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4 Hour Strategy (MACD)

  • #23,561
  • Edited 1:50am Nov 22, 2010 1:06am | Edited 1:50am
Quoting orangeRANGE
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....
Good observation, Orangerange. Seven trading days until that candle closes so we will see what happens. Well, if the signal is correct, I had better hurry and convert all my AUDs to USDs before the drop. LOL.
  • #23,562
  • Edited 2:09am Nov 22, 2010 1:53am | Edited 2:09am
Took a short here at the trendline and vicinity of 89 SMA.

EDIT : Took 51 pips on half, set SL to b/e and letting other half run.
Attached Image (click to enlarge)
Click to Enlarge Name: eu4hr.gif Size: 21 KB
  • #23,563
  • Nov 22, 2010 2:43am Nov 22, 2010 2:43am
Quoting xeneric
Good observation, Orangerange. Seven trading days until that candle closes so we will see what happens. Well, if the signal is correct, I had better hurry and convert all my AUDs to USDs before the drop. LOL.
LOL...you are the Aussie...you should know better. Well, sometime (or most of the time) most of us (including myself) rarely go for monthly charting because we are too busy looking for trend/signal from H4 or D1. Xeneric, don't get too excited to SELL AUDusd...LOL. We still need a good entry from H4 analysis.
  • #23,564
  • Nov 22, 2010 10:17am Nov 22, 2010 10:17am
Quoting xeneric
Took a short here at the trendline and vicinity of 89 SMA.

EDIT : Took 51 pips on half, set SL to b/e and letting other half run.
great ct trade, Xeneric ... I hope you hold the other half as to break the lower tl
  • #23,565
  • Edited 4:08pm Nov 22, 2010 10:24am | Edited 4:08pm
took two trades today on diverging pairs, since audusd, gbpusd and eurusd were on the move before I could have entered

long usdchf 1h, a ct trade, but charttechnically a tc trade, bounce off lower channel tl

long usdcad 4h, same description as above

both have taken 1/2 tp at 1r, sl remains at -1r, so they are basically just set be with a lot breathing space. I speculate on a further move north

edit:
as cad reached the upper tl but chf did not show the same momentum, I have set both trades be now

edit:
chf came back to tl, sl be
let's see if cad is going to break the upper tl tomorrow
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chf 1h 22.11.10.gif Size: 15 KB
Click to Enlarge Name: cad 22.11.10.gif Size: 13 KB
  • #23,566
  • Nov 22, 2010 11:37am Nov 22, 2010 11:37am
Quoting ashes
took two trades today on diverging pairs, since audusd, gbpusd and eurusd were on the move before I could have entered

long usdchf 1h, a ct trade, but charttechnically a tc trade, bounce off lower channel tl

long usdcad 4h, same description as above

both have taken 1/2 tp at 1r, sl remains at -1r, so they are basically just set be with a lot breathing space. I speculate on a further move north

Well done.... I took €, GBP and Aus going south....
we'll see how it goes....
  • #23,567
  • Nov 22, 2010 11:56am Nov 22, 2010 11:56am
Quoting Borism
Well done.... I took €, GBP and Aus going south....
we'll see how it goes....
which were your entries?
  • #23,568
  • Nov 23, 2010 12:29am Nov 23, 2010 12:29am
Quoting ashes
which were your entries?
Hi, Ashes...
these were my entries:
Aus:I was waiting for the bounce of 89, and after candle closed under 200 i went short
EUR: also bounce of 89 on 4h and a big tail on daily chart from 21
GBP:bounce of 89 2 times, and a big resistance line above....


The currencies are going very well.....
Regards
Boris
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 107 KB
Click to Enlarge Name: aus.jpg Size: 103 KB
Click to Enlarge Name: gbp.jpg Size: 108 KB
  • #23,569
  • Nov 23, 2010 3:27am Nov 23, 2010 3:27am
thank you Boris for disclosing. yery nice ct entries.
were facing a lot of volatility right now, due to the proximity of the big lower tl's. let's see if they break.
good luck
  • #23,570
  • Nov 23, 2010 6:49am Nov 23, 2010 6:49am
Quoting Borism
Hi, Ashes...
these were my entries:
Aus:I was waiting for the bounce of 89, and after candle closed under 200 i went short
EUR: also bounce of 89 on 4h and a big tail on daily chart from 21
GBP:bounce of 89 2 times, and a big resistance line above....


The currencies are going very well.....
Regards
Boris
Hello Boris, i'm new to the thread, been reading up. It seems to me your not actualy using the MACD for entry but the MA's instead?
  • #23,571
  • Nov 23, 2010 8:16am Nov 23, 2010 8:16am
Quoting kraven
Hello Boris, i'm new to the thread, been reading up. It seems to me your not actualy using the MACD for entry but the MA's instead?

Hi kraven,
yes i am trying to use the 4h macd, but like phillip said, i am trying to understand the rhythm of the market. I have a lot to learn. Also the weekly forecast from Phillip is of big help...

Boris
  • #23,572
  • Nov 23, 2010 8:30am Nov 23, 2010 8:30am
Quoting Borism
Hi kraven,
yes i am trying to use the 4h macd, but like phillip said, i am trying to understand the rhythm of the market. I have a lot to learn. Also the weekly forecast from Phillip is of big help...

Boris
Boris, could you give me the link to Philips' page with the weekly forecast - Philip sent it to me on the week end, I accidentally deleted it and did not bookmarked the page, so now I cannot access it.

Thanks you
  • #23,573
  • Nov 23, 2010 9:33am Nov 23, 2010 9:33am
Boris, I would appreciate it too. I've emailed Phillip for it, but if you have it that would be great. Thanks!
  • #23,574
  • Nov 23, 2010 10:18am Nov 23, 2010 10:18am
Sent the link on PM

Regards,
Boris
  • #23,575
  • Nov 23, 2010 10:46am Nov 23, 2010 10:46am
Thanks!
  • #23,576
  • Nov 23, 2010 10:49am Nov 23, 2010 10:49am
Quoting Borism
Hi, Ashes...
these were my entries:
Aus:I was waiting for the bounce of 89, and after candle closed under 200 i went short
EUR: also bounce of 89 on 4h and a big tail on daily chart from 21
GBP:bounce of 89 2 times, and a big resistance line above....


The currencies are going very well.....
Regards
Boris

Closed EURUSD at 1.3433..... Wasn't sure what will happen around 89 on daily chart....
  • #23,577
  • Nov 23, 2010 10:26pm Nov 23, 2010 10:26pm
Dear phillip and all other traders

I have been use this method long time and until now and i made some changes and that for me only, and I would like to ask is there any big changes in the settings of the indicators or any other changes in the technical methodes?

Best wishes
Mohd
  • #23,578
  • Nov 24, 2010 12:26am Nov 24, 2010 12:26am
Quoting Borism
Closed EURUSD at 1.3433..... Wasn't sure what will happen around 89 on daily chart....

GBP: trailing stop hit at 1.5834
AUD: trailing stop hit at: 0.9783
  • #23,579
  • Nov 24, 2010 1:12am Nov 24, 2010 1:12am
Quoting Borism
Sent the link on PM

Regards,
Boris
Hi Boris, I have being using this strategy for Some time now and it has being very helpful in my understanding of the forex market. the weekly forecast by Philip will the very helpful to me, please send it to me. thank you.
  • #23,580
  • Nov 24, 2010 1:25am Nov 24, 2010 1:25am
Quoting Laja1881
Hi Boris, I have being using this strategy for Some time now and it has being very helpful in my understanding of the forex market. the weekly forecast by Philip will the very helpful to me, please send it to me. thank you.
Hi, you can go to his website and join his mailing list...., then you will receive his weekly anticipation mail on sunday...

http://www.phillipnel.co.za/
Regards
Boris
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