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4 Hour Strategy (MACD)

  • #26,441
  • Dec 8, 2013 9:15am Dec 8, 2013 9:15am
Quoting naustingfx
4 hour situation! like i said in the post above; we are likely to see retracement which will trigger a sell signal. the 4hour char is saying the same thing. Price is at the top of the trend line (channel) in the 4hour now, see my chart below. therefore price is very likely to find resistance at that level and that will trigger the retracement i have mentioned earlier. {image}
Hi naustingfx,

I took the recent retracement (from 1.3560 to 1.3531). However, it turns out red pips for me.
The TP was placed at 1.3525, previously stubborn resistance. The price never went there, it shoot up instead.
SL was hit at 1.3595 and happily re-enter the EU with bullish view intact.

Now targetting 1.3750 and a possibility of 1.38, with SL mentally placed below the 21 day EMA (around 1.3550)


Richard, don't be too shy to post. We are here to help each other.
You have binnie, Yvon, HappyMe, Naustingfx, Mr Philip Nel himself.. and.. and you surely got me bro!

I know it hurts! It hurts me a lot.
Take a break will do ^^

Trading is not about copying Yvon's trade.
Nor be able to know when the TC will be coming.

It is about finding a strategy that really works for you and you only. Trading is a very personal experience.
Here you will have someone to watch over your blind spot, and tell you how to fix it.
Someone to carefully agree with you, and telling you how to do it better.

Remember how you advance in this strategy, you learn something new.

Don't trade for the money.
Trade because you like it.
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Own your own mind.
  • #26,442
  • Edited 4:48pm Dec 8, 2013 4:08pm | Edited 4:48pm
Quoting trademin
Doing fine This morning: secure 108 pips in the EURJPY-closed trade, SL hit, but projection could go up by a 40 pips more.-closed trade Gain 33 pips in the AUDUSD-closed Trade- could have got better- twice in and out but slippery trades. got involved in NZDUSD- slippery again +- 10 pips---not a good trade due to communication with the broker. the EURJPY has been showing a strong candle after breaking out the neck line....I was around this time! have a nice day, {image}
edit: I grabbed 24 more pips on the eurjpy Friday…there was some time left before the closed out for the weekend. Today I just had time to grab some 18pips more!
There is a gap today…
…securing another 26 pips on the way up.. closed trade for now , (+44 pips+24) not bad!- pair on a tentative pullback…
Yvon
  • #26,443
  • Dec 9, 2013 2:36am Dec 9, 2013 2:36am
Monday Nite Trade ( I missed out on getting entry ).

Missed out on getting this one. Bit late getting to my screen and did not want to chase the trade. Set a limit order to get in at the proper price but missed by 1 pip. Price now moved away so order now cancelled.
Price moved strongly away from the 21 & closed above the 8. Confirmed with a bounce off Zero Line = TC.
Anyone else spot any set ups forming ?

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  • #26,444
  • Dec 9, 2013 11:47am Dec 9, 2013 11:47am
Quoting binnie
Monday Nite Trade ( I missed out on getting entry ). Missed out on getting this one. Bit late getting to my screen and did not want to chase the trade. Set a limit order to get in at the proper price but missed by 1 pip. Price now moved away so order now cancelled. Price moved strongly away from the 21 & closed above the 8. Confirmed with a bounce off Zero Line = TC. Anyone else spot any set ups forming ? {image}
Update : Looks as if the BRN 1.5100 is going to be hard to take out ( if at all LOL ).
Patience now until we get some movement either way.

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What do you guys see ? Share it
  • #26,445
  • Edited Dec 10, 2013 6:35am Dec 9, 2013 12:48pm | Edited Dec 10, 2013 6:35am
EURJPY :


Volatility today Is quit low. But technically speaking a long trade on that pair, for me is still valid. It doesn’t mean I am right. On the 4hrs chart a new TC is on the making, a guess , the uptrend is not over . As profit, 143 could be a barrier(and target). More than 100 pips could then be available for grabbing! I took the trade long and my target is 143, “ratchetting” the SL !

I got out SL very closed so got it, that was a free ride. no lost, gain 10 pips!-waiting for next opportunity
Yvon
  • #26,446
  • Dec 9, 2013 1:00pm Dec 9, 2013 1:00pm
Quoting trademin
EURJPY : Volatility today Is quit low. But technically speaking a long trade on that pair, for me is still valid. It doesn’t mean I am right. On the 4hrs chart a new TC is on the making, a guess , the uptrend is not over . As profit, 143 could be a barrier(and target). More than 100 pips could then be available for grabbing! I took the trade long and my target is 143, “ratchetting” the SL !
Right on Yvon ,
Looking at the Daily will give you added confidence & EXPECTATION that your 143 is becoming more of a reality. These current highs have not been tested since 2009. How far can this go ???
Go get those pips champ

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  • #26,447
  • Dec 9, 2013 1:11pm Dec 9, 2013 1:11pm
Quoting binnie
{quote} Right on Yvon , Looking at the Daily will give you added confidence & EXPECTATION that your 143 is becoming more of a reality. These current highs have not been tested since 2009. How far can this go ??? Go get those pips champ {image}
thanks binnie,

Indeed it gives more confidence!-how far ? maybe 162.00+---it is a projection only, from weekly inverted HS- targeting the last high from Jan 2008
Yvon
  • #26,448
  • Dec 9, 2013 1:26pm Dec 9, 2013 1:26pm
Quoting Arrow
{quote} Hi naustingfx, I took the recent retracement (from 1.3560 to 1.3531). However, it turns out red pips for me. The TP was placed at 1.3525, previously stubborn resistance. The price never went there, it shoot up instead. SL was hit at 1.3595 and happily re-enter the EU with bullish view intact. Now targetting 1.3750 and a possibility of 1.38, with SL mentally placed below the 21 day EMA (around 1.3550) Richard, don't be too shy to post. We are here to help each other. You have binnie, Yvon, HappyMe, Naustingfx, Mr Philip Nel himself.. and.....
Hi all.

Thanks for the kind words it shows what a decent thread/forum this is...long may it continue.

I was only joking about being shy to post......really..it was more of a backwards compliment to all of you for sharing your knowledge..

I enjoy posting as its more like keeping a diary of trading...with people adding comments where required..much better than a journal which no one else reads.

I was also being a little self-deprecating too, so anyone who lurks but does not post can see that not everyone is not a genius at trading..so they should feel free to post and ask questions...I always see people viewing the thread but not so many people posting..

That's all folks..

I got taken out of both of my trades when they both should have been winners.... but i learn and will move on..

1st)
The first trade..i tampered with the stop loss for no reason and should have left it under the 89 and trendline...lesson learnt.

2nd)
Against the trend and RT...(i am not wanting to trade these now..only TC's)
I did not monitor the trade and was to optimistic with the TP target...as it was a counter trend..so got took out by 4 pips...

Lessons learnt..
Don't move the stop loss unnecessarily..
Careful with counter trend trades..they need to be monitored and do not have an ambitious TP...

cheers all
Richard...
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  • #26,449
  • Dec 9, 2013 1:39pm Dec 9, 2013 1:39pm
Quoting trademin
{quote} thanks binnie, Indeed it gives more confidence!-how far ? maybe 162.00+---it is a projection only, from weekly inverted HS- targeting the last high from Jan 2008
I know we are only projecting our own ideas here but it's still fun
Calculating these levels where we would like to see price head is like buying a train ticket for a long trip / holiday.
The 139.00 bound for "who-knows -where" has just left the Station -

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  • #26,450
  • Dec 9, 2013 1:48pm Dec 9, 2013 1:48pm
Quoting yaakruay
{quote} Hi all. Thanks for the kind words it shows what a decent thread/forum this is...long may it continue. I was only joking about being shy to post......really..it was more of a backwards compliment to all of you for sharing your knowledge.. I enjoy posting as its more like keeping a diary of trading...with people adding comments where required..much better than a journal which no one else reads. I was also being a little self-deprecating too, so anyone who lurks but does not post can see that not everyone is not a genius at trading..so they...
Had a feeling you were just kidding
You know as much about the Rythym as the rest of us. Your summary should be written in stone - it really says what we must all learn

1st)
The first trade..i tampered with the stop loss for no reason and should have left it under the 89 and trendline...lesson learnt.

2nd)
Against the trend and RT...(i am not wanting to trade these now..only TC's)
I did not monitor the trade and was to optimistic with the TP target...as it was a counter trend..so got took out by 4 pips...

Lessons learnt..
Don't move the stop loss unnecessarily..
Careful with counter trend trades..they need to be monitored and do not have an ambitious TP...



I am off to work now so see you guys tonite - thanks Richard . Have a happy day all.
  • #26,451
  • Dec 10, 2013 2:19am Dec 10, 2013 2:19am
WATCHING ::nerd:

Just sharing these 3 for tonite. Only my expectation so does anyone else see something I might be missing ? I know there is some Pound news soon so be wary.
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  • #26,452
  • Dec 10, 2013 11:59am Dec 10, 2013 11:59am
EURGBP:

It is already at free ride. The Projection is .8481 …will see…
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Yvon
  • #26,453
  • Dec 10, 2013 1:23pm Dec 10, 2013 1:23pm
Quoting trademin
EURGBP: It is already at free ride. The Projection is .8481 …will see… {image}
Awesome - my projections if we can continue this run will be ;
wee bit of trouble at the 0.8400 but successfully through that the next station that I calculate is 0.8416 level
then on to 0.8460. Hope your train keeps chugging Yvon
  • #26,454
  • Dec 10, 2013 1:41pm Dec 10, 2013 1:41pm
WEDNESDAY UPDATE:

The UJ did not play out my expectations of a trend continuation so back to waiting for a sign

The GJ played out perfectly for those brave enough to try a counter trend short within Phillip's rules. Reject at major level - target back to 21 level but because of the potential run size , use a mid-way point of the 8 & 21 . This was also a confluence point with recent Highs so made for a good target level..
NB: This trade kicked in after my bedtime so I did not enjoy the ride. My enjoyment is seeing an expectation playing out according to my rules (excuse me ... I mean't Phillips Rules LOL )
Have a great day - see you tonite.

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  • #26,455
  • Dec 10, 2013 11:24pm Dec 10, 2013 11:24pm
EURGBP---EURJPY, both having the possibility to proudly draw TC! getting ready to take a bite again, again with closed SL.
Yvon
  • #26,456
  • Dec 10, 2013 11:59pm Dec 10, 2013 11:59pm
Quoting trademin
EURGBP---EURJPY, both having the possibility to proudly draw TC! getting ready to take a bite again, again with closed SL.
Hi Guys - agreed Yvon. I see similar on the EJ but will not be this current candle close. Maybe the next one in 4 hrs - unfortunately my sleep time but fingers crossed you guys can get a good signal. I note those few wicks - they tell me that it is not too bearish so could just be a bit of profit taking and a bit of resting ?

The EG needs to at least close above the 21 to tempt me. Again this may be a signal in 4 hrs from now.

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  • #26,457
  • Dec 11, 2013 1:48am Dec 11, 2013 1:48am
Quoting binnie
WEDNESDAY UPDATE: The UJ did not play out my expectations of a trend continuation so back to waiting for a sign The GJ played out perfectly for those brave enough to try a counter trend short within Phillip's rules. Reject at major level - target back to 21 level but because of the potential run size , use a mid-way point of the 8 & 21 . This was also a confluence point with recent Highs so made for a good target level.. NB: This trade kicked in after my bedtime so I did not enjoy the ride. My enjoyment is seeing an expectation playing out according...

Nice one Binnie..

WTF is that...The ones when you are sleeping/working and are not participating always play out.... .

That is my rule, not Phillips...lol

Well done mate, those are satisfying when you see the image and make the correct forecast... smug mode.... until the next loser

Cheers from 0 degrees England today...
  • #26,458
  • Edited 8:40am Dec 11, 2013 6:54am | Edited 8:40am
Ok, some development while I was sleeping. EURGBP: got some moves in profit while EURJPY went the opposite :closed trade by a SL too close.(lost 20 pips)-got back in(+10 pips already)

Explaination on EURGBP;

The last move is the result of a HS that turned around and at the same time it is a breakout of the HS one, the bigger one as well as a TC


Now , I am expected a possible large move at C since it is a weak sign of a rejection of HS one . (could be HS two neckline), while the Mac is bouncing (making a TC). If it is a rejection of the Whole HS one, then a large move would concretise… will see…
when I go to sleep I play safe, no bad as the result up to now!
edit: closed trade with 57 pips, light load.(EURGBP).
---EURGBP: I was expecting a pullback at that level (8400), doesn’t seem to have a noticeable resistance, light effect...breakng the 365...

getting to sleep again(!) getting tired, see you later



simple explaination: TC
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Yvon
  • #26,459
  • Edited 10:57am Dec 12, 2013 9:11am | Edited 10:57am
Here is a new example of a breakout AUDUSD, I don’t think it is possible to watch all pairs and be prepare to take action in one of them…well, I’m not quite ready to do that, even if I’m still waiting for some action from the EURGBP, EURJPY. That good offer came this morning with the AUDUSD. A nice breakout from the neckline just made some 130 pips, about the same range given by the head to the neckline, not bad!


The pair broke the 21ema, pulled back to it, then moved away, making a TC at the same time.-I just whish I was there sooner and grab more pips! Price will probably hit the lower part of the channel at .8900,some 40 pips lower… will see…
EDIT : there is a tight SL since pair is close to the lower part of the channel:secured some 45 pips.on the 1 hr chart:
---trade closed hit the SL: +46 pips.
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Yvon
  • #26,460
  • Dec 12, 2013 10:01am Dec 12, 2013 10:01am
there is some moves now from the EURGBP. And I am still expecting a strong candle...maybe this one?
Yvon
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