You are right
I closed the ff calender yesterday after the Canadian Core CPI m/m and i did not had that mind.
BUT i guess we were right on our part.
4 Hour Strategy (MACD)
- #20,803
- Aug 20, 2009 5:37am Aug 20, 2009 5:37am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
perfect setup to go short
But becarfull with your TP's cause it's currently sitting at 61.8% and 365 EMA in 1H.
- #20,805
- Aug 20, 2009 8:00am Aug 20, 2009 8:00am
One more time a proof that Phillip's system work perfect in most of the time. While most of the technical experts in some pages provided technical analysis predict that usd/jpy will go long for today, on 4Hrs we have nice pull back from 21ema and the rhythm started again 2 days ago so I took it short. Too small I put my TP but I have no posibillity to watch it live. It was early entry/45 min before close of 4hrs candle/ and the reason to take it so early was 1hr macd supported TC,bouncing from 89ema.There was big enguilf short candle/making some kind of evening star with one spin candle in the middle/ and after short retrace of next one /38%fib/ I put the triger.
SL I put just behind 200sma and over main support line on 4hrs TF.
Ones again we have to look price action and to see first if we have rhytm or not and then to look on macd signal and for R:R.
SL 94.66
entry 94.34
TP 94.04
R:R OK
TC signals are with big confidence for succes.No matter for how much pips.The point is to follow the rules and to have the patience to wait for the right time.
Just my point of view for today trade posibility with early entry for TC signal.
SL I put just behind 200sma and over main support line on 4hrs TF.
Ones again we have to look price action and to see first if we have rhytm or not and then to look on macd signal and for R:R.
SL 94.66
entry 94.34
TP 94.04
R:R OK
TC signals are with big confidence for succes.No matter for how much pips.The point is to follow the rules and to have the patience to wait for the right time.
Just my point of view for today trade posibility with early entry for TC signal.
- #20,813
- Aug 21, 2009 8:50am Aug 21, 2009 8:50am
Took Usd/Jpy 1 hour before 4Hrs candle close.
reasons:
- after we have almost to 21ema retrace,next one 4hrs candle went down bounce from 8 ema.one hour before to close this candle macd give signal.For confirmation on the 1Hr TF there was TC signal and ADX support it too.
-we are in downtrend channel at all in short time view.
- the risk was because there was a gap on the 1hrs TF but at all we have to look on the 4Hrs the gap indicator was red.
-second risk was because we have support line on the place I have enter.
SL: 93.94 just behind high of the signal candle on the 4Hr TF
enter: 93.68
TP: 93.30
R:R 26:38 OK
edit:
close half lot on 93.47. move SL to BE
edit:
clost the other half lot on 93.41
pips won: 24
to watch the trade live want big self confidence. My nerves do not let me to let the pips to burn so I closed for total profit.That is the reason I do not preffer to watch the trade live
reasons:
- after we have almost to 21ema retrace,next one 4hrs candle went down bounce from 8 ema.one hour before to close this candle macd give signal.For confirmation on the 1Hr TF there was TC signal and ADX support it too.
-we are in downtrend channel at all in short time view.
- the risk was because there was a gap on the 1hrs TF but at all we have to look on the 4Hrs the gap indicator was red.
-second risk was because we have support line on the place I have enter.
SL: 93.94 just behind high of the signal candle on the 4Hr TF
enter: 93.68
TP: 93.30
R:R 26:38 OK
edit:
close half lot on 93.47. move SL to BE
edit:
clost the other half lot on 93.41
pips won: 24
to watch the trade live want big self confidence. My nerves do not let me to let the pips to burn so I closed for total profit.That is the reason I do not preffer to watch the trade live
- #20,815
- Edited 10:34pm Aug 21, 2009 8:33pm | Edited 10:34pm
Took Usd/Jpy 1 hour before 4Hrs candle close.
reasons:
- after we have almost to 21ema retrace,next one 4hrs candle went down bounce from 8 ema.one hour before to close this candle macd give signal.For confirmation on the 1Hr TF there was TC signal and ADX support it too.
-we are in downtrend channel at all in short time view.
- the risk was because there was a gap on the 1hrs TF but at all we have to look on the 4Hrs the gap indicator was red.
-second risk was because we have support line on the place I have enter.
SL: 93.94 just behind high...
. It was good that you completed your trade before Bernanke made his speech. His speech about the economic recovery made all the USD pairs spike and left that big candle on the UJ.Unfortunately I am asleep when some of these news items occur - sometimes it is a good thing and sometimes it is a bad thing. One thing I know for sure from experience is that since my sleep hours are during the US session, I shouldn't leave anything open during that time.
- #20,816
- Aug 23, 2009 10:41am Aug 23, 2009 10:41am
Nerd, are you still holding your trade ? I entered same time as you. Pair nor moving much. Looks like some support there.. I will waite and see what happen.
EDITED : closed my first lot at 37+ pip.. second set to BE.. let see what next..
thanks
shabbir
i closed my USDJPY trade for +48 pips earlier...
was off for a vacation actually n just reached home yesterday nite...
i read all da posts n checked my charts..i think last week hasnt been dat great...dere was a perfect eurusd short TC trade dat went wrong for most of the people...
but i believe, losses r a part of every system...much like expenses dat r present in EVERY business venture...looking forward for a good week..best of luck to everyone..
n HAPPY RAMADAN !!
