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4 Hour Strategy (MACD)

  • #23,081
  • Jun 22, 2010 4:11am Jun 22, 2010 4:11am
Quoting ashes
shorting cad at candle close, @1,0215 r=55

trading the bounce off the upper tl, candle closed below 21/8ema
Good luck. I like that trade.
  • #23,082
  • Jun 22, 2010 4:44am Jun 22, 2010 4:44am
Quoting xeneric
Good luck. I like that trade.
thank you ... shortly after I entered cad spiked up ... but still 0,5r to go to hit sl above tl
  • #23,083
  • Jun 22, 2010 5:43am Jun 22, 2010 5:43am
Quoting xeneric
Sorry you got stopped out. Looks like you were going in the right direction.
Ya, got it right but luck is not on my side. However, good to know that I am heading towards the right direction
  • #23,084
  • Jun 22, 2010 5:51am Jun 22, 2010 5:51am
Quoting silverfox88
Ya, got it right but luck is not on my side. However, good to know that I am heading towards the right direction
@Silverfox, at least you got stopped out be. I have taken so many be's lately that I have to convince me that it is still a win to take a be, since it protects the tradingcapital after having exposed it to risk.
an idea emerged taking 1/4 tp at the level to set a trade be, so that at least some profit has been made.
  • #23,085
  • Jun 22, 2010 8:29am Jun 22, 2010 8:29am
Quoting ashes
@Silverfox, at least you got stopped out be. I have taken so many be's lately that I have to convince me that it is still a win to take a be, since it protects the tradingcapital after having exposed it to risk.
an idea emerged taking 1/4 tp at the level to set a trade be, so that at least some profit has been made.
yes, you are right to say that.

Recent market is in consolidating phase and has been quite difficult to trade. My losses on AUDUSD last week and EURUSD this afternoon. At around evening time, I shorted USDCHF in office at 11084 but decided to cut loss at 11112 when I realized daily candle is pretty strong. I think my analysis is not up to standard yet and need more practice before I can become a full time trader.
  • #23,086
  • Jun 22, 2010 10:37am Jun 22, 2010 10:37am
USDCHF TC confirmed, as of now it has broken the H1 Channel.
There are about 80 pips from here to the H4 Channel boundary.



Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #23,087
  • Edited 7:07pm Jun 22, 2010 6:56pm | Edited 7:07pm
Quoting silverfox88
Ya, got it right but luck is not on my side. However, good to know that I am heading towards the right direction
This business is more about conserving capital than correct analysis. It helps to be right in your analysis but you did the right thing to conserve capital first and get out at break even.
  • #23,088
  • Jun 22, 2010 7:42pm Jun 22, 2010 7:42pm
Quoting davidwu61
USDCHF TC confirmed, as of now it has broken the H1 Channel.
There are about 80 pips from here to the H4 Channel boundary.


Hi David,

Thanks for your analysis. I like all the indicators on your 2nd chart like today's range, channel size etc. Where did you get them ? Do you have a template ?
  • #23,089
  • Jun 22, 2010 9:46pm Jun 22, 2010 9:46pm
I found the TC on EG daily, looks nice, have a look:
Attached Image (click to enlarge)
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  • #23,090
  • Jun 22, 2010 9:53pm Jun 22, 2010 9:53pm
Quoting xeneric
Hi David,

Thanks for your analysis. I like all the indicators on your 2nd chart like today's range, channel size etc. Where did you get them ? Do you have a template ?

xeneric,

http://www.forexfactory.com/showpost.php?p=3409533

Go to the above link.
Download the zip file, apply the template and delete stuff you do not like.
  • #23,091
  • Jun 23, 2010 4:22am Jun 23, 2010 4:22am
eu could give us a short signal in a few hours, bounce off 8/21ema. careful though, fomc statement later this day
  • #23,092
  • Jun 23, 2010 4:29am Jun 23, 2010 4:29am
Volume dries out easily even during London hours.
This is a typical stop-hunting open season.
  • #23,093
  • Jun 23, 2010 5:45am Jun 23, 2010 5:45am
Quoting davidwu61
Volume dries out easily even during London hours.
This is a typical stop-hunting open season.
Hi David,

What do you mean by stop hunting open season?
  • #23,094
  • Edited 2:26pm Jun 23, 2010 7:03am | Edited 2:26pm
shorting eu on gmt platform

trading the bounce off 21ema, after it had moved through 200 and came back to it

short@1,2269, r=55

edit:
0,5r reached, sl set to be, tp is 89sma @1,2187

edit:
fomc was not on my side .. sl be hit
Attached Image (click to enlarge)
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  • #23,095
  • Edited 7:29pm Jun 23, 2010 9:09am | Edited 7:29pm
Quoting ashes
shorting eu on gmt platform

trading the bounce off 21ema, after it had moved through 200 and came back to it

short@1,2269, r=55

edit:
0,5r reached, sl set to be, tp is 89sma @1,2187
Congras. I took the short trade in EJ earlier than you. I am still in the trade with a trailing stop of 30 pips with +112 pips now. Will post chart later.

Edit : Trailing stop hit. + 84 pips

Trade Entry

In EJ H4, price retraced to 89MA and bounced off it. Went for entry looking at H1 candle. Short entry at 111.04 with sl at 111.44, tp 110 pips.
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  • #23,096
  • Jun 23, 2010 10:44am Jun 23, 2010 10:44am
Quoting silverfox88
Hi David,

What do you mean by stop hunting open season?
For the market maker, the profit comes from the amount of transaction.
When lacking of participants, they will try to fill pending orders (most likely one's stop order) near by.

The time zone you are located makes life easier for you, as you can trade across the whole major trading hours. If you look at the AUDUSD on M15 chart in Today's London hour before US open, you'll see that it is very easy to get stop out (trend does not sustain).
  • #23,097
  • Jun 23, 2010 5:50pm Jun 23, 2010 5:50pm
Quoting davidwu61
For the market maker, the profit comes from the amount of transaction.
When lacking of participants, they will try to fill pending orders (most likely one's stop order) near by.

The time zone you are located makes life easier for you, as you can trade across the whole major trading hours. If you look at the AUDUSD on M15 chart in Today's London hour before US open, you'll see that it is very easy to get stop out (trend does not sustain).
Thanks for the explanation. By looking at your nick name, I though you are also located in Asia Cheers...
  • #23,098
  • Jun 23, 2010 9:12pm Jun 23, 2010 9:12pm
Quoting AlwaysLearn
Congras. I took the short trade in EJ earlier than you. I am still in the trade with a trailing stop of 30 pips with +112 pips now. Will post chart later.

Edit : Trailing stop hit. + 84 pips

Trade Entry

In EJ H4, price retraced to 89MA and bounced off it. Went for entry looking at H1 candle. Short entry at 111.04 with sl at 111.44, tp 110 pips.
good trade, well done
  • #23,099
  • Edited Jun 24, 2010 3:34am Jun 23, 2010 11:52pm | Edited Jun 24, 2010 3:34am
Long EURUSD at 12339 with sl @12289. Price has cross over EMA8,21 and also SMA200. Lets see how it develop from here.

Edit: sl triggered! Maybe this is a wrong trade again.
  • #23,100
  • Jun 24, 2010 3:46am Jun 24, 2010 3:46am
Ok, now it turned below 200 again. MACD now possible TC in another 1hr 15mins time. Wait for pull back to 21 to short? Is that the correct train of thought to trade Philip's system?

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