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4 Hour Strategy (MACD)

  • #16,441
  • Jul 31, 2008 9:24am Jul 31, 2008 9:24am
Quoting manto
....the movement was because of news. You couldnt see it on the charts. We should not trade during news-time. Or take the spike from the news - but this is gambling...
regards, Michael
You're right, I should had to read the news this morning.
  • #16,442
  • Jul 31, 2008 2:52pm Jul 31, 2008 2:52pm
Two large bearish engulfing candles at the same level, followed by a failed rally in the prior 4 Hour candle. The Yen is looking VERY bearish. It's going to take something dramatic like a VERY positive NFP to make a new high. This is a high-probability trade based on previous experience.
Good chance it makes a run at the 89 or at least the resistance around 107.30.
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  • #16,443
  • Jul 31, 2008 6:51pm Jul 31, 2008 6:51pm
Quoting Copino
Hi Phillip,
Is this still working ? I tried to connect yesterday, but with no success.
Thanks
No ..but there is a new one.what is your skype id?

Mike
Failure, is a wonderful teacher!
  • #16,444
  • Aug 1, 2008 12:12am Aug 1, 2008 12:12am
Hi all and My great teacher PHILIP,

It has been long time I post due to so much tight schedule of work.

I just want to use this medium to welcome all new babies to this forum. It is indeed a great community. I have never miss any post since the beginning of the thread until lately when I miss about ten pages which I was unable to read up to day. Like I said tight schedule. Time spent on this forum is never a waste.

Can you believe I had refered people to this forum but they are just to lazy to go through it even when there is someone to guide them through. That is to tell you how people are so lazy but looking for money.

I am been missing Bag Lady, Ryn, masterx and co. they are great guys of this forum.

Ryn, I hope you are going on well with your price action from james16.

Just to remind us all that a TC away from 200sma is always a good trade. Spot it and ride it. Check it out from most of the pairs in the last week to date.

Pips well all.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #16,445
  • Aug 1, 2008 12:42am Aug 1, 2008 12:42am
I have question about when to enter on some trades.
This was last nights potential trade on the 1 HR.
The 4 hr gave no TC patterns, so I went to the 1 hr.

Look at the large green candle that is an engulfing.

Should I enter when it passes the small candle before it
or
should I enter when candles passes that long tail upward??

Does this tail only make a difference when it is 5 candles back on the 1 HR?

I do know that if a tail is next to that engulfing green candle I should wait for the green candle to pass it before I enter.

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  • #16,446
  • Aug 1, 2008 1:25am Aug 1, 2008 1:25am
Quoting Seepiprun
I have question about when to enter on some trades.
This was last nights potential trade on the 1 HR.
The 4 hr gave no TC patterns, so I went to the 1 hr.

Look at the large green candle that is an engulfing.

Should I enter when it passes the small candle before it
or
should I enter when candles passes that long tail upward??

Does this tail only make a difference when it is 5 candles back on the 1 HR?

I do know that if a tail is next to that engulfing green candle I should wait for the green candle to pass it before I enter.

Attachment
today i dont really expect any huge movment before NFP and u r very brave to sell on the weekly TL
yesterday i have a buy at 1.5619 and closed it for +43pips and also today im looking for a buy more.
and.. look at the next picture, i had a nice TC on my chart after breaking the TL and if u wanted to sell u whould sell after that TC and your entry was too late i think .
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  • #16,447
  • Aug 1, 2008 1:41am Aug 1, 2008 1:41am
Hi All. Just wanted to note how interesting it is to observe the current support that the 365EMA is providing. Also noticed that the spike of yesterday went right up to the 89 SMA. According to the rule, price could move downwards from the 21EMA with a TC, BOZ, or ZB.
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  • #16,448
  • Aug 1, 2008 1:50am Aug 1, 2008 1:50am
Quoting Seepiprun
I have question about when to enter on some trades.
This was last nights potential trade on the 1 HR.
The 4 hr gave no TC patterns, so I went to the 1 hr.

Look at the large green candle that is an engulfing.

Should I enter when it passes the small candle before it
or
should I enter when candles passes that long tail upward??

Does this tail only make a difference when it is 5 candles back on the 1 HR?

I do know that if a tail is next to that engulfing green candle I should wait for the green candle to pass it before I enter.

Attachment
...In my opinion there was no signal, neither 1h nor 4h to catch the news-move (large green candle) on the MACD, so you couldnt get it by this method. But look at the small green candle to the left of the large one. This was an Inbar and you could have traded the outbreak when the large green passed the high of the small one. (I did). But in that method (DIBS) is strongly recommended too, not to trade the news, because you often get burned. So for me it is sort of gambling. And you see, that the price came immediatly down after the upwards spike, so everyone who tried to trade this in a 4h strategy, taking the signal after closing the large green would have been burned. So it is right: If you do not want to gamble, dont trade the news with this method.
Just my thoughts about it.
Regards, Michael
  • #16,449
  • Aug 1, 2008 3:01am Aug 1, 2008 3:01am
thanks manto for your opions!!!!


another question:what is CT??? TC: trend continue
and what is DIBS?
  • #16,450
  • Aug 1, 2008 3:26am Aug 1, 2008 3:26am
Quoting ssq
thanks manto for your opions!!!!


and what is DIBS?
...it would go beyond the thread here to explain. This is a wonderful thread i learned a lot here and am still learning, so we should keep it thematically clean, but if you want, look to trading systems here at FF and you will find it.

I will take the chance to say thank you to Phillip again for the work he does here (and i'm sure, its a lot of work!). You make so many people seeing. I'm studying it again and again "by heart" as you recommended and learning more every day. Thanks again.
Regards, Michael
  • #16,451
  • Aug 1, 2008 8:54am Aug 1, 2008 8:54am
its closing in about 5 minutes ,if it closes like this i think we could have a nice CT trade .
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  • #16,452
  • Aug 1, 2008 9:06am Aug 1, 2008 9:06am
Quoting mike1349
No ..but there is a new one.what is your skype id?

Mike
Skype ID : copinos
  • #16,453
  • Aug 1, 2008 9:09am Aug 1, 2008 9:09am
Quoting bshadroo
its closing in about 5 minutes ,if it closes like this i think we could have a nice CT trade .
there was no macd signal with a few pips and then jumped up very fast .i didnt enter again because of red macd
Attached Image (click to enlarge)
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  • #16,454
  • Aug 4, 2008 12:23am Aug 4, 2008 12:23am
Hi all

What is about to our thread? Is it consolidating? No post since Friday. This is very unusual.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #16,455
  • Edited 3:24am Aug 4, 2008 1:07am | Edited 3:24am
GBPUSD gave a TC down on my platform (Alpari, GMT+1). RR and SL Ok, but decided to stay out because of: a) prev. low too close (~10 pips); b) setup is "hanging" in the air - no resistance (EMA8 or res. line) above; c) several signs available that downtrend is loosing strength - almost DB on chart, HL on MACD; d) it's Mon., market might have not "decided" where to go yet.
Any thoughts? Had anybody entered?

Edit1: TP1 could have been reached, so the setup seems to have worked out this time. But next one similar is likely to be a loss if I enter it
Edit2: TP2 reached (1.97), possible ~30 pips went by..
Attached Image
  • #16,456
  • Aug 4, 2008 1:20am Aug 4, 2008 1:20am
Hi,
i entered short on Eur, and now waiting for around 10 pips and then I will go BE as soon as possible.
short 1.5582
SL 1.5603

1st TP at cca 25 pips

will see how it goes

P.S.
i also noticed that there isn't much action on the thread as it used to be ???
  • #16,457
  • Aug 4, 2008 1:41am Aug 4, 2008 1:41am
Quoting Borism
Hi,
i entered short on Eur, and now waiting for around 10 pips and then I will go BE as soon as possible.
short 1.5582
SL 1.5603

1st TP at cca 25 pips

will see how it goes

P.S.
i also noticed that there isn't much action on the thread as it used to be ???
Sorry, Borism, but what was the setup you entered on? I see EURUSD just dancing between a bearish TC and continuation of a HL forming. And DB on the chart + HL on MACD makes me usure as for early short entries..
  • #16,458
  • Aug 4, 2008 2:59am Aug 4, 2008 2:59am
Quoting Yorik
GBPUSD gave a TC down on my platform (Alpari, GMT+1). RR and SL Ok, but decided to stay out because of: a) prev. low too close (~10 pips); b) setup is "hanging" in the air - no resistance (EMA8 or res. line) above; c) several signs available that downtrend is loosing strength - almost DB on chart, HL on MACD; d) it's Mon., market might have not "decided" where to go yet.
Any thoughts? Had anybody entered?

Edit: TP1 could have been reached, so the setup seems to have worked out this time. But next one similar is likely to be a loss if I enter it

You are right there Yorik but I took the short because of the following reasons

1. A TC down on my platform which closed @ 1.9735 exactly on my low entry defined.

2. there is enough room to support 1 @ 1.9706

Sell @ 1.9735
TP @ 1.9710
SL @ 1.9775. 10 pips above signal candle and 1 pip above pivot point.

got my 25 pips there. i have also reentered with small lot on retracement with 5 min strategy on the anticipation that it will break support 1 and i will ride it to support 2 @ 1.9660.

let see what happened
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #16,459
  • Aug 4, 2008 3:13am Aug 4, 2008 3:13am
Quoting ejiexe
You are right there Yorik but I took the short because of the following reasons

1. A TC down on my platform which closed @ 1.9735 exactly on my low entry defined.

2. there is enough room to support 1 @ 1.9706

Sell @ 1.9735
TP @ 1.9710
SL @ 1.9775. 10 pips above signal candle and 1 pip above pivot point.

got my 25 pips there. i have also reentered with small lot on retracement with 5 min strategy on the anticipation that it will break support 1 and i will ride it to support 2 @ 1.9660.

let see what happened
If my understanding is right your RR was not good: +25 -40... and it is not according to the rule of the strategy... Anyway you are lucky to have your pips.
  • #16,460
  • Aug 4, 2008 3:27am Aug 4, 2008 3:27am
can we consider the present set-up in EURUSD a HIGHER LOW?

http://img175.imageshack.us/img175/1170/hl1xl4.th.jpg
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