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4 Hour Strategy (MACD)

  • #24,321
  • Jun 14, 2011 2:20am Jun 14, 2011 2:20am
Quoting Morelands
Here's my entry. Will explain later
Hi,

Your MA looks different from mine. Is that a 55ma which EU has touched?

http://img197.imageshack.us/img197/3658/25604224.png

Uploaded with ImageShack.us
  • #24,322
  • Jun 14, 2011 3:12am Jun 14, 2011 3:12am
Quoting geniusztc
chance to short.
wake up ,and it is not good .price pull back between 10ema and 21ema .then go north again .out with +1 pip. bullish win .
Attached Image (click to enlarge)
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A chart helps those who can read it.
  • #24,323
  • Edited 12:04pm Jun 14, 2011 5:41am | Edited 12:04pm
Took an early entry and i'm off sides a little. It looks like I should have been more patient and stuck with my plan. It does seem to be still in that channel. However, the trade is still good until it closes above 76, imo. Yes, the pink is the 55ema. It is just something I've put in
Raymond

Still in the trade, not liking it, but the 76 area seems to be holding for now
  • #24,324
  • Edited 6:03am Jun 14, 2011 5:49am | Edited 6:03am
short again at 8203, the 50fib ,and also near the downtrend line .

and now price pull back to 21ema again on h1 chart . i will focus on it and move s/l position .good luck to myself .

close price did not break the 21 ema on h1 chart , move s/l above the 21 ema on 5min chart @ 8185.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd3.gif Size: 26 KB
A chart helps those who can read it.
  • #24,325
  • Jun 14, 2011 8:51pm Jun 14, 2011 8:51pm
I'm still in the trade. I believe it is one of the worst and best trades I have had for a while. First the entry was pretty bad. I was planning on a strong pull back b/c of the rule of alternation. Basically this rule is from Elliott wave principles. It basically states that corrections tend to be different. In this case the blue rectangle correction was a short period of time and did not pull back that far. Consequently the second will pull back much more and take more time. ( Like geniusztc noted this pull back was in a nice channel.) So I was expecting a deep pull back, but I jumped the gun/I became impatient.
On the good side, I stayed to see what would happen around the 76 area shown by the white line. That area held. A few years ago I would of exited for a loss. I'm still not in the black, but I believe I will be. I guess we'll see
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  • #24,326
  • Jun 15, 2011 1:28am Jun 15, 2011 1:28am
Quoting geniusztc
still in the channel lines .
broke the channel line ,and opened short orders .
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.gif Size: 36 KB
A chart helps those who can read it.
  • #24,327
  • Jun 15, 2011 1:30am Jun 15, 2011 1:30am
Quoting Morelands
I'm still in the trade. I believe it is one of the worst and best trades I have had for a while. First the entry was pretty bad. I was planning on a strong pull back b/c of the rule of alternation. Basically this rule is from Elliott wave principles. It basically states that corrections tend to be different. In this case the blue rectangle correction was a short period of time and did not pull back that far. Consequently the second will pull back much more and take more time. ( Like geniusztc noted this pull back was in a nice channel.)...
A chart helps those who can read it.
  • #24,328
  • Jun 15, 2011 2:32am Jun 15, 2011 2:32am
Quoting geniusztc
broke the channel line ,and opened short orders .
-11,+6,+19,+46,+46.
Attached Image
A chart helps those who can read it.
  • #24,329
  • Edited 8:35am Jun 15, 2011 4:57am | Edited 8:35am
Quoting geniusztc
-11,+6,+19,+46,+46.
Nice trade. You had to go though a lot less pain...good job
Raymond

I'm out at 4288
  • #24,330
  • Jun 15, 2011 10:46am Jun 15, 2011 10:46am
Geniusztc,
Hope your still in the trade
Raymond
  • #24,331
  • Jun 15, 2011 11:21am Jun 15, 2011 11:21am
Quoting Morelands
Geniusztc,
Hope your still in the trade
Raymond
hey,Morelands,my friend,i closed the positions of EU too early . but left position of AU. it is too late ,and i have so many homework ,and also have classes tommorow .now closed all positions and go to sleep .it is 0:18 (GMT+8) my friend .lol .tired . anyway ,good luck to you .
Attached Image (click to enlarge)
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A chart helps those who can read it.
  • #24,332
  • Jun 16, 2011 4:16am Jun 16, 2011 4:16am
price broke the down trend line on h4 chart ,then pull back to 21 eam, 80.50 is a support area . open long position and s/l @ 80.40 .
A chart helps those who can read it.
  • #24,333
  • Jun 16, 2011 6:36am Jun 16, 2011 6:36am
Quoting novice198
Time frame 4H and TL break and retest setup plus Trend Continuation signal on MACD.
Short Entry 1.4490, SL 60 pips and TP 60 pips just above the 200SMA.
So far the PA is moving in my direction.
3 trades since begining of this week. 1st EU was BE, 2nd EJ was full loss (have to work how to reduce the losses), and 3rd EU moving in right direction.

Cheers
Novice198

EDIT :- Out on BE +1. In hind sight I should have closed 1/2 position at plus 40 pips when moving the SL to BE+ 1
Also on the 1H TF the 365EMA acted as a support. Therefore, should we...
As Attached
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd 10June2011.gif Size: 52 KB
Attached File(s)
File Type: zip EurUsd 10June2011.zip   1.1 MB | 822 downloads
  • #24,334
  • Edited 9:17am Jun 16, 2011 9:06am | Edited 9:17am
Quoting Phillip Nel
As Attached
Hi Phillip,
Thanks for the review of the above trade. However, I cannot download the attached zip file. I think there is no problem on my side as I can download other zip files.

Thanks
novice198

ps : managed to download the file.
  • #24,335
  • Jun 16, 2011 5:04pm Jun 16, 2011 5:04pm
Man, did you see the shape on that .....candle. Nice hammer candle on the daily indicating possible bottom, for now.

Crap, there goes the color on my charts again. I hope you can see the candle
Attached Image (click to enlarge)
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  • #24,336
  • Jun 19, 2011 6:06am Jun 19, 2011 6:06am
Quoting novice198
Hi Phillip,
Thanks for the review of the above trade. However, I cannot download the attached zip file. I think there is no problem on my side as I can download other zip files.

Thanks
novice198

ps : managed to download the file.

Hi novice198,

I have faced same problem on IE browser,you can try another browser to resolve this issue.On my side I used one of chinese browser.

WBR
LW
Regards,Liu Wen
  • #24,337
  • Jun 19, 2011 9:44am Jun 19, 2011 9:44am
Hi Phillip,

Attached herewith pls see the to possible trades which i took on EU. FXDD Platform.
1st Trade a Long entry @1200hrs candle. CT trade as I was expecting the PA to head north towards 8 and 21 EMA. Usually I set my trade and activate Trade mgmnt EA so that emotions don't mess up the trade and also I cannot baby sit my trades due to other commitments. The SL 60 pips (2%) was taken out very quickly.
I took the Long trade again at 1600hrs candle with 60pips SL and closed the trade with 40pips profit. Net result -20 pips or -0.67%

2nd trade was a TC with some resistance on top. Could have been a full loss, however, after making 10 pips I reversed my trade based on strong S&R horizontal levels which I had marked earlier on another chart. I made about 90 pips on that trade. Not a 4H MACD Trade but based on S&R only.

Conclusion:-I should mark the horizontal levels on the chart as these will override the TL S&R which is very subjective at its best.
Comments & Critiques welcome. Presently focussing only on EU,EJ and UCHF pairs. As Traders say less is more in this biz.


Cheers
Novice198

PS Is a TC signal at -45 a good signal after the MACD has already been extended to around -100
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 26 KB
  • #24,338
  • Jun 20, 2011 1:54am Jun 20, 2011 1:54am
Hi Phillip,

I have printed out the chart for the last 30 days for the EJ and EU and analyzed same for Trading purpose. While it is easier to analyse in hindsight, I have given my reasons why I should not be taking some particular trade. My idea is to take high probability trade and not to take Counter Trend trades unless they are screaming at you and as such there are a very few Trades that I would have taken.
A lot has been said about gaining XXX amount of pips per month, however, if I understand this correctly and if the risk in terms of percentage is same for every trade then theoretically we can be Plus in Pips and Minus in Account. Therefore, my aim is not pips but the byproduct i.e increase in account size and at this stage a 4% increase per month satisfies my requirement.


Can you or someone who is exp 4HMACD trader have a look and comment on same.

Cheers
Novice198
Attached File(s)
File Type: pdf EJ_001.pdf   93 KB | 525 downloads
File Type: pdf EU_001.pdf   88 KB | 484 downloads
  • #24,339
  • Jun 21, 2011 6:04am Jun 21, 2011 6:04am
Hello to everyone, especially mr. Nel!
The first time I saw FX charts I thought that this was far to complicated for me. I am not an economist and have no experience in such things. But a few months later I started looking into it again,nd I must admit, It's growing on me.
I started a demo account and I am testing the 4H MACD. I still have a lot of things to learn, but I just wanted to check if I am at least on the right track.

This is a trade I started. GBP/USD sold at 1.6167. , 21.jun 11.30
MACD showing an RT and has started to lower. The current candle is in a bearish trend. 8EMA I 21EMA have come together but already 8EMA is going down.MACD is at level 7 so it probably won't go down far, hence the TP will be set at 1.6155, giving me 12PIPS.

http://imageshack.us/f/813/gbpusd21jun.gif/

So far it's not going the way I planned ..
  • #24,340
  • Jun 22, 2011 12:16pm Jun 22, 2011 12:16pm
Here is a potential trade, I would appreciate your opinions.

Attached Image (click to enlarge)
Click to Enlarge Name: g-u 22jun.gif Size: 73 KB



Thank you!
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