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4 Hour Strategy (MACD)

  • #11,601
  • Feb 12, 2008 3:39pm Feb 12, 2008 3:39pm
If EURUSD can find support on the 21, is anybody else looking at this as a long term buy? It seems to be only confirming what I saw Sunday evening when I entered (MST), however, I knew I was jumping in early (banked 50 pips, but other lots effected while I was sleeping). It was only a few lots and I was merely looking to squeeze every pip out of it I could. Now it looks to building confirmation and the Long should be far less risky. I don't know... I'm thinking long term here whereas I should just be riding each wave as they come. But resistance is up in the 1.4900 area per our TL. The new channel looks to be forming higher lows and higher highs. What do you guys think?
  • #11,602
  • Feb 12, 2008 3:55pm Feb 12, 2008 3:55pm
Quoting wazzuvius
If EURUSD can find support on the 21, is anybody else looking at this as a long term buy? It seems to be only confirming what I saw Sunday evening when I entered (MST), however, I knew I was jumping in early (banked 50 pips, but other lots effected while I was sleeping). It was only a few lots and I was merely looking to squeeze every pip out of it I could. Now it looks to building confirmation and the Long should be far less risky. I don't know... I'm thinking long term here whereas I should just be riding each wave as they come. But resistance is up in the 1.4900 area per our TL. The new channel looks to be forming higher lows and higher highs. What do you guys think?
I think both the EUR & Cable may be setting up for a long TC to the 89 on the 4H.

I like the EUR especially because the daily is in corrective price motion and near the bottom of the range boundary.

Watching both EUR & Cable closely ................ we proably won't get much action till closer to London open.
  • #11,603
  • Feb 12, 2008 5:50pm Feb 12, 2008 5:50pm
Hey everyone?! Been reading the thread. Wondering if you guys use the same S/R moving averages on the other pairs as explained in the .PDF for EUR/USD? Thanks.

Adam
"Your big opportunity may be right where you are now." Napoleon Hill
  • #11,604
  • Feb 12, 2008 7:02pm Feb 12, 2008 7:02pm
Quoting maxster
I think both the EUR & Cable may be setting up for a long TC to the 89 on the 4H.

I like the EUR especially because the daily is in corrective price motion and near the bottom of the range boundary.

Watching both EUR & Cable closely ................ we proably won't get much action till closer to London open.
The Euro bounced off the bottom TL of an ascending triangle. Could test the 1.4900 level yet again.

Hef, we use the same MAs on all the pairs. At least I do.
Attached Image (click to enlarge)
Click to Enlarge Name: eur today daily.gif Size: 39 KB
  • #11,605
  • Feb 12, 2008 7:13pm Feb 12, 2008 7:13pm
I have been following this tread for a long time and although i dont contribute to it yet, i would just like to let Phillip, Palmer,Ryanmcd, pips4u and others know how much I appreciate all the time, effort and expertise you all put in to help each other and the silent watches like myself. I am consistantly ahead each month by around 200 pips and its all thanks to your very generous contributions. I hope to be able to trade as well as you some day, and im sure i will if i can just be more patient. dont give up on us guys, some of us are just slow learners, but we are learning. thanks to all..
  • #11,606
  • Feb 12, 2008 7:16pm Feb 12, 2008 7:16pm
Quoting Hookem28
The Euro bounced off the bottom TL of an ascending triangle. Could test the 1.4900 level yet again.

Hef, we use the same MAs on all the pairs. At least I do.
Yep. I think we keep duplicating each other, haha. That must be a good sign though

Actually, since this is what I've been watching, I went for a quick scalp as the price was heading down to test the 21. I banked some pips and now waiting for confirmation of the 21.
  • #11,607
  • Feb 12, 2008 8:18pm Feb 12, 2008 8:18pm
Looks like we may have longs on Eur, GBP, and JPY coming up TC setups.
Keep taking CT trades, I need more money
  • #11,608
  • Feb 12, 2008 8:32pm Feb 12, 2008 8:32pm
Chart
Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 203 KB
Keep taking CT trades, I need more money
  • #11,609
  • Feb 12, 2008 8:51pm Feb 12, 2008 8:51pm
Yup, Looks good to me. Will you wait for a 365ma break?

Quoting Ryanmcd
Chart
  • #11,610
  • Feb 12, 2008 9:10pm Feb 12, 2008 9:10pm
Quoting smnitro1
Yup, Looks good to me. Will you wait for a 365ma break?

No, for me the 8 and 21 MA rule the show. the others are just points of intrest.
Keep taking CT trades, I need more money
  • #11,611
  • Feb 12, 2008 10:04pm Feb 12, 2008 10:04pm
Hi, I'm Steve and I'm very much a 'newbie'.

No 'live' account yet. That i intend to start in July.
By which time i hope to be gaining consistently on my 'demo' account.
May i just add, you all do charming work for this site, considering it's on your own time. I have read a number of threads and like the lively debate that goes on here (though i am not worthy of participation just yet).
I have been self-educating, with the assistence of a friend (involved in live trade already) and i'm nearly ready to give it a whirl.
I do work and intend to do this part-time for the next few years (if you are only interested in assisting those of a full-time persuasion, stop reading now).

When I go live, I propose to trade for eighteen months, broken into three blocks, each of a twenty week period. The first block will be traded at a very low volume (not one for jumping in the deep end). The second will increase by 500% and the third will be twice the second.
During the twenty week periods I will hope to average the weekly gain of +100pips with four to twelve trades/week.

Currencies: GBPUSD GBPJPY USDJPY USDCAD
Charts: Candle
Time Frames:1 hour and 1 day (5 min for fun)
Trends: Fib 8 and 21

I have been dabbling for near a year now and feel it is time to make the big leap from 'demo' to 'live' (time will tell if i was right).
I have read a few of these threads and am amused (rookie as i blatantly am), to continuously find newbies with the next great idea ($1 to $1000000 in a day). I have moderate expectations. I enjoy being on the platforms and would like to boost my income (as I'm in a job that i enjoy, but doesn't pay as well as i'd wish,).

Would very much appreciate any wise words from the more senior members, or empathy and advice from fellow beginners.
Thanking you in advance for your time, Steve
  • #11,612
  • Feb 12, 2008 10:09pm Feb 12, 2008 10:09pm
"IF A MAN WILL BEGIN IN CERTAINTIES, HE SHALL END IN DOUBTS; BUT IF HE WILL BE CONTENT TO BEGIN WITH DOUBTS, HE SHALL END IN CERTAINTIES"

Francis Bacon
  • #11,613
  • Feb 12, 2008 11:04pm Feb 12, 2008 11:04pm
Welcome aboard. Sounds like your in the right place with your patience in learning and realistic expectations. You're already miles ahead of most traders with a written plan. While this system will work with 1hr and 1day time frames, most of us trade the 4H. To that end we "try" to limit the postings/trades to that time frame...

Good luck..
Eric


Quoting bistrosteve
Hi, I'm Steve and I'm very much a 'newbie'.

No 'live' account yet. That i intend to start in July.
By which time i hope to be gaining consistently on my 'demo' account.
May i just add, you all do charming work for this site, considering it's on your own time. I have read a number of threads and like the lively debate that goes on here (though i am not worthy of participation just yet).
I have been self-educating, with the assistence of a friend (involved in live trade already) and i'm nearly ready to give it a whirl.
I do work and intend to do this part-time for the next few years (if you are only interested in assisting those of a full-time persuasion, stop reading now).

When I go live, I propose to trade for eighteen months, broken into three blocks, each of a twenty week period. The first block will be traded at a very low volume (not one for jumping in the deep end). The second will increase by 500% and the third will be twice the second.
During the twenty week periods I will hope to average the weekly gain of +100pips with four to twelve trades/week.

Currencies: GBPUSD GBPJPY USDJPY USDCAD
Charts: Candle
Time Frames:1 hour and 1 day (5 min for fun)
Trends: Fib 8 and 21

I have been dabbling for near a year now and feel it is time to make the big leap from 'demo' to 'live' (time will tell if i was right).
I have read a few of these threads and am amused (rookie as i blatantly am), to continuously find newbies with the next great idea ($1 to $1000000 in a day). I have moderate expectations. I enjoy being on the platforms and would like to boost my income (as I'm in a job that i enjoy, but doesn't pay as well as i'd wish,).

Would very much appreciate any wise words from the more senior members, or empathy and advice from fellow beginners.
Thanking you in advance for your time, Steve
  • #11,614
  • Feb 13, 2008 12:06am Feb 13, 2008 12:06am
Looks like a very strong resistance on the 21, and 2 read bars on MACD, which could indicate a TC. Since I am not sure, I will use a tight stop and I will see from there.

Short 0.9997
SL 1.0015
1st TP 35 pips
  • #11,615
  • Feb 13, 2008 1:09am Feb 13, 2008 1:09am
there was possible ct trade of the 89 and the TL.i saw that but didnt take .i always afraid of volatile pairs like uj,gj and even gu
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 36 KB
  • #11,616
  • Feb 13, 2008 1:18am Feb 13, 2008 1:18am
Possible TC signal on USDCAD in 40 min. There is a Fib line in the way, and the tails on the 1 hour are a bit bullish though.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 23 KB
  • #11,617
  • Feb 13, 2008 1:35am Feb 13, 2008 1:35am
Hi,
still a newbie, but I am trying to learn more from your comments.
UJ shows a strong resistance around 107.80 and is currently going down.
If it breaks 89 and mini trend line, I will go short for about 30 pips, but if it finds resistance on 89, could that be s start of TC

tell me guys, what you think.
Please correct me if I am wrong
Attached Image (click to enlarge)
Click to Enlarge Name: uj.jpg Size: 177 KB
  • #11,618
  • Feb 13, 2008 1:58am Feb 13, 2008 1:58am
Quoting yofatmamma
Possible TC signal on USDCAD in 40 min. There is a Fib line in the way, and the tails on the 1 hour are a bit bullish though.
UC doesn't seem to be making it's mind up at the moment!
  • #11,619
  • Feb 13, 2008 2:22am Feb 13, 2008 2:22am
Quoting bistrosteve
...

Currencies: GBPUSD GBPJPY USDJPY USDCAD
Charts: Candle
Time Frames:1 hour and 1 day (5 min for fun)
Trends: Fib 8 and 21

...
Welcome Steve. Nice to hear something about British philosophers, hopefully you know enough about GBP as you know about Bacon. it seems you are not following up the 4H MACD system. Anyway, welcome...

A.
  • #11,620
  • Feb 13, 2008 3:05am Feb 13, 2008 3:05am
Quoting Borism
Looks like a very strong resistance on the 21, and 2 read bars on MACD, which could indicate a TC. Since I am not sure, I will use a tight stop and I will see from there.

Short 0.9997
SL 1.0015
1st TP 35 pips
SL hit........http://www.forexfactory.com/images/icons/icon9.gif


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