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4 Hour Strategy (MACD)

  • #2,801
  • Mar 19, 2007 5:29am Mar 19, 2007 5:29am
Quoting alcastro
I am waiting for a rebound to the long side from the 21 MA for both the Euro and the cable. If I see it, and a TC pattern I will very probably take the trade.

If it goes south, I will wait for a retracement and a TC pattern as well.

Does anybody has a trading plan for this two pairs at the moment based on what we are seeing?

BTW. I missed completely the strong move on the US/JP.

I'm with you, Alcastro. Note that usd/chf has also pulled back to the 21 at the moment, so be ready for a downmove if you see a trend continuation pattern forming.
  • #2,802
  • Mar 19, 2007 5:38am Mar 19, 2007 5:38am
You got it Dean, I got it, takin a rest right in front of a trendline I drew off off some tops. Gonna either bounce or T/C. Wait for signal.



J
  • #2,803
  • Mar 19, 2007 5:39am Mar 19, 2007 5:39am
How you doin AL.

Jim
  • #2,804
  • Mar 19, 2007 5:43am Mar 19, 2007 5:43am
Quoting hard1head1
Yep, onboard with you, just cruising past the 89 as we speak. coming up on some strong resistance at 117.75 or so. I am looking for it to come back th the 21 or so when it gets there.

Thanks for the help.

Jim

If it breaks that resistance it will be forming the 1-2-3 pattern that fxhermit mentioned before (did you get my message with the url about this formation?).
  • #2,805
  • Mar 19, 2007 5:46am Mar 19, 2007 5:46am
Quoting hard1head1
How you doin AL.

Jim
Hey Jim, I am waiting for the rebound from the 21 in the Euro. I don't know if I'll be able to catch it (I have to leave or my "real" work soon), and neither the 4hr or the 1 hr is giving any signal in the long direction.

How is your pip count going?
  • #2,806
  • Mar 19, 2007 5:54am Mar 19, 2007 5:54am
Right at 122 since we started. I don't have o work for a couple of hours. Don,t pull the trigger just because your going to work. Don't force it, the pips are coming easy enough as it is, remember what I told you about skype, we can talk later,. Right now the EURO is retracing a little.

Jim
  • #2,807
  • Mar 19, 2007 7:23am Mar 19, 2007 7:23am
EU seems to be on its way down again, since it "crossed" the 8MA now, and is in between 8MA and 21MA?

Initial R will be where the 21 MA line is, right?
  • #2,808
  • Mar 19, 2007 7:34am Mar 19, 2007 7:34am
As the title says...up 43 pips on 2 trades in the last 12 hours. 10 of which I spent sleeping!
Traded the USD/JPY and USD/CHF
  • #2,809
  • Mar 19, 2007 9:08am Mar 19, 2007 9:08am
Quoting pip pirate 2
You asked for some advice on the NZD/USD. Average trading range is 85. It moves very slowly and is somewhat tied to the aussie. I haven't traded it in months except for news events. I know I'm new to the group but I have been trading for over 2 years and here is my advice. I know people learning the system should stay with the euro and pound to start. But then the only real pairs to trade that give enough pips to benefit from the H1 and H4 (in my opinion) are the usd/jpy, gpy/jpy, eur/jpy, eur/aud, aud/jpy and eur/cad. When you guys perfect this system and then discover the exotics you are going to go crazy. That is why I am so excited about this system. Still only a few weeks into trading it but will post results as they happen. What I recommend is that I'm sure you all have a trading journal. Just start taking notes on the above pairs. Even if it is just writing down the price movements and the news events. Then when you are ready to paper trade them you will have months of notes. This is one of the ways I learned. When I started to understand the pairs and see patterns, I could look back at my notes.


Read any successful person’s biography and it goes like this: struggle, struggle, struggle, small success; struggle, struggle, struggle, small success; struggle, big struggle, struggle, BIG SUCCESS. See setbacks as proof of your future success. What makes anyone think that trading is any different?
Thanks a lot, pirate, for your help. You are very kind.
  • #2,810
  • Mar 19, 2007 9:11am Mar 19, 2007 9:11am
Quoting hard1head1
Yep, onboard with you, just cruising past the 89 as we speak. coming up on some strong resistance at 117.75 or so. I am looking for it to come back th the 21 or so when it gets there.

Thanks for the help.

Jim
You made my day, Jim. Now I believe I did not spend these 2 months on the forum in vain and you can play some other options! Looks like it is time for me retire.
  • #2,811
  • Mar 19, 2007 9:49am Mar 19, 2007 9:49am
anyone looking to get in short on the EUR/USD?

MACD is turning down, and heading towards the 21EMA
  • #2,812
  • Mar 19, 2007 10:37am Mar 19, 2007 10:37am
Info
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File Type: zip DailyWrapup 19March.zip   812 KB | 1,364 downloads
  • #2,813
  • Mar 19, 2007 11:09am Mar 19, 2007 11:09am
Tamara,

Don't do that, for, we are just beginning. LOL

Jim
  • #2,814
  • Mar 19, 2007 11:41am Mar 19, 2007 11:41am
Hi Everyone

looking at the MACD 4H now @ 16.00 March 19 2007, am I right to assume that a Head and Shoulder scenario is forming?

Please advise.

Kez
  • #2,815
  • Mar 19, 2007 11:45am Mar 19, 2007 11:45am
Quoting chenkz
Hi Everyone

looking at the MACD 4H now @ 16.00 March 19 2007, am I right to assume that a Head and Shoulder scenario is forming?

Please advise.

Kez

Which currency?? GBP USD??
  • #2,816
  • Mar 19, 2007 12:17pm Mar 19, 2007 12:17pm
Quoting tamkras
Following this impressive usd/jpy trade I am ready to test something new - nzd/usd. I have not seen anyone yet trying this pair using MACD strategy, at least, I did not see such posts. My real money is involved here - so, please, wish me good luck. I put 1 lot only for the sake of experiment and I will watch where I can take it. My dream is 0.6874 area which I marked on the chart. Yours, Tamara.
Hi Tam,
Is this trade solely based on the MACD strategy?

Tia, Scott
  • #2,817
  • Mar 19, 2007 1:05pm Mar 19, 2007 1:05pm
Quoting kunz78
Which currency?? GBP USD??

Hi Yes GBP/USD

Am I right?
  • #2,818
  • Mar 19, 2007 1:05pm Mar 19, 2007 1:05pm
Here are my trades so far for the day
Attached Image
  • #2,819
  • Mar 19, 2007 1:16pm Mar 19, 2007 1:16pm
Quoting Phillip Nel
Here are my trades so far for the day

Phillip,

Are these with your 5 min strategy?
  • #2,820
  • Mar 19, 2007 1:22pm Mar 19, 2007 1:22pm
Quoting alcastro
Phillip,

Are these with your 5 min strategy?
The first one was one I took on the 4Hour MACD while the other 3 were 5Min Strategy. Total 56 pips
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