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4 Hour Strategy (MACD)

  • #541
  • Feb 13, 2007 4:12pm Feb 13, 2007 4:12pm
tamkras
I went long with gbp/usd from 1.9442
according to this thread i'll keep inside till the macd give me a sign to close is
but in the last discations >>> i see phill and other was talking about taking profit @ 1.9488

will u plz explain that to me
If you count on hope in any trade ……. Get out of it
  • #542
  • Feb 13, 2007 4:17pm Feb 13, 2007 4:17pm
special thanks to fnmdx for the indicator - a better visual for the eyes (they need some rest sometimes!).

I'm interested to see if usd/cad will pull out and make some nice double-bottom on the MACD. I will see it within the next 2-3 bars to confirm a reversal. MACD pattern provided ideal set-up for the short trade when the pair bounced off 200SMA - there was enough time to enter as opposed to the recent, almost instantenous, eurodollar and cable movements, the signal was there on the MACD but for many it was a missed signal. Just my thoughts.

I went long with cable @1.9455 - was away from the computer but still saw an opportunity to jump in. I like the previous 4HR inside candle.
  • #543
  • Feb 13, 2007 4:23pm Feb 13, 2007 4:23pm
Quoting mandoaddam
tamkras
I went long with gbp/usd from 1.9442
according to this thread i'll keep inside till the macd give me a sign to close is
but in the last discations >>> i see phill and other was talking about taking profit @ 1.9488

will u plz explain that to me
thats where the 365EMA is (+- 2 to 3 pips)....could act as a barrier..
  • #544
  • Feb 13, 2007 4:30pm Feb 13, 2007 4:30pm
thanks shazzz
so do u think I close half of my posetions @ 1.9488
and stay with the other half
or it's gona retrace from there

...........................
by the way usd / cad making double bottom and have a divergance to
If you count on hope in any trade ……. Get out of it
  • #545
  • Feb 13, 2007 4:38pm Feb 13, 2007 4:38pm
Quoting Shazzz
thats where the 365EMA is (+- 2 to 3 pips)....could act as a barrier..
that's correct. As confirmed by Phillip this is a counter-trend trade and there are many barriers on the way up. Partial profit-taking has already started from 1.9472 - you can easily see it now happening (Phillip said about this fib level quite recently), there are 3 other barriers on the way up, 21SMA, price level 1.9500 and 365SMA. At each of these levels a further downtrend may resume. Trend is our friend. A tight stop (trailing stop) might help lock in some profits if you are away from the computer and downtrend is resumed. But, there will be a zillion of other chances.
  • #546
  • Edited 4:56pm Feb 13, 2007 4:40pm | Edited 4:56pm
10:40 GMT

I didnt' know if anyone else was watching this, or i would have posted to get all your thoughts. I actually just got in. although early, it seems to be a good forming trade, lower/higher, against trend line (although recent, it still has 3 hits, and feel really confident when good T/L's are in play), and the 365 is right below the trend line, so my stop is...

Edit: my platform shows an upward closing candle... yours may not.... I didn't check my MIG demo account before making the trade... my mistake.

-just below the 365, and outside the trendline at 1.1644.
-I went long at 1.1673,
-and my target for first profit is - 1.1708 for 35 pips,
-and final target to complete the trade is 1.1734 for 61 pips
-RR: 30 pip risk with 35 pip at first take = good and 61 pip potential = good.

We'll see how it ends up working out. It looks like the gbp/usd setups we've done well on today. Again, I"'m in early (not sure why exactly just seemed good setup), so.... at your own risk at this point.

Edit: Adding Chart

Quoting tamkras
special thanks to fnmdx for the indicator - a better visual for the eyes (they need some rest sometimes!).

I'm interested to see if usd/cad will pull out and make some nice double-bottom on the MACD. I will see it within the next 2-3 bars to confirm a reversal. MACD pattern provided ideal set-up for the short trade when the pair bounced off 200SMA - there was enough time to enter as opposed to the recent, almost instantenous, eurodollar and cable movements, the signal was there on the MACD but for many it was a missed signal. Just my thoughts.

I went long with cable @1.9455 - was away from the computer but still saw an opportunity to jump in. I like the previous 4HR inside candle.
Attached Image
DireXiv Make it happen, no one else is going to do it for you...
  • #547
  • Feb 13, 2007 4:46pm Feb 13, 2007 4:46pm
10:42 gmt

Exactly, I took 20 pips early profit with 1 lot and I'm hoping it will make it up to my second tartget at 1.9490. My stop is moved up since I already took profit so that even if it completely resumes the downtrend aggressively, I take away 5-10 pips on my last lot.

Attached is my current trade still on... you can see my "in", and what I now have for "outs" and the pip values at those points.

Quoting tamkras
that's correct. As confirmed by Phillip this is a counter-trend trade and there are many barriers on the way up. Partial profit-taking has already started from 1.9472 - you can easily see it now happening (Phillip said about this fib level quite recently), there are 3 other barriers on the way up, 21SMA, price level 1.9500 and 365SMA. At each of these levels a further downtrend may resume. Trend is our friend. A tight stop (trailing stop) might help lock in some profits if you are away from the computer and downtrend is resumed. But, there will be a zillion of other chances.
Attached Image
DireXiv Make it happen, no one else is going to do it for you...
  • #548
  • Feb 13, 2007 5:04pm Feb 13, 2007 5:04pm
for what it's worth, you may take a look at the usd/yen. It's starting up, and the macd is starting to round. It's above 89 EMA, so the "mood" is up, and it looks like it will continue and bounce off the 89 EMA. The pair has face resistance up to 122.00 twice forming a candle double top, which would give a move of around: 59 pips with very little stop loss if it does fully form.

I traditionally haven't really like to trade this pair all that much, but keep your eyes on it!

Ben
DireXiv Make it happen, no one else is going to do it for you...
  • #549
  • Feb 13, 2007 5:04pm Feb 13, 2007 5:04pm
I was just wondering, is anybody trading live here?

Because I hear it everywhere, I just made 100 pips, and so forth. But then it turns out that it was all worth like 30 bucks with some micro account and even that was on demo.

This system seems to be worth it try it live.
  • #550
  • Feb 13, 2007 5:12pm Feb 13, 2007 5:12pm
I have only a min accoutn, but with multipl lots I made a couple hundred $ today.....

Quoting irusoh
I was just wondering, is anybody trading live here?

Because I hear it everywhere, I just made 100 pips, and so forth. But then it turns out that it was all worth like 30 bucks with some micro account and even that was on demo.

This system seems to be worth it try it live.
DireXiv Make it happen, no one else is going to do it for you...
  • #551
  • Feb 13, 2007 5:16pm Feb 13, 2007 5:16pm
Anyone still holding on to the EUR.USD pair? It's feeling a little topish I am thinking of selling soon. If it forms a round top I'll reverse my position ;-)
  • #552
  • Feb 13, 2007 5:28pm Feb 13, 2007 5:28pm
I took all my profit awhile back, but my chart does show a pretty heavy horizontal resistance line around 1.3032. I would look to short it on the turn around, but I"m starting to feel a little uncomfortable with the converging triangle the trend lines are forming. Thoughts?



Quoting turk87
Anyone still holding on to the EUR.USD pair? It's feeling a little topish I am thinking of selling soon. If it forms a round top I'll reverse my position ;-)
DireXiv Make it happen, no one else is going to do it for you...
  • #553
  • Feb 13, 2007 5:36pm Feb 13, 2007 5:36pm
Sit out and wait. If it breaks above these levels I think its a pretty solid bulish indicator, I would buy there. 1.3050 ish.. I use this similar chart pattern in my swing trading for stocks, if it breaks above the resistance and is forming an ascending triangle, without hesitation I buy.

As for myself I'm going to hang on to my position untill it forms a round top. I do have a funny feeling its going to break above this resistance in the not too distant future
  • #554
  • Feb 13, 2007 5:40pm Feb 13, 2007 5:40pm
I would agree.... I have a T/L that is sitting at about 1.3150 right now, that I believe it will reach soon.... expecially since we are seeing the converging triangle of T/L's. Although I'm out, we're now above the 89 EMA which means a positive market "mood" and any long signal I'll take.

Quoting turk87
Sit out and wait. If it breaks above these levels I think its a pretty solid bulish indicator, I would buy there. 1.3050 ish.. I use this similar chart pattern in my swing trading for stocks, if it breaks above the resistance and is forming an ascending triangle, without hesitation I buy.

As for myself I'm going to hang on to my position untill it forms a round top. I do have a funny feeling its going to break above this resistance in the not too distant future
DireXiv Make it happen, no one else is going to do it for you...
  • #555
  • Feb 13, 2007 6:16pm Feb 13, 2007 6:16pm
Quoting DireXiv
10:42 gmt

Exactly, I took 20 pips early profit with 1 lot and I'm hoping it will make it up to my second tartget at 1.9490. My stop is moved up since I already took profit so that even if it completely resumes the downtrend aggressively, I take away 5-10 pips on my last lot.

Attached is my current trade still on... you can see my "in", and what I now have for "outs" and the pip values at those points.
Now, we know who caused this little dip.. just kidding, DireXiv. I think I will hold this cable long for now. Maybe, I am wrong.
  • #556
  • Feb 13, 2007 6:46pm Feb 13, 2007 6:46pm
Eur.Usd Looks like its coiled and ready to spring.
  • #557
  • Feb 13, 2007 7:02pm Feb 13, 2007 7:02pm
Quoting irusoh
I was just wondering, is anybody trading live here?

Because I hear it everywhere, I just made 100 pips, and so forth. But then it turns out that it was all worth like 30 bucks with some micro account and even that was on demo.

This system seems to be worth it try it live.
3 live trades using MACD 4hr system:

eurodollar + 22 pips, too early exit;
cable + 72 pips;
cable - 23 pips.

total: 71 pips gain.

p.s. this board is serious about making money using the MACD 4HR strategy. it's ok to demo the trades, too, until someone feels comfortable.
  • #558
  • Feb 13, 2007 7:16pm Feb 13, 2007 7:16pm
Quoting DireXiv
10:40 GMT

I didnt' know if anyone else was watching this, or i would have posted to get all your thoughts. I actually just got in. although early, it seems to be a good forming trade, lower/higher, against trend line (although recent, it still has 3 hits, and feel really confident when good T/L's are in play), and the 365 is right below the trend line, so my stop is...

Edit: my platform shows an upward closing candle... yours may not.... I didn't check my MIG demo account before making the trade... my mistake.

-just below the 365, and outside the trendline at 1.1644.
-I went long at 1.1673,
-and my target for first profit is - 1.1708 for 35 pips,
-and final target to complete the trade is 1.1734 for 61 pips
-RR: 30 pip risk with 35 pip at first take = good and 61 pip potential = good.

We'll see how it ends up working out. It looks like the gbp/usd setups we've done well on today. Again, I"'m in early (not sure why exactly just seemed good setup), so.... at your own risk at this point.

Edit: Adding Chart
waiting for positive 4HR cable close and confirmed MACD pattern. At this stage, I am not sure. Seems like this thing fell really hard and needs some rest...
  • #559
  • Feb 13, 2007 7:23pm Feb 13, 2007 7:23pm
funny, if you would switch cable chart right now from 4HR to daily with all the SMA's in place, you will see it is sitting right on 89SMA, plus there is yesterday's doji.
Attached Image
  • #560
  • Feb 13, 2007 7:29pm Feb 13, 2007 7:29pm
Quoting irusoh
I was just wondering, is anybody trading live here?

Because I hear it everywhere, I just made 100 pips, and so forth. But then it turns out that it was all worth like 30 bucks with some micro account and even that was on demo.

This system seems to be worth it try it live.
I've been live for 1 week. Trading 10 mini lots per trade. Look at the results!!!!!

EUR/USD +22
USD/CHF +80
GBP/USD +72
EUR/USD +33
USD/JPY +20
GBP/USD +10
USD/CHF +17

Total Pips for 1 week = 254, 7 winning trades, 0 losers

Could have been more, and will be as I continue to refine my exit strategies. A lot of pips were left on the table, but more importantly, no losing trades. The most difficult part of the Forex market is the entry points. This system completely takes the guess work out of the entry. Study the thread, study the charts, if not comfortable, paper trade, paper trade, paper trade....... Patience is a virtue with this system. Let the trades come to you. If they are not there, leave.

Phillip......you're the man!!!!
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