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4 Hour Strategy (MACD)

  • #18,921
  • Mar 2, 2009 7:53am Mar 2, 2009 7:53am
Hello again...

Long tails in h4 showing that the price found strong support @ fib 100.0% so far. More details on price action @ h1.

Might give this a miss today...

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 21 KB
Click to Enlarge Name: eu2.gif Size: 22 KB
  • #18,922
  • Mar 2, 2009 8:00am Mar 2, 2009 8:00am
Quoting Palmer
I do remember that but, that was a while back. You might just want to search the thread for 'macd backtest' or something and see what comes up...

Watching the Yen for a long. Last open position was stopped out Friday at b/e. Don't like holding over the weekend unless I'm in really good. Any positive pips are all closed out before the Friday close...

I've made some pips off the UJ recently. I'm with you. I believe it's going to resume uptrend soon.
  • #18,923
  • Mar 2, 2009 11:38am Mar 2, 2009 11:38am
Quoting Palmer
I do remember that but, that was a while back. You might just want to search the thread for 'macd backtest' or something and see what comes up...

Watching the Yen for a long. Last open position was stopped out Friday at b/e. Don't like holding over the weekend unless I'm in really good. Any positive pips are all closed out before the Friday close...
Thank you!! I will do it!
  • #18,924
  • Mar 2, 2009 11:49am Mar 2, 2009 11:49am
Quoting orangeRANGE
Still beware of fib 100.0% though...
Do you not just mean look out for support at the last low?..
  • #18,925
  • Mar 2, 2009 2:05pm Mar 2, 2009 2:05pm
Still waiting for the Yen to break out...scamming a few on the dips on a lower timeframe. 1hr looks like it's getting little stronger...barely.
  • #18,926
  • Mar 2, 2009 2:16pm Mar 2, 2009 2:16pm
at least it did 10 minutes ago...
  • #18,927
  • Mar 2, 2009 9:07pm Mar 2, 2009 9:07pm
Quoting dynamicsoul
Do you not just mean look out for support at the last low?..
Which last low are you refering to? 1.2300?
  • #18,928
  • Mar 2, 2009 9:25pm Mar 2, 2009 9:25pm
Hi all...

I am currently looking at this pair as this way. EU is still bearish in overall trend and looks like it manage to get support twice from fib 100.0% level as per d1 chart below. The dash-blue line is how I think EU is presently channeling.

If the market continues to the downside, I predict the next possible support is fib 123.6%...maybe in few months to come...well...who knows? Only time can tell...

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 20 KB
  • #18,929
  • Mar 2, 2009 9:54pm Mar 2, 2009 9:54pm
Hello everyone,

My bias is still to be on the sidelines. The Eur is in the 1.2550 to 1.2600 area and once it is broken and if it is broken then we can easily see the 1.2300 area. The markets seem to be very volatile with lots of uncertainty so that might offer us some uncertainty here in our pairs.

Palmer:
I also have been looking for a long entry myself and I thought I might get it on the 1H but that slowly changed.

Orange:
I agree with you with that two double bottom......I noticed that myself as well on my charts, we can either see a retracement here or downward movement.....time can only tell...patience, patience, patience

As for the GBP/USD fellas:
it made a TC on the 4H coming down to the daily trend line as you can see on my Daily chart........Price is now retracing back to the 8ema and we could see a break of that trend line. Again, this pair as well has been in the consolidation period but with a total bias to the downside.........
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 4h.gif Size: 47 KB
Click to Enlarge Name: gbpusd daily.gif Size: 43 KB
Keeping Life Simple
  • #18,930
  • Mar 2, 2009 10:49pm Mar 2, 2009 10:49pm
Does anybody see a descending triangle in UJ? But it seems it get support on a TL and all candle close above 21. I am not sure whether it is going to down or up. No macd signal yet.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 30 KB
  • #18,931
  • Edited Mar 3, 2009 12:41am Mar 2, 2009 11:31pm | Edited Mar 3, 2009 12:41am
Quoting time1300
Orange:
I agree with you with that two double bottom......I noticed that myself as well on my charts, we can either see a retracement here or downward movement.....time can only tell...patience, patience, patience
.........
Hello mate...
That DB in EU could be the turning point to the upside eh? Maybe we shold see some clear direction in a week. Hmmm....
  • #18,932
  • Mar 3, 2009 12:39am Mar 3, 2009 12:39am
Quoting fishmen
Does anybody see a descending triangle in UJ? But it seems it get support on a TL and all candle close above 21. I am not sure whether it is going to down or up. No macd signal yet.
fish...
I will only see the UJ pair in this way....shouldn't be a problem for you to wait for a clear signal using h1 entry

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 17 KB
Click to Enlarge Name: eu2.gif Size: 17 KB
  • #18,933
  • Mar 3, 2009 2:33am Mar 3, 2009 2:33am
hello all, before going to bed,

I am long here at the 08:00 candle......on the USD/JPY I feel we might test the 200sma on the Daily at just shy of 99.00. I believe that is a not only the 200sma and also the 99.00 psychological price point which is just under the 100.00 point mark. Hope I wake up with some pips in the bank......
Keeping Life Simple
  • #18,934
  • Mar 3, 2009 2:33am Mar 3, 2009 2:33am
Quoting orangeRANGE
fish...
I will only see the UJ pair in this way....shouldn't be a problem for you to wait for a clear signal using h1 entry

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Hi Orange,

what is your blue MA? I don't have this one.
  • #18,935
  • Mar 3, 2009 4:31am Mar 3, 2009 4:31am
Attached Image (click to enlarge)
Click to Enlarge Name: 20090210.gif Size: 28 KB
  • #18,936
  • Mar 3, 2009 4:46am Mar 3, 2009 4:46am
Quoting yisa
Hi Orange,

what is your blue MA? I don't have this one.
Hai yisa...here they are...

SMA
89
200

EMA
8
21
365
  • #18,937
  • Mar 3, 2009 6:12am Mar 3, 2009 6:12am
Hi all...I just did this....

SHORT ENTRY @ 1.2622
SL @ 1.2654 (5pips above 21ema=32pips from b.e)
TP @ 1.2590 (32pips from b.e)
R:r=1:1

Within 1 hour+++ and already have 32pips in the bag.... using h1 entry and always based on h4 rules...

Goodluck to all of you today....
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 21 KB
  • #18,938
  • Mar 3, 2009 7:43am Mar 3, 2009 7:43am
Quoting orangeRANGE
Hai yisa...here they are...

SMA
89
200

EMA
8
21
365
Hi Orange,

I have different SMA200 in daily chart with you.
the yellow one is SMA200.
Attached Image (click to enlarge)
Click to Enlarge Name: QQ截图未命名.jpg Size: 46 KB
  • #18,939
  • Mar 3, 2009 9:07am Mar 3, 2009 9:07am
Quoting orangeRANGE
fish...
I will only see the UJ pair in this way....shouldn't be a problem for you to wait for a clear signal using h1 entry

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Thanks. u are right. I am new to forex. Currently more failure than success.
  • #18,940
  • Mar 3, 2009 11:02am Mar 3, 2009 11:02am
Quoting orangeRANGE
Hi all...I just did this....

SHORT ENTRY @ 1.2622
SL @ 1.2654 (5pips above 21ema=32pips from b.e)
TP @ 1.2590 (32pips from b.e)
R:r=1:1

Within 1 hour+++ and already have 32pips in the bag.... using h1 entry and always based on h4 rules...

Goodluck to all of you today....
Hi orange,

Could u explain in more detail of your trade? Why do u want to take it, is it because the long tails previously in H1 and crossover of ADX? What about the signal in 4H at the moment u take the trade? And how do u determine your TP? do u use trailing stop? Many Thanks!
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