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4 Hour Strategy (MACD)

  • #18,961
  • Mar 4, 2009 4:34am Mar 4, 2009 4:34am
Hi all...
I give it a try for this one....

Entry @ 1.2504
SL @ 1.2544 (5pips above 8ema = 37pips from entry)
TP @ 1.2470 (34pips from entry)
R:r = 1:0.92

We'll see if this work or not...

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #18,962
  • Mar 4, 2009 6:13am Mar 4, 2009 6:13am
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  • #18,963
  • Mar 4, 2009 6:23am Mar 4, 2009 6:23am
I made entry against the rules...
Already incresed my SL to 1.2557 (50pips from entry @ 1.2507) which is only 5pips below fib 100.0%.

Have to admit that I made silly mistake here...and one of the worst entry I have ever made...

Will leave this trade in open position...I am shaking my head now...
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  • #18,964
  • Mar 4, 2009 6:40am Mar 4, 2009 6:40am
Hi all,

Can anyone help me on this?

The price already break through 89ma and has make about two TC.

a) If the TC occurs within the whitebox for a short.
Should one take that short trade and place the stoploss slightly above trendline.

b) The price may also go and retest the upper trendline near the purple box.
Therefore, should skip par a)

A or B. Care to share some thoughts. Or look for bearish candle pattern if there is.

regards
jin
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  • #18,965
  • Mar 4, 2009 7:52am Mar 4, 2009 7:52am
a - correct

b - if price makes it to the 21 and closes above it, this is where things get iffy. A close above the 21 could mean price making it to the 89 a trendline, etc.

The rhythm is picking up and the tendency for the price to keep moving down is increasing so I'm keeping an eye on this pair as well
  • #18,966
  • Mar 4, 2009 8:44am Mar 4, 2009 8:44am
Hello Palmer and everyone,

Thanks for being always there. I'm sort of being a newbie but I'm grabbing the great message of this Phillip Nell's 4H MACD strategy.
Please, considering the current move in the market, are you expecting price to hit the 21 MA then 89 MA or expecting a TC on the short side?
Thanks.

-------------------------------------------------------
GOD, the author of all knowledge and wisdom
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  • #18,967
  • Mar 4, 2009 8:50am Mar 4, 2009 8:50am
Hello,
I'm sorry not to add this question earlier.
Are my trendlines appropriate?
THANKS.


-----------------------------------------------------
GOD, the author of all knowledge and wisdom
  • #18,968
  • Mar 4, 2009 9:24am Mar 4, 2009 9:24am
Hello Palmer, I just read your last post carefully and I think that answers my question (except that on trendlines). I'm so sorry. Thanks. --------------------------------------------------- GOD, the author of all knowledge and wisdom
  • #18,969
  • Mar 4, 2009 9:30am Mar 4, 2009 9:30am
I was just about to say that you've pretty much got it and it looks like that 'move' has started. If you want to visit the website you can click on my name for the profile and then select visit Palmer's website for additional info...
  • #18,970
  • Mar 4, 2009 11:51am Mar 4, 2009 11:51am
one intresting thing....
I beleive the trading rules are everywhere ,in the nature,in our lives and even in our account summary
this is my account history and hope i break the channel to upside
can u find the same rules in ur account?
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  • #18,971
  • Mar 4, 2009 12:05pm Mar 4, 2009 12:05pm
Quoting bshadroo
one intresting thing....
I beleive the trading rules are everywhere ,in the nature,in our lives and even in our account summary
this is my account history and hope i break the channel to upside
can u find the same rules in ur account?
Great Analogy my friend,

Or it could be that, this time, you will break the top trend line pull back to it and continue its rise to the top.............
Keeping Life Simple
  • #18,972
  • Mar 4, 2009 2:01pm Mar 4, 2009 2:01pm
Quoting time1300
Great Analogy my friend,

Or it could be that, this time, you will break the top trend line pull back to it and continue its rise to the top.............
great..
then u can go long my account after pullback to TL and go away ,hope it will not a false breakout )
  • #18,973
  • Mar 4, 2009 2:02pm Mar 4, 2009 2:02pm
Quoting bshadroo
one intresting thing....
I beleive the trading rules are everywhere ,in the nature,in our lives and even in our account summary
this is my account history and hope i break the channel to upside
can u find the same rules in ur account?
u are anyway making higher high not lower low. It is time to breakout.
  • #18,974
  • Mar 4, 2009 4:03pm Mar 4, 2009 4:03pm
Hi,

I see a morning star on GBP/USD. 4H shows close up above 21 and heading to 89. MACD get a break through zero. anybody with me?
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  • #18,975
  • Mar 4, 2009 4:36pm Mar 4, 2009 4:36pm
Has anyone else profited from the picture perfect trend on the USD/JPY?

How about you Palmer, did you get in any entries during the trend?

Price has pulled back to the 8ema and switching to the 1H, there might be a TC forming in the next bar or two..........It is the quite time for the markets now and the trend has almost lasted 20 days and I am little more cautious now than I was few days ago because of those reasons and also price is at the 200sma on the Daily and the 100.00 might be a big psychological barrier to get through but if we do, I think we will still see more upside to this pair.

In the chart, you can see with the arrows where I took my entries. I would take my entries in that 4H candle with a 1h entry. From the 4 trades, 1 was a loss as you can see on the second arrow, we had that big dip down and I was stopped out and I thought the trend was over at the time and we will see price come down and test the 89sma but it did not and it regained its direction again as you can see and hence the other 2 entries.

As Palmer has pointed out that when price closes beyond the 21ema, its a red flag to watch it more closely or maybe close your position as the trend might be coming to an end. But in some cases price might rally back and as was the case here, bounce back and continue in its original direction.
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Keeping Life Simple
  • #18,976
  • Mar 4, 2009 4:51pm Mar 4, 2009 4:51pm
Quoting time1300
Has anyone else profited from the picture perfect trend on the USD/JPY?...
Well done! price also reached fibo 23.6%.
  • #18,977
  • Mar 4, 2009 5:44pm Mar 4, 2009 5:44pm
Quoting bshadroo
one intresting thing....
I beleive the trading rules are everywhere ,in the nature,in our lives and even in our account summary
this is my account history and hope i break the channel to upside
can u find the same rules in ur account?


That's good stuff bsh! Yeah hoping for an uptrend for you as well!!

I had limited chart time today but pulled in a few on the EU on a lower timeframe. Yes, time1300, the Yen is moving well but I was really busy the last few days. Tomorrow should be 'bettter'...
  • #18,978
  • Mar 4, 2009 5:50pm Mar 4, 2009 5:50pm
Quoting time1300
Has anyone else profited from the picture perfect trend on the USD/JPY?

How about you Palmer, did you get in any entries during the trend?

Price has pulled back to the 8ema and switching to the 1H, there might be a TC forming in the next bar or two..........It is the quite time for the markets now and the trend has almost lasted 20 days and I am little more cautious now than I was few days ago because of those reasons and also price is at the 200sma on the Daily and the 100.00 might be a big psychological barrier to get through but if we do,...
I've done really well with UJ. I'm adding to my position on the pullbacks.
  • #18,979
  • Edited 7:26pm Mar 4, 2009 6:12pm | Edited 7:26pm
i see us/uj daily stop uptrend because sma 200 and trend line big
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  • #18,980
  • Mar 4, 2009 7:35pm Mar 4, 2009 7:35pm
Hi all...

Last night I made a silly mistake...traded against the rules...sorry about that...please take that as a lesson as well....

Okay...BoE and Ecb rates announcement will be today. Plus with NFP this Friday, I think we can only trade this pair sometime around next week onwards.

The OPEC's cut impact seems to supported the crude oil price with the report of decreasing in inventory yesterday.

So, below is currently what I can see from EU:-

Bear candle @ h4 currently are making the outside pattern (engulfing) as we can see the RT formation in h1 with 3 INSIDE DOWN pattern at the previous 5 candles. Price level 1.26 (A) become the immediate support so far. Fib 100.0% still a strong sup level for EU.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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