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4 Hour Strategy (MACD)

  • #21,101
  • Oct 9, 2009 6:00pm Oct 9, 2009 6:00pm
Quoting andrewnair
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.

[size=2][font=Arial]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...
Dear Andrew

Why guess? Best choice was to enter with half of the usual lot size and set the SL below the long green candle. Good trades do not come around very often.

Good luck
nabil
  • #21,102
  • Oct 9, 2009 8:16pm Oct 9, 2009 8:16pm
Quoting andrewnair
[font=Arial][size=2]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?...
another suggestion i can come up with is to zoom in on 1h or 15m Tf to adjust and fine tune your entry
  • #21,103
  • Oct 9, 2009 9:58pm Oct 9, 2009 9:58pm
Quoting Seki
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
the engulfing candle close, and it show a TC signal on macd window
I enter at the open of next candle,
Stopped out on this trade
Success is the small sum of efforts, repeated day in and day out.
  • #21,104
  • Oct 10, 2009 4:19am Oct 10, 2009 4:19am
Quoting nrousan
Dear Andrew

Why guess? Best choice was to enter with half of the usual lot size and set the SL below the long green candle. Good trades do not come around very often.

Good luck
nabil

Hey Nabil,

Thanks for the reply. What i meant is the R:R ratio. Risking 70 plus pips for 50 pips to me is not a good idea. Looking back now, it would have hit the PL target.

I what about placing the SL just below the 21MA? Anyone saw and took this trade?

Thanks for your info.

Regards,

Andrew Nair
  • #21,105
  • Oct 11, 2009 6:03am Oct 11, 2009 6:03am
I quite appreciate your MM Mr. Philip. I just want to ask why your sudden change of mind on wide stop loss. You said you don't use more than 50 - 60 pips stop loss but now you are using times two of your initial stop loss. Is the because of the market movement these days or what?
Though, it still met the 3% risk but I am just been curious.

Thanks
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #21,106
  • Oct 11, 2009 10:17pm Oct 11, 2009 10:17pm
Since I'm only looking at EU pair, to me maximum 80pips SL is still very relevant with these days market conditions. I just don't understand why very few people (or none) remember the lessons from the babypips.com regarding the market range for this pair.

Anyway, here is my latest template to share with you guys. Remember to download all the indys attached herewith before you loading the template. PM me if you have any question. Hope this helps.

Thanks and K.I.T.
Attached File(s)
File Type: tpl 515macd.tpl   27 KB | 343 downloads
File Type: mq4 RSIBar.mq4   2 KB | 384 downloads
File Type: mq4 Support_Resistance.mq4   2 KB | 368 downloads
File Type: mq4 MTFMovingAverage.mq4   5 KB | 356 downloads
File Type: mq4 4Hr821Gap.mq4   3 KB | 427 downloads
File Type: mq4 1Hr821Gap.mq4   4 KB | 384 downloads
  • #21,107
  • Oct 12, 2009 1:23am Oct 12, 2009 1:23am
Quoting orangeRANGE
.... PM me if you have any question. Hope this helps....
Thanks and K.I.T.
orangeRANGE has chosen not to receive private messages or may not be allowed to receive private messages. Therefore you may not send your message to him/her.

Hi Orange...
Smth wrong with you settings... Can not send you PM.
  • #21,108
  • Oct 12, 2009 5:14am Oct 12, 2009 5:14am
Looking for Long entries on EuroDollar that don't involve a 70 odd pip SL. Gonna wait to see it it will pull back to 21 ema and bounce off it. Could have made the position size smaller but decided to wait. Its a Holiday accross the pond so that might effect things.
  • #21,109
  • Oct 12, 2009 5:46am Oct 12, 2009 5:46am
Quoting Seki
orangeRANGE has chosen not to receive private messages or may not be allowed to receive private messages. Therefore you may not send your message to him/her.

Hi Orange...
Smth wrong with you settings... Can not send you PM.
Now you and others who are not in my buddy list can PM me...see ya
  • #21,110
  • Oct 12, 2009 5:56am Oct 12, 2009 5:56am
Quoting neilbuc
Looking for Long entries on EuroDollar that don't involve a 70 odd pip SL. Gonna wait to see it it will pull back to 21 ema and bounce off it. Could have made the position size smaller but decided to wait. Its a Holiday accross the pond so that might effect things.
Huge rebounce nearby PW 1.4670 and 89sma...what do you think now? SL @ 1.4670? I would recommend that...but becarefull...
Attached Image (click to enlarge)
Click to Enlarge Name: h.gif Size: 40 KB
  • #21,111
  • Oct 12, 2009 6:31am Oct 12, 2009 6:31am
Quoting orangeRANGE
Huge rebounce nearby PW 1.4670 and 89sma...what do you think now? SL @ 1.4670? I would recommend that...but becarefull...
Yeah. I would think somewhere round there would be ok. Looking for it to come back to 21ema or the small TL drawn from the peak of the 8/10/09.
  • #21,112
  • Oct 12, 2009 6:37am Oct 12, 2009 6:37am
Quoting orangeRANGE
Huge rebounce nearby PW 1.4670 and 89sma...what do you think now? SL @ 1.4670? I would recommend that...but becarefull...
Just noticed on the Weekly chart we are at the resistance line. That evening star doesn't look like it has worked out. Shame. Might be more upside to come if we can breakout.
  • #21,113
  • Oct 12, 2009 10:26am Oct 12, 2009 10:26am
Quoting ejiexe
I quite appreciate your MM Mr. Philip. I just want to ask why your sudden change of mind on wide stop loss. You said you don't use more than 50 - 60 pips stop loss but now you are using times two of your initial stop loss. Is the because of the market movement these days or what?
Though, it still met the 3% risk but I am just been curious.

Thanks
Hi
I was hoping someone asked that question. The credit crunch last year had 4 hour candles running 200pips at times and the volitality has not calm down as we knew it in the past. Therefore my decision otherwise a lot of trades would go by not traded. But now the risk MM had to be tight.
I stick to my 3% rule.
  • #21,114
  • Edited 2:49pm Oct 12, 2009 10:32am | Edited 2:49pm
The trade I took on this morning with 3 tails down to 89sma support. I entered as soon as price went above the previous candle high at 1.4725. I said that I am going to trade more agressive but still within the 4H MACD rules. We spoke a lot about tails in the past how they are significant around support and resistance areas.
The AudUsd had the same sort of candle forming a TC as well.

Just look at how the 89sma was resistance the week of 30Sept and how it became support last week. That is why those 3 tails was a very goos sign of support.
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD.gif Size: 69 KB
  • #21,115
  • Oct 12, 2009 10:48am Oct 12, 2009 10:48am
Well i am more looking at short in EUR/USD. It has tested the 1.48 area several times and always bounced. Breakout is always possible...but my picture is showing short atm. I will be waiting for a RT. Also divergence.
Oppinion anyone please
Attached Image
  • #21,116
  • Oct 12, 2009 12:31pm Oct 12, 2009 12:31pm
Nice Trade Phillip,

Was also eyeing that one up and had a retrace order in place at 1.4729 that was never filled. Next time....

Quoting Phillip Nel
The trade I took on this morning with 3 tails down to 89sma support. I entered as soon as price went above the previous candle high at 1.4725. I said that I am going to trade more agressive but still within the 4H MACD rules. We spoke a lot about tails in the past how they are significant around support and resistance areas.
The AudUsd had the same sort of candle forming a TC as well.
  • #21,117
  • Oct 12, 2009 3:32pm Oct 12, 2009 3:32pm
Quoting Phillip Nel
The trade I took on this morning with 3 tails down to 89sma support. I entered as soon as price went above the previous candle high at 1.4725. I said that I am going to trade more agressive but still within the 4H MACD rules. We spoke a lot about tails in the past how they are significant around support and resistance areas.
The AudUsd had the same sort of candle forming a TC as well.

Just look at how the 89sma was resistance the week of 30Sept and how it became support last week. That is why those 3 tails was a very goos sign of support.
Nice one Phillip. Just missed it as I had meeting, 10 mins and the SL was over 70pips. I also had a retrace order in but never was hit. Looks like we might get a daily close above and old intraday high too.
  • #21,118
  • Edited 11:03am Oct 13, 2009 6:16am | Edited 11:03am
Todays trade that I took. I am posting this from work. Will give full details when I get home later as to why I took the trade.
We had very bad weather and no internet last night. Could not discuss this oppertunity on the net.

Edit 1
I have closed 50% for 150pips. The 1.5900 was the reason for the partial profit.Will give the other half still a chance.
Attached File(s)
File Type: pdf 4H MACD Trade.pdf   135 KB | 1,225 downloads
File Type: zip 4H MACD Images.zip   122 KB | 636 downloads
File Type: zip GbpUsd Trade 13 Oct2009.zip   626 KB | 613 downloads
  • #21,119
  • Oct 13, 2009 6:21am Oct 13, 2009 6:21am
Nice breakout on the euro...i really have problems identifying when a breakout is more likely to happen then just a resistance. Does anyone have any suggestion on what to look for or anything that could help?

Thanks
  • #21,120
  • Oct 13, 2009 7:20am Oct 13, 2009 7:20am
A nice TC setup@ E/U, but I missed it due to I was at supper.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 39 KB
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