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4 Hour Strategy (MACD)

  • #23,601
  • Nov 29, 2010 6:41am Nov 29, 2010 6:41am
Quoting Borism
Short EURUSD
1.3213
SL: 1.3270
Target: 1.3080
Set SL to BE...
  • #23,602
  • Nov 29, 2010 6:56am Nov 29, 2010 6:56am
can you tell me why you shorted there Boris?

also watch for possible rebound 3115 area
  • #23,603
  • Nov 29, 2010 7:10am Nov 29, 2010 7:10am
Hi Boris, I have had a setup on eurusd, too, @1,3232, r=62, but I didn't take it due to oversold concerns. ... wrong .
I have taken an usdchf long instead @1,0014, r=32 wich almost hit tp and now dwells around the be territory.
I might take an audusd short in about one hour roundabout @0,9620.
Let's see how it all works out
  • #23,604
  • Nov 29, 2010 7:50am Nov 29, 2010 7:50am
Quoting kraven
can you tell me why you shorted there Boris?

also watch for possible rebound 3115 area
It is a strong down trend, and I think that the price will test the 200 sma on daily chart..
we will see....
  • #23,605
  • Nov 29, 2010 7:52am Nov 29, 2010 7:52am
Quoting ashes
Hi Boris, I have had a setup on eurusd, too, @1,3232, r=62, but I didn't take it due to oversold concerns. ... wrong .
I have taken an usdchf long instead @1,0014, r=32 wich almost hit tp and now dwells around the be territory.
I might take an audusd short in about one hour roundabout @0,9620.
Let's see how it all works out
I have a short ticket opened from Friday... , and I am watching very closely what will happen now, that price is near 89 on daily chart...
  • #23,606
  • Nov 29, 2010 9:23am Nov 29, 2010 9:23am
Quoting Borism
I have a short ticket opened from Friday... , and I am watching very closely what will happen now, that price is near 89 on daily chart...
I'm aiming for 200sma with my longterm short from 9th nov. let's see how it develops
  • #23,607
  • Nov 29, 2010 9:56am Nov 29, 2010 9:56am
Quoting ashes
I'm aiming for 200sma with my longterm short from 9th nov. let's see how it develops
Cool around 850 pips... very nice
  • #23,608
  • Edited 4:20pm Nov 29, 2010 1:32pm | Edited 4:20pm
@Boris, not yet 850 ...
congrats to your eurusd trade

@all
eurusd has an important tl break and is currently at 200sma on daily
due to current eu polemics and actual charttechnics the chances are in favour for further drop to occur. I expect 200sma to get tested, crossed and then tested before moving on short. after test a 4h entry could be a good try to catch the train
just my 2 cents
Attached Image (click to enlarge)
Click to Enlarge Name: eur 29.11.10.gif Size: 14 KB
  • #23,609
  • Nov 30, 2010 2:12am Nov 30, 2010 2:12am
TC with the trend on pound, still in the trade, but I think it will close at b/e.
Attached Image
  • #23,610
  • Nov 30, 2010 3:49am Nov 30, 2010 3:49am
hi everyone, I love how this method works but I'm having a bit of trouble understanding TP.

Attached Image (click to enlarge)
Click to Enlarge Name: gu1.JPG Size: 106 KB


I believe the graph above is a good setup; MACD oversold and curving up, and price closed above 200SMA. SL at the previous low. For TP should I take the round number(1.5800) or the EMAs? Also, is the trade worth entering if SL is bigger than 50? Sorry if my questions sound stupid...
  • #23,611
  • Nov 30, 2010 4:53am Nov 30, 2010 4:53am
Quoting ira
TC with the trend on pound, still in the trade, but I think it will close at b/e.
I've had simmilar oversold concerns yesterday with eu ... one never knows
  • #23,612
  • Nov 30, 2010 6:35am Nov 30, 2010 6:35am
Quoting Borism
Short EURUSD
1.3213
SL: 1.3270
Target: 1.3080
Excellent call Borism
  • #23,613
  • Nov 30, 2010 7:46am Nov 30, 2010 7:46am
Quoting ira
TC with the trend on pound, still in the trade, but I think it will close at b/e.
Hi Ira, I still think that the GBP will test the 200 SMA on daily chart....
  • #23,614
  • Edited 6:05pm Nov 30, 2010 4:50pm | Edited 6:05pm
Just a reminder that it is December tomorrow which has been traditionally a difficult month for trading. It is likely that we will see more of a range than a trend in December.
  • #23,615
  • Dec 1, 2010 2:49am Dec 1, 2010 2:49am
Guys, I'm trying to grasp this strategy and I need help knowing if I'm in the right direction. This attachment below is how I see the system in action.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 199 KB


The green circles are valid signals, the red ones are not as profit targets(EMAs, trend lines and round numbers) do not present a 1:1 R:R, with the stop loss at the recent lows also more than 50 pips. So the 1st 3 trades would have been profitable, the 4th stopped out.

So am I getting the picture?Or are they all wrong?Feel free to be harsh, I'm all ready to learn
  • #23,616
  • Dec 1, 2010 10:20am Dec 1, 2010 10:20am
Quoting natnimrey
Guys, I'm trying to grasp this strategy and I need help knowing if I'm in the right direction. This attachment below is how I see the system in action.

Attachment

The green circles are valid signals, the red ones are not as profit targets(EMAs, trend lines and round numbers) do not present a 1:1 R:R, with the stop loss at the recent lows also more than 50 pips. So the 1st 3 trades would have been profitable, the 4th stopped out.

So am I getting the picture?Or are they all wrong?Feel free to be harsh, I'm all ready to learn
Hi,
It would be easier if you removed the grid from graph (better to spot things)
Try and download the colored MACD indicator for easier viewing( page 31)
If you are a beginner, try and trade only TC(trend continuation)
))
Boris
  • #23,617
  • Dec 1, 2010 10:27am Dec 1, 2010 10:27am
Quoting natnimrey
Guys, I'm trying to grasp this strategy and I need help knowing if I'm in the right direction. This attachment below is how I see the system in action.

Attachment

The green circles are valid signals, the red ones are not as profit targets(EMAs, trend lines and round numbers) do not present a 1:1 R:R, with the stop loss at the recent lows also more than 50 pips. So the 1st 3 trades would have been profitable, the 4th stopped out.

So am I getting the picture?Or are they all wrong?Feel free to be harsh, I'm all ready to learn
I might have different broker then you, so maybe my chart is different. I circled the MACD signal with red( i don't enter a trade if the macd bar is big.., I prefer to enter trades when macd bar is small, which means it can grow
Short GBP :1.5588
tight stoploss at: 1.5608
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.jpg Size: 103 KB
  • #23,618
  • Dec 1, 2010 10:38am Dec 1, 2010 10:38am
Boris, What are the figures in the MACD? (+430, -128 or something like that).
Thank you.
  • #23,619
  • Dec 1, 2010 10:46am Dec 1, 2010 10:46am
Quoting MidnightRun
Boris, What are the figures in the MACD? (+430, -128 or something like that).
Thank you.
15
30
45
-15
-30
-45
Regards
Boris
  • #23,620
  • Dec 1, 2010 2:43pm Dec 1, 2010 2:43pm
Quoting CashFlowTeam
Hi all.
Is anyone can show his own results with this system? I mean account number and invest pass. I've tried many trading systems like this one and no one was profitable long period. Sooner or later it blows out. Too hard to believe now that this is profitable enough =)
You should be doing extensive backtesting for yourself. A system that works for one person may not work for another because other factors like self discipline, placement of stops, take profit strategies etc make a difference.

Every system has its downfalls and no system will suit all trading conditions. That's why we suggest that you backtest for yourself. If a certain system worked for everyone then everyone would be making money. Forex is not like that. It requires a lot of years of practice and self discipline. Beginners will lose money so keep your lot sizes very small.
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