Top and Bottom M5 Trade

After the massive fall in EU Going long at 1.3523 with SL 1.3500 noticed the EU H1 eventhough the MACD is belwo zero it is still not deep down

Closed for 5 pip

Re entered at 1.3466 SLAT BE

The previouse EU long was closed for 5 pip went down in H1 to the previouse support level and picked long at 1.3466 SL at BE

Notice the pin bar at the support level

The entry was at M 5 with improvment in MACD to the bullish side

Closed 1.3559

EU dipped below the D1 2-bar low and came back to clear the daily open.

EU showing bullishness the MACD is above the zero line and I am long in EU just after the Pin Bar in HI chart yesterday after the fall in UK session.
I entered Long in EU after noticing the big pin Bar

Entry price 1.3494

Further entries late new york session after noticing the MACD IN h1 CROSSING zero line

1.3570 SL AT BE
1.3605 SL AT BE

EU H1 chart the current candles is keeping a good distance from EMA 100 to the upside and also the H 4 candles has touched the EMA 100 . There are no big pull back noticed so far. If the H 4 candles is going to close above EMA 100 further up move could be possible.

Nice trit....

Can you attached a template and indicator?

Thank you

There was a drop of 30 to 35 pip but if you look into the M 5 chart the MACD has crossed the zero line very fast than the price drop and also the H 1 current candle turned out to be a needle .

Kind of a trap to go short on a longer term basis as of now

Templete

EU went positive for the week and on to 2 and 3 day highs.

http://i49.tinypic.com/16kv0xw.gif

Here are my indicators and template.

Note this H1 chart where the price is pushed up in the last few bars but the MACD has not moved up

How I trade using MACD H1 Chart and M5 Chart

In H1 Chart you have seen the MACD at the top shows that the pair is overbought and also when I apply my EMA 100 close, the top of of the H1
candle seems to be not too far from the EMA 100( it is not extremely bullish market)

Questions:

1 So what should be my trading Plan

Your trading plan should be Monitor the M 5 chart and find the top of the MACD above Zero line and place short at the top Level

Ok Where I can see that the MACD is going to be at the top

If you have seen MACD at the TOP Say during the Asia session in H 1 chart and also the hourly candle has not maintained great distance from the EMA 100 to the upside as I said above it is not a bullish market.

wait for the london session for the MACD to go for the TOP in M5 and place short.

But How Can I trust that duing london session that the MACD in M 5
chart is going to be the TOP may be the US session can have another top in M5

YES your are correct to some extent that is why I am asking you to Look in to the MACD bars in H1 where it shows that the MACD is showing a decling trend and also I am asking you to note the distance of Hourly candle to SMA 100

If you feel that both are not progressing to the bull mode short from the Higher level

Note

If the market is in the Bearish mode the london session will push the price up before the us session, for the us session to short it from the TOP and vice versa.

Eg

Pre NFP and Post NFP

During the Pre NFP session the EU was in consolidation mode and also if you notice the MACD during pre NFP section in H1 chart it was progressing to some what bullish mode and also the hourly candles are very close to EMA 100 signifies that the market is going to buy the dip

NFP Result came and very positive

EU dipped to around 70 to 80 pip but was bought ASAP

In H1 chart MACD moved very fast close to the zero line but will be crossing the zero line on Monday.


I have a question to ask (ok shoot )

You are saying that the MACD in H1 chart shows decline but not crossed Zero line below, is that advisable to buy the dip may be the MACD without crossing the zero line down can go up again to highly bullish mode

yes i understood your point that is why I am asking you to measure the distance of EMA 100 with hourly candles and see it can go move further up

I am asking you what is the yard stick to measure the EMA 100 with the hourly candles.

The best approach i have seen is plotting the horizontal line of the extreme TOP and the second extreme TOP and see that the price is touching those areas if not the market is going to be bearish

My head is spining by reading all these can you give me in one or two lines what i should do

Yes if you see that the MACD in H 1 chart at the TOP wait for the MACD in
M 5 CHART to be the top and short it from their and vice versa for long

Ihave few more questions:

You said that in M 5 let the MACD goes to top and short if from their why cant i go long to reach the MACD TOP.What is the SL you are using for these approach and what is your TP

Ok i got your message by going long you may get 10 to 30 pip pip but from the long trade point of view say 4 to 5 hours or a day you can grab 100 plus pip in EU

The SL can be 50 to 70 pip for EU

Ok How much pip you collected last week and what is your contract size.

Since I have noticed the benefit of using MACD just two weeks before my contract size on live Account is .05 to .10 and my pip collection last week
was +400 pip

Like I said in the last post the MACD has crossed above ZERO line and have marked in horizontel lines the resistence line in EU. Will EU cross those lines or not and how the MACD is going to look like during london session

short placed at the peak of MACD in M5 (NY session) weakness in MACD H 1

ENTRY 1.3687 SL BE

Keeping the short to see that the MACD cross below zero line

http://i41.tinypic.com/qn8e3d.gif

Positive divergence may indicate price will rise.

http://i41.tinypic.com/5frk1e.gif

May be too soon to tell.

http://i39.tinypic.com/2wludm9.gif

Positive divergence came through.

AJ seems to be a trade to watch MACD IN H 1 IS BEARISH. There could be further fall

Lokking for a rally in M5 TO SHORT

Thanks

Check my latest update in the first post