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4 Hour Strategy (MACD)

  • #3,201
  • Apr 2, 2007 6:42am Apr 2, 2007 6:42am
My internet connection was out all evening, it came back up sometime this morning. Kinda glad it did, the 4 hr MACD on the EURO$ looks ugly...

AriTron: I marked every turn on the MACD because I didn't want to not mark a turn that I saw and someone else didn't. Because different brokers have different data feeds and server times, what might be a rt forming on my chart might be a completed rt on someone else's chart because they use a different broker. I just decided to mark all the turns because everyone's charts may look a little different...
  • #3,202
  • Apr 2, 2007 7:02am Apr 2, 2007 7:02am
[quote=Palmer;260307]My internet connection was out all evening, it came back up sometime this morning. Kinda glad it did, the 4 hr MACD on the EURO$ looks ugly..

Hi Palmer, it doesnt look like much but anyone see a TC on the 4 hr eur$? Maybe waiting until USD news may be better.
  • #3,203
  • Apr 2, 2007 9:27am Apr 2, 2007 9:27am
[quote=O'Zeeke;260331]
Quoting Palmer
My internet connection was out all evening, it came back up sometime this morning. Kinda glad it did, the 4 hr MACD on the EURO$ looks ugly..

Hi Palmer, it doesnt look like much but anyone see a TC on the 4 hr eur$? Maybe waiting until USD news may be better.

Hi O'Zeeke
Yep I see the TC pattern forming, would anyone be going long after the 1200bar has formed?

Scliff
  • #3,204
  • Apr 2, 2007 12:48pm Apr 2, 2007 12:48pm
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File Type: zip DailyWrapup 02April.zip   756 KB | 1,457 downloads
  • #3,205
  • Edited 3:57pm Apr 2, 2007 3:55pm | Edited 3:57pm
Quoting wilczek
Pips, am i going mad or something, if i look at your pdf for march i see prices that the EURJPY hasnt touched in months !!!!!
Hi Wilczek!

LOL...no you aren't going mad...I backtested feb. march. and april of 2006. Trying to get a years worth of backtesting done on a pair I don't know the movements to & looking for seasonality patterns. Thought I put it in post and that it's identified on document...but not sure if I did...& pretty sure feb. doesn't identify on document b/c pdf I originally tried to post was too big...so good call!

Pips
  • #3,206
  • Apr 2, 2007 4:28pm Apr 2, 2007 4:28pm
hi,

do you have a template for meta trader 4 ?


regards,. felipe
  • #3,207
  • Edited 4:59pm Apr 2, 2007 4:55pm | Edited 4:59pm
Quoting ejiexe
entry @ 1.1515 and hope to rich 1.1600. any opinion pls.
Nice Trade!!! Very nicely done, indeed

Shouldn't have a problem w/your TP (& I love the TYPO...RICH....)..but don't forget to manage your trade and take or protect some profit...just in case it stumbles around the 200 on the hourly (~1.1576 area).
  • #3,208
  • Apr 2, 2007 5:35pm Apr 2, 2007 5:35pm
Anyone looking at the RT ?Possible Short?
  • #3,209
  • Apr 2, 2007 5:50pm Apr 2, 2007 5:50pm
As per post 3149 the GBP behaved pretty much as expected. A bit of stop running down to the 38 fib before the upside breakout which is usual in this game. Nice trend continuation signal on the 1 hour. Entry at 1.9680 and an exit at 1.9776 - just shy of 100 pips for the day makes for a nice start to the week and a great birthday present for the Hermit . Love and gratitude prevails.
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #3,210
  • Apr 2, 2007 8:53pm Apr 2, 2007 8:53pm
I'm a newer here.I shorted GBPUSD at 1.9778 today.Do you think it's a good place to short?
Attached Image
  • #3,211
  • Apr 2, 2007 9:01pm Apr 2, 2007 9:01pm
Congrats to your nice trade. I missed that one. All the best to you and may the pips be with you.
Pluto2
  • #3,212
  • Apr 2, 2007 9:21pm Apr 2, 2007 9:21pm
Is it a good idea to short AUD/USD? It looks good to me.
  • #3,213
  • Apr 2, 2007 9:22pm Apr 2, 2007 9:22pm
Quoting wujun122
I'm a newer here.I shorted GBPUSD at 1.9778 today.Do you think it's a good place to short?

Hi wujun, the 4 hr macd does show a entry short on my chart too but it may also turn into a TC (trend continue) signal . just be careful since you trading against the trend.
  • #3,214
  • Apr 2, 2007 9:25pm Apr 2, 2007 9:25pm
Quoting jogariga
Is it a good idea to short AUD/USD? It looks good to me.
For what it's worth, I took a short position after the news release myself, so we'll see how it goes. If it breaks above 8185 or so I'll start getting concerned, otherwise 8145 looks good, followed by 8115...
  • #3,215
  • Apr 2, 2007 10:48pm Apr 2, 2007 10:48pm
I"m going to wait for the bar to close (2 hours)
Before I short the cable.
  • #3,216
  • Apr 2, 2007 10:51pm Apr 2, 2007 10:51pm
Quoting wujun122
I'm a newer here.I shorted GBPUSD at 1.9778 today.Do you think it's a good place to short?
It looks good as far as the MACD signal is considered, but did you check S/R and TL, etc? MACD just gives you the signal, not knowing whether there is any support/resistance of trend lines, etc. We have to look at those barriers and make decision about Stop Loss and potential profit target and based on these two values, we have to calculate the Risk:Reward ratio. It this ratio is one or greater than one, then you can consider taking the trade. MACD signla itself is not enough confirmation to take the trade.
Good Luck.
-Chandra
  • #3,217
  • Apr 2, 2007 10:56pm Apr 2, 2007 10:56pm
Quoting O'Zeeke
Hi wujun, the 4 hr macd does show a entry short on my chart too but it may also turn into a TC (trend continue) signal . just be careful since you trading against the trend.
Hi O'Seeke,
If Wujun checks the 1hr MACD for any possible TC signal, then he may feel more confident about the 4hr MACD short signal. It seems that is the case as on April 3rd at 3:55 GMT.
-Chandra
  • #3,218
  • Apr 2, 2007 11:07pm Apr 2, 2007 11:07pm
TREND LINES... TREND LINES.... LONG TREND LINES..... SHORT TREND LINES.....SUPPORT AND RESISTANCE...... R:R RATIOS .......

Let we, all good MACD traders, talk about all MACD trades ALWAYS with TLs, S/R and R:R ratio.
Let us absorve Phillip and Hard1head1 (Jim) and see how they always never miss their TL , S/R and R:R in their talks.
Thanks and GOOD LUCK to ALL of us.
-Chandra
  • #3,219
  • Apr 2, 2007 11:12pm Apr 2, 2007 11:12pm
Pulled the pin on my AUDUSD short at 8143 - a nice 21 pip profit! I decided to get out at the 365 SMA. It might continue to drop past that longer term, but I'm not going to get greedy. I made just over $200 (traded $100K) so I'm not going to complain.
  • #3,220
  • Apr 2, 2007 11:23pm Apr 2, 2007 11:23pm
I am closing my EurUsd long of yesyterday for 7 pip loss as the MACD shows RT. To close to 21EMA for R:R to be OK.

GbpUsd shows nice RT. Target 21EMA. Just watch it for the trend to continue up. Look at the small candles on Friday and yesterday before it went up. The same setup currently. Close the short position if there is any signs of the trend going up. Look at 1hour for bounce of around zero. This is just to be aware of the possibility of a trend continuation.

Good luck
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