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4 Hour Strategy (MACD)

  • #15,041
  • Edited 9:15am May 23, 2008 5:35am | Edited 9:15am
Hello everyone!

USDCHF - Short
Looks like there is TC, shooting star and bounce from 200SMA on 4H.

Entry:1.0285
Sl:1.0329
TP:1.0231
R:R ok.

I’ll watch it closely and probably close half lot after 25pips.

Edit 1
50% closes after +25pips. SL to BE.

Edit 2
Remainder closed out at 1,0256.

Total gain 25+29=54/2 +27pips
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.GIF Size: 40 KB
  • #15,042
  • May 23, 2008 6:08am May 23, 2008 6:08am
Quoting Adonis
Hello everyone!

USDCHF - Short

Looks like there is TC, shooting star and bounce from 200SMA on 4H.

Entry:1.0285
Sl:1.0329
TP:1.0231
R:R ok.

I’ll watch it closely and probably close half lot after 25pips.
That is a very good TC signal. twice the 21ema was tested with those tails. Good TP target as well.

Lets see how it works out.
  • #15,043
  • May 23, 2008 7:33am May 23, 2008 7:33am
I took an early entry on G/U on the TC off the 8. This entry was 1 hour before the 4H closed and it looked like it was going to close green off the 8 and it did.

I have now closed half the position at 20 pips because its also in proximity to the trend line down on the 4H and I worry this could act as resistance. Also I have an order in for E/U buy on the retrace back down to break out and this would be too much risk without having the G/U trade locked in profit - B/E.
  • #15,044
  • May 23, 2008 7:51am May 23, 2008 7:51am
Quoting brettboz
I took an early entry on G/U on the TC off the 8. This entry was 1 hour before the 4H closed and it looked like it was going to close green off the 8 and it did.

I have now closed half the position at 20 pips because its also in proximity to the trend line down on the 4H and I worry this could act as resistance. Also I have an order in for E/U buy on the retrace back down to break out and this would be too much risk without having the G/U trade locked in profit - B/E.
In the end I didn't need the extra caution the trade hit its original TP with no problems.

I am still considering the long E/U on a retrace after the TC there but as we are coming into the weekend and I already had a good trade today I am beginning to go off the idea...
  • #15,045
  • Edited 8:08am May 23, 2008 7:53am | Edited 8:08am
i didnt wait for H4 close candle and entered based on H1hope it works,i had another buy at 40 wich i closed it for +10 to reduce my loss if it turnes against me(based on M5 system)
edit: closed +18pips ,waiting for H4 TC signal
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 20 KB
  • #15,046
  • Edited 8:57am May 23, 2008 7:57am | Edited 8:57am
Rhythm for USDCAD is also bearish, looks like there is a good chance for a TC signal to appear in next hour on the 4hr chart. Risk is low, 20 pips? Take profit after 34 pips?

Support starts at 0.9820, but is quite deep to about 0.9755. Might look for a trend turning point or a long entry back to 21 MA in this zone.

Edit: With the 4hr candle complete now: Risk is not 20 pips anymore, more like 45 pips.
  • #15,047
  • May 23, 2008 8:05am May 23, 2008 8:05am
Quoting bshadroo
i didnt wait for H4 close candle and entered based on H1hope it works,i had another buy at 40 wich i closed it for +10 to reduce my loss if it turnes against me(based on M5 system)
I didn't take this because the stop is too large, I had an order to go long on the retrace back to the point where it made the break, but I have now removed my order as I don't really want to open any trades just before the weekend.
  • #15,048
  • May 23, 2008 8:09am May 23, 2008 8:09am
Short time frames order of the day for me. 5mins charts, +25 from the Euro earlier, +10 just from the GBP and only +5 from the USDCHF, abit disappointed in that one, i was +25 once as well, it just wouldnt run. Aaahhhhh well, +40 for the day which will have to do. Short trades though.
  • #15,049
  • Edited 8:46am May 23, 2008 8:23am | Edited 8:46am
Here is my GbpUsd trade for the day as discussed in this morning 08:00 message. Waited for the price to go above the 20:00 candle high. 1H did give ZB and not TC which is still fine. The previouse candle was a doji with a nice tail indicating upmove also.

Entered 1.9823
SL 1.9786
TP 1.9886(just by feeling)

Edit 1
50% Closed for +20
Remainder set to BE

Edit 2
Remainder taken out at BE

Average gain +10pips.

That was hard work on a Friday for 10pips on a 4hour system.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy 1.gif Size: 24 KB
  • #15,050
  • May 23, 2008 8:31am May 23, 2008 8:31am
Phillip,
I am in the same trade I just entered a few pips later I am out for +20 on the 1st lot. Thanks for all your help my confidence in trading has really grown in the past few months.

Jason
  • #15,051
  • May 23, 2008 9:04am May 23, 2008 9:04am
I think , the Cable will fall to daily Ma89 Ma100....

on 1h we have 2 doji and overbouth stochastic

and double top ...

i will enter short if it touch again the 1.9850

best regards

FXP



Quoting Phillip Nel
Here is my GbpUsd trade for the day as discussed in this morning 08:00 message. Waited for the price to go above the 20:00 candle high. 1H did give ZB and not TC which is still fine. The previouse candle was a doji with a nice tail indicating upmove also.

Entered 1.9823
SL 1.9786
TP 1.9886(just by feeling)

Edit 1
50% Closed for +20
Remainder set to BE

Edit 2
Remainder taken out at BE

Average gain +10pips.

That was hard work on a Friday for 10pips on a 4hour system.
  • #15,052
  • May 23, 2008 9:07am May 23, 2008 9:07am
now im planning to enter around 5740
  • #15,053
  • Edited 10:51am May 23, 2008 9:12am | Edited 10:51am
I know it is Friday afternoon late but I am going to believe the system.

EurUsd gave TC after a red hammer off the 21ema.

Entered 1.5758
SL 1.8718
TP 1.5856 but I will watch the closeby high at 1.5811. Will tighten stop around the 1.5790 area if it goes that far tonight otherwise I will close out after 20:00

Edit
Just saw that it is holiday in USD on Monday. So we might see some profit taking after this week movements. If so I will scale out on my stoploss by closing 50% after -25 pips and the remainder after -40pips. I will also put trailing stop of 15 on full position as I want to close the position tonight.

Time will also play a roll in my decision. If the price does not reach +15 in the next hour and ten minutes I will consider closing the deal and take what is on the table at that stage. I add the 10minutes because sometimes price started to move after a next hour arrives. I will also consider closing it if it goes the other way. Just some money management to make my loss as small as possible.

Edit 2
GbpUsd has allready started to fall. Will monitor my position very closely.

Edit 3
Price moved +15 so I am BE.

Edit 4
4th Time 1.5775 is under attack. Lets see if it holds

Edit 5
50% closed after 20pips and remainder set to 20trailing stop.

Edit 6
1.5793 reached and starting to retrace a little. Trailingstop at 1.5773. Will see if 1.5793 will be tested again and if 1.5800 is going to hold. Will move my stop to 1.5785 if 1.5800 is going to be reached.

Edit 7
Remainder closed out at 1.5773 by trailing stop

Average gain (20)+(15)=35/2 = 17,5pips
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 22 KB
  • #15,054
  • May 23, 2008 9:23am May 23, 2008 9:23am
Quoting Phillip Nel
I know it is Friday afternoon late but I am going to believe the system.

EurUsd gave TC after a red hammer off the 21ema.

Entered 1.5758
SL 1.8718
TP 1.5856 but I will watch the closeby high at 1.5811. Will tighten stop around the 1.5790 area if it goes that far tonight otherwise I will close out after 20:00

Edit
Just saw that it is holiday in USD on Monday. So we might see some profit taking after this week movements. If so I will scale out on my stoploss by closing 50% after -25 pips and the remainder after -40pips. I will also put trailing stop of 15 on full position as I want to close the position tonight.

Time will also play a roll in my decision. If the price does not reach +15 in the next hour and ten minutes I will consider closing the deal and take what is on the table at that stage. I add the 10minutes because sometimes price started to move after a next hour arrives. I will also consider closing it if it goes the other way. Just some money management to make my loss as small as possible.

Edit 2
GbpUsd has allready started to fall. Will monitor my position very closely.
It is spring bank holiday in the UK on Monday also...............
  • #15,055
  • Edited 9:51am May 23, 2008 9:33am | Edited 9:51am
Quoting napeharm
It is spring bank holiday in the UK on Monday also...............
Now I will watch even closer.

Got to BE after 15pip move.
  • #15,056
  • May 23, 2008 9:52am May 23, 2008 9:52am
Quoting Phillip Nel
Now I will watch even closer.
Hello Phillip,. it is nice to see the lighter side of you as well. Hope you enjoyed a well deserved holiday. My Mom left yesterday so i am back to the charts . Was waiting for the TC on euro , took it this morning on the 0800 candle with 3 minilots. Closed i for +20/ 2nd for +15/ and 3rd is open with stop loss set to -15.
OriginalEntry was at 1.5750
SL is @ 1.5735
TP is intented to stay open since i think according to Rhythm this could be the start of a new cycle as you have taught us over and over agian, price has cleared up from all the moving averages. and is in bullish mode. (above 89)
This is the first tc after off the 21 after price went above the 200.

But since it is a friday afternoon before a long weekend. i am thinking of closing it towards the end of the day. i have never left a trade open over a weekend so am not sure how brokers deal with open trades.
Any Suggestions ( regarding leaving a trade open).
Have a great weekend everyone!!!!
Nadia..
Attached Image (click to enlarge)
Click to Enlarge Name: euro tc today.jpg Size: 199 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #15,057
  • May 23, 2008 9:59am May 23, 2008 9:59am
Quoting BIL2205
Hello Phillip,. it is nice to see the lighter side of you as well. Hope you enjoyed a well deserved holiday. My Mom left yesterday so i am back to the charts . Was waiting for the TC on euro , took it this morning on the 0800 candle with 3 minilots. Closed i for +20/ 2nd for +15/ and 3rd is open with stop loss set to -15.
OriginalEntry was at 1.5750
SL is @ 1.5735
TP is intented to stay open since i think according to Rhythm this could be the start of a new cycle as you have taught us over and over agian, price has cleared up from all the moving averages. and is in bullish mode. (above 89)
This is the first tc after off the 21 after price went above the 200.

But since it is a friday afternoon before a long weekend. i am thinking of closing it towards the end of the day. i have never left a trade open over a weekend so am not sure how brokers deal with open trades.
Any Suggestions ( regarding leaving a trade open).
Have a great weekend everyone!!!!
Nadia..
Thanks and welcome back. I have never left a position open over the weekend. News might turn the price with a gap and then your stoploss becomes a placed order being filled at market if it gets in. I will rather reopen with the same portion on Sunday if nothing funny has happened.
Have a great weekend
  • #15,058
  • May 23, 2008 10:04am May 23, 2008 10:04am
Thanks Phillip as Always for your reply.
I have moved my SL to BE and plan to close the trade later today .
Nadia,.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #15,059
  • May 23, 2008 10:17am May 23, 2008 10:17am
Moved my stop up to quick and go taken out by 1 pip on the pound. I need to keep my stops wider.
  • #15,060
  • May 23, 2008 10:39am May 23, 2008 10:39am
Quoting vette1974
Moved my stop up to quick and go taken out by 1 pip on the pound. I need to keep my stops wider.
That will come over time. When you start to have confidence in your strategy and know it produces pips you will let it breath some more.
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