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4 Hour Strategy (MACD)

  • #23,541
  • Edited Nov 19, 2010 8:03am Nov 18, 2010 12:05pm | Edited Nov 19, 2010 8:03am
long usdcad, bounce off 200/21

r=atr21*2

edit:
sl moved to be after 0,5r.
price has bounced off this mark before, now it may break it or I go out be
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  • #23,542
  • Nov 18, 2010 5:51pm Nov 18, 2010 5:51pm
Quoting ashes
congrats to the jpy traders
Thanks Hammerhead and ashes. My position in UJ is still fighting. I have change my sl to 25 pips instead of 50 pips. TP set at 50 pips for 1/2 position and the other half leave open to let it run. Hope it will run towards my direction
  • #23,543
  • Nov 18, 2010 5:56pm Nov 18, 2010 5:56pm
I am very tempted to take this position:

To long EURUSD because it has crosses over EMA21, move back and move away. To me, the target now is at SMA89. However, since I have a position in longing USDJPY, does it mean if USDJPY goes up, EURUSD will go down and I am contradicting myself? Anyone care to share?
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  • #23,544
  • Edited 10:22pm Nov 18, 2010 9:46pm | Edited 10:22pm
Quoting silverfox88
Thanks Hammerhead and ashes. My position in UJ is still fighting. I have change my sl to 25 pips instead of 50 pips. TP set at 50 pips for 1/2 position and the other half leave open to let it run. Hope it will run towards my direction
Price has retrace about 50% in H1. It looks increasingly possible that it will test 61.8%
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  • #23,545
  • Nov 19, 2010 2:26am Nov 19, 2010 2:26am
Quoting silverfox88
Price has retrace about 50% in H1. It looks increasingly possible that it will test 61.8%
This position turned out to be a loss position when I cut loss and lost 10 pips when the price retrace more than 61.8% in H1. Just wondering where is my mistake?
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  • #23,546
  • Nov 19, 2010 3:01am Nov 19, 2010 3:01am
Quoting silverfox88
I am very tempted to take this position:

To long EURUSD because it has crosses over EMA21, move back and move away. To me, the target now is at SMA89. However, since I have a position in longing USDJPY, does it mean if USDJPY goes up, EURUSD will go down and I am contradicting myself? Anyone care to share?
After cut loss on UJ, I went long in EU at 136888...
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  • #23,547
  • Nov 19, 2010 4:11am Nov 19, 2010 4:11am
Quoting silverfox88
This position turned out to be a loss position when I cut loss and lost 10 pips when the price retrace more than 61.8% in H1. Just wondering where is my mistake?
Hi,
My thought is that, it is possible the move down is because on daily chart price hit 89....
  • #23,548
  • Nov 19, 2010 4:14am Nov 19, 2010 4:14am
A possible TC on daily chart for AUDUSD. will see next week...
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  • #23,549
  • Nov 19, 2010 5:22am Nov 19, 2010 5:22am
Hello Phillip, Ira, Saka, Ashes, silverfox and all,

Took a stupid decision today. I had a long in eurusd @ 1.3636 and just took profit for +34 pips due to 1.3670 price level, then move to long audusd as i thought that i seen a nice pin bar with body hanging onto 200 and off 21. Guess what? Stupid mistake! I shouldn't change my position and move into another pair. Result only in BE today. Still wonder why that nice pin bar didn't work in audusd? I know that Ira favor in that kind of setup pin bar off 21 such in audusd. Maybe Ira can help?
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  • #23,550
  • Nov 19, 2010 5:30am Nov 19, 2010 5:30am
Quoting hammerhead
Hello Phillip, Ira, Saka, Ashes, silverfox and all,

Took a stupid decision today. I had a long in eurusd @ 1.3636 and just took profit for +34 pips due to 1.3670 price level, then move to long audusd as i thought that i seen a nice pin bar with body hanging onto 200 and off 21. Guess what? Stupid mistake! I shouldn't change my position and move into another pair. Result only in BE today. Still wonder why that nice pin bar didn't work in audusd? I know that Ira favor in that kind of setup pin bar off 21 such in audusd. Maybe Ira can help?
Yes, looks really nice, if I was near my PC I would have probably jumped. But look at the MACD, candle didn't close and TC was still forming. So there would not be loss if we followed Phil's rules))).
  • #23,551
  • Nov 19, 2010 7:01am Nov 19, 2010 7:01am
Quoting Borism
A possible TC on daily chart for AUDUSD. will see next week...
I have a short sentiment on audusd, too. still maintaining an open trade since 9th nov I hope for the lower tl to break by next week
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  • #23,552
  • Nov 19, 2010 7:21am Nov 19, 2010 7:21am
hi Hammerhead,

I see every pair as seperate, alltough they all correlate somehow. Your entires on both are understandable. yesterday evening there was a lot of indecision about the fürther direction of eurusd and audusd, maybe that's why the pinbar did not work out.

Regards
  • #23,553
  • Edited 8:01am Nov 19, 2010 7:47am | Edited 8:01am
Thank you Ira & ashes for the inputs. I just fixed my drawing on audusd. This is what I found. Funny when you notice there were trendline that acts as a S/R there.

Also another one for gbpusd. I wish I know earlier.... That doji on top is a good turnover signal...
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  • #23,554
  • Nov 19, 2010 8:18am Nov 19, 2010 8:18am
Quoting hammerhead
Also another one for gbpusd. I wish I know earlier.... That doji on top is a good turnover signal...
true with gbpusd, that would have been a nice tl bounce trade. but careful, there are a lot of entry setups. if you don't want to get confused about all the possibilities and ways to interpret, limit yourself to the few that work best for you
  • #23,555
  • Nov 19, 2010 8:58am Nov 19, 2010 8:58am
Quoting Borism
Hi,
My thought is that, it is possible the move down is because on daily chart price hit 89....
Ya, I actually though of that too... Not sure if I have no luck, no skill or no fate? Up till today, still cannot trade profitable
  • #23,556
  • Nov 19, 2010 9:01am Nov 19, 2010 9:01am
Quoting hammerhead
Hello Phillip, Ira, Saka, Ashes, silverfox and all,

Took a stupid decision today. I had a long in eurusd @ 1.3636 and just took profit for +34 pips due to 1.3670 price level, then move to long audusd as i thought that i seen a nice pin bar with body hanging onto 200 and off 21. Guess what? Stupid mistake! I shouldn't change my position and move into another pair. Result only in BE today. Still wonder why that nice pin bar didn't work in audusd? I know that Ira favor in that kind of setup pin bar off 21 such in audusd. Maybe Ira can help?
I might not be in the position to comment as my skill is still not up to standard yet. However, I agree with Ira on AUDUSD that MACD has not confirmed when the TC is forming.
  • #23,557
  • Nov 19, 2010 12:18pm Nov 19, 2010 12:18pm
Quoting ashes
long usdcad, bounce off 200/21

r=atr21*2

edit:
sl moved to be after 0,5r.
price has bounced off this mark before, now it may break it or I go out be

edit:
be hit

I call it a week

good weekend to all
  • #23,558
  • Nov 20, 2010 3:41am Nov 20, 2010 3:41am
Phillip Nel. great documentation in this thread. the first page has an easy to use methodology that can really speed up the reference time and with the PDF, most trader can get started over a weekend (but to read the 2000+ pages, it may take longer ;-). Has anyone in this thread had success for more than a few months with this system?

I've never used large time frames to make a trade.
I use them for a brief S/R analysis as the larger the timeframe = the less information/data you have on the chart( some may say the opposite, but accuracy is lost when you focus on a OHLC of a large timeframe candle.) also with larger timeframes, economical news releases are often harder to relate to.
  • #23,559
  • Nov 20, 2010 1:15pm Nov 20, 2010 1:15pm
Quoting Phillip Nel
If you want to paricipate in a chat around the 4 Hour MACD Strategy
Go to www.skype.com and install skype and then click the link below to get access to the chat.

You can only benefit from the discussions and if not satisfied you can leave the chat when ever you want or ask the host to remove you.

I hope that the chats will only be positive. Bad stuff wont be allowed on the chat.

Everything on this chat must be treated as opinions of different people and any actions according to something published on...

Is this still being used by the group?
  • #23,560
  • Nov 21, 2010 10:32am Nov 21, 2010 10:32am
Guys,

A very interesting situation from AU monthly here. The price currently in Double Top formation, quite a distance from 8ema & at the same time this month candle is AN EVENING STAR in the making (or doji star)?

Whatever is your view/opinion regarding this pair, please share it here, because I am so excited to SHORT this pair & make a very nice+long run of free ride when this month ended. Just another week to go...!!!

Comments/suggestions are most welcome.
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