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4 Hour Strategy (MACD)

  • #2,001
  • Mar 7, 2007 10:17am Mar 7, 2007 10:17am
hi all, just to share some of my view, please correct me if i am wrong.. i also think that E/U is more on down side as there are 3 barries ahead,

1. the immediate downtrend resistance "A" ,
2. the 0.618 fibo retracement
3. the 89 sma.


i will wait for the MACD to give signal , most probably move above the zero macd line , and drop below the zero line again. a "TC" rght?

thanks and happy trading
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  • #2,002
  • Mar 7, 2007 10:18am Mar 7, 2007 10:18am
Quoting DireXiv
Great chart Tamkras,

I am looking for the eur/usd to short too. The market rythm really can help when trying to decifer when to trade... It has worked very well for me (but don't place too much dependence on it) as a secondary confirmation.

Correct me if I'm wrong, but another rule to think about would be that if the price crosses the 89, isn't it suppose to come back and touch the 89? Then continue in the trend previous established? In this case, it is basically touching or has touched, and should now continue in the down trend when we get a MACD signal (the 1 hour we're hitting newly established upper t/l too).
I share your thoughts. Price just reversed (read: failure) from 89SMA after re-testing it to the upside. Once it fails (based on MACD sell signal) there is a significant potential for the move down.
  • #2,003
  • Mar 7, 2007 10:21am Mar 7, 2007 10:21am
07March
Attached File(s)
File Type: zip DailyWrapup 07March.zip   836 KB | 1,585 downloads
  • #2,004
  • Mar 7, 2007 10:22am Mar 7, 2007 10:22am
Quoting tamkras
I share your thoughts. Price just reversed (read: failure) from 89SMA after re-testing it to the upside. Once it fails (based on MACD sell signal) there is a significant potential for the move down.

Awwwww!!!! hold that price there until I am back at my computer and can short it!!!!!!
  • #2,005
  • Mar 7, 2007 10:23am Mar 7, 2007 10:23am
Quoting pips4uandme
Then why'd you need that crystal ball? For price comfirmation (hehe)
I figured recently that crystall ball does not always work. My head does.
  • #2,006
  • Mar 7, 2007 10:27am Mar 7, 2007 10:27am
Quoting alcastro
Awwwww!!!! hold that price there until I am back at my computer and can short it!!!!!!
Please, do not rush to the sell orders until price action confirms it. I need completion of this bar to form a reversal candle. MACD sell signal will confirm the market action.
  • #2,007
  • Mar 7, 2007 10:32am Mar 7, 2007 10:32am
Quoting tamkras
When I posted a chart I was on the long side of euro and I wanted demonstrated an upside euro potential. If you can see the fat red bar on my euro chart, this is where I marked the resistance. When some traders posted their short orders at the 1.3130 price level, I was a bit concerned because of this empty space between 1.3130 which was broken and the bar level of 1.3159. Further price action confirmed this scenario completely. I hope you might understand my chart and my interpretation of support/resistance. Now, shorting from 1.3150 would provide you with a better R:R. Yours, T.

You can put me in the group of traders that shorted at the wrong time.
  • #2,008
  • Mar 7, 2007 10:36am Mar 7, 2007 10:36am
Quoting tamkras
Please, do not rush to the sell orders until price action confirms it. I need completion of this bar to form a reversal candle. MACD sell signal will confirm the market action.
Tam,
Don't worry. I am waiting for Mr. MACD.
But anyways...even if he gave me the go-ahead I won't be able to do anything until 6:00PM (EST). So my hands are tied at this moment.
  • #2,009
  • Mar 7, 2007 10:41am Mar 7, 2007 10:41am
Yea, I knew where it was going, just didn't think it was worth it going long in that situation. My sell limit should have been triggered as I am not at home. The GBP should be right behind it when we get the signal. My signal candle is at 1 EST and I wont be there so I will be using this post to kind of guide me as I go. I can see the price action from my computer at work, I just cant do anything about it except call and cancel if it gets out of hand. I do not trust ant broker to put an order on by phone and I have a very good reason for that
  • #2,010
  • Mar 7, 2007 10:45am Mar 7, 2007 10:45am
Info
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File Type: zip EurUsd.zip   345 KB | 1,186 downloads
  • #2,011
  • Mar 7, 2007 10:48am Mar 7, 2007 10:48am
Quoting pips4uandme
Awesome! Bet you figured price would come very close to the 89, especiallly since MACD was traveling in your trend direction! You are a great chartist!!!!!
thank you, Pips, for your kind words. And here is the trade for the sceptical auditors.
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  • #2,012
  • Mar 7, 2007 10:50am Mar 7, 2007 10:50am
Quoting Tw0eleven
You can put me in the group of traders that shorted at the wrong time.
I do not want you to be there. try to be a contrarian trader to your next impulsive trade.
  • #2,013
  • Mar 7, 2007 11:19am Mar 7, 2007 11:19am
Thanx 4 the daily wrap-up and updated info on eur/usd, Phillip!
  • #2,014
  • Mar 7, 2007 11:21am Mar 7, 2007 11:21am
Ya know...I'm home for lunch and I'm looking at that last trade and I can't think for the life of me why I went short there. I did notice that for some reason I didn't have my trendlines and price channels on the cahrt. I may have been posting something else so I deleted them. I put them back on and wtf was I thinking?! Something is wacked because I don't even have a red MACD bar on that close of the entry, the dashed yellow line. This would (should) have been a long entry just based on the channels...1hr chart Euro$.

Don't listen to me ever again....Damn I'm good looking!
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  • #2,015
  • Mar 7, 2007 11:25am Mar 7, 2007 11:25am
Hey all,

From the looks of what I can see at work, (And Im limited considerably with only a 5 minute chart) But it looks like this pair has made a lower high. Can anyone confirm. And lets hope for a lower low coming up.

J
  • #2,016
  • Mar 7, 2007 11:28am Mar 7, 2007 11:28am
hardhead:

I just posted that chart a few minutes ago, I've got a higher high on the 1hr...
  • #2,017
  • Mar 7, 2007 11:41am Mar 7, 2007 11:41am
Me and my big mouth.........!
  • #2,018
  • Mar 7, 2007 11:49am Mar 7, 2007 11:49am
Quoting tamkras
I do not want you to be there. try to be a contrarian trader to your next impulsive trade.
Roger That!
  • #2,019
  • Mar 7, 2007 12:05pm Mar 7, 2007 12:05pm
Quoting alcastro
Tam,
Don't worry. I am waiting for Mr. MACD.
But anyways...even if he gave me the go-ahead I won't be able to do anything until 6:00PM (EST). So my hands are tied at this moment.
Understood. But I am still waiting for thank-you for your recent usd/cad trade. Remember? Please, be a gentleman!
  • #2,020
  • Mar 7, 2007 12:12pm Mar 7, 2007 12:12pm
Quoting Palmer
Ya know...I'm home for lunch and I'm looking at that last trade and I can't think for the life of me why I went short there. I did notice that for some reason I didn't have my trendlines and price channels on the cahrt. I may have been posting something else so I deleted them. I put them back on and wtf was I thinking?! Something is wacked because I don't even have a red MACD bar on that close of the entry, the dashed yellow line. This would (should) have been a long entry just based on the channels...1hr chart Euro$.

Don't listen to me ever again....Damn I'm good looking!
Could it be b/c it was late and the 1 Hour was turning...so you front ran the trade? Also, there was all kinds of wackiness going on yesterday...some sort of euphoria....

I think it was the AJ hand....just me!

At least you got looks!!!!!!!!!! (hope that didn't sound mean...not meant meanly)
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