All things are difficult before they are easy.
4 hour strategy (the nausbot - 4 hour trader) 11 replies
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DislikedJust curious if anyone is trying to play non farm payroll at 8:30? What are you thoughts and how are you planning the trade. Or are you sitting out the trade and calling it a week since it's friday?
Phillip - great exercise thanks for putting it together. I'm very curious to see how I come out in relation to your picks.Ignored
DislikedJust another warning signal. When the MACD comes down or up in such a straight line it means the speed is going to change. The direction is not definitely known beforehand.Ignored
DislikedExactly! No known direction, that's why I'm just going to play in my demo account and not risk any real money. My guess is that EUR/USD will spike down then continue uptrend...but if I'm wrong, no harm with fake money! Good call Phillip!Ignored
DislikedPhilip,
Is it only EUR/USD that is traded with the system? Because all of the graphs show the euro.Ignored
DislikedTook a part of the downmove. 19 Pips on 2 lots. Took profit on Fib 61% of nearest hi-lo. Can still go down to 1.2960 (89SMA on 4 hour chart)Ignored
DislikedTook a part of the downmove. 19 Pips on 2 lots. Took profit on Fib 61% of nearest hi-lo. Can still go down to 1.2960 (89SMA on 4 hour chart)Ignored
DislikedYes!! Brilliant Phillip! Just touch my 89 SMA (interbank fx low is 1.2961),
then bounce up to 1.2970. Wow!
Quick question for your phillip : What time frame for your posted chart in post #126?
I've switched various TF on my chart and my MACD doesn't look like yours??
Must be the difference in broker/timing. Just curious what TF you use
to trade news?Ignored
DislikedTook a part of the downmove. 19 Pips on 2 lots. Took profit on Fib 61% of nearest hi-lo. Can still go down to 1.2960 (89SMA on 4 hour chart)Ignored
DislikedNice work Phillip. At this point, I can't allow myself to trade on news... to risky for me.
In anycase, I was able to take 12 pips off the EUR/AUD on a MACD trend and it followed the profit levels/ma's very nicely too. It's continuing down, but I was moving my stop for at least something because the spread was a little large, so I wanted to cover it as soon as possible.Ignored
DislikedHere are the deals I got on the exercise as well as commentary about the EurUsd deal yesterday.
Look at all those deals and see which ones you would have taken and which ones not. Look at the support and resistance around the MA's as well as the trendlines. Very interesting. I will post the discussions the way I would have done it in 24 hours time more or less. Hope you learn something out of this.Ignored
DislikedThanks for the "answers" to your exercise.
Allow me to post what I tried to do when you first assigned the exercise earlier. Again, just trying to get inside your head and see if my thought process is in line with yours .
I marked the "reason" for each MACD signal based on your notes.
The only one not in your notes is the "aggressive reversal" cos there's
no price action/ pattern; simply a U-turn in price.
(BTW I didn't get all 23 signals, only 20 of them)
Does it make sense at all?Ignored
DislikedSorry it is the 5 min chart. Dont give notice to the MACD or MA's on that chart. I used the same 4hour chart, just set it to 5 min. I was only interested in the 8EMA. That is what I use to trade news. As long as the 5 min bar price is below the 8EMA I stay in.Ignored
DislikedHi Phillip, just curious what you looked for to enter your trade? Depending on whether your buying or selling, do you look for the 5min candle to close above/below the 8EMA or something else?Ignored