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4 Hour Strategy (MACD)

  • #12,241
  • Feb 26, 2008 4:28pm Feb 26, 2008 4:28pm
Apocalypto: Very well done. Feels good doesn't it!

Pipsi-Cola: About $33 per standard lot today.

bsadroo: Yeah, still in. We just spiked up to 1.5040 for some reason.

Up +385 right now. This is from the entry on post #12015. There was nothing special about the entry. Just a typical re-entry per the 4 hour trend using the 1hr to get in early. This position just happened to keep going and I was fortunate enough to 'be around' to take the trade.
  • #12,242
  • Feb 26, 2008 4:30pm Feb 26, 2008 4:30pm
closing my long EURO @1.5030 for 60 pips
  • #12,243
  • Feb 26, 2008 5:34pm Feb 26, 2008 5:34pm
Nice pips mike_dg. Bank em' when you can, always.

I finally found some quotes/charts for the website that actually work. The problem is with the java/applet/server 'stuff' that is out of my control and I'm kinda glad it is...
  • #12,244
  • Feb 26, 2008 5:35pm Feb 26, 2008 5:35pm
I can still remember someone said euro wouldn't go over 1.5, well..
Anything is possible
  • #12,245
  • Edited 6:08pm Feb 26, 2008 5:43pm | Edited 6:08pm
Hi Palmer, while you're still here I wanna ask something about the current market movement. Does it always consolidate after a big move such as today?

EDIT: Refreshed the page and Palmer is gone.
  • #12,246
  • Feb 26, 2008 6:38pm Feb 26, 2008 6:38pm
hijacxx:

You would think that there would be a situation where the market has to come back down or pause at some point. This is the daily chart for the EU. Take a look at the tops and the distance that price is away from the 8. Where price is now, it looks exactly like those previous tops and the resulting price action pulled the price back down at least to the 8. The EU has already come down from it's high and is about 140 pips above the 8. The market can do whatever it wants to, we all know that. Price has already fallen back about 60 pips from the high today. I don't think that there is no real timeframe for when a market has to or will pull back. The charts tell us when that is happening. Bernancke and the CPI come out tomorrow so who knows what is going to happen. This market is all US economy driven right now. Corn is over $5 per bushel, oil is over $100 per barrel, gold is almost $1000 per ounce and the housing market is in the crapper right now. I think some of the logic behind pullbacks are the big money traders taking profits. 'Our' trades don't even show up if you know what I mean....

I have got to take a shower...
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  • #12,247
  • Feb 26, 2008 7:03pm Feb 26, 2008 7:03pm
Quoting Palmer
hijacxx:

You would think that there would be a situation where the market has to come back down or pause at some point. This is the daily chart for the EU. Take a look at the tops and the distance that price is away from the 8. Where price is now, it looks exactly like those previous tops and the resulting price action pulled the price back down at least to the 8. The EU has already come down from it's high and is about 140 pips above the 8. The market can do whatever it wants to, we all know that. Price has already fallen back about 60 pips from the high today. I don't think that there is no real timeframe for when a market has to or will pull back. The charts tell us when that is happening. Bernancke and the CPI come out tomorrow so who knows what is going to happen. This market is all US economy driven right now. Corn is over $5 per bushel, oil is over $100 per barrel, gold is almost $1000 per ounce and the housing market is in the crapper right now. I think some of the logic behind pullbacks are the big money traders taking profits. 'Our' trades don't even show up if you know what I mean....

I have got to take a shower...
Fantastic Post Palmer, so true.
  • #12,248
  • Feb 26, 2008 7:54pm Feb 26, 2008 7:54pm
Quoting Palmer
hijacxx:

You would think that there would be a situation where the market has to come back down or pause at some point. This is the daily chart for the EU. Take a look at the tops and the distance that price is away from the 8. Where price is now, it looks exactly like those previous tops and the resulting price action pulled the price back down at least to the 8. The EU has already come down from it's high and is about 140 pips above the 8. The market can do whatever it wants to, we all know that. Price has already fallen back about 60 pips from the high today. I don't think that there is no real timeframe for when a market has to or will pull back. The charts tell us when that is happening. Bernancke and the CPI come out tomorrow so who knows what is going to happen. This market is all US economy driven right now. Corn is over $5 per bushel, oil is over $100 per barrel, gold is almost $1000 per ounce and the housing market is in the crapper right now. I think some of the logic behind pullbacks are the big money traders taking profits. 'Our' trades don't even show up if you know what I mean....

I have got to take a shower...

Back..
That makes sense! Thank's Palmer.
  • #12,249
  • Feb 26, 2008 8:57pm Feb 26, 2008 8:57pm
Hey congratulations to all on those trades. I got a good entry on EU at 1.4800 on antisipation trade based on the 21 and the trendline but I close too early at 1.4870. great trade, can't complain but ufff it hurts a little. (well it's part of the game)

Right now I m looking at a pin bar or tail on USD CHFand EUR USD. will see.
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The more obstacles I overcome the better man I become.
  • #12,250
  • Feb 26, 2008 10:24pm Feb 26, 2008 10:24pm
We have confirmed support on the 1 hour USD/CHF now. (as in right now)

Backing up a round bottom CT that i think is in the making on the 4hour. also the tail on the last 4hour bar add's to this theory.

chart shows a lower high with two selling rejection tails. MACD shows what i call a lower high shoulder. I personally am more bullish then bearish in the short term but London and NYSE open is still hours away.

Cheers
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  • #12,251
  • Feb 27, 2008 12:01am Feb 27, 2008 12:01am
What a run we saw yesterday...
I think tat today we might see some pullback, maybe to 8 ema .
for now I am waiting for MACD signal the first red line, I will go short with a very tight stop. First target will be 30 pips the rest BE and looking for a retracement to 8 EMA.

Any opinions..are welcome as always

Regards,
B
  • #12,252
  • Feb 27, 2008 12:47am Feb 27, 2008 12:47am
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.
Palmer - What a trade! I hope one day I would be able to hold my position for so long, it's really a key - to stay in the trend as long as possible.

My E/U was closed yesterday +6 and then it ran, but I managed to catch pips on G/U. Made my monthly goal yesterday +200, so no CT's in my plan now. This month was difficult for me to trade, made some nice pips in the beginnig, then spent them during the month, and now when I thought that I won't get my monthly goal very good TC's came, so patience pays off.
  • #12,253
  • Edited 1:54am Feb 27, 2008 1:14am | Edited 1:54am
I'm sorry Ryan, i just took a 1hour trade GU TC. The rounding bottom and TC convinced me to take it..
EDIT: 13pips for the trade.
  • #12,254
  • Feb 27, 2008 1:21am Feb 27, 2008 1:21am
Quoting >Apocalypto<
We have confirmed support on the 1 hour USD/CHF now. (as in right now)

Backing up a round bottom CT that i think is in the making on the 4hour. also the tail on the last 4hour bar add's to this theory.

chart shows a lower high with two selling rejection tails. MACD shows what i call a lower high shoulder. I personally am more bullish then bearish in the short term but London and NYSE open is still hours away.

Cheers
Well nuts to that idea!
  • #12,255
  • Feb 27, 2008 2:47am Feb 27, 2008 2:47am
Quoting ira
Palmer - What a trade! I hope one day I would be able to hold my position for so long, it's really a key - to stay in the trend as long as possible.

My E/U was closed yesterday +6 and then it ran, but I managed to catch pips on G/U. Made my monthly goal yesterday +200, so no CT's in my plan now. This month was difficult for me to trade, made some nice pips in the beginnig, then spent them during the month, and now when I thought that I won't get my monthly goal very good TC's came, so patience pays off.
Well done. The market will give you +200 per month on the 4H strategy if you dont make more than 2 mistakes per month. Patience is the key. THEY will move the market even if it is at the end of the month because THEY(the big ones) must get THEIR targets as well.
  • #12,256
  • Feb 27, 2008 2:51am Feb 27, 2008 2:51am
Quoting Palmer
Apocalypto: Very well done. Feels good doesn't it!

Pipsi-Cola: About $33 per standard lot today.

bsadroo: Yeah, still in. We just spiked up to 1.5040 for some reason.

Up +385 right now. This is from the entry on post #12015. There was nothing special about the entry. Just a typical re-entry per the 4 hour trend using the 1hr to get in early. This position just happened to keep going and I was fortunate enough to 'be around' to take the trade.
Anyone watching the eur/usd!

I think Palmer will be retiring after this trade!
  • #12,257
  • Feb 27, 2008 2:53am Feb 27, 2008 2:53am
Quoting >Apocalypto<
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
Thanks for posting your trades in detail - great for newbies like me!

freddi
  • #12,258
  • Feb 27, 2008 4:08am Feb 27, 2008 4:08am
Yesterday I took a very similar trade to Philip on the G/U and also closed it fairly early.

Anyway today I see price on both pairs has moved a huge amount and of course at some point we will see it retrace for a CT move but I think its a very high risk business going for the CT after moves like this. So I am waiting for a pull back and then TC.
  • #12,259
  • Feb 27, 2008 4:18am Feb 27, 2008 4:18am
Quoting brettboz
Yesterday I took a very similar trade to Philip on the G/U and also closed it fairly early.

Anyway today I see price on both pairs has moved a huge amount and of course at some point we will see it retrace for a CT move but I think its a very high risk business going for the CT after moves like this. So I am waiting for a pull back and then TC.
another way is trade with smaller TFs ,phillip has a m5 system also
  • #12,260
  • Feb 27, 2008 4:21am Feb 27, 2008 4:21am
Quoting bshadroo
another way is trade with smaller TFs ,phillip has a m5 system also
I used to trade a system I developed myself on the 15min chart which was quite successful but due to work commitments I find it hard to follow the markets close enough to be able to use this system properly.

Thats one of the main reasons I started looking at larger time frames such as the 4H.
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