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4 Hour Strategy (MACD)

  • #2,461
  • Mar 13, 2007 2:44pm Mar 13, 2007 2:44pm
Quoting alcastro
Went short with US/CAD @ 1.1687
MACD showing TC.
Crossed 89 MA to the south.
Double top at 1.8117 (sort of)

TP just above a TL at 1.1623

I broke one of my cardinal rules: wait until the line is completely painted in MACD. But...I have to leave for work.
I know I should not have done this and the pips god will certainly punish me.

As predicted: the pips gods have punished me.
  • #2,462
  • Mar 13, 2007 2:51pm Mar 13, 2007 2:51pm
HeyTamara,
I Think I see it, but I still don't understand it.

J
  • #2,463
  • Edited 2:55pm Mar 13, 2007 2:54pm | Edited 2:55pm
Quoting alcastro
As predicted: the pips gods have punished me.
NO!

Pip god's just wanted to remind you not to break your rules....and loonie is yucky currency to trade (my opinion) b/c it is commodity based....and it does the fakey shakey....
  • #2,464
  • Mar 13, 2007 2:58pm Mar 13, 2007 2:58pm
Quoting hard1head1
HeyTamara,
I Think I see it, but I still don't understand it.

J
explain? Post a chart? This trade is a beauty, though, and I can see it, too.
  • #2,465
  • Mar 13, 2007 2:58pm Mar 13, 2007 2:58pm
Quoting tamkras
I am not in yet as I do not like the way the price is balancing on a tight rope of the 1.3200 level - out of the 3100th and then back. I have good pips already from the posted aud/usd trade this morning and I am done for today (we are winning again). Yours, T.
YIPPPPEEE!! OINK OINK!!!!!!

Saw your lovely set up on both the daily and 4 hourly (or was it hourly? My goodness I'm going senile before 40! AGGGGH!)...sweet pips o'yours!!!

p.s. my lovely swissie trade hung up b/c of an UND that I thought had been pierced, but candle no close below and price bounced...glad I was aware of the set up, has come in very handy!!!!!!!
  • #2,466
  • Mar 13, 2007 3:04pm Mar 13, 2007 3:04pm
Quoting pips4uandme
YIPPPPEEE!! OINK OINK!!!!!!

Saw your lovely set up on both the daily and 4 hourly (or was it hourly? My goodness I'm going senile before 40! AGGGGH!)...sweet pips o'yours!!!

p.s. my lovely swissie trade hung up b/c of an UND that I thought had been pierced, but candle no close below and price bounced...glad I was aware of the set up, has come in very handy!!!!!!!
95% success rate of all the posted trades on this forum tells me to take another vacation, at least, for a week. What a breather, these hills riding!
  • #2,467
  • Edited 3:24pm Mar 13, 2007 3:06pm | Edited 3:24pm
Faced major resistance at 1.32 and after clearing multiple times has been rejected each time since early march. MIG was within 1 pip of showing before candle close, My broker shows sell signal on macd for countertrend, tweezer candles on MIG (kind of) and for sure on my chart

Edit: my market rhythm, and upper tl's are converging around this point also.

Edit 2: (I should have addressed this) I have taken trades on my candle close (1 hour later than mig) if the mig was showing trade at that time quite a few times and been succesfull at getting in a bit early... or a bit later depending.

Entry: 1.3190
S/L: 1.3211 above previous high last week or so, middle of tweezer tails, but think upward momentum is gone.
TP #1: 1.3182 at 8 ema for 8 pips (more including the spread probably 11)
TP #2: 1.3165 just above the 21 ema and the 89

Anything I'm not seeing?
Attached Image
DireXiv Make it happen, no one else is going to do it for you...
  • #2,468
  • Mar 13, 2007 3:11pm Mar 13, 2007 3:11pm
can You post a picture of your charts?
Mines not showing a round top yet, I would wait untill this bar closes untill I enter short.
  • #2,469
  • Mar 13, 2007 3:32pm Mar 13, 2007 3:32pm
Got something to do with these 2 tops.

J
Attached Image
  • #2,470
  • Mar 13, 2007 3:33pm Mar 13, 2007 3:33pm
Was a wonderful trade, how far you gonna take it down, since there is an evening star on the 4 hr
  • #2,471
  • Mar 13, 2007 3:37pm Mar 13, 2007 3:37pm
Quoting hard1head1
Was a wonderful trade, how far you gonna take it down, since there is an evening star on the 4 hr
Closed 1 lot right now @0.7808. I like to dance with the price. Those who took the trade with me are handsomely rewarded for their courage.
  • #2,472
  • Mar 13, 2007 3:39pm Mar 13, 2007 3:39pm
Quoting hard1head1
Got something to do with these 2 tops.

J
o.k. I will explain in details my way of thinking either tonight or tomorrow. You are very close, Jim.
  • #2,473
  • Edited 4:08pm Mar 13, 2007 3:44pm | Edited 4:08pm
Quoting tamkras
I opened a short position with aud/usd @0.7855. SL plus 50 pips plus slippage. Why? This pair intrigues me, really..
I think this pair is going to become even more intriguing. All the MAs are converging. I think its time for a big move.

Maybe Phillip can explain what happens when this event occurs. Any one?

Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #2,474
  • Mar 13, 2007 3:45pm Mar 13, 2007 3:45pm
Always nice to have other options!

Jim
  • #2,475
  • Mar 13, 2007 4:03pm Mar 13, 2007 4:03pm
Quoting HipsterPipster
Go to http://www.forexfactory.com/forumdisplay.php?f=71
Find the 4-Hour Strategy (300 pips) and look by the rating, (yellow stars), Click on the paperclip for a list of all the info here.
Chau,
Dionysius

Thanks HipsterPipster
Trade Well
  • #2,476
  • Mar 13, 2007 4:25pm Mar 13, 2007 4:25pm
Hey, anyone here from Australia and New Zealand? What's going on with your currencies? My aussie trade is already in textbooks and I am pleading for some explanations. Yours, T.
  • #2,477
  • Mar 13, 2007 4:26pm Mar 13, 2007 4:26pm
Quoting jarroo
My bad. Triple top. Duhh. Thought maybe it would act like the sisters and hit three times and fall. In the past I would have just taken the short and hope it would fall. But now, I'm looking for a Phillip signal which has not yet materialized. Strong trend (89 sma). 61.8 fib (thanks pilgrim). Also looking for a T.C. off the 21 ema.

Another great daily wrap up Phillip.

Jim
Jarro,

I ended up pulling the trigger on the open of the 12:00GMT candle, the prior candle was lower. Within 30 minutes of getting in the 12:00 GMT candle turned into a trend continuation candle. That is one of the realities of trading this system in real time, what looks like a round top can turn into a trend continuation. I liked alot of things about this trade (MACD bearish divergence, fib level, triple top) but I should have waited longer for the trend to soften up and the MACD to give a better signal. Your patience paid off.

Now within 1 pip of my stop

Pilgrim

EUR/GBP
Entry: .6828
Stop: .6849
T/L : .6890
  • #2,478
  • Mar 13, 2007 5:03pm Mar 13, 2007 5:03pm
Quoting DireXiv
Entry: 1.3190
S/L: 1.3211 above previous high last week or so, middle of tweezer tails, but think upward momentum is gone.
TP #1: 1.3182 at 8 ema for 8 pips (more including the spread probably 11)
TP #2: 1.3165 just above the 21 ema and the 89

Anything I'm not seeing?

I was thinking there is a double top formed/forming on the 4 HR chart MACD and that it had tested 1.3200 several times and failed, so that information might be a sign to enter short at this time. That is a newbie perspective and hope that you are correct as I entered at 1.3194.
  • #2,479
  • Edited 5:25pm Mar 13, 2007 5:12pm | Edited 5:25pm
I'll have to be more careful of what I post...

Be very careful with this trade.. the 1 hour is turning for TC. I may pull this before my stop if I see this happening. It is definitely testing the 1.32 again. If 1 hour close to show TC.. I'm out and may reverse on conditions. The $ got hammered today, and was thinking with the signals and signs as posted before there woud be releif.

Edit: If we see enough horizontal movement that it gets even closer to the 8 ema, I will also pull the trade. That may be the relief


Quoting mdietrich
I was thinking there is a double top formed/forming on the 4 HR chart MACD and that it had tested 1.3200 several times and failed, so that information might be a sign to enter short at this time. That is a newbie perspective and hope that you are correct as I entered at 1.3194.
DireXiv Make it happen, no one else is going to do it for you...
  • #2,480
  • Mar 13, 2007 5:28pm Mar 13, 2007 5:28pm
Quoting DireXiv
I'll have to be more careful of what I post...

Be very careful with this trade.. the 1 hour is turning for TC. I may pull this before my stop if I see this happening. It is definitely testing the 1.32 again. If 1 hour close to show TC.. I'm out and may reverse on conditions. The $ got hammered today, and was thinking with the signals and signs as posted before there woud be releif.
Well I was going to jump in anyway, so don't feel like you led me astray. I have a more conservative stop in at 1.3205, just above the wick of the current 4HR candle.
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