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4 Hour Strategy (MACD)

  • #16,761
  • Aug 26, 2008 1:28pm Aug 26, 2008 1:28pm
Quoting Palmer
Phillin:

Keep an eye on hurricane Gustav. If the oil platforms are shut down in the Gulf of Mex, oil could spike and weaken the $..

Just my 2 cents.

Thanks Palmer. Will keep an eye on that.
Phillip
  • #16,762
  • Edited Aug 27, 2008 2:06am Aug 26, 2008 1:48pm | Edited Aug 27, 2008 2:06am
euro trade made today.I get another TC signal, so will hold it longer.

Attached Image (click to enlarge)
Click to Enlarge Name: eu26.gif Size: 24 KB


edit:
SL hit +63
total : (73+63)/2 = 68 pips
  • #16,763
  • Aug 26, 2008 1:53pm Aug 26, 2008 1:53pm
Quoting Palmer
Phillin:

Keep an eye on hurricane Gustav. If the oil platforms are shut down in the Gulf of Mex, oil could spike and weaken the $..

Just my 2 cents.

Thank you! It also looks like the € is moving slightly up from here. My MACD is also pointing up again.

Your last post was very nice - how you used the 1hr chart to go long like eTrader. I was about to ask whether someone took that one.
  • #16,764
  • Aug 26, 2008 2:45pm Aug 26, 2008 2:45pm
Do you see double bottom and Divergence forming in MACD for cable ?
  • #16,765
  • Edited 3:01pm Aug 26, 2008 2:57pm | Edited 3:01pm
Quoting Saurabh_g
Do you see double bottom and Divergence forming in MACD for cable ?
Interesting that we have divergence too. Sorry! Just realised you said that too Saurabh!
Oh well, the chart will help everyone
Attached Image
If it's too good to be true, it probably is.
  • #16,766
  • Aug 26, 2008 3:33pm Aug 26, 2008 3:33pm
Quoting Palmer
Phillin:

Keep an eye on hurricane Gustav. If the oil platforms are shut down in the Gulf of Mex, oil could spike and weaken the $..

Just my 2 cents.
more hurricanes are coming
just take a look on that.
http://www.nhc.noaa.gov/

btw, tx palmer for the good job in the thread and the blog tx phillip too

gl and nice piping

abd

p.s sorry about my english
  • #16,767
  • Aug 27, 2008 3:06am Aug 27, 2008 3:06am
Long CFD Trade EUR/USD Date 27/08/2008
Time: 07:12:55h (Local time 09:12:55h)

The setup for this wednesday morning:

Target2 mid BB= 1.4734 (Profit 45 pips)
Target1 ema21(red)= 1.4722 (Profit 33 pips)
Price= 1.4689
Stop loss= 1.4656 (-33 pips)

Chart 8h macd pattern= Round Bottom(RB), >5bars
Chart 4h macd pattern= rising above zero, 2bars
Chart 1h macd pattern= TC Trend Continue, BOZ
Chart15m macd pattern= Round Bottom RB

Stoploss was moved to 1.4671
Target1 reached at 1.4722

Profit= +33 pips

With an amount of 500000 CFD's, profit = 1650 USD (1120 EUR)

Watched also the CLX8 - WTI Crude Oil.
Oil was rising, so EUR/USD was going up also, EU50U8 EU Stocks 50 down.

Trade well,
eTrader
Attached Image (click to enlarge)
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  • #16,768
  • Edited 4:43am Aug 27, 2008 4:02am | Edited 4:43am
This is my eurjpy trade I am in this morning. Short @ 160.22.
Macd trend continuation pattern on the 4hr. 1hr confirmed the same earlier (thus slightly early entry). The 4hr candles are using the 8 ema as nice resistance.

First target 30 pips, 2nd target 159.50 which is the first resistance area I can see on the daily chart.

Forgot to add we have a flat bottomed triangle that could possibly break out to the downside.
Attached Image (click to enlarge)
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If it's too good to be true, it probably is.
  • #16,769
  • Aug 27, 2008 5:15am Aug 27, 2008 5:15am
Quoting eTrader
Chart 8h macd pattern= Round Bottom(RB), >5bars
Chart 4h macd pattern= rising above zero, 2bars
Chart 1h macd pattern= TC Trend Continue, BOZ
Chart15m macd pattern= Round Bottom RB
I have to say, all your charts macd patterns are quite different than me. At 4h chart, the previous candle is a shorting star, I also can't find any long signal at 1h. I find that most of your trades are CT, this is risk for me, and you alsways find right point when trend begins to reserve. Could you give us some tips?
Attached Image(s) (click to enlarge)
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Plan your trades and trade your plans
  • #16,770
  • Aug 27, 2008 7:20am Aug 27, 2008 7:20am
Beautiful setup this morning for you Euro Pound traders.
Attached Image (click to enlarge)
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  • #16,771
  • Aug 27, 2008 8:05am Aug 27, 2008 8:05am
Watching for a possible short on the EU. 4hr at resistance and the one 1hr in the channel. If the bottom of the channel is broken we might re-visit the lows earlier. This hurricane and the oil market jitters is keeping me a little tentative about this but we'll see...

Just fixed that Fibo 0% line...
Attached Images
  • #16,772
  • Aug 27, 2008 9:47am Aug 27, 2008 9:47am
I am with you on that one Palmer. Watch out for that hurricane
  • #16,773
  • Aug 27, 2008 9:51am Aug 27, 2008 9:51am
Damn, I passed on what looked like good trades on the EURUSD and the GBPUSD (and I would have made easily my 20 pips within the first 45 minutes of the trade), due to the Hurricane and how I cannot see the USD being strong right now.

I wonder if the Hurricane news just is not important enough to traders, if it hasn't been taken into account yet, or if there are just so many on vacation that the markets are off the norm.
  • #16,774
  • Aug 27, 2008 11:27am Aug 27, 2008 11:27am
When the MACD comes down towards the

Zero line and turn back up just above the
Zero line it is normally a trend continuing
and should be taken and are normally a

strong move.
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  • #16,775
  • Edited 2:34pm Aug 27, 2008 11:37am | Edited 2:34pm
Ihave taken a short position on euro. It is a little late in the day. but recently the satups have been around 1200 or 1600 candle. this trade is on Interbank GMT.
There was a false breakout to the top of the trend line, price did not reach the 89. MAcd has shown us a ZERO break, which is a strong signal. Price is at an important trend line on the daily chart. I am taking the odds on of the trend line breaks next trend line is around 1.4490 area. Lets see.
Entry is at 1.4682( 3 micro lots. )
SL 1.4714 & 1.4725
TP 1= 1.4662 +20
2 =1.4652 +30
3= open. (will move to BE after 20 pips and let run)

EDIT 1 . First stop loss hit -32pips
EDIT 2 : 2nd stop loss hit ,.-42(2 positions)
Average loss -39.3 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: euro today.jpg Size: 202 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #16,776
  • Aug 27, 2008 12:02pm Aug 27, 2008 12:02pm
unlv tj: There will be another set-up in the future. Be happy that you recognized the fact to go short. We can't catch 'em all...

mr. krai, Nadia...BINGO.

vette: I like where I live, X marks the spot but things like this get me nervous. There calling for this to be a Cat 3 hurricane (111 - 130 mph winds) by Monday morning. We barely got a drop out of Fay, this my be a little different. Surprised by the minimal move in oil and $ strength though...
Attached Image
  • #16,777
  • Aug 27, 2008 12:04pm Aug 27, 2008 12:04pm
Excuse my bad English, that was a band I think..That should have been they're not there....
  • #16,778
  • Aug 27, 2008 12:17pm Aug 27, 2008 12:17pm
Palmer, do you think the minimal move in the USD and Oil, with this hurricane ready to pounce is due to so many traders being on vacation this time of year?
  • #16,779
  • Aug 27, 2008 1:07pm Aug 27, 2008 1:07pm
Quoting Palmer
unlv tj: There will be another set-up in the future. Be happy that you recognized the fact to go short. We can't catch 'em all...

mr. krai, Nadia...BINGO.

vette: I like where I live, X marks the spot but things like this get me nervous. There calling for this to be a Cat 3 hurricane (111 - 130 mph winds) by Monday morning. We barely got a drop out of Fay, this my be a little different. Surprised by the minimal move in oil and $ strength though...
Take care. Looks quite dangerous.
  • #16,780
  • Aug 27, 2008 1:11pm Aug 27, 2008 1:11pm
The bottom track doesn't look good to me. I live south of Houston. I guess we will know more this weekend.
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