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4 Hour Strategy (MACD)

  • #11,941
  • Feb 19, 2008 7:17pm Feb 19, 2008 7:17pm
Quoting EricthePip
Short from 9484 here. about 20 pips profit, getting ready to get defensive...
lol, I put my stop @ cost. Lets see what happens. Have to get back in my groove after being sick
Keep taking CT trades, I need more money
  • #11,942
  • Feb 19, 2008 8:02pm Feb 19, 2008 8:02pm
yea, get some rest, I've been under the weather for a couple of days myself... My stop just above the last 4hr candle....

Quoting Ryanmcd
lol, I put my stop @ cost. Lets see what happens. Have to get back in my groove after being sick
  • #11,943
  • Feb 19, 2008 8:21pm Feb 19, 2008 8:21pm
closed my euro CT for +10 pips. have to get some sleep,. will wait for a TC in teh morning, gotta wake up at 3 am. good job on th GU TC . looking good .
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #11,944
  • Feb 19, 2008 8:32pm Feb 19, 2008 8:32pm
Nice to see people making money, that makes me smile!
Keep taking CT trades, I need more money
  • #11,945
  • Edited 9:20pm Feb 19, 2008 9:02pm | Edited 9:20pm
Not so fast on the GU TC.... I decided to set the first TP at 25 pips, went to 20, when I moved the stop to -5 pips on both halves.... Then headed north and I let a 20 pip (well would have been 10 on average) profit turn to a -5 pip loss.... Damn those tails.......

Watching a possible TC on the Eur/Chf if you like the cross pairs....

Quoting BIL2205
closed my euro CT for +10 pips. have to get some sleep,. will wait for a TC in teh morning, gotta wake up at 3 am. good job on th GU TC . looking good .
  • #11,946
  • Feb 19, 2008 9:03pm Feb 19, 2008 9:03pm
Palmer, I still get a little uneasy but it is getting easier to pull the trigger. It also helps a lot to have some good posters on this site like Phillip, yourself, Ryan, and a few others. It really seams like this month I can really start to see the rhythm. Many miles to go though.
  • #11,947
  • Feb 19, 2008 9:30pm Feb 19, 2008 9:30pm
Quoting EricthePip
Not so fast on the GU TC.... I decided to set the first TP at 25 pips, went to 20, when I moved the stop to -5 pips on both halves.... Then headed north and I let a 20 pip (well would have been 10 on average) profit turn to a -5 pip loss.... Damn those tails.......

Watching a possible TC on the Eur/Chf if you like the cross pairs....

Got stopped on the GU @ cost, made a few on the EUR up for the day. Also that look good for a long 30min until close.
Keep taking CT trades, I need more money
  • #11,948
  • Feb 19, 2008 10:12pm Feb 19, 2008 10:12pm
Hi I entered this trade at the close of the 0:00 candle. Based on price honering the 8 and 21 moving averages, and a TC pattern on the macd. I do have some fear about the 200 ma. I think it will move away some before coming back to test.
entry 1.6142
stop1.5998

1st target will take off half of pos at 1.6162 then
move 2nd half to stop at 1.6122 with 20 pip trail for over night.
any comments would be welcome.
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  • #11,949
  • Feb 19, 2008 10:23pm Feb 19, 2008 10:23pm
I'm with you on that one... Could come down to the 200, but your stop is well below that (and mine). Coming down there (which is also the 8ema), could be a good launching pad.... Also noticed the E/U found support and formed what looks like a bottoming candle on it's 8ema. This will help our cause... Set an alarm for 1.6165, off to sleep....

Quoting JimTatum
Hi I entered this trade at the close of the 0:00 candle. Based on price honering the 8 and 21 moving averages, and a TC pattern on the macd. I do have some fear about the 200 ma. I think it will move away some before coming back to test.
entry 1.6142
stop1.5998

1st target will take off half of pos at 1.6162 then
move 2nd half to stop at 1.6122 with 20 pip trail for over night.
any comments would be welcome.
  • #11,950
  • Edited 1:39am Feb 20, 2008 1:23am | Edited 1:39am
I have taken a short on the USD/CHF. entry 10949 SL 10974.

Trend is still down made a lower high plus making a second now. found resistance on the 89 21 and 8 ma's made a spinner on last candle. some good evidence on the pa the macd giving a light TC. what made me pull the trigger was the cluttered rally that finished as a lower high with the resistance on the ma's.

good piping
Attached Image (click to enlarge)
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  • #11,951
  • Feb 20, 2008 2:33am Feb 20, 2008 2:33am
Quoting >Apocalypto<
I have taken a short on the USD/CHF. entry 10949 SL 10974.

Trend is still down made a lower high plus making a second now. found resistance on the 89 21 and 8 ma's made a spinner on last candle. some good evidence on the pa the macd giving a light TC. what made me pull the trigger was the cluttered rally that finished as a lower high with the resistance on the ma's.

good piping
Interesting.my chart look like this!!

mike
Attached Image (click to enlarge)
Click to Enlarge Name: chf.gif Size: 21 KB
Failure, is a wonderful teacher!
  • #11,952
  • Feb 20, 2008 2:37am Feb 20, 2008 2:37am
I know that not a lot of people don't trade Silver or even trade daily charts, but I decided to post this for those of us that follow commodities like Silver,but it might have something for a fellow trader to take out of it.
Anyway,I noticed that Silver Daily was giving a MACD Trend Continuation signal last night, but I stayed out of it because of the rising bearish wedge and the bearish MACD divergence that was also forming.Just to latch onto what Phillip always says about not chasing every MACD signal.Look at the bigger picture.This is a lesson I'm still working on myself. It might still have room to go up further, but I'll rather err on the side of caution.
Attached Image (click to enlarge)
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  • #11,953
  • Feb 20, 2008 2:41am Feb 20, 2008 2:41am
I'm only a newbie, so what do I know!. But too risky for me; also price made a higher low and (as per Phillip's comment) with the MA's bunched- a large move is possible - hope it works out for you.

freddi

Quoting >Apocalypto<
I have taken a short on the USD/CHF. entry 10949 SL 10974.

Trend is still down made a lower high plus making a second now. found resistance on the 89 21 and 8 ma's made a spinner on last candle. some good evidence on the pa the macd giving a light TC. what made me pull the trigger was the cluttered rally that finished as a lower high with the resistance on the ma's.

good piping
  • #11,954
  • Feb 20, 2008 3:01am Feb 20, 2008 3:01am
Quoting EricthePip
I'm with you on that one... Could come down to the 200, but your stop is well below that (and mine). Coming down there (which is also the 8ema), could be a good launching pad.... Also noticed the E/U found support and formed what looks like a bottoming candle on it's 8ema. This will help our cause... Set an alarm for 1.6165, off to sleep....
Did you guys get stopped out? I missed this trade, but if I was in front of a computer I would probably have taken it. Was there anything wrong with the setup? The 1 hour doesnt look too good between the hours of 00:00 and 04:00
  • #11,955
  • Feb 20, 2008 3:40am Feb 20, 2008 3:40am
Yes, but I just noticed JimTatum's stop was way down.... Sorry I didn't notice b/f, but is this right 1.5998 (142 pips)???

Quoting yofatmamma
Did you guys get stopped out? I missed this trade, but if I was in front of a computer I would probably have taken it. Was there anything wrong with the setup? The 1 hour doesnt look too good between the hours of 00:00 and 04:00
  • #11,956
  • Feb 20, 2008 4:07am Feb 20, 2008 4:07am
Quoting freddi
I'm only a newbie, so what do I know!. But too risky for me; also price made a higher low and (as per Phillip's comment) with the MA's bunched- a large move is possible - hope it works out for you.

freddi
not much of a higher low Freddi!

but anyway i am getting tanned! whatever is going on there is a very good demand for the swiss franc it's also up on the euro.
  • #11,957
  • Feb 20, 2008 4:09am Feb 20, 2008 4:09am
Quoting mike1349
Interesting.my chart look like this!!

mike
Mike that worries me abit. r u with ODL? I was just looking at my mates looks like yours a lot less bearish by far yours also looks like the net dania chat! I will leave it till stop like i always do . hmmm I wanted to go live with Alpari but now I am not so sure.

can't win them all!

stopped out.
  • #11,958
  • Feb 20, 2008 4:29am Feb 20, 2008 4:29am
I thought we were going to see a TC by 8:00 closed candle on EURO/USD and AUD/USD.
We'll see the fact after 30minutes.
  • #11,959
  • Feb 20, 2008 4:45am Feb 20, 2008 4:45am
Quoting >Apocalypto<
Mike that worries me abit. r u with ODL? I was just looking at my mates looks like yours a lot less bearish by far yours also looks like the net dania chat! I will leave it till stop like i always do . hmmm I wanted to go live with Alpari but now I am not so sure.

can't win them all!

stopped out.

My chart is GMT time.My broker IBFX

Good luck
Failure, is a wonderful teacher!
  • #11,960
  • Feb 20, 2008 4:59am Feb 20, 2008 4:59am
Hi Everyone, good morning / afternoon / evening (whatever is appropriate!),

I'm waiting for TC on the E/U. There is bearish divergence on the MACD, but this may have been resolved by the re-test of the 200sma. On the other hand it might not. I have no expectation of where price is going next, but I'll be here if it decides to carry on up!

Anyway, just been across to the 'is the 4hr strategy (MACD) the best system here at FF?' thread. Phillip has posted an audio file on page 2 (post 16). I think it is ESSENTIAL listening for all of us. Phillip isn't necessarily saying anything new, but it reminds us all of how we should be working and how we should be feeling in our hearts. At the risk of stepping on the toes of the translators, I shall transcribe it and post it here for those who have difficulty in understanding spoken English.

Cheery bye fur noo (goodbye for now in Scottish!)
Rebecca,x.
Attached Image
May all your pips grow into great big fruitful trees
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