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4 Hour Strategy (MACD)

  • #20,021
  • Jun 9, 2009 6:21pm Jun 9, 2009 6:21pm
Quoting nasir.khan
Lookout for RT in GU,
i would be careful that 1hr bar looks like it may be the hour where the forex market falls asleep going from the end of one day to the start of the next, however i may be wrong.....
Grabbing the bull by the horns!
  • #20,022
  • Jun 9, 2009 10:46pm Jun 9, 2009 10:46pm
Quoting whitegoodman
i would be careful that 1hr bar looks like it may be the hour where the forex market falls asleep going from the end of one day to the start of the next, however i may be wrong.....
You Were right After London close market falls asleep.
  • #20,023
  • Jun 10, 2009 12:59am Jun 10, 2009 12:59am
Here is the trade i took just now. price was just sailing on 8 EMA and Macd gave the signal.
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  • #20,024
  • Jun 10, 2009 7:16am Jun 10, 2009 7:16am
Hi

I downloaded MACD Colored 103 and 104. I thin I have a problem in the display in the center lines, as per attached image. Can someone assist?

TQ
fxpip8
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  • #20,025
  • Jun 10, 2009 7:26am Jun 10, 2009 7:26am
If you're using Alpari, that means you have 5-decimal prices, so those 15,30,45 etc. levels on MACD should be 150, 300, 450 etc. You can download the 5-decimal version of the indicator from here.

Just click on the second image with the MACD.
  • #20,026
  • Jun 10, 2009 9:42am Jun 10, 2009 9:42am
Hi Maru

Gr8. It's working now. TQ.

fxpip8
  • #20,027
  • Jun 10, 2009 10:20am Jun 10, 2009 10:20am
buy eurusd 0.2slot,first 0.1slot gets +25pips,so i set the other 0.1 slot's stop loss as -25pips,but today i cann't open my computer for the power problem,so i was stopped out,get 0 pips.......
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any comment was appriciated!!!
  • #20,028
  • Edited Jun 11, 2009 9:25am Jun 10, 2009 10:39am | Edited Jun 11, 2009 9:25am
Afternoon all,

Its been a while since my last trade, I haven't felt like there has been a clear cut high probability trade. I've just gone short (I see the short term trend as down, therefore class this as a TC) on the EUR/USD reasons being:

1) Bearish engulfing shooting star formation close on the 4H, failing to close above the 50% retracement line (from daily timeframe - shown in yellow on chart image).
2) Price action failed to close above the 1.4117 level together with candles showing a lack of upward momentum.
3) Price has now placed in a lower high on the 4H something which it has not done in some time.
4) 8EMA failed to take control on the 1D, therefore shows that the strong bearish candle on (05/06/09) is still in control and therefore we can expect a bigger retrace than 23.6 from the larger upmove. (will explain this on the video)

Entry @ 1.4030
TP: 1.3940 (primary) 1.3860 (secondary)
Sl: 1.4210

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

Please support my youtube channel by rating / commenting on the the video's:

http://www.youtube.com/sionsmith
Attached Image (click to enlarge)
Click to Enlarge Name: eur4h(10-06-09).gif Size: 24 KB
  • #20,029
  • Jun 10, 2009 12:10pm Jun 10, 2009 12:10pm
Great videos by the way, very helpful. I was trying (prematurely) to get in on a short last night thinking the TL would hold and we'd see a sHs but didn't happen. I'm going to wait for a a slight retrace back to TL and get in.

It worked for you but I would have been a bit nervous with the bunching of the MA and the TL. Too conservative.

PS. You recommended a good candle book before, was that Beyond Candlestick by Steve Nisen?

thanks, Kieran

Quoting welshguy2000
Afternoon all,

Its been a while since my last trade, I haven't felt like there has been a clear cut high probability trade. I've just gone short (I see the short term trend as down, therefore class this as a TC) on the EUR/USD reasons being:

1) Bearish englufing shotting star formation close on the 4H, failing to close above the 50% retracement line (from daily timeframe - shown in yellow on chart image).
2) Price action failed to close above the 1.4117 level together with candles showing a lack of upward momentum.
3) Price has now placed...
  • #20,030
  • Jun 10, 2009 1:03pm Jun 10, 2009 1:03pm
keister welcome to the forum. FF and this thread has changed me altogether the way i observe the price, attitude towards trading, getting in a trade and out and many more things that would have took me several months or years(and a couple of GRANDS) to learn. HOPE IT WORKS FOR YOU.
  • #20,031
  • Jun 10, 2009 1:07pm Jun 10, 2009 1:07pm
thanks. I've been lurking around here for a long time, but it's a great place to learn when you're starting out.




Quoting nasir.khan
keister welcome to the forum. FF and this thread has changed me altogether the way i observe the price, attitude towards trading, getting in a trade and out and many more things that would have took me several months or years(and a couple of GRANDS) to learn. HOPE IT WORKS FOR YOU.
  • #20,032
  • Jun 10, 2009 1:20pm Jun 10, 2009 1:20pm
Quoting keister
thanks. I've been lurking around here for a long time, but it's a great place to learn when you're starting out.
Believe me didn't saw that "Member Since Nov 2007".
  • #20,033
  • Jun 10, 2009 5:02pm Jun 10, 2009 5:02pm
Quoting welshguy2000
Afternoon all,

Its been a while since my last trade, I haven't felt like there has been a clear cut high probability trade. I've just gone short (I see the short term trend as down, therefore class this as a TC) on the EUR/USD reasons being:


Entry @ 1.4030
TP: 1.3940 (primary) 1.3860 (secondary)
Sl: 1.4210

Please support my youtube channel by rating / commenting on the the video's:

http://www.youtube.com/sionsmith
My primary target was hit, i'm out at 1.3940 +90 pips

I will be uploading the video review to this trade tomorrow.

Cheers WG
  • #20,034
  • Jun 10, 2009 5:27pm Jun 10, 2009 5:27pm
gracias
Marco from Spain
  • #20,035
  • Edited 7:53pm Jun 10, 2009 7:03pm | Edited 7:53pm
Quoting welshguy2000
Morning all,

I've just recorded the lesson 3 which will be all about money management / risk, stop losses and how to figure out when your trade is wrong - I will be uploading later today so please subscribe to my channel to receive an email of when it is live

http://www.youtube.com/user/sionsmith

Cheers WG
WG, I can't find your video on money management. Thanks.
  • #20,036
  • Edited 7:44pm Jun 10, 2009 7:13pm | Edited 7:44pm
Quoting nasir.khan
keister welcome to the forum. FF and this thread has changed me altogether the way i observe the price, attitude towards trading, getting in a trade and out and many more things that would have took me several months or years(and a couple of GRANDS) to learn. HOPE IT WORKS FOR YOU.
Nasir, what you said was very nice and there isn't anyone on this thread who would disagree with what you said. It changed the way I traded too.
  • #20,037
  • Jun 10, 2009 7:20pm Jun 10, 2009 7:20pm
Quoting giotto
Actually it was. Idea was good, rhythm was there, but due NFP volatility his SL was triggered easily.
Yes agree. The direction was correct but as usual with NFP, volatility will take out the stops. I noticed that WG took that trade after NFP was released and has made a video. I guess he didn't mention it here because it is a news trade.
  • #20,038
  • Jun 10, 2009 7:53pm Jun 10, 2009 7:53pm
Quoting Marubozu
If you're using Alpari, that means you have 5-decimal prices, so those 15,30,45 etc. levels on MACD should be 150, 300, 450 etc. You can download the 5-decimal version of the indicator from here.

Just click on the second image with the MACD.
Marubozu, how do u get the website to appear when people click on "here" ? Thanks.
  • #20,039
  • Jun 10, 2009 9:18pm Jun 10, 2009 9:18pm
It looks like a Head and Shoulders may be forming on the 4 hr. This is different from the one that Nassir pointed out last week which has now become part of the head - if you don't understand, see chart.
This is a dangerous time to trade because there is no clear direction.
Attached Image (click to enlarge)
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  • #20,040
  • Jun 11, 2009 12:00am Jun 11, 2009 12:00am
i took the trade on EU.

1-on 4h its showing returning from zero level.

2-Jumped at 61% retracement.

3-and also trendline.

4- Price sliding on 8-21 ema's exactly like yesterday.
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