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4 Hour Strategy (MACD)

  • #10,301
  • Jan 11, 2008 2:00am Jan 11, 2008 2:00am
Quoting deforexit
I took the TC on cable.
Entry 1.9573
SL 1.9605 (21 EMA on 1h chart)
1° TP 1.9545 (+28 pips) on descending TL
2° TP 1.9508 (+65 pips) on 1.95 support
I've already closed the position.
Thank you Phillip
I was waiting for this then 15mins before my 4H candle close (2am EST) - it drops 50+ pips - so I missed it.

Still waiting for the next TC .....
  • #10,302
  • Jan 11, 2008 2:42am Jan 11, 2008 2:42am
i plan to take TC short on EURCHF, waiting for a Signal in H1
Attached Image
  • #10,303
  • Jan 11, 2008 2:43am Jan 11, 2008 2:43am
Quoting maxster
I was waiting for this then 15mins before my 4H candle close (2am EST) - it drops 50+ pips - so I missed it.

Still waiting for the next TC .....
the same thing happened to me,
waiting......
Success is the small sum of efforts, repeated day in and day out.
  • #10,304
  • Jan 11, 2008 2:55am Jan 11, 2008 2:55am
Quoting maxster
I was waiting for this then 15mins before my 4H candle close (2am EST) - it drops 50+ pips - so I missed it.

Still waiting for the next TC .....
Sometimes it's necessary to enter before 4h candle close. When TC was almost formed I entered at 6.42 GMT and closed my positions at 6.52 and 8.26.
This was my last trade before 1 week holiday to Cuba.
See you monday the 21th.
Total in january + 348.5 pips.
Thank you Phillip
  • #10,305
  • Jan 11, 2008 3:28am Jan 11, 2008 3:28am
FOR PHILIP!
  • #10,306
  • Jan 11, 2008 3:44am Jan 11, 2008 3:44am
Quoting shinetrip
HOHO thanks Palmer, that's why i picked NZD, 'cause it looks weaker than others. And I have 2 hour to go .... 'cause I am using a GMT+0 server .... and I am in China so no sleep for now .... good dream!
Shinetrip, you had better follow Philip's advice. Foucus on one pair, and only trade the TC trade, you will get the feeling about the market rhythm, wish you good luck!
Plan your trades and trade your plans
  • #10,307
  • Jan 11, 2008 3:55am Jan 11, 2008 3:55am
I will be carefull to this one. Just showing that countertrend trading
is possible when the odds is in your favour. Small hanging man with a
small shooting star indicating downmove. 8Ema will be the target or
danger zone to watch carefully.
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd.GIF Size: 42 KB
  • #10,308
  • Jan 11, 2008 4:03am Jan 11, 2008 4:03am
Quoting deforexit
Sometimes it's necessary to enter before 4h candle close. When TC was almost formed I entered at 6.42 GMT and closed my positions at 6.52 and 8.26.
This was my last trade before 1 week holiday to Cuba.
See you monday the 21th.
Total in january + 348.5 pips.
Thank you Phillip
Very good my friend! enjoy Cuba, and have a Mojitos for me too!!
  • #10,309
  • Jan 11, 2008 4:14am Jan 11, 2008 4:14am
I find that 4h still can work at weekly chart, see the picture, I dawn a red horizontal line with 89sma of weekly chart of GBP/USD, you can see from 4h and 1h that how it becomes the resistance of the price.

From weely chart, we can see that the price stalls at 89sma, but if it breaks the 89sma succesfully, 200sma 1.8776 will be its target. So we can zoom into daily chart and 4h chart, wait the proper signal to be shown on chart and put the selling trigger, I think we can take lots of profit!

Wish you got lots of pips
http://www.sinaimg.cn/cj/pc/2008-01-...0111181340.jpg
Plan your trades and trade your plans
  • #10,310
  • Jan 11, 2008 4:48am Jan 11, 2008 4:48am
Your Stop Loss was 1.4817, price reached 1.4816.
Your First TP was 1.4764, price reached 1.4764.
Thank you Phillip
  • #10,311
  • Jan 11, 2008 5:23am Jan 11, 2008 5:23am
hallo ,guys


look in the chart g/u give TC if u take sl more 50 pip,if u don't have tredline(support ) very dangerous cause price after candle closing price go up,so u must draw trendline for filtering signal TC,maybe after candle closing up,divergence can give signal end of bearish.thanks



"Together More Better Than Alone"
Attached Image (click to enlarge)
Click to Enlarge Name: tc.gif Size: 18 KB
  • #10,312
  • Jan 11, 2008 5:35am Jan 11, 2008 5:35am
I hope i identify this correctly?
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 26 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #10,313
  • Jan 11, 2008 5:42am Jan 11, 2008 5:42am
Quoting ejiexe
I hope i identify this correctly?


right too,ejiexe,my bottom trendline from daily trendline .thanks






"Together More Better Than Alone
  • #10,314
  • Jan 11, 2008 6:38am Jan 11, 2008 6:38am
Quoting ejiexe
I hope i identify this correctly?
Yes you have - maybe a sign at last the trend it going to change, think i'm right in saying tho Phil teaches us to get market direction from the longer time frame EMA's
  • #10,315
  • Edited 6:41am Jan 11, 2008 6:40am | Edited 6:41am
Quoting PhilsOpinion
I will be carefull to this one. Just showing that countertrend trading
is possible when the odds is in your favour. Small hanging man with a
small shooting star indicating downmove. 8Ema will be the target or
danger zone to watch carefully.
I saw this as well after the 2300 EST candle. Being a softie for CT's I took it at 1.4807 with stop above the resistance line of 1.4813 (actually at 1.4827 to let it breathe...) Long story short, woke up to 40 pips at 1.4767, the 8EMA retrace. Sleep not so evil after all.

Thanks for the affirmation on this trade, Phillip.

Have a great weekend, y'all. I'm going to Australia for a couple of weeks on business, so I will not be able to trade the London & NY markets during work hours.

Frick
  • #10,316
  • Jan 11, 2008 6:40am Jan 11, 2008 6:40am
Anyone looking at the 1 hour, possible TC with the 21EMA on the 1H & the 8EMA on the 4H acting as dynamic support. Thoughts please?

cheers again
  • #10,317
  • Jan 11, 2008 6:44am Jan 11, 2008 6:44am
Yes Ive been watching the 1Hr all morning for possible signs of TC. It also would tie into the 4H so I think Im right in looking it as possible trade. This hour is the first green MACD if it closses where it is now. The 8 is in front as is psych level, although as I write this it looks like it may even close above the 8.
  • #10,318
  • Jan 11, 2008 6:55am Jan 11, 2008 6:55am
Quoting welshguy2000
Anyone looking at the 1 hour, possible TC with the 21EMA on the 1H & the 8EMA on the 4H acting as dynamic support. Thoughts please?

cheers again
I have been looking at it too, my concerns are: "800" round number as a support, monthly pivot R1, and a trendline. Of course, it could still go up the sky, the fundamentals are in favor, Bernanke wants to cut, Trichet wants to rise.... also watch out as it is Friday and we still have a few major news out.
  • #10,319
  • Jan 11, 2008 7:06am Jan 11, 2008 7:06am
Quoting cesare76fx
I have been looking at it too, my concerns are: "800" round number as a support, monthly pivot R1, and a trendline. Of course, it could still go up the sky, the fundamentals are in favor, Bernanke wants to cut, Trichet wants to rise.... also watch out as it is Friday and we still have a few major news out.

Agreed - i decided to take an aggressive long from the 1H and the MACD signal - its on smaller size & SL is @ 1.4749
  • #10,320
  • Jan 11, 2008 7:23am Jan 11, 2008 7:23am
Careful with the USD pairs. The 'talk' is that the trade deficit has gotten smaller = higher number = USD positive...news in 8 minutes.

Of course, talk = spin = what some people are paid to do...spin the numbers to keep us all guessing...

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