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4 Hour Strategy (MACD)

  • #15,001
  • May 21, 2008 10:34am May 21, 2008 10:34am
Quoting Phillip Nel
Sorry for being late. Picked up some flue.

GbpUsd have moved between 200 and 89. Watch 89 at 1.9600 for poss. TC

EurUsd
It might ignore the 200 as the upper TL is now the main. The 21ema is the next target for a poss. TC if TC is not given at 8ema currently there.

Lets see how this works out

PAGE 1000
Thanks for all the people making this possible. Will start with Mp3 tommorrow again.

Phillip get well soon!!! If I understood you correctly you were on holidays, and spending your time here with us! Thank you .
  • #15,002
  • May 21, 2008 11:02am May 21, 2008 11:02am
congrats and well done everyone!!
  • #15,003
  • May 21, 2008 11:29am May 21, 2008 11:29am
Quoting vette1974
I had my SL too close on the Euro trade this morning I got stopped out by 6 pips, I need to keep my gaps a little bigger and give it some room. I knew what direction it was going. As Phillip would say it wasn't a doubt in my mind.

Hello vette1974,

If you really do have a 74 vette, I envy you. And, if it's a stingray I even envy more! Just curious where your entry and stop were placed? I mean I know where you got stopped out, but was it because your entry was to early at the top of the consolidation? And, your R/R didn't allow for a wider stop? I know the feeling of getting stopped out by only a few pips, and watching the market shoot up/down in the anticipated direction. This happened to me not that long ago, just at the beginning of the month, by one measly pip! Ouch! This time I was better prepared and had my stop at 1.5619, below the consolidation and the 8EMA.
  • #15,004
  • May 21, 2008 11:46am May 21, 2008 11:46am
Quoting Nipper
Hello vette1974,

If you really do have a 74 vette, I envy you. And, if it's a stingray I even envy more! Just curious where your entry and stop were placed? I mean I know where you got stopped out, but was it because your entry was to early at the top of the consolidation? And, your R/R didn't allow for a wider stop? I know the feeling of getting stopped out by only a few pips, and watching the market shoot up/down in the anticipated direction. This happened to me not that long ago, just at the beginning of the month, by one measly pip! Ouch! This time I was better prepared and had my stop at 1.5619, below the consolidation and the 8EMA.
Yea, I have my corvette sitting in my garage unfortunately it just sits there and I work on my boat a lot. I entered at 1.5675 so I had room for more of a stop I just didn't utilize it. I felt like my entry was right I just need to quit being so conservative with the stops it is a fine line.
  • #15,005
  • May 21, 2008 12:34pm May 21, 2008 12:34pm
I am also long on the GBPUSD now. Price came back to the 89/21 level and when I switched to the 1hr there was a nice green bar telling me to buy at 1.9664. I have reached TP1 for +20 already and moved my SL up my 2nd stop will be the 200.
  • #15,006
  • May 21, 2008 1:54pm May 21, 2008 1:54pm
Quoting vette1974
I am also long on the GBPUSD now. Price came back to the 89/21 level and when I switched to the 1hr there was a nice green bar telling me to buy at 1.9664. I have reached TP1 for +20 already and moved my SL up my 2nd stop will be the 200.
Looks like your TP 200SMA was hit at 1.9698. Nice pips! That purple trendline just above the 200 seems to be like a brick wall!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_MAY_21_2008_1HR_1A.GIF Size: 13 KB
  • #15,007
  • May 21, 2008 2:08pm May 21, 2008 2:08pm
Hi all

I would like to know how to setup MACD (5,13,1) with the lines colored green for bullish & red for bearish.

Thanks a lot in advance
  • #15,008
  • May 21, 2008 2:12pm May 21, 2008 2:12pm
Quoting bee_girl85
Hi all

I would like to know how to setup MACD (5,13,1) with the lines colored green for bullish & red for bearish.

Thanks a lot in advance
You need an indicator. Go to http://www.fxtradeblog.com/ the method, method tools, you'll find it there and many other very useful info.
  • #15,009
  • May 21, 2008 2:51pm May 21, 2008 2:51pm
hi,

Thanks a lot for yuor reply and help....im wondering how this metaeditor works....i have no idea how i can use them...
  • #15,010
  • May 22, 2008 12:33am May 22, 2008 12:33am
Hi all
I am sorry I won't be able to post chart. My server is down in the office and I have rush and fix it.

Divergence on GU but resting on 200 right as a support.
Evening star on EU but also resting on trendline as a support right now.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #15,011
  • May 22, 2008 1:03am May 22, 2008 1:03am
EurUsd
Evening star on EurUsd. If price goes below 8ema the chance is good that it will go to the 21ema. Possible 15-20pips to be made there on shorter timeframe.

GbpUsd
Support on 200sma. Wait for TC.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 22 KB
  • #15,012
  • May 22, 2008 1:11am May 22, 2008 1:11am
Hi Phillip,

Would you take a TC on GBP/USD if one came of 200SMA, given that 365EMA is just above?

Quoting Phillip Nel
EurUsd
Evening star on EurUsd. If price goes below 8ema the chance is good that it will go to the 21ema. Possible 15-20pips to be made there on shorter timeframe.

GbpUsd
Support on 200sma. Wait for TC.
  • #15,013
  • May 22, 2008 1:13am May 22, 2008 1:13am
Quoting ejiexe
Hi all
I am sorry I won't be able to post chart. My server is down in the office and I have rush and fix it.

Divergence on GU but resting on 200 right as a support.
Evening star on EU but also resting on trendline as a support right now.

You are right, I'm waiting for TC's here. I have noticed that yesterday swing on € was almost the same, as to the amount of pips as, the day before yesterday, interesting will we have one more up swing on € or there will be a correction?
Now price sits also on the 161 Fib of the swing the day before yesterday. It would be nice if price moves to the 161 of yesterday swing, but there is IT ahead.
Attached Images
  • #15,014
  • May 22, 2008 1:21am May 22, 2008 1:21am
What do you think about the following?

GBPUSD

- Weekly - after breaking down the triangle on 07/05/08 and SMA89 down failed to break level ~1.9390 at the prev. low and now retraced to the broken lower border of the triangle and close to SMA89. Downtrend; round or agressive bottom on MACD is forming but may also give a bullish TC - may bounce down from about SMA89 but still in this scenario may go up to 1.98;

- Daily - downtrend, after crossing SMA89 and lower triangle border down stopped at the prev. low and then retraced to the broken triangle border, close to SMA89 and EMA365; has not found resistance at EMA21 which is a "pro" for bullish scenario, but still - may bounce down from triangle broken border and SMA89 (has space to 1.9770 to go up);

- 4H - uptrend, after crossing SMA89 up made a retracement to SMA89-EMA21 and a new impulse up, crossed SMA200 which may act as support. Close to upper channel border and EMA365. New high is though higher but close to the prev. which may mean uptrend is weakening. Divergence with MACD (lower high). So - mood is bullish though may be weakening.

I didn't sell at LH at the close of 04:00 22/05/08 (GMT+1) but I think to look closer at possible turning down of this uptrend. If not only me that thinlk that this scenario can become true, a pin upwards may be formed. What would you say about such a scenario?
Attached Images
  • #15,015
  • May 22, 2008 1:33am May 22, 2008 1:33am
My Euro and GBP with trendlines.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: may22.gbp.gif Size: 26 KB
  • #15,016
  • May 22, 2008 3:49am May 22, 2008 3:49am
Seems like a 4 hour pinbar on a high for the week (1.5814). Do you think this is reversal?

I have shorted around 1.5750 and as the 4 Hour MACD is showing a downturn, maybe target the 38.2% fibonacci from the recent rally from 1.5283 to 1.5813?
  • #15,017
  • Edited 9:24am May 22, 2008 6:00am | Edited 9:24am
There is nothing like your own home. Finally arrived from holiday. Has spend the last 2 nights with my children.

GbpUsd gave a TC on 4H with a beautiful TC on 1H as well. Even if you waited till 4H candle close that tail both on 1H and 4H was a very high probability trade. 20-40 pips for sure. The pullback to top TL was another confirmation.

365ema wont bother where it is now therfore I did not mentioned it. It normally plays a part if there is no other MA's closeby.

EurUsd
I'll be looking to go short from 1.5725 on shortterm strategy with TP around the 21ema on 4H.

Edit
Just took +20 from 1.5725 to 1.5705 (Closed at 16:23)


I missed out being on the road back from holiday.
Attached Image (click to enlarge)
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  • #15,018
  • May 22, 2008 6:00am May 22, 2008 6:00am
Looks like EURUSD shows bullish rhythm now but there is a large resistance zone starting around 1.5833 level.

GDPUSD also shows bullish rhythm with big support around 1.9516. concern is if the top channel line has been breached or not, we should see if the next TC is successful.

USDCHF showing bearish rhythm, but again large support level around 1.0177.
  • #15,019
  • May 22, 2008 8:05am May 22, 2008 8:05am
That was a good trade on GBDUSD this morning. Too bad I missed it during my sleeping time.
  • #15,020
  • May 22, 2008 4:39pm May 22, 2008 4:39pm
It looks like the Euro is bouncing off the 21 I will wait and see for a little more confirmation.
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