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4 Hour Strategy (MACD)

  • #12,361
  • Feb 28, 2008 3:57pm Feb 28, 2008 3:57pm
Thanks for the update... still a little below the support of this morning, hopefully the 8 will hold and you can keep walking up your stop with new support...



Quoting Palmer
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...
  • #12,362
  • Feb 28, 2008 7:59pm Feb 28, 2008 7:59pm
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 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
Phillip,
I remembered you would not take this kind of trade if the SL > 50 and R:R < 1: 0.9.
But in your this trade, SL=60, R:R = 60:44 =1:0.73, it seems that you did not use "large candle entry spread" strategy for the trade entry yet.

Do you have changed the SL & RR rules in the strategy?
Sorry for my question.

Cheers
Aihua
Rhythm, Motion, Emotion and Risk Reward.
  • #12,363
  • Feb 28, 2008 8:09pm Feb 28, 2008 8:09pm
Hi All,

Million thanks for all of you that contribute to this thread exspecially to Phillip. I am still reading important on this thread. It is very great and excellent thread. I am learning more here than what I learnt from the trading seminar. It is very fantastic thread that created by all of you.

Just do some analysis and trading plan on the EU for a CT. Please point me out if i am wrong to help me keep improving.



Million thanks
Kim
Attached Image (click to enlarge)
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  • #12,364
  • Feb 28, 2008 9:12pm Feb 28, 2008 9:12pm
It nice to have someone else who is new to the system. I've been doing this for about a month. Phillip recommend to just try TC at first and then try the CT later. But I have done a few myself just to get a little experience. I would set your BE to 20 and make your first TP at the 8 EMA or maybe just above. You look to be a little aggressive with your TP. That's is my 2 cents. Welcome and I wish you many pips
Raymond
  • #12,365
  • Feb 28, 2008 11:43pm Feb 28, 2008 11:43pm
I'm glad to see that people are making money, keep the good work up and make Phillip to be proud of his students .
Hookem28, I'm not Ryan and that's not my style, all I want to say - consentrate on the TC. Don't worry the market is here and won't go anywhere , and belive me you'll make planty of pips only on TC. And better don't trust me, do some backtesting. (Donna, I keep repeating it like you always do )

Could I have missed the TC on G/U yesterday? No way, I was waiting for it and prepared. Look at my charts, E/U didn't give me a chance to enter, but there was a nice TC on G/U, so I entered at the close of the candle. There is always a chance, even if you watch only 3 pairs. Sorry for not posting this trade yesterday, I was recieving some guests.
OK, here are some details: enter 1.9868 1 mini lot and one pending order in case price would retrace to the 38 Fib level (that could give me a chance for very small SL). Pending order didn't trigger, although the price has touched this level, I always forget that when you use buy limit you have to include spread as we see on the graph bit line and we buy in ask. SL 1.9834 TP 1.9899 - resent high. My chart GMT+3, reasons TC with the trend, from 365 support, tail to the 21 - well almost perfect.
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  • #12,366
  • Feb 29, 2008 1:22am Feb 29, 2008 1:22am
Quoting ira
I'm glad to see that people are making money, keep the good work up and make Phillip to be proud of his students .
Hookem28, I'm not Ryan and that's not my style, all I want to say - consentrate on the TC. Don't worry the market is here and won't go anywhere , and belive me you'll make planty of pips only on TC. And better don't trust me, do some backtesting. (Donna, I keep repeating it like you always do )

Could I have missed the TC on G/U yesterday? No way, I was waiting for it and prepared. Look at my charts, E/U didn't give me a chance to enter, but there was a nice TC on G/U, so I entered at the close of the candle. There is always a chance, even if you watch only 3 pairs. Sorry for not posting this trade yesterday, I was recieving some guests.
OK, here are some details: enter 1.9868 1 mini lot and one pending order in case price would retrace to the 38 Fib level (that could give me a chance for very small SL). Pending order didn't trigger, although the price has touched this level, I always forget that when you use buy limit you have to include spread as we see on the graph bit line and we buy in ask. SL 1.9834 TP 1.9899 - resent high. My chart GMT+3, reasons TC with the trend, from 365 support, tail to the 21 - well almost perfect.
Nice trade Ira!

freddi
  • #12,367
  • Feb 29, 2008 1:53am Feb 29, 2008 1:53am
long GBP 1.9898
SL 1.9850
50% TP 1.9960, the rest BE
  • #12,368
  • Edited 2:34am Feb 29, 2008 2:04am | Edited 2:34am
hi palmer
look at the blue channel .i think ur right if u wanna close ur position if it closes below 8ema at H4
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  • #12,369
  • Feb 29, 2008 2:16am Feb 29, 2008 2:16am
Quoting aihua5
Phillip,
I remembered you would not take this kind of trade if the SL > 50 and R:R < 1: 0.9.
But in your this trade, SL=60, R:R = 60:44 =1:0.73, it seems that you did not use "large candle entry spread" strategy for the trade entry yet.

Do you have changed the SL & RR rules in the strategy?
Sorry for my question.

Cheers
Aihua
i have the same question ,please
  • #12,370
  • Feb 29, 2008 2:50am Feb 29, 2008 2:50am
Quoting Borism
long GBP 1.9898
SL 1.9850
50% TP 1.9960, the rest BE
Just be careful, there is strong resistance at 1.9928, look how price failed to close above it yesterday. And there are many tails through that level. I would like to see close above that level to go long. But only your plan matters !
Attached Image
  • #12,371
  • Feb 29, 2008 3:43am Feb 29, 2008 3:43am
Quoting ira
Just be careful, there is strong resistance at 1.9928, look how price failed to close above it yesterday. And there are many tails through that level. I would like to see close above that level to go long. But only your plan matters !
You were right.
Another lesson I learned which costed me -45 pips

( kicking myself for that http://www.forexfactory.com/images/icons/icon8.gif)
Will pay more attention to this kind of info in the future.
Thank you for your point of view
  • #12,372
  • Feb 29, 2008 3:46am Feb 29, 2008 3:46am
Hi
a little offtopic
is anyone else experiencing problems with oanda server?

Regards,
B
  • #12,373
  • Feb 29, 2008 5:28am Feb 29, 2008 5:28am
Hi All,

Million thanks for those done the great job to copy write down the mp3.
It is very helpful
Is there have a write copy for L4 Price Motion 2 on P290 Post4340?

Hi Morelands,

Million thanks for your advise. Will keep it note in the future.


Million thanks
Kim
  • #12,374
  • Feb 29, 2008 6:07am Feb 29, 2008 6:07am
There was a TC on E/U this morning off the 8 but the candle was quite large so I got in on 50% retrace. I placed stop just below the 8 and it go hit a couple of hours later for -25 pips.

The big down point I can see in the trade setup is that the 4H was very overbought above the 45 on the MACD.
  • #12,375
  • Edited 7:16am Feb 29, 2008 6:42am | Edited 7:16am
Buy usdchf @ 1.0464, SL @ 1.0424, 20 BE, TP @1.0513
Reason: CT, oversold, may be pullbacked to 8ema, 1H long tail hammer.

Edit1: Set BE @1.0466

Edit2: Go to sleep, so closed the position @ 1.0469, +5 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfh4.gif Size: 78 KB
Rhythm, Motion, Emotion and Risk Reward.
  • #12,376
  • Feb 29, 2008 7:03am Feb 29, 2008 7:03am
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 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
Hello friends,
We had the same sitiuation as yesterday for E/u.Bounce off 8 with a nice bullish candle and retracement but it didn't workout.

Anybody knows what was the difference,Please?

Regards
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 20 KB
Failure, is a wonderful teacher!
  • #12,377
  • Feb 29, 2008 7:57am Feb 29, 2008 7:57am
Quoting mike1349
Hello friends,
We had the same sitiuation as yesterday for E/u.Bounce off 8 with a nice bullish candle and retracement but it didn't workout.

Anybody knows what was the difference,Please?

Regards
Mike
hi
i think price is know near the top weekly channel and dangerous for buy .see my previous page's post
  • #12,378
  • Feb 29, 2008 7:59am Feb 29, 2008 7:59am
Maybe OldDog can find it. But it's hard some weeks for us to keep up with the daily's. This post is far to big to support translation request going back in time. Most of us have jobs and kids (I have 4). Kids that is, one job is enough....




Quoting kim
Hi All,

Million thanks for those done the great job to copy write down the mp3.
It is very helpful
Is there have a write copy for L4 Price Motion 2 on P290 Post4340?

Hi Morelands,

Million thanks for your advise. Will keep it note in the future.


Million thanks
Kim
  • #12,379
  • Feb 29, 2008 8:09am Feb 29, 2008 8:09am
Quoting mike1349
Hello friends,
We had the same sitiuation as yesterday for E/u.Bounce off 8 with a nice bullish candle and retracement but it didn't workout.

Anybody knows what was the difference,Please?

Regards
Mike
I was also hoping to catch a TC on the EUR today - but the corrective cycle is not complete yet.

Yesterdays stop was to big for me and a pullback never came for me to get in.

But look at the turn yesterday it was very pretty and tight with perfect support candles on either side of the tail - todays was ugly. I waited for a pullback but price failed to hold the 62% fib level. I would of entered if price held the swing short or 62% fib and a 1H closed above the 38% or swing long fib of that minor swing.
Attached Image (click to enlarge)
Click to Enlarge Name: 1h.gif Size: 28 KB
  • #12,380
  • Feb 29, 2008 8:17am Feb 29, 2008 8:17am
Quoting kim
Is there have a write copy for L4 Price Motion 2 on P290 Post4340?
http://forexfactory.com/showpost.php...postcount=9654
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