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4 Hour Strategy (MACD)

  • #18,361
  • Jan 7, 2009 9:45am Jan 7, 2009 9:45am
Hello guys,

I see the price now is in consolidation period. You know what I mean if you draw all the trend lines from daily to 4h chart. Maybe there will be a big movement ahead? It just matter of time...Lets see what will happen soon...

p/s-The Second (Slow) EMA in my h1 MACD window has crossed above zero MACD line. That tells me something, somehow.
  • #18,362
  • Jan 7, 2009 9:53am Jan 7, 2009 9:53am
Sold the EU at the close of the 1hr coming off the 21 on the 4hr. Took 20 on the first, 50 on the second and holding one at b/e....
Attached Image
  • #18,363
  • Jan 7, 2009 10:04am Jan 7, 2009 10:04am
Quoting Palmer
Sold the EU at the close of the 1hr coming off the 21 on the 4hr. Took 20 on the first, 50 on the second and holding one at b/e....
looks good , H4 is going to give a TC ,
Attached Image (click to enlarge)
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  • #18,364
  • Jan 7, 2009 10:04am Jan 7, 2009 10:04am
Last lot stopped out at b/e. Will continue to watch the 4hr for possible short re-entry...
  • #18,365
  • Jan 7, 2009 10:06am Jan 7, 2009 10:06am
Quoting bshadroo
looks good , H4 is going to give a TC ,

Hey bsh...

Yeah, this was a quick 1hr entry, it's coming back up now on the 4hr too but if price closes above the 21 here that'll change things for me...
  • #18,366
  • Jan 7, 2009 10:48am Jan 7, 2009 10:48am
Guys,

As in h4 chart at this moment, the MACD has touched the ZERO line. The price also somewhere above 21 and testing the trend line. It still looks like resisted to me. It still has to be confirmed after the candle close though.

Anyway, below here is my h1 chart. Base on the the h4 rules, I only favor SHORT entry (unless the price emotion give something else later on). My Slow EMA (redline) in MACD window is heading up.

Might skip this trade @ the moment.

Have a nice trade guys...!!!
Attached Image (click to enlarge)
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  • #18,367
  • Jan 7, 2009 11:09am Jan 7, 2009 11:09am
Nice bearish engulfing candle on the EURGBP. In a trending market, this is a high probability trade. Took 1/2 profit +50, and I'm letting the rest run.
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  • #18,368
  • Edited 12:34pm Jan 7, 2009 12:03pm | Edited 12:34pm
gbp/usd trade

Counter trend trade back to the 8 and 21ema
Macd aggressive turnaround signal at the close of candle

Edit:
Closed 1/3 for +21 pips
Edit:
Closed 1/3 for +36 pips
Remaining lot moved to BE

Edit:
last lot stopped out at break even

Analysis:
this was a counter trend trade back to the 8 and the 21 so looking for just quick pips and very tight stop loss and watching it live.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 1h trade.gif Size: 47 KB
Keeping Life Simple
  • #18,369
  • Jan 7, 2009 12:18pm Jan 7, 2009 12:18pm
eur/usd seems to might want to close inside of the 21ema after piercing it a little and making 2 tails. With 4H candle close and MACD TC, will look to go short.
Keeping Life Simple
  • #18,370
  • Jan 7, 2009 1:56pm Jan 7, 2009 1:56pm
Pips for everyone! Nice reads today...
  • #18,371
  • Jan 7, 2009 2:07pm Jan 7, 2009 2:07pm
Quoting time1300
eur/usd seems to might want to close inside of the 21ema after piercing it a little and making 2 tails. With 4H candle close and MACD TC, will look to go short.
im in ur side
  • #18,372
  • Jan 7, 2009 2:10pm Jan 7, 2009 2:10pm
EU might retest the 365 at the 3500 level....
Attached Image
  • #18,373
  • Edited 11:18pm Jan 7, 2009 2:52pm | Edited 11:18pm
hello palmer,

quick question, your sell order on your chart, did you enter on 1H because last time you had been stopped out on your BE order and did you re-enter? Also I don't see your stop loss or I am just not seeing it?

I also made an entry:

Entry made on 4H without MACD signal given. I entered without the signal due to the 2 tails on the last two candles off of a trend line (see chart) and off of the 21ema. Also the two tails were bounced off of the 38.2 Weekly Fibonacci Line. My first target is at the Daily Pivot Point which also sits by the 365ema. The second target is the Daily S1 Point which also sits by the 200sma.

Edit:
closed 1/2 @ +25
stop loss moved to BE -25 pips with 45 trailing stop

Edit:
Got stopped out on my other half

Analysis:
Ended up at BE for entire trade - the trade was taken during low market activity
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4h trade.gif Size: 42 KB
Keeping Life Simple
  • #18,374
  • Jan 7, 2009 5:23pm Jan 7, 2009 5:23pm
Quoting time1300
hello palmer,

quick question, your sell order on your chart, did you enter on 1H because last time you had been stopped out on your BE order and did you re-enter?...
time:

That's pretty much it right there. After I got stopped out on the last lot, the 1hr gave another short signal ( at least that's what I was seeing at the time ) and re-entered. The stop is there but it wasn't at the time I made a pic of the chart....Price is just zzzzing right now but it's that's odd time of day so we'll see what happens...
  • #18,375
  • Edited 11:32pm Jan 7, 2009 8:32pm | Edited 11:32pm
Quoting orangeRANGE
Guys,

As in h4 chart at this moment, the MACD has touched the ZERO line. The price also somewhere above 21 and testing the trend line. It still looks like resisted to me. It still has to be confirmed after the candle close though.

Anyway, below here is my h1 chart. Base on the the h4 rules, I only favor SHORT entry (unless the price emotion give something else later on). My Slow EMA (redline) in MACD window is heading up.

Might skip this trade @ the moment.

Have a nice trade guys...!!!
Hello guys,

I just make summary from my previous post.

As in my h1 MACD window, I did not take SHORT entry signal (see point marked "X") because the trend lines is tightening and the price ding dong in that area.

I did mentioned about this consolidation period last night (post #18361), and yes, I will just wait for the next big move only. As for my h1 entry method, even though the First EMA (green line) crossed below the Second EMA (red line) in MACD window, I supposed to take SHORT entry there which I didn't. Reason is simple. LOOK AT THOSE TREND LINES compressing the price. I love to see it POPS UP/DOWN soon.

Have a look and make your own thought.
Attached Image (click to enlarge)
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  • #18,376
  • Jan 7, 2009 9:30pm Jan 7, 2009 9:30pm
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Success is the small sum of efforts, repeated day in and day out.
  • #18,377
  • Jan 7, 2009 11:37pm Jan 7, 2009 11:37pm
Quoting dhalsim
Hello dhalsim,

Where is your 365EMA line anyway? I treat that line(365EMA) as my trend line @ h1 chart (my chart told me to do so) and it support the price since last night.

My answer to you is, wait for the big move ahead using h1 entry. You will see what I mean.
  • #18,378
  • Jan 8, 2009 1:54am Jan 8, 2009 1:54am
Quoting dhalsim
yes ,im in
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  • #18,379
  • Jan 8, 2009 5:15am Jan 8, 2009 5:15am
Has anyone taking this on? I'm not really sure as the 1H has formed a dragonfly doji which supports the support line at 1.3548. Together with this i'm feeling the rhythm on the 4H is a little choppy and unsure.

Think i'm going to give this one a miss. Anyone to add anything?

See 4H & 1H charts below:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur4h(08-01-09).gif Size: 20 KB
Click to Enlarge Name: eur1h(08-01-09).gif Size: 20 KB
  • #18,380
  • Jan 8, 2009 7:16am Jan 8, 2009 7:16am
I took this one

to orangeRANGE:

Thank you for the post!

Dhalsim
Success is the small sum of efforts, repeated day in and day out.
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