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4 Hour Strategy (MACD)

  • #10,841
  • Jan 28, 2008 3:57pm Jan 28, 2008 3:57pm
Quoting Pipsi cola
Today it's been 1 year since Philip started this thread.
Wow, 1 year already. Doesn't time fly hey?
  • #10,842
  • Jan 28, 2008 4:30pm Jan 28, 2008 4:30pm
Looks like it could make it to the 89 (maybe). Lower high on price and MACD getting weak. What are your thoughts. I don't like that looming 89 for a long...

Quoting Ryanmcd
Check out EURCHF
  • #10,843
  • Jan 28, 2008 4:38pm Jan 28, 2008 4:38pm
Long EURCHF @ 1.6111 stop @ 1.6070
Keep taking CT trades, I need more money
  • #10,844
  • Jan 28, 2008 4:44pm Jan 28, 2008 4:44pm
Quoting EricthePip
Looks like it could make it to the 89 (maybe). Lower high on price and MACD getting weak. What are your thoughts. I don't like that looming 89 for a long...

I got long on it. Here is what I have been seeing. I spent about 4-5 hours this weekend looking at charts. The 89 is big but the 8/21 are the MAIN thing I look at now. Do this, go back and look over charts where price is trending and it shows support on the 21MA and keeps going, these trades almost ALWAYS work out. Here I will attach a file to see. Go back and check these out for good TC patterns, If you look here at this long the 21MA showed support so I had to take the trade, 89MA is next resistance and if that goes through then it's coming back to the 21MA.
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.jpg Size: 206 KB
Keep taking CT trades, I need more money
  • #10,845
  • Jan 28, 2008 4:55pm Jan 28, 2008 4:55pm
Chart info.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd movement.jpg Size: 273 KB
Keep taking CT trades, I need more money
  • #10,846
  • Jan 28, 2008 5:16pm Jan 28, 2008 5:16pm
Hello Ryanmcd and all, also long EUR/CHF long for the same reason as we had a nice TC from the 21 EMA and the trend is moving nicely above the 8EMA. Will look closely price around the 89 SMA to see what it will do.

Another reason, is the great pin bar on the weekly.

Entry: 1.6118
Stop: 1.6168 (under 21 EMA)

Great post Ryanmcd on EUR/CHF and EUR/USD

Please see attached chart of the weekly EUR/CHF.

Reason i put the weekly pin bar in to show how the current over all emotion of the market based on the weekly chart is favoring an up move.

See what will happen.

Small size on this one

Sincerely

Shreem
Attached Image (click to enlarge)
Click to Enlarge Name: eur-chf weekly.gif Size: 14 KB
  • #10,847
  • Jan 28, 2008 5:29pm Jan 28, 2008 5:29pm
Gotcha...Nice TC on the chart... Hope it takes out the high on the way to the 89. Great TC set up, broke above the 21 came back to the 21 with some candle emotion on the MA....(hammer and doji)

Quoting Ryanmcd
Long EURCHF @ 1.6111 stop @ 1.6070
  • #10,848
  • Jan 28, 2008 5:54pm Jan 28, 2008 5:54pm
Quoting EricthePip
Gotcha...Nice TC on the chart... Hope it takes out the high on the way to the 89. Great TC set up, broke above the 21 came back to the 21 with some candle emotion on the MA....(hammer and doji)

Let's hope, this maybe a all nighter lol
Keep taking CT trades, I need more money
  • #10,849
  • Jan 28, 2008 6:18pm Jan 28, 2008 6:18pm
Quoting Ryanmcd
Chart info.
Thanks Ryan, very useful... Watching a possible TC on the GBP/USD off the 8ema.. (and looks like the 200 may hold)...
  • #10,850
  • Jan 28, 2008 6:26pm Jan 28, 2008 6:26pm
Quoting EricthePip
Thanks Ryan, very useful... Watching a possible TC on the GBP/USD off the 8ema.. (and looks like the 200 may hold)...

Lots of good trades setting up
Keep taking CT trades, I need more money
  • #10,851
  • Jan 28, 2008 6:51pm Jan 28, 2008 6:51pm
I'm looking at the AUD/USD. Could someone offer your input on the wisdom of taking a short position if the signal changes?

I'm looking at how the MACD is shaping up and that tHe price is currently far above the 89, the 8, and 21. Are those not ripe conditions for entering a short position? It looks like a great setup, but I'm looking for suggestions as to what I'm not considering...or further confirmation that this is starting to look good.

I see a +2 strong bull rythm.. but I'm not sure how that would affect my decision to go short. I have much to learn.

Comments and criticism appreciated.

http://i6.photobucket.com/albums/y23...1Jan281849.gif
We are our own greatest enemy.
  • #10,852
  • Jan 28, 2008 7:47pm Jan 28, 2008 7:47pm
possible to get some pips on the countertrend move, but I believe the best trades are Trend continuation patterns... Short could go back down to the 8 or maybe a bounce off to retest the 89. I would prefer to see that and then go long for a higher probability trade with the trend... after the TC is set up on the MACD....

Just my two cents..

Quoting Gabe
I'm looking at the AUD/USD. Could someone offer your input on the wisdom of taking a short position if the signal changes?

I'm looking at how the MACD is shaping up and that tHe price is currently far above the 89, the 8, and 21. Are those not ripe conditions for entering a short position? It looks like a great setup, but I'm looking for suggestions as to what I'm not considering...or further confirmation that this is starting to look good.

I see a +2 strong bull rythm.. but I'm not sure how that would affect my decision to go short. I have much to learn.

Comments and criticism appreciated.

http://i6.photobucket.com/albums/y23...1Jan281849.gif
  • #10,853
  • Jan 28, 2008 8:39pm Jan 28, 2008 8:39pm
Curious if you just use the BB defaults 20 period and 2 deviations...

Quoting Ryanmcd
Chart info.
  • #10,854
  • Jan 28, 2008 8:41pm Jan 28, 2008 8:41pm
Quoting EricthePip
Curious if you just use the BB defaults 20 period and 2 deviations...

18/2
Keep taking CT trades, I need more money
  • #10,855
  • Jan 28, 2008 10:11pm Jan 28, 2008 10:11pm
Time to short UsdJpy? Nice looking.......pipip...Jimdandy
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 23 KB
  • #10,856
  • Edited 11:06pm Jan 28, 2008 10:35pm | Edited 11:06pm
Quoting Gabe
I'm looking at the AUD/USD. Could someone offer your input on the wisdom of taking a short position if the signal changes?

I'm looking at how the MACD is shaping up and that tHe price is currently far above the 89, the 8, and 21. Are those not ripe conditions for entering a short position? It looks like a great setup, but I'm looking for suggestions as to what I'm not considering...or further confirmation that this is starting to look good.

I see a +2 strong bull rythm.. but I'm not sure how that would affect my decision to go short. I have much to learn.

Comments and criticism appreciated.
Your chart is looking good while it broke all the MAs and that shows a consolidation in the market. If you take a look on the previous support formed on purple MA means a possible price pullback to the MA because on your MACD it is giving a lower high. The doji formed at the top are showing a CT possibility. Sorry for the late reply, got some interruption while typing.
  • #10,857
  • Jan 28, 2008 10:46pm Jan 28, 2008 10:46pm
Quoting JimDandy
Time to short UsdJpy? Nice looking.......pipip...Jimdandy
My last trade was out with 3pips ('cause I left it out to sleep) by the TS of 40pips. I'm staying out of UJ for awhile because the price is too close to my TL.
Currently I'm short both EU and GU for a couple of pips.
  • #10,858
  • Jan 28, 2008 11:03pm Jan 28, 2008 11:03pm
IT IS THE FIRST ANNIVERSARY FOR THE THREAD! CONGRATULATIONS TO PHILLIP and other members who has brought the thread into a family environment where we help each other to be a much better trader. And to me, Phillip is a very helpful person within the thread and thanks alot for sharing this MARVELOUS SYSTEM!
  • #10,859
  • Jan 29, 2008 12:55am Jan 29, 2008 12:55am
what u guys think about short eurusd? H&S pattern in macd and divergence i can see there
  • #10,860
  • Jan 29, 2008 1:18am Jan 29, 2008 1:18am
I took E/U short, reasons: ITL daily, divergence, TL, H&S on MACD, tails up indicating selling pressure. Entry 1.4772, second lot pending order at 1.4782 (was triggered already). SL 1.4805 TP1 1.4747 8MA, second TP 21 MA.

Was looking to short U/J too, but I don't like that price makes HL and it didn't close under support, so I stay out.
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