AUDcad This is a good potential for entry (LONG) if macd forming the head and shoulders pattern. Otherwise, price will continue to go as low as 200sma.(it is Monday...waiting mode "ON") {image}
Mindful the support @ 200sma & 365ema
4 Hour Strategy (MACD)
- #29,681
- Aug 17, 2016 12:33am Aug 17, 2016 12:33am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
Mindful the support @ 200sma & 365ema
- #29,683
- Aug 17, 2016 2:05am Aug 17, 2016 2:05am
{quote} AUDcad update Mindful the support @ 200sma & 365ema {image}
I'm looking for this trade - waiting for the break above the 21ema and a pullback for a move to around the .9950/1.0000 round levels
- #29,686
- Aug 17, 2016 3:07am Aug 17, 2016 3:07am
{quote} Ok, so talk me through how you got the 40ish pips here. in the first pop. I entered there, I saw it, and entered. I set my profits for the nearest round number. I promptly got stopped out. I thought about setting my profit for the resistant line, that would have been 40ish pips, but looked back and saw it had been to the round number lately. {image}
If you go down to the 1h chart you will see two opportunities to enter on pullbacks to the 21ema. These are the entries you are looking for, keeping it simple is the key.
As you can see the first one happened during the night time here so it wasn't a trade I would take. Second came during trading hours and was the move that took it all the way to the target.
You can see as well the reaction to the 112.50 level and why I set my limit there.
So entry rules as per guidelines of the 4h MACD rules is pullback to 21ema, move away in 1h time frame.
The trick is to find the trade say on the 4h or 1h chart, and once the trade is in progress you can use the 15m or 5m market rhythm to add entries. (Same market rhythm rules apply in all time frames). But adding entries in the 15/5min time frames is not advisable until you can consistently get the the 1h/4h trades correct as you don't want to add to losing or bad trades.
Hope this helps
- #29,687
- Aug 17, 2016 5:30am Aug 17, 2016 5:30am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
CHFjpy
H4 price action vs macd
H4 price action vs macd
- #29,688
- Aug 17, 2016 5:47am Aug 17, 2016 5:47am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
AUDnzd
Something big are about to happened here (long term).
Something big are about to happened here (long term).
- #29,690
- Aug 17, 2016 10:45pm Aug 17, 2016 10:45pm
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
USDcad
- #29,691
- Aug 17, 2016 10:49pm Aug 17, 2016 10:49pm
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
{quote} This move possibly looks done to me now. I'm looking for this trade - waiting for the break above the 21ema and a pullback for a move to around the .9950/1.0000 round levels
- #29,692
- Aug 18, 2016 1:21am Aug 18, 2016 1:21am
{quote} This will give you some clues
Great chart to show why we follow the rules! Price never got above the 21ema so no trade to the long side.
This is a good lesson to new traders, trying to pick bottoms and tops is a losing game. I think it really is done with the down move this time though!
Still waiting for the break above the 21ema though. Lets see if we get it this time
- #29,696
- Aug 18, 2016 3:59am Aug 18, 2016 3:59am
EURGBP Udate
Break 21ema in 1h pullback, move to round level/200sma
Total = + 59 pips
Today looks like payday on the back of the GBP news this morning
The only down side is it doesn't give a chance to add extra positions, but hey that's trading. You can only take what the market gives.
Break 21ema in 1h pullback, move to round level/200sma
Total = + 59 pips
Today looks like payday on the back of the GBP news this morning
The only down side is it doesn't give a chance to add extra positions, but hey that's trading. You can only take what the market gives.
- View Post
- Hidden for breach of Trader Code of Conduct
- #29,698
- Aug 18, 2016 10:25am Aug 18, 2016 10:25am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
EURaud
Maybe all of us should pay attention to this pair. Potential head & shoulders here. Not easy to get such signal in higher tf (H4 n above).
(s1 = 1st shoulder, H = head)
Maybe all of us should pay attention to this pair. Potential head & shoulders here. Not easy to get such signal in higher tf (H4 n above).
(s1 = 1st shoulder, H = head)
- #29,699
- Aug 18, 2016 10:49am Aug 18, 2016 10:49am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
AUDcad & AUDchf update
Almost the same storyline here. Potential double bottom price pattern (support from 365ema) and macd higher low formation.
Almost the same storyline here. Potential double bottom price pattern (support from 365ema) and macd higher low formation.
