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4 Hour Strategy (MACD)

  • #10,401
  • Jan 15, 2008 1:56am Jan 15, 2008 1:56am
Quoting don_tgomez
Hi,

Been having problems grapling with this.
Could anyone please be so kind as to explain to me what kind of emotion are being built around this small candle today as reflected in this chart below?

Thanks in advance for your contribution.
just my opinion,canddle pattern doji,with small canddle support on 8ema and trendline ,look my chart,i think we must patience wait for signal on macd if next candle close below 8 ema i will go short with tight Sl cause counter trend but if bounce on 8 ema and trendline than signal macd coming go with TC,thanks,Just my IMHO.

"Together More Better Than Alone"
Attached Image (click to enlarge)
Click to Enlarge Name: ct.gif Size: 16 KB
  • #10,402
  • Jan 15, 2008 2:12am Jan 15, 2008 2:12am
this trade is about as aggressive as I like to get! well these day's anyway.

I know it's a counter trend, what i see is a gold very pushed eur/usd very pushed. There is a double bottom on the swissy pa, that with a positive MACD pattern to back up the double bottom, justified my long position.

i am in with 2 positions with tp's at the 8ema and the 21ema. once my and if my 1st tp is taken out i will move other to break even and let it run.

see chart

last green bar on 4 hour is my entry point got in at 15 min into the new bar.
Attached Image (click to enlarge)
Click to Enlarge Name: swissy.gif Size: 44 KB
  • #10,403
  • Jan 15, 2008 2:13am Jan 15, 2008 2:13am
a possible good TC trade(off the 8ema) on EU which didnt work and if someone took tath trade his stop loss would hitted and i think i was lucky to not be online on that time.also H1 shows a good rounf buttom whith a large green candle follow it.
any way, am i right? did it a good trade which didnt work only by bad chance or there is somthing else wrong with that trade?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur.gif Size: 28 KB
Click to Enlarge Name: eur1.gif Size: 28 KB
  • #10,404
  • Edited 3:17am Jan 15, 2008 3:03am | Edited 3:17am
Quoting bshadroo
a possible good TC trade(off the 8ema) on EU which didnt work and if someone took tath trade his stop loss would hitted and i think i was lucky to not be online on that time.also H1 shows a good rounf buttom whith a large green candle follow it.
any way, am i right? did it a good trade which didnt work only by bad chance or there is somthing else wrong with that trade?
Hi bshadroo,
This was a tough one. I took a similar trade on January 3rd and was taken out by the tail. I guess 8ema is more riskier than 21ema. Luckily my 4h macd bar failed to close green by 1 pip or so. I have also seen a couple of these almost green bar setups that turn around. Now I am waiting for the next 4h candle to give me a clearer picture.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd4.gif Size: 24 KB
  • #10,405
  • Jan 15, 2008 3:35am Jan 15, 2008 3:35am
Quoting hijackxx@hotmai
Oh, by the way.. H&S pattern formed on the price action.
Maybe it is to confirm more of the long?
Mah 2 cents
... until price crosses the neckline to confirm H&S. Right now, there's some important GBP news, and resistance at the neck, but I hope it works out for all you bulls out there.
hijackxx, next time pls don't crop the chart too much: we cannot see pair, tf, price, etc.
thanx!
  • #10,406
  • Jan 15, 2008 3:42am Jan 15, 2008 3:42am
Philip's MACD ROCkz!!
Attached Image
  • #10,407
  • Jan 15, 2008 3:42am Jan 15, 2008 3:42am
Quoting Palmer
I'm a pip away from closing one on the EU for 20. Barely moving on the Rt but I feel like being conservative here with the calendar and strength of the price with the 8ema lately.

Not sure if anyone else heard this this morning on CNBC 'The Spin Channel':

On Wednesday morning after the CPI is released, if the number is really bad (high) suggesting inflation the fed may step in and lower rates after the number is released. This is just what I heard, the truth....who knows. But, this could be an extremely volatile situation for price action along with a spread of about 20pips or so on the $ pairs.

Just thinking out loud here...pips4....whad'ya think???
Hi Palmer,
Just wanted to get it straight. Didn't hear that news but.. i thought if the inflation is high the rates are to be raised not cut. What I know is that Fed is watching both - inflation and recession. Inflation makes them consider interest rate increase whereas recession speaks about interest rate decrease. Don't know the source of that news, but it might be just an attempt to destabilize the markets that's all. The TC setup on E/U has been infected already. However, thanks for the warning.
  • #10,408
  • Jan 15, 2008 3:47am Jan 15, 2008 3:47am
Quoting 6pack
... until price crosses the neckline to confirm H&S. Right now, there's some important GBP news, and resistance at the neck, but I hope it works out for all you bulls out there.
hijackxx, next time pls don't crop the chart too much: we cannot see pair, tf, price, etc.
thanx!
I'll make sure of it next time. Thx
  • #10,409
  • Jan 15, 2008 5:09am Jan 15, 2008 5:09am
EUR/USD

Are we getting a TC trade setup here??

We have a bullish hammer forming on the 4H and its right on 8 with a spike almost to the 21.

We dont have a TC MACD confirmation yet.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd3.gif Size: 24 KB
  • #10,410
  • Jan 15, 2008 5:39am Jan 15, 2008 5:39am
On the hourly perhaps I should wait for break on the resistance of the price channel and a zero break as confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd4.gif Size: 24 KB
  • #10,411
  • Jan 15, 2008 5:47am Jan 15, 2008 5:47am
Quoting brettboz
On the hourly perhaps I should wait for break on the resistance of the price channel and a zero break as confirmation.
I like to wait some hours more: in 2h we will get some big news for USD.
  • #10,412
  • Jan 15, 2008 5:48am Jan 15, 2008 5:48am
I was stopped on my E/U long today. Although I didn't have MACD signal on the 4h, I jumped in from the 1h, as I liked how the price found support on the 21 (see the 1h chart). I don't think it was a bad deal, Phillip please correct me if I'm wrong, but there was no signal - so I knew it was risky. 1st lot -35, second - 45.

I have also take the 4th HL on G/U, because of the divergence, H&S pattern, morning star, from IB and it has already broken 21 before. 1lot -33, my SL was too close, the second +70. I wanted to re-enter on the 1.9600 level, but missed (was away). I think it can go more up. But, as I was away I set my TP, so no regret, as I executed my plan.

And one more deal today , when the market moves it moves on all pairs.
I have shorted U/J as I had a TC signal on my platform. 1lot +32, the second was set on the 30 trailing stop and was closed at +20.

So, 9 pips for the day .
Attached Image
  • #10,413
  • Jan 15, 2008 6:55am Jan 15, 2008 6:55am
Quoting >Apocalypto<
this trade is about as aggressive as I like to get! well these day's anyway.

I know it's a counter trend, what i see is a gold very pushed eur/usd very pushed. There is a double bottom on the swissy pa, that with a positive MACD pattern to back up the double bottom, justified my long position.

i am in with 2 positions with tp's at the 8ema and the 21ema. once my and if my 1st tp is taken out i will move other to break even and let it run.

see chart

last green bar on 4 hour is my entry point got in at 15 min into the new bar.
1st pos, tp on 8ema hit for +27 pips other pos stopped at BE
  • #10,414
  • Jan 15, 2008 7:12am Jan 15, 2008 7:12am
Quoting don_tgomez
Hi,

Been having problems grapling with this.
Could anyone please be so kind as to explain to me what kind of emotion are being built around this small candle today as reflected in this chart below?

Thanks in advance for your contribution.
Might be because of the PPI due out today..

PipsiCola:

This is just what I heard on Monday on CNBC. I'm not an eekonomyst...just a listener....

No positions open..
  • #10,415
  • Jan 15, 2008 8:26am Jan 15, 2008 8:26am
WOW, EUR finally decided to go up! But my TC is right under the 1.4900 level, I think I'll pass this one.
  • #10,416
  • Jan 15, 2008 8:31am Jan 15, 2008 8:31am
Hi,

Study the E/U chart. Will i be right to say that is a break in the price level which has served as a resistance line for some days now?

Should we expect a retracement back to that level and wait for that jto happen and hopefully expect price to go up to the 1.4967 high of Nov 23?

Please any observation.

P.S. TC on MACD and price bounce off 21EMA according to rhytm.
"Forex is like a bitch every trader must marry one"
  • #10,417
  • Jan 15, 2008 8:41am Jan 15, 2008 8:41am
Quoting ira
WOW, EUR finally decided to go up! But my TC is right under the 1.4900 level, I think I'll pass this one.
hi
do u read my posst #10404? even my H4 shows a tc.hope experts explain that down move first
  • #10,418
  • Jan 15, 2008 8:48am Jan 15, 2008 8:48am
Quoting bshadroo
hi
do u read my posst #10404? even my H4 shows a tc.hope experts explain that down move first
mine too.. think imma ride to it
  • #10,419
  • Jan 15, 2008 8:56am Jan 15, 2008 8:56am
I have taken 3 entries today on E/U.

This morning I went short on the failure to penetrate 4900 when the 4MACD was clearly in CT mode coming back to the 8.

I then reversed to long on the hammer on the 4H on the 8. I managed this vert tightly with little room for stop using 8 as support. It moved up and I closed the position on the top of the 1H trendline down.

Once this was broken I opened long again shooting for the 4H top trendline. My first target has been hit and I moved to BE on the rest.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd5.gif Size: 23 KB
  • #10,420
  • Jan 15, 2008 8:57am Jan 15, 2008 8:57am
That means E/U is making another record to get into it's highest high since last november. (IF WE HAVE THE FUEL TO GET THERE)
Once more we would see the sky..
We're going to fight the big boss (Highest high) once again. Entering in a few minutes.
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