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4 Hour Strategy (MACD)

  • #20,181
  • Jun 24, 2009 6:28am Jun 24, 2009 6:28am
I have taken the the trade i mentioned earliar in GBPUSD.

as i was posting the trade TP hit.
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  • #20,182
  • Jun 24, 2009 9:26am Jun 24, 2009 9:26am
Afternoon All,

Sorry I haven't posted for a few days, been really busy with other things. I took the the Long signal on the EUR/USD which I came out of earlier,

Entry @ 1.3935

TP: 1.4030 zone (Primary) 1.4117 (Secondary)

SL:1.3786

The exit to this trade was a little annoying, mist my secondary target by a few pips, but the time i got out it had backed off to 1.4091

+ 156 pips

I will be posting a video review to this trade later today! Please keep the comments and rates coming

Cheers WG
  • #20,183
  • Jun 24, 2009 10:25am Jun 24, 2009 10:25am
Eur/Usd

there is a fed announcement today so lets be cautious. As far as price, this pair seems to have come out of consolidation phase and the bias is to the long as I see our friend Welshguy has already made those pips. I did not enter as I wanted to see if price closes outside of the triangle with merit and it did. It also broke above the 1.40000 price level which has two significant levels.
1)the psychological price barrier
2)It is the last of the 3 sisters as seen on the chart
3)the 89sma happen to sit around that level as well

Price broke this key level as seen on the chart and has since come back to test that level which and has found support which could be a start of a nice trend to the long side. Of course we have to be cautious when there is fed announcements coming out but I will be looking for a TC on the MACD off of the 8 or 21 here.

Great trade Welshguy, you caught the run early to bag some nice pips.
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Keeping Life Simple
  • #20,184
  • Jun 24, 2009 12:30pm Jun 24, 2009 12:30pm
I have one problem with the MACD.color indicator. I have added the indicator in MT4 , but the level lines gather arroun 0 every time i restart MT4. I reset them evey time, from 15 to 150....30 to 300.. etc. Can you help me?
  • #20,185
  • Jun 24, 2009 12:40pm Jun 24, 2009 12:40pm
Quoting reborns
I have one problem with the MACD.color indicator. I have added the indicator in MT4 , but the level lines gather arroun 0 every time i restart MT4. I reset them evey time, from 15 to 150....30 to 300.. etc. Can you help me?
if your broker gives 5 decimals you need to set to 150-300-450,
  • #20,186
  • Jun 24, 2009 12:55pm Jun 24, 2009 12:55pm
Quoting nasir.khan
if your broker gives 5 decimals you need to set to 150-300-450,
sorry did not read your post carefully

right click on the indicator> click on modify

and add a 0 to all the levels.
  • #20,187
  • Jun 24, 2009 1:15pm Jun 24, 2009 1:15pm
Quoting reborns
I have one problem with the MACD.color indicator. I have added the indicator in MT4 , but the level lines gather arroun 0 every time i restart MT4. I reset them evey time, from 15 to 150....30 to 300.. etc. Can you help me?
You should use Colored MACD V.06, You could find it within the last 10 pages (from this page) of this thread.

If you are new for this strategy, note that this method is based on the assumption that the market is in a strong trend. Unfortunately the market is not in a strong trend right now for a lot of currency pairs, so you need to be really careful.

David
  • #20,188
  • Jun 24, 2009 3:08pm Jun 24, 2009 3:08pm
EU

EP: 1.4023 (start of candle)
TP: 1st target : 21MA 1.3965 2nd target: 200MA 1.3895
SL: High of previous candle 1.4116

Enter because : MACD showing downwards move, with bearish divergence and the very bearish candle which closes within the Bollinger band. I entered late at the 1.4014 (start of the next candle), and i put a TS and went to sleep and missed the actual move to the 200ma!

predicted EU movement next: support at 200MA, follow by a move up again
  • #20,189
  • Edited 8:39pm Jun 24, 2009 8:05pm | Edited 8:39pm
Guys,

From the chart patterns, it seems to me that, at this point, the following 4 pairs are more suitable for
4H MACD strategy than some of the major pairs this thread used to focus on.

What do you think ?

AUDCAD
EURCAD
GBPCHF
GBPCAD

David
  • #20,190
  • Jun 25, 2009 1:43am Jun 25, 2009 1:43am
I took this trade price retraced from 38.6% and there's resistance of 8-21 MA's and Macd also came down from Zero line.

Target would be around 38.6% Expansion London is about to open also.
Attached Image (click to enlarge)
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  • #20,191
  • Jun 25, 2009 3:04am Jun 25, 2009 3:04am
Quoting nasir.khan
I took this trade price retraced from 38.6% and there's resistance of 8-21 MA's and Macd also came down from Zero line.

Target would be around 38.6% Expansion London is about to open also.
Closed the trade at 1.6384-89

+60 pips.
  • #20,192
  • Jun 25, 2009 6:22am Jun 25, 2009 6:22am
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  • #20,193
  • Jun 25, 2009 6:48am Jun 25, 2009 6:48am
Quoting ssq
Attachment
In my opioion now, I have a bullish view.
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Plan your trades and trade your plans
  • #20,194
  • Jun 25, 2009 7:25am Jun 25, 2009 7:25am
Quoting saka
In my opioion now, I have a bullish view.
u can try long with sl below the 1.3888
  • #20,195
  • Jun 25, 2009 7:46am Jun 25, 2009 7:46am
Quoting yuan83
u can try long with sl below the 1.3888
You should wait and be patient, wait for a best setup a do the thing without doubts.

Suba
  • #20,196
  • Jun 25, 2009 8:04am Jun 25, 2009 8:04am
Quoting Suba
You should wait and be patient, wait for a best setup a do the thing without doubts.

Suba

yeah u are right, seriously i have no idea where e pair will be moving! all e MAs are stuck there. Actually it all looks like moving in range
  • #20,197
  • Jun 25, 2009 8:20am Jun 25, 2009 8:20am

i think i should wait.
can you give me your telephone number???

  • #20,198
  • Edited 9:06am Jun 25, 2009 8:31am | Edited 9:06am
I'm in long on EURUSD.
Reasons are avaible on the pictures.
I was in on the first green 5m MACD signal, it looks like bullish engulfing patern.
I have always two trades, one is for cover lose from second (TP1 = SL).
Couple seconds ago TP from first order was hit so my second trade is secure now
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  • #20,199
  • Edited 9:56am Jun 25, 2009 9:07am | Edited 9:56am
I close my position when price hit 61.8 fibonaci lvl.
TP1 10pips
TP2 35pips

Reason, there is too many MA's on 1h and 4h chart.

Open reason: too many eyes waiting for this bounce from 200SMA, trend line and fibo line (all on 4h chart), that why I use 5min chart.


Edited later:
That was good decision cause price comes back rapidly below open price
  • #20,200
  • Jun 25, 2009 9:25am Jun 25, 2009 9:25am
Quoting yuan83
yeah u are right, seriously i have no idea where e pair will be moving! all e MAs are stuck there. Actually it all looks like moving in range
on retrospect this move might have earn u a 40pips to 1st MA, might not be a bad move considering SL is small, but ok I have digress from this system
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