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4 Hour Strategy (MACD)

  • #16,201
  • Jul 17, 2008 10:19am Jul 17, 2008 10:19am
celext, No the MACD is the conformation signal but definately not the only signal. The true signal is the rythm of the market. Take a look at the first post in the thread it has downloads and pages numbers for all the information you need.
  • #16,202
  • Jul 17, 2008 11:42am Jul 17, 2008 11:42am
Hmm, that would require reading the posts

Go to the very first article in this thread and you will find links to the material that makes up this strategy. This has been covered many, many times before.

FX Return
  • #16,203
  • Jul 17, 2008 11:59am Jul 17, 2008 11:59am
Quoting saka
Does anyone feel eu 4h chart will form a three sisiters?
Hey Saka, I noticed it this morning too. Watching euro and waiting for confirmation. If we get a TC with Price closing below 21 . it could very well move down to 89.
Attached Image (click to enlarge)
Click to Enlarge Name: euro 3 sisters.jpg Size: 233 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #16,204
  • Jul 17, 2008 12:18pm Jul 17, 2008 12:18pm
still 45 minutes till close,who wanna sell if it closes like this?im registering sells
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 15 KB
  • #16,205
  • Edited 2:18pm Jul 17, 2008 12:42pm | Edited 2:18pm
The tail that was forming convinced me as well that a possible run to 89sma could be therefore I switched to shorter timeframe strategy to get an entry.

Watch possible support at 1.5822 on TL. (intermediate TL)

Edit 1.
1.5822 tested for the 2nd time

Edit 2
Closed 2nd position for +20pips. 1st position still open.

Edit 3
I still have this 1st position open at 89sma since entry at 1.5861 and currently on a 20 trailing stop.

Edit 4
Bottom TL reached. Set position to 15 trailingstop.

Edit 5
Position closed out by Trailstop at 1.5798

**************************************************************************
EurUsd TC trade
20:00 candle close gave TC with a tail. Enter with 30SL and 30TP down to 89sma.
Enter 1.5824
SL 1.5856
TP 1.5794 but I will watch 1.5800 very closely.


Close 50% after 15pips and set remainder on 20Trailingstop

Edit 1
50% closed for +15 and set remainder at 20 trailstop

Edit 2
1.5800 tested for the 3rd time on 1min. Will see if it breaks this time.

Edit 3
89sma and TP reached. Close remainder.

Total profit (+15+30)/2= +22.5pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy 1.gif Size: 25 KB
Click to Enlarge Name: 4 Hour Strategy 2.GIF Size: 25 KB
  • #16,206
  • Jul 17, 2008 1:03pm Jul 17, 2008 1:03pm
Quoting bshadroo
still 45 minutes till close,who wanna sell if it closes like this?im registering sells
its just stopped above the TL ,i dont think it is a good TC now.even if it can breaks down the TL ,we have a very strong area at the blue circle.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 23 KB
  • #16,207
  • Jul 17, 2008 1:12pm Jul 17, 2008 1:12pm
Quoting Phillip Nel
The tail that was forming convinced me as well that a possible run to 89sma could be therefore I switched to shorter timeframe strategy to get an entry.

Watch possible support at 1.5822 on TL. (intermediate TL)

Edit 1.
1.5822 tested for the 2nd time

Edit 2
Closed 2nd position for +20pips. 1st position still open.


EurUsd TC trade
20:00 candle close gave TC with a tail. Enter with 30SL and 30TP down to 89sma.

Close 50% after 15pips and set remainder on 20Trailingstop
Please i would like to know the point which you took your entry trade on the lower time frame and what was the candle emotion at that point. Your answer will be very much appreciated.
"Forex is like a bitch every trader must marry one"
  • #16,208
  • Edited 1:32pm Jul 17, 2008 1:18pm | Edited 1:32pm
I took the Euro tc on 1600_2000 candle since it was according to market rhythm.
enter at 1.5828 . Taret 89 sma, (1.5793) 2 pips above the MA bec of spread.
Closed half at +22 and set half at BE. Not the best time of the day to take a trade but it was within the rules so took the odds on.
( this trade is on Alpari demo gmt + 2).

Take profit hit, total gain
22+35/2= 28.5 pips
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #16,209
  • Jul 17, 2008 1:19pm Jul 17, 2008 1:19pm
[quote=Phillip Nel;2115206]The tail that was forming convinced me as well that a possible run to 89sma could be therefore I switched to shorter timeframe strategy to get an entry.

I'm at work right now, so I can only use palmer's charts without MA's and MACD, and can only follow price action. Did you use the 5 min to get in?
Raymond
  • #16,210
  • Jul 17, 2008 1:30pm Jul 17, 2008 1:30pm
Beautiful 3 Sisters on the Euro.
I'm short the GBP, based on the 4 Hour tail.
Saka,
Are you still in the JPY trade from yesterday? Major bank if so.
  • #16,211
  • Edited 1:58pm Jul 17, 2008 1:39pm | Edited 1:58pm
[quote=Morelands;2115284]
Quoting Phillip Nel
The tail that was forming convinced me as well that a possible run to 89sma could be therefore I switched to shorter timeframe strategy to get an entry.

I'm at work right now, so I can only use palmer's charts without MA's and MACD, and can only follow price action. Did you use the 5 min to get in?
Raymond
I entered by watching the 5min and the 1min. There was a break of support on the 1min making the trade good with small stoploss. The tail that was busy forming made it easy and the 1min was very true at that point. I entered at 1.5861 with one position and with a second one later. Closed the 2nd one for + 20 and let the other one ran and was closed out by trailstop at 1.5798

I aslo entered the 4H TC with 2 positions as described earlier.
  • #16,212
  • Jul 17, 2008 1:40pm Jul 17, 2008 1:40pm
Quoting BIL2205
I took the Euro tc on 1600_2000 candle since it was according to market rhythm.
enter at 1.5828 . Taret 89 sma, (1.5793) 2 pips above the MA bec of spread.
Closed half at +22 and set half at BE. Not the best time of the day to take a trade but it was within the rules so took the odds on.
( this trade is on Alpari demo gmt + 2).

Take profit hit, total gain
22+35/2= 28.5 pips
Well done to you all that had the nerves to take it.
  • #16,213
  • Edited 2:32pm Jul 17, 2008 1:57pm | Edited 2:32pm
Info

Price has pulled back into the triangle. Be carefull to take position from within the triangle.

Lets see if the price is going to close below the triangle and the 21ema. Then a pullback to 21ema and a move down might be a trade down to 89sma
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy 2.GIF Size: 23 KB
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File Type: zip Daily Wrapup 17 July2008.zip   784 KB | 1,974 downloads
  • #16,214
  • Jul 17, 2008 3:22pm Jul 17, 2008 3:22pm
Quoting bshadroo
its just stopped above the TL ,i dont think it is a good TC now.even if it can breaks down the TL ,we have a very strong area at the blue circle.
it bounce back very fast from that circle,but there was a chance to save some pips after TC .well done to people who trade the tC
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 20 KB
  • #16,215
  • Jul 17, 2008 6:20pm Jul 17, 2008 6:20pm
hi ,

I'll appreciate it if someone will reffer me to "V shape" on macd dicussion .

Thanks ,

Barak
  • #16,216
  • Jul 17, 2008 8:48pm Jul 17, 2008 8:48pm
G/U broke the 21 and came back to it(Last candle tail touched it).I think it's heading to 89.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 34 KB
Failure, is a wonderful teacher!
  • #16,217
  • Edited Jul 18, 2008 6:06am Jul 17, 2008 9:34pm | Edited Jul 18, 2008 6:06am
A tail with a spinner and then a bearish candle off the bottom TL after it retraced I will take this position.
THIS IS A HIGH RISK TRADE.
I like the tails to the top as well


Will close 50% after 20pips and set remainder at -20 to go BE at worst if the price goes 20 at least


I will scale out in two different places with my stoploss as well as to spread the loss should it occur. There is still some volitality and the ride might be bumpy.

*****************************************************************************************************
Entered at 1.9953
Stoploss 2.0003
TP 1.9882 but will watch 1.9900 very closely

I will scale out on my stoploss as well. Will close 50% after 30pips loss and remainder at 50pips loss for an average of 40pips

Edit 1
50% Closed for 30pip loss. Will close remainder at 2.0003

Edit 2
20pip profit reached and set remainder at BE. Will set 15 trailingstop when 1.9910 to 1.9900 is reached.

Edit 3
1.9910 is reached. Set remainder to 15 trailingstop

Edit 4
Remainder closed by trailingstop

Total gain (-30 + 32)/2 = 1,0pips

I anticipated a breakdown to the 89sma. It did not happen at first(only gone some distance then turned around at 1.9900) and then I had to minimize my losses. The 2fold scale out stoploss strategy helps to make the loss smaller should it occur.

Markets are very nervous now. Be careful.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy 1.gif Size: 22 KB
  • #16,218
  • Edited 4:34am Jul 18, 2008 2:22am | Edited 4:34am
hi
i know this is a high risk trade,please comment on my trade
thx
edit:ate my stoploss at 5835 then came back all the way up
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 16 KB
  • #16,219
  • Jul 18, 2008 6:09am Jul 18, 2008 6:09am
Phillip, I took the exact same trade last night and watched it for an hour or two but I closed out near BE. Hopefully the retracement didn't take you out before it went down.
  • #16,220
  • Edited 9:35am Jul 18, 2008 6:35am | Edited 9:35am
This is a positional trade for the possibility breakout down. Will post Mp3 tonight to explain.

Entered 1.5847
SL 1.5879
TP Let it run to 89sma and below is my intention.

Edit 1
Closed 50% for +18pips(was filled at that) and keep remainder at 30 pip stoploss.

Edit 2
Price went below 1.5810. Set remainder on BE

Edit 3
Remainder closed at BE


Total pips gain (+18+0)/2 = 9 pips
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd 1.GIF Size: 35 KB
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