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4 Hour Strategy (MACD)

  • #3,361
  • Apr 9, 2007 9:39pm Apr 9, 2007 9:39pm
what's moving the Euro$ ?
  • #3,362
  • Apr 9, 2007 9:44pm Apr 9, 2007 9:44pm
I have absolutely NO clue.
Manipulation?

I rode this thing down for then just went just as it was breaking out and up another 60 pips in just a few hours.

fun times.
  • #3,363
  • Apr 9, 2007 9:45pm Apr 9, 2007 9:45pm
Man just got hit pretty good lost $470. Unreal good numbers for US. and then this B.S.
  • #3,364
  • Apr 9, 2007 9:47pm Apr 9, 2007 9:47pm
don:

you would have been up about 75 pips on this signal alone.

turk:

I need to go to sleep but I have to keep moving my stop UP!!!!
  • #3,365
  • Apr 9, 2007 10:02pm Apr 9, 2007 10:02pm
Quoting gman29
Man just got hit pretty good lost $470. Unreal good numbers for US. and then this B.S.
I'm with you...I'm down, but not out yet. But I have have no clue what caused the eur/usd to go 90pips up just like that! Unreal!
  • #3,366
  • Apr 9, 2007 11:06pm Apr 9, 2007 11:06pm
Not sure if it is USD weakness or Euro strength that caused the drop. But, the USD fell straight across the board to all the majors. EURJPY just made another all time high 159.75.
  • #3,367
  • Apr 10, 2007 1:30am Apr 10, 2007 1:30am
Hi guys,
in case of big moves when one is not sure what caused them, I look at Bloomberg.
Sure, they have explanation for everything, after the move is done, and it is not probably very good to let them confuse us too much, but from time to time, it is worth to browse those pages.

BR,
Endy
  • #3,368
  • Apr 10, 2007 1:38am Apr 10, 2007 1:38am
Hi guys

I was watching Bloomberg earlier. They mentioned the Dollar weaken against all major currencies is due to the tension between US and China (US file complaint to WTO on China for keeping its currency undervalued and protect priacy).
  • #3,369
  • Apr 10, 2007 2:23am Apr 10, 2007 2:23am
Irusoh, I just wanted to thank you for your new MACD indicator. The alerts look great.....can't wait to try it. Thanks.
  • #3,370
  • Apr 10, 2007 7:30am Apr 10, 2007 7:30am
It's always easier to report on the news in the currencies after the fact. That was a good run last night in the EURO$ hope there were some other people there for the ride...Alcastro, Turk did you guys have a seat on that train with me? I'm sitting on the sidelines until after Bernanke is done talking tomorrow.
  • #3,371
  • Apr 10, 2007 8:20am Apr 10, 2007 8:20am
Quoting Palmer
It's always easier to report on the news in the currencies after the fact. That was a good run last night in the EURO$ hope there were some other people there for the ride...Alcastro, Turk did you guys have a seat on that train with me? I'm sitting on the sidelines until after Bernanke is done talking tomorrow.

I missed it. I was away from my computer when the move began.
  • #3,372
  • Apr 10, 2007 8:58am Apr 10, 2007 8:58am
Quoting alcastro
I missed it. I was away from my computer when the move began.
I got on the train too but got off at the first stop(20 pip) , set limit at between the 8 and 21 after Phillip reminded us that once it break the 21 it gose back to retest it. I had to go to work and wish i was live but im happy
  • #3,373
  • Apr 10, 2007 10:33am Apr 10, 2007 10:33am
Quoting Maseyw
Irusoh, I just wanted to thank you for your new MACD indicator. The alerts look great.....can't wait to try it. Thanks.
I can't get it to work. Is complaining error Cannot open file 'C:\Program Files\Interbank FX Trader 4\experts\indicators\MACD_Colored_v102.ex4' on the EURUSD,H4

I know it is a compiling problem. where will i get the compiler?
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #3,374
  • Apr 10, 2007 10:33am Apr 10, 2007 10:33am
Only on my demo account but i definetly got on. It was at trendline( a little bit through on my charts) plus the previous 2 candles were tweezer bottoms so in my opinion it was a good high probability trade. These was no round bottom on the macd( well a distorted one so in all fairness this trade was not in Phils rules i just went with the trendline and candles) i would have exited earlier but i was late checking up on my trade so i got more pips then i bargained for!
I didnt think it was going to go that high but i got the hit of the whole fruit! I wasnt paying attention to news but i will have to in the future
  • #3,375
  • Edited 11:38am Apr 10, 2007 10:52am | Edited 11:38am
Quoting AriTron
Only on my demo account but i definetly got on. It was at trendline( a little bit through on my charts) plus the previous 2 candles were tweezer bottoms so in my opinion it was a good high probability trade. These was no round bottom on the macd( well a distorted one so in all fairness this trade was not in Phils rules i just went with the trendline and candles) i would have exited earlier but i was late checking up on my trade so i got more pips then i bargained for!
I didnt think it was going to go that high but i got the hit of the whole fruit! I wasnt paying attention to news but i will have to in the future
That's the problem, there was no news. There really wasn't a MACD buy signal. Price just took off. This was just one of those "luck" trades...either you were in long on the e/u and scored big. Or you were short b\c of the NFP report on Friday and took a loss. Now we'll sit back and wait for signal.

Let me clarify that, there were no signals on my charts...using MIG and interbank data feeds.
  • #3,376
  • Apr 10, 2007 12:37pm Apr 10, 2007 12:37pm
I am currently eyeballing USDCHF, well, to be honest, the right moment seems to be 30 pips away, but look how the price bounced off of the bottom channel support, let's see what happens.
I also have to add, that it is not MACD confirmed at the moment..
  • #3,377
  • Apr 10, 2007 2:24pm Apr 10, 2007 2:24pm
Quite correct Twoeleven my trade was a luck in the sense one it did not rely on the MACD signal just candles( tweezers) and trendlines( acting as resistance) I dont count the trade as a sucess because i want to trade for a long time and that means Phils system and not discretionary trades like the one i made

Ive put on 4 more trades at just shy of 20.00GMT today using Phils system on my demo game account Lets see how they fare!

They are Long USD/CAD and USD/CHF and Short EUR/USD and EUR/GBP.
  • #3,378
  • Edited 4:07pm Apr 10, 2007 2:52pm | Edited 4:07pm
They are Long USD/CAD and USD/CHF and Short EUR/USD and EUR/GBP.
IMHO:
Long USD/CAD - counter-trend, continuation more likely
Long USD/CHF - agree, but there is no H4 confirmation on GMT candles yet.
Short EUR/USD - no H4 signal at all
Short EUR/GBP - counter-trend, a single bearish candle cannot be a signal of reversal/correction.
http://forexbarometer.com/graph/usd-chf-070410.gif
For now I see only the AUD/NZD H4 signal that is relatively reliable but don't trade this because of large 11 pips spread for this pair.
Ben
  • #3,379
  • Apr 10, 2007 3:12pm Apr 10, 2007 3:12pm
I like that indicator you have showing all the macd snapshots. Is the link somewhere in this thread?
Oh yeah here is what fueled the move yesterday!
http://www.bloomberg.com/apps/news?p...Ntw&refer=home
  • #3,380
  • Apr 10, 2007 3:24pm Apr 10, 2007 3:24pm
Quoting AriTron
Quite correct Twoeleven my trade was a luck in the sense one it did not rely on the MACD signal just candles( tweezers) and trendlines( acting as resistance) I dont count the trade as a sucess because i want to trade for a long time and that means Phils system and not discretionary trades like the one i made

Ive put on 4 more trades at just shy of 20.00GMT today using Phils system on my demo game account Lets see how they fare!

They are Long USD/CAD and USD/CHF and Short EUR/USD and EUR/GBP.
Those look like descent trades in my opinion. Except, eur/gbp(not familiar with that pair or looking at the charts). As mentioned earlier, usd/cad is countertrend so don't look for a big gain. same with eur/usd. All the best!
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