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4 Hour Strategy (MACD)

  • #1,761
  • Mar 4, 2007 7:36pm Mar 4, 2007 7:36pm
Quoting jarroo
Still holding on at 1.3152

Jim
Out at break even. 1.3152. Looking for a bounce off the 89 sma with MACD confirmation of course.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,762
  • Mar 4, 2007 7:44pm Mar 4, 2007 7:44pm
Does somebody knows what is going on (fundamentally speaking)? Why is the Euro and the GBP falling like rocks?
I did not jump into this free fall.....waiting for next 4hr MACD....too late?
  • #1,763
  • Mar 4, 2007 7:47pm Mar 4, 2007 7:47pm
Tokyo market is way down in every sector.... everything is coming apart at the seams.... the gbp/jpy have pulled the gbp/usd down with it... from my broker news:

All 33 sectors on the Tokyo Stock Exchange are down in a broad-based sell-off in the [N-225] by foreign fund managers and hedge funds. The N-225 fell 2.5% to an intra-morning low of 16,787.96, accumulating a total loss of 7.18% since Feb27. Notably, the 13 foreign brokers in Tokyo reported net sell orders for 13.9 mln shares today, accumulating a whopping total of net sell orders for 77 mln shares over 4 sessions. Hedge funds exiting Japanese stocks are also unwinding their YEN carry trades used to fund such investments. This in turn is boosting the YEN, further hurting shares of exporters such as Sony, Toshiba, Kyocera, Pioneer etc. The machinery sector is down 3.1% though the downside is partly cushioned by a record 16.8% y/y rise in Q4 corporate capex. N-225 currently -2.22% at 16,835.71.



Quoting alcastro
Does somebody knows what is going on (fundamentally speaking)? Why is the Euro and the GBP falling like rocks?
I did not jump into this free fall.....waiting for next 4hr MACD....too late?
DireXiv Make it happen, no one else is going to do it for you...
  • #1,764
  • Mar 4, 2007 8:09pm Mar 4, 2007 8:09pm
Quoting alcastro
Does somebody knows what is going on (fundamentally speaking)? Why is the Euro and the GBP falling like rocks?
I did not jump into this free fall.....waiting for next 4hr MACD....too late?
that was unbelievable, the whole channel filled by 1 candle on eur usd. would anyone consider going long bounce off the lower trend line?? at this time
  • #1,765
  • Mar 4, 2007 8:11pm Mar 4, 2007 8:11pm
EUR & GBP at Trendlines drawn on 4 hour chart right now.

Jim
  • #1,766
  • Mar 4, 2007 8:15pm Mar 4, 2007 8:15pm
My Chart
Attached Image
  • #1,767
  • Mar 4, 2007 8:19pm Mar 4, 2007 8:19pm
GBP/USD, My chart, waiting on test or bounce
Attached Image
  • #1,768
  • Mar 4, 2007 8:24pm Mar 4, 2007 8:24pm
I think we may need to look to the Intermediate Trend here at the daily 89 for possible support. If it passes the 21.
  • #1,769
  • Mar 4, 2007 8:26pm Mar 4, 2007 8:26pm
Well, maybe the Euro/us will end up bouncing from the 89MA with a long tail pointing down.
  • #1,770
  • Mar 4, 2007 8:45pm Mar 4, 2007 8:45pm
Hope everyone started off the week well with that one. On the 4hr EURUSD, looks like the 61.8 Fib# is at about 1.3097...right around that whole number of 1.3100, imagine that. I'm using the low from 2/13. That was a big move so I'm done for the evening, gonna let things stabilize. I've got the pips in the bank so I'm happy with that. It's tempting to just jump in before a candle closes with a move like this...let the candle close. I've seen it so many times and done it also, the candle is giving a signal now but it's got so many minutes before it closes and when it does, it bites you in the ass. I think this is where are buddy discipline comes into play. Have a good evening.
Attached Image
  • #1,771
  • Edited 9:37pm Mar 4, 2007 9:15pm | Edited 9:37pm
great call alcastro... maybe it will contnue in the channel now....

double bottom MACD forming maybe?

Quoting alcastro
Well, maybe the Euro/us will end up bouncing from the 89MA with a long tail pointing down.
DireXiv Make it happen, no one else is going to do it for you...
  • #1,772
  • Mar 4, 2007 9:47pm Mar 4, 2007 9:47pm
Here she comes, Rectangle marks the spot. Intersection of Daily TrendLine and 4 Hour Trendline.

Jim
Attached Image
  • #1,773
  • Mar 5, 2007 1:59am Mar 5, 2007 1:59am
I took 50 pips on the way down on the eurusd and just got out. it looks to be forming a DB at the daily trend line.

I has broke the daily trend line and has just come back to retest it (that was the recent move) so if this DB plays out it could be a great trade.

What do you guys think?

See chart attached

DD
Attached Image
  • #1,774
  • Mar 5, 2007 2:05am Mar 5, 2007 2:05am
Quoting Digitaldean
I took 50 pips on the way down on the eurusd and just got out. it looks to be forming a DB at the daily trend line.

I has broke the daily trend line and has just come back to retest it (that was the recent move) so if this DB plays out it could be a great trade.

What do you guys think?

See chart attached

DD
I think I see a triple top on the daily...
  • #1,775
  • Mar 5, 2007 2:13am Mar 5, 2007 2:13am
The 4 HR MACD is at -.0107; Can we expect a powerful correction when we get a countertrend signal? The hourly looks to be turning (will wait for confirmation) but was just wondering with the strength of this move if the countermove could be large too.

When looking at Daily chart I just noticed that a triple top had formed and that the trendline support for it was at 1.9260ish.

Any thoughts?
  • #1,776
  • Mar 5, 2007 2:27am Mar 5, 2007 2:27am
The current price 1.9234 for gbp/usd. further down move expected from gbp/usd. Waiting for correction signal
  • #1,777
  • Mar 5, 2007 2:32am Mar 5, 2007 2:32am
Current price 1.3132. Possible of 20 pips to 30 pips downfall before correction signal~~

Hope it's true~~
  • #1,778
  • Mar 5, 2007 2:47am Mar 5, 2007 2:47am
am in the sideline, waiting for a correction. ut seems like it has more room to the south.
  • #1,779
  • Mar 5, 2007 3:01am Mar 5, 2007 3:01am
Quoting alcastro
Willem,

No, I do not trade this pair. i was looking at it just out of curiosity. I am sticking to the Euro/US; GB/Us; US/CAD(?); and US/JP. And will stick ti then until I feel confident with Phillips system And if I am making good pips with these pairs....why look for more?
Tx, I am interested in that pair but I'll also keep an eye on it. I am concentrating on only EUR/US & GBP/US.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,780
  • Mar 5, 2007 3:18am Mar 5, 2007 3:18am
Quoting alcastro
am in the sideline, waiting for a correction. ut seems like it has more room to the south.
I'm with you and waiting for a strong signal before I do anything (even though I have trend continuation for Eur w/hourly confirmation (price is sitting at trendline too...if it breaks maybe...???).

Maybe sit tight untll after ISM...???

pips

you were talking EurUsd, right? maybe I'm even more confused than I thought!
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