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4 Hour Strategy (MACD)

  • #1,241
  • Feb 25, 2007 7:17pm Feb 25, 2007 7:17pm
Thanks DireXiv,

I too am wary of the direction based on the signals given at the moment.

EUR_USD is at the resistance point where it has failed a few times and the hourlies are o/s (stochastics)...could be consolidating for another run up. MACD currently showing trend continuation...Think I'll wait for a better signal and maybe look for a counter trend trade.

Cable too looks to be consolidating and may make a run up to 1.9700 area before hiting resistance and retracing. MACD giving a marginal rounding pattern, but I think I'll wait to see what happens later today. Maybe I can sell at a higher price and target the lower trendlines at 1.9578 and 1.9476.

Swissie too is at a TL support w/trend continuation signal on MACD. A break below 1.2399 could see the pair fall. A retrace to the MA's around 1.2355 would be a better sell point (think the pair may retrace a bit before continuing down).

With my thoughts go indecision....which means I will wait for better signals and clues to direction...and better entry points.

Thanks for letting me rationalize out loud.
  • #1,242
  • Feb 25, 2007 7:19pm Feb 25, 2007 7:19pm
eurusd just broke through fib and trend. Macd looks good. Breakout?
Anyone?
  • #1,243
  • Feb 25, 2007 7:21pm Feb 25, 2007 7:21pm
Hi Direx and everybody,

Any suggestion as to where Euro and cable heading?
  • #1,244
  • Feb 25, 2007 7:21pm Feb 25, 2007 7:21pm
Quoting irusoh
Everyone is boasting their success here, so here it is:

I managed to grab pips on USDJPY double-top.

sell halflot for +23
another half +32

probably could have held longer but +55 not bad for a start.
Awesome job!!

Think we are all posting our trades for accountability purposes, and just so happen to be using the system successfully!!! The last few weeks have been great for many of us. Hope the numbers stay positive (and they should if we continue to look for good signals and don't chase by following weaker ones!!)
  • #1,245
  • Feb 25, 2007 7:24pm Feb 25, 2007 7:24pm
Quoting smnitro1
eurusd just broke through fib and trend. Macd looks good. Breakout?
Anyone?
its only 1 pip above where it has failed 4 times before...could be breakout and could be fakeout! Real market movers haven't come on line yet...expect stops to be run from new long orders being placed right now....just my thoughts...and I am a little cautious....
  • #1,246
  • Feb 25, 2007 7:46pm Feb 25, 2007 7:46pm
Quoting pips4uandme
its only 1 pip above where it has failed 4 times before...could be breakout and could be fakeout! Real market movers haven't come on line yet...expect stops to be run from new long orders being placed right now....just my thoughts...and I am a little cautious....
How much should it go up past the 4 failed times before before letting it ride long. I could close out now with 14 pips.
Your thoughts?
  • #1,247
  • Feb 25, 2007 8:35pm Feb 25, 2007 8:35pm
GBP/USD
Does anybody think will be getting a short signal to 1.9600 possibly 21 ema if this candle closes low and if R:R is ok, because it looks like its bouncing off the trend line.
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  • #1,248
  • Edited 8:51pm Feb 25, 2007 8:39pm | Edited 8:51pm
I would agree, and I do think it looks to be a "good" trade if it remains where it is. Two things that I have in my notes though: The daily MACD is just crossing through 0 in an uptrend (which may not mean much because.... we are in an uptrend, and we're countertrading), and the R:R maybe should take into consideration the 200 SMA. That is my first profit taking level. I just feel better using that as my first level because I believe it may at the very least hesitate at this level if it comes down.

Edit: I very well be mistaken, but I believe this would be where market rythm on this pair would be something that would be coming into play at this point also looking at a downtrend coming very soon? Forgive me, as I have just started tyring to use this as secondary knowledge during trades.

http://forex.direxivengineering.com/...es/gbpusd1.htm

Quoting supaq
GBP/USD
Does anybody think will be getting a short signal to 1.9600 possibly 21 ema if this candle closes low and if R:R is ok, because it looks like its bouncing off the trend line.
DireXiv Make it happen, no one else is going to do it for you...
  • #1,249
  • Edited 9:11pm Feb 25, 2007 8:52pm | Edited 9:11pm
Quoting smnitro1
How much should it go up past the 4 failed times before before letting it ride long. I could close out now with 14 pips.
Your thoughts?
Hi smnitro1!

Great job on the 14 pips!

This is just my thoughts, and really doesn't mean anything.....

First, how's your r:r? If it's good, let the trade ride and move your stop to BE if your entry was around 1.3160.

If you have multiple lots, maybe close a couple out for the 14 pips and move stop to BE to give the lots chance to run if that is the way London chooses to go.

Basically, go with your analysis, and do what you feel is right based on your r:r. For me, right now, and with the opening price available when my time zone came on line, the r:r doesn't work out. Thus, I don't get to enter a trade, but will wait for a good signal on my charts.

Wishing you a huge breakout!

p.s. Stick with your plan. You did the analysis and have to follow what you think is right and not listen to the likes of me. Sorry if I added info to confuse you...I totally appologize.
  • #1,250
  • Feb 25, 2007 8:55pm Feb 25, 2007 8:55pm
Quoting DireXiv
I would agree, and I do think it looks to be a "good" trade if it remains where it is. Two things that I have in my notes though: The daily MACD is just crossing through 0 in an uptrend (which may not mean much because.... we are in an uptrend, and we're countertrading), and the R:R maybe should take into consideration the 200 SMA. That is my first profit taking level. I just feel better using that as my first level because I believe it may at the very least hesitate at this level if it comes down.

Edit: I very well be mistaken, but I believe this would be where market rythm on this pair would be something that would be coming into play at this point also looking at a downtrend coming very soon? Forgive me, as I have just started tyring to use this as secondary knowledge during trades.

http://forex.direxivengineering.com/...es/gbpusd1.htm

Thanks for the reply i know we are in an up trend was also thinking it may just stop at the 200 SMA and give a trend continuation
  • #1,251
  • Feb 25, 2007 9:06pm Feb 25, 2007 9:06pm
The cable looks like a short to me!
  • #1,252
  • Feb 25, 2007 9:10pm Feb 25, 2007 9:10pm
Agreed. First target area around 1.9605, then 1.9675, if it goes farther...I was think 1.9650-30 area.

just becareful because we are coming out of the weekend.

Quoting turk87
The cable looks like a short to me!
  • #1,253
  • Feb 25, 2007 9:13pm Feb 25, 2007 9:13pm
Quoting turk87
The cable looks like a short to me!
The next candle should decide it....but it is making a good smooth round top so far..
  • #1,254
  • Feb 25, 2007 9:18pm Feb 25, 2007 9:18pm
Quoting turk87
The cable looks like a short to me!
I agree Turk. My limit is at 1.9590. SL is @ 1.9675. In @9635.
  • #1,255
  • Feb 25, 2007 9:19pm Feb 25, 2007 9:19pm
Quoting pips4uandme
Hi smnitro1!

Great job on the 14 pips!

This is just my thoughts, and really doesn't mean anything.....

First, how's your r:r? If it's good, let the trade ride and move your stop to BE if your entry was around 1.3160.

If you have multiple lots, maybe close a couple out for the 14 pips and move stop to BE to give the lots chance to run if that is the way London chooses to go.

Basically, go with your analysis, and do what you feel is right based on your r:r. For me, right now, and with the opening price available when my time zone came on line, the r:r doesn't work out. Thus, I don't get to enter a trade, but will wait for a good signal on my charts.

Wishing you a huge breakout!

Thanks alot!
Phillip's system is great. I can really seem to rap my head around it.
My R/R was ok (I think). Took the trade at 1.3176. Stop loss at 23 pips below trend and 61.8 fib. Funny, I closed half at +14 and I'm at B/E now. Letting the rest ride.
We must think alike huh?
Thanks again
  • #1,256
  • Feb 25, 2007 9:21pm Feb 25, 2007 9:21pm
Tw0eleven Shazz, Turk and Dire,

Agree with the nice round top...where would you guys put your stops? & first profit target is around 200 (on my chart the 200, 8 and TL are all converging near 1.9610), correct?
  • #1,257
  • Feb 25, 2007 9:23pm Feb 25, 2007 9:23pm
Quoting smnitro1
Thanks alot!
Phillip's system is great. I can really seem to rap my head around it.
My R/R was ok (I think). Took the trade at 1.3176. Stop loss at 23 pips below trend and 61.8 fib. Funny, I closed half at +14 and I'm at B/E now. Letting the rest ride.
We must think alike huh?
Thanks again
Great Job!!! I'm hoping you catch 100 pips tonight and I can kick myself for not being in trade
  • #1,258
  • Feb 25, 2007 9:24pm Feb 25, 2007 9:24pm
I haven't entered short yet, but I would place my stop at the 21 SMA.
  • #1,259
  • Feb 25, 2007 9:24pm Feb 25, 2007 9:24pm
Quoting alcastro
I agree Turk. My limit is at 1.9590. SL is @ 1.9675. In @9635.
Thanks!
  • #1,260
  • Feb 25, 2007 9:26pm Feb 25, 2007 9:26pm
Quoting turk87
I haven't entered short yet, but I would place my stop at the 21 SMA.
???? I'm confused.
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