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4 Hour Strategy (MACD)

  • #13,481
  • Apr 7, 2008 9:23am Apr 7, 2008 9:23am
Quoting Palmer
Would somebody please press the 'Start' button to turn the markets on...
There will be much more news release tommorow, it would be the time that big guys press the 'Start' button.
Plan your trades and trade your plans
  • #13,482
  • Apr 7, 2008 9:45am Apr 7, 2008 9:45am
Quoting Nigel
Is the green line the prices cut through the 89sma? In my chart the lower wick did not go through 89sma.
yes.that is 89 sma(the green one)
  • #13,483
  • Apr 7, 2008 10:05am Apr 7, 2008 10:05am
Quoting saka
That's good but a little aggressive. As Philip's advice, one should wait both a TC formed at 4h & 1h to enter at 1h.
The TC did form on the 4H I used the 1H as early entry, when I did this the 4H was something like 8 pips from being green so I took the risk that price would make those 8 pips before the close of the 4H (which was 1 hour away at the time).

Note I did not take this based on the 1H spike, I did see it but that was too aggressive as at the time the 4H was around 38 pips from being TC.

I have now closed the last part of my trade on further failure to break the 200 so in the end I closed all 3 parts pretty much at the same level therefore taking 20 pips.
  • #13,484
  • Edited Apr 8, 2008 10:14am Apr 7, 2008 10:40am | Edited Apr 8, 2008 10:14am
I just got home and took this EurUsd trade. The better entry was the retracement entry but I wasnt live. The candle after the TC was a doji making me a bit worried. I took it on the fact that it was a TC off the 89sma and a second support on the 89sma indicated by the 2 red circles. Lets see how this one is going to work out.

Edit 1 08April2008
Closed out for +58pips
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  • #13,485
  • Edited 11:26am Apr 7, 2008 10:44am | Edited 11:26am
PAGE 900
i'll sell if it closes like this
H4 is OK
any idea please?
edit:it closed at 53 and i putt an order at 64 with 04 stoploss
edit: i deleted the order because of a H4 TL below it
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  • #13,486
  • Apr 7, 2008 1:22pm Apr 7, 2008 1:22pm
Here is how I followed the EUR this morning:

From friday's close the daily chart price bounced nicely from the 62% fib of the last daily ranging swing - price appear wanting to test the upper daily range of 5850 from that bounce.

I was expecting a pullback to the 4H 21EMA and price respecting the 62% fib level of the last 1H up swing - this would hint that price still have upward momentum. Very seldom does price go past the 62% fib of the last 1H swing if price is to continue the previous trend move.

However price failed the 62% fib level of the last 1H swing (chart below). This to me hint that price is either reversing to the downside or will range. At this point I stopped looking for long entry.

I also posted a 15M inset on how I would enter on a retrace after the 4H TC MACD - very simply I look for a 15M close that closes above the previous 4 closes and also closing above the 38% fib of the last swing. I did not take this trade because of price failing to hold Friday's 1H up swing 62% fib as stated before.
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  • #13,487
  • Apr 7, 2008 10:28pm Apr 7, 2008 10:28pm
Quoting traderathome
Manually adjusting the factor that determines the levels, by trial and error, is NOT the best solution. Code that automatically does this for each different currency pair, maybe based on the different ATRs of the pairs (and their individual timeframes) would be far better. I pray someone that codes will do this.
Your indicator is good, but could you add the figures that indicate how many pips the MACD bar will change colour, just like V104? That would be better.

And I still can't understand how to use your ma in MACD chart. Thanks
Plan your trades and trade your plans
  • #13,488
  • Edited 11:18pm Apr 7, 2008 11:00pm | Edited 11:18pm
I know I just sign up for doing the written copy of the daily wrap up on Fri, but I'm going on a golf vacation and will be in Charleston, SC that day. Would someone please do this Fri written daily wrap up?

Trade on EU
Price: 1.5755 on 50% fib retracement of break out candle
TP: 1.5792
SL: 1.5728, 68% retracement
  • #13,489
  • Apr 8, 2008 12:38am Apr 8, 2008 12:38am
Sold G/U, BOZ that is not high probability trade to my mind, but will give it a try. Enter 1.9873 1.9871 SL1 - 1.9898 SL2 - 1.9914 TP1 - 1.9848 TP2 - 1.9878

I like that it found resistance on the 89, there are two tails and bearish candle. It is also with the trend, but my consern is recent support, it's 89 on the daily and all MA's are interlaced, risky trading, will go to b/e as soon as possible.
Attached Image
  • #13,490
  • Apr 8, 2008 12:49am Apr 8, 2008 12:49am
Gu is about to form a TC both 4h and daily chart. There are 3 mainly surport lines and a daily resisitant line up there which price had tested it third time. I think this would be the chance to short GU in 15 minutes.
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Plan your trades and trade your plans
  • #13,491
  • Apr 8, 2008 12:55am Apr 8, 2008 12:55am
Quoting Morelands
I know I just sign up for doing the written copy of the daily wrap up on Fri, but I'm going on a golf vacation and will be in Charleston, SC that day. Would someone please do this Fri written daily wrap up?

Trade on EU
Price: 1.5755 on 50% fib retracement of break out candle
TP: 1.5792
SL: 1.5728, 68% retracement

I can't send you PM or e-mail, can you contact me, so I could explain to you how we are going to do the copies.
  • #13,492
  • Apr 8, 2008 1:01am Apr 8, 2008 1:01am
Quoting ira
Sold G/U, BOZ that is not high probability trade to my mind, but will give it a try. Enter 1.9873 1.9871 SL1 - 1.9898 SL2 - 1.9914 TP1 - 1.9848 TP2 - 1.9878

I like that it found resistance on the 89, there are two tails and bearish candle. It is also with the trend, but my consern is recent support, it's 89 on the daily and all MA's are interlaced, risky trading, will go to b/e as soon as possible.
Ira, you are smart than me. I only to wait to find if there will be some opportunity to short GU at 5min chart.

Here is the picture which is shown the same of daily pp's S to the line1 to 3. Technical analysis is amazing!
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Plan your trades and trade your plans
  • #13,493
  • Apr 8, 2008 1:39am Apr 8, 2008 1:39am
I enter GU trade under 4h stategy analysis, use 5min to find enter point.
Enter @ 1.9875
SL @ daily PP=1.9889
1 TP 25 pips gain
2 TP @ Daily S2= 89 ema of daily chart, a little above it, 1.9800

Hope it works
Plan your trades and trade your plans
  • #13,494
  • Apr 8, 2008 1:41am Apr 8, 2008 1:41am
See the chart of 5min, nice rhythm. When I gain pips, I set my sl a little above 21ema as a trailing stop. That's great!
Attached Image (click to enlarge)
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Plan your trades and trade your plans
  • #13,495
  • Apr 8, 2008 1:43am Apr 8, 2008 1:43am
1 tp has reached, set remain to BE
Plan your trades and trade your plans
  • #13,496
  • Apr 8, 2008 2:05am Apr 8, 2008 2:05am
2 TP has reached, nearly 40 pips gain. Due to different broker. Thanks for Philip's stategies. A good afternoon.
Plan your trades and trade your plans
  • #13,497
  • Apr 8, 2008 2:31am Apr 8, 2008 2:31am
Quoting ira
I can't send you PM or e-mail, can you contact me, so I could explain to you how we are going to do the copies.
. I changed my options and you should be able to send me a private message now. Nice trade!
Raymond
  • #13,498
  • Apr 8, 2008 3:00am Apr 8, 2008 3:00am
Nice trading Saka

2 TP has reached, nearly 40 pips gain. Due to different broker. Thanks for Philip's stategies. A good afternoon. Today 1:43am
  • #13,499
  • Apr 8, 2008 3:12am Apr 8, 2008 3:12am
I was gonna take the G/U trade as well, but was worried about all the ma's bunched up together. But there was still room to the trendline and a nice macd signal. Nice trade Ira and Saka!! You guys have good feel about the market!
  • #13,500
  • Apr 8, 2008 3:19am Apr 8, 2008 3:19am
Quoting kylekim
I was gonna take the G/U trade as well, but was worried about all the ma's bunched up together. But there was still room to the trendline and a nice macd signal. Nice trade Ira and Saka!! You guys have good feel about the market!
According to tradtional analysis, Gu has formed a downward triangle, it has high probability to crack the horizontal surport line to go down. Resistant line has been tested third time, this is the opportunity to short
Plan your trades and trade your plans
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