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4 Hour Strategy (MACD)

  • #21,081
  • Oct 8, 2009 6:21am Oct 8, 2009 6:21am
Quoting Pipmaniac
While u guys were sleeping I went long with E/U.As the rules says, when price breaks through the 89 it tends to come back to it and before continues in the originally direction. 50% Fibo was confirmed as support. I used a 5m entry.Right after the vertical line in the 5m chart. It doesn't fit 100% to the rules because the MACD wasn't green either the 5;13;1 setup nor the 10:22:1 setup. Another risky aspect of the trade was also...
Good trade Pipmaniac... Congrats....
  • #21,082
  • Oct 8, 2009 7:53am Oct 8, 2009 7:53am
Quoting ssq
if the market go up a lot at the Asian time,maybe the market will go up more at the Europe and American time.........

i am waiting......

any comment was wellcome.
21ema or 89sma(somewhere nearby my PW1.4670) for TC upside...wait and see
  • #21,083
  • Oct 8, 2009 9:15am Oct 8, 2009 9:15am
I AM OUT with a little pips......

there is a up tail and maybe a SHS.....

WILL YOU SELL IT???? I AM NOT.....
  • #21,084
  • Oct 8, 2009 9:40am Oct 8, 2009 9:40am
Quoting ssq
I AM OUT with a little pips......

there is a up tail and maybe a SHS.....

WILL YOU SELL IT???? I AM NOT.....
CT? Maybe...depends on what lower TFs (H1 and 15M) are telling me...

Welldone with that few pips...it is still your profit....
  • #21,085
  • Edited 1:19pm Oct 8, 2009 11:22am | Edited 1:19pm
Here is a trade I took this morning. I had to sit out a retracement that went just over 30 pips against me before turning around. Price got to 1.4780 where it tested 1.4800 earlier I have decided to set all at breakeven. Will see if it is going to breach 1.4800.

I will set trailstop of 25 when 1.4800 is reached and leave it for the night.

Edit 1
Price have raced through 1.4800 to about 1.4817. I have therefor decided to set a stoploss at 1.4780 and see what the price wants to do.

Edit 2
Closed out at 1.4780 for 29pips
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD.gif Size: 64 KB
  • #21,086
  • Oct 8, 2009 11:47am Oct 8, 2009 11:47am
Quoting Phillip Nel
Here is a trade I took this morning. I had to sit out a retracement that went just over 30 pips against me before turning around. Price got to 1.4780 where it tested 1.4800 earlier I have decided to set all at breakeven. Will see if it is going to breach 1.4800.

I will set trailstop of 25 when 1.4800 is reached and leave it for the night.

Edit 1
Price have raced through 1.4800 to about 1.4817. I have therefor decided to set a stoploss at 1.4780 and see what the price wants to do.
Thanks Philip.I don't understand the small picture on the bottom left side.Are trying to show the retracement with that?

Regards
Mike
Failure, is a wonderful teacher!
  • #21,087
  • Edited 2:41pm Oct 8, 2009 1:47pm | Edited 2:41pm
I took on the UsdCad TC. The MACD setting is set at 10,22,1 for this pair.
I have said that I am going to trade a bit more aggressive and that includes this pair in my arsenal.

1. I wont let this pair go back to stoploss level as it allready were +20.
2. I will watch it carefully at 1.0500 and set at breakeven. It is also slowing down at the previuos 4H candle low of 1.0512.
3. Have set all to breakeven after some slowdown at 1.0512

Edit 1
It is bedtime for me and I was hoping that the 1.0500 would have been broken by now but it seems to be support at this stage. It is bedtime and I have decided to close for +20. It might still go but as I am on the road tomorrow I am closing now.
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD 1.gif Size: 57 KB
  • #21,088
  • Oct 8, 2009 2:01pm Oct 8, 2009 2:01pm
Sweet i also took usd/cad TC and i just put my stoploss above the high of the current candle because i think BE is too close for now.
Attached Image
  • #21,089
  • Oct 8, 2009 2:21pm Oct 8, 2009 2:21pm
Quoting fxlan
Sweet i also took usd/cad TC and i just put my stoploss above the high of the current candle because i think BE is too close for now.
Hi
The only reason I went to BE so quickly was because I dont want to give away the pips I allready made from yesterday if this turns around. 1.0500 Seems to hold. Will see if it gets broken.
  • #21,090
  • Oct 8, 2009 2:30pm Oct 8, 2009 2:30pm
I belive that it has more down potential to almost 1.0400 but we would have to give the price some space..but i am not comfortable with leaving the stop above the engulfing candle in this situation. Candles are too big.

Phillip i just want to ask if you got my pm last week i think?
  • #21,091
  • Oct 8, 2009 2:45pm Oct 8, 2009 2:45pm
Quoting Phillip Nel
Here is a trade I took this morning. I had to sit out a retracement that went just over 30 pips against me before turning around. Price got to 1.4780 where it tested 1.4800 earlier I have decided to set all at breakeven. Will see if it is going to breach 1.4800.

I will set trailstop of 25 when 1.4800 is reached and leave it for the night.

Edit 1
Price have raced through 1.4800 to about 1.4817. I have therefor decided to set a stoploss at 1.4780 and see what the price wants to do.

Edit 2
Closed out at 1.4780 for 29pips



I also take this trade - reason like you write on chart.

I can't today watch market online,so I set order on 61,8 % fibo level on strong bulish candle (1.4735).
sl - bottom candle (1.4685)
TP - below previous high (1.4815) luckily for me

Result :
+80 pips

Regards
ARtuRO
Attached Image
  • #21,092
  • Oct 8, 2009 2:52pm Oct 8, 2009 2:52pm
Quoting ARtuRO
I also take this trade - reason like you write on chart.

I can't today watch market online,so I set order on 61,8 % fibo level on strong bulish candle (1.4735).
sl - bottom candle (1.4685)
TP - below previous high (1.4815) luckily for me

Result :
+80 pips

Regards
ARtuRO
That was very good.
Phillip
  • #21,093
  • Oct 8, 2009 9:02pm Oct 8, 2009 9:02pm
I see a divergence on MACD in U/Cad.
Failure, is a wonderful teacher!
  • #21,094
  • Oct 8, 2009 9:08pm Oct 8, 2009 9:08pm
Enter EURGBP short position
price close below 21 EMA
pull back and head to 89 SMA
Attached Image (click to enlarge)
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Success is the small sum of efforts, repeated day in and day out.
  • #21,095
  • Oct 9, 2009 4:23am Oct 9, 2009 4:23am
Quoting Phillip Nel
Hi
The only reason I went to BE so quickly was because I dont want to give away the pips I allready made from yesterday if this turns around. 1.0500 Seems to hold. Will see if it gets broken.
Looks good for some rebounce around this rectangular...just nearby the price wave 1.4670.

But, if it break below this level, maybe it will look for some support around 21ema of D1.

What do you think Phil?
Attached Image (click to enlarge)
Click to Enlarge Name: h.gif Size: 39 KB
  • #21,096
  • Oct 9, 2009 4:30am Oct 9, 2009 4:30am
Just wanna share mine...

Hope it helps.
Attached File(s)
File Type: tpl 515macd.tpl   27 KB | 317 downloads
File Type: mq4 MTFMovingAverage.mq4   5 KB | 321 downloads
File Type: mq4 Support_Resistance.mq4   2 KB | 336 downloads
  • #21,097
  • Oct 9, 2009 6:02am Oct 9, 2009 6:02am
Morning all,

Right I have just uploaded the last video of the review of the TC (long) signal I took on the 02-10-09 after the non farms price action had chilled out.

The video also covers some basic questions which people have been asking, so if you have anything else you want me to cover then please message me. I will also be uploading the 5th lesson which will cover fibs, how to use them and how to draw them.

Inserted Video


Please rate / comment the video as it helps others learn.

Cheers WG
  • #21,098
  • Oct 9, 2009 6:37am Oct 9, 2009 6:37am
Quoting dhalsim
Enter EURGBP short position
price close below 21 EMA
pull back and head to 89 SMA
Hi dhalsim,
Can you please explain why did go short?
As I see it 1) EURGBP was in uptrend 2) No TC signals...
Maybe i missed somthing.

Thanks
  • #21,099
  • Oct 9, 2009 9:06am Oct 9, 2009 9:06am
I love this: Everything was pointing short till the last bar...downtrend, strong bearish bar, macd changed colour....but you cant go short because of the rule when the price goes through the 21 it tends to go back to the 21 before continuing to the 89. I wanted to short 4 h ago (when my previus bar closed) but i said to myself: Stick to the rules. The price is not at the 89 but it would still hit my SL.

So the lesson is: Stick to the rules!
Attached Image
  • #21,100
  • Oct 9, 2009 9:15am Oct 9, 2009 9:15am
Hi,

I just saw a long on the USDJPY when the price found support on the 21MA heading up to the 89MA. The 4hr bar just opened about 15 mins or so. I did not take this trade as the SL and the R:R did not seem good to me. The SL at the arrow, about 71 pips and the target is the 89MA about 57 pips.

My question is the position of my SL, is it the correct place to put it, I was thinking about putting it just bellow the 21 MA which would make the SL about 50 pips or so.
What you guys think? Should I have taken the trade?

Thanks for your help, sorry for the trouble guys.

Regards,

Andrew
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 55 KB
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