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4 Hour Strategy (MACD)

  • #19,121
  • Mar 13, 2009 12:34am Mar 13, 2009 12:34am
Quoting BenStevo
Hi Orange,

Hope you don't mind me posting a quick comment here.
I definitely don't want to put you off your trade, as we all need to trade our own plans... but wanted to point out some things to be wary of.

I have a pin bar on my H4 at upper end of what I would consider to be a range (see multiple tests of resistance)..suggests to me to be looking / taking shorts rather than longs.

Please be wary. And interested to hear your thoughts.
BenStevo...

I already noticed that pin bar before. But guess what, it does not scared me as I have loads of sup levels from below as you can see in your h4. Plus, this pair in a strong upside move now.

I have the attitude of "do not let the market fear you". I practice this sometime. If the market turn against me...there will be nothing much I can do about it. That is why we are here...learning and trading...right?

Thanks for encouraging me to keep posting here.
  • #19,122
  • Mar 13, 2009 12:38am Mar 13, 2009 12:38am
Quoting orangeRANGE
Hi all...
Nobody talks about this pair. But I am still taking this one using h1 entry. And here are my typical simple explaination.

This is my first entry @ 0.6544.
SL = 74pips (3pips below 200sma and 21ema). Very large to risk. Will have to use 2 or 3 stage entries strategy this time....of trailing stops strategy.

No TP decided yet. Still in open position.

REASON FOR LONG:
1)Price already beyond TL and fib 61.8%; and
2)Price > 8 > 21 > 89

Not a good entry but I am comfort with this position for now....
Setting 1st entry with TP @ 0.6594 = 50pips reward.
Leaving the 2nd entry in open position for trailing stops strategy.
  • #19,123
  • Mar 13, 2009 12:46am Mar 13, 2009 12:46am
I am curious, is this method really as complex as it looks? The charts make my eyes hurt...
TRO
  • #19,124
  • Mar 13, 2009 12:49am Mar 13, 2009 12:49am
Quoting Money4Nothing
I am curious, is this method really as complex as it looks?
Method is simple and profitable. It is up to you how to use it. Do you want to use it with complexity...or simplicity?

Go through the lessons as listed in Page 1. Learning is benificial for you...

Goodluck
  • #19,125
  • Mar 13, 2009 1:06am Mar 13, 2009 1:06am
Quoting BenStevo
Hi Orange,

Hope you don't mind me posting a quick comment here.
I definitely don't want to put you off your trade, as we all need to trade our own plans... but wanted to point out some things to be wary of.

I have a pin bar on my H4 at upper end of what I would consider to be a range (see multiple tests of resistance)..suggests to me to be looking / taking shorts rather than longs.

Please be wary. And interested to hear your thoughts.
BenStevo,

Just to refresh some of Phillip's teaching....

In case you didn't see this, see price level 0.6500 as an immediate support level as well. If you see the BLACK TL I made in chart below, what can you see from it? How the price reacting with this line? You may answer this to yourself.

I just hope this line is strong enough because the fib 61.8% and the long term TL are also there in their place...

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 27 KB
  • #19,126
  • Mar 13, 2009 4:24am Mar 13, 2009 4:24am
Before I head to bed,

The GBP/USD performed as anticipated in my last post according to our rules and method. This was a perfect example of a high probability counter trend trade. Please see my last post for more explanation before the move happened and how to position yourself for the move and what to look for.
Keeping Life Simple
  • #19,127
  • Mar 13, 2009 6:01am Mar 13, 2009 6:01am
Quoting orangeRANGE
Setting 1st entry with TP @ 0.6594 = 50pips reward.
Leaving the 2nd entry in open position for trailing stops strategy.
Trailing stops @ 0.6524 (just below 8EMA) for both previous entry. This mean:-

1st Entry (0.6544) with only 20pips risk now; and
2nd Entry is now in a FREE RIDE...!!!!

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 26 KB
  • #19,128
  • Mar 13, 2009 9:54am Mar 13, 2009 9:54am
hi i would like to know for the setups of EMAs

1. 365 Exponential Moving Average (365EMA)
2. 200 Simple Moving Average (200SMA)
3. 89 Simple Moving Average (89SMA)
4. 21 Exponential Moving Average (21EMA)
5. 8 Exponential Moving Average (8EMA)

for each i should put High, Low or Close to the 'Apply to:' part?
  • #19,129
  • Mar 13, 2009 10:00am Mar 13, 2009 10:00am
Quoting Chisan
hi i would like to know for the setups of EMAs

1. 365 Exponential Moving Average (365EMA)
2. 200 Simple Moving Average (200SMA)
3. 89 Simple Moving Average (89SMA)
4. 21 Exponential Moving Average (21EMA)
5. 8 Exponential Moving Average (8EMA)

for each i should put High, Low or Close to the 'Apply to:' part?
CLOSE
  • #19,130
  • Mar 13, 2009 10:31am Mar 13, 2009 10:31am
Quoting orangeRANGE
Trailing stops @ 0.6524 (just below 8EMA) for both previous entry. This mean:-

1st Entry (0.6544) with only 20pips risk now; and
2nd Entry is now in a FREE RIDE...!!!!
My AUDusd (LONG) today's result :-

1st Entry already hit TP @ 0.6594 = 50pips in the bag
2nd Entry still Free Riding and Free Floating...

I am happy with my trade today...hopefully my Free Ride can make it all the way as long as possible...

Good luck to all of you...see ya' next week
  • #19,131
  • Mar 13, 2009 10:37am Mar 13, 2009 10:37am
Quoting orangeRANGE
CLOSE
thanks alot. so i will put CLOSE in the Apply to: for all of them.!

thank you
  • #19,132
  • Edited 1:06pm Mar 15, 2009 12:50pm | Edited 1:06pm
Hi,

After 8 months in Forex I developed my own system by looking at historical charts. Coincidentally, this is the same exact system, except that it works on H1 and considers EMAs 5,20,50 and 100 for trend confirmation.

I am pleasently surprised to see that the same system is so popular and acclaimed.

This thread infuses a lot of confidence in my method and I am hoping to make a lot of pips this week!

Thanks Philip,
JForex.
  • #19,133
  • Mar 15, 2009 11:22pm Mar 15, 2009 11:22pm
What Brokers are the best to open a live account with? I would like to start with a micro account.





  • #19,134
  • Mar 16, 2009 1:44am Mar 16, 2009 1:44am
Who can post transcripts of mp3 namedEurUsd Trendline andMACD Signals. I cann't find transcripts in the thread and I cann't understand Phillph's spoken English.
they're linked here:
1 http://www.forexfactory.com/showpost...postcount=1159
2 http://www.forexfactory.com/showpost...postcount=1166
Thank you in advance!!
  • #19,135
  • Mar 16, 2009 6:29am Mar 16, 2009 6:29am
Quoting Pipdance
What Brokers are the best to open a live account with? I would like to start with a micro account.
Have you demo traded an account yet? I would not even bother going near a Live account until you have demo traded for at least 6 months and been succesful. Otherwise your 90% likely to lose your money.

That said Alpari offer micro accounts.I used them and have had no problems for a couple of years. They also offer demo accounts.

Good Luck.
  • #19,136
  • Edited 6:51am Mar 16, 2009 6:41am | Edited 6:51am
Chaps/Ladies. Been away for a while. Having a forex rest so to speak and selling stuff on ebay. Hey, the loft needing clearing out. Made £600!!!

Anyhoo. Was looking at GBPUSD last night as it opened and took on the gap close trade. It open right on the 21ema so decided it was worth the risk. I also had the 11th Mar as a completed W.2 just for info.

Took half off after 70pips. Rest letting run with manual trailing stop. Target the orange daily [email protected].

Good Luck.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 16-03-2009.jpg Size: 134 KB
  • #19,137
  • Mar 16, 2009 6:49am Mar 16, 2009 6:49am
This took peaked my intrest!

2 units @ 98.174
SL 97.75
TP 99.00

1 Unit closed for 20pips, rest @BE

Finding support off 21 and 89 and small TC 0800 Candle.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY 16-03-2009.jpg Size: 119 KB
  • #19,138
  • Mar 16, 2009 7:15am Mar 16, 2009 7:15am
Quoting orangeRANGE
My AUDusd (LONG) today's result :-

1st Entry already hit TP @ 0.6594 = 50pips in the bag
2nd Entry still Free Riding and Free Floating...

I am happy with my trade today...hopefully my Free Ride can make it all the way as long as possible...

Good luck to all of you...see ya' next week
Closing my Free Ride (0.6524) at 0.6622. 98pips in the bag...!!!!!!!!!!!!!!!!!!!!!
  • #19,139
  • Mar 16, 2009 8:34am Mar 16, 2009 8:34am
Hi all...

I just give my simple view for this pair today. It is currently resisted @ fib 76.4%. Maybe because of the BoJ and Fed rates ahead.

Better take some rest for these two days (tomorrow and Wednesday) ey?

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 33 KB
  • #19,140
  • Mar 16, 2009 6:18pm Mar 16, 2009 6:18pm
Quoting orangeRANGE
Hi all...

I just give my simple view for this pair today. It is currently resisted @ fib 76.4%. Maybe because of the BoJ and Fed rates ahead.

Better take some rest for these two days (tomorrow and Wednesday) ey?

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Hi orange,

How do u draw this fibo?
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