,

I still have problems evaluating macd divergences.

What does this macd divergence on the aud/usd mean?

Thank you

ashes:

For bullish divergence: price makes a lower low and the MACD makes a higher low.

For bearish divergence: price makes a higher high and the MACD makes a lower high.
Attached Image
  • #9,471
  • Dec 13, 2007 4:04pm Dec 13, 2007 4:04pm
here is my take on GU , only time will tell but here is an anticipation of a possible 3 sisters in my opinion,, accompanied by a TC on macd would be nice move down. Any comments???
Attached Image (click to enlarge)
Click to Enlarge Name: gu 3 sisters.jpg Size: 165 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #9,472
  • Dec 13, 2007 4:19pm Dec 13, 2007 4:19pm
Hi Raymond, Hey could you look at my post # 9460???
I am also trying to trade just TC Patterns. I have a question there I could use some help on.


Thanks
  • #9,473
  • Dec 13, 2007 4:25pm Dec 13, 2007 4:25pm
Quoting JimTatum
Phillip,,, Please look at the chart below. If one was trying to trade only TC patterns on the 4hr stratagey. (watching 4hr charts only) Here are the rules I would follow. Please add or subtract to this list as you feel needed.

1. Only trade TC in directon of market rythym or motion. I define that as look for up trades when price is above the 89. Look for down trades when price is below 89. Be carefull when price is crossing back and forth over the 89 Price may be having trouble finding direction.


*** Yep, this is what I do. Also I want the 8 and 21 ma's to be in trend as well so if it says long I want price to be above the 89, 21, and at the 8ma.

2. look for market to be in rythym. I would define that as price action finding support or resistance on the 8 or the 21 after price has pierced them. Then look for trade after price has made retrace back to show support or resistance on those averages.


*** Perfect.

3. After the above has been met look for macd confirmation of TC Pattern.

On chart below would that be considered a Sell TC pattern???? or does the pattern need to form below the zero line?????? I am having a little trouble idenifing this?? can a TC pattern for a long be formed above or below the zero line or must it be above for a long TC and below for a short TC.. I hope this makes sence.


*** I look for TC's off the 21 or 8ma MOST of the time, once in a while I will get long off the 89 MA. It's really all about price action and how it work. Post up some losing trades and I will try to help.

Thanks for the help.

Reply in quote.
Keep taking CT trades, I need more money
  • #9,474
  • Dec 13, 2007 4:32pm Dec 13, 2007 4:32pm
Quoting Ryanmcd
Reply in quote.
My question is if you look at my chart I have a red arrow posted at what I would call a TC pattern for a sell. But it is above the zero line on the macd. Is that a valid Tc pattern or does it need to be Below the Zero line???

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 58 KB
  • #9,475
  • Dec 13, 2007 4:42pm Dec 13, 2007 4:42pm
Quoting BIL2205
here is my take on GU , only time will tell but here is an anticipation of a possible 3 sisters in my opinion,, accompanied by a TC on macd would be nice move down. Any comments???

Nadia:

Per your chart, "ditto" what you said. If the third sis comes back to the 89 and signals a short....I miss Tam's posts about these 'kids'...
  • #9,476
  • Dec 13, 2007 4:46pm Dec 13, 2007 4:46pm
Quoting JimTatum
My question is if you look at my chart I have a red arrow posted at what I would call a TC pattern for a sell. But it is above the zero line on the macd. Is that a valid Tc pattern or does it need to be Below the Zero line???

Thanks

I took that short if you look back, It was right at the 89 if I remember and to me I really don't look at what side the macd is on, RED = sell GREEN = buy, when it's in a strong trend then it will always be on the side of the trade. But stuff like we are having this week it's not always the case.
Keep taking CT trades, I need more money
  • #9,477
  • Dec 13, 2007 4:49pm Dec 13, 2007 4:49pm
Quoting Ryanmcd
I took that short if you look back, It was right at the 89 if I remember and to me I really don't look at what side the macd is on, RED = sell GREEN = buy, when it's in a strong trend then it will always be on the side of the trade. But stuff like we are having this week it's not always the case.

Thanks
  • #9,478
  • Dec 13, 2007 6:55pm Dec 13, 2007 6:55pm
Hi All!

I have a lot of catching up to do, and very little time! Yikes, Love December!!

First: Nice Job to all you E/U shorts! Also, a shout out to Ashes who had th Swissie Long!! Good job at following your plans and making pips!!

Second: Nice posts to Rebecca everyone! We all go through bouts of non-confidence rgularly -- that is the beauty of trading!! I'm just pulling myself out of an abyss too (and Ira's words about the "Zen" recovery are so right on!! That is how I got my "feeling" back).

Third: regarding TC -- when we are referring to TC we are talking about a MACD pattern (maybe we get this confused in our postings) -- but strictly speaking a TC is a "trigger pattern." So, in the strictest of terms, a TC can only be on one side of the MACD -- i.e long TC's have to be above the zero line, short TC's have to be below the zero line. If you are talking long term chart trends (i.e. Euro is in an uptrend, so I only buy -- then that is something else and not a TC per method definitions).

Lastly, BenS...regarding the nesting dolls, inside tops, etc. I saw the post and can't comment for Tam -- but the chart you posted looks like a buy (she uses the Inside Bottom for that trigger -- but what you posted is absolutely correct -- you must confirm the patternw/MACD direction or reversal candle. I trade it a bit diffirently than Tam did(does) and will explain more later.

Nice charts, Palmer Glad to see you are back!! Missed you while you were away!

& Phillip...I was thinking....

Best to all,
Pips
  • #9,479
  • Dec 13, 2007 7:03pm Dec 13, 2007 7:03pm
Just think of that last lower MACD bottom like a sling shot that would shoot price higher !!!!!!!!!!!

Quoting ashes
Hello,

I still have problems evaluating macd divergences.

What does this macd divergence on the aud/usd mean?

Thank you
  • #9,480
  • Dec 13, 2007 8:37pm Dec 13, 2007 8:37pm
Hello,

Please, I would appreciate if somebody explains me the next two phrases:

1- “The remainder (a second lot) is set to 20 to 25 trailing stop”


2- “Goes to BE”


Thank you
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