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4 Hour Strategy (MACD)

  • #23,101
  • Jun 24, 2010 3:48am Jun 24, 2010 3:48am
Quoting silverfox88
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.
Uploaded the chart for you.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 353 KB
  • #23,102
  • Jun 24, 2010 4:05am Jun 24, 2010 4:05am
Quoting wuming79
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?
yes, that's how I would trade it. the only thing is, that I'd assume a short not by the close of the actual candle, but by the following.
actual candle should be the correction candle, the following would be the start of downmove candle, in order to have a nice bounce off 200sma 8/21ema.
  • #23,103
  • Jun 24, 2010 4:10am Jun 24, 2010 4:10am
I made about 8 trades this month with winning and losing positions mixed. My result is about +76 pips till date and personally think that this is a difficult month! Just wondering if anyone has the same feeling about this month being difficult? Not sure why my emotion is slightly affected by this EURUSD and think I should turn off the PC for awhile to cool down…
  • #23,104
  • Jun 24, 2010 4:10am Jun 24, 2010 4:10am
Quoting silverfox88
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.
@Silverfox, sorry for you sl. you might have had in mind to trade a bounce off 8ema. but as you see, the 8 was still below the 21ema. wait for the two ema's to adjust before taking a trade (8 on top of 21 for long, opposite for short). also you've entered almost on the 200sma. if the 200 had been crossed, always wait for a retrace to it and then trade the bounce off it.
hope this helps.
  • #23,105
  • Jun 24, 2010 4:13am Jun 24, 2010 4:13am
Quoting silverfox88
I made about 8 trades this month with winning and losing positions mixed. My result is about +76 pips till date and personally think that this is a difficult month! Just wondering if anyone has the same feeling about this month being difficult? Not sure why my emotion is slightly affected by this EURUSD and think I should turn off the PC for awhile to cool down…
actually being with 76 pips in plus for this month is a pretty good quote. very few decisive movenments, a lot of back and forth.
  • #23,106
  • Jun 24, 2010 4:16am Jun 24, 2010 4:16am
Here's a chart I noticed:

http://www.forexfactory.com/showpost...postcount=3256
Gone to a better place
  • #23,107
  • Jun 24, 2010 5:11am Jun 24, 2010 5:11am
Quoting silverfox88
I made about 8 trades this month with winning and losing positions mixed. My result is about +76 pips till date and personally think that this is a difficult month! Just wondering if anyone has the same feeling about this month being difficult? Not sure why my emotion is slightly affected by this EURUSD and think I should turn off the PC for awhile to cool down…
I agree. From my perspective this is also difficult month even when compared to May.
I took more trades and wanted to catch bigger moves however there are ups and downs... Also I've lost some profits due to poor MM (bigger SL due to ups/downs and finally out of trade).
  • #23,108
  • Jun 24, 2010 6:15am Jun 24, 2010 6:15am
Alwayslearn,

Thanks for the chart.

Ashes,

Thanks for your guidance.

Smikester,

Thanks for the link

Lukis,

Thanks for your comment.

Guess I am still in the learning stage and not graduate yet Looking forward to learn more from you guys
  • #23,109
  • Edited 7:50am Jun 24, 2010 7:11am | Edited 7:50am
preparing for a short on eurusd after newsrelease at candle close in about 45min, if price doesn't run off

edit:
no short yet, maybe in 4h
  • #23,110
  • Edited 9:30am Jun 24, 2010 8:28am | Edited 9:30am
Quoting ashes
preparing for a short on eurusd after newsrelease at candle close in about 45min, if price doesn't run off

edit:
no short yet, maybe in 4h
I shorted 12274 when px come down below 200, 21 and 8. However, px suddenly turn up again and sl 12324 almost hit , still struggling now...

Got stop out and lost another 50 pips......
  • #23,111
  • Jun 24, 2010 8:57am Jun 24, 2010 8:57am
I really don't have any idea what's up with the market these days. It always change its direction and took my SL.
Got BE on this one again...
Attached Image
  • #23,112
  • Jun 24, 2010 9:17am Jun 24, 2010 9:17am
Quoting hammerhead
I really don't have any idea what's up with the market these days. It always change its direction and took my SL.
Got BE on this one again...
At lease you got a BE, my is suffering for losses now...Hope I have a chance to stop at BE. This month is a tough month because all pairs are in consolidation phrase and I was not patience enough to wait for the time to come... Must learn my lesson
  • #23,113
  • Jun 24, 2010 9:52am Jun 24, 2010 9:52am
Quoting hammerhead
I really don't have any idea what's up with the market these days. It always change its direction and took my SL.
Got BE on this one again...
oh, yes. it's tough to make a living in june . at least you got a be.
  • #23,114
  • Jun 24, 2010 9:57am Jun 24, 2010 9:57am
Quoting silverfox88
I shorted 12274 when px come down below 200, 21 and 8. However, px suddenly turn up again and sl 12324 almost hit , still struggling now...

Got stop out and lost another 50 pips......
sorry for your sl again. I don't understand why you've shorted. have you waited for your 4h candle to close? or have you entered in anticipation of a downmove after your long trade didn't work out? be careful not to get impatient and desperate. don't trade for revenge.
  • #23,115
  • Jun 24, 2010 10:10am Jun 24, 2010 10:10am
Quoting ashes
sorry for your sl again. I don't understand why you've shorted. have you waited for your 4h candle to close? or have you entered in anticipation of a downmove after your long trade didn't work out? be careful not to get impatient and desperate. don't trade for revenge.
I shorted because of the engulfing bearish pattern plus px went below 200/21/8 moving average. I shorted when the 4h candle closed. I admit that I wanted to win back my previous losses which affected my emotion and analysis. It's hard to control emotion and be patience but I am going to try very hard to make it happen.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.gif Size: 23 KB
  • #23,116
  • Jun 24, 2010 10:53am Jun 24, 2010 10:53am
Ok, I entered as ZB....but price went right back up....now MACD is like near flat with mini humps....now what's the correct plan? It might show a few more "ZB" and price might whipsaw here. Do we wait for MACD to show more obvious pattern? Or wait for TC to complete in the next 2 hours?

http://img695.imageshack.us/img695/6536/eurusd4hr.gif

Uploaded with ImageShack.us
  • #23,117
  • Jun 24, 2010 1:07pm Jun 24, 2010 1:07pm
Hi,
I wanted to see market more clear this month and trying to add some indicators and pivots. This only resulted in dissapointment. I have sometimes the feeling I have to learn and start over. See what I found on post #56:

Quoting Phillip Nel
I don't really use pivots unless there is no indicator to set my profit target to and that havent happend yet. As to entry one can get to much involved in indicators and again does not know when to pull the trigger as out of three indicators one is in contradiction to the other and it becomes more confusing. I like it simple.
Does enyone has summarized price flow/rythm (price has broken down through the 89SMA and a pullback to the 21EMA... and so on) or knows where I can find it?
http://cdn.forexfactory.com/images/icons/icon7.gif
  • #23,118
  • Jun 24, 2010 1:25pm Jun 24, 2010 1:25pm
Quoting silverfox88
I shorted because of the engulfing bearish pattern plus px went below 200/21/8 moving average. I shorted when the 4h candle closed. I admit that I wanted to win back my previous losses which affected my emotion and analysis. It's hard to control emotion and be patience but I am going to try very hard to make it happen.
I understand the reason of your entry. actually your entry according to the signalcandle did not look too bad. short candle with shadow reaching up to 21ema, 200sma. I remember having spotted this on the gmt+3 platform. but since news were to be announced 30min after candle close, I decided to use the gmt+2 platform for signal evaluation for 4h entry. one hour later the signal had dissolved. however, I have given it a try with half risk right before news on 1h, which gave me a sl. http://www.forexfactory.com/showthre...16#post3814116
  • #23,119
  • Jun 24, 2010 1:46pm Jun 24, 2010 1:46pm
Quoting lukis
Hi,
I wanted to see market more clear this month and trying to add some indicators and pivots. This only resulted in dissapointment. I have sometimes the feeling I have to learn and start over. See what I found on post #56:



Does enyone has summarized price flow/rythm (price has broken down through the 89SMA and a pullback to the 21EMA... and so on) or knows where I can find it?
http://cdn.forexfactory.com/images/icons/icon7.gif
check for Philips posts and files about marketrhythm, like this one
http://www.forexfactory.com/showpost...ostcount=13037
  • #23,120
  • Edited Jun 25, 2010 7:56am Jun 24, 2010 1:55pm | Edited Jun 25, 2010 7:56am
audusd may offer us an entry at candle close ....

edit:
shorting audusd@0,8670, r=80 (10 min before candle close because I have no time to wait for candle close)

edit:
0,5r reached, sl set be

edit:
sl be hit
Attached Image (click to enlarge)
Click to Enlarge Name: aud 4h 23.6.10.gif Size: 11 KB
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