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4 Hour Strategy (MACD)

  • #1,921
  • Mar 6, 2007 4:33pm Mar 6, 2007 4:33pm
Quoting hard1head1
Yes, your right, that 21 goes without question. I am in front of my computer and will pull it if I have to with the slightest inkling of a turn.

J

A Trend Continuation (short) off the 21 ema ( on both the Euro and Pound)would be a high probability trade because it would be with the trend (89 sma).

But I (we) will follow the rules and wait for the signal (4 hour).
You never know what will happen. Price may go to the moon.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,922
  • Mar 6, 2007 4:38pm Mar 6, 2007 4:38pm
I am seeing a possible Head and Shoulders on the Euro. If the price goes past the 21EMA and the MACD signals long I will look for a PT at 1.3186.
Attached Image
  • #1,923
  • Mar 6, 2007 4:38pm Mar 6, 2007 4:38pm
Jarroo,

I know it will probably turn there, and Im prepared. Im just saying that because of the long down move it could go there? I appreciate your comments as I learn from them Daily

J
  • #1,924
  • Mar 6, 2007 4:39pm Mar 6, 2007 4:39pm
You got it Ryant
  • #1,925
  • Mar 6, 2007 4:39pm Mar 6, 2007 4:39pm
Hi Jim and J,

sorry, been backtesting cable all day and twisted your euro post into cable....

Glad you guys are getting many pips today!!!!
  • #1,926
  • Mar 6, 2007 4:42pm Mar 6, 2007 4:42pm
But it may hit the 89 and bounce forming a short shoulder. Thats is why I made the comment before.

J
  • #1,927
  • Edited 5:02pm Mar 6, 2007 4:43pm | Edited 5:02pm
Quoting cologg
By the way, the trade went to +13 and I'd read a bit of feedback at this point, realised I jumped the gun, and set my SL to BE, which was hit a little later.

No loss, No gain, but learnt to be more patient.

Your wrong about the "no gain". You gained alot of knowledge about trading. You realized you jumped the gun, gave your trade a chance and got out a B/E. Not to many traders would have done that. Others would have taken a 50-100 pip loss and wondered what went wrong. Your the man!

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,928
  • Mar 6, 2007 4:44pm Mar 6, 2007 4:44pm
This pair is showing a slight RT on the 1 hr, however, we dont take that into consideration, just a TC on the 1 hr, Right? Can anyone verify this for me?

J
  • #1,929
  • Mar 6, 2007 4:51pm Mar 6, 2007 4:51pm
No one is talking about the EURGBP, I think well worth watching at present on the hourly. I have already sold it because the R+R is good,I will sell again once we get through minor support at 6789 and the looming 89SMA, prob at 6785 area.Important support and weekly pivot at 6758.Please excuse the liness on MACD, my experiments.
Attached Image
  • #1,930
  • Mar 6, 2007 4:59pm Mar 6, 2007 4:59pm
Quoting hard1head1
This pair is showing a slight RT on the 1 hr, however, we dont take that into consideration, just a TC on the 1 hr, Right? Can anyone verify this for me?

J
Yes hardhead, that is my understanding too,that you only do TC signal on 1 hr and if not confirmed by 4hr , the 4 hr takes precidence. Im pretty sure that what philliop said.
  • #1,931
  • Mar 6, 2007 5:16pm Mar 6, 2007 5:16pm
Quoting hard1head1
But it may hit the 89 and bounce forming a short shoulder. Thats is why I made the comment before.

J
I missed your earlier comment. I saw the 89 and will monitor the price action live in case I need to close it, hopefully for a small profit.
  • #1,932
  • Mar 6, 2007 5:23pm Mar 6, 2007 5:23pm
Thanks Ozeeke,

I appreciate it. Up 70 pips right now EUR/USD, EUR/CHY, GBP/USD long & AUD/JPY short.

J
  • #1,933
  • Mar 6, 2007 5:27pm Mar 6, 2007 5:27pm
Hoping for the 2 majors EUR & GBP to do the old Blew By You to that 21 EMA. Sitting on them now/

J
  • #1,934
  • Mar 6, 2007 5:30pm Mar 6, 2007 5:30pm
Hi all.

Am I right in saying, both G/U and E/U 4 hr and 1 hr say long, but because the 89 is heading down we wait?
  • #1,935
  • Mar 6, 2007 5:31pm Mar 6, 2007 5:31pm
It would be ideal for it to hit the X marks the spot. Then we can all ride this baby down.

J
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  • #1,936
  • Mar 6, 2007 5:41pm Mar 6, 2007 5:41pm
Hey Ryant, We may get our shoulder after all.

J
  • #1,937
  • Mar 6, 2007 6:18pm Mar 6, 2007 6:18pm
Quoting oztrader
No one is talking about the EURGBP, I think well worth watching at present on the hourly. I have already sold it because the R+R is good,I will sell again once we get through minor support at 6789 and the looming 89SMA, prob at 6785 area.Important support and weekly pivot at 6758.Please excuse the liness on MACD, my experiments.

Hi oztrader,

I am have been watching this forum and learning a lot. If you don't I have a question. On your chart you show arrows pointing down and up. Is this on a EA that you run? and if so is it available?

Appreciate your help

AJ
  • #1,938
  • Mar 6, 2007 6:22pm Mar 6, 2007 6:22pm
Sorry AJ, Im in 4 right now or Id be lookin a with ya

J
  • #1,939
  • Mar 6, 2007 6:29pm Mar 6, 2007 6:29pm
I am currently sitting by the sidelines. i don't see any trade yet, but this is what i am watching closely:
1-GBP/US: Waiting for a Bounce from Zero in MACD to the short side.

2- US/CAD: Waiting for price to bounce up from a TL at 1.1747. And for MACD to Bounce from Zero. Long play.

3- US/JPY: Small RT in MACD to the short side (not yet. Hoping that it will form). The price may bounce down from the 21MA.

4- Euro/US: The price is being rejected by the 21MA to the short side. If this happens it will form the left shoulder that we are waiting for (are we?). And a bounce from Zero in MACD.

Am I missing something? Is there something out there that i didn't see? Shall I be jumping into something at this moment?

Comments as usual are very welcome: good, bad, and ugly.
  • #1,940
  • Mar 6, 2007 6:32pm Mar 6, 2007 6:32pm
Quoting hard1head1
Hey Ryant, We may get our shoulder after all.

J
HardHead,

I will be patient for the next candle.
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