4 Hour Strategy (MACD)
I looked through a few currencies and thought Gold looked interesting trading next week. I copied you Binnie and put a Plan A and B on...see what happens next week.. I will be watching... Freewilly, I was thinking of you and the counter trends CT and thought Gold may be a good one for a CT to watch or trade. Lets watch and learn together..any ideas or suggestions anyone? {image}
{quote} binnie buddy, just like you said 8MA now is playing the catch. Bullish tone is strong. The only pullback was 4 hours ago but 8MA managed to hold and price went back up. Now at 170.90 (+83 pips currently). I guess I will stop at 171.00 as I see resistance is there and BOJ press conference coming. My stop loss initially set at 169.25 (open price at 4H bar when I opened my position). Now I raised it to 170.47.
{quote} binnie buddy, just like you said 8MA now is playing the catch. Bullish tone is strong. The only pullback was 4 hours ago but 8MA managed to hold and price went back up. Now at 170.90 (+83 pips currently). I guess I will stop at 171.00 as I see resistance is there and BOJ press conference coming. My stop loss initially set at 169.25 (open price at 4H bar when I opened my position). Now I raised it to 170.47.
. It was a winner & you played it out according to your rules. Nothing more to be done there now so on to the next one. I don't do the GJ but have posted my ideas - see if you line up with what I am seeing
. I have A & B scenarios to watch. My preferred is for a nice pullback to the 21 & a move away as a TC. But if Price does the opposite to what I want ( & it usually does 
) then I would watch for the good old BPM on a lower Time frame as price can then go searching for the 89 as per Rythym rules. The only other thing I can add here is that Phillip suggests that when price is between the 200 & 89 ma's , there might be some consolidation & trades may well be from bounces. That will not affect our short to the 89 meantime.
GBPJPY {image}
Remember what Phillip tells us about going CT though - only from a serious level ( BRN & upper T/line Resistance area ) and only towards the 21ma and with a minimum 1.5 : 1 RR. On your chart there is no target shown . So we can help urge price down for you, can you tell us where we have to get it to?
Aud/JPY. I want to check my understanding of macd TC I wanting to be able to anticipate them coming and also how to trade them once they arrive. This chart seemed the best for a TC from the ones i have checked today. We will wait and see, has anyone else got anything? {image}
{quote} Good trade FW , I see you are out now with some nice pips (40??) but it can be frustrating to see some of your haul being sucked back into the pot
I'm watching other pair to spot other opportunity now. {quote} You want to be cautious on the Aussie pairs - there is news tonight
{quote} Good trade FW , I see you are out now with some nice pips (40??) but it can be frustrating to see some of your haul being sucked back into the pot
{quote} You want to be cautious on the Aussie pairs - there is news tonight
{quote} My A/J anticipated TC challenging previously highs played out perfectly.. Maybe that's why it got there fast, because of the news. Why is it the ones I only watch and don't participate in play out......
. ( exactly right to the pip I might add ).{quote} Gold has a strong uptrend.... I learned my lesson on CT. I'll wait for TC which looks like to happen after a few retracement.
. Lets see what happens here....
{quote} Yeah, that strong move up TC was cancelled out, price reversed back to the 8. Now is price consolidating for another strong move up? Daily has room to move up. But you are correct there is a strong resistance band above....wait for it to move above that area and see what happens. Play or watch, I will watch.. {image}
Just gotta be patient & wait for Mr. Price to come round to my way of thinking
