4 Hour Strategy (MACD)

just thinking loud,#1 is more possible i think .its a diamond flag pattern

nice one bashadroo, didn't notice that pattern, now looking quite obvious.... but I'm biased towards long.....

EUR/USD 4h Chart today

I see a TC + pattern in USDJPY, but the falling TL seems to be resistance!

Hi hijackxx,

Glad to hear your trade went well! Thank you for the nice post -- appreciate it

For anyyone interested,Paulson was just reassuring the markets that housing is OK (stating the numbers released are skewed by a few unique regions) and that measures to add liquidity via Freddie and Fannie are in the works -- caused a huge run up in the stock market and corresponded w/a decline in oil. Overall, just the dog and pony show continuing -- but interesting nonetheless (to me, LOL!) Looks like they are using the media to restore confidence in housing and hopefully the economy (and most importantly, the markets) -- since not much can get done politically.

Think this week is quiet in the markets b/c of G8 -- and rate dec. for GU on Thursday. Guess the currencies just need a bit of a breather after last weeks moves and are staying in their ranges for now -- so, I'll keep planning my moves.

EUR/USD 4h Chart today

[EUROPEAN FX CLOSE] The Dollar finished the session on a softer footing thanks to the combination of higher oil and softer stocks. More talk of writedowns accompanied the move, although there was no sign of risk aversion in the usual currency pairs. Indeed carry plays were the star performers.

This is my first post on FF and i just wanted to thank MR.Nel for his incredible contribution by introducing this incredible system. He is really a forex idol and an icon. He has my sincere gratitude and thanks and god bless him and his family.

This is my first post on FF and i just wanted to thank MR.Nel for his incredible contribution by introducing this incredible system. He is really a forex idol and an icon. He has my sincere gratitude and thanks and god bless him and his family.

Info

If to build a resistance line on GBPUSD weekly one can see that it was broken upwards on 26/06/08, then on Monday 07/07/08 price retraced to it (daily bar is black with long lower shadow) and now it seems to start moving up again, on weekly current bar has a noticeable lower tail.

Don't know - maybe some experience members (Phillip?), if share this way of thinking may have entered today after that 04-08:00 4H black bar with long lower rail.

Edit: Wow! While I was typing, Phillip has really posted his report about such a trade
Edit2: but, again, only experienced trader would have taken this one - more than basic Strategy rules, not a TC

Phillip,

Nice daily wrap-up! Great job at explaining the momentum and showing the U vs. the V shape!!!

Hope the mine inspection went smoothly for you (yikes!)

Talk to you later,
Donna

as you said Philip, lack of knowledge made my wallet 45 pips thiner today, it happenes sometimes, we still in learning process
kind of week hands shaking I think
regards

Allways try to define the playing field when in a triangle and try to get your stop out of the way. If it is too big then skip.

Add
Never forget your trendlines.

If Euro behaves within the rhythm here is what my anticipation is.
Price is in Bulish mode above 89/ 21 and 8 ema. Moving averages seem to be in order with 8 above 21 and 21 above 89.
At this point a nice couple of small candles with a move to 21 EMA and then a nice TC up with a reasonable stop loss. Target would be the top trend line.Isnt trading beautiful ..... . Lets see how this one develops. And if it does play out accordingly i would want to be ready.
Daily chart is also working on a TC offof 21 ema. Still few hours in candle close for daily chart.

Shreem and Hijackxx... good to see you back on the thread
Nadia.

Hi folks,

New here, hope to learn more from your..^_^..

Cheers
Irene

EUro/USD broke through 89SMA and returned to it.

Price is above the 89 200 and 365.

I expect to see a TC later tonight.

THe same goes for the GBP/USD, this one is ver obvious

Hello Nadia and Pipsforyouandme, thanks for the welcome back.

Happy to be here again too. This thread is really great and the method is incredible. No choice to come to it.

Wishing you all a great trading week

Sincerely

Shreem

you are right, I switch it into 1h chart and find the signal of bullish trend exausted, this prevent me from entering

This is may very first post on this forum and like other newcomers i want to thank Mr. Nel for sharing this system and the tons of work he does in this thread. Thank you, thank you!

The daily wrapup from yesterday gave clear reasons for going long in GBP/USD before outbreak. But when i compare this with my chart i see, i have other candles, so i decided wrong and stood beside. You see my chart in the attachment, look at the arrows in the chart and Macd: at time for decision (closing that one candle which hit the trendline) it seemed to me short because of that long tail. I saw the SHS on Macd, but it could just occur a zero-bounce Signal the next 2 candles.

Does everyone know how to handle the different datafeeds by brokers? Or should i have been long with my candles too and it was only my wrong decision? Just to learn and make it better next time.

Michael