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4 Hour Strategy (MACD)

  • #19,921
  • May 31, 2009 5:15am May 31, 2009 5:15am
Friday seen some really good trading opportunities, I was unfortunately unable to trade which is quite annoying. If i had been able to trade, I think I would have taken the TC on the GBP as the daily showed more potential & momentum.

I will be posting the review of my GBP/USD trade together with lesson 3 later today, subscribe to the channel to receive updates.

Cheers WG
  • #19,922
  • May 31, 2009 5:38am May 31, 2009 5:38am
Quoting welshguy2000
Friday seen some really good trading opportunities, I was unfortunately unable to trade which is quite annoying. If i had been able to trade, I think I would have taken the TC on the GBP as the daily showed more potential & momentum.

I will be posting the review of my GBP/USD trade together with lesson 3 later today, subscribe to the channel to receive updates.

Cheers WG
already favourited keep it up...
Grabbing the bull by the horns!
  • #19,923
  • Edited 12:35am Jun 1, 2009 12:25am | Edited 12:35am
just wondering, does pound yen looks like it is going to continue with its uptrend since MACD turns green? somemore the previous tails testing the 21 EMA shows strong support there already
  • #19,924
  • Jun 1, 2009 12:41am Jun 1, 2009 12:41am
Quoting yuan83
just wondering, does pound yen looks like it is going to continue with its uptrend since MACD turns green? somemore the previous tails testing the 21 EMA shows strong support there already
This strategy is mainly for EU and GU. That's not to say that it won't sometimes work for other pairs but it is not so reliable. You need to do some backtesting for yourself if you want to use it on another pair.
  • #19,925
  • Jun 1, 2009 4:11am Jun 1, 2009 4:11am
Quoting xeneric
This strategy is mainly for EU and GU. That's not to say that it won't sometimes work for other pairs but it is not so reliable. You need to do some backtesting for yourself if you want to use it on another pair.
Well said,

I have looked at other pairs but also found best on EU and cable.

I use it on the $/Y as very liquid. I looked at other yen pairs but found the tails leave R:R shot.

Yuan83 the cable is wild enough with out having to look at the G/Y if I can advise you master the cable then look at the low liquid crosses.

Believe me the cable will keep u very busy and on your toes!

It's so mean I don't trade it!

cheers.

Had a long on euro 1 hour on the break out this London open. Manuel close for 36 pips.

cheers
  • #19,926
  • Jun 1, 2009 5:31am Jun 1, 2009 5:31am
Morning all

Just gone long on the EUR/USD as price action is showing strong bullish momentum, reasons for the trade are as follows.:

1) Extremely aggressive close of a bullish belt holding candle on the 4H above a lot of previous resistance.
2) Price action has found support off 8EMA.
3) Price closed above 121.3 extension fib
4) 4H candle closed above Box range / consolidation period.
5) Momentum and rhythm is extremely strong on the 1D / weekly / 4H close about the 76.4 retracement on 1D and therefore would expect test of the December highs at 1.4700)


Entry @ 1.4236
TP: 1.4290 (primary) 1.4500 / 1.4700 (secondary)
Sl: 1.4057

I will post a video reviewing this trade tomorrow - in the mean time please take a look at the attached image.

To receive updates of my videos please subscribe to my channel in my signature or check out the system lessons:
http://www.youtube.com/view_play_lis...D011E4CAA99A8B
Attached Image (click to enlarge)
Click to Enlarge Name: eur4h(01-06-09).gif Size: 20 KB
  • #19,927
  • Jun 1, 2009 6:10am Jun 1, 2009 6:10am
Just noticed 76.4 fib level instead of the common 78.6 level. I was thinking of using it too, since I noticed price tends to find support below the 78.6, which most of the time coincides with 76.4...
  • #19,928
  • Jun 1, 2009 6:37am Jun 1, 2009 6:37am
Quoting Marubozu
Just noticed 76.4 fib level instead of the common 78.6 level. I was thinking of using it too, since I noticed price tends to find support below the 78.6, which most of the time coincides with 76.4...
Thats a good point, I've noticed that my fib level might be incorrect!! I'm going to check this and get back to you.

Cheers wg
  • #19,929
  • Jun 1, 2009 6:41am Jun 1, 2009 6:41am
76.4 is also used, though not as often as 78.6. For now I'm with the crowd, using 78.6, but like I said, I noticed that it's a tad more accurate and also coincides with the 50% retracement of longer timeframes.

So I though that's why you use this level. I guess I was wrong.
  • #19,930
  • Jun 1, 2009 6:44am Jun 1, 2009 6:44am
Quoting welshguy2000
Morning all

Just gone long on the EUR/USD as price action is showing strong bullish momentum, reasons for the trade are as follows.:
WG, your top trendline is slightly different to mine.
Attached Image (click to enlarge)
Click to Enlarge Name: eu4hr.gif Size: 34 KB
  • #19,931
  • Jun 1, 2009 6:49am Jun 1, 2009 6:49am
Quoting xeneric
This strategy is mainly for EU and GU. That's not to say that it won't sometimes work for other pairs but it is not so reliable. You need to do some backtesting for yourself if you want to use it on another pair.

Quoting >Apocalypto<
Well said,

I have looked at other pairs but also found best on EU and cable.

I use it on the $/Y as very liquid. I looked at other yen pairs but found the tails leave R:R shot.

Yuan83 the cable is wild enough with out having to look at the G/Y if I can advise you master the cable then look at the low liquid crosses.

Believe me the cable will keep u very busy and on your toes!

It's so mean I don't trade it!

cheers.

Had a long on euro 1 hour on the break out this London open. Manuel close for 36 pips.

cheers

thanks for the advice!
  • #19,932
  • Jun 1, 2009 6:56am Jun 1, 2009 6:56am
Quoting xeneric
WG, your top trendline is slightly different to mine.
Same here. I have it drawn just like yours and I'm also using IBFX.
  • #19,933
  • Jun 1, 2009 7:41am Jun 1, 2009 7:41am
Quoting Marubozu
Same here. I have it drawn just like yours and I'm also using IBFX.
hmm I draw from the 1st high of the trend to the most recent high of the trend, hence also did not see t he breakout of WG
  • #19,934
  • Jun 1, 2009 10:49am Jun 1, 2009 10:49am
The current EUR USD, (1200 GMT +2), when I saw it, a doji was already formed. With the MACD showing down, i actually put a trade enter 1.4195, SL:1.4230 (2 pips of current candle high), TP: 1.4160 (above 8EMA). It did hit TP but wonder if it's advisable to do so?
  • #19,935
  • Jun 2, 2009 12:51am Jun 2, 2009 12:51am
I entered short on GBPUSD.

1-Macd oversold and also started going red in 4h.

2-Downwards TC in 1h.

3-Hit 365 EMA and Fibbo Extention of 150 on Daily.

4-Double Top on Macd in Daily.

Entry:1.6443

TP: First 8 EMA in 4h Second 21 EMA.

SL: 1.6506.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 1h.gif Size: 23 KB
Click to Enlarge Name: gbpusd 4h.gif Size: 22 KB
Click to Enlarge Name: gbpusd 1d.gif Size: 26 KB
  • #19,936
  • Jun 2, 2009 7:03am Jun 2, 2009 7:03am
Got my eye's on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4h.gif Size: 22 KB
  • #19,937
  • Jun 2, 2009 10:08am Jun 2, 2009 10:08am
Quoting welshguy2000
Right

i've decided to a long on the GBP/USD as price action is showing continued upward momentum. Here are the reasons why I have taken the trade:

Entry @ 1.5917
TP: 1.6020 (zone)
Sl: 1.5725


Cheers WG
Sorry its a little late, but I have just uploaded the video reviewing the GBP/USD TC signal I took on the 28/05/2009 which I took + 89 pips

Inserted Video


If you have any questions / comments please ask. Subscribe to the channel if you want to receive updates about when new videos are added.

Cheers WG
  • #19,938
  • Jun 2, 2009 10:29am Jun 2, 2009 10:29am
Quoting welshguy2000
Morning all

Just gone long on the EUR/USD as price action is showing strong bullish momentum, reasons for the trade are as follows.:

Entry @ 1.4236
TP: 1.4290 (primary) 1.4500 / 1.4700 (secondary)
Sl: 1.4057

To receive updates of my videos please subscribe to my channel in my signature or check out the system lessons:
http://www.youtube.com/view_play_lis...D011E4CAA99A8B
I have just taken profit on this trade @ 1.4300 + 64 pips

I will post a video review of this trade tomorrow.

Cheers WG
  • #19,939
  • Edited Jun 3, 2009 2:44am Jun 2, 2009 12:57pm | Edited Jun 3, 2009 2:44am
Here is a Real Big One (short) coming our way in EU.

1- Macd over Bought (corrected) in weekly, Daily,H4 and H1.

2- Price is near Trendline and 89 MA in weekly.

3- Double top in Macd on 1h, 4h and Daily.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 1h.gif Size: 21 KB
Click to Enlarge Name: eu 4h.gif Size: 20 KB
Click to Enlarge Name: eu d.gif Size: 21 KB
Click to Enlarge Name: eu wk.gif Size: 21 KB
  • #19,940
  • Jun 3, 2009 1:44am Jun 3, 2009 1:44am
Quoting nasir.khan
Here is a Real Big One (short) coming our way in EU.

1- Macd over sold in weekly, Daily,H4 and H1.

2- Price is near Trendline and 89 MA in weekly.

3- Double top in Macd on 1h, 4h and Daily.
Khan, i've no really clue what system you are trading here? We take on momentum trends when the market is in rhythm which are confirmed by candle patterns and the macd change of colour. Saying that the macd is over sold is not a valid reason to enter a trade. Hope that helps?

Cheers WG
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