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4 Hour Strategy (MACD)

  • #12,221
  • Feb 26, 2008 9:44am Feb 26, 2008 9:44am
A fun day it was
  • #12,222
  • Feb 26, 2008 9:46am Feb 26, 2008 9:46am
Quoting Hookem28
Phil,
I was having trouble analyzing your TP for a GBPUSD trade on Feb. 14, in which you made 10 pips. Here was your marks.

Buy Entry 1.9704
Stop: 1.9669
TP: 1.9738

Did you take 50% profit at 1.9738 (24 pips) and eventually get stopped out on the remaining 50% at 1.9700 (-4 pips)?

I understand why you entered, but couldn't decipher your exit strategy.
Nice trade on the GBP trade today!

Hi
1.9738 was my anticipated TP area I looked at to close my trade. I took 50% gain on +20pips and set the rest at BE. It did not reached my TP of 1.9738 but took me out at BE therefore +10pips average.
  • #12,223
  • Feb 26, 2008 9:57am Feb 26, 2008 9:57am
Great. Thanks!!
  • #12,224
  • Feb 26, 2008 10:01am Feb 26, 2008 10:01am
Quoting BIL2205
Totally off topic but anyone having problem accessing their HOTMAIL account today. thanks
Same problem.. Can't access the site.
  • #12,225
  • Feb 26, 2008 10:04am Feb 26, 2008 10:04am
Quoting Phillip Nel
Hi
1.9738 was my anticipated TP area I looked at to close my trade. I took 50% gain on +20pips and set the rest at BE. It did not reached my TP of 1.9738 but took me out at BE therefore +10pips average.
what?
price never come back to ur entry after ur 20pips profit.how your BE stoploss hitted?did u entered exactly on 9705?
if that tail wich i show in m5 took u out ,may be we have discover a fishing in mig broker( if u use mig)
Attached Image (click to enlarge)
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  • #12,226
  • Feb 26, 2008 10:17am Feb 26, 2008 10:17am
Quoting bshadroo
what?
price never come back to ur entry after ur 20pips profit.how your BE stoploss hitted?did u entered exactly on 9705?
if that tail wich i show in m5 took u out ,may be we have discover a fishing in mig broker( if u use mig)
The above answer was for a trade a did on 14Feb and not todays GbpUsd. I had my stop also at 1.9690 for todays trade.
-------------------------------------------
Todays GbpUsd trade
MACD confirmed the breakout with TC signal. Waiting for 1Hour pullback

13:00 1 Hour pullback entry
Entry 1.6705
Stoploss 1.9680 (Only prepared to risk 25)
TP 1.9815 at 365ema. Watch for 1.9800 pricelevel



Edit 1
50% closed at 1.9735. Remainder set at 1.9690.

Edit 2
Closed remainder at 1.9798

  • #12,227
  • Feb 26, 2008 10:22am Feb 26, 2008 10:22am
Quoting Phillip Nel
The above answer was for a trade a did on 14Feb and not todays GbpUsd. I had my stop also at 1.9690 for todays trade.
-------------------------------------------
Todays GbpUsd trade
MACD confirmed the breakout with TC signal. Waiting for 1Hour pullback

13:00 1 Hour pullback entry
Entry 1.6705
Stoploss 1.9680 (Only prepared to risk 25)
TP 1.9815 at 365ema. Watch for 1.9800 pricelevel



Edit 1
50% closed at 1.9735. Remainder set at 1.9690.


Edit 2

Closed remainder at 1.9798

oh ........... yes
ridicules mistake
  • #12,228
  • Feb 26, 2008 10:31am Feb 26, 2008 10:31am
Quoting bshadroo
palmer:
hi , where do u wanna close ur eu long? ,its now 4916
I'm still long from 4653. Going to ride this one for a s long as possible. Managing the stop loss with the new support levels but far enough away to give room to the price action. I missed the TC this morning....
  • #12,229
  • Feb 26, 2008 10:37am Feb 26, 2008 10:37am
Quoting bshadroo
oh ........... yes
ridicules mistake
No problem except I closed to quickly. It is still running. But I had to leave some pips for someone else.
  • #12,230
  • Feb 26, 2008 11:23am Feb 26, 2008 11:23am
Quoting Palmer
I'm still long from 4653. Going to ride this one for a s long as possible. Managing the stop loss with the new support levels but far enough away to give room to the price action. I missed the TC this morning....
sorry but i think 4945 is a very strong resistance and price can come back all the way down to the 1.43's. where is your stoploss now?(just asking for learn)
  • #12,231
  • Feb 26, 2008 11:52am Feb 26, 2008 11:52am
Quoting bshadroo
sorry but i think 4945 is a very strong resistance and price can come back all the way down to the 1.43's. where is your stoploss now?(just asking for learn)
stop is at 4810..

EU 25 away from 1.5000

Don't worry...I don't plan on giving too much back here.
  • #12,232
  • Feb 26, 2008 12:00pm Feb 26, 2008 12:00pm
bought EUR RIGHT HERE @1.4970, TARGET 1.5
  • #12,233
  • Feb 26, 2008 12:03pm Feb 26, 2008 12:03pm
Quoting Palmer
stop is at 4810..

EU 25 away from 1.5000

Don't worry...I don't plan on giving too much back here.
well.. maybe it can go above 1.45
look at oil,gold,silver seems world is ready for new prices
  • #12,234
  • Feb 26, 2008 12:38pm Feb 26, 2008 12:38pm
This is the daily EU.

We're at the high from 11/23/2007. The 4hr is in the process of closing above the 100% retracement level and is a long way from the 8ema. I'm thinking there has to be a pullback to the 8ema (about 80 pips above it) at some point; a CT trade. But, this pair is moving for a reason so I'd be very conservative with a counter trend trade here and definitely take profits on the way back down to the 8. There's plenty of room here to do that. This position is currently up about 320 pips. I could call it right here but I'm just going to let this do what it wants to do...

Thanks Phillip!
Attached Image
  • #12,235
  • Feb 26, 2008 12:45pm Feb 26, 2008 12:45pm
Quoting Palmer
I'm still long from 4653. Going to ride this one for a s long as possible. Managing the stop loss with the new support levels but far enough away to give room to the price action. I missed the TC this morning....
Hi Palmer,

Nice long there! I was wondering how is swap affecting your trade?
  • #12,236
  • Feb 26, 2008 1:13pm Feb 26, 2008 1:13pm
I watched and did not know what to do with the EU and GBP. When I got home from work and saw what had happened I was quite frustrated with myself and thought about getting in at the tail end, but realized I was not about to trade for the right reasons, so I went to the gym. I have since been over both the EUR and GBP opportunities yesterday and today, plus reviewed fibo retracement of large candles. I feel better prepared for the next opportunity and will probably review again when a break out is close. So for all those who are relatively new( including myself) keep practicing, making mistakes, learn and prepare for tomorrow
Raymond
  • #12,237
  • Feb 26, 2008 2:01pm Feb 26, 2008 2:01pm
I closed out two of my trades this morning and was profit stopped on one. when I woke up this morning I was over 200 pips up, that was the main reason I closed out. Was a very nice change to a few of the crappy calls I made last week. the eur/usd and the swissy have continued their trends, looking for new TC signs.

Long
We all saw it, the news related thrust into a TC, wow what a push. I took this trade on the four hour. I entered at the new candle at my time 10pm there was a strong bounce off the 21 MACD gave a TC my stop is just under the 61% point of the bullish engulfing bar risk is 43 pips.

Ent 14864
stop 14821

Closed out +104 pips

USD/CHF
Short
I took a TC on the swissy resistance at the 21 fall broke the minor rally MACD gave a ZB. some support to watch at 10833.

Ent 10869
stop 10907

Closed out +112 pips

**1 hour trade**
EUR/CHF
Long
MACD gave a micro round bottom, but main reason i took it is by eye it hit the trend angle and bounced off. You will also notice the PA is in a bullish continuation pattern. I know this is not a 4 hour trade but I felt it worth putting up.

Ent 16153.6
stop 16134

Stopped out +9 pips
  • #12,238
  • Feb 26, 2008 2:14pm Feb 26, 2008 2:14pm
Quoting Palmer
This is the daily EU.

We're at the high from 11/23/2007. The 4hr is in the process of closing above the 100% retracement level and is a long way from the 8ema. I'm thinking there has to be a pullback to the 8ema (about 80 pips above it) at some point; a CT trade. But, this pair is moving for a reason so I'd be very conservative with a counter trend trade here and definitely take profits on the way back down to the 8. There's plenty of room here to do that. This position is currently up about 320 pips. I could call it right here but I'm just going to let this do what it wants to do...

Thanks Phillip!
320 pips that a great paper score Palmer well done! now the macd is at +45 there is a good chance for a CT to the 8 ema I agree that's where I will be watching.

again great score and post Palmer.
  • #12,239
  • Edited 2:35pm Feb 26, 2008 2:20pm | Edited 2:35pm
Quoting bshadroo
well.. maybe it can go above 1.45
look at oil,gold,silver seems world is ready for new prices
ir breaks up 1.5 hope u still holding ur buy palmer
and.. does any one knows the fundumentals behind it?
  • #12,240
  • Feb 26, 2008 2:24pm Feb 26, 2008 2:24pm
Woah!!! Look At The Eur/usd Go!
"The market pays you to be disciplined"
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