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4 Hour Strategy (MACD)

  • #9,721
  • Dec 20, 2007 8:14am Dec 20, 2007 8:14am
Hi Phillip and group,

Here is a trade I took this morning. looking for critique. I think I followed the rules correctly.

I entered based on price action and rules. Price had moved down to 89 and showed resistance. I also had a strong trend line right at the 89. This showed me there should be a bounce.

Entered at 1.6576 This allowed for a fairly short stop
Stop 16566
I set 50% to take profit +15 pips since i was not able to watch live.
Set 2nd 50% with a 15 pip trailing stop.

1st edit. 1st position hit 15 pip target.
2nd 50% now up 24 pips and stop loss moved to +5.

Thanks for the critique.
Attached Image (click to enlarge)
Click to Enlarge Name: eur chf.gif Size: 52 KB
  • #9,722
  • Dec 20, 2007 8:17am Dec 20, 2007 8:17am
Hello, here is the euro trade i did today. on Gmt Platform. Tc off of 8 ema, at 0400- 0800 candle
Enter 14368
SL 1.4398 ( few pips above the previous candle)
Tp 1.4328 ( few pips above recent low)

The two small candles before the signal candle were a decent indication for a Tc since i remember Phillip mention that he likes small candles before trend continuation. How ever the long Tail on the 1600 candle yesterday was bothering me so i only went with one lot. Profit target hit for 40 pips.
Wish u all plenty pips.
Nadia,
Attached Image (click to enlarge)
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TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #9,723
  • Dec 20, 2007 9:21am Dec 20, 2007 9:21am
I had this loss on the UsdJpy. Look at the progress of the trade. I should have closed and took the GbpUsd trade at 8:00 but decided to stay. Just show that when not very carefull and without proper analyses and especially entry point it can go wrong.
.
Attached Image (click to enlarge)
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  • #9,724
  • Dec 20, 2007 9:32am Dec 20, 2007 9:32am
Phillip:

My previous post about missing the next bounce off the 21 on the 4hr last night was a good miss. I would have stayed out because the triangle formation continues to get narrower and closer to that resistance area around 113.45ish. With the 151 pips pulled in for the week I'm done with this pair until it moves away from this area. My last position got stopped out last night (2 day hold) at b/e. Things may be getting a little thin this close to the holiday, if there is such a thing with Forex. May actually have some time to work on the car....
  • #9,725
  • Edited 11:43am Dec 20, 2007 9:33am | Edited 11:43am
16:00 GbpUsd
I took this GbpUsd trade based on TC 1H and a pullback to the 8ema as well as strong engulfing candle. 4H move is strong and below the 8ema.
Entry 1.9856
SL 1.9896
1st TP 1.9826 and set remainder to 25 trailing stop

Edit 1
1st TP taken at 1.9826 and remainder set at 25 trailing stop

Remainder closed out on trailingstop at 1.9835

Total gain 30+21=25.5 average
Attached Image (click to enlarge)
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  • #9,726
  • Dec 20, 2007 12:49pm Dec 20, 2007 12:49pm
From Delta's list of mp3's that need copying:

*1Hour Supporting 4Hour.zip /page 386; post 5790 This one has been copied in the past. The original post is 4888, page326, 4June2007. Written copy- page 458, post 6862.

I spent quite a bit of time searching for this one on the thread, but I knew I had copied it. I had a copy of my own. Too bad threads aren't indexed, but you can't have everything, can you? Also, too bad I didn't start out putting post and page number on my own copies. It would have been easy if I had.
Edit: 4Hour and 1Hour Supporting Signals.zip /page 271; post 4064 This one is incomplete, so I won't copy it. I remember having that problem with it in the past.
  • #9,727
  • Dec 20, 2007 12:53pm Dec 20, 2007 12:53pm
Quoting OldDog
From Delta's list of mp3's that need copying:

*1Hour Supporting 4Hour.zip /page 386; post 5790 This one has been copied in the past. The original post is 4888, page326, 4June2007. Written copy- page 458, post 6862.

I spent quite a bit of time searching for this one on the thread, but I knew I had copied it. I had a copy of my own. Too bad threads aren't indexed, but you can't have everything, can you? Also, too bad I didn't start out putting post and page number on my own copies. It would have been easy if I had.
Thanks
Too bad also I didnt kept book of certain important posts page numbers. Have started to do so lately. Thanks for your efforts
Phillip
  • #9,728
  • Dec 20, 2007 1:25pm Dec 20, 2007 1:25pm
Quoting Phillip Nel
Thanks
Too bad also I didnt kept book of certain important posts page numbers. Have started to do so lately. Thanks for your efforts
Phillip
You're welcome, Phillip, and, as always and much more importantly, thank you! If I ever get my discipline down enough to become a profitable trader, it will be thanks to you. Actually, once I stop trading during the worst hours, I think I will see a big change in my trading. Price usually moves too slowly during my trading times. However, I owe a life debt to you because you have me thinking of discipline and priorities in all areas of my life, and I see how much there is to change! Thank you again.
  • #9,729
  • Dec 20, 2007 2:19pm Dec 20, 2007 2:19pm
Quoting Phillip Nel
Thanks
Too bad also I didnt kept book of certain important posts page numbers. Have started to do so lately. Thanks for your efforts
Phillip
Hi Phill

Im a pretty new member in here.

I read somewhere in the 3d that u stay in touch with other members through Skype... How can I stay in touch with u too and have live track of ur trades? Maybe your Skype address is somewhere in the 3d but i cnat find it.

Well thanx a lot 4 everything, ur teaching 1st of all!

P.S. I'm studying so hard as there is a lot of documents to go through but its ok!!
  • #9,730
  • Dec 20, 2007 2:25pm Dec 20, 2007 2:25pm
Hello,

I find some difficulties in opening trades in December. Is it only me or also you think that market has lost his Rhytm???

Greetings
Michael
  • #9,731
  • Dec 20, 2007 2:55pm Dec 20, 2007 2:55pm
I am watching this pair very closely. Both the 4 hours and Daily are in a good channel. I hope is going to fine support at 200 on daily chart with good RB. There is already a ZB on the 4hr and is also resting on 61.8 fib. I hope am right anyway.
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #9,732
  • Dec 20, 2007 4:58pm Dec 20, 2007 4:58pm
hi all
its my view for usdjpy.i think a triangle is forming there.it is playing a range between 365 H4 (down)and 89 daily(up) and a break out trade is looking good.but the only concern is a daily down trend line in up and the 61.8 fibo in up and it seem that there is no enough place to go up.may be a buy in lows will better specially it now near the daily uptrend.
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  • #9,733
  • Dec 20, 2007 5:04pm Dec 20, 2007 5:04pm
Sleep killed me last night (ugh, late phone call).

Took the first trade I saw today. A TC long on the USDJPY. Got in at 113.19 (with spread). Stop loss at 112.95 (previous bar low). Target profit at 113.35 (below previous resistence, so if I am away from my computer, I don't get a gain and then miss out on taking the profit).
  • #9,734
  • Dec 20, 2007 9:23pm Dec 20, 2007 9:23pm
Eur just above the 8ema, GBP just under. Looking for some TC's overnight...

Setting alarms on the 1hr....
  • #9,735
  • Dec 20, 2007 11:10pm Dec 20, 2007 11:10pm
Was going thru my folders on my desktop and found this mp3 and gif that phillip did about candelstick patterns........saka needed it typed out for him so i typed the doc and emailed it to him....dont know if a doc was ever done on it before or not but here is a zipped file of the mp3,gif, and doc..... may be of some benefit to someone......pipip ....JimDandy
Attached File(s)
File Type: zip candlesticks.zip   645 KB | 3,427 downloads
  • #9,736
  • Dec 21, 2007 12:21am Dec 21, 2007 12:21am
Quoting JimDandy
Was going thru my folders on my desktop and found this mp3 and gif that phillip did about candelstick patterns........saka needed it typed out for him so i typed the doc and emailed it to him....dont know if a doc was ever done on it before or not but here is a zipped file of the mp3,gif, and doc..... may be of some benefit to someone......pipip ....JimDandy
thx jim,
have you tried to open this zip?
After downloading it, i cannot open it. Get an error message from the zip
  • #9,737
  • Dec 21, 2007 1:08am Dec 21, 2007 1:08am
change name of zip to .rar instead of .zip and see if that works....it opens fine on my computer......
pipip.......JImdandy
  • #9,738
  • Dec 21, 2007 1:31am Dec 21, 2007 1:31am
My trades today:

E/U long enter 1,4368 SL 1,4323 TP1 1,4400 TP2 1,4445 (first take profit was hit while I was writing, the second lot is put to b/e)
Reasons for trade - from 89 on the daily, with the rules of Market Rhythm. From TL, IB, daily oversold, divergence, tails down through the TL, bullish candle.
The only consern was that it's CT and 21 ahead.

U/J short enter 113,08 SL 113,33 TP1 112,85 (365 MA) TP2 112,02 (daily 21)
The price is still in consolidation channel, so it's a risky trade, but I want to position myself for a break to the downside, there is still room to the 365, so will close one lot there, and the second to the breakeven. I also like that SL is not very big.
  • #9,739
  • Edited 2:49am Dec 21, 2007 2:45am | Edited 2:49am
Quoting ira
My trades today:

E/U long enter 1,4368 SL 1,4323 TP1 1,4400 TP2 1,4445 (first take profit was hit while I was writing, the second lot is put to b/e)
Reasons for trade - from 89 on the daily, with the rules of Market Rhythm. From TL, IB, daily oversold, divergence, tails down through the TL, bullish candle.
The only consern was that it's CT and 21 ahead..

Good job on e/u trade, Ira! All I see in hindsight is that price failed to break the 4300 level yet - the closest it got was only 4309. Thus I hesitated to enter on the last TC signal. And then a bullish engulfing candle came along with a MACD signal (also a good R:R ratio) - a high probability counter trend trade back to 21ema. Now let's see if the market gives us a TC trade off 21ema that has stopped the upmove so far.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 26 KB
  • #9,740
  • Dec 21, 2007 2:55am Dec 21, 2007 2:55am
Quoting JimDandy
Was going thru my folders on my desktop and found this mp3 and gif that phillip did about candelstick patterns........saka needed it typed out for him so i typed the doc and emailed it to him....dont know if a doc was ever done on it before or not but here is a zipped file of the mp3,gif, and doc..... may be of some benefit to someone......pipip ....JimDandy
Good job Jim
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