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4 Hour Strategy (MACD)

  • #21,381
  • Nov 6, 2009 9:29am Nov 6, 2009 9:29am
In general, we still see the PA ranging between PW 1.4830 and PW 1.4910. More actions on Monday (upside hopefully).

See you guys next week.
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  • #21,382
  • Nov 7, 2009 6:34am Nov 7, 2009 6:34am
Attached are trades that could have been done this week and a couple of end of last week. GBPUSD has been showing some good PA lately, so it's all about being patient and awaiting that good entry.

Any q's please ask.
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  • #21,383
  • Nov 8, 2009 4:50am Nov 8, 2009 4:50am
I closed the trade just before tne NFP news. Have some internet problems and could not post earlier.
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  • #21,384
  • Nov 8, 2009 9:06pm Nov 8, 2009 9:06pm
Quoting orangeRANGE
In general, we still see the PA ranging between PW 1.4830 and PW 1.4910. More actions on Monday (upside hopefully).

See you guys next week.
And up we go for now, with the price currently testing PW1.4910.

Any question/comment is most welcome.
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  • #21,385
  • Nov 9, 2009 5:00am Nov 9, 2009 5:00am
Here is a trade I did last night. The Daily chart shows the bullish candle that closed above the 21MA. I knew at that point to look for long trades. On the 4 hr chart price was in a consolidation period indicated by the blue rectangle. Price did not quite close above 1.4911 so I waited until price was in the 20's. I closed my trade just below 1.5.
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  • #21,386
  • Nov 9, 2009 6:11am Nov 9, 2009 6:11am
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  • #21,387
  • Nov 9, 2009 8:28am Nov 9, 2009 8:28am
Quoting bshadroo
TC in audusd,seems its coming up from the daily TL
300+200 pips closed , (small size trade )
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  • #21,388
  • Nov 9, 2009 9:17am Nov 9, 2009 9:17am
Well, that is a lot of pips, congrat! but it includes a lot of patience, I guess, a precious value.
Yvon
  • #21,389
  • Nov 9, 2009 10:05am Nov 9, 2009 10:05am
Todays trade. I could not trade the GbpUsd nice TC due to internet problems but I could get this ons. 17 Min late but it was still OK.

I am surpriced to see people not trading the GbpUsd nice TC.
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  • #21,390
  • Edited 1:00pm Nov 9, 2009 10:50am | Edited 1:00pm
I saw this Evening Star on my live account graph(Gmt +0) and decided to take it on as it formed against TL resistance as well as an aggressive turnaround on the MACD. That tail was the confirming trigger for me.

Have set a trailstop of 25pips.

Edit 1
Came back and saw +30pips. Set all at breakeven 1.6754

Edit 2
Price got to 8Ema so I decided to close for +35pips. Have to go and dont want this trade to go to BE.
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  • #21,391
  • Nov 9, 2009 2:32pm Nov 9, 2009 2:32pm
Quoting Phillip Nel
Todays trade. I could not trade the GbpUsd nice TC due to internet problems but I could get this ons. 17 Min late but it was still OK.

I am surpriced to see people not trading the GbpUsd nice TC.
Maybe they were asleep too. My 00:00-0400 candle closes at 3am GMT. I was in the land of snooze.

Bit of a gap in the EuroDollar just now. Might be worth a look, although it is CT so will probably give it a miss.
  • #21,392
  • Nov 9, 2009 2:53pm Nov 9, 2009 2:53pm
Didn't do much last week. Traded EURJPY like Phillip on Monday, but that was it. (+162) Rate decisions and NFP meant that I kept out.

Watching cable this week as the Daily has moved into overbought zone and the Price Action is looking corrective (overlapping patterns). Time wise between Tuesday 9am - Wednesday 7am (GMT) will be when I focus on it to see whats happening.

Had a rubbish October. Mainly due to bad discipline on my part. I stopped trading live for a few weeks just to "clear the head".

Nice to see Phillip posting his October results. Shows you what you can do with this method with some practice and patience.

Good Luck.
  • #21,393
  • Edited 8:04pm Nov 9, 2009 5:01pm | Edited 8:04pm
I am not at the point where I feel comfortable having 2 trades going at once. Reason being, if they both went bad I don't think my psyche would handle it that well. So between the 2, I felt more comfortable with the EUR/USD.
I'm currently short the EUR/USD with 1/2 position size
Raymond

Edit: out for 15 pips

Quoting Phillip Nel
Todays trade. I could not trade the GbpUsd nice TC due to internet problems but I could get this ons. 17 Min late but it was still OK.

I am surpriced to see people not trading the GbpUsd nice TC.
  • #21,394
  • Nov 9, 2009 10:05pm Nov 9, 2009 10:05pm
Nice trade Morelands,

I'm short since 20:00 bar as well (1.5000 level) - liked the nice small dojis at resistance level.
Targeting 1.4930 ish tho may be a bit optimistic. Anyway, trade is at BE now.

Quoting Morelands
I am not at the point where I feel comfortable having 2 trades going at once. Reason being, if they both went bad I don't think my psyche would handle it that well. So between the 2, I felt more comfortable with the EUR/USD.
I'm currently short the EUR/USD with 1/2 position size
Raymond

Edit: out for 15 pips
  • #21,395
  • Edited 10:08am Nov 10, 2009 9:26am | Edited 10:08am
I took the RT but stoploss was hit by 1 pip. Was the right decision for a few pips. One of those where the stop was hit.
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  • #21,396
  • Nov 10, 2009 10:10am Nov 10, 2009 10:10am
Quoting Morelands
I am not at the point where I feel comfortable having 2 trades going at once. Reason being, if they both went bad I don't think my psyche would handle it that well. So between the 2, I felt more comfortable with the EUR/USD.
I'm currently short the EUR/USD with 1/2 position size
Raymond

Edit: out for 15 pips
Hi
That was the right decision. I also dont like being in 2 trades except If I can split my risk into 1,5% of capital per trade thus half the normal risk per trade.
  • #21,397
  • Nov 10, 2009 1:40pm Nov 10, 2009 1:40pm
Short USDCHF SL 1.0118 TP 1.0015

There is no MACD confirm at this stage but those long tails on the last couple of 4 hr candles look as if price wants to go down.
We are under the 89 and between the 21 & 8 so a reasonably good possibility it will move downwards........ But remember there are no certains in trading.
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  • #21,398
  • Nov 10, 2009 2:28pm Nov 10, 2009 2:28pm
Trying this on my Demo as Daily is in overbought zone imo.

The tails off the 21ema seem like an indication that it wants to continue upwards. Also looks like we have had a minor abc correction.

SL just below 21ema 1st TP @ previous swing high.

Lets see how it goes.
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  • #21,399
  • Nov 10, 2009 8:23pm Nov 10, 2009 8:23pm
Good luck. I agree with you...I like those tails. I saw a chance during the day to get in early, but I was at work. It was on a smaller time frame and I could have set things to BE by now, but those are the breaks. So I'm still not in. If the hourly closes with a strong candle above 1.6741 (fib level) and I'm awake to catch it, I'm in. If not, hope you make some virtual $ and build your confidence
Raymond

PS: I did get a TC (but by 1 pip) and I decided not to take it. I didn't like the price action

Quoting neilbuc
Trying this on my Demo as Daily is in overbought zone imo.

The tails off the 21ema seem like an indication that it wants to continue upwards. Also looks like we have had a minor abc correction.

SL just below 21ema 1st TP @ previous swing high.

Lets see how it goes.
  • #21,400
  • Nov 11, 2009 2:34am Nov 11, 2009 2:34am
Quoting Morelands
Good luck. I agree with you...I like those tails. I saw a chance during the day to get in early, but I was at work. It was on a smaller time frame and I could have set things to BE by now, but those are the breaks. So I'm still not in. If the hourly closes with a strong candle above 1.6741 (fib level) and I'm awake to catch it, I'm in. If not, hope you make some virtual $ and build your confidence
Raymond

PS: I did get a TC (but by 1 pip) and I decided not to take it. I didn't like the price action
Hi. You got a TC? Any reason why you did not give it a whirl? SL too big? It bounced off the 21ema a couple of times after crossing the 89sma so the rules have been met or am I missing a vital ingredient? My SL was bigger than usual so scaled position size back. It is on demo so its just a practice to ,as you say, to build confidence.

Good Luck fella.

Neil
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