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4 Hour Strategy (MACD)

  • #13,261
  • Mar 31, 2008 3:52am Mar 31, 2008 3:52am
Im watching G/U on the 4H we have had a TC off the 8 and it also closed below the 200. However there is still the supporting trend line right below price.

Also the candle was big so I wouldnt just take the TC as it was. I was looking at a possible retrace back to 9900 and then short there but with the supporting trend line being first TP. But Im worried that if price does go back to 9900 off the supporting trend line it could be that it is not just retracing the 4H candle (meaning the TC is fake) and price moves much further up.

Thoughts?
  • #13,262
  • Mar 31, 2008 5:03am Mar 31, 2008 5:03am
Just like what palmer has analysed that GU will form a TC, but at enter time, I find that the sl is a little too big for me. One think I am sure is that gbp will fall. And another thing I am sure is that UJ will fall to fill the gap formed at open of the market today.

And what is very good is that GJ is resistanted by 89sma and is about to form a TC. Even 1h entry the sl is too big for me. I decided to trade 5min, and quit when uj have filled its gap at the moment.

PS: I find that jpy dominates gj, even gu has falled a lot pips but gj only a little if uj is not move. And if uj is move a little, a larget distance will be formed of gj. So if you want to trade this cross, you should pay more attention to uj's trend!
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Plan your trades and trade your plans
  • #13,263
  • Mar 31, 2008 5:06am Mar 31, 2008 5:06am
Quoting brettboz
Im watching G/U on the 4H we have had a TC off the 8 and it also closed below the 200. However there is still the supporting trend line right below price.

Also the candle was big so I wouldnt just take the TC as it was. I was looking at a possible retrace back to 9900 and then short there but with the supporting trend line being first TP. But Im worried that if price does go back to 9900 off the supporting trend line it could be that it is not just retracing the 4H candle (meaning the TC is fake) and price moves much further up.

Thoughts?
On the 1H we now have a nice morning star formed right on the support line. But again I am very unsure on taking this. 4H is MACD is currently down but it could easily change here. The 1H price channel is narrow, there is little room to move and there are MA's all over the place inside this channel (not to mention the 200 just above on the 4h).
  • #13,264
  • Mar 31, 2008 5:10am Mar 31, 2008 5:10am
Because I am at working time, I am only able to write at end of my work. This is my trade today.

I use only half of my position

GJ
Enter @ 198.60 (nearly daily pp)
SL @ 190.00
TP @ 197.51

I am not use MIG as my broker, they are just approximately figures.
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Plan your trades and trade your plans
  • #13,265
  • Edited 5:48am Mar 31, 2008 5:28am | Edited 5:48am
i was sold at 9932

i sold it because trend contunious, so was i make a mistake step ?

here the pic

http://img241.imageshack.us/my.php?i...adadadakc4.gif
  • #13,266
  • Mar 31, 2008 7:01am Mar 31, 2008 7:01am
Quoting saka
Because I am at working time, I am only able to write at end of my work. This is my trade today.

I use only half of my position

GJ
Enter @ 198.60 (nearly daily pp)
SL @ 190.00
TP @ 197.51

I am not use MIG as my broker, they are just approximately figures.
Nice trade saka. Good way to start off the week.

Sleep is over rated. I read an article where there is a study being done where the 'subjects' were taking 20 minute naps every 4 hours and they eventually did not need to 'go to bed'. The long term affects are unknown though...sign me up.
  • #13,267
  • Mar 31, 2008 7:12am Mar 31, 2008 7:12am
This snake has got to get moving at some point...
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  • #13,268
  • Edited 9:35am Mar 31, 2008 7:19am | Edited 9:35am
sold usdchf st 9936
sl :9980
tp:9890
edit : out +40
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  • #13,269
  • Mar 31, 2008 7:43am Mar 31, 2008 7:43am
Quoting Palmer
This snake has got to get moving at some point...
hehe,,, yeah,,,

you're the real phillip's assistant,, palmer,,,
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  • #13,270
  • Mar 31, 2008 8:07am Mar 31, 2008 8:07am
Quoting hyiperz
hehe,,, yeah,,,

you're the real phillip's assistant,, palmer,,,
I just think of this as 'continuing education'....
  • #13,271
  • Mar 31, 2008 9:06am Mar 31, 2008 9:06am
Quoting Palmer
This snake has got to get moving at some point...
It's making its move , big one hour candle. Im going to wait for the close of the hour to decide what to do.
  • #13,272
  • Mar 31, 2008 9:26am Mar 31, 2008 9:26am
big move on USD CHF fuihhh its third time i used 4 Hour MACD
  • #13,273
  • Mar 31, 2008 9:31am Mar 31, 2008 9:31am
Quoting brettboz
It's making its move , big one hour candle. Im going to wait for the close of the hour to decide what to do.
I'm in per a 5min method but at the close of the 1hr I will put in a buy limit order for a possible retrace. If the 1hr is too long then I'll wait for the 4hr to settle in...
  • #13,274
  • Mar 31, 2008 9:57am Mar 31, 2008 9:57am
Does anyone use pending order for retracement entering? How about the result?

Macalmd
  • #13,275
  • Mar 31, 2008 10:03am Mar 31, 2008 10:03am
Quoting Palmer
I'm in per a 5min method but at the close of the 1hr I will put in a buy limit order for a possible retrace. If the 1hr is too long then I'll wait for the 4hr to settle in...
What a huge candle and what a huge spike. Ugly as hell. GBP also did the same and moved right back into its price channel.

As its late in the day for me (I don't particularly like taking trades later than 4pm UK time) and the candles look so ugly I will sit out.
  • #13,276
  • Mar 31, 2008 10:06am Mar 31, 2008 10:06am
now what u say palmer? is it breaks up ?
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  • #13,277
  • Mar 31, 2008 10:07am Mar 31, 2008 10:07am
Quoting macalmd
Does anyone use pending order for retracement entering? How about the result?

Macalmd

You mean a buy limit order? Yes, I do. This may have been a false breakout on the EU. My thoughts have changed now because price came right back down. If the upper resistance line turns into support, with the close of THIS 1hr candle closing above the resistance line, I'll consider a long. The retracement long entry per the previous post is off the table now because of the probable false breakout...
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  • #13,278
  • Mar 31, 2008 10:32am Mar 31, 2008 10:32am
Quoting macalmd
Does anyone use pending order for retracement entering? How about the result?

Macalmd
do you mean this?
I entered at 0.9944 and I have covered my trade

Phillip taught several times before in Large Candle Entry,
you could go previous post for it.

dhalsim
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Success is the small sum of efforts, repeated day in and day out.
  • #13,279
  • Edited Apr 1, 2008 10:07am Mar 31, 2008 10:53am | Edited Apr 1, 2008 10:07am
I took this trade purely based on that tail above resistance. Which is part of the 4H MACD Rhythm. Tails have been delt with throughout. It depends where they occur. this one was a must. 21Ema will be watched closely. Then 89sma.

Edit 1
Allready 50% closed for +20 and set remainder to -20 to break even at worst.

Edit 2
Set remainder to BE 1.5815

Edit 3
Closed remainder for +230pips
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  • #13,280
  • Mar 31, 2008 11:04am Mar 31, 2008 11:04am
Quoting Phillip Nel
I took this trade purely based on that tail above resistance. Which is part of the 4H MACD Rhythm. Tails have been delt with throughout. It depends where they occur. this one was a must. 21Ema will be watched closely. Then 89sma.

Edit 1
Allready 50% closed for +20 and set remainder to -20 to break even at worst.
hi, Phillip
glad to see you, for me it is a habit that I listened your mp3 before sleep

you said that tail is part of 4H MACD Rhythm,
but I could not find a mp3 that focus on tails,
could you give me a mp3 and tell me how you see the tails in terms of Rhythm?

thanks!

Dhalsim
Success is the small sum of efforts, repeated day in and day out.
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