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4 Hour Strategy (MACD)

  • #15,981
  • Edited 3:37pm Jul 8, 2008 9:57am | Edited 3:37pm
Hi Yorik,

On the daily chart, we have a hammer supported by 50% of fibonacci.
Now, price on the daily chart retraces 62%-79% of fib of the previous candle. And also, we can see price is supported by 89 sma in details on multi time frame (see the 3 charts side by side, 4h-1h-15M).

I wait to see more proofs before initiate a long trade.
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Being a fxtrader is not easy. Ones must working hard.
  • #15,982
  • Jul 8, 2008 10:15am Jul 8, 2008 10:15am
To me, it looks like all the pairs are taking a little breather and jamming themselves between the 21 and 200 -- no clear direction at this time, more of a range/triangle type play (which means EU is in the middle of the range and could go either way). The r:r is not good either for EU -- so it is a wait and see day -- think it is more of a prep day. Does anyone plan trades ahead? Make scenarios and then follow if the criteria is met, or do you do your analysis on the current info and trade? Sometimes it is very helpful to plan ahead and wait for the events to unfold -- can keep you out of spontaneous trades and help to anticipate movement -- especially while learning to trade better.
  • #15,983
  • Jul 8, 2008 10:19am Jul 8, 2008 10:19am
I see some of you took the short on e\u , I have just got back infront of the pc , do you think it will be wise to get in on the next bar (if it will approve)?

thanks
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  • #15,984
  • Jul 8, 2008 10:47am Jul 8, 2008 10:47am
Hi fellow traders,

I will see price around the level 1.5611 which is a fractal. If price breaks 1.5611 convincely bias short trade or if price fails to test 1.5611 then long trade.

What do you think guys?




SRILOBA
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Being a fxtrader is not easy. Ones must working hard.
  • #15,985
  • Jul 8, 2008 11:30am Jul 8, 2008 11:30am
Look at this chart provided by CMS, what a big tail! I have no idea why this can happen. Is there anything to do with a broker's honesty?
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  • #15,986
  • Jul 8, 2008 11:39am Jul 8, 2008 11:39am
Hello all. Long time not see people. Was very busy with promotion at work and now trying to get myself back in forex with 4H of MACD and market profile.

Great analysis Sriloba.

Special hello to Pipsforyouandme. How are you doing?

Do agree that price is sqeeze between the 21 and 200 ma.

If i will favor a short, it would be to the 200ma max.

As i have incorporated market profile in my analysis along with the great 4h method of Phillip, the value area placement of the last few days suggest that price is in a range, preparing itself for a strong move either way.

Overall, the trend and auction is up, previous few days was an auction lower with now in a state of equilibrium between buyers and sellers (current range).

So, lets see what develop

Great trading day to all

Sincerely

Shreem
  • #15,987
  • Jul 8, 2008 11:46am Jul 8, 2008 11:46am
We had a visit from the inspector so I could not watch the market. The 89sma was not really broken(by some pips) so I would have stayed out just because of that.

For those that took the chance at least some pips was made.
  • #15,988
  • Jul 8, 2008 11:55am Jul 8, 2008 11:55am
What about the GBP Phillip? Or the Yen on a retrace to the 8 EMA?
Those are the two trades I'm currently in. Took 25 pips profit on Yen and set remainder to BE. 1st profit target just hit on GBP and remainder set to -25 to give it a chance to run.
  • #15,989
  • Jul 8, 2008 12:16pm Jul 8, 2008 12:16pm
Quoting islandtrader
The 4h Strategy Skype chat is still alive, and a couple of members active posting ideas and comments in a casual way.
It's quiet most of the time (which can be a good thing), but some chats develop at key development areas on the charts.
It helps me to keep more alert and some comments have me rethink aspects I might have overlooked before.
If you are interested to be added to the chat please contact (Skype IDs):
islandtrader1, MxPips, poplar62 or saka
hi
do u people wanna mix 2 chatrooms in one uniqe chatroom.because i see alot of relation betwen phillips 2 systems and forexample if u wanna enter an m5 trade its better to look at the bigger TF and naturally one cannot avoid speaking about the bigger TF in chatroom .whats ur idea?
  • #15,990
  • Jul 8, 2008 12:20pm Jul 8, 2008 12:20pm
Quoting macalmd
Look at this chart provided by CMS, what a big tail! I have no idea why this can happen. Is there anything to do with a broker's honesty?
its better to post this picture to them and ask them ,but i think this is only a graphical problem with ur chart.
  • #15,991
  • Jul 8, 2008 12:51pm Jul 8, 2008 12:51pm
Hi fellow traders,

The 1.5630 level is very important because there are many s/r in the past.

Soon the candle 16:00-20:00 is about to complete and forme a long legged
doji. As we can see a hammer on the daily chart of yesterday gave a clue that the direction will change to the upside move slowly and also we have a golden cross of 89/200 sma with a good angle and seperation on the 4 hour chart.

I will see the further development.



SRILOBA
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Being a fxtrader is not easy. Ones must working hard.
  • #15,992
  • Jul 8, 2008 1:49pm Jul 8, 2008 1:49pm
Hmmm...here is an interesting Breaking News.....

Paulson is speaking in 10 minutes....why? Glad I haven't any positions on....may be nothing...but strange....

Hey, Shreem! I thought of you earlier!!! Creepy....Was wondering what you were up to. Glad to see you are doing well!

Pips
  • #15,993
  • Jul 8, 2008 11:08pm Jul 8, 2008 11:08pm
Quoting pips4uandme
Hmmm...here is an interesting Breaking News.....

Paulson is speaking in 10 minutes....why? Glad I haven't any positions on....may be nothing...but strange....

Hey, Shreem! I thought of you earlier!!! Creepy....Was wondering what you were up to. Glad to see you are doing well!

Pips
Hi pips, good to see such an enthusiasm from you love your posts as they're always being positive. About Paulson, I have no idea what he was talking about because I don't watch news. And my GU trade went well last night
  • #15,994
  • Jul 9, 2008 1:14am Jul 9, 2008 1:14am
nice H&S, don't you think?
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  • #15,995
  • Jul 9, 2008 1:31am Jul 9, 2008 1:31am
Quoting alfred
nice H&S, don't you think?
Look out for the Tc pattern...
I believe . . .
  • #15,996
  • Jul 9, 2008 2:03am Jul 9, 2008 2:03am
Quoting bshadroo
hi
do u people wanna mix 2 chatrooms in one uniqe chatroom.because i see alot of relation betwen phillips 2 systems and forexample if u wanna enter an m5 trade its better to look at the bigger TF and naturally one cannot avoid speaking about the bigger TF in chatroom .whats ur idea?
That's a good idea.


Mike
Failure, is a wonderful teacher!
  • #15,997
  • Jul 9, 2008 2:28am Jul 9, 2008 2:28am
Quoting bshadroo
hi
do u people wanna mix 2 chatrooms in one uniqe chatroom.because i see alot of relation betwen phillips 2 systems and forexample if u wanna enter an m5 trade its better to look at the bigger TF and naturally one cannot avoid speaking about the bigger TF in chatroom .whats ur idea?
personnally I'd prefer sticking to Philip's original idea to keep both systems seperated. Anavoidable sometimes to refer to other timeframes, but overall I think it's more rewarding to stay disciplined and to limit a little bit the range of possible chat topics. It works well on those ForexFactory threads, even more important to keep it clean on the chats. Sometimes we just transfer to the other chatroom just to keep the context. Works well imo.
  • #15,998
  • Jul 9, 2008 4:29am Jul 9, 2008 4:29am
Quoting islandtrader
personnally I'd prefer sticking to Philip's original idea to keep both systems seperated. Anavoidable sometimes to refer to other timeframes, but overall I think it's more rewarding to stay disciplined and to limit a little bit the range of possible chat topics. It works well on those ForexFactory threads, even more important to keep it clean on the chats. Sometimes we just transfer to the other chatroom just to keep the context. Works well imo.
How do i get unto the skype chat for the 4HR?
  • #15,999
  • Jul 9, 2008 4:31am Jul 9, 2008 4:31am
UJ is about to form a TC, and it seems that uj is forming a ascend triagle, 200sma of daily chart has played a role of resistant for a time, will uj will break it in next 4h?
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Plan your trades and trade your plans
  • #16,000
  • Jul 9, 2008 4:36am Jul 9, 2008 4:36am
Quoting svirgo
How do i get unto the skype chat for the 4HR?
please see PM
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