4 Hour Strategy (MACD) | Page 1153 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

4 hour strategy (the nausbot - 4 hour trader) 25 replies

4 Hour Strategy Macd+other Indicator 21 replies

X-1102 1 hour , 4 hour and daily Tf trades 7 replies

Create a verticle line at certain hour for every certain hour 16 replies

Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies

Attachments: 4 Hour Strategy (MACD)
Exit Attachments

4 Hour Strategy (MACD)

  • #23,041
  • Edited 2:38am Jun 17, 2010 2:05am | Edited 2:38am
eurusd has bounced off 21ema with a lot of momentum. it broke through upper tl is now possibly going to struggle around the upper resistance before reaching 200sma

since the candle was huge at close I have placed a long order @1,2319, r=80 above the tl, counting on a retracement before price hopefully moves to 200sma, where my profit target is placed

edit:
price didn't come back to 1,2319 and has reached virtual 0,5r mark. order cancelled
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4h 17.6.10.gif Size: 15 KB
  • #23,042
  • Jun 17, 2010 2:36am Jun 17, 2010 2:36am
GU bounced off the trendline. On the 4 hr chart, GU bounced off the 200 SMA and pulled above the 21 & 8 EMAs.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu4hr.gif Size: 19 KB
Click to Enlarge Name: gu1hr.gif Size: 16 KB
  • #23,043
  • Jun 17, 2010 2:40am Jun 17, 2010 2:40am
Quoting xeneric
GU bounced off the trendline. On the 4 hr chart, GU bounced off the 200 SMA and pulled above the 21 & 8 EMAs.
for an entry I'd like the price to come back to 8/21ema and bounce off of one or the other
  • #23,044
  • Edited 3:22am Jun 17, 2010 2:55am | Edited 3:22am
Quoting ashes
for an entry I'd like the price to come back to 8/21ema and bounce off of one or the other
Hi Ashes,
Yes, unfortunately, the 4 hr candles are very big again. You could possibly use a lower time frame for entry next time.
  • #23,045
  • Jun 17, 2010 3:25am Jun 17, 2010 3:25am
Quoting xeneric
Hi Ashes,
Yes, unfortunately, the 4 hr candles are very big again. You could possibly use a lower time frame for entry next time.
Hi Ashes, Xeneric,

Ya, the candles are too big... Didn't give us enough time and chances to enter again
  • #23,046
  • Jun 17, 2010 3:31am Jun 17, 2010 3:31am
Quoting silverfox88
Hi Ashes, Xeneric,

Ya, the candles are too big... Didn't give us enough time and chances to enter again
Normally you would enter after the first 4 hr big candle which was confirmed by a macd TC as on the chart that I posted, but in this case, it was facing resistance. When resistance got broken, it was a bit late for entry for most because it moved so fast.
  • #23,047
  • Jun 17, 2010 4:19am Jun 17, 2010 4:19am
Here's an interesting question. If the price comes up to test an important weekly/monthly resistance level and fails to break it after 3 days and there is bearish divergence on most oscillators, what will happen next? I'm not sure. I'm thinking bearish.

Here is the weekly chart:

Attached Image (click to enlarge)
Click to Enlarge Name: audusd100617w1.gif Size: 18 KB


and here is the divergence I mentioned:

Attached Image (click to enlarge)
Click to Enlarge Name: audusd100617h4.gif Size: 21 KB
Gone to a better place
  • #23,048
  • Jun 17, 2010 5:05am Jun 17, 2010 5:05am
Quoting smikester
Here's an interesting question. If the price comes up to test an important weekly/monthly resistance level and fails to break it after 3 days and there is bearish divergence on most oscillators, what will happen next? I'm not sure. I'm thinking bearish.

Here is the weekly chart:

Attachment

and here is the divergence I mentioned:

Attachment
thank you for pointing this out. all the mentioned factors stack the odds in favour of bearish. also when checking the 1h we see that price has tested the resistance area for three times. right now we're at the fourth point of contact. I'd trade such a well tested resistance rather like a bounce than like a break. ... but forex oftentimes fools us by it's irrationalism ... so I don't know. ... maybe the price sets the resistance area under pressure, for it to break .....
  • #23,049
  • Jun 17, 2010 12:54pm Jun 17, 2010 12:54pm
Quoting ashes
@ira, I hope you're still riding the usdchf short
No, ashes, I was closed b/e at night and then it fell. Happens from time to time.
  • #23,050
  • Jun 17, 2010 10:05pm Jun 17, 2010 10:05pm
Long AUDUSD at 0.8697 with sl at 0.8647
Let's see how it develop from here...
  • #23,051
  • Edited 10:56pm Jun 17, 2010 10:16pm | Edited 10:56pm
Quoting silverfox88
Long AUDUSD at 0.8697 with sl at 0.8647
Let's see how it develop from here...
I think that it is too close to long term resistance...let's see how it develops.
Attached Image (click to enlarge)
Click to Enlarge Name: auh1.gif Size: 22 KB
  • #23,052
  • Edited 10:31pm Jun 17, 2010 10:30pm | Edited 10:31pm
Looks like EURUSD is going to form another TC with SMA200 as support. Is TC pattern traceable with price touching EMA8 without pulling back to 21?

http://img101.imageshack.us/img101/9351/eurusd2.gif
  • #23,053
  • Edited Jun 18, 2010 12:09am Jun 17, 2010 10:59pm | Edited Jun 18, 2010 12:09am
Quoting wuming79
Looks like EURUSD is going to form another TC with SMA200 as support. Is TC pattern traceable with price touching EMA8 without pulling back to 21?


If it pulls back to the 8 EMA without pulling back to the 21 EMA then it is a strong trend but we may be seeing some major resistance soon so be careful.
  • #23,054
  • Jun 18, 2010 12:24am Jun 18, 2010 12:24am
Quoting xeneric
If it pulls back to the 8 EMA without pulling back to the 21 EMA then it is a strong trend but we may be seeing some major resistance soon so be careful.
I agree, I wouldn't trade a long eu now. it is stalling at 200sma after a long upmove. I'd give it a day or two to establish further direction.
all the other pairs seem to have put their breaks on too, so most probably tc trading starts after the weekend again. but we shall see ...
  • #23,055
  • Edited 6:43pm Jun 18, 2010 5:02am | Edited 6:43pm
Quoting xeneric
I think that it is too close to long term resistance...let's see how it develops.
You are right about the resistance. Did not see the EMA365 resistance in H4 and also the fact the MACD in Daily is very over bought. Cut my loss at 0.8684 and lost 13 pips. I can see in H4 that the previous candle hanging man is confirmed and price might come down from here. Guess I did not control my patience good enough this time. Will wait patiently for the next opportunity.
  • #23,056
  • Edited 8:17am Jun 18, 2010 6:12am | Edited 8:17am
Just wonder if there is anyone here shorting GBPUSD on pin bar and divergence?

EDIT: BE (Stopped Out!)
Attached Image
  • #23,057
  • Jun 19, 2010 12:29am Jun 19, 2010 12:29am
Quoting hammerhead
Just wonder if there is anyone here shorting GBPUSD on pin bar and divergence?

EDIT: BE (Stopped Out!)
I took this trade too, although was not very happy with it, as it was Friday. I also was stopped at b/e, thought I think it may run on Monday, but I won't re-enter.
  • #23,058
  • Edited Jun 21, 2010 12:02am Jun 20, 2010 5:42pm | Edited Jun 21, 2010 12:02am
This could explain the euphoria on the Asian open and the gap. It was in the local paper, the Sydney Morning Herald this morning.

"The Australian share market is poised resume its winning run today as investors eye record gold prices and China's announcement that it will let its currency strengthen. The Australian dollar has already risen on the Chinese move.

The Chinese central bank announced that it would end its two-year peg to the US dollar one week before the Group of 20 summit in a move that will defuse tensions at the summit and shift the spotlight back onto Europe's sovereign debt issues, CommSec chief economist Craig James said.

The Australian dollar gained on the news, rising in recent trading to 88.1 US cents, 59.3 pence, 70.9 euro cents and 79.7 yen.

The decision, made public on Saturday, would have more impact on the local equity market if China had disclosed the timing of the policy shift, he said.

''But it is a vote of confidence in the Chinese economy that they're likely to accept a stronger currency,'' he said.

''Potentially it also means good news for Australia because if the Chinese currency does strengthen it will improve their ability to buy metals and commodities generally from Australia.''"
  • #23,059
  • Jun 20, 2010 6:30pm Jun 20, 2010 6:30pm
Wow gap closed in EURUSD with gigantic red candle in just 15mins!

http://img340.imageshack.us/img340/9351/eurusd2.gif

Uploaded with ImageShack.us
  • #23,060
  • Jun 20, 2010 6:34pm Jun 20, 2010 6:34pm
Quoting wuming79
Wow gap closed in EURUSD with gigantic red candle in just 15mins!



Uploaded with ImageShack.us
Yes, I took that short on EU. I didn't expect the gap to close so soon and not during the Asian session.
14 traders viewing now