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Attachments: 4 Hour Strategy (MACD)
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4 Hour Strategy (MACD)

Quoting yuyudada
A nice TC setup@ E/U, but I missed it due to I was at supper.
Dont worry about this!
There is some MACD regular negative divergenz, so we can go down!

On better supports you can open long positions!

Peace.
Quoting Phillip Nel
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.
you did a ct trade??am i right???

you think there is a double bottom,so you buy the gbpusd????

anticipate your answer......
Afternoon All,

I have just taken the CT Long on the GBP/USD based on the candle patterns on the daily / 4H. I will post a video on this when I exit. If you have any questions please ask.

Cheers WG
Quoting ssq
you did a ct trade??am i right???

you think there is a double bottom,so you buy the gbpusd????

anticipate your answer......
A double bottom was part of it. I have updated post 21118 with the reasons for the trade.
Phillip

1.5900 was the reason for closing 50% of the trade.
Attached Image (click to enlarge)
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Quoting fxlan
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
Hi. It is difficult to know that beforehand if it is going to breakout. The best way to trade a breakout is to wait for the breakout to occur on a lower timeframe like the 1H in this example and then to wait for a pullback and then a confirmation candle(hammer,engulfing etc) like the hammer as shown in the immage and then enter.

The second image shows how I have seen the EurUsd. I would not have waited for a breakout but for a TC and that is what happened with TP at top trendline +80pips with a 40pip stoploss.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4H MACD 1.gif Size: 29 KB
Quoting welshguy2000
Afternoon All,

I have just taken the CT Long on the GBP/USD based on the candle patterns on the daily / 4H. I will post a video on this when I exit. If you have any questions please ask.

Cheers WG
hi WG .. thanks for the post ..

could you kindly let us know what was your entry .. TP and SL also ..

cheers
I am seing this pair will go up to this price wave then for another retracement. If the market doing well...then we should wait until PW1.4990 before a safe CT can be done.

Just my lil' thought for now...any question? Anybody?
Attached Image (click to enlarge)
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GBP has been unable to solidly hol above the 89 for almost a month now, and running into some strong resistance on the trend line.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 17 KB
Here is the total closure of the GbpUsd trade.
I took profit on the remainder at 1.6000 as planned.
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD.gif Size: 102 KB
Hi all,
I have been following this system for quite sometime now and I have my charts set up exactly how I wanted to until my old computer's harddrive failed on me and I have lost everything. Can someone kindly post their template and indicators so i can reset up my charts again? many thanks
Hope this is OK.
Phillip
Attached File(s)
File Type: mq4 MACD_Colored_v102.mq4   5 KB | 614 downloads
File Type: ex4 MACD_Colored_v102.ex4   7 KB | 517 downloads
File Type: tpl 1 a 4h macd.tpl   4 KB | 647 downloads
Hi Guys just a heads up, the EUR USD seems to be retracing (shorting eminent) from a near altime high....anyone agree?
Phil,
I appreciate for your help. Just gotta make sure i back up my harddrive in the future.

Quoting Phillip Nel
Hope this is OK.
Phillip
hi there,

I have shorted on UJ based on market rythem .. four candles closed below 21ema .. two shooting star.. one bearish EG closed below all three previous.

hopefully it will be nice drop down.

E-89.42
SL - 90.65 just above shooting star (within 3%)
1st TP - 88.35 previous low
2nd TP - around 88.00 TL

it might take few days to work out ..
your comments welcome ..

cheers
shabbir
  • Post #21,135
  • Quote
  • Edited Oct 15, 2009 5:14am Oct 14, 2009 7:46pm | Edited Oct 15, 2009 5:14am
Quoting gujjubond
hi there,

I have shorted on UJ based on market rythem .. four candles closed below 21ema .. two shooting star.. one bearish EG closed below all three previous.

hopefully it will be nice drop down.

E-89.42
SL - 90.65 just above shooting star (within 3%)
1st TP - 88.35 previous low
2nd TP - around 88.00 TL

it might take few days to work out ..
your comments welcome ..

cheers
shabbir
Hard to tell with the UJ. Looks like there is some consolidation between support and resistance with all the MAs coming together on the 4 hr. On the daily, it looks like it could be headed up with the double bottom off the trendline and divergence. There is some resistance around 90.20 - 90.46 level. See chart. Just my 2 cents worth..Good luck.
Attached Image(s) (click to enlarge)
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Phil,

Just a note to say Thank You. Please do not feel bad that you are sometimes running late with the weekly anticipation. It amazes me that you have time to do the weekly anticipation, run both forums, trade and go to work. We all appreciate everything that you do.
Quoting gujjubond
hi there,

I have shorted on UJ based on market rythem .. four candles closed below 21ema .. two shooting star.. one bearish EG closed below all three previous.

hopefully it will be nice drop down.

E-89.42
SL - 90.65 just above shooting star (within 3%)
1st TP - 88.35 previous low
2nd TP - around 88.00 TL

it might take few days to work out ..
your comments welcome ..

cheers
shabbir
I would actually expect price to rally higher. 89.42 isn't even a good resistance area. It's right in the middle of a consolidation area and now it's starting to break up. Look to the left and you'll see what you're up against. I would rather enter short at your stop. I won't unless I see a solid setup at that time.
I noticed the inverse pattern on today's 5 min GBP/USD phillip showed us yesterday. The only difference was this was upside down and it was on the 5 min. Notice the bold red line was the resistance line on the 4hr.
Attached Image (click to enlarge)
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The breakout trade of the GbpUsd according to the rhythm as explained on post 2118. The rhythm is still up. Therefore the wait at the tendline to see if it wants to break through. The hammer was the trigger for me . The price found support on the 89sma

Edit 1
I have closed 50% at 1.6285 after a retracement from 1.6300 (+281pips)
I have set my stoploss at 1.6170
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD TRade.GIF Size: 36 KB
Hi Phillip,

Its good to have you back and hear from ya. I thank you for taking time and effort to share your system and your thought process.

If you don't mind, I would like to run a question by ya. I too was waiting to long the GBP/USD at the bar at the arrow and the SL, about 70 PIPS or so, at the arrow's level. First PL about 30 PIPs or so with a trailing stop if and when the market moves in my favor. That’s my thought process.

But when the bar ended, the MACD did not show a TC sig, the MACD bar when opened was red. Now looking back, it was a good trade with very good PIPS. My question is, although the price action shows a high probable trade, but the MACD does not show a TC. Do you still take the trade on or let it go?

On your previous post, you took the long GBPUSD trade although the MACD did not show an entry, forgive my ignorance, but is that according to the trading rules?

I hope I did not offend you or anyone, I thank you again for the time and effort in sharing with us.

Thanks again,

Andrew
Attached Image (click to enlarge)
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