4 Hour Strategy (MACD)

Nice looking counter trend trade on Eurusd. It is a counter trend trade so more risky. I have removed some of the other moving averages to give a clearer picture, pullback to 21 ema which also is a support level. Turned at 61.8% as well.

It's possible this could go down to the 1.10256 area if it is a zigzag correction. I will play it safe though at take profit at the support level and 21ema. If it is going further down it will like give another break and 21ema pullback anyway

R:R over 3:1, so worth it for a counter move if you ask me

Same sort of set up on Eurjpy and EurGbp as well I have taken.

Stopped out on EurUsd and Eur Gbp for small loss, I had a very tight stop.

In fact I think this might have even been a case of too tight a stop because I am not yet convinced that set up is nullified.

I will wait for the close of this 4h candle, we will likely know by then if the trade is still on or not

Looks like a nice set up on GBPCAD forming

Price broke out of trend line, pulled back to trend line and 21ema+89 sma

Overall trend is bullish

Personally I will likely take the break of this 4h candle, if it is a bullish candle that is how I would trade it anyway, but a bearish type pin bar on the trendl ine, it COULD be quite an explosive move away meaning anyone waiting for a nice bullish candle will miss out.

Lets see how it plays out

P.s - The counter trend trades are still on by the looks of it

also It can help to go on the 15min time period and put up trend lines in the 21 EMA and the 8 EMA to help come in on the deal also big thanks to BIG PHILLIP NEL cool guy

am on a dome now for about 8 mouths now on my longest running account of 6 weeks as of 17/8/15 start at £1000 now on £1245 with a peak of £1700 on 7/8/15 had a car crash was not at pc and lost money down to £1140 on this Monday for a guy doing this for real money how far of from real do you think I am im doing this full time Monday to Friday

Update:

Closed out my EurJpy trade, made up for the EurGbp and EurUsd pairs I got stopped out on plus a bit extra.

There seems to be a broadening top pattern appearing in the 30min GbpCad pairs.

I have closed out my trade and will wait and see instead if this pulls back a bit further before getting in. There is clearly uncertainty here now and I don't want to gamble as people already long may start to take profits here and push the market down. If it does break higher I will see if I can get another long entry to the 2.05778 level.

If not it will be just one of those trades you watch whilst it goes in the direction you anticipate, but there will always be another one next week!


Hi Ross - It's impossible for anyone else to say if you are ready to be honest, really only you will know that by being consistent on a demo account. Even when you switch over it becomes a lot more emotional, even if you are 100% certain you will conquer your emotions.

If you keep at it, you will get there. How soon?- That is another question my friend

NZDUSD 17 Aug 2015 sell

1. Price rejected 8ema / blue and 21ema / purple several times, not able to breach it or close above it.
2. Candles closed with inverted tail on past four occasions and where 21 & 8 ema are.
3. Pull back and move away twice and entry at 2nd pull away.
3. Where the entry is, noticed this is a resistance area in the past and thought it was ok to go ahead to enter trade since market has breached this level and closed below it at least 4-5 times in the past.
4. In addition, on daily time frame, market is turning downtrend again after a pull back to 21ema and trendline. Market rejected the trendline and 21ema a few times.
5. Weekly time frame - price has not yet breached the 8ema for several weeks now. There were pull back to the 8ema but was not able to cross it so far. Two inverted candles (consecutively), 4-5 bars away could indicate price to go down trend further.

I think the chance that NZDUSD to dip further is quite high given the momentum of the price movement. But at the moment, it is not looking good. Am keeping y fingers crossed. So this my opinion on this but do include your insight. Much appreciated.

Hi Nic,

I fully agree with the overall outlook of NzdUsd - It looks set to come down.

This just leaves it as an issue of timing, and in my opinion we have a slight problem at the moment.

In the 4h chart we made a new low, followed immediately by a new high in no less than 3 4h candles.

This strong buying which made a new high has signaled to many traders that this is likely to now make a new high or move up again.

This may or may not be what happens, but as a result of having a new low followed by a new high, technically traders are split as to whether this will be going up or down short term. This means, in my opinion, any buying or selling in between the new high and low will be right in the middle of no mans land where the bulls and bears are battling.

As a result I am currently on the sidelines with this pair, if the bears break lower there should be a good chance to get in on a pullback, if the bulls push this to new highs, there MAY be a chance to grab some pips to the upside, but with the overall trend down (as you correctly said), it might be better just to wait for a chance to short at a higher price.

That's how I view this pair at the moment

Looks like a nice set up in EurJpy

Price has pulled back to the 21ema, now looks to be heading higher

There is a chance of a larger pullback to the lower trend line but the 1:4 RR plus other technicals make the trade worth it for me.

We may see 1 or 2 small red candles down first before it moves up however

I have removed moving averages not in use as to give a clearer view

Thank you JonnyPip.

No problem nic

I have also taken two positions on Eur Aus

The first for reasons similar to the EurJpy - 21 ema pullback set up with macd signal

The second is because it also broke a trendline and pulled back in the 30min chart.

There is a higher chance of position 2 being stopped out as the stop is much tighter, so I use less risk money wise.

But because of the tight stop it gives a better R:R.

I am not convinced however this will make new highs yet, I may be wrong though

today at 09.00 GMT on the EUR/USD the price go's up to the ema 21 and go's back down for a good £

also the deals easy to do if you go on a small time period I like 15 min and put up a trend line on the ema 21 it go's up and come's right back down big thanks to BIG PHILLIP NEL

here is an EA i wrote. takes into account only trend continuation signals. feel free to test it and use it. let me know if you have any ideas on how to improve it. i will be happy to code it.

Great!
I will test it.
Thanks!

AUDNZD

16:00 Candle: August 19th/20th, 2015

WHEN YOU DISCOVER A PAIR THAT LOOKS GOOD, NEVER QUIT FROM WATCHING IT UNTIL YOU EVENTUALLY TAKE THE PIPS YOU ARE LOOKING FOR FROM IT AS THAT MAY BE THE MOST PROMISING OPPORTUNITY YOU MAY HAVE FOR THE MONTH

Yes! This has to do with a currency pair I have been watching for more than a week now. A trader here posted the chart with decent analysis, and I have to open the chart for the first time I guess since my trading career and I saw that this pair Aud/Nzd was moving smoothly...the road was just free...NOW the final target has been reached.

I feel I should post it to help show that sometimes the best option is to just stick to a very promising pair because that may be the exact opportunity that will bless you account for the month.

I had posted detail analysis on the pair few posts behind http://www.forexfactory.com/showthre...4630&page=1451 (PAGE 1451, POST 29005 AND 29006)

There I showed my thoughts/analysis clearly.

Today, the full destiny of my analysis was fulfilled!

Stoploss = 35pips
Take profit = 80pips

Happy trading!

USD/JPY : August 20th, 2015

I entered on the 1hr chart.

The blue mark is my entry and the red is my stop loss anticipation.

Ok EA installed and waiting to be tested. Thanks Pipsi cola

tried to make input settings to be more understandable