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4 Hour Strategy (MACD)

  • #16,501
  • Aug 6, 2008 10:56am Aug 6, 2008 10:56am
Quoting brettboz
I already shorted EU for 28 pips on the break of the 1H trend line. G/U has broken down and now coming back to test the break out, it may rebound off here (around 9515) BUT there is a daily trend line in place right below and this has already been tested once so far and has held. We may get another test today or maybe not, but its too much of a risk to enable the short here.
thanx for the info
  • #16,502
  • Aug 6, 2008 10:59am Aug 6, 2008 10:59am
Quoting brettboz
Here you can see daily trend line I am talking about
Well it did just what I thought it might rebound off 9515 and down, I glad I didnt take it though the daily trend line was too risky.
  • #16,503
  • Aug 6, 2008 1:12pm Aug 6, 2008 1:12pm
Quoting eTrader
Short CFD Trade EUR/USD 06/08/2008
http://www.forexfactory.com/attachme...1&d=1218030731
hello Etrader,
Where can i get all the datas you have on your charts ?
Nice trade by the way
  • #16,504
  • Aug 6, 2008 7:42pm Aug 6, 2008 7:42pm
the macd is forming double bottom.so i close the last half of my position for 120pips on my demo account.the first half of my position closed for 19pips.thanks phillip!!!!!and all working here!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 32 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurover.gif Size: 55 KB
  • #16,505
  • Aug 6, 2008 7:51pm Aug 6, 2008 7:51pm
Stop Loss = 1.5509 (35 pips above ema(8))
Price = 1.5474
Target = 1.5439 (Lower BB, Potential profit: 35 pips)
Reward/Risk = 1.00

good deal!!! etrader!!


may i ask you a question???what is lower BB???BOLINGER BAND???
  • #16,506
  • Aug 6, 2008 9:27pm Aug 6, 2008 9:27pm
I enter on the second green bar double bottom.

Reason for enter the trade: Enter 1.5436 SL 40pips (below last candle)

  1. First green candles is engulfing
  2. Double bottom forming
  3. Lower high & TC up
  4. Price Near Bottom of price channel

I think the odds are in my favor, TP 21EMA

Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 11 KB
  • #16,507
  • Aug 6, 2008 11:38pm Aug 6, 2008 11:38pm
thank you OldDog
enit
  • #16,508
  • Aug 6, 2008 11:49pm Aug 6, 2008 11:49pm
Quoting ssq
Stop Loss = 1.5509 (35 pips above ema(8))
Price = 1.5474
Target = 1.5439 (Lower BB, Potential profit: 35 pips)
Reward/Risk = 1.00

good deal!!! etrader!!


may i ask you a question???what is lower BB???BOLINGER BAND???
Bollinger bands
  • #16,509
  • Aug 7, 2008 12:34am Aug 7, 2008 12:34am
Quoting Seepiprun
I enter on the second green bar double bottom.

Reason for enter the trade: Enter 1.5436 SL 40pips (below last candle)

  1. First green candles is engulfing
  2. Double bottom forming
  3. Lower high & TC up
  4. Price Near Bottom of price channel

I think the odds are in my favor, TP 21EMA
Attachment

I see some divergence also
The more obstacles I overcome the better man I become.
  • #16,510
  • Aug 7, 2008 1:26am Aug 7, 2008 1:26am
Quoting Seepiprun
I enter on the second green bar double bottom.

Reason for enter the trade: Enter 1.5436 SL 40pips (below last candle)

  1. First green candles is engulfing
  2. Double bottom forming
  3. Lower high & TC up
  4. Price Near Bottom of price channel

I think the odds are in my favor, TP 21EMA
Attachment

Okie,okie EU can rally ahead of Ecb rate.DB signal
TP 15500 to 15550.wait and see
Attached Image (click to enlarge)
Click to Enlarge Name: EU rally truoc ECB rate.jpg Size: 83 KB
  • #16,511
  • Aug 7, 2008 2:13am Aug 7, 2008 2:13am
don't you think guys, this maybe opportunity to go long, H&S, I let the price to go above resistance 1,9516 and on 1h try to go long
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 07.08.2007 (08.00).gif Size: 18 KB
  • #16,512
  • Aug 7, 2008 4:44am Aug 7, 2008 4:44am
v
Attached File(s)
File Type: pdf major support resist.pdf   99 KB | 1,003 downloads
  • #16,513
  • Aug 7, 2008 5:43am Aug 7, 2008 5:43am
Quoting alfred
don't you think guys, this maybe opportunity to go long, H&S, I let the price to go above resistance 1,9516 and on 1h try to go long
I took long on both EU and GU this morning after the 1H pulled back a little and then carried on. But I closed both trades with just around 8 pips between them as the market is moving slow and we have interest rate data coming out so this could be choppy.
  • #16,514
  • Aug 7, 2008 9:27am Aug 7, 2008 9:27am
sold euro!!
  • #16,515
  • Aug 7, 2008 9:37am Aug 7, 2008 9:37am
Quoting fxfact
v
nice pdf fxfact,
i was about to do report like you have done.Thank you
  • #16,516
  • Aug 7, 2008 9:52am Aug 7, 2008 9:52am
Quoting hijackxx
sold euro!!
I didn't take it because of the news out at the start of the 4H candle to come and the large stop loss that would be needed.

GRRRRRRRRRRRR!!!!

Bearish Outside Bar AND a TC signal on the MACD = TAKE THIS TRADE.

  • #16,517
  • Aug 7, 2008 10:41am Aug 7, 2008 10:41am
Quoting unlv_tj
I didn't take it because of the news out at the start of the 4H candle to come and the large stop loss that would be needed.

GRRRRRRRRRRRR!!!!

Bearish Outside Bar AND a TC signal on the MACD = TAKE THIS TRADE.

Likewise,

Didnt sell either G/U or E/U move was too much too quick.
  • #16,518
  • Aug 7, 2008 11:19am Aug 7, 2008 11:19am
Quoting unlv_tj
I didn't take it because of the news out at the start of the 4H candle to come and the large stop loss that would be needed.

GRRRRRRRRRRRR!!!!

Bearish Outside Bar AND a TC signal on the MACD = TAKE THIS TRADE.

I've been really patient for taking TC since my last TC trade. I skipped yesterday's TC, too, for the sake of today's GBP interest rate..
And the line i've drawn there shall be broken before I would take any trade and price did broken it down.. will see what happens next..

hijackxx
Attached Image (click to enlarge)
Click to Enlarge Name: euro short.jpg Size: 429 KB
  • #16,519
  • Aug 7, 2008 12:31pm Aug 7, 2008 12:31pm
I think I got it right today. I entered a demo trade for short for the EURUSD.
I made 41 pips. Thank you Phillip!!!
http://www.forexfactory.com/attachme...1&d=1218129703

The reason I entered a short:
http://www.forexfactory.com/attachme...1&d=1218129703

 

  1. ECB President Concerned about growth.
  2. Pulled back to 21EMA.
  3. Below Pivot Point.
  4. Engulfing Candle.
  5. TC On MACD.
  6. Divergence On MACD.

Thank you again Phillip!!!!

Attached Image(s) (click to enlarge)
Click to Enlarge Name: 123.gif Size: 21 KB
Click to Enlarge Name: trade.PNG Size: 1 KB
  • #16,520
  • Edited 2:57pm Aug 7, 2008 1:40pm | Edited 2:57pm
MACD TC, bullish engulfing candle, large tail through 21.
Entry 1.0592, s/l 1.0547
first half t/p at previous high +18pips
second half set to BE and trailing
Liked that trade better than similar setup on eur/usd, smaller stop loss and 4h candle tail touching trend line.
Attached Image
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