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4 Hour Strategy (MACD)

  • #22,501
  • May 3, 2010 5:55pm May 3, 2010 5:55pm
Quoting AlwaysLearn
Any windows mobile phone is fine. I was using HTC Diamond, now HP iPAQ 912. Going to get Garmin Asus M10 next. Important is screen size, resolution and battery life.

Update, EJ has broken the 89MA, if candle closes at this level, uptrend oncoming as MACD showing RB.

Edit: Retracement from 89MA started. TC signal on MACD. Good time to place a short on EJ when candle closes. Too bad I'll be asleep by then.
Hi AlwaysLearn,

Thanks for the information.
  • #22,502
  • May 3, 2010 6:54pm May 3, 2010 6:54pm
Quoting Morelands
Hello all, not gone for to long, maybe a week. A trade I did today...on the EUR/USD. The 1st chart is the daily and the candle we had last wk (the 280 pip) had me looking for short trades. Last night some people caught the initial move down. The second chart shows the move last night with the red arrow. That engulfing 4 hr candle closed below the moving average which is a move I really like in a consolidation period. After that candle, price was in a mini consolidation period and waiting for the MA's to push it down for the final move down to the...
Great to see your posts again, Raymond. I hope you got some nice pips.
  • #22,503
  • May 3, 2010 6:57pm May 3, 2010 6:57pm
Quoting saka

The exam will be hold at the end of this month, after that I am going to post again.
Good. It is time you came back. Good luck with your exams.
  • #22,504
  • May 3, 2010 7:25pm May 3, 2010 7:25pm
Quoting silverfox88
Hi AlwaysLearn,

Can tell me what phone you are using? I heard HTC is for window OS & can show chart but not sure if it is good? Any suggestion what phone is good for reading chart?
i using htc also htc touch 3g. cheapest htc. u definitely need a touch screen. screen is not big though. battery life not verry gd so prob need 2 batteries if u constantly monitoring , my ibfx has allows most basic indicators which is gd enuff
  • #22,505
  • May 3, 2010 7:59pm May 3, 2010 7:59pm
Quoting silverfox88
Hi AlwaysLearn,

Thanks for the information.
No problem.


EJ has a bull breakthrough on the 89MA. EU has also rebounded.
  • #22,506
  • Edited 9:23pm May 3, 2010 8:59pm | Edited 9:23pm
Quoting yuan83
i using htc also htc touch 3g. cheapest htc. u definitely need a touch screen. screen is not big though. battery life not verry gd so prob need 2 batteries if u constantly monitoring , my ibfx has allows most basic indicators which is gd enuff
I agree with battery life. That's why I switched from HTC Diamond to HP iPAQ 912. Although the iPAQ has smaller screen than Diamond, the battery life is longer, 1940mAh compared to 900mAh. HTC HD2 has the largest screen so far, 4.3", but with capacitive touch screen. Capacitive is more responsive but less accurate than resistive touch screen.

Sorry for digressing again.

EJ showing strong bull trend and EU bull trend is slowing down although RB is shown on EU 4hr. If EU breaks the 8MA on candle close in 2hrs, I may enter long trade with tp at 21MA line. Comments?
  • #22,507
  • May 3, 2010 11:25pm May 3, 2010 11:25pm
Quoting AlwaysLearn
I agree with battery life. That's why I switched from HTC Diamond to HP iPAQ 912. Although the iPAQ has smaller screen than Diamond, the battery life is longer, 1940mAh compared to 900mAh. HTC HD2 has the largest screen so far, 4.3", but with capacitive touch screen. Capacitive is more responsive but less accurate than resistive touch screen.

Sorry for digressing again.

EJ showing strong bull trend and EU bull trend is slowing down although RB is shown on EU 4hr. If EU breaks the 8MA on candle close in 2hrs, I may enter long trade with tp at...
if u ask me EU is in a downtrend and currently 21MA seems more like a resistance. price might hit 21 and go down again. seems like a bearish flag to me
  • #22,508
  • May 4, 2010 12:22am May 4, 2010 12:22am
Quoting yuan83
if u ask me EU is in a downtrend and currently 21MA seems more like a resistance. price might hit 21 and go down again. seems like a bearish flag to me
Candle did not close above the 8MA. No trade entered. Price seems to be moving sideways for now, bulls losing control with every candle. Therefore, I agree with your statement it will be bearish. However, it will be better to see if the MACD gives a TC signal.

EJ also shows bulls losing ground to bears. Previous candle rebounded off 78.6 fibo. Have to wait for the candle that closes 6hrs later today.
  • #22,509
  • Edited 1:43am May 4, 2010 1:26am | Edited 1:43am
thank you for the welcome and thank you for the analysis of your eu trade, Raymond. I had anticipated the eu short during the consolidation time, but I dind't have the guts to go short by then because of the tl. still holding the position and setting sl to be before 1,3150

last night I have entered a short on gu.
at the time of entry the candle was short. since I didn't wait for candle close I entered with half of my usual risk.


reasons for the trade:
the lower tl has been continuously set under pressure during the day, especially during the end of the day. the shadow retrace of the price to 21ema has shown sell activity that would sooner or later break the tl.


sl is above the shadow at 21ema
tp is at the lower trendline of the last months range


short 1,5235
sl 1,5286
tp 1,4134
r:r 1,98


I may enter with another half position on current candle close in about 2,5h if the rr is still aceptable.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 4h 4.5.10_.gif Size: 15 KB
  • #22,510
  • May 4, 2010 2:39am May 4, 2010 2:39am
both eu and gu trades set to be

I guess there will be no way to enter half a position on gu at candle close
  • #22,511
  • Edited 3:56am May 4, 2010 3:06am | Edited 3:56am
Quoting Morelands
Personally, I think the way price reacted at the 3150 level, there appears to be a lot of buyers. Raymond
You are right. I have just closed the other half of my EU short trade from Sunday (US time) at 1.3164. Looks like lots of support there for the time being.
  • #22,512
  • May 4, 2010 4:15am May 4, 2010 4:15am
Quoting AlwaysLearn
Candle did not close above the 8MA. No trade entered. Price seems to be moving sideways for now, bulls losing control with every candle. Therefore, I agree with your statement it will be bearish. However, it will be better to see if the MACD gives a TC signal.

EJ also shows bulls losing ground to bears. Previous candle rebounded off 78.6 fibo. Have to wait for the candle that closes 6hrs later today.
EJ broke the 50% fibo line. EU now at previous low. Waiting for candle end in 3 hrs.
  • #22,513
  • May 4, 2010 4:39am May 4, 2010 4:39am
eu trade reached tp target = +70pips

gu trade still open, currently retracing a little
  • #22,514
  • May 4, 2010 5:34am May 4, 2010 5:34am
Quoting yuan83
i using htc also htc touch 3g. cheapest htc. u definitely need a touch screen. screen is not big though. battery life not verry gd so prob need 2 batteries if u constantly monitoring , my ibfx has allows most basic indicators which is gd enuff
Hi Yuan83,

Good note on battery, will need to get one pretty soon with strong battery life.
  • #22,515
  • May 4, 2010 5:37am May 4, 2010 5:37am
Quoting AlwaysLearn
I agree with battery life. That's why I switched from HTC Diamond to HP iPAQ 912. Although the iPAQ has smaller screen than Diamond, the battery life is longer, 1940mAh compared to 900mAh. HTC HD2 has the largest screen so far, 4.3", but with capacitive touch screen. Capacitive is more responsive but less accurate than resistive touch screen.

Sorry for digressing again.

EJ showing strong bull trend and EU bull trend is slowing down although RB is shown on EU 4hr. If EU breaks the 8MA on candle close in 2hrs, I may enter long trade with tp at...
Care to share what do you mean by Capacitive is more responsive but less accurate than resistive touch screen?
  • #22,516
  • May 4, 2010 5:44am May 4, 2010 5:44am
Make 2 trades last night:

Long USDCHF at 10823 with target at 10873 - Target hit with + 50 pips.

Shorted EURUSD at 13235 with target set at 13135. However, at noon time when I saw MACD turns green, quickly closed my position with 38 pips profit. Looks like I have more to learn but happy with 88 pips for the start of the week...

Looking at the market now for TC but think I have to wait patiently for the time to come again...
  • #22,517
  • May 4, 2010 5:47am May 4, 2010 5:47am
Xerneric and Ashes,
Looks like the EUR went short. So much for my thoughts. Let's see if it can break the previous low.
Raymond
  • #22,518
  • May 4, 2010 6:14am May 4, 2010 6:14am
Very good work with euro shorts people, too bad I wasn't with you on this one. I got scared with the tail. The new month has just started so let's make many pips.

Saka, good luck with your exams.
  • #22,519
  • May 4, 2010 6:20am May 4, 2010 6:20am
eu looks good to buy a bouce off the lower channel tl. let's wait and see.
Attached Image (click to enlarge)
Click to Enlarge Name: eu d 4.5.10.gif Size: 13 KB
  • #22,520
  • May 4, 2010 6:23am May 4, 2010 6:23am
Quoting ira
Very good work with euro shorts people, too bad I wasn't with you on this one. I got scared with the tail. The new month has just started so let's make many pips.

Saka, good luck with your exams.
yes, the tail gave me reason for concern, too.
many more trades to come.
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