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4 Hour Strategy (MACD)

  • #2,661
  • Mar 15, 2007 3:53pm Mar 15, 2007 3:53pm
Hi Tam, just wondering if you would consider this one of your nesting dolls? Not sure the correct name, inside nesting doll or UND? Also, sorry to post this question on here...I don't know how to send charts via PM's.
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  • #2,662
  • Mar 15, 2007 4:06pm Mar 15, 2007 4:06pm
Quoting Phillip Nel
Do this little test and tell me what you think. Get up from behind your screen and watch the chart on your screen by standing a distance away and see how the whole picture comes to you. One tend to get to focused on the spot where the action is that you forget the rest of the graph.
Thank you Phillip, it always helps me to have a different perspective of what going on , im trying to look at it like a road map of where its prices been and where i think it will go.
  • #2,663
  • Mar 15, 2007 4:26pm Mar 15, 2007 4:26pm
DigitalD:

Yes, within a few pips of the 21 would essentially be the same thing. Probably better to avoid any confusion with another ma setting. That would be a great help if you could come up with that.

Just an observation on the EUR$ and some bearish divergence with the price highs and lower MACD tops...
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  • #2,664
  • Mar 15, 2007 4:43pm Mar 15, 2007 4:43pm
Hi,

GMT 21:27. March 15th.
EURUSD - 4Hr. Charet.

4Hr EURUSD just gave a RT signal. Also a lower High (or, is it dbl top?) Price is sitting on long-term Down TL.
How about wait for conclusive bounce off down the TL and go below 8 MA (because, 8 MA is too close and sell now)and sell at 3222 with a TP at 21 MA at 3206 (16 pips gain) and SL at 3243 (Just 5 pips above the long TL - 21 pips loss). R:R ratio = Not great.
Anybody can improve the R:R?
-Chandra
  • #2,665
  • Mar 15, 2007 5:06pm Mar 15, 2007 5:06pm
Hi Chandra,

Dont forget Phillips 1 hour when the market is not giving you what you want on the 4 hour.I have put up a chart showing many pips using the 1 hour system,3 good trades marked on the MACD witha red line.

Cheers
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  • #2,666
  • Mar 15, 2007 5:19pm Mar 15, 2007 5:19pm
I was just noticing that too.

At this current state, we could have taken 10+ pips off the eur/usd in a TC fashion before going short when MACD confirms.

Edit: I"m looking at eur/jpy to see if it would show a TC, before it's shortable (is that a word? ) I don't think it will, but who knows... getting myself trained to do it.
DireXiv Make it happen, no one else is going to do it for you...
  • #2,667
  • Mar 15, 2007 5:20pm Mar 15, 2007 5:20pm
Quoting Tw0eleven
Hi Tam, just wondering if you would consider this one of your nesting dolls? Not sure the correct name, inside nesting doll or UND? Also, sorry to post this question on here...I don't know how to send charts via PM's.
No, I do not consider this setup as a nesting pattern because the last doji is on a par level with the previous top. I like to see a reversal from the inside. Instead, what looks good on your chart is a nice rising wedge pattern - this is more important to me. Yours, T.
  • #2,668
  • Mar 15, 2007 5:32pm Mar 15, 2007 5:32pm
Quoting hard1head1
Hey Tamara,

Do you see anything familiar here.? Am I on the right track?

Jim
No, I re-entered long based on this observation.
  • #2,669
  • Mar 15, 2007 5:46pm Mar 15, 2007 5:46pm
Quoting Phillip Nel
Do this little test and tell me what you think. Get up from behind your screen and watch the chart on your screen by standing a distance away and see how the whole picture comes to you. One tend to get to focused on the spot where the action is that you forget the rest of the graph.
Excellent observation! I have been doing that very technique for years trading futures and it very definately breaks the "tunnel vision" sindrom of monitor stare. I strongly urge this practice if you find yourself trying to "find" a trade because of opportunity boredom. If you are looking for a trade you will find one; the WRONG one. Has saved me many hard earned pips. Hope this helps.

Dan
  • #2,670
  • Mar 15, 2007 5:48pm Mar 15, 2007 5:48pm
oztrader:

Excellent! That is a prime example of trading with the trend. Wait for the dips and re-enter!!!
  • #2,671
  • Mar 15, 2007 6:37pm Mar 15, 2007 6:37pm
There must have just been some news about the EUR. Euro pairs are going to the moon!
Anyone know?
  • #2,672
  • Mar 15, 2007 6:44pm Mar 15, 2007 6:44pm
I just got completely blown out of the water....

Is there anyone here, just trading Trend continuations? I'm about to that point.... If so, PM me or reply to this post and let's discuss.

There wasn't a stop/loss possible (in normal thinking) to save anyone trying to trade on eur/usd on the counter.....
DireXiv Make it happen, no one else is going to do it for you...
  • #2,673
  • Mar 15, 2007 6:52pm Mar 15, 2007 6:52pm
Quoting DireXiv
I just got completely blown out of the water....

Is there anyone here, just trading Trend continuations? I'm about to that point.... If so, PM me or reply to this post and let's discuss.

There wasn't a stop/loss possible (in normal thinking) to save anyone trying to trade on eur/usd on the counter.....
23:49 GMT.
EURUSD 4Hr.
I see a ripple of TC signals in harmony with the current up trend along with a couple of RTs against the current up trend. And 1hr chart did not give any intelligent information either.
-Chandra
  • #2,674
  • Mar 15, 2007 6:56pm Mar 15, 2007 6:56pm
Heard earlier about exotic option barriers expirinng and defense levels not being protected as heavily. Also, lots of stops above 1.3260.... still waiting for a true short signal. talk about risky (also, if anyone follows cot for countertrading, it is showing EUR strength w/extreme ratio of shorts to longs).

Still planning to take the short signal when it comes....
  • #2,675
  • Mar 15, 2007 7:13pm Mar 15, 2007 7:13pm
Guess Asia didn't like our news earlier today....looks like the dollar has been sold across the board. See USDX chart
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  • #2,676
  • Mar 15, 2007 7:20pm Mar 15, 2007 7:20pm
Quoting tamkras
No, I do not consider this setup as a nesting pattern because the last doji is on a par level with the previous top. I like to see a reversal from the inside. Instead, what looks good on your chart is a nice rising wedge pattern - this is more important to me. Yours, T.

Thanks Tam, I was a little too focused on the ND and disregarded the ascending triangle...which happened to be the correct reading. Hope you made some pips on that move.
  • #2,677
  • Mar 15, 2007 7:48pm Mar 15, 2007 7:48pm
Quoting Phillip Nel
Do this little test and tell me what you think. Get up from behind your screen and watch the chart on your screen by standing a distance away and see how the whole picture comes to you. One tend to get to focused on the spot where the action is that you forget the rest of the graph.

Thank you again Phillip for your wonderful analysis.
I have a dedicated flash drive with all your insight, postings and mp3s. I take it to work with me and I listen during breaks and when no one is around.
  • #2,678
  • Mar 15, 2007 8:27pm Mar 15, 2007 8:27pm
Tw, I am looking at aud/usd pair again as it is approaching the previous inside top. The resistance can be met somewhere at this level. I enclose the chart. For better understanding of this setup I marked 2 areas: A - inside top and B - potential battlefield.

Apart from in the inside pattern, there is also a lower channel boundary which can contribute to the resistance. The signal for a shorting opportinuty must be a topping scenario - 1). MACD short signal or 2). 4HR reversal candle, 1HR candle can be played, too, in this case MACD 1HR short signal needs to back up your entry.

Do not rush your trades, wait for a confluence of shorting patterns.

Yours, T.
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  • #2,679
  • Mar 15, 2007 8:37pm Mar 15, 2007 8:37pm
Quoting tamkras
Tw, I am looking at aud/usd pair again as it is approaching the previous inside top. The resistance can be met somewhere at this level. I enclose the chart. For better understanding of this setup I marked 2 areas: A - inside top and B - potential battlefield.

Apart from in the inside pattern, there is also a lower channel boundary which can contribute to the resistance. The signal for a shorting opportinuty must be a topping scenario - 1). MACD short signal or 2). 4HR reversal candle, 1HR candle can be played, too, in this case MACD 1HR short signal needs to back up your entry.

Do not rush your trades, wait for a confluence of shorting patterns.

Yours, T.
That's fantastic Tamara. I appreciate your help in seeing the inside top pattern(assuming it forms all the way). If I remember correctly, you also like to see some consolidation near the top too?
  • #2,680
  • Mar 15, 2007 8:42pm Mar 15, 2007 8:42pm
Quoting tamkras
Tw, I am looking at aud/usd pair again as it is approaching the previous inside top. The resistance can be met somewhere at this level. I enclose the chart. For better understanding of this setup I marked 2 areas: A - inside top and B - potential battlefield.

Apart from in the inside pattern, there is also a lower channel boundary which can contribute to the resistance. The signal for a shorting opportinuty must be a topping scenario - 1). MACD short signal or 2). 4HR reversal candle, 1HR candle can be played, too, in this case MACD 1HR short signal needs to back up your entry.

Do not rush your trades, wait for a confluence of shorting patterns.

Yours, T.
Thanks to your previous lessons, I have been stalking this trade as well! Glad to see I got it right....for now at least
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