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4 Hour Strategy (MACD)

  • #2,021
  • Mar 7, 2007 12:18pm Mar 7, 2007 12:18pm
Quoting Palmer
hardhead:

I just posted that chart a few minutes ago, I've got a higher high on the 1hr...
I'm only using Palmer's quote to recap something Phillip said today in his recap. Only use the 1 hour charts after you see something on the 4 hour. To me this means don't front run the trade or you subject yourself to entering trade a little early (which can be great or it can be terrible)! Its OK to leave pips on the table as long as you bank some in the end.

If your looking and planning from the 1 hour, test first. see what your expectancy is. Look at Palmer and Dire and TamKras and Alcastro....very few losses and great gains! Don't know others record off hand...is my memory failing already???
  • #2,022
  • Mar 7, 2007 12:20pm Mar 7, 2007 12:20pm
Guys it looks like to me that if the euro and pound dont breakout then we might just be in a temporary sideways correction before another leg down...

looking at the 4hr chart the 9350 level on cable has provided some stiff resistance, price has retraced 38% of the most recent down move the next downside target would the 9000 level...

im looking for a break of 9265 as a possible start to the next wave lower, not saying the pound wont climb backup.. but the picture looks bearish

we have had a previous downtrend with a price retracement and it looks like there might be another leg down before we get a rebound... just some thoughts I wanted to share.
  • #2,023
  • Mar 7, 2007 12:20pm Mar 7, 2007 12:20pm
Quoting Phillip Nel
07March
Thanks, Phillip. Very good as always.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #2,024
  • Mar 7, 2007 12:23pm Mar 7, 2007 12:23pm
Quoting tamkras
Understood. But I am still waiting for thank-you for your recent usd/cad trade. Remember? Please, be a gentleman!
I'm not a gentleman (obviously) and the usd/cad trade wasn't mine....but thanks for making me see chart patterns everywhere! Last two nights, I've looked across the canyon at the house lights....first night was 1-2-3 pattern (uptrend)...last night wa IND....have I finally gone over the edge? EEEEEKKKKK.......

And, finally, I see the curves of the market...the painter's paintbrush....the rounding of price action....Yippee......

So.....THANK YOU!!!! & A big THANKS to all the traders on this forum who have helped me "see."
  • #2,025
  • Mar 7, 2007 12:30pm Mar 7, 2007 12:30pm
Hey all,

These pairs may be stale awaiting those all important rate decisions in the morning......!

J
  • #2,026
  • Mar 7, 2007 12:30pm Mar 7, 2007 12:30pm
Quoting enoc2g
Guys it looks like to me that if the euro and pound dont breakout then we might just be in a temporary sideways correction before another leg down...

looking at the 4hr chart the 9350 level on cable has provided some stiff resistance, price has retraced 38% of the most recent down move the next downside target would the 9000 level...

im looking for a break of 9265 as a possible start to the next wave lower, not saying the pound wont climb backup.. but the picture looks bearish

we have had a previous downtrend with a price retracement and it looks like there might be another leg down before we get a rebound... just some thoughts I wanted to share.
Thanks for your thoughts! I like hearing others analysis...even though we all need to listen to what the market tells us w/price action...it's fun to put what we think will happen and see if it comes true. (don't you think a break of the 2 day low of 1.9184 would really open up the downside for cable?). Guess we all will have a better idea after this week...
  • #2,027
  • Mar 7, 2007 12:32pm Mar 7, 2007 12:32pm
Quoting tamkras
Understood. But I am still waiting for thank-you for your recent usd/cad trade. Remember? Please, be a gentleman!

Ooops, Tam. Soooor ryyy!!!!!
I didn't mean to NOT thank you for that one.
Thank you. It was short but nice.
  • #2,028
  • Mar 7, 2007 12:36pm Mar 7, 2007 12:36pm
Quoting alcastro
Ooops, Tam. Soooor ryyy!!!!!
I didn't mean to NOT thank you for that one.
Thank you. It was short but nice.
This is me now
  • #2,029
  • Mar 7, 2007 12:57pm Mar 7, 2007 12:57pm
Hey now...If someone else can make up an excuse for one of my losing trades, that's even better!:

I'm really not good looking, just thought I'd mention that too.
  • #2,030
  • Mar 7, 2007 1:10pm Mar 7, 2007 1:10pm
Hi all,

All signals go long on 4hr,1hr,30min,15min but a lot of resistance here 89 on 4hr, sloping res. line and 61 fib.

Do we wait for it to clear these or is ther no way we should be going long?

cheers
  • #2,031
  • Edited 1:25pm Mar 7, 2007 1:14pm | Edited 1:25pm
Still long Euro, up 50 pips.

Going long Cable at 1.9280 cause it just crossed the 0 line
  • #2,032
  • Edited 1:44pm Mar 7, 2007 1:29pm | Edited 1:44pm
Quoting FOURX
Hi all,

All signals go long on 4hr,1hr,30min,15min but a lot of resistance here 89 on 4hr, sloping res. line and 61 fib.

Do we wait for it to clear these or is ther no way we should be going long?

cheers
stop-losses above the slope line are currently being triggered. They are falling like heroes. I respect them. They prepare for bear attack.
  • #2,033
  • Mar 7, 2007 1:39pm Mar 7, 2007 1:39pm
I got the Euro just below 61.8 Fib. Still waiting patiently for the turn.

Aj
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #2,034
  • Mar 7, 2007 1:59pm Mar 7, 2007 1:59pm
hi guys,

Ive been reading and watching for a couple of days now. I was really sure that this was a continuation pattern on all of the pairs I was watching, eur/usd, eurjpy, cad...but how do you know for sure? I was waiting for a signal to sell eur and ej , and buy cad but they seem to be getting stronger and stronger...what to do...best do nothing until there is a clear signal...eur has gone way farther than I expected it to...well, lets see what happens Im glad Im not in there yet. Thanks for all of you keeping this happening I am really intrigued by this strat. Also wondering who is trading this live? I cant believe Philip paper traded for two years, god what patience! Looking forward to contributing on a regular basis..
Never say never.
  • #2,035
  • Mar 7, 2007 2:03pm Mar 7, 2007 2:03pm
Running out of gas......???????????? Be nice to see it hang a nice long wick on that current candle.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #2,036
  • Mar 7, 2007 2:04pm Mar 7, 2007 2:04pm
Hi Raz,

Look forward to your comments.
  • #2,037
  • Mar 7, 2007 2:20pm Mar 7, 2007 2:20pm
four where did you take the fib from 27/02 to the bottom? So you sold from here really didnt you..hmm I like this thread because theres a little bit of everything, someone who bought the macd 0 cross, a poet, a fortune teller...hehe well lets see what happens, Im standing aside for now lots of news tomorrow. What do you do when the news approaches, Im used to trading the fundies so I really dont know whether to ignore the news (except the biggies) or what...what do you guys do? Thanks again
Never say never.
  • #2,038
  • Mar 7, 2007 2:43pm Mar 7, 2007 2:43pm
Quoting razldazl
four where did you take the fib from 27/02 to the bottom? So you sold from here really didnt you..hmm I like this thread because theres a little bit of everything, someone who bought the macd 0 cross, a poet, a fortune teller...hehe well lets see what happens, Im standing aside for now lots of news tomorrow. What do you do when the news approaches, Im used to trading the fundies so I really dont know whether to ignore the news (except the biggies) or what...what do you guys do? Thanks again
hey, Raz! stick to this forum and you will enjoy it. As a reminder I also talked about an athlete A WEEK before the spectacular pound fall. Talking about fortune-telling... Please, be careful! Yours, T.
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  • #2,039
  • Mar 7, 2007 2:48pm Mar 7, 2007 2:48pm
Oh Im sticking around allright, this is a compelling combination...
Never say never.
  • #2,040
  • Mar 7, 2007 2:56pm Mar 7, 2007 2:56pm
just a quick question to anyone who happens to be around, would you consider the bars from 05/03 at 0800 to 06/03 at 1600 as a round bottom? (Im in Spain btw) so then a buy from open at 3105 ie opening of next bar at 2000 on 06/03? This is gmt +1 here so I guess the times would be -6 for est, thanks to anyone with an answer. Basically the tip of the last hump down...that doesnt sound poetic at all Im afraid, next to bears with no paws ...
Never say never.
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