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4 Hour Strategy (MACD)

  • #2,061
  • Mar 7, 2007 4:29pm Mar 7, 2007 4:29pm
Been following this thread from the beginning... love it and all the great contributions. I am just learning.

I did take the USD/CHF short last night (EST). Floundered for awhile, but today's drop was nice. Missed about half of the potential as I am at work and set a conservatative TP.

Think I'll bring a laptop to work and set it up behind me on broadband wireless connection.


Wayne


Quoting pilgrim
Thanks Tam, I love barbequed ribs! This forum has it all a great strategy, daily update, excellent analysis, definitely the place to be and the price is great!

Anybody take the USD/CHF short, I got a few pips but closed out before the nice drop.

I'm on the sidelines right now.
  • #2,062
  • Mar 7, 2007 4:30pm Mar 7, 2007 4:30pm
Quoting pips4uandme
Did you get stopped?

Either way, great trade! (much better if you entered after 9:00 GMT)
Yeah, for the 30 pips, I was at work when it hit.
  • #2,063
  • Mar 7, 2007 4:34pm Mar 7, 2007 4:34pm
Quoting tamkras
hm, I can not find my post of aud/usd, that's strange... I am sure it was there explaining the entry. Price action is more important to me as I explained in the previous notes. Price acted too fast in front of my eyes and there is no technology/system 100% that can say it is going up or down. Only I am responsible for my decision. MACD backs up my decision. 4HR MACD green bar for that pair was formed with a delay but 1HR was o.k. This is where I'm free to interpret the right time to enter. The most important decision that I have to make is whether the price takes a rest for a while before the next run-up or it halts. Daily patterns help me to see this.
I love it (that you are responsible for your decisions and use your head)!

Thanks again for the explaination. Am so appreciative of all the time everyone gives on this forum to make us all better traders.
  • #2,064
  • Mar 7, 2007 4:35pm Mar 7, 2007 4:35pm
Quoting HipsterPipster
Anyone watching the GBP/USD. Possible 0 crossover on the 4hr.
My bar doesn't close for another 1.5 hours, but I think you're right.
  • #2,065
  • Edited 4:56pm Mar 7, 2007 4:40pm | Edited 4:56pm
Quoting pips4uandme
Ummmmm.... based on the left side of the chart....Long!!!! (hehehe...).

Seriously, You are going short based on Res. and MACD signal. Stop...Ack! I need to see the chart again...I'll be right back!

Stop a few pips above 77.97! I see the line....: )....and the IND...which is the resistance I was refering to. Viva La Resistance!
Bingo! I would place SL 10 pips above to protect your position from further price advance if the price level .7800 is broken. You see how this resistance line, price level and the upside down pattern talk to each other in a secret language. This is the price language. The price has a memory and I thought this is nonsense. It is truly a nonsense, noise if you do not try to understand. You will realize the more you spend time in the price dimensions, daily charts reading, curves, bumps, hills, etc. it is a different world. Good luck!

P.S. oh, by the way, I am a normal person who likes dancing clubs and bowling.
  • #2,066
  • Mar 7, 2007 4:42pm Mar 7, 2007 4:42pm
Gone short at .96. I jumped the gun 20 min on the 4 hr. We'll see if I bite the bullet.
  • #2,067
  • Mar 7, 2007 5:07pm Mar 7, 2007 5:07pm
Yup... took 45 pips on 5 lots.... confirmed the movement on the 1 hour second candle... using trendlines, up against 21 ema on 4 hour, below 89, so down mood, previous history helped, macd forming zero cross over on 4 hour. 1-2-3 candle pattern setting it up as well as a "small tweezer" on the previous 4 hour candle. The only thing that made me a bit sketchy even with all these "good things" was the spinner candle on the 1 hour (on my broker chart, probably all this was different on most of yours).

Entry: 1.9329
S/L:1.9355
1 profit: 1.9305 for 24 pips.. vs 25 pips
R:R good

Quoting HipsterPipster
Anyone watching the GBP/USD. Possible 0 crossover on the 4hr.
DireXiv Make it happen, no one else is going to do it for you...
  • #2,068
  • Mar 7, 2007 5:11pm Mar 7, 2007 5:11pm
Quoting HipsterPipster
Gone short at .96. I jumped the gun 20 min on the 4 hr. We'll see if I bite the bullet.

Hi Hipster,

I've been short in this pair since 116.30. Closed half of my position at my 1st TP at 115.84. Waitong for it to drop further with my other half. So we're together in this one!!

Opened a long position this morning in the US/CAD @ 1.1767 with a s/l @ 1.1744 (just below a support line). Well..the #$%&!! dropped its tail, hit my stop and now it is going up!!!

Waitng for cable to drop. But the MACD has not painted the histogram yet.
  • #2,069
  • Mar 7, 2007 5:25pm Mar 7, 2007 5:25pm
This post is about GBP/US (tus deseos son ordenes RAZLDAZL).

I am oficially in with a short positiion.
In @ 1.9279
s/l: 1.9302 (above t/l)
t/p 1: 1.9196

MACD in 4hr showing a bounce from zero.
MACD 1 hr confirmation.

One question: are my stops too tight?
  • #2,070
  • Edited 5:33pm Mar 7, 2007 5:26pm | Edited 5:33pm
Quoting HipsterPipster
Tamkras, great job on the formation reading.
it is amazing how it works for me over and over again. I posted the chart 1 hour ago, explaining all the nitty-gritty details. Anyone watching this thread could open their positions and then as if waiting for piggy's order (I said 'GO!) the price flinched from the piggyish roar! Everyone, have a good night! Yours, T.
  • #2,071
  • Edited 5:34pm Mar 7, 2007 5:33pm | Edited 5:34pm
Quoting tamkras
it is amazing how it works for me over and over again. I posted the chart 1 hour ago, explaining all the nitty-gritty details. Anyone watching this thread could open their positions and then as if waiting for my order (I said 'GO!) the price flinched from my piggyish roar! Everyone, have a good night! Yours, T.

Tam,

can you explain a little more your chart? Why is the t/l there? I don't seem to see that price bounced from it before.
Why did you think it was going down? (other than the MACD pattern)
  • #2,072
  • Mar 7, 2007 5:48pm Mar 7, 2007 5:48pm
hi guys , any 1 take the short U/J trade , luks like a TC going down ?
  • #2,073
  • Mar 7, 2007 5:50pm Mar 7, 2007 5:50pm
Nice Tamara, Thanks a lot, comes complete with inverted hammer and all.

Jim
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #2,074
  • Mar 7, 2007 5:50pm Mar 7, 2007 5:50pm
Quoting alcastro
Tam,

can you explain a little more your chart? Why is the t/l there? I don't seem to see that price bounced from it before.
Why did you think it was going down? (other than the MACD pattern)
TamKras and I were discussing the double mounds, nesting dolls again. That's why the Res. level is there and why the short. Know this was directed towards Tamara...hope you don't mind me answering....

Congrats on mega pips on yen!
  • #2,075
  • Mar 7, 2007 5:54pm Mar 7, 2007 5:54pm
Thanks pips.

Regarding the GBP/US trade: I jumped before time. If it is going to be short I have to wait after the 1st. red bar has formed completely, and jump on the 2nd one, with 1 hr confirmation (that is what Phillips said in his excellent pdf). I don't know why I am rushing this thing!!! Well....discipline...DISCIPLINE!!!! (I am still in the trade....but that is not an excuse)
  • #2,076
  • Mar 7, 2007 5:55pm Mar 7, 2007 5:55pm
This pair has formed a head and shoulders formation and is at the last shoulder, however, the last shoulder has almost come to the top of the head. If you like the 8 pip spread. It should be about ready to come down.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #2,077
  • Mar 7, 2007 5:58pm Mar 7, 2007 5:58pm
Quoting alcastro
This post is about GBP/US (tus deseos son ordenes RAZLDAZL).

I am oficially in with a short positiion.
In @ 1.9279
s/l: 1.9302 (above t/l)
t/p 1: 1.9196

MACD in 4hr showing a bounce from zero.
MACD 1 hr confirmation.

One question: are my stops too tight?
My MACD doesn't show bounce Does yours have trend continuation? Mine looks long.. Ignore trendlines
Attached Image
  • #2,078
  • Mar 7, 2007 6:01pm Mar 7, 2007 6:01pm
Dont worry about it alcastro, As long as you don't repeat mistakes every mistake is worthwhile.

I have a question for Philip:

You said that your system works for both the Eur/Usd and the Gbp/Usd.
Do you find the that Eur/Usd gives more accurate signals using your macd system when compared to Gbp/Usd? It is something I am starting to notice.

thanks..
  • #2,079
  • Mar 7, 2007 6:01pm Mar 7, 2007 6:01pm
Quoting pips4uandme
My MACD doesn't show bounce Does yours have trend continuation? Mine looks long.. Ignore trendlines

Maybe ur right PIPS. I pulled the trigger too soon...and maybe it will cost me!!
  • #2,080
  • Mar 7, 2007 6:03pm Mar 7, 2007 6:03pm
Mine shows a bounce

The MACD repaints itself, I went long when it crossed 0, but it is no longer showing that 0 cross on my charts.
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