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4 Hour Strategy (MACD)

  • #14,101
  • Apr 30, 2008 5:43am Apr 30, 2008 5:43am
long @ 1.9689
s/l @ 1.9645
MACD agressive turnaround
and bounce from trendline

targets: 8ema, trendline, 21ema
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  • #14,102
  • Apr 30, 2008 6:00am Apr 30, 2008 6:00am
Quoting islandtrader
long @ 1.9689
s/l @ 1.9645
MACD agressive turnaround
and bounce from trendline

targets: 8ema, trendline, 21ema
gu likes tails,seems it cannot goes in a direction like human without tails,thats why i hate this pair(what u say saka?)
becarefull about possible tail
Attached Image (click to enlarge)
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  • #14,103
  • Apr 30, 2008 6:07am Apr 30, 2008 6:07am
Quoting bshadroo
gu likes tails,seems it cannot goes in a direction like human without tails,thats why i hate this pair
becarefull about possible tail
yes, you are right, it's a risky entry, and my s/l is a bit too big for my targets....
nevertheless I added another position at 38.2% fib of last candle.

I'm not sure if I prefer entering 1 position at the close at last candle and adding up as price moves down, or to enter the first position on a hit of 61.8% and then building up the positions as price moves back up.
Attached Image
  • #14,104
  • Apr 30, 2008 6:15am Apr 30, 2008 6:15am
Quoting maxster
Lots of talk about the EUR TC today below is how I traded.

Don't kow if many notice it but the TC was a smaller degree swing TC. It is a trending move within a larger correction.

I only got 25 pips from it because price did not give a pullback bounce test after momentum shifted back to the downside so I waited for the previous trend swing low break before entry. I took quick 100% profit at 1.382 of previous trend move because price is moving in a smaller degree swing.

Don't have much time to post anymore due to new baby!!
Nice work! Could you share your pivot indicator, thanks.
  • #14,105
  • Apr 30, 2008 6:55am Apr 30, 2008 6:55am
Quoting islandtrader
long @ 1.9689
s/l @ 1.9645
MACD agressive turnaround
and bounce from trendline

targets: 8ema, trendline, 21ema


i have done same thing! NOW it is (~)-37 pips.
  • #14,106
  • Apr 30, 2008 7:05am Apr 30, 2008 7:05am
Quoting FJSkli
i have done same thing! NOW it is (~)-37 pips.
ok great, I feel less lonely now....

what is your entry strategy on such huge candles?
scaling in on the move down, or scaling in on the move up?

Kind regards
  • #14,107
  • Apr 30, 2008 7:08am Apr 30, 2008 7:08am
hello,
i have read through this thread,but its a 4-hr strategy,i know the strategy has gone a lot,really far i mean.but i want to ask if the 1-hr strategy of this system has been implemented.i mean,backtesting on 1-hr.or does it work for 1-hr.thanks
  • #14,108
  • Apr 30, 2008 7:14am Apr 30, 2008 7:14am
The intention of the 1hr entry is to capture a TC on the 4hr when the macd. doesnt give a green bar, for instance for going long. It is not intended as a method in its own right, it just serves the odd occasion for the 4hr entry.It is there to be used if needed and sparingly.
  • #14,109
  • Apr 30, 2008 7:15am Apr 30, 2008 7:15am
euro has given a tc on my platform on the 0800 ( interbank)candle but it is only 15 min before NEWS @ 0815 est ( adp non farm employment) so staying out.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #14,110
  • Apr 30, 2008 7:16am Apr 30, 2008 7:16am
Quoting islandtrader
ok great, I feel less lonely now....

what is your entry strategy on such huge candles?
scaling in on the move down, or scaling in on the move up?

Kind regards
i've entered on 1.9693
I thought that it was an Round Bottom, my target is 1.9710 (8Ema).
what you think, do price go up?)))
  • #14,111
  • Apr 30, 2008 7:31am Apr 30, 2008 7:31am
eurchf looks good for buy ,if H1 closes above 60 i'll buy
Attached Image (click to enlarge)
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  • #14,112
  • Apr 30, 2008 7:39am Apr 30, 2008 7:39am
Best of the retracment trades was GBPCHF. if you fancied the risk. It stopped just shy of 50% retracement and gained +117 just after the news, spiking up to the 50% from the previous day and my trendline and horizontal line. Not for me though.
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  • #14,113
  • Apr 30, 2008 7:50am Apr 30, 2008 7:50am
Today I have taken 2 EUR/USD trades when I should have only taken 1 and I should be in profit and instead Im break even. The reason is I'm getting very jumpy lately on E/U trades and seem to take the slightest hicup in price movement as an excuse to take half profit and move other half to BE. The problem is I am doing it too early and using 15 mins. I usually do this off 1H and it seems to be a good indicator of when to get out or at least to move to BE but 15 min is just too jumpy (for exits).

I have also taken CT trade on GBP/USD. This is my first CT trade for quite some time but I liked the look off this one today on GBP.
  • #14,114
  • Apr 30, 2008 8:04am Apr 30, 2008 8:04am
On Monday i showed some charts with a crazy trendline indicator, showing lines and so on all over the place. Sometimes i put this on just to see from a strictly technical/mechanical point of view where the trendlines and horizontals are. Today though i put it onto the GBPCHF 4hr and then drew trendlines and horizontal over the top, and took it off again. Neat. Judging from the price it worked as well. So what i was doing was seeing technically where everything was and then selecting the ones i hadnt thought of which seeemd relevant and removing the rest. Here is the before and after and also the indicator. If anyone is unsure where the trendlines might be or are most relevant give it a go.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: april30.chf.before.gif Size: 26 KB
Click to Enlarge Name: april30.chf..gif Size: 24 KB
Attached File(s)
File Type: mq4 WSOWROTrend.mq4   4 KB | 627 downloads
  • #14,115
  • Apr 30, 2008 8:08am Apr 30, 2008 8:08am
I missed afew trendlines from the after version......try this one.
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  • #14,116
  • Apr 30, 2008 8:10am Apr 30, 2008 8:10am
Quoting napeharm
On Monday i showed some charts with a crazy trendline indicator, showing lines and so on all over the place. Sometimes i put this on just to see from a strictly technical/mechanical point of view where the trendlines and horizontals are. Today though i put it onto the GBPCHF 4hr and then drew trendlines and horizontal over the top, and took it off again. Neat. Judging from the price it worked as well. So what i was doing was seeing technically where everything was and then selecting the ones i hadnt thought of which seeemd relevant and removing the rest. Here is the before and after and also the indicator. If anyone is unsure where the trendlines might be or are most relevant give it a go.
that's interesting, thanks napeharm, will try it and play around with the trendlines.
I'm often surprised that even though I thought that I got most major trendlines and S/R, that there are some obvious ones I missed....
  • #14,117
  • Apr 30, 2008 8:13am Apr 30, 2008 8:13am
Your welcome, it proved useful on the GBPCHF this morning. An ability to select the likely supsects is still required but gives more ideas for trendlines as well as horizontals. Those which appear to collude might be given more weight, or crosses of lines, groups of lines etc. I forgot to mention the setting. 9, i find is too fast for it, but play around. The one i am looking at is around 35.
  • #14,118
  • Edited 8:46am Apr 30, 2008 8:33am | Edited 8:46am
I usually don't trade CT - but lately I been passing many real good GBP CTs - so I took this one and made a quick 33 pips. Because this is a CT trade I took all profit at first profit target.

The price swing movement was beautiful.
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  • #14,119
  • Apr 30, 2008 8:42am Apr 30, 2008 8:42am
GBP/USD
took profit on 2nd entry as it moved up to 1st entry level (+20 pips)
and moved the stop loss of remaining position to -20 pips for a free ride.
Next target got it at 1.9712 (+20 pips) as I couldn't watch that trade and let the profits run.
+20 pips total
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  • #14,120
  • Apr 30, 2008 8:47am Apr 30, 2008 8:47am
Quoting maxster
I usually don't trade CT - but lately I being passing many real good GBP CTs - so I took this one and made a quick 33 pips. Because this is a CT trade I took all profit at first profit target.

The price swing movement was beautiful.
maxster your method to time entries seems great, I read your posts with great interest and learning, although I don't try to copy it yet, I feel that I could get burned easily.
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