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4 Hour Strategy (MACD)

  • #29,601
  • Aug 10, 2016 3:45am Aug 10, 2016 3:45am
Quoting ketabd
Image {image}
Regards the harmonic pattern, we don't trade this kind of stuff here. Better to stick to the rules outlined in the thread.

In many ways it is completely unnecessary and in my opinion a good example of how people try and over analyse the market.

If the pattern is correct (and I'm not saying it is) and the price is going to move down, then it will break the 21ema, pullback and move lower.

If the pattern is wrong (and I'm not saying it is), the price will continue to pullback to the 21ema and move higher.

So you can see, in my opinion these type of patterns and analysis aren't helpful as they can amount to trying to guess the future. It is far better instead to wait for the market to show you what it is doing and simply react to it.

i.e

Break 21ema, pullback, move lower (if it does this, you are trading the pattern anyway without even needing to have it on the chart or knowing it's there)
Pullback to 21ema, fail to break below, bounce and continue.

Hope this makes sense

  • #29,602
  • Aug 10, 2016 6:50am Aug 10, 2016 6:50am
Quoting JonnyPip
{quote} Sounds like a great trade guiyee, price has made a daily high of .72269 so far As Orange said, RBNZ Rate Decision in about 12 hours so be cautious leading up to it. Well done!
Quoting OrangeRANGE
{quote} NZD Offical Cash Rate later today bro. Stay away from Kiwi pairs (unless you are doing demo it is fine).
Thanks guys
Yes i was aware of the news, but price was very close to TP already so in worst case scenario I would have left the position BE since I moved SL.

Here is the chart. It was almost a 1:3 Risk/Reward on this one.

Attached Image (click to enlarge)
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  • #29,603
  • Aug 10, 2016 7:02am Aug 10, 2016 7:02am
Quoting orangeRANGE
USDcad Sign of "fatigue" up trending. Nothing much happened since last Friday's nfp. {image}
Yeap. As anticipated.

http://www.forexfactory.com/showthre...65#post9074165

Attached Image (click to enlarge)
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  • #29,604
  • Aug 10, 2016 7:03am Aug 10, 2016 7:03am
Quoting orangeRANGE
GU {image}
http://www.forexfactory.com/showthre...87#post9074187

Yeap. This one too.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 59 KB
  • #29,605
  • Aug 10, 2016 7:05am Aug 10, 2016 7:05am
Quoting orangeRANGE
EU Some sign of support from 200sma here {image}
http://www.forexfactory.com/showthre...33#post9074733

Yeap. Also this one.

Attached Image (click to enlarge)
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  • #29,606
  • Aug 10, 2016 7:14am Aug 10, 2016 7:14am
EURaud

This one "might" just the same "story" as GU here: http://www.forexfactory.com/showthre...78#post9076378

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4.png Size: 60 KB
  • #29,607
  • Aug 10, 2016 7:46am Aug 10, 2016 7:46am
Quoting guiyee
{quote} {quote} Thanks guys Yes i was aware of the news, but price was very close to TP already so in worst case scenario I would have left the position BE since I moved SL. Here is the chart. It was almost a 1:3 Risk/Reward on this one. {image}
Great trade guiyee
  • #29,608
  • Aug 10, 2016 7:54am Aug 10, 2016 7:54am
Quoting JonnyPip
{quote} Regards the harmonic pattern, we don't trade this kind of stuff here. Better to stick to the rules outlined in the thread. In many ways it is completely unnecessary and in my opinion a good example of how people try and over analyse the market. If the pattern is correct (and I'm not saying it is) and the price is going to move down, then it will break the 21ema, pullback and move lower. If the pattern is wrong (and I'm not saying it is), the price will continue to pullback to the 21ema and move higher. So you can see, in my opinion these...
Thnx for réponse
You are Right thé succeful trader must respect his one system
I Will try to understand the rythm on moving averages that u use.....
Moroccan trader
  • #29,609
  • Aug 10, 2016 7:57am Aug 10, 2016 7:57am
Quoting ketabd
{quote} Thnx for rponse You are Right th succeful trader must respect his one system I Will try to understand the rythm on moving averages that u use.....
  • #29,610
  • Aug 10, 2016 8:14am Aug 10, 2016 8:14am
GbpNzd Update

Closed trade at 1.8000 level

Total = + 258 pips

Rhythm - Break 21ema, pullback, move to round level

Attached Image (click to enlarge)
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  • #29,611
  • Aug 10, 2016 8:28am Aug 10, 2016 8:28am
Good trade on volatil pair ! !!!
Moroccan trader
  • #29,612
  • Aug 10, 2016 9:01am Aug 10, 2016 9:01am
GbpJpy Update

Trade 1 = + 153 pips
Trade 2 = + 179 pips

Total = + 332 pips

Rhythm - Pullback to 21ema, move to round level (4h) / Move to 89sma, turn away, move to round level (1h) **Notice the diferent market rhythm set ups on both time frames showing 1 move/supporting each other**

Attached Image (click to enlarge)
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  • #29,613
  • Aug 10, 2016 4:54pm Aug 10, 2016 4:54pm
Quoting orangeRANGE
EURaud This one "might" just the same "story" as GU here: http://www.forexfactory.com/showthre...78#post9076378 {image}

Thanks for the charts Orange. You make me think about charts in different ways. That is a good thing.

I am pondering this G/U setup. Pop through, pull back....waiting.
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  • #29,614
  • Aug 10, 2016 5:14pm Aug 10, 2016 5:14pm
Quoting jcat
{quote} Thanks for the charts Orange. You make me think about charts in different ways. That is a good thing. I am pondering this G/U setup. Pop through, pull back....waiting. {image}
You are welcome.
  • #29,615
  • Aug 10, 2016 5:28pm Aug 10, 2016 5:28pm
I have been looking for a simple way to trade FX that won't consume so much time. I hope you don't mind me posting my charts as I am beginning to study this system. I would love to have any help I can get!

Here is my first chart. My reason for entry = Crossed 89sma, came back to 21 ema, bounced and closed above 89sma. In addition, I believe the MACD showed a TC at the green arrow. I would love any comments and instruction. Thanks in advance!
Attached Image (click to enlarge)
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  • #29,616
  • Aug 10, 2016 5:30pm Aug 10, 2016 5:30pm
AUDcad

The trend vs macd (of H4) here suggest that the price "might" be going down to 89sma.

Same " trend vs macd behaviour" on the daily tf - it suggest to pullback to 21ema.

Might be an opportunity for short position to bank in some pips here soon. Wait and see now.

Attached Image (click to enlarge)
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  • #29,617
  • Aug 10, 2016 5:34pm Aug 10, 2016 5:34pm
I saw my pic was hard to see. Maybe this is better.
Attached Image (click to enlarge)
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  • #29,618
  • Aug 10, 2016 5:42pm Aug 10, 2016 5:42pm
Quoting elway
I have been looking for a simple way to trade FX that won't consume so much time. I hope you don't mind me posting my charts as I am beginning to study this system. I would love to have any help I can get! Here is my first chart. My reason for entry = Crossed 89sma, came back to 21 ema, bounced and closed above 89sma. In addition, I believe the MACD showed a TC at the green arrow. I would love any comments and instruction. Thanks in advance! {image}
Hello there. Welcome.

Price has been ranging between these 2 MAs (see the box). No obvious trend (plus macd shows no sign of good entry). All the MAs bunching closely to each other anyway (not a good setup to trade).

The heart of this system is market rhythm. So let this pair established some good rhythm first at least. Go for other pairs (or just wait).

Hope this helps.

Attached Image (click to enlarge)
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  • #29,619
  • Aug 10, 2016 5:43pm Aug 10, 2016 5:43pm
Quoting elway
I saw my pic was hard to see. Maybe this is better. {image}
Elway.

I am kinda new to this, but for me...because of the recross of the 89 EMA, I would've passed on that entry. That is just me. The total recross of the 89 to touch the 21 EMA, kinda negates this trade in my mind...someone else could prob. say I am wrong about that, but I wouldn't have taken it...
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