4 Hour Strategy (MACD)

forgot attach picture..

Trade was taken in the journal

http://www.forexfactory.com/showthre...63#post4875163

Thanks
Phillip

Hi Phillip.
You changed the MACD settings to 10,22,1? hmmm, I like 5,13,1.

I'm in on the EUR too, entry was early at 4390

I went long on that one . I like using the daily chart in order to see the big picture showing movements of 21 ema. price indeed broke the 21ema then pullback, then later moved away. gain of 185 pips and having 1 free trade in the oven.

Yvon

hit the TP. +59 pips.
Yvon

Is there a reason for this MACD change.
Dave

As Phil ha explained somewhrer (may not be this thread), he used this set of param when the price movement is so volatile that he needs a more reliable than faster MACD signal.

Let's goooo EurUsd

- By the way - nice trading Trademin!!!

I agree, but I put my SL at 4415 in case it comes back. Let's go EUR. Will post later
Raymond

I need 10more pips and my EA move SL to BE automatically ( at 90%of 1:1 RR) hopefully will still go up now.... yet only 5pips

EDIT1: SL at BE now-EURUSD@1.44160. Shoot up for me mooore please....

EDIT2: Sorry for stupid question, but What for are "Vouchers"??

Can't watch my trade for an hour or so. I'm out at 4474...80 pips. Will post later
Raymond

I'll take +65pips, still good I must train patience. I wonder if price will hits my original planned TP_1.45360....

Congrats! At work now so got to go
Raymond

Vouchers are given to you if others who have 4 or more vouchers feel like you are becoming a good traders. It is a way to try to figure out the good traders from the not so good traders. Does it really work..maybe
Raymond

thank you for bringing it up.this is something to think about.

Yvon

thank you Deathless. same to you for the 70 pips you grabbed, nice shot!

-I just went away from the EURUSD CT, too much for me! I usely have the feeling of PIPS grinding my teeth when trading CT or trading inside a fanion!
even if I know that pips can be made in those situations.
but I don't have that kind of nerves! :-
good for those who have the hability do take them.!
Yvon

Here is the trade. I posted earlier that I was looking for longs. The daily shows that price had been in a range for a while with wild swings up and down. The 1st chart is the daily showing the red resistance/trend line. That was a strong bullish candle that closed toward it's highs and right at the trendline. To me when that happens, there is a pretty good chance of price breaking the trendline (but price seemed to return back into the range today with a high wave candle showing indicision) and continuing up.

The second chart is the 4 hr which I posted earlier with the 4 hr candle of 170+ pips. This shows a lot of buyer with momentum. My entry was not according to this tread, but this is what I did. With such a large 4 hr candle, I enter when price touches the 8 ema. I set a pending order in and went to sleep to see that it had been filled over night. The only issue with this is a large SL, I'll get back to that later.

My tp was at the highs of the previous move on 7/27 (wear the words trucation invalid). It was not reached which surprised me a little.

My SL are a different story. I really like to move them out of the way b/c of what happened to phillip and his trade. Price took his stop loss out and then proceded to do exactly what he anticipated. That happened to me a lot and it really pisses me off. I put mine initially at 4125. I want to be incorrect and have a loss, not correct and have a loss. Their is a down side. I can have higher losses. To offset that my % of what I "bet" is based on my SL and not my profit. I have not had a SL taken out for a while. That does not mean I don't lose trades. I just want the candles to show me that I'm wrong

My exit, if I had been around, would have been with the divergence on the 15 min shown on the 3rd chart. However, I had to go to work, so I closed it manually. So I missed on 10-20 pips, oh well

As a side note, you can see with the blue rectangle on the 15 min chart where Phillip got taken out. Notice the engulfing bullish candle. It engulfed an already large bearish candle right at the 21 MA on the 4 hr. This shows strong support there and possible another early entry.

Here is a possible set up on the GbP. Resistance becomes support? Look for a nice TC or candle formation. If it happens tonight I'll probably miss it. I've got to get some sleep.
Raymond

I miss grinding my teeth with a CT :-)
there it goes!

Yvon

edit: hit the SL, so lost of 34 pips...oops!