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4 Hour Strategy (MACD)

  • #2,681
  • Mar 15, 2007 8:42pm Mar 15, 2007 8:42pm
Quoting Tw0eleven
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?
for safer entry - yes. However, consolidation may not always happen and the price can be thrown back aggressively from this level - if it happens now, skip it and wait for a pullback up where you can short it. Another scenario: this 4HR candle can turn out to be a pin bar - also a good sign.
  • #2,682
  • Mar 15, 2007 8:47pm Mar 15, 2007 8:47pm
Hope noone got caught by the crazy eurusd move. Looking at the hourly, we could have seen this upmove as high probability (always easier to see after the fact). There was very strong hidden divergence on the 1 hour chart, indicating the upmove would continue. The thick green trendlines on the MACD and Chart illustrate the Hidden Bullish Divergence pattern.

p.s. I didn't notice it earlier...and am very lucky not to have been caught on the wrong side of the market when I scalped a few pips this morning.
Attached Image
  • #2,683
  • Mar 15, 2007 8:49pm Mar 15, 2007 8:49pm
Quoting tamkras
for safer entry - yes. However, consolidation may not always happen and the price can be thrown back aggressively from this level - if it happens now, skip it and wait for a pullback up where you can short it. Another scenario: this 4HR candle can turn out to be a pin bar - also a good sign.
Sounds good. Thanks for the advice. Now it's time to practice patience! Let the trade come to me! hehe
  • #2,684
  • Edited 8:58pm Mar 15, 2007 8:56pm | Edited 8:58pm
Quoting pips4uandme
Thanks to your previous lessons, I have been stalking this trade as well! Glad to see I got it right....for now at least
great! the price is pulled into these areas as if by a magnet. You just relax and wait for the right moment to come like a hunter.
  • #2,685
  • Mar 15, 2007 9:19pm Mar 15, 2007 9:19pm
Got to love following that Trend (89 sma) YEEEE HAAAA.

In at 1.3185 at about where the trend line and the 21 ema crossed paths, which was at the T. C. signal!!!!!!!!!!!
Played 3 lots (micro) took two lots off at the upper trend line at 1.3238. Letting the last one ride.

Go Baby Go!!!!

Man, I'm liking this strategy more and more.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #2,686
  • Mar 15, 2007 9:54pm Mar 15, 2007 9:54pm
Quoting jarroo
Got to love following that Trend (89 sma) YEEEE HAAAA.

In at 1.3185 at about where the trend line and the 21 ema crossed paths, which was at the T. C. signal!!!!!!!!!!!
Played 3 lots (micro) took two lots off at the upper trend line at 1.3238. Letting the last one ride.

Go Baby Go!!!!

Man, I'm liking this strategy more and more.

Jim
Super Job!!!!
  • #2,687
  • Mar 15, 2007 10:22pm Mar 15, 2007 10:22pm
Quoting jarroo
Got to love following that Trend (89 sma) YEEEE HAAAA.

In at 1.3185 at about where the trend line and the 21 ema crossed paths, which was at the T. C. signal!!!!!!!!!!!
Played 3 lots (micro) took two lots off at the upper trend line at 1.3238. Letting the last one ride.

Go Baby Go!!!!

Man, I'm liking this strategy more and more.

Jim
WOW Jim, you are riding this trend almost from its beginning!! Great job.
(did you make your 20 pips?)
  • #2,688
  • Mar 15, 2007 10:57pm Mar 15, 2007 10:57pm
Quoting Digitaldean
I hired a coder to whip up an alert for the macd to help Phillip and everyone when they are sleeping.

It has option for email alerts too.

I have not been able to test it properly yet but let me know if you find any problems. It gives the alert on the close of the bar if it has gone from + green to a red - bar or from red to green.

enjoy

DD
Thanks for the indicator, I am having some trouble with it with MIG trading, or META. Any suggestions?
  • #2,689
  • Mar 15, 2007 11:33pm Mar 15, 2007 11:33pm
Quoting alcastro
WOW Jim, you are riding this trend almost from its beginning!! Great job.
(did you make your 20 pips?)
Oh yeah. Got my 20 pips. lol .
This is how I played it.

First of all, I very rarely take a countertrend trade unless its a clear signal on MACD, the 8 ema and 21 ema is flat lining or turning down (in the case of a short countertrend). The 89 sma is flat lining, or turning. S/R level make sense, etc.

In this case the all MAs trending up. And price was dancing on top of the trend line. No way was I looking to short. Now the Euro could have easily gone the other way and I would have be out with a loss, but to me that old saying of "stay with the trend" gives a higher probability of success.

One thing I do (which may burn me soon) is that once a signal is given, I don't pull the trigger right away. I see if price falls a little (long trade). In this case it did fall a little right down in between the 8 ema and 21 ema and then it went up.

Man, this is fun.

Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #2,690
  • Edited 3:08am Mar 16, 2007 12:52am | Edited 3:08am
I find that I am not able (nor wanting) to glue my eyeballs to the screen twenty four hours at a time all week long. I do however, often want to know when price reaches a certain level and have an alert at that point. Thanks to Accrete for writing the code for the attached indicators. I find them very handy and thought others might too.

I have posted the rising price alert in this post and will follow with the falling price alert. The indicator is saved in your indicators folder as usual. The zip file is a .wav file and must be extracted and saved in your sounds folder. This is a trendline with an alert built in. Just click and drag it to wherever you please.
Attached File(s)
File Type: mq4 ATM_TLineAudioRisingAlert_email[1].mq4   2 KB | 857 downloads
File Type: zip rising-price-alert.zip   41 KB | 840 downloads
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #2,691
  • Mar 16, 2007 12:53am Mar 16, 2007 12:53am
Quoting Digitaldean
I hired a coder to whip up an alert for the macd to help Phillip and everyone when they are sleeping.

It has option for email alerts too.

I have not been able to test it properly yet but let me know if you find any problems. It gives the alert on the close of the bar if it has gone from + green to a red - bar or from red to green.

enjoy

DD
Hi,
Thanks for the alert indicator. Does it give alert in chage of color of price bar? Can we apply it to MACD Histogram?
Thanks again.
-Chandra
  • #2,692
  • Mar 16, 2007 12:59am Mar 16, 2007 12:59am
Quoting fxhermit
I find that I am not able (nor wanting) to glue my eyeballs to the screen twenty four hours at a time all week long. I do however, often want to know when price reaches a certain level and have an alert at that point. Thanks to Accrete for writing the code for the attached indicators. I find them very handy and thought others might too.

I have posted the rising price alert in this post and will follow with the falling price alert. The indicator is saved in your indicators folder as usual. The zip file is a .wav file and must be extracted and saved in your sounds folder.
Here are the files for the falling price alert. Install in the same manner. You can click and drag the trendline and place it where ever you wish and at what ever angle that you wish. I believe it is set so that when price comes to within 2 pips the alert will sound.
Attached File(s)
File Type: mq4 ATM_TLineAudioFallingAlert_email[1].mq4   2 KB | 793 downloads
File Type: zip falling-price-alert.zip   39 KB | 834 downloads
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #2,693
  • Mar 16, 2007 1:11am Mar 16, 2007 1:11am
As one of the new guys on the block I don't want to come in and change things or rock the boat. But I have an idea to throw out there for input. We all know that after 8am PDT or 11 am EDT on Friday the market gets slow. Could we then turn the forum into a "Free flowing of ideas and other topics related to forex"? I like that everyone is very focused on what is happening right now in the market and how to help others with their trades. But can we talk on Friday's about other topics? Usually I am burned out by then but would love to hear from you.


Well They say that there’s a pie up in the sky; Waiting for me when I die; But between the day you’re born and when you die; they never seem to hear you when you cry; So as sure as the sun will shine; I’m going to get my share of what is mine….. Jimmy Cliff

  • #2,694
  • Mar 16, 2007 2:40am Mar 16, 2007 2:40am
Quoting Chandra
Hi,
Thanks for the alert indicator. Does it give alert in chage of color of price bar? Can we apply it to MACD Histogram?
Thanks again.
-Chandra
Hi,

It is already for the MACD not price, it alerts you when macd changes from green to red or visa versa.

I am in the prosess of having a better alert made with more options, I will post it when it is done.

It should have a second alert that you can set for when price comes within so many pips of the 21 ema to alert you of a possible trend continue signal.

DD
  • #2,695
  • Mar 16, 2007 5:40am Mar 16, 2007 5:40am
One thing I do (which may burn me soon) is that once a signal is given, I don't pull the trigger right away. I see if price falls a little (long trade). In this case it did fall a little right down in between the 8 ema and 21 ema and then it went up.

Man, this is fun.

Jim[/quote]

Congrtas again!
The trend continues!!! I got home to my trading comp too late to jump in.
Great analysis. You deserve the ride.
  • #2,696
  • Mar 16, 2007 5:55am Mar 16, 2007 5:55am
Any comments on this H/S formation? Any ideas where its going next?

Jim
Attached Image
  • #2,697
  • Mar 16, 2007 6:13am Mar 16, 2007 6:13am
Quoting hard1head1
Any comments on this H/S formation? Any ideas where its going next?

Jim
I marked up for myself 116.25 area, 30 pips more down - just a feeling. I will be waiting there for the reversal.
  • #2,698
  • Mar 16, 2007 6:16am Mar 16, 2007 6:16am
thanks Philip for share your good strategy.I'd like to translate it to Persian with your permission.
  • #2,699
  • Mar 16, 2007 6:20am Mar 16, 2007 6:20am
Quoting jarroo
Got to love following that Trend (89 sma) YEEEE HAAAA.

In at 1.3185 at about where the trend line and the 21 ema crossed paths, which was at the T. C. signal!!!!!!!!!!!
Played 3 lots (micro) took two lots off at the upper trend line at 1.3238. Letting the last one ride.

Go Baby Go!!!!

Man, I'm liking this strategy more and more.

Jim
Wow, Jim, it was your game. I envy you. I remained on the sidelines saving my cash.
  • #2,700
  • Mar 16, 2007 6:27am Mar 16, 2007 6:27am
Hardhead,
the same head&shoulders patter has formed on the usd/chf 4hour graph during the past two weeks. only the whole formation is sloping downwards as oppose to usd/jpy h&s patter which is sloping upwards. as you already know the h&s of eur/usd just broke upwards, not downwards like it was supposed to, so i better hold back on explaining this phenomena with usd/chf and usd/jpy, but looking forward to hear from our experts of the thread.
Have a good weekend everybody!
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