For now, I only trade(T.C.) live with a micro account and demo account counter trends trade. Guess which account has grown?
Thanks again for your help and continued education,
Jim
Indicators show the past. Price Action "Indicates" the future.
4 hour strategy (the nausbot - 4 hour trader) 11 replies
4 Hour Strategy Macd+other Indicator 21 replies
X-1102 1 hour , 4 hour and daily Tf trades 7 replies
Create a verticle line at certain hour for every certain hour 16 replies
Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies
DislikedI did not monitor aud last night and saw that it made another high, along with euro. What is chasing them? Anyway, hope you did not short it around 0.7920 because the strong trend continued and price pushed thru the resistance levels easily. I just imagine how many positions of impatient traders burned over this night. Now what? I am still in game. The price is trying to push thru the high made on January 2nd this year and all the rules are in place. If you have ability to convert your chart to 8HR, then you could see it. Good luck.Ignored
DislikedThis looks good. GBP is trending down, 365, 200 and 89 sloping down. 8 & 21 are flating or maybe turning down. I am now waiting for the MACD to confirm this with a Aggressive Reversal. To me, it is following the trend. If confirmed signal, I will see how price acts around the 9400 level. We'll see.
JimIgnored
DislikedHardhead,
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!Ignored
DislikedLooks like GBPUSD might have finally gotten a kick in the pants and will finally start moving again! Has been a painful week watching that pair.....Ignored
DislikedClosed out my last lot at 1.3312. What a ride. 127 pips.
Have a good weekend everyone. Drink plenty of Green Beer on me.
JimIgnored
DislikedYou can say that again. I think we are going to see nice signals next week. We came through a bad patch. If you manage to be break even or even a little in the green this week you did well. The 5min strategy kept me going. 75pips for the week.Ignored
DislikedGreat Job! I managed a few pips this week too. Now it is time to rest up for the week ahead! I agree w/next week seeing nice signals! Have a fantastic weekend!!!!!!Ignored
DislikedYou can say that again. I think we are going to see nice signals next week. We came through a bad patch. If you manage to be break even or even a little in the green this week you did well. The 5min strategy kept me going. 75pips for the week.Ignored
DislikedDean, 90 % of the time when a major trend line is broken, the price will come back to test the back (Exa.1). This is the time to get in on a good signal after the test and is where I get in. The reason being is that I have seen them broken and pop back inside the trend line which is an nasty end to what was once thought a no-brainer trade. I have been taken like that back when I first started. So, In my view a signal from Phils stategy coupled with a re-tested trend line is my idea of Gold. Then again you get the dreaded ( Blew By You) which doesn't stop, doesn't test, and in this case I miss this trade (Exa2). I accept this since I am looking for the best possible trades, thus I miss a couple and I accept this and thats the way it is.
JimIgnored
DislikedPhillip or anyone,
This is something im sure You may have noticed already but il post it all the same.
While i have been back testing and in real trading of this MACD method I have noticed that more often than not when a 4H trend line is broken price will retrace back to the trend line giving a very nice signal before taking off, usually also bouncing off of the 21 ema. I have traded 2 of these signals and found a great entry off of the 1H charts. What do you think of these entries?
Thanks
DDIgnored
DislikedGood question. I don't have a specific way of telling how long to wait. That's why I said that it will probably burn me soon. Much like entering a trade to early, anticipating the signal, is not a smart thing to do.
If I get a signal. My favorite (obviously) is the Trend Continuation signal. I look to see where the 8 ema, 21 ema, trend line, S/R levels, etc. are in relation to that signal. If price immediately drops (in a long trade) I'll wait to see if it will bounce off those MAs, trendlines, etc. The problem is that price may just take off and there I am waiting, as pips pass me by. So, waiting to long I may miss a trade that would have been a no brainer.
JimIgnored