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4 Hour Strategy (MACD)

  • #20,241
  • Jun 30, 2009 12:17pm Jun 30, 2009 12:17pm
Quoting jinsen
hi all,

Those who make long trade on eurusd earlier should have
make 50-70pips and put trade at breakeven.

I plan this trade to break through and test and then make long long.

Welll, i think this is a false breakout.

hi yuan,

Nice job to spot on the divergence.

I guess its waiting time again
nah i did see the divergence coming but it is on hindsight I say this. I would have expect the shooting star candle (i think) to be the end of the uprun, but well it lasted another candle. But I will say this divergence is "spotable".
  • #20,242
  • Edited 3:12pm Jun 30, 2009 3:00pm | Edited 3:12pm
I took this trade, just now, reasons are in the chart, TP and St too. please see and say what you think about this.

Thank´s
Suba

P.S. It´s a 1 hr chart.

http://img37.imageshack.us/img37/2568/imagem30062.png
  • #20,243
  • Jun 30, 2009 4:41pm Jun 30, 2009 4:41pm
It looks like there is a change for long position.

My thought is that you may have entered too early and may face another down cycle before price go up.

Reason: (USA pacific time)

1. My observation is that market volume will not pick up until 5pm, (current time is 2:30pm)

2. My experience with stochastic indicates that the up trend will not start until the long term stochastic shows buy signal if the MACD has been dragged way low in the negative zone by the previous trend.

Attached Image (click to enlarge)
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David
  • #20,244
  • Jun 30, 2009 4:59pm Jun 30, 2009 4:59pm
I was not feeling comfortable so I closed the trade at B.E., minutes ago.

David I could not enter early...there is no signal on MACD.

Thank´s for the comments David
  • #20,245
  • Jun 30, 2009 7:53pm Jun 30, 2009 7:53pm
Quoting yuan83
nah i did see the divergence coming but it is on hindsight I say this. I would have expect the shooting star candle (i think) to be the end of the uprun, but well it lasted another candle. But I will say this divergence is "spotable".
I backtest on the divergence on the 4h. It does cause a certain damage or trend reversal.

I think i didnt have the diveregence lookout on one of my rules.
Need to add in.
  • #20,246
  • Edited 8:41pm Jun 30, 2009 8:30pm | Edited 8:41pm
US dollar is rising across the board, not sure why ?

I would like to see buy signal on MACD and long term stochastic before entering long position.

Attached Image (click to enlarge)
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David
  • #20,247
  • Jun 30, 2009 8:50pm Jun 30, 2009 8:50pm
Quoting davidwu61
US dollar is rising across the board, not sure why ?

I would like to see buy signal on MACD and long term stochastic before entering long position.

Attachment


David
cos there was news just now .yen is weakening throughout though
  • #20,248
  • Jun 30, 2009 8:50pm Jun 30, 2009 8:50pm
WEDNESDAY, 01 JULY 2009 01:11:11 GMT
Printer Friendly | Email Article | RSS | Previous articles
Written by Luis Gil, DailyFX Research

The U.S. Dollar rallied after a report showed that China's PMI Manufacturing rose for a fourth straight month in June to 53.2 vs 53.1. Against the Japanese Yen, the currency rallied over 35 pips within seconds of the release of the news. The news may have sparked speculation that a recovering U.S. economy may be floating around the corner. In fact, New Export Orders for China, according to the PMI, rose 2.6% in June. Since the U.S. is China's largest buyer of exports, this may have signaled that American consumption from abroad may have increased in the month. Such developments could buoy interest rate expectations as demand pressure boosts the inflation outlook within the U.S.

David
  • #20,249
  • Jul 1, 2009 2:36am Jul 1, 2009 2:36am
Today I smell lot of pips.

Possible ZB setup on EUR/USD and USD/CHF. USD/JPY and EUR/JPY possible formation of strong up trend.

If today's news are good for USD and USD goes long then sky is the limit.

See you around.

P.S. Don't listen me, I'm new here and have no clue what I'm talking about.
  • #20,250
  • Jul 1, 2009 2:59am Jul 1, 2009 2:59am
Good Morning All,

Sorry I havent posted for a while, have been really busy with work commitments. From the way things are at the moment, we are still in a period of consolidation (4 wave).

You must change your entry style slightly to reflect the type of market we are currently in, I will upload a video later today / tomorrow (lesson 4) which explains ranging markets and how to use the system in them.

If you want anything explained in the video, then please let me know via pm or email of the questions and i'll try and answer them when creating the video later today!

Hope everyone is well

Cheers WG
  • #20,251
  • Jul 1, 2009 5:56am Jul 1, 2009 5:56am
Hello everyone i was busy due to some office work. Now EurUsd is forming a TC in 1H and a ZB in 4H.

IF current 1h close green it would be a long.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1h.gif Size: 41 KB
  • #20,252
  • Edited 6:15am Jul 1, 2009 6:03am | Edited 6:15am
Quoting nasir.khan
Hello everyone i was busy due to some office work. Now EurUsd is forming a TC in 1H and a ZB in 4H.

IF current 1h close green it would be a long.
OK GBPUSD closed green and i am going long.

Entery: 1.6438
SL : 1.6395
TP : 1.6490
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 1h.gif Size: 34 KB
  • #20,253
  • Jul 1, 2009 9:00am Jul 1, 2009 9:00am
Closed GBP at BE and Gained 60 pips in EURO.
  • #20,254
  • Jul 1, 2009 10:25am Jul 1, 2009 10:25am
Hi welsh,

Need your opinion again. Did you take the trade on the eurusd as displayed on my chart. My entry is on that opening of that candle as indicated by the small red arrow.

Stoploss is the red box and profit target is the green box.
My plan is to secured some profit at 1.4000 and the rest at breakeven.
I anticipate for this trade to breakout to test 1.4200 or maybe the monthly resistance line(black line).

Q1) Any reasons or something that maybe stop you from taking this tc trade?

Q2) Awaiting your video on the ranging market. Is trading ranging market = trending breakout using 4hr macd? is that what ur video be showing? showing us to trade breakout.

cant wait to see
Attached Image (click to enlarge)
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  • #20,255
  • Jul 1, 2009 5:14pm Jul 1, 2009 5:14pm
Quoting nasir.khan
Closed GBP at BE and Gained 60 pips in EURO.
Great trades I was watching GU and I thought your TP on GU got hit too. What happened ?
  • #20,256
  • Edited 5:54pm Jul 1, 2009 5:29pm | Edited 5:54pm
Just a reminder that we have NFP tomorrow on Thursday. Don't forget to close your trades before NFP.
  • #20,257
  • Jul 1, 2009 5:43pm Jul 1, 2009 5:43pm
Quoting jinsen
Hi welsh,

Stoploss is the red box and profit target is the green box.
My plan is to secured some profit at 1.4000 and the rest at breakeven.
I anticipate for this trade to breakout to test 1.4200 or maybe the monthly resistance line(black line).
Jinsen, I hope you banked lots of pips.
  • #20,258
  • Edited 6:02pm Jul 1, 2009 5:44pm | Edited 6:02pm
Quoting welshguy2000
Good Morning All,

Sorry I havent posted for a while, have been really busy with work commitments. From the way things are at the moment, we are still in a period of consolidation (4 wave).

You must change your entry style slightly to reflect the type of market we are currently in, I will upload a video later today / tomorrow (lesson 4) which explains ranging markets and how to use the system in them.

If you want anything explained in the video, then please let me know via pm or email of the questions and i'll try and answer them when creating...
Looking forwards to your video. Thanks WG.
  • #20,259
  • Jul 1, 2009 8:37pm Jul 1, 2009 8:37pm
Hey guys, anyone else know about this or is this just with my broker? how do you not let traders place stop loss or limit orders what the .........

A major new National Futures Association (NFA) rule goes into effect on August 1, 2009. This rule affects all U.S. regulated Forex Dealer Members. Forex traders will no longer have the ability to place stop-loss or limit orders. Nor will traders be able to modify or close trades from the “Open Positions” window. As these features will be removed, all stop-loss and limit orders held on FXCM LLC accounts at the close of trading on July 31, 2009, will be deleted.
Keeping Life Simple
  • #20,260
  • Edited 9:56pm Jul 1, 2009 9:44pm | Edited 9:56pm
Quoting time1300
Hey guys, anyone else know about this or is this just with my broker? how do you not let traders place stop loss or limit orders what the .........

A major new National Futures Association (NFA) rule goes into effect on August 1, 2009. This rule affects all U.S. regulated Forex Dealer Members. Forex traders will no longer have the ability to place stop-loss or limit orders. Nor will traders be able to modify or close trades from the “Open Positions” window. As these features will be removed, all stop-loss and limit orders held...
There is a new thread on this :
http://www.forexfactory.com/showthread.php?p=2705617

It seems that the alternative suggested by your broker is to transfer your account to the UK branch. I have an account with their Australian branch here and it still allows hedging.
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