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4 Hour Strategy (MACD)

  • #12,341
  • Feb 28, 2008 8:56am Feb 28, 2008 8:56am
I entered on GU long at 19860
SL 19825
1° TP 19890
Reasons:
- TC on 4h MACD
- Nice tail on 21EMA, also on ascending TL and also on 23.6 fib level
- Candle pattern: morning star
  • #12,342
  • Feb 28, 2008 9:04am Feb 28, 2008 9:04am
Quoting bshadroo
ok. TCs are coming in almost all pairs ,now should decide wich one is better.
ok.. i can see tc in eu,gu,uj,uc ,but the stoplosses are very large
  • #12,343
  • Feb 28, 2008 9:13am Feb 28, 2008 9:13am
SHORT: EURGBP at .7615.
SL: .7642 (above highest wick)
TP1: .7585 (above 21 MA)
TP2: Lower TL (.7554)

Candle wicks making lower highs. Previous candles bounced off upper TLs. MACD confirmation as well.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 25 KB
  • #12,344
  • Edited 10:16am Feb 28, 2008 9:19am | Edited 10:16am
Quoting deforexit
To enter or not to enter?
(long on GU)
My answer is "To enter".
Im long since 1.9880

EDIT:
Closed half for 21pips
Half closed at BE.
Satisfied enough, although EU did much better push to the upside.
  • #12,345
  • Feb 28, 2008 9:54am Feb 28, 2008 9:54am
Quoting brettboz
I got in early this morning on E/U but it was too early, the trend line had not broken and I actually mentioned it in my notes for the trade. Of course it failed -25 pips but then I got in early again second time around with the trend line breaking and it also happened to be morning star on the 1H off the 21 (or 8 on 4H). This has been closed now for 35 pips so at least I clawed back the 25 I lost earlier.

I dont like revenge trading but today for once it seemed I had simply got in too early the basic premise of my trade was not wrong the first time around just the timing was off.
I still have half this trade open and now the 4H MACD TC signal has been given Im enclined to leave it open to see where we go. I will probably move the stop just below the 50% retrace of the 4H candle to lock in profit on the remainder of this trade.
  • #12,346
  • Feb 28, 2008 10:01am Feb 28, 2008 10:01am
Closed it out for 50 pips

Still in original position for +530

Gotta run...
  • #12,347
  • Edited 10:48am Feb 28, 2008 10:11am | Edited 10:48am
MACD TC from the 8ema with nice signal bullish candle. Nice small pullback candles to 8ema and then the bullh candle

Enter 1.5140
SL 1.5080
TP at 161,8% Fib Will take 50% after 25 pips

Edit 1
50% closed after 25 pips and remainder set at BE.

Edit 2
Will watch 1.5200 closely for resistance

Edit 3
Closed remainder at 1.5184
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 23 KB
  • #12,348
  • Feb 28, 2008 10:25am Feb 28, 2008 10:25am
Quoting Phillip Nel
MACD TC from the 8ema with nice signal bullish candle. Nice small pullback candles to 8ema and then the bullh candle

Enter 1.5140
SL 1.5080
TP at 161,8% Fib Will take 505 after 25 pips

Edit 1
50% closed after 25 pips and remainder set at BE.
I'm sorry Phillip I don't understand what you mean by 505??
Can you please explain a little bit clearer to me?

Quoting BIL2205
i think he meant 50% ... ,
DANG!!!
  • #12,349
  • Feb 28, 2008 10:26am Feb 28, 2008 10:26am
i think he meant 50% ... ,
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #12,350
  • Feb 28, 2008 10:31am Feb 28, 2008 10:31am
Quoting hijackxx
I'm sorry Phillip I don't understand what you mean by 505??
Can you please explain a little bit clearer to me?


DANG!!!
50%
  • #12,351
  • Feb 28, 2008 11:02am Feb 28, 2008 11:02am
Well,

All good things must come to an end. I'm moving the stop all the way up to 5150. This locks in 500 pips for this trade. I'm out of the office all day tomorrow and for the majority of the afternoon. I guess that makes the target for the next trade at least 750
  • #12,352
  • Feb 28, 2008 11:17am Feb 28, 2008 11:17am
Good trades everyone. I was worried about the news so I waited about 45 minutes after the news came out and the trade already happened. My question is what time did everyone make the trade? Was it right after he spoke I always try to let the markets settle after news but in this case it hurt me. The worst thing was that I saw everyone of these trades forming but my account does not reflect it.
  • #12,353
  • Feb 28, 2008 11:54am Feb 28, 2008 11:54am
I want to thenk everyone, especially Phil, of course.
I think I'm learning!
  • #12,354
  • Feb 28, 2008 12:29pm Feb 28, 2008 12:29pm
These are very forgiving markets. I made perhaps the dumbest trade ever on the EURGBP (-22), but was able to get 50 pips on the GBP.
  • #12,355
  • Feb 28, 2008 1:20pm Feb 28, 2008 1:20pm
Quoting Hookem28
These are very forgiving markets. I made perhaps the dumbest trade ever on the EURGBP (-22), but was able to get 50 pips on the GBP.
You should've taken only TC in these forgiving markets you know. You took a EURGBP CT didn't you?
Why do you wanna stop a running train instead of going with the train?
What I did on the first few days since I joined the forum was trying to stop all the current price movement (CT), and the results were all messed up.
Like Ira said before (long time ago, forgot which post), taking TCs, going with the rhythm gives us much higher probability trades. And it happens!
  • #12,356
  • Feb 28, 2008 1:31pm Feb 28, 2008 1:31pm
Quoting Hookem28
These are very forgiving markets. I made perhaps the dumbest trade ever on the EURGBP (-22), but was able to get 50 pips on the GBP.
Forget the bad trade, I got burnt so many times with CT and now I just take them if there is divergence or MACD or good signals on Daily chart.
I hope it helps you.
  • #12,357
  • Feb 28, 2008 1:36pm Feb 28, 2008 1:36pm
Quoting hijackxx
You should've taken only TC in these forgiving markets you know. You took a EURGBP CT didn't you?
Why do you wanna stop a running train instead of going with the train?
What I did on the first few days since I joined the forum was trying to stop all the current price movement (CT), and the results were all messed up.
Like Ira said before (long time ago, forgot which post), taking TCs, going with the rhythm gives us much higher probability trades. And it happens!
It's funny. We are not so different but you are so far away from me.

My stage now is stopping every train !

And it's NOT GOOD 4 me
4X is the biggest casino in the world...Open 24h Monday to Friday.
  • #12,358
  • Feb 28, 2008 2:00pm Feb 28, 2008 2:00pm
Quoting pipsy_2
It's funny. We are not so different but you are so far away from me.

My stage now is stopping every train !

And it's NOT GOOD 4 me
Because of the family environment I got here on this forum, and a little of positive mind, I think . I enjoy being wrong and knocked out by others, and take those lessons into account.
  • #12,359
  • Feb 28, 2008 3:28pm Feb 28, 2008 3:28pm
Thanks for the feedback guys. I like how people on this forum want to help others.
My bad trade was an example of seeing what you want to see. I was seeing the wicks, while ignoring the trend and the support below.
Now all I need is a nice "what were you thinking" from Ryan, and all is well.
  • #12,360
  • Feb 28, 2008 3:40pm Feb 28, 2008 3:40pm
Well, ya know what. I had a change of heart here...Since the EU is having trouble closing below the 8, I'll put the SL below that and keep trying to milk this thing for every penny I can. I know I originally said that I was going to let the method take me out but I'm thinking that a close below the 8 will at least give a move back down to the 21 for a TC. I currently have the SL at 5060, several pips below the 8. There are a few interesting things here. Using the low on 2/7/08 and the high on 2/1/08 (correct me if I drew the Fib wrong) has the 161 retrace level about 30 pips above the current price. That's AT the 161 level in my eyes see chart. What happens from here...I keep thinking retrace but, whatever. Now the weekly chart, yes weekly. Pending a retrace, the weekly has just broken out of it's own range so according to this chart, this move is far from over. Because this run is moving like it is, it might not hurt to check the daily chart every once in a while just to keep the bigger picture in mind.

I know I said I was going to add more 1 hour examples to the site, still working on that. It's just that for every new page added, a new link(s) has to be added to every single page and reloaded on to the server. I just noticed last night that I spelled recycle wrong in some of the links so you were being directed to an 'oops sorry' page. So, oops sorry about that. I'm bringing work home with me for the next several weeks so that has the majority of my attention right now...
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