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4 Hour Strategy (MACD)

  • #1,001
  • Feb 22, 2007 5:16am Feb 22, 2007 5:16am
Quoting DireXiv
entry on 30 min confirmation (ma cross and macd cross). Round formed on the 4 hour chart.

Entry: .7053

SL: .7070 (note the higher the tail, the higher the stop loss so "they" can't take us all out )

1st target of 2 lots at .7031
2nd target: .7015

Risk: 17 pips
Reward 1st: 21 pips
Reward 2nd: 37 pips

R:R = good, very small S/L required and previously pulled back to the 21 EMA, at the top of a daily chart double top candle pattern, and hit a horizontal resitance line the past 3-4 candles. Above 89 EMA so, it's a counter trend trade.

We'll see how it works.... low stop loss though... that I like.
I guess u now have some brand new pips in your pocket?
  • #1,002
  • Feb 22, 2007 5:19am Feb 22, 2007 5:19am
Phil,

Thanks for your help, I only wish I had the in sight to see this move. I guess I need to remember to move my trend lines. As you can see my chart looks different even though I am draw directly off the tops. I have adjusted and can see the move clearly now.

Jim
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  • #1,003
  • Feb 22, 2007 5:21am Feb 22, 2007 5:21am
Quoting turk87
tamkras: high five buddy!
vow! I woke up because my piggy's trough was empty and I need to bring her (yes, it is her) some more green. She prefers green as you might have noticed. I invite Turk to my humble country breakfast. On a serious note, if interested, please, go back to post 836. I was not kidding. Yours, Tamkras.

http://www.forexfactory.com/showthre...=14630&page=56
  • #1,004
  • Feb 22, 2007 5:35am Feb 22, 2007 5:35am
Quoting Phillip Nel
Some info
What are the best times to trade if in NYC (EST)?
  • #1,005
  • Feb 22, 2007 5:41am Feb 22, 2007 5:41am
Bisar, I will be going short on this as soon as it closes below the 1.600 price point as a continuation pattern shows up most likely.

I see why you went long, because it is a round top, but the price is below the 89, so it is in a downtrend "mood". That means if you take a long position, you can only really plan on it retracing back to the 8 ema or the 21 ema at best. Since this was it's first visit on retrace after hitting upper trendline, we can only really count on the 8 ema on this one... if it went to the 21 ema.... even better.

I hope you took partial profits at the 8 ema Let's sit back and see how it finished out.

Good luck!

Quoting bisar_x
also entred long 1 hour ago on usdcad price 1.1615, target at least 20 pips
MACD formed a nice roundet top
DireXiv Make it happen, no one else is going to do it for you...
  • #1,006
  • Feb 22, 2007 5:44am Feb 22, 2007 5:44am
The peace before storm on GBPUSD?
All MAs are together plus 1.95 level.
MACD on zero level.
I would not trade in this tensionate climate.
  • #1,007
  • Feb 22, 2007 5:48am Feb 22, 2007 5:48am
DireXiv, unfortunately i didnt take any profit. My mistake. Standing with -10 pips now. Im a newby but i try to learn as much as i can. Thanks for information about MAs.
  • #1,008
  • Feb 22, 2007 5:50am Feb 22, 2007 5:50am
nzd/usd: 9 pips on 2 lots and 27 on last lot = 45 total. I only took 9 pips cause I felt it was a little bit on shaky ground and a wanted to get that intial profit taken when I was sleeping.

eur/yen: 38 on two lots and one left riding at break even status = 72 total so far.

Thanks for pointint out the eur/yen guys (not sure who it was, but pat yourself on the back for me)

It's the scariest thing in the world to wake up and see all your trades have closed while sleeping.... until you can confirm your limits were taken out, not you stops!

Quoting bisar_x
I guess u now have some brand new pips in your pocket?
DireXiv Make it happen, no one else is going to do it for you...
  • #1,009
  • Feb 22, 2007 5:56am Feb 22, 2007 5:56am
I'm a relative newbie too, but Phillip has done such an excellent job throughout the thread, and combine that with the great additions and chart postings, and trade notifications from everyone else, I've done very well this week.

Keep at it, and I didn't want to sound critical either, just wanted to let you know what I was seeing and planning on. Everyone here gives good feedback. If you lose on this trade, take the loss, and learn from it. This week is the only week so far, my account has been up, so I definietly took some losses to get here

Quoting bisar_x
DireXiv, unfortunately i didnt take any profit. My mistake. Standing with -10 pips now. Im a newby but i try to learn as much as i can. Thanks for information about MAs.
DireXiv Make it happen, no one else is going to do it for you...
  • #1,010
  • Feb 22, 2007 6:02am Feb 22, 2007 6:02am
Quoting bisar_x
The peace before storm on GBPUSD?
All MAs are together plus 1.95 level.
MACD on zero level.
I would not trade in this tensionate climate.
I enjoy quietness, too, because it sometimes reminds me of an athlete (cable, i.e.) before... you guess the word. Just be careful with any long position at this time. Yours, Tamkras.
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  • #1,011
  • Feb 22, 2007 6:16am Feb 22, 2007 6:16am
Hey tamkras,

Are you saying beware of the long because the 89 crossed below on Monday, or are there other elements that would hold you back. For me, there is a trend line it's finding support on, and converging with another, but I also have a trend line below it and above it for a diamond pattern. So, I'm not sure where it will go still, but I also have a feeling shorting would be good. But not putting my money where my mouth is yet



Quoting tamkras
I enjoy quietness, too, because it sometimes reminds me of an athlete (cable, i.e.) before... you guess the word. Just be careful with any long position at this time. Yours, Tamkras.
Attached Image
DireXiv Make it happen, no one else is going to do it for you...
  • #1,012
  • Feb 22, 2007 6:24am Feb 22, 2007 6:24am
Looks like it's getting ready to pass through the 1.16 on a continuation pattern - a pretty big level to cross. If it crosses, I believe it will go to the lower Trendline eventually about 100 pips below. The stop loss would be a little heavy (very conservative) at around 1.1647 right above upper trend line and ema's

I have a sell order in at 1.1585 cause I have to go to work now haha. Normally I don't do "orders", but since it is a big level, and the tails haven't even really passed it more than a few pips, I think I'm safe.

Good luck today guys
DireXiv Make it happen, no one else is going to do it for you...
  • #1,013
  • Feb 22, 2007 6:26am Feb 22, 2007 6:26am
Quoting bisar_x
The peace before storm on GBPUSD?
All MAs are together plus 1.95 level.
MACD on zero level.
I would not trade in this tensionate climate.

The MACD has given us its feeling with it going zag zag over the zero line between the 15 horizontal lines. That tells us there is some tsunami building up.

There is a tail upwards and one downwards telling me that the going is even tough with the big ones. We will have to be sure of the true emotion before entering. Normally with such emotion the MACD signal is with a marginal one and then the big move. We will have to be alert contantly.
  • #1,014
  • Feb 22, 2007 6:39am Feb 22, 2007 6:39am
Great thread. Am I right in thinking EURUSD may retrace to 1.3115 (21EMA) and then fall to 1.3050?
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  • #1,015
  • Feb 22, 2007 7:00am Feb 22, 2007 7:00am
Quoting cgldsmth
Great thread. Am I right in thinking EURUSD may retrace to 1.3115 (21EMA) and then fall to 1.3050?

That would be the perfect scenario. Even if the MACD is going to give a round bottom there is not going to be space to the 21EMA for some profit with a good R:R ratio. I will favour a test of the 21EMA and then a downmove to the trendline it is sitting on now and if that is breached the 89SMA. MACD will give entry
  • #1,016
  • Feb 22, 2007 7:01am Feb 22, 2007 7:01am
Quoting bisar_x
standing with 50% on euro 55 pips. The news was good for euro but, the it moved up by only 10 pips and now is falling. Obviously the trend is short.
Sorry, i saw the 15 min chart. After breaking the 89 on 4h we can say that we have a trend change.
great trade, bisar_x, i have noticed too that many time the news doesnt seem to matter so i quit trading news altogether and now just follow the graph instead and am doing better.
  • #1,017
  • Feb 22, 2007 7:07am Feb 22, 2007 7:07am
the charts look very different depending on the broker's time. eg look at IBFX and FXDD at the moment.
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  • #1,018
  • Feb 22, 2007 7:21am Feb 22, 2007 7:21am
Was stopped out @ 1.3106

Entered at 1.3127 @ stopped out at 1.3106 = 19 pips gain
  • #1,019
  • Feb 22, 2007 7:29am Feb 22, 2007 7:29am
Quoting Phillip Nel
Was stopped out @ 1.3106

Entered at 1.3127 @ stopped out at 1.3106 = 19 pips gain
I was stoped at the same level. Anyway +35 pips.
  • #1,020
  • Feb 22, 2007 7:35am Feb 22, 2007 7:35am
the 21E<A has an 18 pip difference depending on the broker's time set. My live account with IBFX came close. Hopefully will now head down to 3050. I also use a 5EMA close and open cross on H4 which backtests very well. This is also signalling a bearish reversal.
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