DislikedHi, Hope you all have a great weekend. Posting a question here: have any one of you who is testing and have tested this strategy whether it can be use for long term trade this is days or weeks or even up to months? NicholasIgnored
4 Hour Strategy (MACD)
- #27,563
- May 27, 2014 3:18am May 27, 2014 3:18am
The U/J could be moving up. The h1/h4 is looking bullish... but daily still under the 89...but moved and stayed above the 200, so trapped between the 200 - 89 moving between them. watch for an up move. The gbp/usd.... daily macd zero bounce up ?? trading above support trendline and above 8/21 H4 strong bullish move up through the 89, pull back to it....will it rocket it up from the trendline support and BPM from the 89. h1 strong move up, through 89 pullback to it.. the same move as last week... {image}
Looks like the market hasn't yet decided which direction to go. In situation, I have to talk to myself ..... so that I won't fall into the pit emotionally. Patience of part of the test in forex.
I have attached a chart. Is that aggressive turnaround? And do people trade aggressive turnaround?
- #27,566
- May 27, 2014 9:11pm May 27, 2014 9:11pm
This is EURUSD and USDCHF that I have traded last night, Asian Time. As for EURUSD, I have not taken at profit yet. It made it to 25ips gain but then I was asleep and neither did I turn on the expert advisor for partial profit taking. This morning these pairs were still in trade and a few pips gained. So I left it and re-adjusted my SL. Please see charts inserted.
My favorite pairs are AUDNZD and NZDUSD. But they have no direction at the moment plus the MAs are clustered together. Gives me the feeling that the market is tangled and need a bit of time to loosen them. Until then, I won't be trading them.
GBPUSD - Waiting for a pull back to 21ema on H4. Hopefully soon.
Do leave your comments. Happy trading.
My favorite pairs are AUDNZD and NZDUSD. But they have no direction at the moment plus the MAs are clustered together. Gives me the feeling that the market is tangled and need a bit of time to loosen them. Until then, I won't be trading them.
GBPUSD - Waiting for a pull back to 21ema on H4. Hopefully soon.
Do leave your comments. Happy trading.
- #27,568
- May 28, 2014 10:35pm May 28, 2014 10:35pm
{quote} Nice trades... Aussie and kiwi, I wouldn't trade them yet, just as you said, they are in congestion mode without a clear direction, you could scalp 10-20 pips from them though. The GBP/USD it looks ready to go down but i think that this is a strong support area and is an opportunity to buy to make it back to the 1.7 area. Cheers for the charts, it made me look at the Euro again, even though it's one of the 4 i check, i never seem to trade it, so i just took a cheeky scalp on it following the system. see if it will make it back down to the...
Here are two charts, USDCHF and EURUSD that I traded two days ago (see post 27566) and have now closed the trades. Very glad with what I have achieved mostly that I am able to implement the strategy with success.
But I am not perfect yet. As with USDCHF, I could have pocketed 30pips on the remaining trade but manage to take 8pips only because I was taken out when the market being to turn volatile suddenly. There was no red new that I know. Not making the 30pips is not my greatest concern, but how does one actually handle it when they are in profit and thinks that there might be potential for the market to move on? Can someone here give me your insight?
Thanks.
- #27,569
- May 28, 2014 10:46pm May 28, 2014 10:46pm
Hi everyone,
Happy to be posting charts again. It's time I contribute and give back what I have been taking for a long time now. This forum is a excellent place to learn and ask questions. The best thing is, people here bother to help. Thank you all so much.
Here is EURUSD and USDCHF again.....
On the Daily of USDCHF, does it look like there is a divergence?
As for AUDNZD and NZDUSD, they have started moving. AUDNZD move out of the cluster of MAs. But I did not trade any of them, the situation did not quite allow for entry. I am waiting for price to pull back to 21ema and move away for entry. Patience is being tested again.
Happy to be posting charts again. It's time I contribute and give back what I have been taking for a long time now. This forum is a excellent place to learn and ask questions. The best thing is, people here bother to help. Thank you all so much.
Here is EURUSD and USDCHF again.....
On the Daily of USDCHF, does it look like there is a divergence?
As for AUDNZD and NZDUSD, they have started moving. AUDNZD move out of the cluster of MAs. But I did not trade any of them, the situation did not quite allow for entry. I am waiting for price to pull back to 21ema and move away for entry. Patience is being tested again.
- #27,570
- May 29, 2014 12:41pm May 29, 2014 12:41pm
{quote} Thanks Richard. It is encouraging to know that people find my charts helpful. It means I am improving. I have been consistently and seriously studying and implementing this strategy for about 5 months now and I am gaining a lot of confidence and able to use this rather successfully. You make my day.
The moment i am watching a trade in action is when things go terrible, i will close profits early and move stop losses to make more losses.
That is me being brutally honest.
Set and forget is the only way for me, not that i trade that way very often but i should.
- #27,577
- Jun 3, 2014 1:22am Jun 3, 2014 1:22am
{quote} No chance for EURUSD / USDCHF yet. Their market is basically moving but only if one is experienced enough to take the reverse trend trade late last week, one would be still in the trade. It was a little volatile or indecisive??? that is if you look at the two long tail candles. I am still waiting for my opportunity to come. Maybe for it to pull back to 21ema and move away and see if there is a chance to enter trade. At the meantime, I a doing some back testing on reverse trend trade. Given time I should be able to pick up. Thanks Richard...
I haven't got a clue really..
I just looked at the Euro and now i am thinking there maybe a move up before the longer bigger move down happens..
Weekly shows lots of room to move down.
Daily can move up for a pullback to 200/89 before moving down
H4 double bottom, divergence on macd.......wait for a close above the 8/21 to move back to the 89...
These are just my thoughts, i probably will not trade as my GBP is still open and doing nothing...