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4 Hour Strategy (MACD)

  • #22,201
  • Apr 7, 2010 2:37pm Apr 7, 2010 2:37pm
Quoting ira
I think we ....

The frist chart shows TC with the trend (by the way it is my deal on EUR). ....
Hope this helps, keep asking. It is a pleasure for me to help. you don't know how much people around here helped me at my time.
Hi ira, your notes are very clear as always. Can you please tell me when you exactly entered the usd trade ? I entered after the close of TC signal 4h candle, but with a lower price then your. Did you entered before the 4h candle close according to some lower frame candle, or waited some retrace on the next candle ?

Thx
cheers,
andy
  • #22,202
  • Apr 7, 2010 5:15pm Apr 7, 2010 5:15pm
Quoting emiliolopez
So this would be a more probability trade because its following the uptrend by the 365, 200 and 89 averages?

then would have to wait for the MACD confirmation

Attachment
Yes but expecting a deeper pullback.
  • #22,203
  • Apr 7, 2010 5:41pm Apr 7, 2010 5:41pm
Quoting ira
Hope this helps, keep asking. It is a pleasure for me to help. you don't know how much people around here helped me at my time.
Thanks Ira. We are indeed fortunate to have you here. Thanks for explaining everything so clearly.
  • #22,204
  • Apr 7, 2010 5:56pm Apr 7, 2010 5:56pm
USDJPY looks that it is going to test SMA89 rather than moving upward to me. ADX suggest it is trending towards the downside. What do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.gif Size: 17 KB
  • #22,205
  • Apr 7, 2010 5:59pm Apr 7, 2010 5:59pm
Quoting xeneric
Yes but expecting a deeper pullback.
Im watching USDJPY Closely, we might see this.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010 04 07 usdjpy 01.jpg Size: 200 KB


or maybe not
  • #22,206
  • Apr 7, 2010 6:17pm Apr 7, 2010 6:17pm
Quoting emiliolopez
Im watching USDJPY Closely, we might see this.
Attachment

or maybe not
Hi emiliolopez,

Any way is possible. But seems I am on the short, I certainly looking forward to see it move down further
  • #22,207
  • Apr 7, 2010 6:30pm Apr 7, 2010 6:30pm
Quoting silverfox88
Hi emiliolopez,

Any way is possible. But seems I am on the short, I certainly looking forward to see it move down further
Agree. The rules say it should be headed for the 89 and chances are high that it will but in trading anything is possible.
  • #22,208
  • Apr 8, 2010 12:33am Apr 8, 2010 12:33am
Quoting andy1969
Hi ira, your notes are very clear as always. Can you please tell me when you exactly entered the usd trade ? I entered after the close of TC signal 4h candle, but with a lower price then your. Did you entered before the 4h candle close according to some lower frame candle, or waited some retrace on the next candle ?

Thx
cheers,
andy
Hi Andy, I entered 20 min earlier than the close of the candle. I just have feeling for some kind of setups and jump early. It comes with experience. All comes with time and practise, nobody says it, but with time you stop struggling and the process becomes natural. If you see a trade you take it, if not, then not.
  • #22,209
  • Apr 8, 2010 12:34am Apr 8, 2010 12:34am
Quoting xeneric
Thanks Ira. We are indeed fortunate to have you here. Thanks for explaining everything so clearly.
Thanks, it is wonderful that you are here too .
  • #22,210
  • Apr 8, 2010 12:46am Apr 8, 2010 12:46am
Quoting silverfox88
USDJPY looks that it is going to test SMA89 rather than moving upward to me. ADX suggest it is trending towards the downside. What do you guys think?
Attachment
U/J and G/J moved according to the rules. What does Phillip says: "When the price closes below 21, it tends to come to it and then moves away to the 89".

On both pairs we had small tails, then strong bearish candle and BOZ signals on MACD. I personally took G/J to 141.85 level, there is Fib line and support. It may not go all the way to the 89, because it is a bit far. The price may stuck and the 89 will come to the price. Or maybe we will have enough momentum to reach the price.

If the 89 is too far from the price, watch areas of sup/res, or another MA, like 200 or 365, as they also may act as sup/res.
Attached Images
  • #22,211
  • Apr 8, 2010 1:37am Apr 8, 2010 1:37am
Quoting ira
U/J and G/J moved according to the rules. What does Phillip says: "When the price closes below 21, it tends to come to it and then moves away to the 89".

On both pairs we had small tails, then strong bearish candle and BOZ signals on MACD. I personally took G/J to 141.85 level, there is Fib line and support. It may not go all the way to the 89, because it is a bit far. The price may stuck and the 89 will come to the price. Or maybe we will have enough momentum to reach the price.

If the 89 is too far from the price, watch areas of sup/res,...
Hi Ira,

Thank you so much for your guidance. I am thankful that people in this forum are so friendly and helpful!
By the way, may I know where did you draw your fibo line from and to? Daily or H4?
  • #22,212
  • Apr 8, 2010 1:45am Apr 8, 2010 1:45am
Quoting ira
U/J and G/J moved according to the rules. What does Phillip says: "When the price closes below 21, it tends to come to it and then moves away to the 89".
Yes, I agree with all the other guys. You have a natural talent for explaining things in a very clear way. Thank you, Ira!!
  • #22,213
  • Apr 8, 2010 6:30am Apr 8, 2010 6:30am
Thank you all, it is a pleasure for me. G/J Fibs are from daily.
  • #22,214
  • Apr 8, 2010 9:26am Apr 8, 2010 9:26am
Quoting ira
U/J and G/J moved according to the rules. What does Phillip says: "When the price closes below 21, it tends to come to it and then moves away to the 89".

On both pairs we had small tails, then strong bearish candle and BOZ signals on MACD. I personally took G/J to 141.85 level, there is Fib line and support. It may not go all the way to the 89, because it is a bit far. The price may stuck and the 89 will come to the price. Or maybe we will have enough momentum to reach the price.

If the 89 is too far from the price, watch areas of sup/res,...
Hi
This explanation is great. I also watch for Fib retracement levels and the 38% is currently offering some supprt. If I were in this trade I would have closed 60% at the sign of supprt(Little inverted red hammer) an let the rest go to see if 21ema will offer some resistance. Then the 50% or 89sma will be the next target. Close half of the remainder there and let the rest run on a nice trailstop till it close itself. That is how I would have done this trade.
But setting a certain profit area with a better then 1:1 Risk:Reward and closing all there is also good.
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD.gif Size: 18 KB
  • #22,215
  • Edited 10:02am Apr 8, 2010 9:45am | Edited 10:02am
Hi Philip, Ira and others,

This is my 1st post on this forum.

The forum and system is great, and although there are relatively few posts, those that are here are of value.

Would you take this trade on AudUsd if candle closed as it is here without MACD turning up. There is a morning star off a pullback off the 21. There is also a continuation of break of longterm weekly trend line.

Thanks again

Regards

Martin
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 26 KB
  • #22,216
  • Apr 8, 2010 9:46am Apr 8, 2010 9:46am
USDJPY in H4 has came down quite a fair bit from its top and is now in between SMA89 and EMA21 with support at fibo 38.2%. H1 is forming a big candle and I am watching closely if it is going to turn up from here.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.gif Size: 17 KB
  • #22,217
  • Apr 8, 2010 10:09am Apr 8, 2010 10:09am
See attached
Attached File(s)
File Type: zip 08April2010.zip   835 KB | 663 downloads
  • #22,218
  • Edited 6:11pm Apr 8, 2010 5:35pm | Edited 6:11pm
Hi Phillip,

Thanks for the update.

As for USDJPY, it seems to has found support at 38.2% and making a rebound with an bullish engulfing pattern with confirmation. I am anticipating that the uptrend will reverse from here. What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.gif Size: 17 KB
  • #22,219
  • Apr 8, 2010 7:59pm Apr 8, 2010 7:59pm
Quoting silverfox88
Hi Phillip,

Thanks for the update.

As for USDJPY, it seems to has found support at 38.2% and making a rebound with an bullish engulfing pattern with confirmation. I am anticipating that the uptrend will reverse from here. What do you think?
Attachment
I was thinking that it would reverse at the 21 EMA too but the upward momentum seems to be very strong right now.
  • #22,220
  • Apr 8, 2010 11:31pm Apr 8, 2010 11:31pm
I wasnt able to watch the markets today. I see that usdjpy found support around 38 fib. i have about one and a half year trading experience learning from zero, when i see theese things (usdjpy reacting) i realize how talking about what i see improves the way i see things. I feel good when i see a reaction just as we expected from talking about it and yet i feel that i have so much to learn and thanks to a place like this i can learn for free, i want to thank phill, ira xeneric the people that made de macd colored and... well, enough mellowness. Back to trading. thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010 04 08 usdjpy.jpg Size: 248 KB


i feel more inclined to the up right now... lets see if there is a continuation down or a break to the upside...
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