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4 Hour Strategy (MACD)

  • #1,101
  • Feb 22, 2007 11:08pm Feb 22, 2007 11:08pm
Quoting tamkras
Hi everyone, it's been my great pleasure to be part of this marvellous MACD adventure. I hope I was able to contribute to this great forum of talented people and helped someone with small pips. I intend to sign off for about 2 weeks and forgive me if my jokes and wild imagination sometimes were a bit off topic. Good luck to you all! Yours, Tamkras.

Tamkras, enjoy your rest. I hope to see you again here soon.
  • #1,102
  • Feb 23, 2007 1:20am Feb 23, 2007 1:20am
smnitro1, it looks like a some kind of a head and shoulders but is below 0.0015 level and this could be risky. Also, important news is coming in less than 2 hours and the tension in great. I belive that taking now a trade would be a fifty-fifty chance. I stay out. Guys, what do u think?
  • #1,103
  • Feb 23, 2007 1:27am Feb 23, 2007 1:27am
Quoting bisar_x
smnitro1, it looks like a some kind of a head and shoulders but is below 0.0015 level and this could be risky. Also, important news is coming in less than 2 hours and the tension in great. I belive that taking now a trade would be a fifty-fifty chance. I stay out. Guys, what do u think?
I agree I would wait for the news It been ranging fro 9 hrs now dont see any movement for another hour!
  • #1,104
  • Feb 23, 2007 1:28am Feb 23, 2007 1:28am
Quoting smnitro1
Could this signal be taken as a head and shoulders pattern?

Not finished yet on my platform but it is inbetween the 15 horizontal lines indicating a weak signal. The price has also found resistance against the 21EMA.
I will skip it. There is enough better chances still to come.
  • #1,105
  • Feb 23, 2007 2:18am Feb 23, 2007 2:18am
I see you're taking that vacation now that you made all those pips! haha Enjoy your time off and look forward to having you back!

Quoting tamkras
Hi everyone, it's been my great pleasure to be part of this marvellous MACD adventure. I hope I was able to contribute to this great forum of talented people and helped someone with small pips. I intend to sign off for about 2 weeks and forgive me if my jokes and wild imagination sometimes were a bit off topic. Good luck to you all! Yours, Tamkras.
  • #1,106
  • Feb 23, 2007 3:05am Feb 23, 2007 3:05am
Quoting Phillip Nel
To see all documents and attachments click downarrow next to page 72 on top and go to page55 and see post 812 and 814.

Good luck
Hi Phillip

Tx for the directions/payways to the documents. I'll look at it this week-end. From what I've seen so far, the best system yet tested by me. I just need to get the feel for it and I am definitely going to run with it. Hopefully I would be able to join the discussion shortly. I am still struggling with the intepretation of candles and trendlines.

Greetings from the centre of South Africa. Well done!

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,107
  • Feb 23, 2007 3:18am Feb 23, 2007 3:18am
So,after the news the system says that EUR will go up???
  • #1,108
  • Feb 23, 2007 4:04am Feb 23, 2007 4:04am
I closed my short position on USD/JPY at breakeven. Didn't like the bounce of the 8ema while in an uptrend.
  • #1,109
  • Feb 23, 2007 4:12am Feb 23, 2007 4:12am
Quoting Tw0eleven
I closed my short position on USD/JPY at breakeven. Didn't like the bounce of the 8ema while in an uptrend.
Exactly what i think. And a huge tail is in my mind right now.
It could go to test TL at 122.0
  • #1,110
  • Feb 23, 2007 4:16am Feb 23, 2007 4:16am
Quoting kyriakos
So,after the news the system says that EUR will go up???
The system can never say which way it will move before news is anounced. If the MACD shows a long signal before important news is coming out it might be that the news has been known to people and they have already started to act.

I will never trade news with this 4hour system. There are other systems build for news trading. Learn which news have great influence on the price of a currency and avoid having open position at that time that is not profitable at the time of the news. If I have an open position that is profitable I will move my stop closer to the action that should the news turn it around I will get stopped out for a profit, but should it run with my position I will be in it.
  • #1,111
  • Feb 23, 2007 4:21am Feb 23, 2007 4:21am
Now we have a real head and shoulders on eurusd. But wait until the candle is closed.
I can see the charts from 2 different brokers and they look a little bit different. But they are close enought.
  • #1,112
  • Feb 23, 2007 4:27am Feb 23, 2007 4:27am
Quoting Tw0eleven
I closed my short position on USD/JPY at breakeven. Didn't like the bounce of the 8ema while in an uptrend.
You have just made a winning decision. When not sure close the position and if you can do that at breakeven you have win. It might turn out to be still a down move but if I have to make a trade I will wait for move below the 21EMA and a Lower High of the MACD and then go to 200-89SMA or a trend continuation at the 21EMA to go long to top trendline
  • #1,113
  • Feb 23, 2007 4:53am Feb 23, 2007 4:53am
Something on drawing trendlines
Attached File(s)
File Type: pdf Trendline Drawing.pdf   114 KB | 2,677 downloads
File Type: zip Drawing Trendlines.zip   777 KB | 2,366 downloads
  • #1,114
  • Feb 23, 2007 5:24am Feb 23, 2007 5:24am
Hi Phillip,

Silly question for you....Just listened to your mp3 on trendlines (great as always), and you said when you see a tail and a signal on MACD is generated after the candle, take it. Does this mean in direction of tail? Cable has long downward tail on current candle, so a sell signal would be good or bad?

Also, would you take a signal now or wait until Sunday night?

Thank you so very much for all you do for us! You are AWESOME!

Have a great weekend!!!
  • #1,115
  • Edited 5:43am Feb 23, 2007 5:33am | Edited 5:43am
Quoting pips4uandme
Hi Phillip,

Silly question for you....Just listened to your mp3 on trendlines (great as always), and you said when you see a tail and a signal on MACD is generated after the candle, take it. Does this mean in direction of tail? Cable has long downward tail on current candle, so a sell signal would be good or bad?

Also, would you take a signal now or wait until Sunday night?

Thank you so very much for all you do for us! You are AWESOME!

Have a great weekend!!!
On my platform it gave tails bothways(indesicion as to direction) with the MACD giving a marginal long signal.

It is important as to where the tail occurs in relation to support and resistance. If the tail id going down below the 21EMA for instance in a uptrend the MACD will confirm a long signal or with the next bar and then you go long.

I will do a Mp3 on tails as I get a lot of questions about it.


IT IS FRIDAY AFTERNOON SOUTH AFRICAN TIME AND THE MARKET HAS BEEN QUITE FOR SOME TIME SO DON'T BE SURPRISED IF "THEY"(Still have to figure out who they really are) ARE GOING TO MOVE THE MARKET 2 CANDLES BEFORE CLOSING TIME AS THEY KNOW THE SMALL GUYS(Thats me and you and the Guls) ARE AFRAID TO TAKE DEALS AND LET IT OPEN OVER THE WEEKEND. JUST HAVE THAT FEELING. WILL WAIT AND SEE.
  • #1,116
  • Feb 23, 2007 5:34am Feb 23, 2007 5:34am
Quoting Phillip Nel
Something on drawing trendlines
Phillip,

I have been trading for a year. Have read books, gone to seminars, et, etc. And this is the best explanation on how to draw TL. You are a true master in your craft!!!

I am looking forward to your candle patterns document. Can hardly wait!!!

Again, thanks a lot for sharing.
  • #1,117
  • Feb 23, 2007 5:52am Feb 23, 2007 5:52am
Phil,
You are talking about the 8:00 GMT red candle with the dual wicks, right. Im seeing that and the 12:00 GMT green unfinished candle with wick on top. Yust trying to see how close your broker platform is with mine.

Thanks, Jim
Attached Image
  • #1,118
  • Edited 6:16am Feb 23, 2007 5:56am | Edited 6:16am
Phillip,

Thanks for the answer on tails. The current candle on my chart is almost tweezer top & a hammer. MACD is signaling short (candle looks like it is going to close about 30 pips from resistance). Think I became confused b/c I just finished reviewing Nison's book on candlesticks and reallly paid attention to the tails ("rising and falling in agony" as he refers to some of the patterns ) I had the same feeling as you regarding what "they" will probably do during NY ...and since there isn't anything on the US calander, figured trading could be a bad idea. Sleep sounds better, since it is 3:50 AM where I live. Hope you have a great weekend and that you don't think about trading the whole time!

Best to you!
Pips

ps. after looking at my expanded chart....candle is only hammer not tweezer top...
  • #1,119
  • Feb 23, 2007 6:04am Feb 23, 2007 6:04am
FYI

Here is the chart....very different than the one posted by hard1head1...yet the signals work for us all!!!

Also, the short signal changed between writing original post and saving chart. Shows the importance of waiting for close!

GBPUSD at close of 12:00 GMT candle
Attached Image
  • #1,120
  • Feb 23, 2007 6:13am Feb 23, 2007 6:13am
Pip,

Thanks for the insight, that is different than mine. I will not trade on Friday, never have and never will, except of course non-farm. I appreciate seeing things like this. Have a good week end and thanks again.

Jim
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