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4 Hour Strategy (MACD)

  • #23,221
  • Aug 12, 2010 1:11am Aug 12, 2010 1:11am
Forgot the chart...
Attached Image
  • #23,222
  • Aug 12, 2010 1:52am Aug 12, 2010 1:52am
I just entered long at 1.28653 with AT on EURUSD after EURUSD formed tweezer bottom on 200ma and 365ma. Tp in the middle of 21ma and 8ma. SL at 1.28653. Can someone verify that this is a valid trade?


http://img64.imageshack.us/img64/408/eurusdu.gif
  • #23,223
  • Aug 12, 2010 1:53am Aug 12, 2010 1:53am
Hi ira, which uploader did you use to upload a chart that clear? I use imageshack and my chart is small.
  • #23,224
  • Aug 13, 2010 3:52am Aug 13, 2010 3:52am
Quoting wuming79
I just entered long at 1.28653 with AT on EURUSD after EURUSD formed tweezer bottom on 200ma and 365ma. Tp in the middle of 21ma and 8ma. SL at 1.28653. Can someone verify that this is a valid trade?
There is absolutely nothing with your trade, as you know it is against the trend and the profit targets are 8, middle of the 8 and 21, and 21. In this case it went only to the 8, the moment down was very strong, look at the previous down move, but your worst case result would have been breakeven.

I don't use any programme, I save the picture from mt4, and then above the messege I click "attachments" and upload the chart.
  • #23,225
  • Aug 13, 2010 6:58am Aug 13, 2010 6:58am
Hi Ira,

I thought the confluence of the 2 ma with AT pattern provided a good countertrend trade.....I was so very wrong....by the way, what is the average number of trades do you get on EURUSD? I seems to always get in the trade when EURUSD already moved a lot. I'm wondering if there is a big candle formed when MACD showed a confirmation, it's not a good idea to enter anymore...but at that point, it's always 50/50 that maybe the momentum is so strong that it will continue the move. Is there anyway to clear up the direction to take even if it is going with the trend?
  • #23,226
  • Aug 14, 2010 6:02am Aug 14, 2010 6:02am
Quoting wuming79
Hi Ira,

I thought the confluence of the 2 ma with AT pattern provided a good countertrend trade.....I was so very wrong....by the way, what is the average number of trades do you get on EURUSD? I seems to always get in the trade when EURUSD already moved a lot. I'm wondering if there is a big candle formed when MACD showed a confirmation, it's not a good idea to enter anymore...but at that point, it's always 50/50 that maybe the momentum is so strong that it will continue the move. Is there anyway to clear up the direction to take even if it...
No, you weren't wrong, you made the right decision, you knew it was CT trade and you knew the targets.

In August I took only one trade, which I posted here. Since summer has started I see not many opportunities. In average maybe 2-4 trades a months on majors.

I never enter after big candles, the SL is too big, although here, on the thread you can find materials how to enter on big candles, Phillip taught us. I have learned to anticipate the possible move and to be in the trade before. But, of course not always, if I missed a trade, then let it be so, I just wait for the next.

If the trend is strong, go to 1h and enter there after retracment to the 8 or 21, the same stuff as 4hour. Hope it helps.
  • #23,227
  • Aug 14, 2010 9:24pm Aug 14, 2010 9:24pm
Thanks Ira, you reminded me of some technique which I did not follow again. Ok, need to reset my mind for reprogramming.
  • #23,228
  • Aug 16, 2010 4:14pm Aug 16, 2010 4:14pm
Quoting ira
No, you weren't wrong, you made the right decision, you knew it was CT trade and you knew the targets.

I never enter after big candles, the SL is too big, although here, on the thread you can find materials how to enter on big candles, Phillip taught us.
...
If the trend is strong, go to 1h and enter there after retracment to the 8 or 21, the same stuff as 4hour. Hope it helps.
Hi Ira, will you please show where I may find those materials, I still have problems with following MAs (when price goes to 21 and retraces to 8 for instance). Simply I do not follow price flow/rythm... Thanks.
  • #23,229
  • Aug 17, 2010 4:43am Aug 17, 2010 4:43am
Quoting lukis
Hi Ira, will you please show where I may find those materials, I still have problems with following MAs (when price goes to 21 and retraces to 8 for instance). Simply I do not follow price flow/rythm... Thanks.
Have you seen Phil's lessons on the 1st page? All the material is there. Hope this helps.
  • #23,230
  • Aug 18, 2010 1:56pm Aug 18, 2010 1:56pm
Quoting ira
Have you seen Phil's lessons on the 1st page? All the material is there. Hope this helps.
Hmmm, I am gonna dig the whole topic again deeper than before and then be back. Until then I will sure observing good traders posting here
  • #23,231
  • Aug 24, 2010 1:17am Aug 24, 2010 1:17am
I sold G/U yesterday. Reasons - TC from 21 with tail. I was concerned about 1.5500 level, but there was enough place to it to put my trade to breakeven. My target is 1.5368 - 365MA.
Attached Image
  • #23,232
  • Aug 24, 2010 5:56am Aug 24, 2010 5:56am
wow, great trade there. Target hit.

What SL level did you put? High of the tail? Or just 21ma?
  • #23,233
  • Aug 24, 2010 6:52pm Aug 24, 2010 6:52pm
TC on GBP
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  • #23,234
  • Aug 24, 2010 9:04pm Aug 24, 2010 9:04pm
Hi Moreland,

Same question from before. May I know your Stop Loss level?

I just shorted EURUSD at 1.26520. Stop loss 1.26841. Target 1.26050. I used 1hr to enter after the doji after 4hr showed TC.

Attached Image (click to enlarge)
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  • #23,235
  • Aug 25, 2010 2:10am Aug 25, 2010 2:10am
Quoting wuming79
wow, great trade there. Target hit.

What SL level did you put? High of the tail? Or just 21ma?
SL was initially above the tail, but quickly put to breakeven.
  • #23,236
  • Edited 8:21pm Aug 25, 2010 3:08am | Edited 8:21pm
Quoting wuming79
Hi Moreland,

Same question from before. May I know your Stop Loss level?

I just shorted EURUSD at 1.26520. Stop loss 1.26841. Target 1.26050. I used 1hr to enter after the doji after 4hr showed TC.

Attachment
You can see it, the SL is the red dotted line on the chart and the target 5291

Edit: still in the trade. I'm stuck in a consolidation phase. I still think it's going down. I'm basing off the daily and the break of previous support.

Edit 2: Out of trade...-50 pips
  • #23,237
  • Aug 25, 2010 5:56am Aug 25, 2010 5:56am
Hi Morelands,

Oh. I see. Sorry didn't notice that.

I broke even on my last trade....Should have taken 50% off when it's half way down....
  • #23,238
  • Aug 25, 2010 8:19am Aug 25, 2010 8:19am
Quoting wuming79
wow, great trade there. Target hit.

What SL level did you put? High of the tail? Or just 21ma?
Hi Wuming,

If you want to follow Ira's blog at her website strateg.org.ua (It is worth following because she posts all her trades there), you should translate it with "google translate". The translations are not perfect. In fact, there are some mistakes but it is better than no translation at all and it only takes a few minutes to translate. Hope that helps.
  • #23,239
  • Aug 25, 2010 3:57pm Aug 25, 2010 3:57pm
Quoting wuming79
Hi Morelands,

Oh. I see. Sorry didn't notice that.

I broke even on my last trade....Should have taken 50% off when it's half way down....
Not a problem
Raymond
  • #23,240
  • Aug 25, 2010 9:08pm Aug 25, 2010 9:08pm
Hi Xeneric. Thanks for the site :-)
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