4 Hour Strategy (MACD)

Hey Kubiasty,

To show the method was still being used and working well I did a week of posting trades on the thread about 2 months ago (post around about 1470-1525? Not exactly sure but you can scroll though and find it). If you scroll back and find them you will see pictures of the exact trades.

The trades were posted live when they were taking (not retrospectively or pick and choose the best ones/winners), as you will it was over + 1000 pips for the week, including any losses.

Hope this helps

EDIT - post 29,311 - page 1466 was the final total for the week (+1,248 pips). Post leading up to that show all trades as taken including losers.

Hope this helps

UPDATE:

GBPCHF

Closed trade for around +53 pips (R:R - 1:1.25)

I still anticipate a possible move down to the 1.2800 level however, being a Friday afternoon I expected a retracement before reaching the 1.2800 level due to the divergence and the extended move from 1.2900. I would rather not hold it over the weekend.

If it weren't Friday I would have held out for 1.2800. R:R was still over 1:1 (1:1.25) making it an acceptable trade for me.

It may even make the 1.2800 today, but I would rather bank the pips then have a retrace which just sits there until Monday.

Anyway, hopefully someone got some pips out of it

Have a good weekend everyone

A potential trade I am looking at for this week

Market rhythm - pullback to 21ema continue to round level

Looks like this week could give plenty of opportunities.

Happy Trading

Hello Everyone, Newbie here.
Riiiiight .... (Watched and listened to all PhilNell)
Could you comment on this chart?

- Is it an inverted head and shoulders on the MACD? or just a wave 5 completing with divergence? or both?
Do we look for such confluence?

- So it has now pulled back to Weekly 21EMA and bounced completing a leg of pullback. Right?
Do we look for higher timeframe moving averages?

- Now if it breaks and closes above June 24 High it continues to Daily 89SMA.
or
- It pulls back a second leg to H4 21 EMA. Becoming a bull flag or spike and channel.
What do you think?

Happy trading
Isin

Hi Isin,

This is how I see it.

If you look at the 4h/1h it is suggesting higher moves. The problem I have with this pair is the Eur is weak and so is the Usd. This tells me that if we do get higher moves it could struggle or even fail to sustain higher moves.

Personally I may be interested in this but I will keep on eye on it as it approaches points of resistance. What this will likely come down to in my opinion is how weak the USD is.

My concern is it might just about make a new high before making a larger retracement. If it can sustain higher moves "Target 2" is where I would be looking at it going up to.

But hey, you can never be 100% sure with the forex market

Just my opinion anyway, hope this helps.

Potenital Opportunity EuzNzd

EurNzd could be setting up for an opportunity to the 1.5400 level

Rhythm - pullback to 21ema, continue to round level

Lets see how it plays out

GbpNzd Update:

Update from the opportunity I posted yesterday. Price is approaching a bounce point on the way to the 1.8000 level so I will be taking my profits and seeing how it reacts. If it breaks through I will look for a second trade down to the 1.8000 level as posted yesterday

USDJPY

Closed at 101.00 level for + 84 pips

Rhythm - pullback to 21ema, continue to round level.

EurUsd Update

Closed trades at "Target 2" mentioned in yesterdays post.

Trade 1 = + 51 pips / Pullback to 21ema - move to 1.2250 level (Rhythm)
Trade 2 = + 44 pips / Pullback to 21ema - move to 1.2250 level (Rhythm)

Total = + 95 pips

Hope this helps

EurJpy

Rhythm - break 21ema, pullback, move to round number (113.00)

Total + 78 pips

GbpChf

Potential opportunity I see

Price is above the 21ema and the 89 sma, targets are the 200/365 ma's then the 1.3000 level

Lets see how it plays out