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4 Hour Strategy (MACD)

  • #11,541
  • Feb 11, 2008 9:27am Feb 11, 2008 9:27am
a sell signal in gu ? large stoploss?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 30 KB
  • #11,542
  • Feb 11, 2008 9:28am Feb 11, 2008 9:28am
Quoting deforexit
I shorted E/U at 14505 with SL at 14555 and 1° TP at 14470.
Reason: ZB on MACD
I have gone for a similar trade almost to the pip short E/U at 14500 with tp at 14455, I have a smaller SL of 30 pips. Good luck
  • #11,543
  • Feb 11, 2008 9:46am Feb 11, 2008 9:46am
Quoting maxster
Jenny,

I added the code but haven't test it.
Thank you so much.
  • #11,544
  • Feb 11, 2008 9:46am Feb 11, 2008 9:46am
Quoting bshadroo
a sell signal in gu ? large stoploss?
Hi bshadroo,

My chart (gmt) looks a little different. Despite strong bear rhythm (-2, check out Palmer's website for definitions) and bounce down from 21, and TC on MACD (which is there now but not when pic saved!), I don't like the succession of spinners. The 0800 - 1200 candle has put me off entering short. If I miss an opportunity, I'll wait!
Attached Image
May all your pips grow into great big fruitful trees
  • #11,545
  • Feb 11, 2008 9:49am Feb 11, 2008 9:49am
Personally, I'm passing on this one. Don't like the 8:00 candle (huge tail in both directions, aka indecision). My bar closes in 12 minutes and looks to be a non-signal

Quoting bshadroo
a sell signal in gu ? large stoploss?
Attached Image
  • #11,546
  • Feb 11, 2008 9:53am Feb 11, 2008 9:53am
Quoting FX Return
I have gone for a similar trade almost to the pip short E/U at 14500 with tp at 14455, I have a smaller SL of 30 pips. Good luck
There is STRONG TL support around 1.4500. Be very cautious.
Attached Image (click to enlarge)
Click to Enlarge Name: today.gif Size: 27 KB
  • #11,547
  • Feb 11, 2008 9:56am Feb 11, 2008 9:56am
Quoting Hookem28
There is STRONG TL support around 1.4500. Be very cautious.
I'm staying away.. too risky now, don't have the guts..
  • #11,548
  • Feb 11, 2008 9:59am Feb 11, 2008 9:59am
Quoting Bag Lady
Hi bshadroo,

My chart (gmt) looks a little different. Despite strong bear rhythm (-2, check out Palmer's website for definitions) and bounce down from 21, and TC on MACD (which is there now but not when pic saved!), I don't like the succession of spinners. The 0800 - 1200 candle has put me off entering short. If I miss an opportunity, I'll wait!
yes.i'v checked gmt chart befor ur post and findout its completely different.maybe should wait .and actually i dont like this pair .there are alot of tails and more volatile
  • #11,549
  • Feb 11, 2008 10:06am Feb 11, 2008 10:06am
Quoting hijackxx
I'm staying away.. too risky now, don't have the guts..
Guts don't get you anywhere in Forex. Believe me, I know.
  • #11,550
  • Feb 11, 2008 10:14am Feb 11, 2008 10:14am
Quoting Hookem28
Guts don't get you anywhere in Forex. Believe me, I know.
I don't know.. but.. today i'm being too depressed.. I made profits (which was rather small pips) but.. *sigh*. nvm.
Happy trading
  • #11,551
  • Edited 10:47am Feb 11, 2008 10:27am | Edited 10:47am
Quoting Hookem28
There is STRONG TL support around 1.4500. Be very cautious.
Thanks for the warning, it is struggling so I am listening closely to your warning, you stated TL support, is it the longterm trendline at bottom of the channel, by my charts that would be around 14460 not at 14500, I guess because the TL is a long term one the accuracy of the line on my chart is quite low and should be considered as a zone rather than an absolute value, I'll take your advice move my stop right down or close. It's easy read TLs as being accurate I guees you need to look at the history of the TL, older ones are going to be a little less accurate than the shorter timeframe ones.

(EDIT)
Thanks for your help, lesson learnt, cost -10 pips, could have been -30.
  • #11,552
  • Feb 11, 2008 10:42am Feb 11, 2008 10:42am
Info
Attached File(s)
File Type: zip Daily Wrapup 11 Feb2008.zip   791 KB | 1,034 downloads
  • #11,553
  • Feb 11, 2008 10:50am Feb 11, 2008 10:50am
Sure.
Check out the daily and 4H charts attached below. My TL starts at the beginning of the uptrend that began in August. Noticed how its bounced off of the TL the last three days.
I also drew a Fib off of the down move from late Nov.-late Dec. It's been bouncing off of those Fib lines ever since. Note on the 4H chart it's found support on the .236.
Hope this helps.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: today daily.gif Size: 27 KB
Click to Enlarge Name: today 4h.gif Size: 26 KB
  • #11,554
  • Feb 11, 2008 11:16am Feb 11, 2008 11:16am
Quoting EricthePip
...Looking for TC's is relatively easy if you study the market motion/rhythym. I then look at the indicator (note that there is a little number beside the bar on the MACD to the right). This is the number of pips to turn the indicator in the direction of the potential TC (assuming we are in a pull back). I will then (at 11PM) set an alarm if it's something that I wouldn't mind being awaken in the middle of the night for. The alarm is simply the current price +/- the "little number". I personally like the bars at 11PM/3AM/7AM etc, since the 3AM coincides with the European opening, which tends to have some action, and thus the TC maybe forming at or around that time. 2AM EST is typically dead, or "market noise" between the Asia and European closing/opening...
Eric,
Quick question, The "little number to the right" you are referring to. Is this the 0.0060 to -0.0060 (for example) range in the vertical scale or do you have a custom setting for your chart. Please expound if you can.
Thanks
Rick
  • #11,555
  • Edited 12:07pm Feb 11, 2008 11:54am | Edited 12:07pm
i'm using v104 of the indicator which has the small number off to the right. please look at some charts i've posted recently. it's nothing i created, the +- .006 is just the unit scale for the macd

for example in post11548 there is a "1"

1 pip and the macd turns

Quoting Foricks
Eric,
Quick question, The "little number to the right" you are referring to. Is this the 0.0060 to -0.0060 (for example) range in the vertical scale or do you have a custom setting for your chart. Please expound if you can.
Thanks
Rick
  • #11,556
  • Feb 11, 2008 11:59am Feb 11, 2008 11:59am
Quoting Hookem28
Sure.
Check out the daily and 4H charts attached below. My TL starts at the beginning of the uptrend that began in August. Noticed how its bounced off of the TL the last three days.
I also drew a Fib off of the down move from late Nov.-late Dec. It's been bouncing off of those Fib lines ever since. Note on the 4H chart it's found support on the .236.
Hope this helps.
This is exactly what I was seeing yesterday when I entered long. However, I was trying to convince myself to wait for confirmation, but I decided to take the early risk. I still gained 50 pips, but stopped out at BE on the other lots. To me though, it still looks like overall momentum is taking this price up. It looks like it was just retracing from 1.4900 resistance and again finding support at TL 1.4500. Even with my early positions yesterday, I planned on taking more serious action with confirmation of 21EMA. If it breaks, we could likely see a long term play to 1.4900, of course taking our pips along the way
  • #11,557
  • Feb 11, 2008 12:05pm Feb 11, 2008 12:05pm
Foricks,

http://i31.photobucket.com/albums/c3...toreversal.jpg
  • #11,558
  • Feb 11, 2008 12:18pm Feb 11, 2008 12:18pm
Thanks Waz and Eric
  • #11,559
  • Feb 11, 2008 1:16pm Feb 11, 2008 1:16pm
Quoting bshadroo
i have the same your black TL but mine looks different.if u draw it with h1 bars its looks different and more reliable
look how it acts on my dow TL dear hijackxx(your black TL)
i hope u see this post because ur mistake was my mistake before and then i learn to correct my TLs base on different TFs.actually firstly i draw this TL just like u but i corrected it after the second big drop.
Attached Image (click to enlarge)
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  • #11,560
  • Feb 11, 2008 1:30pm Feb 11, 2008 1:30pm
Hello guys,

Whats happened to the market ?? Its slower than a turtle !!
4X is the biggest casino in the world...Open 24h Monday to Friday.
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