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4 Hour Strategy (MACD)

  • #10,781
  • Jan 28, 2008 4:13am Jan 28, 2008 4:13am


Aggressive turnaround from 200sma resistance. Tail to the top indicating stophunting.


Stoploss is huge but the tail to the top tells me the damage was allready done so I will set my stoploss at ±80% of the body of the signal candle.




Entry 1.9768


Stoploss 1.9818


1st TP 1.9707


2nd TP 1.9630



I will take partial profit after 30 pips and set remainder at 25 trailing stop
Attached Image (click to enlarge)
Click to Enlarge Name: GbpUsd.GIF Size: 51 KB
  • #10,782
  • Jan 28, 2008 4:21am Jan 28, 2008 4:21am
Quoting ariefdff
Hi MtnMan,

Thanks for the explanation, phew lucky enough my TP got hit

Ok, so the key are EMA21 & SMA89, and MACD for sure. Ok, now price on EJ is up, already hit EMA21 and soon looks will exceed EMA8, if candle close and price still go upwards, it should form a nice setup for long entry isn't ? because it find support at either EMA21 or hopefully EMA8 and resistance at SMA89.

Please CMIIW
The 21 and 89 are very important next to Price Action and the MACD is there to give a confirmation of PA.
About going long on e/j IMO, does'nt look good enough to me to go long or short right now. If the candle does close above the 21 and MACD gives a green signal, the 89 is'nt that far away. So ask yourself, will the R:R be worth it?
You can always find a possible long or short entry with any pair, but as many here have said...."be patient" .Which is the most important concept in trading along with MM. And Phillip has taught us just that.

Hope this helps
  • #10,783
  • Jan 28, 2008 4:52am Jan 28, 2008 4:52am
I entered E/U long at 14710 ( a little bit early, before candle close)
Reasons:

- ZB on MACD

- 8 EMA and 89 SMA as supports

SL at 14670
1° Tp 14740
2° Tp 14760
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd.gif Size: 16 KB
  • #10,784
  • Jan 28, 2008 4:59am Jan 28, 2008 4:59am
How do you consider sunday 11PM candle?
It's a 1h candle!
  • #10,785
  • Jan 28, 2008 5:09am Jan 28, 2008 5:09am
just entered long eur/usd
Attached Image
  • #10,786
  • Jan 28, 2008 5:09am Jan 28, 2008 5:09am
Quoting deforexit
I entered E/U long at 14710 ( a little bit early, before candle close)
Reasons:

- ZB on MACD

- 8 EMA and 89 SMA as supports

SL at 14670
1° Tp 14740
2° Tp 14760
saw that long as well, I have taken it. The only thing we have aginst us is when us stocks dive the euro can go with it as they all buy the us$, flighty to safety! yeh I know nuts but that's the way it is now! see how it pans out.
  • #10,787
  • Jan 28, 2008 5:12am Jan 28, 2008 5:12am
Hello everyone, I decided to buy Euro on the reversal, MACD gave me signal of ZeroBreak which means a possible turnaround price movement upside.

Entry: 1.4713
SL : 1.4650 which is few pips under the previous low.
TP1 : At previous resistance formed
TP2 : Is at the Top, which is previous Higher high, TS set for the second trade.

Good luck to you all
  • #10,788
  • Jan 28, 2008 5:16am Jan 28, 2008 5:16am
Quoting >Apocalypto<
saw that long as well, I have taken it. The only thing we have aginst us is when us stocks dive the euro can go with it as they all buy the us$, flighty to safety! yeh I know nuts but that's the way it is now! see how it pans out.
Wow I see alot of people going with the system really well on the MACD signal. Good luck to all of us whom are trading the Euros
  • #10,789
  • Jan 28, 2008 5:27am Jan 28, 2008 5:27am
Quoting Pipsi cola
just entered long eur/usd
i'm in. i want to enter after a pull back near 89 ma(about 1.4690)
  • #10,790
  • Jan 28, 2008 6:17am Jan 28, 2008 6:17am


Found support on 21ema and closed above 89sma. Same setup as the resistance last week.




Entry 1.4717


Stoploss 1.4670


TP 1.4665


1st TP after 20pips and remainder set at 20 trailing stop



I will lift my stoploss pip for pip as the price go in my favour until 20pips gain is reached and then set my stoploss to 20pips trailing
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd.GIF Size: 44 KB
  • #10,791
  • Jan 28, 2008 7:02am Jan 28, 2008 7:02am
Long eurusd as well, also watching eurchf as a long if we get a green macd. usdcad may close @ 10:00 as a short as well.
Keep taking CT trades, I need more money
  • #10,792
  • Edited 9:09am Jan 28, 2008 7:08am | Edited 9:09am
wow this thing took off, Stop @ cost.
Keep taking CT trades, I need more money
  • #10,793
  • Jan 28, 2008 7:12am Jan 28, 2008 7:12am
Hello, i am in Long as well 0800 candle. 1.4725 . I wanted to enter 2nd lot at 23% fib at 1.4713 of signal candle because it is long , but price retrace till 1.4716, so i enter 2nd lot at 1.4726. i see a lot of us took it,. on diff time frame platforms. Looks good. --lets see how it develops./
Nadia.
Attached Image (click to enlarge)
Click to Enlarge Name: euro trade.jpg Size: 183 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,794
  • Jan 28, 2008 7:14am Jan 28, 2008 7:14am
yes i just move my Stop. loss to BE as well,
EDIT. 1st lot closed at 30 pips.
2nd lot at BE . and let run.
Fast move so will keep an eye.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,795
  • Jan 28, 2008 7:19am Jan 28, 2008 7:19am
arrrrrrrrrr!!! Pirate sound...

I live in the wrong time-zone..Nice trades on the "break through the 21, back down to it, and return to the original direction" on the EU and the EC is playing out that way also, may retrace for a re-entry???

Either way, sleep is overrated.
  • #10,796
  • Jan 28, 2008 7:28am Jan 28, 2008 7:28am
Quoting BIL2205
yes i just move my Stop. loss to BE as well,
EDIT. 1st lot closed at 30 pips.
2nd lot at BE . and let run.
Fast move so will keep an eye.
I got in at 1.47 after the London Open this morning. A little early, but I liked the BOZ I saw as well as a pennant price pattern screaming to buy.
TP at 1.4750...not to be too greedy on my first trade in two weeks.
Good to be back in the country and making pips.

Cheers,
Rick
  • #10,797
  • Jan 28, 2008 7:31am Jan 28, 2008 7:31am
Quoting Palmer
arrrrrrrrrr!!! Pirate sound...

I live in the wrong time-zone..Nice trades on the "break through the 21, back down to it, and return to the original direction" on the EU and the EC is playing out that way also, may retrace for a re-entry???

Either way, sleep is overrated.
I got in at 8:03 @ .4726 I think I was awake a total of 3min at the time
Keep taking CT trades, I need more money
  • #10,798
  • Jan 28, 2008 7:35am Jan 28, 2008 7:35am
Quoting Palmer
arrrrrrrrrr!!! Pirate sound...

I live in the wrong time-zone..Nice trades on the "break through the 21, back down to it, and return to the original direction" on the EU and the EC is playing out that way also, may retrace for a re-entry???

Either way, sleep is overrated.

MAYBE ，TOMORROW HAVE A NICE TRADE 。

TUS ，THUSDAY SHOULD BE MORE PIPS ，ANY DIRCTION！！
  • #10,799
  • Jan 28, 2008 7:40am Jan 28, 2008 7:40am
Quoting Cinema007
MAYBE ，TOMORROW HAVE A NICE TRADE 。

TUS ，THUSDAY SHOULD BE MORE PIPS ，ANY DIRCTION！！
Agreed: I think the big money may be waiting on the sidelines...
  • #10,800
  • Jan 28, 2008 8:09am Jan 28, 2008 8:09am
I missed it. I agree with Palmer. Sleep is over rated.
We are our own greatest enemy.
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