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4 Hour Strategy (MACD)

  • #1,461
  • Feb 28, 2007 9:58am Feb 28, 2007 9:58am
Quoting Phillip Nel
When there is conflict between the 1hour and 4hour then the 4 hour is remains the main one. The 1hour must support the direction of the 4hour.
Phillip,

I listned to your audio on 1-Hr. confirmation.

1 In your audio, you are talking about the relationship between the 4-Hr. chart and 1-Hr. chart.

2.You are telling us the relationship between the "Round Top" (RT) signal and "Trend Continuation' (TC) signal in those charts.

3. Also, you are NOT talking about any other signals (or, any relationship between other signals) in those two charts.
(Phillip, this is important, please confirm this observation).

4. Let us stick to RT ONLY for this discussion here. We do not talk about 'Round Bottom' (RB) signal here.

3. Now, in the 4-Hr. chart. a RT signal is forming on the currnet bar.

4. After completion of this current bar, if it closes below the previous bar then there wiil be a RT signal to go short.

5. But, we do not know whether this current bar closes below the previous bar to form a RT signal to go short.

6. If the current bar closes higher than the previous bar, then it forms a TC signal to go long.

7. Now, at this juncture, we are sitting with a dialama.

8. The dialama is, whether the current bar closes lower than the previous bar to form a RT signal to go short OR whether this current bar closes higher than the previous bar to form a TC signal to go long.

9. Of course, we can wait until the completion of this current bar to make sure ourselves whether the signal is RT signal to go short or a TC signal to go long.

10. By waiting for the completion of the current bar we will get a confirmed signal (a RT signal to go short OR a TC signal to go long).

11. But, by the time the current bar copletes its course, the price might have moved too far in one direction or the other. So, waiting for the completion of the current bar is less profitable.

12. Instead, go to 1-Hr chart.

13. If 1-Hr chart is in the UP trend (price above 89 MA) and the price is sitting on the 21 MA (or, hovering between 8 MA and 21 MA) and IF THE MACD OF THIS 1-Hr. CHART GIVES A TC SIGNAL, then you can safely conclude that the signal that is still forming in the 4-Hr. chart with its current bar (which is not yet completed, though) is going to be a TC signal and take a long position way before the current bar in the 4-Hr chart completes and thus have a better trade (long trade).

14. We can boldly conclude the signal forming in the 4-Hr. chart is going to be a TC signal because (i) the 1-Hr. chart is in the up trend (above 89 MA) AND (ii) the price in the 1-Hr. chart is sitting on 21 MA or hovering between 8 MA and 21 MA AND (iii) the MACD on the 1-Hr. chart has completed a TC signal.

15. If the above three conditions are NOT met in the 1-Hr. chart, then, just sit tight and do nothing until the current bar in the 4-Hr chart completes and tells you what signal it is (RT or TC).

16. Phillip came up with this great solution because many of us, the suspious creatures, have questioned the RT signal (in the 4-Hr chart) because many times, the so called RT signal turns out to be a TC signal after the completion of the current bar or even after the completion of the next bar.

17. Conclusion: If an RT is forming in the 4-Hr chart and you are skeptic (like me) whether it is going to be an RT (to go short) or a TC (to go long), then, don't wait, go to 1-Hr. chart, and there in 1-Hr. chart, if a TC has formed, then treat your incomplete and apprehensive signal in 4-Hr. chart as TC signal and enter LONG immediately, without waiting for the completion of the current bar in the 4-Hr. chart and thus make a more profitable entry.
If there is not TC signal confirmation in the 1-Hr. Chart, sit and wait for the competion of the current bar in the 4-Hr. chart.

14. Here is the most important point At least for me).

15. In this project of "1-Hr. chart supporting the 4-Hr. chart", there is nothing else except the above-mentioned/detailed relationship between the two charts.
(Phillip, can you confirm the above observation. Here, I feel I am making this observation without enough understanding on my part)

Thanks, Phillip for all you have done to us.
-Chandra
  • #1,462
  • Feb 28, 2007 10:02am Feb 28, 2007 10:02am
Thanks FXNewbie!

I agree that it is important for us to learn from what we do right and what we could have done better

Just wonder why I felt the need for a "new" pair and to chase it too.

(I've also noticed that many of my losing trades happen on the last day of the month. Bet that means I should sit out and catch up on sleep or friend time

May all your trades be filled with positive pips!
  • #1,463
  • Feb 28, 2007 10:11am Feb 28, 2007 10:11am
Quoting pips4uandme
The short trade taken overnight was stopped out for a 30 pip loss.

Shorting Cad was one of the worst trades I have taken and managed. Reasons are:

1. I had never traded the pair and did not know how it moved.
2. I hadn't taken the time to backtest the pair before trading it live
3. My planning a preperation was poor. I took the trade even though I was concerned of a trendline break and ignored proximity of price to significant MA's.
4. Realized that my stop was in a horrible location (after entry) and would probably be hit, raising stop would have made the r:r completely unacceptable.
5. I could have exited this trade a couple of times at breakeven or with a small profit. I almost closed it right before USD GDP.
6. After the trade, when reassessing the charts, price had bounced off the 21 EMA 2ce and continued upwards...a strong upward move was in play. The trade should have been closed.

Thank goodness I didn't risk more than 2% of my account on this trade. Moral of the story: Don't trade unfamiliar pairs without doing proper planning ahead of time! (and don't overlook huge details like break of important trendline (what a silly silly move!)

Trade results:
Wins: 6 (+252 pips)
Losses: 1 (- 30 pips)

Total pips for Feb (15 days): +222


That is very well done. Nice to see you analysing your bad trade. Never ignore that little voice inside especially if you are in a trade. We have a saying "When in doubt, mean it out"
That little voice(especially if you are a woman) can sometimes be very handy. Our men are to much ignorant to it.

Have you also analysed your good trades in terms of:
1. How did I stick to the rules of my plan.
2. What emotions did I feel at different stages. How am I going to handle or manage it next time. Bad and good emotions.
3. Was my profit strategy to the maximum or could I get more out of the trade with another profit strategy and or approach.
4. Was my exit according to plan. If not why did I decided to exit.

Etc.....etc....etc.. Just to get you aware of the whole motion of the trade itself if you wathed it live. Next time when the price got stuck at a MA how are you going to handle it. Last time I exit it to scared I lose the pips I already had just to see the price eventualy penetrating the MA and then the emotion that follows etc...etc...

You are doing very well emotionally and understanding the system. I can see it in your posts.
  • #1,464
  • Edited 10:52am Feb 28, 2007 10:13am | Edited 10:52am
GBP/$ showing a small climb in MACD, but too much MA resistance above it to enter. Standing aside.
  • #1,465
  • Feb 28, 2007 10:15am Feb 28, 2007 10:15am
Quoting Phillip Nel
When there is conflict between the 1hour and 4hour then the 4 hour is remains the main one. The 1hour must support the direction of the 4hour.
Philli,
I have posted detsils of what I think your 1-Hr. support MACD is bout.
Please read it and comment. I don't want to post wrong information and confuse things. Now I have already posted it, I am a bit concerned. Please correct me if I am wrong and add anythin you want to add and delete anythig you think wrong.

Her eis one more thing about the "BIG GUYS" comong and taking away the stops. If we somehow have our stops invisile to 'THEM". we can survive their onslaught. With so many new tech tools available, great minds like you should be able to come up with a mechanism where stop losses pops in and comes into effect under certain conditions and pops off and become inactive under certain conditions so that 'THEY' see them some time and don't see them some other times.
For example, see 4-Hr char on GBPUSD this morning. The down tail at 8:00 GMT is due to news bit waht about the down tail on the 4-Hr. bar? It was purely because 'THEY" knew the small guys' stop loss points. Can we create the nightmare to them by the appearence and disapperarence of our stop loss points? We have to tools such as volume, momentum, tendLine alarm, etc., to tell us to take our stop loss orders off the table because the behaviour of the price is not natural flow and it is to take the stop losses.
Or, is this just my wishful thinking.
-Chandra
  • #1,466
  • Feb 28, 2007 10:20am Feb 28, 2007 10:20am
Quoting Chandra
Phillip,

I listned to your audio on 1-Hr. confirmation.

1 In your audio, you are talking about the relationship between the 4-Hr. chart and 1-Hr. chart.

2.You are telling us the relationship between the "Round Top" (RT) signal and "Trend Continuation' (TC) signal in those charts.

3. Also, you are NOT talking about any other signals (or, any relationship between other signals) in those two charts.
(Phillip, this is important, please confirm this observation).

4. Let us stick to RT ONLY for this discussion here. We do not talk about 'Round Bottom' (RB) signal here.

3. Now, in the 4-Hr. chart. a RT signal is forming on the currnet bar.

4. After completion of this current bar, if it closes below the previous bar then there wiil be a RT signal to go short.

5. But, we do not know whether this current bar closes below the previous bar to form a RT signal to go short.

6. If the current bar closes higher than the previous bar, then it forms a TC signal to go long.

7. Now, at this juncture, we are sitting with a dialama.

8. The dialama is, whether the current bar closes lower than the previous bar to form a RT signal to go short OR whether this current bar closes higher than the previous bar to form a TC signal to go long.

9. Of course, we can wait until the completion of this current bar to make sure ourselves whether the signal is RT signal to go short or a TC signal to go long.

10. By waiting for the completion of the current bar we will get a confirmed signal (a RT signal to go short OR a TC signal to go long).

11. But, by the time the current bar copletes its course, the price might have moved too far in one direction or the other. So, waiting for the completion of the current bar is less profitable.

12. Instead, go to 1-Hr chart.

13. If 1-Hr chart is in the UP trend (price above 89 MA) and the price is sitting on the 21 MA (or, hovering between 8 MA and 21 MA) and IF THE MACD OF THIS 1-Hr. CHART GIVES A TC SIGNAL, then you can safely conclude that the signal that is still forming in the 4-Hr. chart with its current bar (which is not yet completed, though) is going to be a TC signal and take a long position way before the current bar in the 4-Hr chart completes and thus have a better trade (long trade).

14. We can boldly conclude the signal forming in the 4-Hr. chart is going to be a TC signal because (i) the 1-Hr. chart is in the up trend (above 89 MA) AND (ii) the price in the 1-Hr. chart is sitting on 21 MA or hovering between 8 MA and 21 MA AND (iii) the MACD on the 1-Hr. chart has completed a TC signal.

15. If the above three conditions are NOT met in the 1-Hr. chart, then, just sit tight and do nothing until the current bar in the 4-Hr chart completes and tells you what signal it is (RT or TC).

16. Phillip came up with this great solution because many of us, the suspious creatures, have questioned the RT signal (in the 4-Hr chart) because many times, the so called RT signal turns out to be a TC signal after the completion of the current bar or even after the completion of the next bar.

17. Conclusion: If an RT is forming in the 4-Hr chart and you are skeptic (like me) whether it is going to be an RT (to go short) or a TC (to go long), then, don't wait, go to 1-Hr. chart, and there in 1-Hr. chart, if a TC has formed, then treat your incomplete and apprehensive signal in 4-Hr. chart as TC signal and enter LONG immediately, without waiting for the completion of the current bar in the 4-Hr. chart and thus make a more profitable entry.
If there is not TC signal confirmation in the 1-Hr. Chart, sit and wait for the competion of the current bar in the 4-Hr. chart.

14. Here is the most important point At least for me).

15. In this project of "1-Hr. chart supporting the 4-Hr. chart", there is nothing else except the above-mentioned/detailed relationship between the two charts.
(Phillip, can you confirm the above observation. Here, I feel I am making this observation without enough understanding on my part)

Thanks, Phillip for all you have done to us.
-Chandra

That is exactly what it is. Remember that the 4 Hour MACD gives false RT signals when the market is trending while it returns to the 21EMA and then going on again. The 1Hour TC signal off the 1hour 21EMA will help you get in early on the trend continuation. Will try to post a sample to demonstrate.
  • #1,467
  • Feb 28, 2007 10:22am Feb 28, 2007 10:22am
Wow, good stuff Chandra.

Well done. .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,468
  • Feb 28, 2007 10:26am Feb 28, 2007 10:26am
Quoting Chandra
Philli,
I have posted detsils of what I think your 1-Hr. support MACD is bout.
Please read it and comment. I don't want to post wrong information and confuse things. Now I have already posted it, I am a bit concerned. Please correct me if I am wrong and add anythin you want to add and delete anythig you think wrong.

Her eis one more thing about the "BIG GUYS" comong and taking away the stops. If we somehow have our stops invisile to 'THEM". we can survive their onslaught. With so many new tech tools available, great minds like you should be able to come up with a mechanism where stop losses pops in and comes into effect under certain conditions and pops off and become inactive under certain conditions so that 'THEY' see them some time and don't see them some other times.
For example, see 4-Hr char on GBPUSD this morning. The down tail at 8:00 GMT is due to news bit waht about the down tail on the 4-Hr. bar? It was purely because 'THEY" knew the small guys' stop loss points. Can we create the nightmare to them by the appearence and disapperarence of our stop loss points? We have to tools such as volume, momentum, tendLine alarm, etc., to tell us to take our stop loss orders off the table because the behaviour of the price is not natural flow and it is to take the stop losses.
Or, is this just my wishful thinking.
-Chandra

When I watch my trade alive I have my stoploss written down but have a what I call crash stop 20 or so pips further away only if the system goes off or something happen that I cannot be there alive and close the deal. By doing that you could be out of the mass group stoploss area.The moment I leave I set my stop to the actual possition. But be carefull not to shift your stop should that level be reached. You must close it at your planned level.
  • #1,469
  • Feb 28, 2007 10:28am Feb 28, 2007 10:28am
Quoting Phillip Nel
That is very well done. Nice to see you analysing your bad trade. Never ignore that little voice inside especially if you are in a trade. We have a saying "When in doubt, mean it out"
That little voice(especially if you are a woman) can sometimes be very handy. Our men are to much ignorant to it. (yes, I know men can sometimes be ignorant of that little voice...and us women in trades tell it to be quiet!

Have you also analysed your good trades in terms of:
1. How did I stick to the rules of my plan.
2. What emotions did I feel at different stages. How am I going to handle or manage it next time. Bad and good emotions.
3. Was my profit strategy to the maximum or could I get more out of the trade with another profit strategy and or approach.
4. Was my exit according to plan. If not why did I decided to exit.

Etc.....etc....etc.. Just to get you aware of the whole motion of the trade itself if you wathed it live. Next time when the price got stuck at a MA how are you going to handle it. Last time I exit it to scared I lose the pips I already had just to see the price eventualy penetrating the MA and then the emotion that follows etc...etc...
Thank you for the feedback! I haven't asked myself the questions you've posed re:my good trades. I think I will keep a "diary" to record emotions while in a trade & can review it regularly. Then compare good vs. bad -- see what's different (maybe I eat too much sugar on bad trade days and make bad choices...who knows? ).

Thanks again for helping us on this forum! You really are an Awesome person!
  • #1,470
  • Feb 28, 2007 10:31am Feb 28, 2007 10:31am
Quoting jarroo
Wow, good stuff Chandra.

Well done. .

Jim
Second the opionion! Thanks so much for writing the "rules" out for clarification. Now we can all print it and keep it next to our trade journals for easy reference!

Great Job! & thanks a million!

Pippy
  • #1,471
  • Feb 28, 2007 10:38am Feb 28, 2007 10:38am
Quoting AlphaPip
GBP/$ showing a smile climb in MACD, but too much MA resistance above it to enter. Standing aside.
Not to mention how big our stops would have to be! Dont think the r:r would justify the trade. Wish we could have a buy signal at 1.9490 (still dreaming it will come)
  • #1,472
  • Feb 28, 2007 10:42am Feb 28, 2007 10:42am
Quoting Chandra
Phillip,

I listned to your audio on 1-Hr. confirmation.

1 In your audio, you are talking about the relationship between the 4-Hr. chart and 1-Hr. chart.

2.You are telling us the relationship between the "Round Top" (RT) signal and "Trend Continuation' (TC) signal in those charts.

3. Also, you are NOT talking about any other signals (or, any relationship between other signals) in those two charts.
(Phillip, this is important, please confirm this observation).

4. Let us stick to RT ONLY for this discussion here. We do not talk about 'Round Bottom' (RB) signal here.

3. Now, in the 4-Hr. chart. a RT signal is forming on the currnet bar.

4. After completion of this current bar, if it closes below the previous bar then there wiil be a RT signal to go short.

5. But, we do not know whether this current bar closes below the previous bar to form a RT signal to go short.

6. If the current bar closes higher than the previous bar, then it forms a TC signal to go long.

7. Now, at this juncture, we are sitting with a dialama.

8. The dialama is, whether the current bar closes lower than the previous bar to form a RT signal to go short OR whether this current bar closes higher than the previous bar to form a TC signal to go long.

9. Of course, we can wait until the completion of this current bar to make sure ourselves whether the signal is RT signal to go short or a TC signal to go long.

10. By waiting for the completion of the current bar we will get a confirmed signal (a RT signal to go short OR a TC signal to go long).

11. But, by the time the current bar copletes its course, the price might have moved too far in one direction or the other. So, waiting for the completion of the current bar is less profitable.

12. Instead, go to 1-Hr chart.

13. If 1-Hr chart is in the UP trend (price above 89 MA) and the price is sitting on the 21 MA (or, hovering between 8 MA and 21 MA) and IF THE MACD OF THIS 1-Hr. CHART GIVES A TC SIGNAL, then you can safely conclude that the signal that is still forming in the 4-Hr. chart with its current bar (which is not yet completed, though) is going to be a TC signal and take a long position way before the current bar in the 4-Hr chart completes and thus have a better trade (long trade).

14. We can boldly conclude the signal forming in the 4-Hr. chart is going to be a TC signal because (i) the 1-Hr. chart is in the up trend (above 89 MA) AND (ii) the price in the 1-Hr. chart is sitting on 21 MA or hovering between 8 MA and 21 MA AND (iii) the MACD on the 1-Hr. chart has completed a TC signal.

15. If the above three conditions are NOT met in the 1-Hr. chart, then, just sit tight and do nothing until the current bar in the 4-Hr chart completes and tells you what signal it is (RT or TC).

16. Phillip came up with this great solution because many of us, the suspious creatures, have questioned the RT signal (in the 4-Hr chart) because many times, the so called RT signal turns out to be a TC signal after the completion of the current bar or even after the completion of the next bar.

17. Conclusion: If an RT is forming in the 4-Hr chart and you are skeptic (like me) whether it is going to be an RT (to go short) or a TC (to go long), then, don't wait, go to 1-Hr. chart, and there in 1-Hr. chart, if a TC has formed, then treat your incomplete and apprehensive signal in 4-Hr. chart as TC signal and enter LONG immediately, without waiting for the completion of the current bar in the 4-Hr. chart and thus make a more profitable entry.
If there is not TC signal confirmation in the 1-Hr. Chart, sit and wait for the competion of the current bar in the 4-Hr. chart.

14. Here is the most important point At least for me).

15. In this project of "1-Hr. chart supporting the 4-Hr. chart", there is nothing else except the above-mentioned/detailed relationship between the two charts.
(Phillip, can you confirm the above observation. Here, I feel I am making this observation without enough understanding on my part)

Thanks, Phillip for all you have done to us.
-Chandra
Hi Chandra

Just as I understand it. Well put. I've tried to demo trade the 1h charts (recommended by Benf) with the 4h system but after my first 2 trades (EUR$) being losses and Phillip advice not the use the 4h system on the 1h charts (too many false signals), I've decided to stay with the 4h charts.

My view point: Just use 1h chart to confrim RT & TC on the 4h chart. Don't trade the 1 chart if you cannot stay live with the trade or if it isn't your style.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,473
  • Feb 28, 2007 10:52am Feb 28, 2007 10:52am
Quoting pips4uandme
The short trade taken overnight was stopped out for a 30 pip loss.

Shorting Cad was one of the worst trades I have taken and managed. Reasons are:

1. I had never traded the pair and did not know how it moved.
2. I hadn't taken the time to backtest the pair before trading it live
3. My planning a preperation was poor. I took the trade even though I was concerned of a trendline break and ignored proximity of price to significant MA's.
4. Realized that my stop was in a horrible location (after entry) and would probably be hit, raising stop would have made the r:r completely unacceptable.
5. I could have exited this trade a couple of times at breakeven or with a small profit. I almost closed it right before USD GDP.
6. After the trade, when reassessing the charts, price had bounced off the 21 EMA 2ce and continued upwards...a strong upward move was in play. The trade should have been closed.

Thank goodness I didn't risk more than 2% of my account on this trade. Moral of the story: Don't trade unfamiliar pairs without doing proper planning ahead of time! (and don't overlook huge details like break of important trendline (what a silly silly move!)

Trade results:
Wins: 6 (+252 pips)
Losses: 1 (- 30 pips)

Total pips for Feb (15 days): +222

Pips, you are doing great. And a loss is not really a loss if you learn from it (and you control the loss!!). You were getting spoiled with that 100% profitable record!!!!
  • #1,474
  • Feb 28, 2007 10:58am Feb 28, 2007 10:58am
Quoting Phillip Nel
On the EurUsd the short was countertrend and only to the 21EMA.(20-25 pips). The bounce off the 21EMA and trendline did not give a MACD signal yet on my chart.
C
EURUSD
1-Hr. Chart
13:00 candle.
Phillip.

Your statement:
"The bounce off the 21EMA and trendline did not give a MACD signal yet on my chart".

The bounce off the 89 MA crosses up the 21MA. Don't you consider this as bounce off the 21 MA?
Thanks.
-Chandra
  • #1,475
  • Feb 28, 2007 11:13am Feb 28, 2007 11:13am
Phillip,
GBPUSD, 4Hr chart 2007-02-28; 16:00 GMT bar.

It looks like a RB signal is forming. Doubtful whether this bar turns out to be a RB signal or a TC signal so, I went to see 1-Hr. Chart. I don't see any TC signal formation in the MACD of 1Hr. chart. So, I come back to 4-Hr. chart and wait for a signal.
Is my thinking correct?
Thanks.
-Chandra
  • #1,476
  • Feb 28, 2007 11:30am Feb 28, 2007 11:30am
EURUSD Trade.

1Hr - bounce off the 89 sma.
4Hr - bounce off the 21 ema.
MACD confirmation on both 1hr and 4hr.
With the trend (price above the 89 sma on the 4 hr.)

Entered at 1.3188.
Exited at 1.3218.

30 pips.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,477
  • Feb 28, 2007 11:36am Feb 28, 2007 11:36am
Quoting Chandra
EURUSD
1-Hr. Chart
13:00 candle.
Phillip.

Your statement:
"The bounce off the 21EMA and trendline did not give a MACD signal yet on my chart".

The bounce off the 89 MA crosses up the 21MA. Don't you consider this as bounce off the 21 MA?
Thanks.
-Chandra
As you get to know the movement and motion and interaction of the price with the different MA's you will be able to judge the entry on the 1hour as well around other MA's.
I enter that trade on the bounce off the 89SMA solely to support the possible bounce off the 4 hour 21EMA @ 1.3205 with sl @ 1.3178 and first target 1.3230 (closest high) Took 50% gain at 1.3228 and rest at breakeven. There were some scary moments when it tested the 89SMA again on the 1hour.

I looked at the 4hour and saw a possible bounce of the 21EMA. Then I went to the 1hour chart and noticed a bounce off the 89SMA which supports an up movement which is in harmony with the 4hour possible movement. Should the 4hour now give an trend continuation signal, I re-enter the 50% I took profit on and still have the other 50% open.

If you are confused with the 1hour strategy, I want you to ignore it till you have mastered the 4Hour MACD.
  • #1,478
  • Feb 28, 2007 11:38am Feb 28, 2007 11:38am
Quoting Chandra
Phillip,
GBPUSD, 4Hr chart 2007-02-28; 16:00 GMT bar.

It looks like a RB signal is forming. Doubtful whether this bar turns out to be a RB signal or a TC signal so, I went to see 1-Hr. Chart. I don't see any TC signal formation in the MACD of 1Hr. chart. So, I come back to 4-Hr. chart and wait for a signal.
Is my thinking correct?
Thanks.
-Chandra

You are right. No syncronization.
  • #1,479
  • Feb 28, 2007 11:40am Feb 28, 2007 11:40am
Quoting jarroo
EURUSD Trade.

1Hr - bounce off the 89 sma.
4Hr - bounce off the 21 ema.
MACD confirmation on both 1hr and 4hr.
With the trend (price above the 89 sma on the 4 hr.)

Entered at 1.3188.
Exited at 1.3218.

30 pips.

Jim
Well done Jim!!!
  • #1,480
  • Feb 28, 2007 11:41am Feb 28, 2007 11:41am
Quoting jarroo
EURUSD Trade.

1Hr - bounce off the 89 sma.
4Hr - bounce off the 21 ema.
MACD confirmation on both 1hr and 4hr.
With the trend (price above the 89 sma on the 4 hr.)

Entered at 1.3188.
Exited at 1.3218.

30 pips.

Jim
Well done. You have seen it. Now with money management you can remain in the trade while taking some profit and re-enter the profit portion should the 4Hour MACD give a trend continuation signal.
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