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4 Hour Strategy (MACD)

  • #16,381
  • Jul 29, 2008 1:19am Jul 29, 2008 1:19am
Hi Yorik,
I've got slightly different Trendlines than you. Have just bought GBP/USD after that tail down to the broken TL. Similar setup to 22 July 04:00 candle?? Price is going against me at the moment though...


Quoting Yorik
EURUSD
Crossed EMA21 up, retested it and shows signs of a possible move up to SMA89. On Daily price is standing under EMA21 crossed downwards (EMA21 retest), so Daily is not 100% "for" upmove, though may "allow" it. There's no TC signal on 4H MACD - just higher bars. On 1H chart - many subsequent small "parallel" bars, MACD close to 0 - uncertainty.
My desicion: no MACD signal, uncertainty on 1H, Daily rhythm may be for downmove - no entry just now, for possible buy - wait for a TC or a false breakout down (higher bars on MACD + false breakout through EMA21).

GBPUSD
made a HL on chart and MACD yesterday, is at the lower border of an upwards channel on Daily, just under the upper border of a downwards channel on 4H; crossed SMA89 up and retested it with a hammer-like candle. on MACD - just higher bars, no bullish TC.
My desicion: price is moving up from SMA89 but no signal on MACD and possible resistance is close, so no entry - maybe, better wait for a breakout up and a retest of the broken border.

Any thoughts?
Attached Image (click to enlarge)
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  • #16,382
  • Jul 29, 2008 2:09am Jul 29, 2008 2:09am
who can tell me ,what is the meaning of BE,b/c.....
  • #16,383
  • Jul 29, 2008 2:24am Jul 29, 2008 2:24am
Quoting ssq
who can tell me ,what is the meaning of BE,b/c.....
BE = break even

b/c = ? where did you see it?
  • #16,384
  • Jul 29, 2008 2:37am Jul 29, 2008 2:37am
Quoting BenStevo
Hi Yorik,
I've got slightly different Trendlines than you. Have just bought GBP/USD after that tail down to the broken TL. Similar setup to 22 July 04:00 candle?? Price is going against me at the moment though...
Your trendlines are quite nice. In fact, I could also draw a trendline like yours which goes through 3 highs (22/07 12:00, 23/07 16:00 and 25/07 12:00) and then todays low (29/07 04:00), but it coincides with SMA89, so I didn't. And the higher resistance line is quite similar on our charst - mine is just a bit lower, not through highs but over bodies, for me that's more like where resistance "area" starts.

2ssq: b/c may be "because"
  • #16,385
  • Jul 29, 2008 3:08am Jul 29, 2008 3:08am
Quoting islandtrader
BE = break even

b/c = ? where did you see it?
b/c = because
  • #16,386
  • Jul 29, 2008 3:22am Jul 29, 2008 3:22am
Good morning, the MACD signals are now looking bearish on 1h & 4h, we can wait for the close of the candle, if it close below the 21EMA, I'll enter short with a TP1 in the SMA200 and a TP2 SMA365.
  • #16,387
  • Jul 29, 2008 3:32am Jul 29, 2008 3:32am
Quoting djmanu
Good morning, the MACD signals are now looking bearish on 1h & 4h, we can wait for the close of the candle, if it close below the 21EMA, I'll enter short with a TP1 in the SMA200 and a TP2 SMA365.
....which pair are you talking about? regards, manto
  • #16,388
  • Jul 29, 2008 4:11am Jul 29, 2008 4:11am
Quoting manto
....which pair are you talking about? regards, manto
Sorry it was EURUSD ...
  • #16,389
  • Jul 29, 2008 4:16am Jul 29, 2008 4:16am
I also took this trade.As you see price broke the triangle and came back to it(shown by green arrow ) and now continuing to go up!!

Mike
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Failure, is a wonderful teacher!
  • #16,390
  • Jul 29, 2008 4:32am Jul 29, 2008 4:32am
Quoting mike1349
I also took this trade.As you see price broke the triangle and came back to it(shown by green arrow ) and now continuing to go up!!

Mike
....i am not sure... and look at the EU too....
regards, manto
Attached Image (click to enlarge)
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  • #16,391
  • Jul 29, 2008 4:54am Jul 29, 2008 4:54am
Quoting mike1349
I also took this trade.As you see price broke the triangle and came back to it(shown by green arrow ) and now continuing to go up!!

Mike
hello my friend.im in agree with u ,the way is up but becarefull about possible 3'rd higher low .(like last time it bounced of the TL)
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  • #16,392
  • Jul 29, 2008 5:34am Jul 29, 2008 5:34am
I must agree with Bshadroo about possible 3rd low, but the pound is in a triangle again and i think it will go below TL and near 200 or 365 sma.
Attached Image (click to enlarge)
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  • #16,393
  • Edited 7:54am Jul 29, 2008 6:21am | Edited 7:54am
i was waiting to a H1 breakout to sell .will go BE as soon as possible.200sma in H4 is in the way
edit:closed +30pips
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  • #16,394
  • Edited 6:40am Jul 29, 2008 6:26am | Edited 6:40am
Quoting djmanu
Good morning, the MACD signals are now looking bearish on 1h & 4h, we can wait for the close of the candle, if it close below the 21EMA, I'll enter short with a TP1 in the SMA200 and a TP2 SMA365.
The 1h candle closed below the 21EMA:
Short @ 1.5731, TP: 1.5716 (SMA200), SL: 1.5754

The EURUSD reached the SMA200, total= +15 pips

Could find support there for sometimes, If the 4h candle close below the 200SMA and the MACD signals are bearish, I'll enter a short to the 365EMA.
  • #16,395
  • Jul 29, 2008 7:11am Jul 29, 2008 7:11am
thanks a lot for the answers to my question!!!
  • #16,396
  • Jul 29, 2008 7:23am Jul 29, 2008 7:23am
In a strong trend : ) Look for a widening in the MA's and a fan in perfect order. also, take a look at the angle and direction of the indicator. & it will be stronger if corresponds w/trendline...haven't really looked for that, so I don't know if it exists....hmmmmm


what is the meaning of the "w/trendline"?????

thanks ahead.
  • #16,397
  • Jul 29, 2008 7:40am Jul 29, 2008 7:40am
ok.Thanks for comments.I guess now I should wait for a Long off the TL

Mike
Failure, is a wonderful teacher!
  • #16,398
  • Edited 8:48am Jul 29, 2008 8:35am | Edited 8:48am
For the EURUSD, it broke the SMA 200 to the EMA365, I was not there to take all the movement and it stay only 15 pips to 365EMA, I will stay out for now.
Edit1: EMEA365 reached !
  • #16,399
  • Jul 29, 2008 9:01am Jul 29, 2008 9:01am
Quoting mike1349
ok.Thanks for comments.I guess now I should wait for a Long off the TL

Mike
i think it now breaked down the TL (price:1.9828 now)
  • #16,400
  • Jul 29, 2008 9:06am Jul 29, 2008 9:06am
hi
i have a question,whats is exactly the purpose of 365ema?sup. and res.?
i see many times price moves easily across this ema and have no reaction to this.
thx
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