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4 Hour Strategy (MACD)

  • #1,301
  • Feb 26, 2007 11:59am Feb 26, 2007 11:59am
Is the MACD showing a uptrend continuation? My candle closes in 2 min.
  • #1,302
  • Edited 12:46pm Feb 26, 2007 12:25pm | Edited 12:46pm
My setup shows long on candle close... I'm in, and will post reasons ect.. later. Cna't now

Quoting AlphaPip
Is the MACD showing a uptrend continuation? My candle closes in 2 min.
DireXiv Make it happen, no one else is going to do it for you...
  • #1,303
  • Feb 26, 2007 1:15pm Feb 26, 2007 1:15pm
When I try to apply this system's MACD settings (5, 13, 1) to other platforms different from the MT4 I have found that it cannot draw the histogram but only a line.

I have tried it with the VT trader and Prophet platforms and cannot do it. Has somebody found this same problem with this platform?

The idea is to have a web-based platform (I know this is not the case with VT, but VT is my broker's platform- CMSFX) that I can check with some regularity while I am at work.
  • #1,304
  • Feb 26, 2007 1:39pm Feb 26, 2007 1:39pm
Quoting DireXiv
My setup shows long on candle close... I'm in, and will post reasons ect.. later. Cna't now

When you can I am interested where you put your sl and tp. I am still learning and I see the Macd signal but I don't know where to place stops and tp, since all lines are below price.

Any help would be great.
  • #1,305
  • Feb 26, 2007 1:43pm Feb 26, 2007 1:43pm
Quoting 5forMe
When you can I am interested where you put your sl and tp. I am still learning and I see the Macd signal but I don't know where to place stops and tp, since all lines are below price.

Any help would be great.
There is an upper trendline at 3200, at which point you might take a few pips, especially on a bounce. Otherwise, ride it out until MACD begins to fall.
  • #1,306
  • Feb 26, 2007 1:57pm Feb 26, 2007 1:57pm
thnx alphapip!
  • #1,307
  • Feb 26, 2007 2:36pm Feb 26, 2007 2:36pm
With the EURUSD continuation in the MACD, in at 1.3188, the SL would be around the 21MA at 1.3171 and the target would be.....the previous high around 1.3200?

'Roughly' 1:1...aye?
  • #1,308
  • Edited 2:55pm Feb 26, 2007 2:44pm | Edited 2:55pm
This is the exact situation that is inherent with having brokers with different time feeds. We discussed this a few days ago, on what trend line each broker has on the eur/usd right now. some of you have it so that it is sitting right above where the price currently sits. I would not make a trade based on that. Way to small of movement and the s/l has to be around the 21 EMa at 1.3145 right below another trend line I have in place.

My trend line shows that I have about 40 pips of upward movement available to run with. I'll post a full chart when I get home to see, but some of you may recall this. I in fact did have the lower trendline some of you are referring to as target. However, after re-evaluating it, I think it should be lower acting now as support for the current price. Take a close look, and see what you think with this thinking the price will have pierced the trenline a couple days back and then came right back down next candle. Other than that it looks pretty solid to me. Only time will tell on this one. Again, I'll post a chart when I get home. In know there will be discussion about this.

1.32 PRICE LEVEL WILL ALSO BE A BARRIER TO BE CAREFUL OF.... ALSO, I COULD BE WAY OFF HERE

Edit:
entry:1.3188
S/L: 1.3144

1st target: 1/3210
2nd target: trendline at 1.3230



Quoting Palmer
With the EURUSD continuation in the MACD, in at 1.3188, the SL would be around the 21MA at 1.3171 and the target would be.....the previous high around 1.3200?

'Roughly' 1:1...aye?
DireXiv Make it happen, no one else is going to do it for you...
  • #1,309
  • Feb 26, 2007 2:56pm Feb 26, 2007 2:56pm
Usd/Jpy is forming a round bottom on the 4-Hour chart...the price is exactly at the 89SMA...hard to determine the mood rite now....if the price fails to go up from this level, we could be in for a trend continuation, i.e. short.....just my two cents..
  • #1,310
  • Feb 26, 2007 2:57pm Feb 26, 2007 2:57pm
This is what I have with FXDD:
Attached Image
  • #1,311
  • Feb 26, 2007 3:20pm Feb 26, 2007 3:20pm
I didnt take the trade on the trend bounce of the 21 ema as it was only 12 pips from the 1.3200 mark which i thought might be too close and too risky.

What do you think Phillip?
  • #1,312
  • Feb 26, 2007 4:11pm Feb 26, 2007 4:11pm
Quoting DireXiv
Thoughts on seeing trend continuation? If it breaks the 159 level, I think I'm in..... We are in and uptrend.
EUR?JPY 2007-02-27 0:00 (GMT) candle.
Hi DireXiv,

I do not see trend continuation signal forming! I am seeing the possibility of "Zero cross over and back up" long signal after the completion of current candle (0:00 to 4:00 GMT).

Please correct .
-Chandra.
  • #1,313
  • Edited 5:14pm Feb 26, 2007 4:39pm | Edited 5:14pm
I do not see trend continuation signal forming! I am seeing the possibility of "Zero cross over and back up" long signal after the completion of current candle (0:00 to 4:00 GMT).

Chandra, why to wait for another candle? It's a clearly visible pattern of 1 red and 2 blue finished candles. What you call a "zero cross" is in fact a mini round bottom. Of course, it may fail as any other pattern but for now it points to uptrend continuation, though I think it's unlikely because EUR/JPY was not so high since 1998 and according to D1 chart it's time for correction or reversal.
http://forexbarometer.com/graph/eur-jpy-20070226.gif
Ben
  • #1,314
  • Feb 26, 2007 4:40pm Feb 26, 2007 4:40pm
hey chandra,

Phillip advised/corrected my thinking on that one I was thinking long. While my broker was showing an uptrend, Phillip reminded me that if the price on an uptrend breaks below the 21 ema, it will try to test the 21 again, before falling lower. I believe we are seeing that.

I apologize for not posting specifics and the charts I'm looking at, but my 2 month old is being a little unruly....

Edit: eur/usd, I took 2 lots at 11 pips and got stopped out the last lot at -3.... oh well, it may come back down for a bit now...


Quoting Chandra
EUR?JPY 2007-02-27 0:00 (GMT) candle.
Hi DireXiv,

I do not see trend continuation signal forming! I am seeing the possibility of "Zero cross over and back up" long signal after the completion of current candle (0:00 to 4:00 GMT).

Please correct .
-Chandra.
DireXiv Make it happen, no one else is going to do it for you...
  • #1,315
  • Feb 26, 2007 4:47pm Feb 26, 2007 4:47pm
Well, that was a quick 13 pips to the plus side testing the 1.3200 area on the EURUSD and falling back quick. That was my original line of thinking. These 'whole numbers' are tricky. I think the core producer price index comes out tomorrow, a red flag news event, so keep that in mind this evening....
  • #1,316
  • Feb 26, 2007 5:08pm Feb 26, 2007 5:08pm
Quoting Palmer
Well, that was a quick 13 pips to the plus side testing the 1.3200 area on the EURUSD and falling back quick. That was my original line of thinking. These 'whole numbers' are tricky. I think the core producer price index comes out tomorrow, a red flag news event, so keep that in mind this evening....
Palmer are you still in the trade, or did you get out as soon as it hit 3200?
Any thoughts regarding the possibility of a long continuation after bouncing from the 21 MA?

I am not in, and will wait until the 10:00 PM (EST) candle to make any decision.

Anyone up for a pre-chat 15 mins before (9:45 PM EST- that is GMT-5)?
  • #1,317
  • Feb 26, 2007 5:08pm Feb 26, 2007 5:08pm
Direx,

Are you still long on Euro?
  • #1,318
  • Feb 26, 2007 5:08pm Feb 26, 2007 5:08pm
Not sure if it means anything...but out of the last 11 4hr candles, 9 of them have been into the 1.9640-50 range without breaking or closing above 1.9650. Only 1 candle has broken into it, but closed back in the 1.9630 area. Someone really doesn't want the GBP to go above 1.9650 me thinks!

Any thoughts from someone else?
  • #1,319
  • Feb 26, 2007 5:11pm Feb 26, 2007 5:11pm
ttok profit and mt tight stop took me out on last lot... +18 pips total..... risky territory.. traded live so took it

Quoting maarf01
Direx,

Are you still long on Euro?
DireXiv Make it happen, no one else is going to do it for you...
  • #1,320
  • Feb 26, 2007 5:14pm Feb 26, 2007 5:14pm
i believe phillip commente awhile back aboy how the emotion is starting to buld up... so nice observation twoelev... "me thinks" break out soon ..... forgive my typing.... one handed, holding little gilr, so my responses are a little slow

Quoting Tw0eleven
Not sure if it means anything...but out of the last 11 4hr candles, 9 of them have been into the 1.9640-50 range without breaking or closing above 1.9650. Only 1 candle has broken into it, but closed back in the 1.9630 area. Someone really doesn't want the GBP to go above 1.9650 me thinks!

Any thoughts from someone else?
DireXiv Make it happen, no one else is going to do it for you...
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