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4 Hour Strategy (MACD)

  • #24,501
  • Edited Aug 12, 2011 9:26am Aug 11, 2011 7:58pm | Edited Aug 12, 2011 9:26am
let's see if This TC will work should 1.4000 breaks.
Yvon
Attached File(s)
File Type: doc 110811EURCAD.doc   268 KB | 323 downloads
Yvon
  • #24,502
  • Aug 11, 2011 8:47pm Aug 11, 2011 8:47pm
Quoting Matthia
took GBP/USD (long)

counter Trend

CEST (GMT +2): 1600
TradeEntry: 1.6187
SL: 1.6095
TP: 1.6275
R/R: 1:1

any idea?

I think your TP was a little larger than what it should have been. I have shown a horizotal line/resistance/price line and a trendline shown by the arrows. Both should be difficult for price to go through. Given your entry and my resistance, the R:R was not good. Don't worry about it. Just trade demo until you can consistantly make fake $. I actually went short/scalping off of the resistance line that I indicated
Sorry about the colors on my chart. I don't know why this happens sometimes
Raymond
Attached Image (click to enlarge)
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  • #24,503
  • Aug 11, 2011 11:31pm Aug 11, 2011 11:31pm
Quoting Morelands
Very hard to trade Phillip's system this week on the EUR/USD
Hi MOrelands, is there any way to predict we will go into such range?
  • #24,504
  • Edited 4:49am Aug 12, 2011 4:19am | Edited 4:49am
Puh... I just closed gbp/usd with 85 Pips, thats 5 Pips below TakeProfit.
I got nervos...

@Morelands: Whilst in the trade I thought, maybe to take counter Trends with a higher risk could be successfull, no? but high-risky...
Like 2:1...mmh

@trademin: Yeah... iīm still in there (eur/cad)... hopein...
(hadnīt had a look at the daily... looks more like short...mh)

Thanks for your replies!! Itīs hard for me to sitt by my self and learn
stuff... I need someone to point things out or show me an other way of interpretation.

regards
Matt.
  • #24,505
  • Aug 12, 2011 8:34am Aug 12, 2011 8:34am
Quoting wuming79
Hi MOrelands, is there any way to predict we will go into such range?
I believe we are going to see this period of consolidation on the EUR/USD change soon. Based on my chart price is really starting to compress. You can see the trendlines, 2 yellow and the 1 red above, are closing in and the bulls and bears are fighting it out with price going up and down violently. I still think price will break to the up side, but who knows
Attached Image (click to enlarge)
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  • #24,506
  • Aug 12, 2011 9:32am Aug 12, 2011 9:32am
Quoting Matthia
Puh... I just closed gbp/usd with 85 Pips, thats 5 Pips below TakeProfit.
I got nervos...

@Morelands: Whilst in the trade I thought, maybe to take counter Trends with a higher risk could be successfull, no? but high-risky...
Like 2:1...mmh

@trademin: Yeah... iīm still in there (eur/cad)... hopein...
(hadnīt had a look at the daily... looks more like short...mh)

Thanks for your replies!! Itīs hard for me to sitt by my self and learn
stuff... I need someone to point things out or show me an other way of interpretation.

regards
Matt....


who says it would be easy!
Yvon
  • #24,507
  • Aug 12, 2011 9:44am Aug 12, 2011 9:44am
you are doing very good! keep doing the good work! congrats!
Yvon
  • #24,508
  • Aug 13, 2011 7:29am Aug 13, 2011 7:29am
@trademin:
thank you for the flowers

never the less, a reason for me to become excited would rather be
a run of consecutiv Winns, of course... and thats what itīs about, I guess

The "evening star - Pattern", that has formed now lets me rather believe,
that eur/cad is a lost Trade.
I had rather wished that I could realise a BE to the WE.

Yeah, what ever!
FX aint about wishing

hope to CU all next week

Matt.
  • #24,509
  • Aug 13, 2011 6:12pm Aug 13, 2011 6:12pm
Quoting Matthia
@trademin:
thank you for the flowers

never the less, a reason for me to become excited would rather be
a run of consecutiv Winns, of course... and thats what itīs about, I guess

The "evening star - Pattern", that has formed now lets me rather believe,
that eur/cad is a lost Trade.
I had rather wished that I could realise a BE to the WE.

Yeah, what ever!
FX aint about wishing

hope to CU all next week

Matt.

Flowers? Are we on match.com? Just a little humor
  • #24,510
  • Aug 13, 2011 6:37pm Aug 13, 2011 6:37pm
Quoting Morelands
Very hard to trade Phillip's system this week on the EUR/USD
Perhaps after a few bars of that kind of whipsaw, you can drop down to a lower timeframe and catch those waves.
  • #24,511
  • Aug 14, 2011 10:10am Aug 14, 2011 10:10am
Quoting Fx93
Perhaps after a few bars of that kind of whipsaw, you can drop down to a lower timeframe and catch those waves.
I agree and have capitalized on some small moves.
Raymond
  • #24,512
  • Edited 7:57am Aug 15, 2011 1:54am | Edited 7:57am
went short on GBP/USD

CEST (GMT +2): 0800
TradeEntry: 1.6283
SL: 1.6343
TP: 1.6223
R/R: 1:1

On my Broker-Acc. it looks a little different, so that
TP is a bit higher...

Matt.

(closed by SL -60Pips, CEST: 1500)
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  • #24,513
  • Aug 15, 2011 2:23am Aug 15, 2011 2:23am
Quoting Matthia
went short on GBP/USD

CEST (GMT +2): 0800
TradeEntry: 1.6283
SL: 1.6343
TP: 1.6223
R/R: 1:1
I agree with the resistence part.
But it seems lack of momentum to go anywhere for now.
May be you are right. But I would avoid.

David
  • #24,514
  • Edited 3:45am Aug 15, 2011 2:40am | Edited 3:45am
since Eur/Cad shows overbought one all Charts
and it is above TradeEntry I decided to put
SL to BE.
Itīs very tight right now by 15Pips, but it fooled me long enough

Matt.

(closed by SL with +2Pips, CEST: 10:40)
  • #24,515
  • Edited 8:03am Aug 15, 2011 2:58am | Edited 8:03am
Quoting davidwu61
I agree with the resistence part.
But it seems lack of momentum to go anywhere for now.
May be you are right. But I would avoid.

David
I would guess that you mean the shadows and no "destinct" Pattern?
My Brokers CCI also got some room upwards...

If possible, please explain how you would recognise a lack of momentum!

regards
Matt.

(closed by SL -60Pips, CEST: 1500)
  • #24,516
  • Aug 15, 2011 9:59am Aug 15, 2011 9:59am
Quoting Matthia
I would guess that you mean the shadows and no "destinct" Pattern?
(closed by SL -60Pips, CEST: 1500)
Attached Image (click to enlarge)
Click to Enlarge Name: ppp.gif Size: 36 KB


My indicators include a (30, 78, 6) MACD and "Waddah Attar ADXBollinger",
both show flat, I would avoid trading when that happen because the direction and momentum are not clear for me.

Breakout this morning is due to the news, so we can not say it is according to any technical analysis; however it does explain why there is no
momentuum when you enter, because all hands are waiting for the news announcement.

Just my opinion

David
  • #24,517
  • Aug 15, 2011 6:25pm Aug 15, 2011 6:25pm
Quoting Matthia
went short on GBP/USD

CEST (GMT +2): 0800
TradeEntry: 1.6283
SL: 1.6343
TP: 1.6223
R/R: 1:1

On my Broker-Acc. it looks a little different, so that
TP is a bit higher...

Matt.

(closed by SL -60Pips, CEST: 1500)
I actually went long while you went short. You can see the GBP 4 hr chart is split into 2 halves. The upper half above 6266 (about) and the lower half. The arrow shows a strong candle that CLOSED above the the 6266 line and price really never closed below it. The candle that came 7 candles after that one closes above the others showing that price was going to go up.
Phillip stopped trading RT and RB b/c they were too inconsistant. I don't really look at the indicator too much anyways. I look at the MACD for divergence and a few other incidence
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  • #24,518
  • Aug 15, 2011 6:29pm Aug 15, 2011 6:29pm
I'm looking for a long on the EUR/USD. Price broke through a lot of resistance with a 170+ pip 4hr candle. This is a stong indicator of higher prices to come
Raymond
Attached Image (click to enlarge)
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  • #24,519
  • Aug 15, 2011 7:47pm Aug 15, 2011 7:47pm
Quoting Morelands
Ah said the blind man, blind man being me. I took the TC for the same reasons mike did. His chart is a little different from mine but the long bearish candle is the same and so is the divergence. I think I've discovered the holy grail... just do the opposite of what I've been doing. When I origonally looked at this method I thought this is going to be easy. Boy was I wrong. I'm going to keep trying 'til get this right. There is no way I'm going to give up especially with all of the support this tread provides. Thank for your help.
Raymond
Here is a post written by me several yrs ago. Just thought I would put this out there to help people that may be feeling frustrated
Raymond
  • #24,520
  • Edited 3:27am Aug 16, 2011 2:52am | Edited 3:27am
It is nice to wake up into the profits, +70pips I closed my possition 10pips sooner couse of against the trend trade and also was to close to the trend wall. I enter into the trade before RoundTop was formed as you can see RR was 1:2. Enter price, SL, TP in picture...& stoch was overbought also. Now waiting what will happen & how price react my trend lines..and I turned off showing signal at macd,,,,but it still showing it..grrr... Keep it simple and stupid & dont be too greedy, just greedy
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