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4 Hour Strategy (MACD)

  • #18,041
  • Edited 7:01am Nov 28, 2008 6:04am | Edited 7:01am
entered on strong market ryhthm,
MACD gave a Zero break signal
breakout pullback formation on the 1H

entry @ 1.2789
S/L @ 1.2830 41pips
TP @ 1.2705 84pips

will close 50% after 25 pips
set remainder at -25 and let rest run

Edit:
Closed 50% @1.2761 28pips
set remainder at -26 pips @ 1.2815

Edit:
Closed another 50% @ 1.2731 58pips
moved S/L to BE +20

Edit:
Closed remaining position manually @ 1.2712 +77pips
few minutes later original TP was hit, but i had to get ready for shopping lol.
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Keeping Life Simple
  • #18,042
  • Edited 8:13am Nov 28, 2008 8:01am | Edited 8:13am
Quoting Cinema007
http://www.forexfactory.com/attachme...1&d=1227857147
Congratulations for your success but just for ease my curiousity...
Why don't you post these trades in 5 min Intraday thread?
I don't see any analysis related to 4H Strategy
Greetings.
  • #18,043
  • Nov 28, 2008 8:55am Nov 28, 2008 8:55am
Quoting time1300
I also got into the trade

Reasons:
04:00 candle has given the TC signal
Last 2 candles a dojis followed by a nice engulfing bullish candle
Also price is close to a trend line
Price has stayed above the 200sma after crossing it and pulled back to it and now a possibility for bouncing off and maybe a breakout above the trend line
Also 21ema close to the 200sma and acting as support as well.

Will close 50% at just below trend line and move remainding to BE and give it a chance to breakout if it does.


Also the...
I took the same decision to close 50% at Trendline but it never happened. We had a Zerobreak, with small candles on the 21ema and a bullish candle. Everything was perfect but it just did not worked out.
There was nothing wrong with our analyses. Just one of those trades that is part of the game.

I have split my stoploss in 60 and 30 for an overall loss of 45pips.
  • #18,044
  • Nov 28, 2008 10:11am Nov 28, 2008 10:11am
I am studying now!
easy come, easy go!
  • #18,045
  • Nov 28, 2008 1:39pm Nov 28, 2008 1:39pm
Quoting Phillip Nel
I took the same decision to close 50% at Trendline but it never happened. We had a Zerobreak, with small candles on the 21ema and a bullish candle. Everything was perfect but it just did not worked out.
There was nothing wrong with our analyses. Just one of those trades that is part of the game.

I have split my stoploss in 60 and 30 for an overall loss of 45pips.
Hello phillip,

well i am glad that it was just one of the losses that just didn't work. Because as you stated, all the confluences were there for a possibility of a breakout that just didn't work. You can see that when I saw the strenght for the downside with the zero break and that huge candle as well as price past the 200sma, i decided the market rhythm is strong enough and reentered in the different direction.

you have a great weekend phillip
Keeping Life Simple
  • #18,046
  • Nov 28, 2008 2:04pm Nov 28, 2008 2:04pm
I personally skipped this trade because of the near resistance. I wanted to see a 1h candle to close above it, but it never happened. In the rest this set-up looked good.
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  • #18,047
  • Nov 28, 2008 3:04pm Nov 28, 2008 3:04pm
Hi Ira,

Long time, No see

Take Care
Mike
Failure, is a wonderful teacher!
  • #18,048
  • Nov 29, 2008 2:24am Nov 29, 2008 2:24am
Quoting ira
I personally skipped this trade because of the near resistance. I wanted to see a 1h candle to close above it, but it never happened. In the rest this set-up looked good.
You took the right decision. That is why the nearby resistance was the target to secure some profit and let the rest have a chance if it breaks out. It turned around and then with another shortterm strategy the resistance found could be taken on in the opposite direction and the loss can be soften or even iluminated by it.

Nice to see you are still with us.
  • #18,049
  • Nov 29, 2008 6:12am Nov 29, 2008 6:12am
Quoting ira
I personally skipped this trade because of the near resistance. I wanted to see a 1h candle to close above it, but it never happened. In the rest this set-up looked good.
Hi, ira, nice to meet you.

I am in the same view with you. According to my experience, when price forms a TC against the resistant such as 89ema or trend line, it alway be a failure one, and fianlly forms a sHs, I think at this case, we definitley should use 1h or 5min to obeserve the trend and use only half lot.
Plan your trades and trade your plans
  • #18,050
  • Nov 29, 2008 11:21am Nov 29, 2008 11:21am
Hello guys, I'm always around. I read the thread almost everyday, but mostly trade 5min now.
  • #18,051
  • Nov 29, 2008 10:45pm Nov 29, 2008 10:45pm
Quoting ira
Hello guys, I'm always around. I read the thread almost everyday, but mostly trade 5min now.
me too, I find that when price approaching important sup/res, such as MAs at 4h or Daily, or trend lines, when 1h or 5min both show same signals, use half lots with 40-50 pips sl, that's a high probablility trade. We should first remember the rhythm at 4h, then there are always lots of opportunites every day.
Plan your trades and trade your plans
  • #18,052
  • Nov 30, 2008 5:29am Nov 30, 2008 5:29am
Quoting ira
Hello guys, I'm always around. I read the thread almost everyday, but mostly trade 5min now.
hi ,nice to see u ,looking forward to see ur and saka's posts in M5 thread
  • #18,053
  • Dec 1, 2008 3:16am Dec 1, 2008 3:16am
Usd/Jpy nice , quick trade
Enter 95.05
TP1 94.68
SL 95.37

when price moved at +15 i moved my sl at BE.

PS: i have to put TP2 at lower position but i went out to shop and when i came back its hitted TP1 :l
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  • #18,054
  • Edited 7:29am Dec 1, 2008 5:26am | Edited 7:29am
Sold at 1.2648 on the bearish TC from SMA89.
SL 1.2683 (35 pips) and 1.2703 (55 pips), av. 45 pips.
TP 1.2631 (20 pips) and 1.2550 (98 pips), av. 59 pips.
RR>1

At the moment (25 min after opening) position is in loss (-15..-20 pips). Let's see..

Edit1: after retracement (missed my SL1 by 3 or 4 pips) price went down, TP1 hit (+20 pips), SL of 2nd part moved to 1.2634 (+14 pips; over broken support).

Edit2: SL hit on the 2nd half (by 1 pips with +14 pips - trailing might have been too tight. Anyway. Total (20+14)/2=17 pips.
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  • #18,055
  • Dec 1, 2008 7:13am Dec 1, 2008 7:13am
Hi all,

Can anyone help me on this?
I took the round bottom after the closed of the green or blue bar on the MACD as signal. I had anticipate that the price break through 89ma and probably be going to either 8 or 21 ma.

It went up at first and i was up by about 20+pips. However, it did not go
much near to 8 or 21. Therefore, i stay put untill my 50 pips stoploss is hit after 8 hours later.

Is my approach to buy at that signal is correct?

thanks

vincent
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  • #18,056
  • Dec 1, 2008 7:58am Dec 1, 2008 7:58am
Quoting vincentlim
Hi all,

Can anyone help me on this?
I took the round bottom after the closed of the green or blue bar on the MACD as signal. I had anticipate that the price break through 89ma and probably be going to either 8 or 21 ma.

It went up at first and i was up by about 20+pips. However, it did not go
much near to 8 or 21. Therefore, i stay put untill my 50 pips stoploss is hit after 8 hours later.

Is my approach to buy at that signal is correct?

thanks

vincent
Hello vincent,

Just wanted to comment on your trade as in my opinion and of course others can add and further any comments as well. Everyday is a new learning day for all.

As for as your entry, if you take the MACD signal alone, the signal is giving a round bottom which tells you to enter, but if you have been following this thread as well as Phillip's MP3s, the main element is market emotion and price action around the moving averages. In this case, in my opinion there has not been a definite direction for the eur/usd as the moving averages are closely gathered. It could go in any direction at any given time. So there isn't a definite trend as your high probability trades are to trade with the trend. In this case, in my opinion taking trades will be risky and I personally would wait for a higher probability trade.

If for some reason you have to take a trade or want to trade, it will be very risky and you should take very quick profits and have a very tight stop loss.

I hope this gives some clarity on your trade and hopefully you will get other opinions from the other great contributors on this thread.
Keeping Life Simple
  • #18,057
  • Dec 1, 2008 8:21am Dec 1, 2008 8:21am
Hi Vincent,

Agree with everything that TIME1300 has said but would just add that if you are looking to take countertrend trades try to take them at a level of support, resistance, moving average or trend line.

I don't take these trades as there are enough trend continuation patterns available which, I believe, are higher probability.
James The Beekeeper
  • #18,058
  • Dec 1, 2008 8:35am Dec 1, 2008 8:35am
austrader:

Thanks for the MTF info post! Good stuff...

Vincent:

what time and edey said....The MACD formations are just one of the tools to trade by. Phillip has said many times not to trade just by the formations. The overall trend is still down and this was a CT trade, against the grain. IF you look back at the formations and when price is channelin either up/down, then these formtions have a little more weight to them as being reliable. I started out the same way, just looking at the MACD formations not really paying attention too much to the moving averages, now it's the other way around. I put the majority of the emphasis for trades on what the moving averages are telling me. There is a year's worth of charts for 2007 to print out on the website and make notes on. That's a good excersise.
  • #18,059
  • Dec 1, 2008 8:56am Dec 1, 2008 8:56am
Quoting Yorik
Sold at 1.2648 on the bearish TC from SMA89.
SL 1.2683 (35 pips) and 1.2703 (55 pips), av. 45 pips.
TP 1.2631 (20 pips) and 1.2550 (98 pips), av. 59 pips.
RR>1

At the moment (25 min after opening) position is in loss (-15..-20 pips). Let's see..

Edit1: after retracement (missed my SL1 by 3 or 4 pips) price went down, TP1 hit (+20 pips), SL of 2nd part moved to 1.2634 (+14 pips; over broken support).

Edit2: SL hit on the 2nd half (by 1 pips with +14 pips - trailing might have been too tight. Anyway. Total (20+14)/2=17 pips....
i use same chart (broker time) but there is no TC in my chart
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  • #18,060
  • Dec 1, 2008 9:39am Dec 1, 2008 9:39am
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