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4 Hour Strategy (MACD)

  • #20,081
  • Jun 15, 2009 5:36pm Jun 15, 2009 5:36pm
Quoting welshguy2000
Evening all,

I have been keeping a close eye on the GBP/USD over today, alot of people are bullish about the near term however the candles in my opinion do NOT agree, here are the reasons for entering the trade:

1) 4H close below previous support at the 1.6290 zone.
2) 4H shooting star formation (almost a mini evening star) showing lack of momentum.
3) 1D has placed a lower high and double top, together with the 8EMA flatting off.
4) 1H showing a lower high and lower low, which indicates lack of buying momentum & rhythm.

Entry @...
nice trade. anw on daily tf, it is showing bearish divergence, and weekly tf it is ticking down, all pointing to a short
  • #20,082
  • Jun 15, 2009 6:12pm Jun 15, 2009 6:12pm
Quoting yuan83
nice trade. anw on daily tf, it is showing bearish divergence, and weekly tf it is ticking down, all pointing to a short
Good analysis Yuan. It didn't take you long to understand divergences.
  • #20,083
  • Edited Jun 16, 2009 1:15am Jun 15, 2009 7:38pm | Edited Jun 16, 2009 1:15am
The head and shoulders on EU is now almost complete and the rhythm is back in the market with the 8 EMA first followed by the 21 EMA, then by the 50 SMA and the 89 SMA. The trend is now to the downside.
Right now the price is far away from the 8 EMA so better to wait for a catchup before looking for a TC to the downside.
Attached Image (click to enlarge)
Click to Enlarge Name: eu4hr.gif Size: 33 KB
  • #20,084
  • Jun 15, 2009 10:41pm Jun 15, 2009 10:41pm
Quoting xeneric
The head and shoulders on EU is now complete and the rhythm is back in the market with the 8 EMA first followed by the 21 EMA, then by the 50 SMA and the 89 SMA. The trend is now to the downside.
Right now the price is far away from the 8 EMA so better to wait for a catchup before looking for a TC to the downside.
gd try. i also placed a pending between 8 and 21ma. let's see what happens
  • #20,085
  • Jun 15, 2009 11:52pm Jun 15, 2009 11:52pm
Quoting xeneric
The head and shoulders on EU is now complete and the rhythm is back in the market with the 8 EMA first followed by the 21 EMA, then by the 50 SMA and the 89 SMA. The trend is now to the downside.
Right now the price is far away from the 8 EMA so better to wait for a catchup before looking for a TC to the downside.
Overall it appears that the USD is gaining strength. GU and AU have both formed double tops.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au4hr.gif Size: 28 KB
Click to Enlarge Name: gu4hr.gif Size: 29 KB
  • #20,086
  • Jun 16, 2009 3:39am Jun 16, 2009 3:39am
Quoting xeneric
Overall it appears that the USD is gaining strength. GU and AU have both formed double tops.
Hi Xeneric, good job. Are you agree with me that this month there was no one good TC signal on 4h, cause candles was to high or to far from 8EMA?
  • #20,087
  • Jun 16, 2009 4:03am Jun 16, 2009 4:03am
Quoting welshguy2000
Evening all,

Entry @ 1.6296
TP: 1.6140 zone (From daily & 21EMA on Daily)
Sl: 1.6415

I will post a video reviewing this trade when its over.

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

Cheers WG
Came out of this early this morning for: 0 pips

Exit was due to the higher high on the 5min chart - which I will explain in the video review later.

Cheers WG
  • #20,088
  • Jun 16, 2009 5:07am Jun 16, 2009 5:07am
Quoting welshguy2000
Came out of this early this morning for: 0 pips

Exit was due to the higher high on the 5min chart - which I will explain in the video review later.

Cheers WG
nice move. actually there was a bullish div on h4. how did i miss that
  • #20,089
  • Jun 16, 2009 6:19pm Jun 16, 2009 6:19pm
Sell 0.2 slot eurusd the price is now at the neck line,so I go out .+55+59/2=57pips
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  • #20,090
  • Jun 16, 2009 9:27pm Jun 16, 2009 9:27pm
anyone has any views on the possible movement of pound usd?
  • #20,091
  • Jun 17, 2009 5:36am Jun 17, 2009 5:36am
Quoting Kamil2079
Hi Xeneric, good job. Are you agree with me that this month there was no one good TC signal on 4h, cause candles was to high or to far from 8EMA?
Yes, very few TCs on the 4 hr this month.
  • #20,092
  • Edited 7:05am Jun 17, 2009 6:04am | Edited 7:05am
Took a short on GU after the second bounce off resistance on the 4 hr. On the 1 hr, there was a very bearish engulfing signal candle which engulfed 3 candles.


Stop 1.6485
Entry 1.6422
TP1 1.6285 already hit with half
Closed other half early at 1.6265

137+157 /2 = 147 pips

The 4 hr chart shows the second bounce off resistance and the 1 hr chart shows the bearish engulfing signal candle.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu4hr.gif Size: 29 KB
Click to Enlarge Name: gu1hr.gif Size: 27 KB
  • #20,093
  • Jun 17, 2009 6:12am Jun 17, 2009 6:12am
Quoting xeneric
Took a short on GU after the second bounce off resistance on the 4 hr. On the 1 hr, there was a very bearish engulfing signal candle which engulfed 3 candles.


Stop 1.6485
Entry 1.6422
TP1 1.6285 already hit with half
Closed other half early at 1.6265

137+157 /2 = 147 pips

The 4 hr chart shows the second bounce off resistance and the 1 hr chart which is only recent shows the bearish engulfing signal candle.
Nice trade But what signal on macd did u traded.

there was a 0 line signal on 1h i think.
  • #20,094
  • Jun 17, 2009 6:21am Jun 17, 2009 6:21am
Quoting nasir.khan
Nice trade But what signal on macd did u traded.

there was a 0 line signal on 1h i think.
Good point. Technically, it could be classified as a ZB TC on the 4 hr chart - even though the ZB is a little wide.
ZB stands for Zero Break.
  • #20,095
  • Jun 17, 2009 6:54am Jun 17, 2009 6:54am
There is a TC on the 4hr EU chart now. Price bounced off the 21 EMA for the 2nd time in 2 days.
Attached Image
  • #20,096
  • Jun 17, 2009 7:03am Jun 17, 2009 7:03am
ok here's a suggestion and want the opinion of all the members and seniors especially:

i think we should wide these 15,30,45 levels here is the chart of EU and GU when this thread was started.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 4h.gif Size: 38 KB
Click to Enlarge Name: eurusd4h.gif Size: 30 KB
  • #20,097
  • Jun 17, 2009 7:05am Jun 17, 2009 7:05am
and look now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 4h.gif Size: 38 KB
Click to Enlarge Name: eurusd4h.gif Size: 36 KB
  • #20,098
  • Jun 17, 2009 10:33am Jun 17, 2009 10:33am
nice moves but actually just curious to ask, it seems like nobody like to post their trades when it is on the go, but instead post when its closed?

and surely someone has some losing trades which we can learn from?
  • #20,099
  • Jun 17, 2009 11:56am Jun 17, 2009 11:56am
Evening all,

I have just uploaded the new lesson on money management.

please comment / ask questions - hopefully this video answers most of your questions

Inserted Video


Cheers WG
  • #20,100
  • Jun 17, 2009 12:44pm Jun 17, 2009 12:44pm
Quoting welshguy2000
Evening all,

I have just uploaded the new lesson on money management.

please comment / ask questions - hopefully this video answers most of your questions

http://www.youtube.com/watch?v=iPc5qm9B5LA

Cheers WG
I'll check it out, Thanks

Spike
Will, Knowledge, Discipline, And tenacity=Success
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