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4 Hour Strategy (MACD)

  • #11,961
  • Feb 20, 2008 5:30am Feb 20, 2008 5:30am
Hi all,

I have also been watching E/U for the TC which I think is favourable off the 21 (note the 8 has already been broken). I was at one point thinking of taking the CT trade especially on the 1H spinner followed by engulfing bear but at best my target would be the 21 and Im not willing to take the risk.

So for the moment sitting on hands time.
  • #11,962
  • Feb 20, 2008 5:30am Feb 20, 2008 5:30am
Becareful on the GU TC.. It is too close to the daily TL I suppose.
Oh btw..
I can't see ur attachment there, Rebecca. Is it only happening to me?
  • #11,963
  • Feb 20, 2008 5:52am Feb 20, 2008 5:52am
Hi all,
I would like to do some analysis to the some pairs' 1H and 4H chart. And I saw many beautiful techincal analysis charts drawn by you. But I do not know how to insert the some 1H chart snapshots into the 4H charts in the MT4 platform.
Do you use special drawing software different from MT4?
Anyone can tell me how to make the all 1H and 4H analysis charts into one picture. Thank you very much.
--Aihua
Rhythm, Motion, Emotion and Risk Reward.
  • #11,964
  • Feb 20, 2008 6:06am Feb 20, 2008 6:06am
Quoting brettboz
Hi all,

I have also been watching E/U for the TC which I think is favourable off the 21 (note the 8 has already been broken). I was at one point thinking of taking the CT trade especially on the 1H spinner followed by engulfing bear but at best my target would be the 21 and Im not willing to take the risk.

So for the moment sitting on hands time.
Hmm wish I had taken that now..... (how many times have you said that to yourself?)
  • #11,965
  • Feb 20, 2008 6:18am Feb 20, 2008 6:18am
That was a strong resistance line.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 53 KB
  • #11,966
  • Edited 6:38am Feb 20, 2008 6:27am | Edited 6:38am
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.
What a screw up tonight! my TC actually turned into a semi round bottom. well you get these from time to time!

Ryan, r you holding anything short over the eur/usd still? If u did I can your smile from here!

my loss was around 30 pips................

The EURo is getting butchered across the board.
  • #11,967
  • Feb 20, 2008 6:50am Feb 20, 2008 6:50am
Quoting >Apocalypto<
What a screw up tonight! my TC actually turned into a semi round bottom. well you get these from time to time!

Ryan, r you holding anything short over the eur/usd still? If u did I can your smile from here!

my loss was around 30 pips................

The EURo is getting butchered across the board.
Bad luck yesterday, I did make a little on the Eur though, My GBP short got stopped out then I went long on the EURCHF and lost about 30, Yesterday was about a wash lol and a lot of work too I was putting my stop at cost when +20 and seems that is buring me or it did on the gbp yesterday. May have to re-think that.
Keep taking CT trades, I need more money
  • #11,968
  • Feb 20, 2008 6:57am Feb 20, 2008 6:57am
That's why I trade only one currency for now. . I am more disciplined.
  • #11,969
  • Feb 20, 2008 7:14am Feb 20, 2008 7:14am
Quoting aihua5
Hi all,
I would like to do some analysis to the some pairs' 1H and 4H chart. And I saw many beautiful techincal analysis charts drawn by you. But I do not know how to insert the some 1H chart snapshots into the 4H charts in the MT4 platform.
Do you use special drawing software different from MT4?
Anyone can tell me how to make the all 1H and 4H analysis charts into one picture. Thank you very much.
--Aihua
Curious about this myself...
  • #11,970
  • Feb 20, 2008 7:26am Feb 20, 2008 7:26am
Hi all,
I really like Snag it to capture charts. You get a free trail at www.snagit.com. You can record video too.

BTW, 1 Hi impact and 3 medium impact announcements coming up in a few minutes...
  • #11,971
  • Feb 20, 2008 7:36am Feb 20, 2008 7:36am
GBPUSD really took off. I didn't get in because of the tails going each way on the last candle. Oh well next time.
  • #11,972
  • Feb 20, 2008 7:51am Feb 20, 2008 7:51am
Quoting hijackxx
Becareful on the GU TC.. It is too close to the daily TL I suppose.
Oh btw..
I can't see ur attachment there, Rebecca. Is it only happening to me?
Sorry, it seemed to crash while uploading, but when I previewed my post it was there? I'll try again - looks like the bearish divergence was still to come after all!

So the 200 sma died under the weight of the bears, but that's the nature of a test - sometimes a test will give a different answer to the one you're hoping for!

Rebecca,x. (p.s. same thing happened again - said website not responding; chart is in preview however, but if it didn't work again, my apologies. It's not a particularly amazing chart anyway - just shows how the MACD gives a double top, where the corresponding highs on the chart are at different levels, (i.e. higher high) giving a divergence of trendlines drawn against MACD highs and corresponding chart highs).
Attached Image
May all your pips grow into great big fruitful trees
  • #11,973
  • Feb 20, 2008 8:11am Feb 20, 2008 8:11am
Took G/U TC short today at 12:00 (GMT+3). Enter 1.9442 SL 1.9478 TP1 1.9403 - got home to see that the first TP was hit, second is still open. Here is the chart for those who say that we post only history charts .
My previous trade was on the 15th of February, it's here on the thread (loss -50), so I was really patient waiting for setup.
Hope, you guys took it too.
Attached Image
  • #11,974
  • Feb 20, 2008 8:16am Feb 20, 2008 8:16am
I made 1 pip on the e/u and lost 5 on the gbp... (stop running?? before the big moves down).... E/U was my doing, short term trade, got impatient. E/C was a 33 pip loss for me, but looked like a good trade.... G/U was my doing as well, as I moved the stop to BE (-5) after 20 pips, then the market shot up.... Frustrating, when you were right and are watching from the sidelines.... More pips to come. I wonder it this is one of those dollar strength days to sell off US equities that Pip4U used to talk about??

Quoting Ryanmcd
Bad luck yesterday, I did make a little on the Eur though, My GBP short got stopped out then I went long on the EURCHF and lost about 30, Yesterday was about a wash lol and a lot of work too I was putting my stop at cost when +20 and seems that is buring me or it did on the gbp yesterday. May have to re-think that.
  • #11,975
  • Feb 20, 2008 8:17am Feb 20, 2008 8:17am
Here is the transcript for the audio file in the discussion thread as mentioned in my previous post. It's a great MP3 (as they all are!) but is especially good for those of us new to forex, and a reminder of the core principles of this strategy.

Hope it reads ok - I've got the latest word package and for some reason the file size is nearly 3 times the size when saved in the old format, and the new one came up as invalid! Please let me know if there are any problems with it.
Attached File(s)
File Type: doc Transcript of audio file.doc   32 KB | 572 downloads
May all your pips grow into great big fruitful trees
  • #11,976
  • Feb 20, 2008 8:24am Feb 20, 2008 8:24am
Quoting ira
Took G/U TC short today at 12:00 (GMT+3). Enter 1.9442 SL 1.9478 TP1 1.9403 - got home to see that the first TP was hit, second is still open. Here is the chart for those who say that we post only history charts .
My previous trade was on the 15th of February, it's here on the thread (loss -50), so I was really patient waiting for setup.
Hope, you guys took it too.
Nice one Ira!! Good to see you again, I was wondering where you were! Patience really does pay, woo hoo to you!!

The candles were too big for me when I got up and did my analysis this morning so missed it. Got a few pips on it last night by practising scaling out after moving to BE. I'm not confident enough to leave something running overnight so didn't even consider re-entering after my last 1/4 got stopped out.

Enjoy your pips,
Rebecca,x.
May all your pips grow into great big fruitful trees
  • #11,977
  • Feb 20, 2008 8:51am Feb 20, 2008 8:51am
Nice trade and great patience, I saw it this morning at 3AM EST, but at that point it was near the low of the tails, so I went back to bed. Emotionally, I had a little G/U fatigue at that point. Interesting if you look at the 1HR, the importance of placing the stop out of the way. Note the 8:00 candle is a bull engulfing (probably taking out a lot of stops). Then the 9:00 finally broke below the support. Note also this was at the whole number (1.9500). Note my platform shows the entry around 1.9460, stop may have been hit if one placed it around 1.9500

\
Quoting ira
Took G/U TC short today at 12:00 (GMT+3). Enter 1.9442 SL 1.9478 TP1 1.9403 - got home to see that the first TP was hit, second is still open. Here is the chart for those who say that we post only history charts .
My previous trade was on the 15th of February, it's here on the thread (loss -50), so I was really patient waiting for setup.
Hope, you guys took it too.
Attached Images
  • #11,978
  • Feb 20, 2008 9:04am Feb 20, 2008 9:04am
hi
there was a divergence in eu.if i consider that when i shorted the pair ,for sure i'd profit more that 10pips wich i made yesterday(i sold 4737 and closed with 10pips )
actually ,im thinking about maybe its better to trade ONLY ONE PAIR and know that by heart then it will be more easy to profit.
Attached Image (click to enlarge)
Click to Enlarge Name: eur1.gif Size: 31 KB
  • #11,979
  • Feb 20, 2008 9:18am Feb 20, 2008 9:18am
Quoting bshadroo
hi
actually ,im thinking about maybe its better to trade ONLY ONE PAIR and know that by heart then it will be more easy to profit.
I only looked at cable when I first started, nothing else for over a year. I saw lots of posts where people were making profits on other pairs but still stuck to cable. It was by doing this that I finally got my head around rhythm and emotion, and most importantly, non-rhythm. Now I can look at other charts, although I still look at only 4, and can see whether a pair is in rhythm or not.

I think that if you look at too many different charts you are skimming the surface of the system and missing what's underneath, at its heart. I thoroughly recommend the one pair only philosophy for everyone until they can honestly say to themselves, yes, I know what rhythm and motion and emotion is.
May all your pips grow into great big fruitful trees
  • #11,980
  • Feb 20, 2008 9:20am Feb 20, 2008 9:20am
Yesterday was bad trading on my part, I did make a few pips but I really screwed up on my money management. For now on I am going to try to take 20-25 on 1/2 and put the stop @ 20-25 above cost so if I get stopped out I am BE. Yesterday I took a few off at 20-25 then put stop @ cost and got stopped out then it ran, I think yesterday was not the norm but if I managed the trades better I would be about +130ish on all lots today not +10. Any other ideas on how everyone manages the trades?
Keep taking CT trades, I need more money
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