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4 Hour Strategy (MACD)

  • #1,601
  • Mar 2, 2007 5:26am Mar 2, 2007 5:26am
took profit with half on 1.3180 and after that moved SL to BE. I guess i should have let it open until the support TL.
  • #1,602
  • Mar 2, 2007 5:43am Mar 2, 2007 5:43am
Quoting bisar_x
took profit with half on 1.3180 and after that moved SL to BE. I guess i should have let it open until the support TL.
Bisar_x,

Why did you omit 1.3200? According to Phil's rules 00 levels may become a barrier?

When should we consider 00 levels important?

thanks

woju2
  • #1,603
  • Mar 2, 2007 5:48am Mar 2, 2007 5:48am
Of course that level 1.32 and 21ma was an important resistance level. I moved SL to BE right when i saw 20 pips profit. After that the news for usd being very good i considered that the price could go further right to the TL.
  • #1,604
  • Mar 2, 2007 6:21am Mar 2, 2007 6:21am
Quoting Chandra
Hi Tamkras,
How did you get that trend line. It is joining only 2 points. If there is no third point in a trend line then the line could be man-made trendline.-Chandra
Hi Chandra, this is the complete picture with the trendline. There are 5 points. We already know that it is broken. Yours, Tamkras.
Attached Image
  • #1,605
  • Mar 2, 2007 6:28am Mar 2, 2007 6:28am
Hi!

Will you take a valid signal at 15 (GMT)? Its Friday and I think its too late. Any comments?

Thanks

Woju2
  • #1,606
  • Mar 2, 2007 6:44am Mar 2, 2007 6:44am
Quoting woju2
Hi!

Will you take a valid signal at 15 (GMT)? Its Friday and I think its too late. Any comments?

Thanks

Woju2
Hi Woju2

With a demo account, yes just get the experience should such a signal appears again. Take profit early if it comes your way.

With a live account with little experience, a definite no. I'll let it pass but I'll keep an eye on it.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,607
  • Mar 2, 2007 6:51am Mar 2, 2007 6:51am
Quoting woju2
Bisar_x,

Why did you omit 1.3200? According to Phil's rules 00 levels may become a barrier?

When should we consider 00 levels important?

thanks

woju2
Woju2

I did take half the profit @ 1.3200 and moved my SL to BE. I do belief in taking the profit it is there and get a free ride with the rest. That is why I am still in at this stage with the other half. The reason why I took my profit is that I had several profitable trades changed into losses because I was thinking - "what about a few more pips".

Afterwards one tends to think - "I could have leave it open". I do ignore that little voice and look for the next trade.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,608
  • Mar 2, 2007 6:52am Mar 2, 2007 6:52am
EURUSD:

MACD is forming bullish divergence on the 1hr and the 4hr is trying to form a green MACD bar at the RB. There's an interest rate statement out this morning so be careful...
Attached Image
  • #1,609
  • Mar 2, 2007 6:56am Mar 2, 2007 6:56am
Quoting Golfer
Hi Woju2

With a demo account, yes just get the experience should such a signal appears again. Take profit early if it comes your way.

With a live account with little experience, a definite no. I'll let it pass but I'll keep an eye on it.

Willem
I completely agree

Woju2
  • #1,610
  • Edited 7:23am Mar 2, 2007 7:21am | Edited 7:23am
Chandra: I just saw your question a few pages back and I'm now trying to find my post about the question...This thread is so active it's hard to keep up with everything. Coupled with that the different world time-zones we live in, work schedules (if we can even post things at work or even trade) there can be several new pages between visits to this thread. I took no trades last night, had to go to sleep at some point. I'm central time US and I'm really not 'supposed to' do this at work, but, I'll sneak in here and there.....

I take that back, not an interest rate statement out, just Bernanke talking. But, that can be enough to shake things up a but either way...
  • #1,611
  • Mar 2, 2007 7:53am Mar 2, 2007 7:53am
Did you guys notice the double mounds on cable before the fall? (aka nesting dolls).

Spectacular!

I've been waiting for a buy signal on cable at this price level for over a week...of course it will come at 20 GMT on Friday...oh well!
  • #1,612
  • Mar 2, 2007 8:19am Mar 2, 2007 8:19am
hi, is there a short signal for U/C now? MACD turned above zero and after 3 bars it moved below zero .8 and 21 ema is quite near as resistance. please guide. thanks
  • #1,613
  • Mar 2, 2007 8:38am Mar 2, 2007 8:38am
Quoting ramshackle
hi, is there a short signal for U/C now? MACD turned above zero and after 3 bars it moved below zero .8 and 21 ema is quite near as resistance. please guide. thanks
My only conerns are:
1. Too late on a Friday
2. Seems like you would need a big SL = 30+pips making the RR not worth it.

However, the trade is there for the taking in line with the trend.
Personally I would give it a skip.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,614
  • Mar 2, 2007 8:42am Mar 2, 2007 8:42am
Some comments about today.

Remember it is Friday so any trade should be pocket money for the weekend.

Have I nice weekend
Attached File(s)
File Type: zip DailyWrapup.zip   810 KB | 1,601 downloads
  • #1,615
  • Mar 2, 2007 8:47am Mar 2, 2007 8:47am
Quoting Palmer
EURUSD:

MACD is forming bullish divergence on the 1hr and the 4hr is trying to form a green MACD bar at the RB. There's an interest rate statement out this morning so be careful...
Need your help Palmer,

On your meta charts how do you set up the MACD to have the colors up and down?

Appreciate your help.

AJ
  • #1,616
  • Mar 2, 2007 8:52am Mar 2, 2007 8:52am
Quoting woju2
Hi!

I’ve got two problems:

1) Do you always consider a 00 level as a barrier or a profit target?
When do you consider this level more important?
2) Two days ago (28.02) I went long on EUR/USD taking TC signal at the opening of the 20.00 candle (mig platform). Was it correct? Should I close my position when H&S signal came later?

Thanks


Woju2
Woju2,
I am writing about your trade. Now the 12:00 candle on march 02 (Friday is forming a RT. If U still holding the long you have taken, u r under loss of about 73 pips. If u check this RB formation, it may come back up a bit as it is above 89 mA (up trend mood). 1hr does not show any TC signal (to continue downward journey). So, if I were, I would hang on to my long position to at least reduce my loss.
This is a very contraversial/debatable observation. Others may not agree with me.
-Chandra
  • #1,617
  • Mar 2, 2007 8:58am Mar 2, 2007 8:58am
Quoting Phillip Nel
Some comments about today.

Remember it is Friday so any trade should be pocket money for the weekend.

Have I nice weekend
Phillip

Tx for the MP3. Just one question - you said you'll wait for the EUR/US MACD to cross the 00line before you'll enter a long trade - is that the 1h or 4h MACD?

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,618
  • Edited 9:19am Mar 2, 2007 9:06am | Edited 9:19am
Quoting Golfer
Phillip

Tx for the MP3. Just one question - you said you'll wait for the EUR/US MACD to cross the 00line before you'll enter a long trade - is that the 1h or 4h MACD?

Willem
On 1Hour. It is a bit shaky with the two little tails to the top. (Spinners) Tails to the bottom is well. Trendline support on my chart. Support off 89SMA

Entry 1.3175
S/L 20 pips
T/P 1.3195 or closeby

Get breakeven after 15 pips as 21EMA is close.


Update:
Was looking for some quick easy pips but looks like we are heading south
  • #1,619
  • Mar 2, 2007 9:13am Mar 2, 2007 9:13am
Quoting pips4uandme
Did you guys notice the double mounds on cable before the fall? (aka nesting dolls).

Spectacular!

I've been waiting for a buy signal on cable at this price level for over a week...of course it will come at 20 GMT on Friday...oh well!
I'm glad you've seen this. This downward move is very significant for cable as it falls out from the daily trendline. You can set up your daily chart and see it. Please, note also the price has moved out from the recent bearish flag. It has to settle before a buy signal. If I buy now my target is only the middle point of the bearish flag which is about 1.9505. But I am really amazed with your observation of the nesting dolls pattern for cable. Yours, Tamkras.
  • #1,620
  • Mar 2, 2007 9:18am Mar 2, 2007 9:18am
Quoting tamkras
I'm glad you've seen this. This downward move is very significant for cable as it falls out from the daily trendline. You can set up your daily chart and see it. Please, note also the price has moved out from the recent bearish flag. It has to settle before a buy signal. If I buy now my target is only the middle point of the bearish flag which is about 1.9505. But I am really amazed with your observation of the nesting dolls pattern for cable. Yours, Tamkras.
I missed this nesting doll. Have she got a name. Can you introduce her to me.
Thanks
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