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4 Hour Strategy (MACD)

  • #1,841
  • Mar 5, 2007 3:06pm Mar 5, 2007 3:06pm
Palmer,
Just to clarify, tomorrow is Nonfarm productivity, FRIDAY is Nonfarm employment change (payroll) which is the general mover. Nonfarm payroll is always on a Friday.
Kirk

Quoting Palmer
Here's the current 4hr E$. Bouncing off the trendline, bouncing off support...A little while before the candle closes though. Looks like a potention RB along with an inverted H and S pattern forming; head almost complete. So, a rise on the MACD, along with price to form the other shoulder perhaps??? If a long entry put the stop just below the low of the day with the target the 8ma. Just about 1:1 on that...I'll be watching...

Non-farm payroll out tomorrow....REMEMBER THAT!!!
My office is everywhere
  • #1,842
  • Mar 5, 2007 3:16pm Mar 5, 2007 3:16pm
Hey Pips,

Your trade may still be good, although there is a slight T/C on the 1 HR. The GBP is at support from November bouncing a bit. If it comes up to 9244 it may still go, Not yet though, Any comments appreciated. Will check at 5 close of 4 hour


Jim
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  • #1,843
  • Edited 3:20pm Mar 5, 2007 3:19pm | Edited 3:20pm
Quoting pipmyway
Palmer,
Just to clarify, tomorrow is Nonfarm productivity, FRIDAY is Nonfarm employment change (payroll) which is the general mover. Nonfarm payroll is always on a Friday.
Kirk
Hi pipmyway,

I am jumping here just to let you know that I love your footnote: "my office is everywhere" and your avatar: the beach scene. That is why I am doing this!!!! Hopefully, sooner than later I will be signing with a similar footer, and my avatar will have me enjoying pinas coladas at some sunny caribbean beach!!!
  • #1,844
  • Mar 5, 2007 3:27pm Mar 5, 2007 3:27pm
Just took 18 pips on two lots each based on trend continuation from the 1 hr after starting to see it on the 4 hour... 1st time I've really confirmed off the 1 hr... I like it . 1 lot left to see if it would break down again.. probability is low, but hey... it's free at this point. S/l moved to take 10 pips still on last lost if reverses.

Entry 151.62
Edit: Also had very good trendline support and resistance to base off of.

I made this trade because this week I'm concentrating on trend continuationinstead of countertrend trades... they are a little bit harder for me to "see", but higher probability... as one of you so kindly pointed out... palmer? maybe? about phillips original trades.. 4 out of 5 of the losers were countertrends...

"Never go against the trend" (say in the raspy godfather voice)...

Hopfully I can catch these pairs on the way up too....
DireXiv Make it happen, no one else is going to do it for you...
  • #1,845
  • Mar 5, 2007 3:32pm Mar 5, 2007 3:32pm
Quoting DireXiv
Just took 18 pips on two lots each based on trend continuation from the 1 hr after starting to see it on the 4 hour... 1st time I've really confirmed off the 1 hr... I like it . 1 lot left to see if it would break down again.. probability is low, but hey... it's free at this point. S/l moved to take 10 pips still on last lost if reverses.

I made this trade because this week I'm concentrating on trend continuationinstead of countertrend trades... they are a little bit harder for me to "see", but higher probability... as one of you so kindly pointed out... palmer? maybe? about phillips original trades.. 4 out of 5 of the losers were countertrends...

"Never go against the trend" (say in the raspy godfather voice)...

Hopfully I can catch these pairs on the way up too....

Dire,

Great call!!!
Can you post the charts? Just fo rthe sake of learning!!!
  • #1,846
  • Mar 5, 2007 3:46pm Mar 5, 2007 3:46pm
Hi all.

Could you inform how to post charts for future ref.

cheers
  • #1,847
  • Mar 5, 2007 3:51pm Mar 5, 2007 3:51pm
Quoting DireXiv
Just took 18 pips on two lots each based on trend continuation from the 1 hr after starting to see it on the 4 hour... 1st time I've really confirmed off the 1 hr... I like it . 1 lot left to see if it would break down again.. probability is low, but hey... it's free at this point. S/l moved to take 10 pips still on last lost if reverses.

Entry 151.62
Edit: Also had very good trendline support and resistance to base off of.

I made this trade because this week I'm concentrating on trend continuationinstead of countertrend trades... they are a little bit harder for me to "see", but higher probability... as one of you so kindly pointed out... palmer? maybe? about phillips original trades.. 4 out of 5 of the losers were countertrends...

"Never go against the trend" (say in the raspy godfather voice)...

Hopfully I can catch these pairs on the way up too....
Well done !
Well, if Japs will do the same like last night, we'll have some fun with JPY pairs.. That's why I do not plan to go to bed tonight (I live in GMT zone).
  • #1,848
  • Mar 5, 2007 3:51pm Mar 5, 2007 3:51pm
Heres my chart. I got the Daily up to show you my trend lines. It has just hit the 200 and is trying to blast thru. If it does it should target the lower trend line. However, there is support (White horizontal) at 150.21

Jim
Attached Image
  • #1,849
  • Mar 5, 2007 3:53pm Mar 5, 2007 3:53pm
Charts from my post #1844

I'm sure you all can recognize, but my broker is on 0:00 GMT and the first is the 4 hour. Still at work or I would take time to explain more


Quoting alcastro
Dire,

Great call!!!
Can you post the charts? Just fo rthe sake of learning!!!
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DireXiv Make it happen, no one else is going to do it for you...
  • #1,850
  • Mar 5, 2007 4:01pm Mar 5, 2007 4:01pm
Dire,

My Interbank platform, whos 4 hour candles close in between my FXDD show even more of a T/C. Let's see what happens now.

J
  • #1,851
  • Mar 5, 2007 4:03pm Mar 5, 2007 4:03pm
Been an uptrend since June
  • #1,852
  • Mar 5, 2007 4:05pm Mar 5, 2007 4:05pm
EUR/JPY, has been in uptrend since June, due for a fall, Watch them long wicks
  • #1,853
  • Mar 5, 2007 4:27pm Mar 5, 2007 4:27pm
Quoting DireXiv
Charts from my post #1844

I'm sure you all can recognize, but my broker is on 0:00 GMT and the first is the 4 hour. Still at work or I would take time to explain more
Thanks Dire. Good call!!
  • #1,854
  • Mar 5, 2007 4:35pm Mar 5, 2007 4:35pm
Thanks for the chart Jim!

Always much appreciated to see other charts and platforms on the same trade situations and see you analysis. I don't expect it to break, but who knows.....

I thought is was going to be an interesting evening.... Good luck everyone.. let's make some more pips... this has been a very very good week so far (the third in a row). To bad I have to go on a business trip all day tomorrow to Jersey....

Quoting hard1head1
Heres my chart. I got the Daily up to show you my trend lines. It has just hit the 200 and is trying to blast thru. If it does it should target the lower trend line. However, there is support (White horizontal) at 150.21

Jim
DireXiv Make it happen, no one else is going to do it for you...
  • #1,855
  • Mar 5, 2007 4:42pm Mar 5, 2007 4:42pm
Hope your still in
  • #1,856
  • Mar 5, 2007 4:48pm Mar 5, 2007 4:48pm
Dire,

Here is the interbank platform screen. 4 Hr

Jim
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  • #1,857
  • Edited 5:10pm Mar 5, 2007 5:00pm | Edited 5:10pm
Still in... at +96 pips.. free money.....

Need to figure an exit though.....

update: closed last lot at 90 pips..... thats enough for me....

Quoting hard1head1
Hope your still in
DireXiv Make it happen, no one else is going to do it for you...
  • #1,858
  • Mar 5, 2007 5:08pm Mar 5, 2007 5:08pm
I have a firm curl forming on 4 hour T/C, however, the Candle doesnt close till 9. You have already seen the Interbank. Support at 150.21. Im up 51 so Im gonna put a 15 pip trail. I do believe this is going all the way to the outer trend line eventually (149.64) but not before a retrace. Pulling 50% off now, letting rest run
  • #1,859
  • Mar 5, 2007 5:11pm Mar 5, 2007 5:11pm
Aussie moving down slowly in anticipation of good news this evening.

Jim
  • #1,860
  • Mar 5, 2007 7:03pm Mar 5, 2007 7:03pm
One more example and I have to take care of my daughter's homework. This is the current formation with usd/cad which I talked about this morning. The chart is 4HR and I've put a red line across the screen to show where the resistance is. If I would take a trade my SL will be 10 pips above the red line. Yours, Tamara.
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