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4 Hour Strategy (MACD)

  • #25,421
  • Edited 12:06pm Mar 13, 2013 9:46am | Edited 12:06pm
I took it short too. If there was to be a pull back, maybe adding position then, will see. but already a down trend channel should limit the pull back or offer resistance to it.


EDIT: SL hit lost 24 pips
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Yvon
  • #25,422
  • Mar 13, 2013 9:52am Mar 13, 2013 9:52am
it turned out to take from me so
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  • #25,423
  • Mar 13, 2013 2:26pm Mar 13, 2013 2:26pm
Quoting Phillip Nel
The price has break the support TL and might be on its way to the bottom of the channel. I will wait for a pullback and bearish movement to go short.

Edit
The price has halted at the 1.3 level. This might become support or resistance as it has been a factor for some time now. Sellers has had difficulty in keeping it below this level. Itis going to be interesting to see what is going to happen. It will be interesting to see who is going to win at this level.

Edit
I enterd short after the downmove below the closest low.

Edit

[FONT=Times...
nice trade!
Yvon
  • #25,424
  • Edited 10:22am Mar 14, 2013 10:00am | Edited 10:22am
Hey everyone,

I`d like to do my part and share with you one of my best trades so far. I bought the GBP/USD pair with 40 pips half profit and 70 pips the other half, with a total average of 55 pips. I was going to post my setup earlier, however, as I am still new, I did not want to confuse anyone seeing this to make a possible bad trade.

Of course, any comments or critique is welcome.

Theresa
Attached Image(s) (click to enlarge)
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  • #25,425
  • Edited 10:58am Mar 14, 2013 10:38am | Edited 10:58am
Quoting TheresaH
Hey everyone,

I`d like to do my part and share with you one of my best trades so far. I bought the GBP/USD pair with 40 pips half profit and 70 pips the other half, with a total average of 55 pips. I was going to post my setup earlier, however, as I am still new, I did not want to confuse anyone seeing this to make a possible bad trade.

Of course, any comments or critique is welcome.

Theresa
critique? na!!!--- you are doing well, very well indeed.- just to support your trade that you probably had patience to do: the macd was showing a possible turn around- which support your trade.- going to the 1 hr chart was perfect!---your SL wasn't asking too much risk-I like what you are doing.-keep doing the good work.- since I don't have the same platform supplier, your chart differ from mine, maybe just a bit- your set up seems ok.: a break out - a pull back= and a move away- having drawn TLs shows historic, historic support decision- building structure-applying the strategy-
have a nice day
Yvon
  • #25,426
  • Mar 14, 2013 11:53am Mar 14, 2013 11:53am
EURUSD: price "back" in the consolidation... long from 1.2937. Already secured 33 pips.---
Yvon
  • #25,427
  • Edited 1:12pm Mar 14, 2013 12:08pm | Edited 1:12pm
Quoting trademin
EURUSD: price "back" in the consolidation... long from 1.2937. Already secured 33 pips.---
the chart:


edit moved up SL: secured about 90 pips

EDIT: trailing SL 20 pips
EDIT: trade closed: +100 pips
Attached Image (click to enlarge)
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Yvon
  • #25,428
  • Edited 7:17pm Mar 14, 2013 12:33pm | Edited 7:17pm
went late in USDCAD- free ride for now. (short)

EDIT: secure 10 pips.
EDIT: closed trade+14 pips.
Attached Image (click to enlarge)
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Yvon
  • #25,429
  • Mar 14, 2013 12:34pm Mar 14, 2013 12:34pm
trademin
why you entered in bye? what bases were?
  • #25,430
  • Edited 1:02pm Mar 14, 2013 12:48pm | Edited 1:02pm
Quoting alf909
trademin
why you entered in bye? what bases were?
there it is: break of 21ema(blue)- pull back-and move away.
---EDIT: price was below 89sma (purple) too.
any comments welcome,
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Yvon
  • #25,431
  • Mar 14, 2013 1:10pm Mar 14, 2013 1:10pm
Quoting trademin
the chart:


edit moved up SL: secured about 90 pips

EDIT: trailing SL 20 pips
I asked about it, for what reason rose in bye?
  • #25,432
  • Mar 14, 2013 1:26pm Mar 14, 2013 1:26pm
Quoting alf909
I asked about it, for what reason rose in bye?
sorry but would you ask your question in a different way please,

- --maybe a picture would help, there it is:


another trade done there but not shown, since it has been taken late and don't want to confuse people about it---but generally the pair was very oversold and had divergence, bullish engulfing and Round Bottom.
Attached Image (click to enlarge)
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Yvon
  • #25,433
  • Mar 14, 2013 1:33pm Mar 14, 2013 1:33pm
Thanks, it I too saw, but was frightened ((
  • #25,434
  • Mar 14, 2013 1:44pm Mar 14, 2013 1:44pm
Quoting alf909
Thanks, it I too saw, but was frightened ((
I sympathise with you! when price hit the low , already price was far away from the 8ema(red)- so was expecting a correction soon, then came the correction, that beautiful green candle! and remember while it was building up, thinking that it needed a confirmation of RB by making an engulfing candle!---joy came,express by a large smile when it did happened! that was the second round bottom- still diverging- I went for it.
best regards,
Yvon
  • #25,435
  • Mar 15, 2013 3:15am Mar 15, 2013 3:15am
Hi. I see some nice trades that were made. Well done to you all.

I had internet lost so could only trade from my mobile(if there was signal). I am on holiday at a lodge so I was relaxing yesterday when the internet was down. I took a trade late yesterday. See the comments below. I missed the initial move up because of the internet problems but that is part of trading.

  2. Point A was the latest resistance level which was about 40 pips away from my entry. As it did not go down to the 1.29 level the possibility was allways there for a pullback during the night. I had to find a place to combat the pullback and that was at point A. But my initial stop was only 18pips so to be able to keep my risk at the sam $ amount I closed half of my position at BE and set my stop to 42pips away from entry leaving me with approx. the sam initial risk. It worked out over night.
  3. Now I had to find a place for my TP as the 1.29 level might not be reached again. That is where line MUV comes into play so I set my TP close to that and it was reached at point C
  4. Then the price went back to just above the 1.30 level and pulled back to it. There was no support TL at that point so I took the odds on that they have tried the downside but did not get sellers enough to take the price down so thet will now try the upside again. Therefor the 1.30 level became my support level. I entered on a pullbackat Point D and first green candle move away on the 15min. Then there was the same scenario that it might range overnight so I put my stop 30pips away from my entry. There was no real TL to put it therefore my decision. I was convinced that 1.30 will hold as support which it did.
  5. The profit target was set at TL MNO. Look at how the price broke this TL down and it pulled back to it to find resistance there at O. I anticipated a move to this TL again and set my TP at it and was reached for +19pips.

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  • #25,436
  • Mar 15, 2013 3:18am Mar 15, 2013 3:18am
Quoting trademin
I sympathise with you! when price hit the low , already price was far away from the 8ema(red)- so was expecting a correction soon, then came the correction, that beautiful green candle! and remember while it was building up, thinking that it needed a confirmation of RB by making an engulfing candle!---joy came,express by a large smile when it did happened! that was the second round bottom- still diverging- I went for it.
best regards,
That was excellent. I missed it with the internet problems here at the lodge. But I needed the rest and relaxing as well.
  • #25,437
  • Edited 4:31am Mar 15, 2013 3:55am | Edited 4:31am
Quoting Phillip Nel
That was excellent. I missed it with the internet problems here at the lodge. But I needed the rest and relaxing as well.
Why you on March 13, on the transaction to sell, cleaned stop the order?
how you assumed, what the price will go below?
  • #25,438
  • Mar 15, 2013 4:24am Mar 15, 2013 4:24am
Quoting alf909
Why you on March 13, on the transaction to sell, cleaned stop the order?
I dont fully understand. Can you add picture please. Thanks
  • #25,439
  • Mar 15, 2013 4:32am Mar 15, 2013 4:32am
???
Excuse if I unclear write, I from Russia, use the translator,
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  • #25,440
  • Mar 15, 2013 4:42am Mar 15, 2013 4:42am
Probably?
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