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4 Hour Strategy (MACD)

  • #22,821
  • May 24, 2010 6:22pm May 24, 2010 6:22pm
Can anyone tell me what time does the next candlestick appear in daily chart in Singapore time?

Many thanks in advance
  • #22,822
  • Edited May 25, 2010 12:50am May 24, 2010 6:23pm | Edited May 25, 2010 12:50am
I have risked a long on usdchf on candle close. price crossed tl and then came back to 8sma, bounced off of it and closed above tl

half risk since it is an overnight trade and I can't move my sl

long@1,5194, r=70=sl=tp, r:r 1:1

edit:
the pair hardly moved. setting sl to be
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 4h 24.5.10a.gif Size: 12 KB
  • #22,823
  • May 24, 2010 10:53pm May 24, 2010 10:53pm
Quoting ashes
I have risked a long on usdchf on candle close. price crossed tl and then came back to 8sma, bounced off of it and closed above tl

half risk since it is an overnight trade and I can't move my sl

long@1,5194, r=70=sl=tp, r:r 1:1
Hi Ashes,

I see alot of tails in H1. You might want to becareful.
  • #22,824
  • May 25, 2010 12:53am May 25, 2010 12:53am
Quoting silverfox88
Hi Ashes,

I see alot of tails in H1. You might want to becareful.
yes. looks like it wants to go sideways again. trade is be now
  • #22,825
  • May 25, 2010 5:58am May 25, 2010 5:58am
I took U/J TC from 21, there is also a round number. Entry 89.90, sl 90.21, tp 89.07. I have put lots to b/e already.
Attached Image
  • #22,826
  • May 25, 2010 9:04am May 25, 2010 9:04am
Quoting ira
I took U/J TC from 21, there is also a round number. Entry 89.90, sl 90.21, tp 89.07. I have put lots to b/e already.
Hi Ira,

Can I check, 31 pips of sl, will it get hit very easily? Is there enough breathing space?
  • #22,827
  • May 25, 2010 10:02am May 25, 2010 10:02am
today was a pretty frustrating day, last night I have seen signals on cad, aud and usdchf, but I entered only on usdchf.
all the trades would have reached their target. unfortunately, since usdchf has moved that little, I have set it be. wrong.
it shows again that finding a good trademanagement is the main issue.
  • #22,828
  • May 25, 2010 11:24am May 25, 2010 11:24am
Quoting silverfox88
Hi Ira,

Can I check, 31 pips of sl, will it get hit very easily? Is there enough breathing space?
I hid the sl above big round number 90.00 and Fib level.
  • #22,829
  • May 25, 2010 12:48pm May 25, 2010 12:48pm
I like this long on cable. First trouble area I think would be 1.4474

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd100525h4.gif Size: 13 KB


Some bullish divergence off support levels gives me some confidence with the counter trend aspect.
Gone to a better place
  • #22,830
  • May 25, 2010 7:52pm May 25, 2010 7:52pm
Quoting ira
I hid the sl above big round number 90.00 and Fib level.
May I know what do you mean by big round number? You mean big buyer normally action at these big numbers?
  • #22,831
  • May 25, 2010 7:53pm May 25, 2010 7:53pm
Quoting smikester
I like this long on cable. First trouble area I think would be 1.4474

Attachment

Some bullish divergence off support levels gives me some confidence with the counter trend aspect.
I also see that but try to avoid CT. Hope you make lots of pips from this cable move.
  • #22,832
  • May 25, 2010 8:06pm May 25, 2010 8:06pm
Quoting silverfox88
I also see that but try to avoid CT. Hope you make lots of pips from this cable move.
It's not counter trend b/c price is not trending right now. Price is in a consolidation period and he's playing off the bottom support. Hope this helps
Raymond
  • #22,833
  • May 25, 2010 8:19pm May 25, 2010 8:19pm
Quoting Morelands
It's not counter trend b/c price is not trending right now. Price is in a consolidation period and he's playing off the bottom support. Hope this helps
Raymond
Hi Morelands,

Thank you for your guidance! It's good to learn from you guys.
  • #22,834
  • May 25, 2010 8:30pm May 25, 2010 8:30pm
Just when I though there is strong support from bottom, selling seems to be starting again. Watch closely for next H4 closing.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.gif Size: 21 KB
  • #22,835
  • May 25, 2010 9:33pm May 25, 2010 9:33pm
Quoting silverfox88
Just when I though there is strong support from bottom, selling seems to be starting again. Watch closely for next H4 closing.
If you look at it, it seems to be just a retracement to 21MA.
  • #22,836
  • Edited 11:04pm May 25, 2010 10:46pm | Edited 11:04pm
Quoting AlwaysLearn
If you look at it, it seems to be just a retracement to 21MA.
Agreed. monitor closely now...

12pm Singapore time: TC pattern not out, so continue to wait...
  • #22,837
  • May 26, 2010 12:35am May 26, 2010 12:35am
Quoting silverfox88
I also see that but try to avoid CT. Hope you make lots of pips from this cable move.
Thank you. You know, I only broke even.
Gone to a better place
  • #22,838
  • May 26, 2010 12:41am May 26, 2010 12:41am
Quoting silverfox88
May I know what do you mean by big round number? You mean big buyer normally action at these big numbers?
Big round number is 1.30, 1.25, 1.20 etc. for EUR. There is a theory that Market Makers trade out of these levels. Actually, I don't know the reason, but if you look back, you'll see that price really respects them. For me these levels are strong support/resistance levels and add confidence to the trade. Hope this helps.

Ira
  • #22,839
  • May 26, 2010 1:06am May 26, 2010 1:06am
Quoting ira
Big round number is 1.30, 1.25, 1.20 etc. for EUR. There is a theory that Market Makers trade out of these levels. Actually, I don't know the reason, but if you look back, you'll see that price really respects them. For me these levels are strong support/resistance levels and add confidence to the trade. Hope this helps.

Ira
Thanks for your guidance too. I just shorted EURUSD (when H1 candle show three method) at 12285 with sl at 12351. Just learn from you to put my sl 1 pip higher big number. Hope I have done it correctly
  • #22,840
  • May 26, 2010 1:16am May 26, 2010 1:16am
Quoting silverfox88
Thanks for your guidance too. I just shorted EURUSD (when H1 candle show three method) at 12285 with sl at 12351. Just learn from you to put my sl 1 pip higher big number. Hope I have done it correctly
think e big numbers refer to 12300 12400 instead of 12351 . and u might need to add in spread depends on u are LONG or SHORT
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