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4 Hour Strategy (MACD)

  • #2,341
  • Mar 12, 2007 2:58am Mar 12, 2007 2:58am
Looks like cable decided to go long afterall (thanks MACD)

results of trade:

Lot #1 -- closed instead of moving to BE at 7:35 GMT @ 1.9382 (thought BE would be hit and still was uncomfortable w/stop level. TC present on hourlies and support continued upmove (provided PPI is > .8). Result: +6 (11 w/ spread)

Lot #2 -- closed at 7:34 GMT @ 1.9393 Result: 46 pips (51 w/spread)

Now that I have time to think about it, I could have closed lot #1 for 16 pips and moved S/L on Lot #2 to BE + 10 (1.9352).

Total Pips banked = 52 (62 w/spread) Avg. pips = 26 pips

Monthly total: 2 Trades

1 = BE
1 = 52 pips
  • #2,342
  • Edited 3:20am Mar 12, 2007 2:59am | Edited 3:20am
Quoting pips4uandme
Yup, Hipster, you and I all have the same idea....let's make some pips!

Now, I must follow Palmer's lead and go get the food off the grill....

Well, staying in was worth it. 1mini at b.e. and 1mini at +20pips. I hope both of you did well. Pips4, you were right about the 1.9400 area. Price was rejected at 1.9395.

Update: just saw your post Pips, nice job...congrats!
  • #2,343
  • Mar 12, 2007 3:09am Mar 12, 2007 3:09am
Quoting razldazl
hi fx,
I got in at 3130 short, will add as it goes up, and it may go up to the trendline or 89 ma, so my sl is above there at 65. Lets see what happens
keep an eye on the 1 hour, looks like RB may actually be RB (just my 2 cents). But your SL is well thought out. Wish you lots of pips!
  • #2,344
  • Mar 12, 2007 3:12am Mar 12, 2007 3:12am
YIPPPEEEE!!! Tw0eleven and Hipster....you guys are in the pips! Hope you have more staying power than I did...still working on letting the trade run.
  • #2,345
  • Mar 12, 2007 3:16am Mar 12, 2007 3:16am
Quoting Tw0eleven
Well, staying in paid off for me. 1mini at b.e. and 1mini at +20pips. I hope both of you did well. Pips4, you were right about the 1.9400 area. Price was rejected at 1.9395.
Nice Job! Think price may still go up past 1.9400 but I wasn't willing to risk it
  • #2,346
  • Mar 12, 2007 3:29am Mar 12, 2007 3:29am
Quoting razldazl
hi fx,
I got in at 3130 short, will add as it goes up, and it may go up to the trendline or 89 ma, so my sl is above there at 65. Lets see what happens
yup razldazl,me too went short and the price shot up instead,i am gonna ask the big bear to come home soon!
  • #2,347
  • Mar 12, 2007 4:24am Mar 12, 2007 4:24am
will it bounce here at trendline hmmm...
Never say never.
  • #2,348
  • Mar 12, 2007 4:50am Mar 12, 2007 4:50am
took a 35 pip hit on that trade, thats what I get for not waiting for good confirmation on 4hr. I will now wait and see if there is a zero bounce or if it continues on up, its looking pretty comfortable up there so it might just keep on going...
Never say never.
  • #2,349
  • Mar 12, 2007 5:07am Mar 12, 2007 5:07am
Pair took scenario #2, post #2232, with R/B & help from GBP news at 4:30. Up 24 pips, took TP1 at 89, let .1 ride & should go all the way to the outer T/L where I will look for a R/T signal. Pulled stop to B/E. Nce way to start a week.

J
  • #2,350
  • Mar 12, 2007 5:14am Mar 12, 2007 5:14am
Quoting hard1head1
Pair took scenario #2, post #2232, with R/B & help from GBP news at 4:30. Up 24 pips, took TP1 at 89, let .1 ride & should go all the way to the outer T/L where I will look for a R/T signal. Pulled stop to B/E. Nce way to start a week.

J
Nice work. Patience pays off
Never say never.
  • #2,351
  • Mar 12, 2007 6:20am Mar 12, 2007 6:20am
Well , pair is finding res. at 3180. Gonna pull out and save the extra pips, looks like it is gonna turn at that level. Got a spinning top and may be the start of a RT on the 1 hr.

J
  • #2,352
  • Mar 12, 2007 6:22am Mar 12, 2007 6:22am
Quoting hard1head1
Well , pair is finding res. at 3180. Gonna pull out and save the extra pips, looks like it is gonna turn at that level. Got a spinning top and may be the start of a RT on the 1 hr.

J
Swissy is at an interesting point as well
Never say never.
  • #2,353
  • Mar 12, 2007 6:39am Mar 12, 2007 6:39am
This pair is starting to form lower highs and lower lows on the 1 & 5 minute, also RT forming on the 1 hour. This pair is going short, lets wait for Phil signal and see if I am right. Pair is sitting on 21 EMA right now.

J
  • #2,354
  • Mar 12, 2007 6:39am Mar 12, 2007 6:39am
Does anyone know why Philip trades only the evening candles, is it because of his timezone or did he find those worked best or was there another reason? Thanks very much to anyone who knows...
Never say never.
  • #2,355
  • Mar 12, 2007 6:41am Mar 12, 2007 6:41am
I got a funny feeling this pair is going south
  • #2,356
  • Mar 12, 2007 6:55am Mar 12, 2007 6:55am
Quoting razldazl
Does anyone know why Philip trades only the evening candles, is it because of his timezone or did he find those worked best or was there another reason? Thanks very much to anyone who knows...
hi raz, he explains it in the pdf, but i think he says that those were the only time when he had access to trade
  • #2,357
  • Mar 12, 2007 6:57am Mar 12, 2007 6:57am
There is a evening star forming on the 1 hour
  • #2,358
  • Mar 12, 2007 7:01am Mar 12, 2007 7:01am
Quoting hard1head1
There is a evening star forming on the 1 hour
You are probly right hardhead, but you know you will burn in hell if you dont wait for a confirmation
Never say never.
  • #2,359
  • Mar 12, 2007 7:35am Mar 12, 2007 7:35am
Quoting hard1head1
I got a funny feeling this pair is going south
...
Never say never.
  • #2,360
  • Mar 12, 2007 7:43am Mar 12, 2007 7:43am
I got in on this downtrend on the close of my brokers candle with MIG data supporting.

Previous candle touched the 89, which was inevitable after it was in a downtrend and blew through the 21 ema at the end of last week, which to me means trend over.... going to 89. Which it did. The MACD then turned at the close of that candle on my broker and since the MIG data ended 1 hour before I was able to use that, and the MACD confirmed there also. It then proceeded to go through the price level barrier, past the 8 ema and come close to the 21 ema.. before slowing at the price level... of course I had my last lot limit set above the price level to get taken out .

Entry: 155.22
S/L: 155.60 Relatively high because of tail... but enough to clear 155.50 price level.
1st TP: 155.08 for 14 pips but banking on it continuing to the 21ema for good R:R
2nd TP: 154.60 for 62 pips...

Got both TP's and it is now pulling back.

Summary 2 lots total of 76 pips = 38 pips.

This followed each rule... take a look.
DireXiv Make it happen, no one else is going to do it for you...
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