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4 Hour Strategy (MACD)

  • #3,221
  • Apr 2, 2007 9:26pm Apr 2, 2007 9:26pm
Thanks once again for your input Phillip - it is always appreciated!
  • #3,222
  • Apr 2, 2007 10:39pm Apr 2, 2007 10:39pm
Phillip how would you take this trade:

IF you took the short trade on the Cable RT and it fell a bit and then started an upwards trend continuation with a 0 MACD Bounce and a bounce off the 21 ema on the 1hr charts.

Would you simply close your position?
Or would you reverse your position and go long?

thanx
  • #3,223
  • Apr 2, 2007 10:59pm Apr 2, 2007 10:59pm
Thank you for the suggestions of O'Seeke and Chandra.
Phillip Nel,thank you for sharing 4 Hour Strategy.
I Also say thank you to another people who posted here because I learned trading from you.
  • #3,224
  • Apr 2, 2007 11:48pm Apr 2, 2007 11:48pm
Hi Alcastro,

Nice job on your EURJPY long! Are you moving to BE now and taking some profit off table? Looks like it has more room to run! (I closed my long b/c I only had 1 lot open and wanted to bank a few pips).

Talk to you later,
Pips

ps..I sent you PM & Skype too...hope you see this..
  • #3,225
  • Apr 2, 2007 11:58pm Apr 2, 2007 11:58pm
Correct me if I'm wrong, but I see a bullish (trend continuation) pattern on cable now.

Not only that, but GBP is looking bullish against most currencies at the moment.

And what with expectations of an interest rate rise tomorrow...
If it's too good to be true, it probably is.
  • #3,226
  • Apr 3, 2007 1:42am Apr 3, 2007 1:42am
hiii

im kinda new to this forex thing so obviously i need help and learn lots of things from u guyz, especially u mr.phil and it gives me lots of technical method.

i'v been learning phil methods which based on MACD and using them on gbp/usd and eur/usd.

for gbp/usd, what i can tell from 4 hour chart, the macd shows a sign of TC, which is declining for now. This sign is also supported by the 1 hour chart that tell us lower high situation.

Based on my analysis above, could i say that the TC in 4 hour chart is starting to decline, as the 1 hour chart tells us low high situation.

Thank much and please give me ur input abt this
  • #3,227
  • Edited 4:58am Apr 3, 2007 2:28am | Edited 4:58am
Well my prediction was wrong , but I am still learning.

What I still dont understand is what to do when a pattern turns from bearish to bullish and back again.

Edited - I realise what I did wrong now. Didnt wait for the bar to close!
If it's too good to be true, it probably is.
  • #3,228
  • Apr 3, 2007 5:27am Apr 3, 2007 5:27am
I took the rt on the EURO$ yesterday, and about 12 hours later I couldn't take it any more and cashed out 10 pips. There was a tc signal right now but to me it looks kinda weak so I'm on the sidelines. The markets need a shot in the arm, something that'll shock 'em into motion. Hmm, something that will just scare the hell out of them. Something that no man has seen before. A different life-form or even something artificial that has no sense of control, talent, or self worth...
.
.
.
something...
.
.
.
like, maybe...
.
.
.
wait a moment...
.
.
.
I see it...
.
.
My God! What is this, this Thing!!!
.
.
.
AAAAAAAAAAAAHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!
Attached Image
  • #3,229
  • Edited 8:28am Apr 3, 2007 8:27am | Edited 8:28am
Quoting Palmer
I took the rt on the EURO$ yesterday, and about 12 hours later I couldn't take it any more and cashed out 10 pips. There was a tc signal right now but to me it looks kinda weak so I'm on the sidelines. The markets need a shot in the arm, something that'll shock 'em into motion. Hmm, something that will just scare the hell out of them. Something that no man has seen before. A different life-form or even something artificial that has no sense of control, talent, or self worth...
.
.
.
something...
.
.
.
like, maybe...
.
.
.
wait a moment...
.
.
.
I see it...
.
.
My God! What is this, this Thing!!!
.
.
.
AAAAAAAAAAAAHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!
That might just do it Palmer, good to inject a little levity, that helps especially after loosing on the retracement spike on the gbp$ i shoulda known not to buck the trend, oh well whatsa few pips
  • #3,230
  • Apr 3, 2007 8:53am Apr 3, 2007 8:53am
Quoting O'Zeeke
That might just do it Palmer, good to inject a little levity, that helps especially after loosing on the retracement spike on the gbp$ i shoulda known not to buck the trend, oh well whatsa few pips
Sorry to hear about the retracement loss, O'Zeeke....But, great Job last week...finishing positive!!! (I got out of a long trade at a loss if that helps...I couldn't figure out my stop, so I got out for -28 and -38.....Now, I have to up my weekly goal.... ...thought about buying at 1.9741...but no confirmation from MACD...Just the opposite!).

And Palmer....Your last few posts

Thanks!
  • #3,231
  • Apr 3, 2007 9:20am Apr 3, 2007 9:20am
I lost my gbp/usd trade on that malicious retracement spike high too.
After the spike, it went down to meet my original target exactly.

I am trading forex with my wife, discussing our plan for the trade.
Both of us decided not to trade gbp/usd for the time being.
We need deep room for s/l to trade this pair, which looks like to be the most favorable pair for speculation.

We shall survive.
  • #3,232
  • Apr 3, 2007 9:48am Apr 3, 2007 9:48am
Quoting O'Zeeke
That might just do it Palmer, good to inject a little levity, that helps especially after loosing on the retracement spike on the gbp$ i shoulda known not to buck the trend, oh well whatsa few pips
I recognize her! It's Wonder Woman! I recognize the breastplate armor! She doesn't have her tiara on tho. She is certainly someone that one can wonder about.

I heard that she is involved with PIP! (Pig Improvement Program) What a coincidence.
  • #3,233
  • Apr 3, 2007 9:55am Apr 3, 2007 9:55am
btw, phillip, thanks for this great thread! Your outstanding strategies here @FF are really amazing.
  • #3,234
  • Apr 3, 2007 10:03am Apr 3, 2007 10:03am
Quoting pips4uandme
Sorry to hear about the retracement loss, O'Zeeke....But, great Job last week...finishing positive!!! (I got out of a long trade at a loss if that helps...I couldn't figure out my stop, so I got out for -28 and -38.....Now, I have to up my weekly goal.... ...thought about buying at 1.9741...but no confirmation from MACD...Just the opposite!).

And Palmer....Your last few posts

Thanks!

Palmer...Pips...

Watch out for the "Endy-police", you may be censored for those comments.

Sorry Pips, but I couldn't help it!!!
  • #3,235
  • Apr 3, 2007 10:07am Apr 3, 2007 10:07am
Info

Is she new to the thread. The one Palmer introduced.
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File Type: zip DailyWrapup 03April.zip   845 KB | 1,390 downloads
  • #3,236
  • Apr 3, 2007 12:25pm Apr 3, 2007 12:25pm
Well, that's what I get for not letting the method do what it's supposed to do and getting our early. The EURO$ was just a few pips shy of hitting the 89 after the rt from yesterday. There were a few quick tc's to the upside (4hr above the 89 and hitting the 21 and returning to the upside for some pips) but it's hard for me to monitor that during the 'work hours'. Either way, my guess is that the markets will be around tomorrow...but I know where I'll be in July!!!
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  • #3,237
  • Apr 3, 2007 12:37pm Apr 3, 2007 12:37pm
Quoting kappa
I lost my gbp/usd trade on that malicious retracement spike high too.
After the spike, it went down to meet my original target exactly.

I am trading forex with my wife, discussing our plan for the trade.
Both of us decided not to trade gbp/usd for the time being.
We need deep room for s/l to trade this pair, which looks like to be the most favorable pair for speculation.

We shall survive.

Hi kappa, i think it was our mentor Phillip that said the british pound are notorious stop hunters., i will still trade it(gbp$) but i have a set amount of pips what i am willing to lose and it works out more often than it dosnt so you will still be up some pips. i just have to be more caucious when trading against the overall trend even with a macd signal. good luck to you and your wife with your trading
  • #3,238
  • Apr 3, 2007 12:51pm Apr 3, 2007 12:51pm
Quoting pips4uandme
Sorry to hear about the retracement loss, O'Zeeke....But, great Job last week...finishing positive!!! (I got out of a long trade at a loss if that helps...I couldn't figure out my stop, so I got out for -28 and -38.....Now, I have to up my weekly goal.... ...thought about buying at 1.9741...but no confirmation from MACD...Just the opposite!).

And Palmer....Your last few posts

Thanks!
Thanks Pips, i always enjoy and learn from your posts and please keep them coming, ... because my thinking is that newbies reading thru all of our stuff would feel the comradarie that this forum has had which for me has been a positive learning experience and i appreciate reading everything this thread has and feel privleged to be part of it
  • #3,239
  • Apr 3, 2007 1:05pm Apr 3, 2007 1:05pm
Alberto,

Very nice trade, old buddy. I never got my retrace on this one. Ah well, the fortunes of war. But we live to fight another day, with Aussie & CAD. Thanks Pips and Tam for holding MY feet to the fire. Still in the Cad trade after trendline B&T ( Break & Test). Gonna let it retrace and see what it will do, as I owe it that. Also caught the bounce off the T/L and joined u in the U/J. Got my alert set and will watch it closely.

So far this week: 1 Trade -35
1 Trade +42
1 Trade +3
1 Trade +61 ( Still going )

Jim
  • #3,240
  • Edited 1:40pm Apr 3, 2007 1:12pm | Edited 1:40pm
Looks like the yen might be gaining steam and may be in for a turn around with the three major pairs. Will be waiting for the RT with the EUR,GBP,USD/JPY on the 4 hr. Check the 1 hour for any early confirmations.
Chau,
Dionysius
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