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4 Hour Strategy (MACD)

  • #23,341
  • Sep 14, 2010 8:45am Sep 14, 2010 8:45am
Quoting yuan83
i using ibfx too. if only they have apps for apple or androoid
Ya, they only support Window platform but I prefer Android. They said they will have their own platform for Android next year but I just cannot wait till then
  • #23,342
  • Sep 14, 2010 11:29am Sep 14, 2010 11:29am
Quoting silverfox88
Ya, they only support Window platform but I prefer Android. They said they will have their own platform for Android next year but I just cannot wait till then
o gd to hear tt.. then looks like i have to get a htc instead of iphone, though i will love to have an ipad to trade.
  • #23,343
  • Edited 9:22pm Sep 14, 2010 5:57pm | Edited 9:22pm
Quoting silverfox88
Shorted EURJPY at 106965 with 50 pips sl and tp accordingly...

sl triggered Where is my mistake?

You took a short right on the trendline. See Phil's weekly anticipation for EJ and EU DAILY CHARTS.
Attached Image (click to enlarge)
Click to Enlarge Name: ejh1.gif Size: 21 KB
  • #23,344
  • Sep 14, 2010 6:00pm Sep 14, 2010 6:00pm
Here is Phil's weekly anticipation. It is now on video so easier to understand.
Attached File(s)
File Type: zip WeeklyAnticipation.zip   1.3 MB | 628 downloads
  • #23,345
  • Sep 14, 2010 11:23pm Sep 14, 2010 11:23pm
Quoting xeneric
You took a short right on the trendline. See Phil's weekly anticipation for EJ and EU DAILY CHARTS.
Hi Xeneric,

Thanks for your guidance. Will watch Phil's weekly anticipation closely in future. Another lesson learned.
  • #23,346
  • Edited 5:09am Sep 15, 2010 12:05am | Edited 5:09am
Quoting silverfox88
Hi Xeneric,

Thanks for your guidance. Will watch Phil's weekly anticipation closely in future. Another lesson learned.
Yes, Phil's analysis is very good. In my case, it was profitable too. I was already long EJ, and then when I saw UJ at the 83.00 level today, I took a long on UJ thinking that I will do a quick countertrend trade. Who would have thought that the BOJ would intervene like it did ? It is very unusual but they obviously thought that the yen was too high. Unfortunately I took profit at last resistance and it kept going up. Anyhow it was still very good profit but it wasn't a 4 hr macd trade.

Apparently it is the first time in 6 years that the BOJ have intervened with the yen.
  • #23,347
  • Sep 15, 2010 5:30am Sep 15, 2010 5:30am
Quoting xeneric
Yes, Phil's analysis is very good. In my case, it was profitable too. I was already long EJ, and then when I saw UJ at the 83.00 level today, I took a long on UJ thinking that I will do a quick countertrend trade. Who would have thought that the BOJ would intervene like it did ? It is very unusual but they obviously thought that the yen was too high. Unfortunately I took profit at last resistance and it kept going up. Anyhow it was still very good profit but it wasn't a 4 hr macd trade.

Apparently it is the first time in 6 years that the BOJ have...
You are right. In forex market, one single news can move the pair up or down like no body business. But as long as it is a profitable trade, we should be happy enough
  • #23,348
  • Sep 15, 2010 10:00am Sep 15, 2010 10:00am
Pattern: Trend Continue

Current in an uptrend. Support on 8EMA.

What do you guys think? R:R not good enough?

http://forex.sharevine.com/images/EU...1284552000.gif
  • #23,349
  • Sep 15, 2010 7:22pm Sep 15, 2010 7:22pm
Quoting sodeypunk
Pattern: Trend Continue

Current in an uptrend. Support on 8EMA.

What do you guys think? R:R not good enough?
Hi sodeypunk

The 1.3000 level is a round number level and I would expect resistance here and even a pullback before continuing on.
  • #23,350
  • Sep 15, 2010 7:32pm Sep 15, 2010 7:32pm
GU is in a daily trend now. There was a nice TC yesterday. I was waiting for it but the volatility caused by the yen devaluation created a lot of volatility in GU and when it finally settled down and moved in the right direction, I was asleep.
Attached Image (click to enlarge)
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  • #23,351
  • Sep 15, 2010 9:35pm Sep 15, 2010 9:35pm
Quoting xeneric
Hi sodeypunk

The 1.3000 level is a round number level and I would expect resistance here and even a pullback before continuing on.
Thanks xeneric, i always forget about the round numbers.
  • #23,352
  • Sep 15, 2010 10:07pm Sep 15, 2010 10:07pm
Pattern: round top
target: 40 pips @ 8 ema
stop: 50 pips above high of candle
news: no significant news
R:R - 50:40

http://forex.sharevine.com/images/GB...1284595200.gif
  • #23,353
  • Edited 3:52am Sep 16, 2010 3:40am | Edited 3:52am
Quoting sodeypunk
Pattern: round top
target: 40 pips @ 8 ema
stop: 50 pips above high of candle
news: no significant news
R:R - 50:40
That was a nice CT trade, sodeypunk. Worked out well for you but they can be quite risky with a strong trend.
  • #23,354
  • Sep 16, 2010 4:07am Sep 16, 2010 4:07am
Quoting sodeypunk
Pattern: round top
target: 40 pips @ 8 ema
stop: 50 pips above high of candle
news: no significant news
R:R - 50:40

http://forex.sharevine.com/images/GB...1284595200.gif
risk more than reward though if u ask me
  • #23,355
  • Edited Sep 17, 2010 2:51am Sep 16, 2010 4:23am | Edited Sep 17, 2010 2:51am
have taken

long usdjpy @85,55, r=75
short usdchf @1,0016, r=50
short usdcad @1,0259, r= 70

all entries on 4h

usdchf is critical because it goes against round number, but I take the risk, chart looks good

edit:

usdchf took sl ... news

edit:

usdjpy reached 0,5r, sl to be

edit:

usdcad reached 0,5r, sl to be
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdchf 4h 16.9.10.gif Size: 10 KB
Click to Enlarge Name: cad 4h 16.9.10.gif Size: 10 KB
  • #23,356
  • Sep 16, 2010 11:24am Sep 16, 2010 11:24am
xeneric, just curious...how long have you been trading this strategy? are you profitable yet? your advices are great.
  • #23,357
  • Sep 16, 2010 4:29pm Sep 16, 2010 4:29pm
I expect a bounce off the upper tl, maybe we get an entry on 4h next week

another possibility of course could be a break, forming an descending h&s, also here 4h tf may offer an entry

what do you think?
Attached Image (click to enlarge)
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  • #23,358
  • Sep 16, 2010 9:57pm Sep 16, 2010 9:57pm
Quoting ashes
I expect a bounce off the upper tl, maybe we get an entry on 4h next week

another possibility of course could be a break, forming an descending h&s, also here 4h tf may offer an entry

what do you think?
i think if a round top or an aggressive turnaround pattern formed on the resistance line, it would be a good entry. lets just see what macd and candle patterns form around that area next week.
  • #23,359
  • Sep 17, 2010 3:00am Sep 17, 2010 3:00am
This morning I was thinking to long GBPUSD at the red arrow point when it retrace back to EMA8. Daily has bounce off EMA21 with MACD confirmation. However, MACD in H4 have not confirmed, so I was thinking to wait for 12pm confirmation but the price just fly without me Guess I have to learn to read daily, H4 and H1 for better entry signals...
Attached Image (click to enlarge)
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  • #23,360
  • Sep 17, 2010 9:07pm Sep 17, 2010 9:07pm
Quoting ashes
I expect a bounce off the upper tl, maybe we get an entry on 4h next week

another possibility of course could be a break, forming an descending h&s, also here 4h tf may offer an entry

what do you think?
I agree with your analysis. I am expecting a bounce off TL too.
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