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4 Hour Strategy (MACD)

  • #14,421
  • May 7, 2008 3:57am May 7, 2008 3:57am
Kylekim; The pleasures mine.

Trade well.
  • #14,422
  • May 7, 2008 4:01am May 7, 2008 4:01am
napeharm

Entry signal
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  • #14,423
  • May 7, 2008 4:10am May 7, 2008 4:10am
We are using the macd as a final trigger for the trade, not trading from it. We are reading the rhythm of the market and its context etc. There is no entry using the macd just because it has a lower high etc, if that is what you have done here.
  • #14,424
  • May 7, 2008 4:23am May 7, 2008 4:23am
Quoting lemyx
napeharm

Entry signal
Lemyx, I don't trade E/J but let me give my point of view. We are below 89, so in a down trend, and you waited for trend continuation. But, is there really a trend? The price is playing around 89, so it's range and trading is risky untill you can't establish the boundaries of the range. There is no direction in price at the moment, then look at the MA's the are interlaced and pointing up, so if you wanted to trade down move you had better waited for rhythm, price pulling out of the 21 or 8 EMA. I agree with napeharm, there was no trade.
  • #14,425
  • May 7, 2008 4:36am May 7, 2008 4:36am
I think, with respect to Lemyx, that the benefit of reading this massive thread, is that the way you may wish to trade can be comared as you read, with the entires of other people on the thread. That way when you get to the end and begin posting much of this stuff is covered and your mind is moulded into the system methodology. That is the reason for reading the thread. For other methods and threads this might not be so, but here it is essential.
  • #14,426
  • May 7, 2008 4:36am May 7, 2008 4:36am
napeharm and ira

thank you!
  • #14,427
  • May 7, 2008 4:38am May 7, 2008 4:38am
Your welcome,there is soooooo much homework to be done here, in your own time. But, we have all done it, and you will reap the rewards. That is beyond doubt. Good luck.
  • #14,428
  • May 7, 2008 4:40am May 7, 2008 4:40am
The Euro has made a small bounce off..........you guessed it!, the low of the previous day!.
  • #14,429
  • Edited 4:41am May 7, 2008 4:40am | Edited 4:41am
Someone give me a punch, the market is so kind, giving wonderful possibilities and I'm sitting on the sidelines. You can wait for such signals for weeks, and here they are, several in a row!!! It seems that I'm looking for reasons not to trade, for example I didn't take G/U because daily looks ugly, there was support and price level ahead, and I didn't like the price moves prior to the signal, but TC was there bagging me to take. Why I can't pull the trigger? Has anyone got a red pill ???
  • #14,430
  • May 7, 2008 4:43am May 7, 2008 4:43am
EurUsd pulled back to breakout level and then move down with nice bearish candle and TC on 1H. Typical of the rhythm that was taught. A bit advanced but it was there. Target reached(closest low as target).
+30pip
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  • #14,431
  • May 7, 2008 4:44am May 7, 2008 4:44am
Your sooooooo sweet Ira!...........i'll punch you any time!
  • #14,432
  • May 7, 2008 4:45am May 7, 2008 4:45am
Yup, i saw that too, but felt it was abit marginal and i was late to it.Nice one.
  • #14,433
  • May 7, 2008 4:47am May 7, 2008 4:47am
Euro.
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  • #14,434
  • May 7, 2008 4:49am May 7, 2008 4:49am
Quoting lemyx
napeharm, thanks for your answer!

One more question.

I SOLD after the MACD signal and there were no any important levels below entry point. So, could we somehow filter this signal?

Should I enter in the opposite direction (or close opened positions) if the price will stay in place (because here will be a new signal)?

Thanks.
Have a look at the trendlines drawn to represent the rhythm and see why a short was not on. a Long after the pullback was the deal
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  • #14,435
  • May 7, 2008 4:49am May 7, 2008 4:49am
Lovely pin off that trendline yesterday also........only going one way.
  • #14,436
  • May 7, 2008 4:57am May 7, 2008 4:57am
Quoting Phillip Nel
EurUsd pulled back to breakout level and then move down with nice bearish candle and TC on 1H. Typical of the rhythm that was taught. A bit advanced but it was there. Target reached(closest low as target).
+30pip
I was watching this exact setup but looking for a TC off the 365. If the 1H trend line down had broken I would have taken a long. As it was it held further justifying the short. I didn't take it because I saw it limited by the 365 which is just below and I felt the risk was higher than I wanted. I have yet to make a trade in May and I am being very very select as to which ones I want to take.
  • #14,437
  • May 7, 2008 5:04am May 7, 2008 5:04am
I took that TC short at 1.5451 exiting 1.5436 +15 and out in less than 1 minute. Too tired to keep it today and +45 for the day.
  • #14,438
  • May 7, 2008 5:09am May 7, 2008 5:09am
Quoting brettboz
I was watching this exact setup but looking for a TC off the 365. If the 1H trend line down had broken I would have taken a long. As it was it held further justifying the short. I didn't take it because I saw it limited by the 365 which is just below and I felt the risk was higher than I wanted. I have yet to make a trade in May and I am being very very select as to which ones I want to take.
Good anticipation. The 365 I felt was not going to be of importance as there was some other supp and res lines and MA's closeby. It worked out for me.
  • #14,439
  • May 7, 2008 5:11am May 7, 2008 5:11am
Quoting Phillip Nel
EurUsd pulled back to breakout level and then move down with nice bearish candle and TC on 1H. Typical of the rhythm that was taught. A bit advanced but it was there. Target reached(closest low as target).
+30pip
Phillip, you are NO1. What a pity I have a conference and miss eur's entry. But if I were here, I should have not find the line you draw there and can't find this is fit the rhythm. You gave me another good lesson.
Plan your trades and trade your plans
  • #14,440
  • May 7, 2008 5:22am May 7, 2008 5:22am
Quoting napeharm
Your sooooooo sweet Ira!...........i'll punch you any time!
OK I asked for it, and now some advice how to pull the trigger please.
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