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4 Hour Strategy (MACD)

  • #17,881
  • Nov 18, 2008 7:32am Nov 18, 2008 7:32am
here I have attached the kiwi 4H chart, there is a possible breakout trade in the works. The daily, 4H and even the 1H chart are all in down trend formation. This is not a suggestion to take a trade but to just confirm the signals that Phillip has emphasized over and over again. As you can see, the trend if down and price action is down which is the most important signal. The MACD signal can be used to further confirm the entry and also we have trend lines here that might be broken. So a high probability trade might be in the works.

Also as I mentioned in my last post. As you can see the horizontal lines on the 4H MACD are very easily visible unlike the horizontal lines on the eur and gbp. That signals a less volatile pair (to my observation at least)
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Keeping Life Simple
  • #17,882
  • Nov 18, 2008 7:38am Nov 18, 2008 7:38am
time1300:

Thanks for the info on the 'other' pairs...
  • #17,883
  • Nov 18, 2008 8:23am Nov 18, 2008 8:23am
we will see a breakout soon
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  • #17,884
  • Nov 18, 2008 9:38am Nov 18, 2008 9:38am
Hi Palmer

I sent you an e-mail message last night and was wondering if you received it. Thanks

Peter
  • #17,885
  • Edited 12:51pm Nov 18, 2008 10:53am | Edited 12:51pm
Enter on a very slight Zerobreak. MACD just above zero but the candle formation before the signal and the signal candle was the real trigger. Nice bullish candle off the 21ema.

Entry 1.2659
Stoploss 1.2599
TP at 89sma (Will close 50% after 25pips and set remainder at -25pips)

Edit 1
50% closed for 25pips and remainder set at -25pips. Will go to Breakeven around 1.2700 with remainder

Edit 2
Set remainder at BE

Edit 3
Closed remainder at 1.2670 after pullback from 1.2700 level.

Total gain (25+11)/2=18pips
Attached Image (click to enlarge)
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  • #17,886
  • Nov 18, 2008 11:03am Nov 18, 2008 11:03am
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  • #17,887
  • Nov 18, 2008 12:31pm Nov 18, 2008 12:31pm
Peter: got it....


Phillip: watching the EU as well. Might be looking for a short here, difficult set-up until price gets out of this triangle...
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  • #17,888
  • Nov 18, 2008 12:55pm Nov 18, 2008 12:55pm
Quoting Palmer
Peter: got it....


Phillip: watching the EU as well. Might be looking for a short here, difficult set-up until price gets out of this triangle...
Yes. That is why I took that setup. Was trying to position myself for a breakout to the top if it happened. Now it is waiting again.
  • #17,889
  • Nov 18, 2008 12:55pm Nov 18, 2008 12:55pm
Hi there,

Could anybody please tell me, how can I enlarge the difference between lines (15,30,45.....) on MACD indicator. Mine are too close to each other, so it's kind of annoying.

Thank you kindly.

enit
  • #17,890
  • Nov 18, 2008 1:11pm Nov 18, 2008 1:11pm
Quoting Palmer
Peter: got it....


Phillip: watching the EU as well. Might be looking for a short here, difficult set-up until price gets out of this triangle...
looks like it wanna go south ,im in M5 TF waiting for sell signal
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  • #17,891
  • Edited 10:19pm Nov 18, 2008 1:17pm | Edited 10:19pm
I once again reversed my trade because of a Zerobreak o the downside.

Entry 1.2613
Stoploss 1.2663
TP Close 50% after 25pips and remainder at Bottom trendline

Edit 1
Closed 50% after 25pips and set remainder at -25. I will be looking to go down to the bottom trendline.

I am trying to position myself to be in a position should this trianlge breakout.

Edit 2
Remainder closed out for -25pips

Breakeven overall
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  • #17,892
  • Nov 18, 2008 1:29pm Nov 18, 2008 1:29pm
Hey guys, very dangerous situation on EUR/USD! Forming 5 wave ( shortest) ! The best WAVE is third!
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THINK LIKE A FUNDAMENTALIST; TRADE LIKE A TECHNICIAN
  • #17,893
  • Edited 2:41pm Nov 18, 2008 1:49pm | Edited 2:41pm
i am short also ,(with M5 system).BE after 20pips alittle concern about market speed
edit :out BE
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  • #17,894
  • Nov 18, 2008 2:18pm Nov 18, 2008 2:18pm
I'm with ya boys...

Short also, waited for the 1hr to close outside of the support line even though the -DM cross happened the bar before. Entered on a well limit of 2594...a few shy of 20 right now...
Attached Image
  • #17,895
  • Nov 18, 2008 2:21pm Nov 18, 2008 2:21pm
Quoting Reno_gr
Hey guys, very dangerous situation on EUR/USD! Forming 5 wave ( shortest) ! The best WAVE is third!
Reno...I don't count waves at all unless it's about chest high at the beach with the water temp over 80 degrees but I'm only looking at the 2520 area as the max to get out of this because of the congestion on the 4hr. So, I agree with you that this might be a short lived trade. Actually just exited one just shy of 20 because of this...
  • #17,896
  • Nov 18, 2008 2:26pm Nov 18, 2008 2:26pm
Hi Palmer

Thursday sounds good. For some reason, I can't send you a private message, so I have to resort to the general board. Anyways, when and how regarding Thursday.

Peter
  • #17,897
  • Nov 18, 2008 4:31pm Nov 18, 2008 4:31pm
+17, + 5, -20 for + 2 total...Cold feet
  • #17,898
  • Nov 18, 2008 6:06pm Nov 18, 2008 6:06pm
Quoting Phillip Nel
I once again reversed my trade because of a Zerobreak o the downside.

Entry 1.2613
Stoploss 1.2663
TP Close 50% after 25pips and remainder at Bottom trendline

Edit 1
Closed 50% after 25pips and set remainder at -25. I will be looking to go down to the bottom trendline.

I am trying to position myself to be in a position should this trianlge breakout.
Phillip, can you take a look at my chart and tell me why my candles are different than yours, I just can't put my fingers around it.

thank you
Attached Image (click to enlarge)
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Keeping Life Simple
  • #17,899
  • Nov 18, 2008 6:36pm Nov 18, 2008 6:36pm
kiwi in triangle and a possible breakout, Daily, H4 and H1 moving averages pointing down meaning a down trend. H1, H4 and Daily time frames, price action below 89 and a triangle formation. Daily chart, price has tested bottom channel line 4 times so chances of a break below is at higher probability.

I entered at 0.5509
S/L @ 0.5545 for 36 pips
will close 50% at trend line @ 0.5485 and set remainder at BE and have it position for a breakout to the downside.

P.S. I took this trade because of the less volatility I have seen in the major currencies.

Phillip and Palmer. I would like your opinion about this trade I took, give me your thoughts.
Attached Image (click to enlarge)
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Keeping Life Simple
  • #17,900
  • Nov 18, 2008 7:19pm Nov 18, 2008 7:19pm
Quoting time1300
kiwi in triangle and a possible breakout, Daily, H4 and H1 moving averages pointing down meaning a down trend....
Close 50% @ 0.5485 +24pips
Remainder set at 0.5530 -21pips
Keeping Life Simple
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