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4 Hour Strategy (MACD)

  • #11,201
  • Feb 5, 2008 1:17am Feb 5, 2008 1:17am
Quoting Pipsi cola
short e/u @ 4814. stop above the triangle. small candles, macd turned down. anticipating a move towards the 89sma.
Shorted E/U too at 1.4812. One stop 1.4842, second 1.4857, one TP +30, second on 89 MA. Not high probability trade, but with the rules and I like that price made double top on daily and all these tails up, evening star and small divergence. 89 is pointing down on 4 hour.

I also bought U/J, I know it's still in consolidation, but I like the way price found support on 89 with small candles, there is also huge divergence on daily. On 4 hour price made two attempts to break 89, finally it did, retraced and now moves away. Enter 106.88/106.89, SL 106.53 106.54, TP1 107.15, second on trailing stop.

In both cases I'll go b/e when my first TP is hit.
Attached Image
  • #11,202
  • Feb 5, 2008 2:01am Feb 5, 2008 2:01am
Quoting EricthePip
Watch out for the news, AUD interest rates at 10:30 EST tonite... could be a TC as well. Expectation is for a 1/4 rise. Aussie dollar has been running against yen and euro as well.
Man, did you see that whipsaw - utterly utterly disgusting!
  • #11,203
  • Feb 5, 2008 2:03am Feb 5, 2008 2:03am
short euro @ 1.4806, S/L @ 1.4825(above high of previous 1h candle). 1h just closed showing a TC downward and price has fallen below the triangle pattern. off to bed for now.
"The market pays you to be disciplined"
  • #11,204
  • Edited 3:03am Feb 5, 2008 2:08am | Edited 3:03am
eu: short 4800 , u can see the sl at 4825, i'll be go BE after breaking 85 and let it run to 89ma
edit : closed +40
Attached Image (click to enlarge)
Click to Enlarge Name: yen.gif Size: 28 KB
  • #11,205
  • Feb 5, 2008 2:44am Feb 5, 2008 2:44am
Quoting ira
Shorted E/U too at 1.4812. One stop 1.4842, second 1.4857, one TP +30, second on 89 MA. Not high probability trade, but with the rules and I like that price made double top on daily and all these tails up, evening star and small divergence. 89 is pointing down on 4 hour.

I also bought U/J, I know it's still in consolidation, but I like the way price found support on 89 with small candles, there is also huge divergence on daily. On 4 hour price made two attempts to break 89, finally it did, retraced and now moves away. Enter 106.88/106.89, SL 106.53 106.54, TP1 107.15, second on trailing stop.

In both cases I'll go b/e when my first TP is hit.

Very good work Ira!
Unfortunately, I was not sure and have left both Trades out.
  • #11,206
  • Feb 5, 2008 3:31am Feb 5, 2008 3:31am
I have netered this EurUsd trade as well as a GbpUsd trade last night. I will post the GbpUsd trade later this afternoon with Mp3.
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd.GIF Size: 44 KB
  • #11,207
  • Feb 5, 2008 4:38am Feb 5, 2008 4:38am
shorted G/U 1.9689 SL 1.9724 TP 1.9645, was not sure so only one lot. Reasons: with the trend, 89 resistance now, from 38.2 Fib, good signal on MACD.
Attached Image
  • #11,208
  • Feb 5, 2008 5:10am Feb 5, 2008 5:10am
Quoting Porsche917
Very good work Ira!
Unfortunately, I was not sure and have left both Trades out.
Thank you Porsche917, don't worry it will come with experience. For more than 7 months I was posting here mostly only losses. Just stick to the rules and to the thread. Good luck!
  • #11,209
  • Edited 5:28am Feb 5, 2008 5:24am | Edited 5:28am
Wow. what a move, i had shorted euro earlier today, and had gone back to sleep. just woke up to see price had hit target. 89 MA. +100 pips.
Enter 1.4811 and 1.4805
SL 1.4841
TP 1.4711 and 1.4769
( 89 was at 1.4705).
Reasons for taking the trade were according to the rules.
Price had broken 21 and came below it. then went back to it , and a little above it. and then came below and close below it accompanied with a TC . so next target was anticipated to be 89 MA. Congratz to all those who took it,.
And if some one missed it, it is OK... there will be more . I used to sit there and watch the moves happen. just not sure if it will go according to the rules. With experience , like IRA said it will come. If you Believe that you will GET IT you Will Get IT. The rules seem simple enough BUT it takes time for the mind to accept them and follow them , Take the trade when your mind is ready and accepts to , Not when everyone else is taking it.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #11,210
  • Feb 5, 2008 5:29am Feb 5, 2008 5:29am
Hello Ira,

I've been so pleased to see how well you are getting on now, I'm really excited for you! I know you struggled at the beginning and you thoroughly deserve your success, long may it continue!

I'd anticipated the E/U move but got in a bit too early yesterday so was stopped out. Hoped to catch it this morning but got up too late!!! Best thing about it though, I had absolutely no emotions going on, no internal conflict, I even went to the supermarket whilst the trade was open! For the first time ever, I didn't mind that I was stopped out. It was always a possibility and it happened. So what! My anticipation about the move was right, it was my timing that was poor!!

Also been anticipating bull move on the U/J, waiting for retrace and will enter long if the set up remains positive. Will wait & see.

Well done to you though, superb results this year so far!

Rebecca,x.
May all your pips grow into great big fruitful trees
  • #11,211
  • Feb 5, 2008 5:36am Feb 5, 2008 5:36am
I am still waiting for confirmation on my platform for a GU short, as you can see that the Candle that accompanied the TC had close above the 89. My current candle is below the 89 and closes in 25 minutes. Will see where it stands at close,
Attached Image (click to enlarge)
Click to Enlarge Name: gu not yet.jpg Size: 211 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #11,212
  • Edited 10:59am Feb 5, 2008 5:48am | Edited 10:59am
Quoting ira
shorted G/U 1.9689 SL 1.9724 TP 1.9645, was not sure so only one lot. Reasons: with the trend, 89 resistance now, from 38.2 Fib, good signal on MACD.
Hello Ira,

I have opened a trade very simmilar to yours after 11:00 gmt+1 candle close.
to me it appears to be within the rules to short on g/u.

short 1,9681, sl 1,9721, tp 1,9641 r:r = 1:1 on a TC.

1. price has crossed 200, has come back to it and may now continue on.
2. price has come down to 89 and even crossed it, has then found
ressistance on 21 and will continue on.
3. price has closed below 89 (11:00 candle). it may test it again before
moving on.
(please correct me if I'm wrong)

The only thing that could cause problems are those huge shadows.

currently the trade is around -17 pips ... so let's see.

after the great pipping on eur/usd (+135 pips) I can live with a potential
loss of -40.

edit: I have taken partial tp : +40 ,
set sl: 1,9692 ( -10 )
next tp: 1,9600 ( +81)

it the plan wasn't to take partial profit, but watching the momentum of the price I decided to
give it a try to reach 1,9600

Regards
  • #11,213
  • Feb 5, 2008 6:02am Feb 5, 2008 6:02am
Quoting ashes
Hello Ira,

I have opened a trade very simmilar to yours after 11:00 gmt+1 candle close.
to me it appears to be within the rules to short on g/u.

short 1,9681, sl 1,9721, tp 1,9641 r:r = 1:1 on a TC.

1. price has crossed 200, has come back to it and may now continue on.
2. price has come down to 89 and even crossed it, has then found
ressistance on 21 and will continue on.
3. price has closed below 89 (11:00 candle). it may test it again before
moving on.
(please correct me if I'm wrong)

The only thing that could cause problems are those huge shadows.

currently the trade is around -17 pips ... so let's see.

after the great pipping on eur/usd (+135 pips) I can live with a potential
loss of -40.

Regards
Hi I was thinking the same thing.
went short at 9689 waiting to go lower.
I decided to go short because the 200 and 21 almost together , quite a strong resistance ...
Hoping for a nice TC..
  • #11,214
  • Feb 5, 2008 6:56am Feb 5, 2008 6:56am
Short on Gu as well, at close of 0800 candle enter at 1.9690.
market rhythm, price broke thru 89, pull back to 21 and then move away, also resistance at 200 sma and then price closing below 89,
SL at 1.9730
TP 1 : 1.9645
Tp 2 : 1.9625 .
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #11,215
  • Feb 5, 2008 7:14am Feb 5, 2008 7:14am
Ahh missed them. Had to sleep.
Keep taking CT trades, I need more money
  • #11,216
  • Feb 5, 2008 7:14am Feb 5, 2008 7:14am
Hey people...save some of these pips for me would ya! I'm in the process of changing brokers. I've got it narrowed down to ODL Securities and Rosenthal Collins. Be 'back' soon....

Pip on!
  • #11,217
  • Feb 5, 2008 7:19am Feb 5, 2008 7:19am
What time zone ya in?? I caught the Euro, GBP is flat and missed the u/J...... set the alerts in MT4 (EST here, seems a lot of action happens in the middle of the night)

Quoting Ryanmcd
Ahh missed them. Had to sleep.
  • #11,218
  • Feb 5, 2008 7:22am Feb 5, 2008 7:22am
so i know myself and a few others are up 120+ pips at the moment.... let's talk about when we should exit this trade. I have taken profits on half my position.

Price has currently found support at the 200. I want to ride this as long as possible. Maybe even add to the position.

What are your thoughts guys?

Attached Image (click to enlarge)
Click to Enlarge Name: eur 2-5.jpg Size: 70 KB
"The market pays you to be disciplined"
  • #11,219
  • Feb 5, 2008 7:23am Feb 5, 2008 7:23am
Quoting Ryanmcd
Ahh missed them. Had to sleep.

Maybe you should move here with us in Europe
great time for today trades


http://www.forexfactory.com/images/icons/icon10.gif
  • #11,220
  • Feb 5, 2008 7:30am Feb 5, 2008 7:30am
Quoting EricthePip
What time zone ya in?? I caught the Euro, GBP is flat and missed the u/J...... set the alerts in MT4 (EST here, seems a lot of action happens in the middle of the night)

Not sure how to use alerts. I use mig, same thing as phillip.
Keep taking CT trades, I need more money
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