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4 Hour Strategy (MACD)

  • #18,461
  • Jan 15, 2009 4:00am Jan 15, 2009 4:00am
I took a short E/U just before the close of the last hour. This was based on the 4H looking to form a TC off the 8 and the 1H having formed a spike along the fairly flat 21.

The trade has already covered 20 pips and I have moved my stop to B/E.
  • #18,462
  • Jan 15, 2009 4:01am Jan 15, 2009 4:01am
Quoting bshadroo
sold on early H1 entry ,will close first lot for 25 pips and use it for the second lot's SL
watching it in smaller TF closely
stopped out : -20 and -35 = -55
Please see the horizontal line 1.4539, GU has been resistanted by it for a long time. In my opinion, it even has more bull than EU, you can know this from EUR/GBP.

Now the price has approached to the resistant line, it tends to be consolidated during this period. ECB also will release its rate tonight, early entry has more probablility to fail.
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Plan your trades and trade your plans
  • #18,463
  • Jan 15, 2009 4:07am Jan 15, 2009 4:07am
Hello all traders,

I just want to share an observation. I have been following the Usd/Jpy pair and there is not as much volatility and big swings as there are in the GbP and EUR pairs. The stop losses are not as huge and by all means the profits are not as big as well.
Keeping Life Simple
  • #18,464
  • Jan 15, 2009 4:27am Jan 15, 2009 4:27am
Quoting brettboz
I took a short E/U just before the close of the last hour. This was based on the 4H looking to form a TC off the 8 and the 1H having formed a spike along the fairly flat 21.

The trade has already covered 20 pips and I have moved my stop to B/E.
Closed at B/E.
  • #18,465
  • Jan 15, 2009 4:29am Jan 15, 2009 4:29am
Has anyone else noted how FF is getting overloaded all the time lately. As a systems engineer have to say that the architecture is rather odd hosting forums on the same servers as live feeds which receive lots of hits at busy times. It would seem more sensible to have these off on seperate boxes but still very annoying recently.
  • #18,466
  • Jan 15, 2009 5:10am Jan 15, 2009 5:10am
Yes, I got that a lot recently, but only during or around news, though this means +/- 1 hr. around news time, which sucks.
  • #18,467
  • Jan 15, 2009 5:26am Jan 15, 2009 5:26am
Quoting ARtuRO
Heloo Palmer !

I can't find Fibonacci level which looks like yours. Can u help me and send suitable file to add this indicator to MT.
Thank you !
Hello ARtuRO,

Palmer uses has configured his fib levels himself. If you highlight the fib stufy and right click on it you should get a list of options. Pick Fibo properties and in there you can add them in. Tip to get the price to display use this:
.23% retracement example: Level = 0.236 Description: 23.6 %$

Add in all the levels like that - hope that helps.
  • #18,468
  • Jan 15, 2009 5:39am Jan 15, 2009 5:39am
Quoting saka
Please see the horizontal line 1.4539, GU has been resistanted by it for a long time. In my opinion, it even has more bull than EU, you can know this from EUR/GBP.

Now the price has approached to the resistant line, it tends to be consolidated during this period. ECB also will release its rate tonight, early entry has more probablility to fail.
thx my dear friend .i knew it was a high risk trade so i entered with microlots to if it goes down ,a normal profit i take.
  • #18,469
  • Jan 15, 2009 7:12am Jan 15, 2009 7:12am
Quoting giotto
orangeRANGE,

even if there are no comments posting on your analysis, doesn't mean that nobody is reading it. I very appreciate your approach on these analysis. Although I trade BGX (BunnyGirl Cross) with some PA technique, still getting closer and closer to 1&4hrMACD system. Thinking about posting more as FX trading is my full time job

Palmer, I wish you a lot of energy and enthusiasm in continuing of Phill's work.

Happy trading to all.
Hello giotto,

Thanks for your positive reply. PA that you mean is Price Action eh? Well, I am trying to relate price emotion with MACD, SMA, EMA etc etc. I like posting chart and make some explaination about what I see in my chart. I think the more I post, the better I am.

Actually, I do not really care if other members will read/comment on my post or not. As long I can participate in this thread and talking outloud about FX stuff bla bla bla....I am happy

I've been thinking to be a full time trader for sometime now. It just a matter of time....

have a god day trading to all of us....
  • #18,470
  • Jan 15, 2009 7:27am Jan 15, 2009 7:27am
Quoting brettboz
Has anyone else noted how FF is getting overloaded all the time lately. As a systems engineer have to say that the architecture is rather odd hosting forums on the same servers as live feeds which receive lots of hits at busy times. It would seem more sensible to have these off on seperate boxes but still very annoying recently.

This happens a lot during news releases. i think everyone is logged on to get the numbers after they are posted and the servers can only handle so much traffic at once. I've noticed that the # of people online has jumped from about 5000 to around 9000 at once.

Forgot the names here but thanks for posted the MTF MA.

Glad you got the .mq4 figured out.

Glad you got the Fibo indy working for you.

Still short from 3366 and took another short earlier at 3156. Stop is tight on that one (did take 20 out on one, just holding one right now on that entry), not shown here, with the news on the way..
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  • #18,471
  • Jan 15, 2009 7:42am Jan 15, 2009 7:42am
The EU needs to break out of this box on the 1hr. Stuck between the daily pivot and S1...
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  • #18,472
  • Jan 15, 2009 7:51am Jan 15, 2009 7:51am
Wow...guys...

The market move pretty fast eh? Whats holding the price from going down now? Hmmm....

My entry since last night is still floating...duuhhhhhh
  • #18,473
  • Jan 15, 2009 7:57am Jan 15, 2009 7:57am
Normally...this news should strengthen USD...
Comment guys...!!!
  • #18,474
  • Jan 15, 2009 8:04am Jan 15, 2009 8:04am
Not sure why things are ranging either way. Maybe the run down is just taking a breather here for a while. The ECB is meeting today too..I think.

I just got the email that ODL is closing all of its US accounts so I have to apply to another brokerage....great.
  • #18,475
  • Edited 8:40am Jan 15, 2009 8:39am | Edited 8:40am
Quoting Palmer
Not sure why things are ranging either way. Maybe the run down is just taking a breather here for a while. The ECB is meeting today too..I think.

I just got the email that ODL is closing all of its US accounts so I have to apply to another brokerage....great.
Palmer...

Do you remember in 1 of my previous post on which I said price would be supported by trend line from daily chart? It does now....

So...which broker now then?
  • #18,476
  • Jan 15, 2009 9:06am Jan 15, 2009 9:06am
Quoting Palmer
Not sure why things are ranging either way. Maybe the run down is just taking a breather here for a while. The ECB is meeting today too..I think.

I just got the email that ODL is closing all of its US accounts so I have to apply to another brokerage....great.
Hi Palmer,
I thought that you're using FXDD...
  • #18,477
  • Jan 15, 2009 9:33am Jan 15, 2009 9:33am
Quoting orangeRANGE
Entry @ 1.3149 (1 Lot)

SL @ 1.3249 (9pips above 8EMA = 100pips from entry rate)
TP @ 1.3049 (100 pips = just to make sure R:R ratio is 1:1)

Below is how my MACD window look like when I use 5.0;13.0;1.0 set up. (blank and make me boring)

See you guys tomorrow
Finally I bagged me pips yesterday
  • #18,478
  • Jan 15, 2009 9:39am Jan 15, 2009 9:39am
I'd really like to go with IB but I don't want to have that platform and use a demo MT4 account for posting charts and using indy's. Looking at either FXDD or IBFX...

ORange, yeah saw that but thought I'd take a low leverage entry when I assumed the 1hr was going south again. We'll see how this breakout goes. Last one was a false break, 'another' false break...
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  • #18,479
  • Jan 15, 2009 9:43am Jan 15, 2009 9:43am
go Go Sell!
  • #18,480
  • Jan 15, 2009 9:51am Jan 15, 2009 9:51am
Here's the 4hr.

If we get to the 2950 area I'll tighten things up quite a bit and maybe just exit altogether and broker hunt once again. Floating about 300 pips from the original entry with the 4hr about to close weaker. We'll see.
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