AUDUSD 
4 Hour Strategy (MACD)
- #28,442
- Oct 21, 2014 4:57am Oct 21, 2014 4:57am
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
Thanks JonniPip’s for your comment for the very appropriate, straight forward, right to the meat!
Nic, You did fine on that trade. Sometime the plan is ok, the trade seems to go ok, just like you did. Just to say that volatility gets around sometime and there goes your SL!
what do one really look for at the longer time frame - daily or even weekly and monthly?
To know what could happens in the near future, and one have to go by “anticipation” .
Look at the rhythm, where does it lead to?
If I go on a small boat on a sunny day, on the short term I will certainly check for any red flag floating on the shore and I'll wear one of those floating gear, I will feel safe. And for the longer term I will certainly make sure that I am not floating on the Niagara Falls, I will fell safer!
For the shorter time frame, 4hrs chart, I will certainly check for a red flag “on the news”, I will certainly check if the Risk/Reward is within my range, my tolerance, and the 4hrs macd strategy as my floating gears.
For the longer time frame, daily chart, not knowing what’s ahead is as much dangerous as the Niagara Falls. Is there any RT in formation? Does the price stands on the edge of a channel, is that channel is in an uptrend or downtrend? The price makes a figure? what does it involves?
Just by looking at the daily and knowing where my possibilities are as a trader, it could lead to a very nice trade or going straight into the Niagara Falls.
Yvon
- #28,443
- Oct 21, 2014 5:47am Oct 21, 2014 5:47am
{quote} Hi Nic, Thanks JonniPip’s for your comment for the very appropriate, straight forward, right to the meat! Nic, You did fine on that trade. Sometime the plan is ok, the trade seems to go ok, just like you did. Just to say that volatility gets around sometime and there goes your SL! what do one really look for at the longer time frame - daily or even weekly and monthly? To know what could happens in the near future, and one have to go by “anticipation” . Look at the rhythm, where does it lead to? If I go on a small boat on a sunny day, on...
I think I basically have understood the system quite well but I haven't quite let some facts about forex sink in my heart, for instance no system is perfect for forex because forex is not straight forward like maths where you plug in figures into a formula and you get the answer. In forex, it's like you make a flight plan, execute the plan but you have also to watch the weather and when necessary change the flight plan.
Thank you and Jonny for taking the time to answer. Very grateful.
- #28,444
- Oct 21, 2014 5:03pm Oct 21, 2014 5:03pm
{quote} Hi Nic, Thanks JonniPip’s for your comment for the very appropriate, straight forward, right to the meat! Nic, You did fine on that trade. Sometime the plan is ok, the trade seems to go ok, just like you did. Just to say that volatility gets around sometime and there goes your SL! what do one really look for at the longer time frame - daily or even weekly and monthly? To know what could happens in the near future, and one have to go by “anticipation” . Look at the rhythm, where does it lead to? If I go on a small boat on a sunny day, on...
No probs Nic, I am glad to help in anyway I can as I am now regularly making very good pips around this system and I have reached this point because of the help of others. I am very grateful, though I also realise how much I still have left to learn!
Yvon explained very nicely the situation for the longer term trading (as usual!). I was only just looking through the Cad/Chf chart which is showing the following
Hopefully these charts can elaborate a little on Yvons post and are not too confusing (its very late here!). That knowing the long term view can mean staying on the right side of the market, or as I show in the charts, can assure you even if you are stopped out there was no mistake, just a case of playing the odds with good risk management (i.e if there's a chance of you going over the Niagara Falls, make sure you tie your leg to something first!)
I fully empathize with what you said as well because I did exactly the same. Agonize over finding a system which is perfect to the point of obsession, catching every trade with maximum pips gained. Never getting stopped out or if I did, because price had flown in the other direction and putting my stop where I had was a master stroke which saved me huge losses. The perfect system which to this day I haven't come close to finding! Don't think I ever will and I accept that now. Not sure it even exists.
**For some reason cannot get the charts to upload but will as soon as it lets me
- #28,445
- Edited Oct 22, 2014 6:09am Oct 21, 2014 9:28pm | Edited Oct 22, 2014 6:09am
this one is about the CADCHF:
this is an example of a daily chart, what I am really looking for before looking at the 4hrs chart. It doesn't mean I am right about it, because someone else could see something completely different.
I will construct a structure to the market so I can see visually where the price should go by in rhythm and rules.
then I go to the 4hrs chart where the price is at. In this case the price should go back down since the daily showed a move away from the channel. by putting the FIB, it looks like the 61.8 FIB would contain that RT if any(on the daily) so SL will be respected cause if price get back up in the channel that thing will fly rapidly(my view)
But my point is this. when l look at the price bouncing on the 21ema: is it faithfull to bounce on the 21ema, in other way, is the price respect most of the time the 21ema or doesn't respect seriously the 21ema?=it helps to anticipate what I should expect from the market to do, to not be surprise of the price action itself.
hope it could help,
EDIT: as you can see, with that pair, traders likes the 1-2-3 formation and traders respect the divergences too.
EDIT: 9:07HR local it looks like the price is giving a try down, will see
this is an example of a daily chart, what I am really looking for before looking at the 4hrs chart. It doesn't mean I am right about it, because someone else could see something completely different.
I will construct a structure to the market so I can see visually where the price should go by in rhythm and rules.
then I go to the 4hrs chart where the price is at. In this case the price should go back down since the daily showed a move away from the channel. by putting the FIB, it looks like the 61.8 FIB would contain that RT if any(on the daily) so SL will be respected cause if price get back up in the channel that thing will fly rapidly(my view)
But my point is this. when l look at the price bouncing on the 21ema: is it faithfull to bounce on the 21ema, in other way, is the price respect most of the time the 21ema or doesn't respect seriously the 21ema?=it helps to anticipate what I should expect from the market to do, to not be surprise of the price action itself.
hope it could help,
EDIT: as you can see, with that pair, traders likes the 1-2-3 formation and traders respect the divergences too.
EDIT: 9:07HR local it looks like the price is giving a try down, will see
Yvon
- #28,446
- Edited Oct 23, 2014 4:13am Oct 22, 2014 5:09am | Edited Oct 23, 2014 4:13am
141017EURUSD :
I took it last Friday, short position, now secured about 25 pips with about 120 pips gain-now secured about 95 pips.-closed for about 100pips
the second chart is from the main platform, took those trades this morning, kind of late
-closed trade for about 40 pips
I took it last Friday, short position, now secured about 25 pips with about 120 pips gain
-now secured about 95 pips.-closed for about 100pipsthe second chart is from the main platform, took those trades this morning, kind of late
-closed trade for about 40 pips 
Yvon
- #28,448
- Edited 8:36pm Oct 22, 2014 8:07pm | Edited 8:36pm
AUDUSD Spotted this, this morning. Would you take this trade for sell? {image}
here is my view about it
From what you are showing, moving averages are flat, macd oscillate very close to zero, that pair is in consolidation. The range is not big enough for me to take any trade.
The idea of trading for me is where I could see a trade possibility. When there was a bounce in price and then there is a start of a bounce, I feel happy because that cat is alive! That cat is bouncing! But when I see the same cat, not moving, I certainly won’t bet a house on which way it will be going when it start to move.
Yvon
- #28,452
- Edited Oct 28, 2014 3:53am Oct 27, 2014 9:22am | Edited Oct 28, 2014 3:53am
this one is about the CADCHF: this is an example of a daily chart, what I am really looking for before looking at the 4hrs chart. It doesn't mean I am right about it, because someone else could see something completely different. I will construct a structure to the market so I can see visually where the price should go by in rhythm and rules. then I go to the 4hrs chart where the price is at. In this case the price should go back down since the daily showed a move away from the channel. by putting the FIB, it looks like the 61.8 FIB would contain...
From the oct 22 price was about .8450 and now today at around .8428- that is not a lot but moving in the right direction. Price did not go very higher than the 61.8FIB, as expected. About 20 pips secured.
Trade closed, -23 pips lost. Made a mistake on the SL while adding lots!
Too bad!
Yvon
- #28,456
- Oct 28, 2014 6:22am Oct 28, 2014 6:22am
Anticipation for today EURUSD {image}
Price went past 89sma alright but did not pull back and went all the way towards 200sma. This to me is a difficult trade as price stalled and ranged between 21ema and 89sma. And moved on the 200sma without pull back.
Yvon what's your feedback on my comment? How would you have reacted on this pair?
- #28,459
- Edited 7:26am Oct 28, 2014 6:58am | Edited 7:26am
{quote} Yvon, Did you trade today? Post your charts, will you?
I still believe that this should go down, but again, will see...
hit by sl ! lost -45 pips! relly not my day today!
Yvon
- #28,460
- Oct 28, 2014 8:02am Oct 28, 2014 8:02am
{quote} I am posting chart here,poor timing on some of them and again too close to price action!---bad day, really!