4 Hour Strategy (MACD)

Quoting Hookem28

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Hi everybody.

The 1 Hour is making lower highs and lower lows. The latest rally attempt ended at the same level as the previous one, with a strong bearish engulfing candle. The Yen often makes two rally attempts before correcting.

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Quoting hijackxx

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closed other half for 148 pips.. good tc

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Quoting Seepiprun

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highly volitale market. Large movements in short periods of time. There was alot of movement on eur/usd during off hours of Euro and US markets.
Maybe Asia market is alive. That would be a suprise!

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Quoting islandtrader

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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.

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Quoting ira

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Hello everyone, long time not to see you!

Here is my take on EUR:

Interesting that on the daily price came to the 200, which it touched only in August of the previous year! But unlike last year, this year it went through 200 in one go. Could that be a signal of the whole trend change or price will start range around it? Anyway it's interesting that price went from 1.60 to the 1.52 in a month - 800 pips. It went down from the huge range channel which was established on the daily from 11/03/08 till yesterday, and may retest this point (1.5300). Price went down haivily without retracment, daily is very oversold. Price now sits on the price level, which is also a support.

Now 4h, beautiful down trend with 4 retracments to the 21, which means 4 positive trades. Price went very far from 8MA, but there is no signal for buy yet, there is a possibility of some retracment, but still it's too early. Here is the first sigh - doji, which is also a pin bar but still too early. MACD is also oversold.

So, I think there is possible long with first target 8MA, will wait fro RB and candles conformation. This is counter trend trade, so risky, that's why b/e must be put as soon as possible. There is always a chance that trend will continue to go on.

My plan:
long if there is RB signal and enough candle conformation, as it's a counter trend trade, so one lot only. 1TP is 8MA, then on trailing, SL below pin + spread + fudge factor.

if long will be too sharp, or there will be no long, I'll look for TC or BOZ to enter the trend.

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Quoting BIL2205

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Hmmmm... Was this what euro was aiming for , Support at trend line. Previous support found on 3 different occasions. Lets see how price acts around in this area.

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Quoting hijackxx

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My euro opinion:
euro could go down to 1.48xx where those previous triple top resistances are..

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Quoting ira

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Hello everyone, long time not to see you!

Here is my take on EUR:

Interesting that on the daily price came to the 200, which it touched only in August of the previous year! But unlike last year, this year it went through 200 in one go. Could that be a signal of the whole trend change or price will start range around it? Anyway it's interesting that price went from 1.60 to the 1.52 in a month - 800 pips. It went down from the huge range channel which was established on the daily from 11/03/08 till yesterday, and may retest this point (1.5300). Price went down haivily without retracment, daily is very oversold. Price now sits on the price level, which is also a support.

Now 4h, beautiful down trend with 4 retracments to the 21, which means 4 positive trades. Price went very far from 8MA, but there is no signal for buy yet, there is a possibility of some retracment, but still it's too early. Here is the first sigh - doji, which is also a pin bar but still too early. MACD is also oversold.

So, I think there is possible long with first target 8MA, will wait fro RB and candles conformation. This is counter trend trade, so risky, that's why b/e must be put as soon as possible. There is always a chance that trend will continue to go on.

My plan:
long if there is RB signal and enough candle conformation, as it's a counter trend trade, so one lot only. 1TP is 8MA, then on trailing, SL below pin + spread + fudge factor.

if long will be too sharp, or there will be no long, I'll look for TC or BOZ to enter the trend.

Ignored