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4 Hour Strategy (MACD)

  • #28,421
  • Edited 6:44am Oct 15, 2014 5:51am | Edited 6:44am
on the EURUSD: hit by SL: lost 35 pips. I turned around ! bought but already hit by SL: 38 pips gain!
(At 8:30h the results were negative that is why I turned around rapidly made my last trade at zero and add long position to make it a gain.)
still 2 opened long positions soon to be hit by target...

just been hit + 26pips gain
again in and out with another gain +23 pips
Attached Image (click to enlarge)
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Yvon
  • #28,422
  • Oct 15, 2014 10:50am Oct 15, 2014 10:50am
My cheeky little trade for the day..


Set up on my phone at work and then a 30 minute cycle home and bingo...profit in my account!

Normal trade.

Following the easy trendlines...down..

price below 89....below macd...

price making that nice slow meander back to the 8/21 and then boom down again...

Free bacon sarnie for me tomorrow
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  • #28,423
  • Oct 15, 2014 10:55am Oct 15, 2014 10:55am
Quoting yaakruay
My cheeky little trade for the day.. Set up on my phone at work and then a 30 minute cycle home and bingo...profit in my account! Normal trade. Following the easy trendlines...down.. price below 89....below macd... price making that nice slow meander back to the 8/21 and then boom down again... Free bacon sarnie for me tomorrow {image}

nice trade! congrat!
Yvon
  • #28,424
  • Oct 16, 2014 1:50am Oct 16, 2014 1:50am
Quoting yaakruay
My cheeky little trade for the day.. Set up on my phone at work and then a 30 minute cycle home and bingo...profit in my account! Normal trade. Following the easy trendlines...down.. price below 89....below macd... price making that nice slow meander back to the 8/21 and then boom down again... Free bacon sarnie for me tomorrow {image}
Hey yak,

Nice trade I'm in this as well from 135.915. Looks like could get a chance to add to the position here as well soon! As far as i can see it could be pretty clear sailing from here down to the 134.40 mark, weather permitting (news!)

However, this could also be setting up here for a move back up to the 89sma first before it heads lower. So might have to be careful with this one!
  • #28,425
  • Oct 16, 2014 1:57am Oct 16, 2014 1:57am
SL to break even as this above this 100% mark red candle I think will be back to 89sma, if not this is where I will add!
Attached Image (click to enlarge)
Click to Enlarge Name: Eur Jpy 5min.png Size: 75 KB
  • #28,426
  • Oct 16, 2014 2:13am Oct 16, 2014 2:13am
Added another short with less units (slightly late as I was typing!)

Moved second stop to net BE point so either plain sailing down from here with extra units or will turn around and take me out for no loss.

Risk : 0 pips
Reward : 0-250 pips

Just how I like my trades!
Attached Image (click to enlarge)
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  • #28,427
  • Oct 16, 2014 3:38am Oct 16, 2014 3:38am
EURUSD

Entered this a little late. Nice round top formed and TP:SL ratio 2:1. TP at 21ema. Price rejected 200sma (see last four candles). Comments anyone?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_H4_16_Oct_2014.png Size: 27 KB


Yvon,

Which software do you use to draw your charts?
  • #28,428
  • Oct 16, 2014 3:54am Oct 16, 2014 3:54am
Quoting nic73
EURUSD Entered this a little late. Nice round top formed and TP:SL ratio 2:1. TP at 21ema. Price rejected 200sma (see last four candles). Comments anyone? {image} Yvon, Which software do you use to draw your charts?
that was a very nice trade Nic!

I’m using the tools on MT4 and "Paint."
Yvon
  • #28,429
  • Oct 16, 2014 10:58am Oct 16, 2014 10:58am
Quoting yaakruay
My cheeky little trade for the day.. Set up on my phone at work and then a 30 minute cycle home and bingo...profit in my account! Normal trade. Following the easy trendlines...down.. price below 89....below macd... price making that nice slow meander back to the 8/21 and then boom down again... Free bacon sarnie for me tomorrow {image}
Hey yaak,

Did you stay with it down to the 134.40 mark??

Tagged my take profit order at around the 134.38 mark for a nice combined total of around 275 pips then rocketed back up! Looks like the start of a larger move up now in the Eur/Jpy as it's looks to have completed its pullback in the daily chart which started at the beginning of the year. Should be pretty much long from here in Eur/Jpy unless price breaks down below todays low.

Lovely counter trade btw nic!

Anyone seeing any good sets ups across the pairs at the moment??
  • #28,430
  • Oct 17, 2014 12:08am Oct 17, 2014 12:08am
Quoting JonnyPip
{quote} Hey yaak, Did you stay with it down to the 134.40 mark?? Tagged my take profit order at around the 134.38 mark for a nice combined total of around 275 pips then rocketed back up! Looks like the start of a larger move up now in the Eur/Jpy as it's looks to have completed its pullback in the daily chart which started at the beginning of the year. Should be pretty much long from here in Eur/Jpy unless price breaks down below todays low. Lovely counter trade btw nic! Anyone seeing any good sets ups across the pairs at the moment??...
No, I didn't...i opened the trade by looking on my phone whilst getting ready to leave my real time job and dreaming of making a living from my fantasy job of trading online...hohohohahahahehehe ..if only...

Anyway, i just wanted a winning trade as i hadn't made a trade for a few days. so i just scalped i think it was 15 pips...i started off with a 10 pip stop loss and 15 pip profit...but then moved the stop loss to 15 just to be safe..... i cycled home from work....takes about 30 minutes and when i got home turned on my pc and bingo...profit banked....those are the trades i like...

But, i have just opened a sell on there again EJ with a small stop loss again...no take profit...will just let it run and see what happens...


Cons...it could make a run up to the 89 as it has closed above the 8/21...but a 15 pip stop loss so worth the risk..imho...

I have learnt so much in the previous few months of not having to have huge stop losses in place...saved me a small fortune..
Attached Image (click to enlarge)
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  • #28,431
  • Oct 17, 2014 2:29am Oct 17, 2014 2:29am
Quoting yaakruay
{quote} No, I didn't...i opened the trade by looking on my phone whilst getting ready to leave my real time job and dreaming of making a living from my fantasy job of trading online...hohohohahahahehehe ..if only... Anyway, i just wanted a winning trade as i hadn't made a trade for a few days. so i just scalped i think it was 15 pips...i started off with a 10 pip stop loss and 15 pip profit...but then moved the stop loss to 15 just to be safe..... i cycled home from work....takes about 30 minutes and when i got home turned on my pc and bingo...profit...
Hi Yaak,

I think you are right about the run to the 89sma. I've got a long position in the Eur/Jpy up to 89 sma. Think this is now the start of the next leg up in that currency pair in the long term.

Will take profit at the 89 sma though as it's a friday so nice not to have to hold over the weekend.

GBP/AUD has made a nice pullback to 21ema in 4h as well and looks like it could make a run up to the 1.85140 level before today is out, if it gets enough momentum. I'm already long from around the 1.8235 level (move off 200ma) so added a smaller size at this 21ema pullback and moved stop to net BE.

So no risk left in this trade, lets see if it gets to the 1.8514 mark or just fizzles out into no volatility this afternoon.
  • #28,432
  • Oct 17, 2014 3:22am Oct 17, 2014 3:22am
Quoting JonnyPip
{quote}GBP/AUD has made a nice pullback to 21ema in 4h as well and looks like it could make a run up to the 1.85140 level before today is out, if it gets enough momentum. I'm already long from around the 1.8235 level (move off 200ma) so added a smaller size at this 21ema pullback and moved stop to net BE. So no risk left in this trade, lets see if it gets to the 1.8514 mark or just fizzles out into no volatility this afternoon.
ok guys be nice!!
GBP/Aud:4Hr
I'm actually thinking of entering a short when price hits the green rectangle approx (1.8375). Price has been bouncing off the 89MA, MACD going down. Looking for take profit at red rectangle.
Be gentle, first possible trade using this approach, just thought I would obtain feedback having planned the trade and waiting for price to reach my entry. S/L would be set around high 1.84 level pehaps?



Attached Image (click to enlarge)
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  • #28,433
  • Edited 5:51pm Oct 19, 2014 4:45pm | Edited 5:51pm
trade i took right away on the DE30 indices.

Round bottom formed. i am looking for a R2R > 1:2 when hitting the EMA21.

Additional it looks like a divergence is forming on the MACD which might result in a change of the trend in the M15, which could result in even better R2R.

Lets see how it will work out.


UPDATE: had to close the trade to keep losses small as PA seems to bounce of the EMA5
waiting for a new entry signal
Attached Image(s) (click to enlarge)
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  • #28,434
  • Oct 19, 2014 7:02pm Oct 19, 2014 7:02pm
141017 EURUSD:
I took the trade Friday and just close it today. + about 40 pips gain.
Macd divergence...
Attached Image (click to enlarge)
Click to Enlarge Name: 141017EURUSD.png Size: 131 KB
Yvon
  • #28,435
  • Oct 19, 2014 7:44pm Oct 19, 2014 7:44pm
Thank you all for your relies, comments and great insight. Learning from your posts. I keep learning to improve. Sometimes, some fact takes a long time to understand and engraved into my head, but never give up.

It's Monday morning, back to my usual routine to go through each of the five pairs I trade and take notes.

GBPUSD:
1) on H4 market is sitting on 89sma thus can't really tell whether the market is heading up or down.
2) H4 - 89sma, 21ema and 8ema are close together, is this an indication could move up and down?
3) Daily chart is on downtrend mode.

AUDUSD:
On H4-
1)89/21/8 MAs are close together, sign that market could go up and down (ranging).
2) On uptrend mode but daily and weekly indicate downtrend
3) Keeping in mind 0.8861 level is not far away.

Got to wait and see how market move.

NZDUSD:
H4-
1) uptrend
2)Market pulled back to 21ema with MACD bounce off zero (weak)

Might sell for some 20pips

AUDNZD:
H4-
1)Market hovering over 21 / 8 and 89 MAs and 50%FB - could there be a retracement from 50%?
2) Rejected 21ema several times
3) Looks like pull back and move away happening ?

Daily-
1) Uptrend
2) rejected 8ema

Eurusd:
H4-
1) Uptrend

Daily-
Downtrend and moving away from 21ema

Anticipation: Trade between 21ema and 89sma but got to wait for pull back and move away from 21ema.

Value your comment as I am still learning to analysis the market on the different charts.
  • #28,436
  • Oct 19, 2014 7:47pm Oct 19, 2014 7:47pm
NZDUSD

Trade entered and now at 22pips profit which is TP1.
SL set to BE.

Waiting to see if the market will move past TP1 and go on to reach TP2.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD_H4_20_Oct_2014.png Size: 27 KB
  • #28,437
  • Oct 20, 2014 6:31am Oct 20, 2014 6:31am
Referring to post 28436 above. I did the trade and was stopped out at BE. It was making a nice 25pips but I did not take the profit, which is alright. At least I gave it a try and I consider it a success. While I am waiting for comments on the soundness of this analysis I have also observed something else with both the H4 and Daily chart on this pair.

You see, I have been battling for long time now on 2 issues:
1) how is interpret the Daily (or even weekly and monthly) chart while taking trade based on H4 and
2) many times I have been disappointed as I observe that the market seems to me moving away fro 21ema, trigger the trade but it won't move further. I have made losses on such situation.

But today, I have made this discovery and hopefully I have right in some ways. But do correct me if I am not. See the charts below and the comment within them. Hopefully you could understand what I am trying to say. As some of you have commented, English is not my first language so you might find it difficult to understand. But try to read it and I need your feed back please, on my interpretation of the charts:

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Attached Image (click to enlarge)
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  • #28,438
  • Oct 20, 2014 11:43am Oct 20, 2014 11:43am
Quoting nic73
Referring to post 28436 above. I did the trade and was stopped out at BE. It was making a nice 25pips but I did not take the profit, which is alright. At least I gave it a try and I consider it a success. While I am waiting for comments on the soundness of this analysis I have also observed something else with both the H4 and Daily chart on this pair. You see, I have been battling for long time now on 2 issues: 1) how is interpret the Daily (or even weekly and monthly) chart while taking trade based on H4 and 2) many times I have been disappointed...
Hi Nic,

From what I can tell you didn't do anything wrong. Price moved away, pulled back to 21ema now it's likely heading to the 200. Slowly though as no news today.

Personally I do not move my stop loss to b.e straight away as moving it to a point on the chart where there is no technical barrier between the price and your stop will result in you getting stopped out merely on a small pullback.

From what i can tell, there is no right or wrong way to do it, just that if you do regularly move your SL to BE you have to be prepared to watch trades take you out at break even before heading in the direction you first anticipated.

Whereas not moving you SL to break even straight away may mean seeing you actually lose more money physically on trades as you leave the risk on the table. But you can make more profit by not missing out on trades which pullback to the break even then carry on

Neither way is right or wrong, you just have to accept that whatever way you choose to trade will results in certain situations arising which you just have to accept and look for the next trade.

Moving your SL to BE after 25/30 pips will take your risk out of the trade, but the flip side is you will have to get used to, and accept, getting stopped out regularly.
  • #28,439
  • Oct 20, 2014 5:08pm Oct 20, 2014 5:08pm
Thank you Jonny.

Yvon, can you help me with the post 28437, please? And what do one really look for at the longer time frame - daily or even weekly and monthly?

Nicholas
  • #28,440
  • Oct 20, 2014 5:35pm Oct 20, 2014 5:35pm
Binnie since you are online can you help me with the above post too? thanks
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