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4 Hour Strategy (MACD)

  • #18,521
  • Jan 21, 2009 7:35am Jan 21, 2009 7:35am
Quoting Palmer
I agree with you about another short opportunity forming...
Just waiting for the right SHORT signal. Or else, CT it will be...

This is your Trading Platform now? Did you read my e-mail sent to you before? Anyway, its up 2u
  • #18,522
  • Jan 21, 2009 6:10pm Jan 21, 2009 6:10pm
I'm going with FXDD. Waiting on the confirmation. I'd rather keep an MT4 broker because of the custom indicator ability. I've heard some not so good things about IBFX lately so we'll see how it goes....
  • #18,523
  • Jan 22, 2009 5:15am Jan 22, 2009 5:15am
Palmer,
Have you heard of FXPro.com? They have been running commercials on Bloomberg, and they have a lot of options on an MT4 platform. I'm thinking about giving them a shot.

As for the trades, here is one I took on the Euro-Pound. Previous 4 Hour candle closed at previous high with MACD confirmation. A no-brainer really. A nice short signal on the GBPJPY for people that trade that pair also.
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  • #18,524
  • Jan 22, 2009 5:46am Jan 22, 2009 5:46am
Hello all...

h4 : EU is rhythming nicely.

h1 : I found EVENING STAR as MACD window telling me the strength of the candlestick pattern. Already go SHORT @ opening bar of the recent candle.

Still becarefull with price level 1.2800 and trend line from Daily chart (see point X @ h4) anyway.

p/s-a loyal client of Easy Forex

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #18,525
  • Jan 22, 2009 7:35am Jan 22, 2009 7:35am
Thanks Hookem...I'll check them out.

What's wilder...Trading the GBPJPY or snowboarding a triple black diamond?
  • #18,526
  • Jan 22, 2009 7:42am Jan 22, 2009 7:42am
well done OrangeRange.....that was a nice one
  • #18,527
  • Jan 22, 2009 8:29am Jan 22, 2009 8:29am
Quoting Palmer
Thanks Hookem...I'll check them out.

What's wilder...Trading the GBPJPY or snowboarding a triple black diamond?
Neither are for the faint of heart.
  • #18,528
  • Jan 22, 2009 11:09am Jan 22, 2009 11:09am
Quoting orangeRANGE
Hello all...

h4 : EU is rhythming nicely.

h1 : I found EVENING STAR as MACD window telling me the strength of the candlestick pattern. Already go SHORT @ opening bar of the recent candle.

Still becarefull with price level 1.2800 and trend line from Daily chart (see point X @ h4) anyway.

p/s-a loyal client of Easy Forex

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Hello all...
Just make an exit around 2 hours++ ago since the trend line from Daily and price level 1.2800 still scared me out.... Here are my entry/exit details for today:-

ENTRY @ OPENING BAR = 1.2999

STOPLOSS @ HIGH OF PREVIOUS BAR = 1.3056 (30pips above 21EMA)

EXIT @ 10 PIPS BEFORE PRICE LEVEL 1.2900 = 1.2910

Risk:Reward = 57pips:89pips = 1:1.56

Trading period = < 4 hours

P/S-STILL CAN PIPPIN' WITHOUT USING MT4

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #18,529
  • Jan 22, 2009 8:17pm Jan 22, 2009 8:17pm
Goodday everyone...

I'm monitoring this price action now (red box). Looking for another SHORT opportunity.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #18,530
  • Jan 23, 2009 7:35am Jan 23, 2009 7:35am
Quoting orangeRANGE
Goodday everyone...

I'm monitoring this price action now (red box). Looking for another SHORT opportunity.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
EVENING STAR in red box as MACD formed sort of Double Top. Will have to use h1 SHORT entry.

p/s-looks like 100% retracement from EU highest peak @ Dec 18 2008 is on the card

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #18,531
  • Jan 25, 2009 6:42am Jan 25, 2009 6:42am
This is Chinese new year today, wish friends here make lots of pips in FX,
Thank you Phillip!
Happy 牛 year
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Plan your trades and trade your plans
  • #18,532
  • Jan 25, 2009 4:02pm Jan 25, 2009 4:02pm
Happy new year saka! Can you get to the website yet?

The EU is hitting the top of its downtrendline along with forming a probable Tc here. Caution with the close above the 21 though. Still waiting on my account with FXDD to open. Going to see how things go with MB trading going with MT4 as well at some point. They use the extra decimal but they are an ECN too..
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  • #18,533
  • Jan 25, 2009 8:54pm Jan 25, 2009 8:54pm
Quoting Palmer
Happy new year saka! Can you get to the website yet?

The EU is hitting the top of its downtrendline along with forming a probable Tc here. Caution with the close above the 21 though. Still waiting on my account with FXDD to open. Going to see how things go with MB trading going with MT4 as well at some point. They use the extra decimal but they are an ECN too..
Thanks, Palmer, the website still can't load here....

I find a interesting horizontal line about UJ, I think BOJ will never tolarent uj goes further down, so maybe this line would become a important support.
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GU has cracked the decend triangle, we can draw a parrelet line and anticipate the target.
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Plan your trades and trade your plans
  • #18,534
  • Jan 26, 2009 1:02am Jan 26, 2009 1:02am
Tweezer bottoms on the Pound 4H chart. Is anybody here crazy enough to go long the Pound?
  • #18,535
  • Jan 26, 2009 3:23am Jan 26, 2009 3:23am
Quoting saka
This is Chinese new year today, wish friends here make lots of pips in FX,
Thank you Phillip!
Happy 牛 year
HAPPY CHINESE NEW YEAR, SAKA and wishing you great prosperity throughout the year.
  • #18,536
  • Jan 26, 2009 3:29am Jan 26, 2009 3:29am
Quoting Hookem28
Is anybody here crazy enough to go long the Pound?
I may be taking a big risk going against such a strong downtrend but I am crazy enough to go long the pound.
The reason is the double bottom on the 1 hr GU and the MACD divergence on the 4 hr GU.
  • #18,537
  • Jan 26, 2009 6:51am Jan 26, 2009 6:51am
Based on the calendar this could shape up to be a very volatile week...keep an eye on the releases.
  • #18,538
  • Jan 26, 2009 9:17am Jan 26, 2009 9:17am
Quoting xeneric
I may be taking a big risk going against such a strong downtrend but I am crazy enough to go long the pound.
The reason is the double bottom on the 1 hr GU and the MACD divergence on the 4 hr GU.
It worked out very nicely for you. I strongly considered taking it because of the tweezer bottoms on the 4H, plus the likelihood of having the gap filled. Gap trading has been the most reliable trade in the book recently, but it's tough to go long a currency that has dropped 7,000+ pips in a little over a year.
Congrats on the pips!
  • #18,539
  • Jan 26, 2009 6:16pm Jan 26, 2009 6:16pm
gbpusd 4h

sell gbpusd @1.3878
stop loss @1.4100
target @1.3621

risk:reward 222:257

buy gbpusd @1.3661 get 217pips

i have no time looking at the picture ,by the time i come back ,i close the deal by myself.

any comments are welcome!!!!!
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  • #18,540
  • Jan 27, 2009 4:12am Jan 27, 2009 4:12am
Love this thread. keep up the good work.

Question, as well as using 1hr and 4hr as described on this thread, do any of you use a 2 or 5min just to refine entry into trade?

If so do you use different MACD or MA settings?
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