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4 Hour Strategy (MACD)

  • #18,561
  • Jan 29, 2009 7:09am Jan 29, 2009 7:09am
Hi all...

I just hope when the recent candle is closed the pattern in the dash-red box will be the EVENING STAR before making any decision.

Look how the price now react with the 21, 8 and 89 as well. Might get some clue here

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #18,562
  • Jan 29, 2009 7:16am Jan 29, 2009 7:16am
About the 365 MA: I agree. It's such a longer term moving average that it can take a while for it to come into play as far as a target or S/R area goes. I pu the majority of the weight on the 8/21/89 as well. Still waiting on the account to open....

EURUSD looks a little iffy right now.
  • #18,563
  • Jan 29, 2009 8:45am Jan 29, 2009 8:45am
Previously the EVENING STAR didn't emerged as I hoped. So here is my next approachment.

h4 : the recent candle is a spinner (red) with long sting-tail right now. As we can see the 89 serves as immediate resistance also.

h1 : expecting 3 INSIDE/OUTSIDE DOWN pattern to emerge at the closing of h4 candle

I will only take SHORT or else give I just give it a miss this time. I don't prefer LONG at this moment BECAUSE if the price go above 89, it needs time to develop an uptrend.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #18,564
  • Jan 29, 2009 8:54am Jan 29, 2009 8:54am
i agreed with your view. SHORT is my view to.
But i will be careful of the 1.3000 level.

Quoting orangeRANGE
Previously the EVENING STAR didn't emerged as I hoped. So here is my next approachment.

h4 : the recent candle is a spinner (red) with long sting-tail right now. As we can see the 89 serves as immediate resistance also.

h1 : expecting 3 INSIDE/OUTSIDE DOWN pattern to emerge at the closing of h4 candle

I will only take SHORT or else give I just give it a miss this time. I don't prefer LONG at this moment BECAUSE if the price go above...
  • #18,565
  • Jan 29, 2009 9:30am Jan 29, 2009 9:30am
h1 : 3 OUTSIDE DOWN is in the making. waiting for the recent candle closed
h4 : MACD shows TC
  • #18,566
  • Jan 29, 2009 2:36pm Jan 29, 2009 2:36pm
still waiting of funds to transfer.....aaaarrrrgggghhhhhh!!!!!
  • #18,567
  • Jan 29, 2009 7:29pm Jan 29, 2009 7:29pm
I looked at the daily chart and pretty much did a double take when I saw it. I'd like to take back what I said initially about the new low in the Fib # might be safe. Looking at the daily, my new 2 cent opinion sees this pair quite possibly revisiting the lows around the 23 or 2400 area. Just a thought but it looks like things are headed that way per the chart...
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  • #18,568
  • Jan 30, 2009 1:23am Jan 30, 2009 1:23am
Quoting Palmer
I looked at the daily chart and pretty much did a double take when I saw it. I'd like to take back what I said initially about the new low in the Fib # might be safe. Looking at the daily, my new 2 cent opinion sees this pair quite possibly revisiting the lows around the 23 or 2400 area. Just a thought but it looks like things are headed that way per the chart...
Hello Palmer...
You won't have to wait that long if you trading using the platform I use...but that's okay...you have made your choice my friend...

About EU direction...this pair might see strong support around 1.27 or 1.28 level. Those trend lines are the last obstacle before this pair make it full retracement from high of Dec 18 2008.

Welldone for those who made SHORT last night
  • #18,569
  • Edited 6:16am Jan 30, 2009 3:43am | Edited 6:16am
Seems like the 8ema has caught up to price after that gap created. I am short here as I think we are going to test 1.2800 and as most of you have said the 1.2400 and 1.2300 levels but being tomorrow is Friday and I do not like to hold positions over the weekend, I will watch closely and close if i am in the positive and carry my last lot over the weekend and setting stop loss at break even.

Edit:
took 25+ pips on my first lot

Edit:
I closed my other lot @ 1.2810 just shy of 1.2800, I was going to let my last lot run but I accidentally closed both lots. Oh well, will wait for the next signals.

150 pips/3= 50 pips

I am closing the books for January. Total of 270 pips.
Keeping Life Simple
  • #18,570
  • Jan 30, 2009 4:36am Jan 30, 2009 4:36am
Firstly sorry I'm at work so cant piost charts.

Does anyone follow to NZDUSD here? Taking a look and we had a daily close below the 5200 mark which was critical support. Looks as if the rythum is getting under way as there is space developing between the 8 & 21 on the 4hr. 1 hr is hanging in between the 8 & 21 with some nice top wicks on the candles, I am looking for a move down on the 1 hr to possibally get in with a stop at 5150.

Any suggestions

B
  • #18,571
  • Jan 30, 2009 4:42am Jan 30, 2009 4:42am
Took the trade, short at 0.5115, stop 0.5153, t/p 0.5012.

Happy trading all

B
  • #18,572
  • Jan 30, 2009 6:21am Jan 30, 2009 6:21am
Hi all...

I just wanna make it short and simple this time. I am very aware of trend line as pointed in red arrow in the chart. Currently the 1.2700 price level is a strong support there. Perhaps we might see some Counter Trend around that area. Only time can tell.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #18,573
  • Jan 30, 2009 7:24am Jan 30, 2009 7:24am
Quoting pubber
Took the trade, short at 0.5115, stop 0.5153, t/p 0.5012.

Happy trading all

B

I took a look at the kiwi and that pair looks like a definite short to me. Looks like you got in early too so I'm hoping you've already bagged a few in the bank!
  • #18,574
  • Jan 30, 2009 7:49am Jan 30, 2009 7:49am
Will definitley take a LONG position here if the closing of the recent bar make up the Morning Doji Star pattern. Can bagged some pips at least

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #18,575
  • Jan 30, 2009 8:00am Jan 30, 2009 8:00am
Quoting orangeRANGE
Will definitley take a LONG position here if the closing of the recent bar make up the Morning Doji Star pattern. Can bagged some pips at least

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
alway shift ur chart for clear ity
  • #18,576
  • Jan 30, 2009 8:18am Jan 30, 2009 8:18am
Quoting kareemoladun
alway shift ur chart for clear ity
Yes I do...but not less than h1
  • #18,577
  • Edited 9:01am Jan 30, 2009 8:51am | Edited 9:01am
Quoting orangeRANGE
Yes I do...but not less than h1
check previous post of chart posted by palmer or philip himself u will see how the chart looks yours is too close to the extreme end
  • #18,578
  • Jan 30, 2009 9:02am Jan 30, 2009 9:02am
Quoting kareemoladun
check previous post of chart posted by palmer or philip himself u will see how the chart looks yours is too close to the extreme end
1 lot entry @ opening of X bar = 1.2847
SL @ 6pips below the previous low = 1.2797 (50pips RISK)
TP @ X bar = 1.2797 (50pips REWARD)

The trend line (in orange circle) and the Doji Star make me feel safe to take LONG here. No problem with that as long my R:r = 1:1

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #18,579
  • Jan 30, 2009 9:25am Jan 30, 2009 9:25am
good for you orange. hope you managed to sell at TP. simply i cant do CT trades.

Turnarounds from trendline and 89 SMA(blue rectangles) were great setups also but huge candles. I couldnt use that RT and TC. has anybody got some pips or thoughts? maybe some 1h tricks for these setups?
I think i am not brave enough for this sytem.
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  • #18,580
  • Jan 30, 2009 9:29am Jan 30, 2009 9:29am
Quoting kareemoladun
alway shift ur chart for clear ity
Sorry dude...

I don't use mt4 when posting here and trading live. The software in the trading platform that I use is different. It can't be shift like mt4. I use mt4 just for my own reference only.

Too many people using mt4 here by the way. Just wanna make "a litlle different" here. Nothing personal.
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