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4 Hour Strategy (MACD)

  • #2,381
  • Edited 1:37pm Mar 12, 2007 12:57pm | Edited 1:37pm
Quoting Chandra
GBP/USD: March 12, 2007, 17:00 candle on 1hr chart:
Hi Jim Hard1Head1,
But, see the 1hr. it is RB (17:00 GMT candle on 1hr chart GBP/USD)
Hi Chandra,

Hard1Head1 was specifically talking about last nights price action. See the 3/12/07 11:00 GMT 1 hour candle. Pretty sure he combined the 4 hour inverted candle w/ the star on the 1 hour to make his accurate call (and TL rejection). Not long term prediction, just opportunity for last night trade.
  • #2,382
  • Mar 12, 2007 12:59pm Mar 12, 2007 12:59pm
Quoting Chandra
Hi Jim (Hard1Head1),
Do you have anything for me to read to understand Candle patterns? Anybody?
-Chandra
Steve Nison's Japanese Candlestick Charting Techniques (pricey but well worth it -- think it is in th $80 range at amazon).
  • #2,383
  • Mar 12, 2007 1:45pm Mar 12, 2007 1:45pm
Quoting nsscott
Can someone help me with reprinting the post I am responding to. When I click Quote, it just comes as part of my text. What do you do to separate it in posts?

Thx in advance,

Scott
Scott, I am responding to your posting. See the "/quote" at the end of your test (above)?
You go below and type your response as I am responding now to your posting.
If I wanted to get rid off your posting, I could have high-lighted it and deleted it. You too can do that.
-Chandra
  • #2,384
  • Mar 12, 2007 2:31pm Mar 12, 2007 2:31pm
PIP, Here is the trade, The counter I was talking about is in orange, the Evening star is unmistakable, and the 1 hr RT on the MACD. I could not pass up these 3 signals. My stoploss was just above the final red candle in the star formation and was 15 pips.

J
Attached Image
  • #2,385
  • Mar 12, 2007 2:36pm Mar 12, 2007 2:36pm
This Phillip post from the past applied to the Euro and GBP today.

Jim
At least to the Euro, could develop for the GBP.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #2,386
  • Mar 12, 2007 2:52pm Mar 12, 2007 2:52pm
Quoting hard1head1
PIP, Here is the trade, The counter I was talking about is in orange, the Evening star is unmistakable, and the 1 hr RT on the MACD. I could not pass up these 3 signals. My stoploss was just above the final red candle in the star formation and was 15 pips.

J
Thanks for the post!

Know that this wasn't a 4 hr strategy trade....but it was beautiful!!!!! Wish I had stayed up last night (sometimes PST is stinky).

Keep those pips accumulating in the account
  • #2,387
  • Mar 12, 2007 2:54pm Mar 12, 2007 2:54pm
Quoting jarroo
This Phillip post from the past applied to the Euro and GBP today.

Jim
At least to the Euro, could develop for the GBP.
Thanks for reposting this diagram! This picture (and Phillips explaination) has really helped me w/patience and understanding of price action at breakout.

Happy trading!
  • #2,388
  • Mar 12, 2007 3:10pm Mar 12, 2007 3:10pm
Quoting Phillip Nel
Info
thanks for that Philip, I definitely got in too early and missed the right opportunity.
Never say never.
  • #2,389
  • Mar 12, 2007 4:17pm Mar 12, 2007 4:17pm
Quoting Chandra
Scott, I am responding to your posting. See the "/quote" at the end of your test (above)?
You go below and type your response as I am responding now to your posting.
If I wanted to get rid off your posting, I could have high-lighted it and deleted it. You too can do that.
-Chandra
Thanks Chandra
  • #2,390
  • Mar 12, 2007 6:00pm Mar 12, 2007 6:00pm
Hi Jim (Hard1Head1),
Do you have anything for me to read to understand Candle patterns? Anybody?
-Chandra

I enjoy Candlestick Charting Explained by Gregory Morris. $40 on amazon and his site is www.hotcandle.com
  • #2,391
  • Mar 12, 2007 8:12pm Mar 12, 2007 8:12pm
It is early, still a couple of hours to go till bar close but if it closes red we would do well to be paying attention as MACD will also be red with what could be a RT.
Attached Image
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #2,392
  • Mar 12, 2007 8:35pm Mar 12, 2007 8:35pm
Where did you get the indicator that tells you how much time is left on the bar? thnx.
  • #2,393
  • Mar 12, 2007 8:41pm Mar 12, 2007 8:41pm
Quoting turk87
Where did you get the indicator that tells you how much time is left on the bar? thnx.
Here it is. Enjoy.
Attached File(s)
File Type: mq4 EJ_CandleTime[1]Hrs.mq4   2 KB | 864 downloads
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #2,394
  • Mar 12, 2007 10:00pm Mar 12, 2007 10:00pm
Quoting pips4uandme
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.
Great job guys, I stayed in for the turn around, moved my stop loss down for a profit of 35, I was still pushing for a little higher and it did move down to my stop loss while at work. I had one lot in so did not split my trade, this would have increased my pipage and I will do so in the future. Overall, good trade for me as my anticipation of market move was correct except for the TP area.
  • #2,395
  • Mar 12, 2007 10:06pm Mar 12, 2007 10:06pm
Quoting hard1head1
Guys and Gals,

I took this trade only after it broke a counter that I had drawn and spotted this evening star on the 1 hr. I was not going in blind, I would never do that. I could see the RT forming on the 1 hour also, I took a slight chance and it wasnt much of a gamble since I have been taught how to use counters when approaching areas of stiff res. I knew the RT was coming so I took my slight gamble and made over 100 pips on the deal. The reason I didn't mind getting in was the unbelievably unheard of stop loss of 15 pips. I'll take that gamble on a broken counter in front of res. any day, especially when there is nothing in the way. By the way, I had that stop at break even faster than you could say, (Its a good start to another week.)

I just didn't want you to think I just jumped in, I did a lot of analysis on that pair in the weeeee hours of the morning.



Thanks, Jim
Rock on Hard1
  • #2,396
  • Mar 12, 2007 10:14pm Mar 12, 2007 10:14pm
Quoting pip pirate 2
Hi Jim (Hard1Head1),
Do you have anything for me to read to understand Candle patterns? Anybody?
-Chandra

I enjoy Candlestick Charting Explained by Gregory Morris. $40 on amazon and his site is www.hotcandle.com
I have "The Candlestick Course", by Steve Nison It is expensive new but I snagged a used copy off of amazon for cheap.
Chau, Dionysius
  • #2,397
  • Mar 12, 2007 10:16pm Mar 12, 2007 10:16pm
Quoting fxhermit
Here it is. Enjoy.
Thanks fxhermit, I had a different one, this one looks better.
  • #2,398
  • Mar 12, 2007 10:22pm Mar 12, 2007 10:22pm
Quoting turk87
Where did you get the indicator that tells you how much time is left on the bar? thnx.
Turk87,
That is a good question (about the indicator). I was thinking of the same thing!!
Surprising! How Great Minds think alike!!!! .
-Chandra
  • #2,399
  • Mar 12, 2007 10:27pm Mar 12, 2007 10:27pm
Quoting fxhermit
It is early, still a couple of hours to go till bar close but if it closes red we would do well to be paying attention as MACD will also be red with what could be a RT.
Fxhermit.

My bar is not closing until 214 minutes and 35 seconds (thanks to the info in your indicator). So I'll wait for it to close, and then a little more. Check the 1 hour and if everything is OK....jump in!
  • #2,400
  • Mar 12, 2007 10:27pm Mar 12, 2007 10:27pm
Thans for all who suggested several sources for Candlestick course.
-Chandra.
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