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4 Hour Strategy (MACD)

  • #10,641
  • Edited 1:40am Jan 23, 2008 1:39am | Edited 1:40am
Weird, but my calendar also didn't show the rate decision in USA. I saw that price behaved strangely, so I thought to myself - it's better to stay out, and then I read about 75% cut. That again justifies Phillip's words in his lesson 3 - the price action tells me what the fundamentals are".
Nothing so far on the pairs I trade, let's wait for the trade to come.
  • #10,642
  • Edited 8:27am Jan 23, 2008 2:40am | Edited 8:27am
Just took a short on CAD

- Through 21 - Retest 21 to 89
- Nice 1H Basing Pattern Resistance
- Price Failed to go Up 3 Times at 50% Fib of yesterday's HiLo on 1H

Entry 1.0277
SL 1.0316
Half SL risk when price reaches 1.0247
1ST 50%PT 1.0237
Auto Trail Remaining 50% at last 1H Candle High after PT1 is hit beyond BE

Going to sleep and not watching trade just letting computer execute my plan.

EDIT1: Closed at BE - don't like the candle movement.
  • #10,643
  • Jan 23, 2008 3:10am Jan 23, 2008 3:10am
Quoting ira
Weird, but my calendar also didn't show the rate decision in USA. I saw that price behaved strangely, so I thought to myself - it's better to stay out, and then I read about 75% cut. That again justifies Phillip's words in his lesson 3 - the price action tells me what the fundamentals are".
Nothing so far on the pairs I trade, let's wait for the trade to come.
Hi Ira,
It was an Emergency Meeting.we didn't have it in our calendar.

Mike
Failure, is a wonderful teacher!
  • #10,644
  • Jan 23, 2008 5:24am Jan 23, 2008 5:24am
i'd say it is not trade-able right now. the price is all over the place.
  • #10,645
  • Jan 23, 2008 6:12am Jan 23, 2008 6:12am
Quoting mike1349
Hi Ira,
It was an Emergency Meeting.we didn't have it in our calendar.

Mike
Hi guys!

The emergency meeting has been anticipated for over a week now....but, the move is very important signal from the fed that things are not rosy on the economic front! This is the first time in almost 30 years that the fed has cut so much on 1 meeting -- and if you think about it, it could put us in another bubble situation where Bernake is now the villan (like Greenspan is being portrayed). I've been sitting out waiting for the "surprise" to happen...now in a few days we may see the actual sentiment for a longer period (my guess is still chop and fear). Oh these are interesting times! Scary for us involved in mortgages and in California! Yikes!! Of course, on the flip side, it is times like these that make fortunes! Good luck and be wise people!! Think about what you are doing and why....Still going to stick to my strategy of selling strength on yen pairs (it's been a good strategy so far)....and waiting for the charts to tell me what to do on others!

Happy trading,
Pips
  • #10,646
  • Jan 23, 2008 7:07am Jan 23, 2008 7:07am
Quoting pips4uandme
Hi guys!

The emergency meeting has been anticipated for over a week now....but, the move is very important signal from the fed that things are not rosy on the economic front! This is the first time in almost 30 years that the fed has cut so much on 1 meeting -- and if you think about it, it could put us in another bubble situation where Bernake is now the villan (like Greenspan is being portrayed). I've been sitting out waiting for the "surprise" to happen...now in a few days we may see the actual sentiment for a longer period (my guess is still chop and fear). Oh these are interesting times! Scary for us involved in mortgages and in California! Yikes!! Of course, on the flip side, it is times like these that make fortunes! Good luck and be wise people!! Think about what you are doing and why....Still going to stick to my strategy of selling strength on yen pairs (it's been a good strategy so far)....and waiting for the charts to tell me what to do on others!

Happy trading,
Pips
Hi Pips,
Hopefully you are doing fine.
It's really a good strategy Pips,Specially right NOW!! (They dropped only few hundred pips)
Failure, is a wonderful teacher!
  • #10,647
  • Jan 23, 2008 7:13am Jan 23, 2008 7:13am
Thank you Mike, Pips - I thought I have missed something .
  • #10,648
  • Jan 23, 2008 7:13am Jan 23, 2008 7:13am
Quoting arodriguez
Hello everyone,

New posting here. I am using 4h MACD system since November 2007, just following a downtrend channel in GBPUSD. My LT targets are 1.8650 and 1.8301.

Today, trying to reset shorts at MA89 if possible. A consolidated break above MA89 cancel my ST bearish outlook. A break above MA200 could cancel my LT bearish outlook.

Good luck to all. Thanks to Phil.

A. Rodriguez

arod: Welcome to the thread! Staying with the trend is the way to go.

Ditto what pips said: Volatility Volatility Volatility.....


Go Yanks!
  • #10,649
  • Jan 23, 2008 7:48am Jan 23, 2008 7:48am
Today I took a nice CT sell from 1.9576 when first macd 4HR shown me bear sign, and so did the price action. My trade is now still floating. Like I said before, CT goes against my favour first, (it was -30ish) then it goes back to my favour. I wish I can show you guys the chart, but my photoshop is giving me error message *sigh* . I think I have to reinstall it.
  • #10,650
  • Jan 23, 2008 8:13am Jan 23, 2008 8:13am
Quoting hijackxx
Today I took a nice CT sell from 1.9576 when first macd 4HR shown me bear sign, and so did the price action. My trade is now still floating. Like I said before, CT goes against my favour first, (it was -30ish) then it goes back to my favour. I wish I can show you guys the chart, but my photoshop is giving me error message *sigh* . I think I have to reinstall it.
hijackxx:

Are you using MT4? Just wondering why you have to drop them into Photoshop first...

It's a lot easier to trade when you don't watch the charts I agree...
  • #10,651
  • Edited 8:51am Jan 23, 2008 8:33am | Edited 8:51am
hi ,guys ,I think your trade not CT cause price below 89 sma just stop lose over 50 pips,and the best trade wait price of 21 ema than take trade.question
for mr.philip or mr.palmer,do you agree with my comment,please sharing




"Together More Better Than Alone"
Attached Image (click to enlarge)
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  • #10,652
  • Edited 9:56am Jan 23, 2008 8:49am | Edited 9:56am
Quoting Palmer
hijackxx:

Are you using MT4? Just wondering why you have to drop them into Photoshop first...

It's a lot easier to trade when you don't watch the charts I agree...
yeah, I do use MT4. Don't tell me there's another way to edit captured screen using MT4!

I don't know but, I'm addicted to this. I just can't leave the desk! I love to see my trade doin' ups and downs without any external interference :, no matter it is a positive nor negative trades. And the fun part is that, even my girlfriend does mad at me because of forex
One day she was like.. "Go marry that forex instead of marrying women!"
  • #10,653
  • Jan 23, 2008 9:01am Jan 23, 2008 9:01am
To put a chart on the forum just right click, save as, then save it as an image then attach it to your post.

Good luck everyone for the rest of the week. I am going to hit the slopes in New Mexico and hopefully come back with a clear mind and better markets, I am at Break Even for the month. Hopefully February will be better.
  • #10,654
  • Jan 23, 2008 9:11am Jan 23, 2008 9:11am
Info
Attached Image(s) (click to enlarge)
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  • #10,655
  • Jan 23, 2008 9:14am Jan 23, 2008 9:14am
Quoting vette1974
To put a chart on the forum just right click, save as, then save it as an image then attach it to your post.

Good luck everyone for the rest of the week. I am going to hit the slopes in New Mexico and hopefully come back with a clear mind and better markets, I am at Break Even for the month. Hopefully February will be better.
thanks a lot! new lesson learnt.
what if u want to edit the chart? could that be done as well?
  • #10,656
  • Jan 23, 2008 9:27am Jan 23, 2008 9:27am
fed cut the rate 75% wich was a record in recent years... well ... but what the eurusd did?
run 100pips in 1 minute after (OK) then went another 80pips(totaly 180pips
) in about 8hours( not a good move ,i was axpecting more) and then backed all the 200pips down !!!
i was really expecting at least 500pips(totaly) move in eurusd and a going back to 1.49's or even breaking that
this kind of action to the 75% rate cut is very very strange and all i want to say is this: be very very carefull about this kind of market thease days and better dont trade, i think market has'nt any rythm thease days and can be very dangerous
(just my oponion due to my experience and could be wrong)
  • #10,657
  • Edited 9:53am Jan 23, 2008 9:41am | Edited 9:53am
Quoting bshadroo
fed cut the rate 75% wich was a record in recent years... well ... but what the eurusd did?
run 100pips in 1 minute after (OK) then went another 80pips(totaly 180pips
) in about 8hours( not a good move ,i was axpecting more) and then backed all the 200pips down !!!
i was really expecting at least 500pips(totaly) move in eurusd and a going back to 1.49's or even breaking that
this kind of action to the 75% rate cut is very very strange and all i want to say is this: be very very carefull about this kind of market thease days and better dont trade, i think market has'nt any rythm thease days and can be very dangerous
(just my oponion due to my experience and could be wrong)
Remember that what you're talking about are all fundamentals. From what I see, technically speaking, is that larger trend is still going bearish. 4HR MACD shown us bearish and price was stopped out at approx. fibonacci 50%retracement and then goes back bearish.

EDIT:
There's still a possibility though for E/U to go back bullish because of the long legged doji(if im not mistaken for the name of the candle). MACD is needed for confirmation.
Attached Image (click to enlarge)
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  • #10,658
  • Jan 23, 2008 9:50am Jan 23, 2008 9:50am
And here's the trade i took on GU which is currently still runnin'.
Stoploss was set to 1.9656 (which is the top candlestick) at first, then I changed it to breakeven by the time the trade was +25. And now SL moved to previous support because I'm expecting more downward movement. Hope this helps. Good luck

And another trade I took today was a sell on E/U and kept me short for 15pips because I wasn't sure.
Attached Image (click to enlarge)
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  • #10,659
  • Jan 23, 2008 9:54am Jan 23, 2008 9:54am
Quoting hijackxx
Remember that what you're talking about are all fundamentals. From what I see, technically speaking, is that larger trend is still going bearish. 4HR MACD shown us bearish and price was stopped out at approx. fibonacci 50%retracement and then goes back bearish.
yes , but i'm not brave enough to trust and enter a trade base on MY technical aknowleg in this kind of unfamiliar market.when the rate was 4.25 eu was 1.45,now the rate is 3.5 eu is 1.45 again!!!
i doesnt mean technical doest work in this situation ,it works always but this is a special situation and special situations need spacial analyses and when i cant do special analayses in technical , prefer to stay out and as philip says miss a good trade but not be in a bad one
  • #10,660
  • Jan 23, 2008 10:14am Jan 23, 2008 10:14am
Yep. If you aren't sure or maybe you don't like the current chart you see, the best thing to do is bail out of any trade. That's why I didn't take my short trade on E/U for a long time even though it went down along my favour, and I'm not regrettin' anything.
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