I'm on your side...
Edit: Bought the loonie.
4 hour strategy (the nausbot - 4 hour trader) 11 replies
4 Hour Strategy Macd+other Indicator 21 replies
X-1102 1 hour , 4 hour and daily Tf trades 7 replies
Create a verticle line at certain hour for every certain hour 16 replies
Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies
DislikedMembers and Friends,
I had a trade on GBP/USD yesterday based on higher low on 4H MACD. Below is the scenario:
1. Long Entry @ 1.9412
2. Profit target is between 8EMA and 21EMA, price level 1.9460 pips. 48 pips target.
3. Stop loss @ 1.9379. 33 pips.
4. Trade close @ 1.9452, Time: Feb 21, 6:41AM. When I saw 25 pips up, I cancelled my limit order and I put my trailing stop 20 pips off of market price before went to sleep. It stopped me at 1.9452 (40 pips gain). In the morning I saw it is trading in the price range of 1.9580 – 1.9597. I need to figure out how to make more profit situation like this. Any suggestion from you will be apprciated. Trailing stop feature is not really working for me. I would post the setup chart but I have not figured out how to post chart.
Thanks,
RahimIgnored
DislikedWhen one is trading from the 4H - looking at the daily rhythm gives a hint of direction bias. But if you also look to the 1H swing rhythm it will aid in your entries.
But look at my GBP trade this morning - I call this my 1st reject entry on the minor swing perfect bounce. If one can understand what price is doing on the 4H then see the price playing out on the 1H - one can pin point the entry.
Basically you look at the daily for a direction bias - then once the 4H is setting up for a TC the 1H will be in a corrective price movement. You can safely enter when a price swing satifies the rhythm. To me in order to objectively define the rhythm I use fibs - the 8ema is 32% and the 21 is 62%.
A swing has satisfy the rhythm when it bounces perfectly. Look at the red line swing and the star formation - that is a perfect bounce or time to enter.
Call me nuts by looking at the daily, 4H, 1H and yet a smaller cycle the 1H minor swing. But I hope some of you see what I just posted - it is truly the key to price movement. Because in order for the 4H move to continue there has to be a TC rhythm bounce on a smaller timeframe. If you entered yesterday on the 4H MACD your entry is not ideal. In a corrective cycle the ideal time is when a price swing has shown a perfect bounce - this is a strong indication the 4H move will now continue. I believe what I just posted is what the experienced traders can see - or if they can't see but feel. It is so simple yet so hard to see.Ignored
DislikedWow, Phillip. thanks for so much detail explanation,
No trade on euro for GMT , inverted hammer and then the loooong candle. will wait for a nice setup.Ignored
Dislikedok.here is the Break out.Now we should wait for pull back and move away, I guessIgnored
DislikedWow, Phillip. thanks for so much detail explanation,
No trade on euro for GMT , inverted hammer and then the loooong candle. will wait for a nice setup.Ignored