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6-24-2010 Trade Cont'd
Greetings everyone,
So, finally the market moved in the direction I initially anticipated, but of course after taking my stop-loss first...LOL
Oh well, you win some and you loose some...
Have a great weekend everybody.
Cheers,
Hello Everyone,
Ahhh...A new day in a new week and another opportunity to battle it out with the market.
I hope everyone had a relaxing weekend.
Cheers,
6-6-2010 Trade
Hello Everyone,
Just closed a trade
Currency pair: EURUSD
Entry time-frame: 4H ZL MACD Divergence,
Trade type: Counter Trend on D1
Trade Setup: Slow retracement
Entry 1 price: 1.26223
Profit Target 1 price: 1.2525 (Just above the previous low)
Stoploss: 1.26612 (previous high) then moved to 1.26370 as position moved to the positive
Risk profile: 1.06% of account at risk, 1:2.5 R:R ratio initially, then 1:6.62
Closed price: 1.26137
Profit: $860
Missed exit point at close of bar above Triggerlines on the 1Hr chart (close at 1.25931 or 20.6 pips from current close). So got out at the time I attended to the trade.
Zl macd
Greetings, Pip.
I'm studying your method, and am am curious about the zero-lag MACD you provide. Could you explain the meaning of the different color histogram bars?
Thanks,
Dennis
Certainly!
Greetings, Pip.
I'm studying your method, and am am curious about the zero-lag MACD you provide. Could you explain the meaning of the different color histogram bars?
Thanks,
DennisHello Dennis,
The Zerolag MACD indicator behaves in the same fashion as a standard MACD except it is a bit more sensitive to the market move due to the way it is calculated.
Similar to the standard MACD, the Zerolag MACD has a fast signal line (Aqua) and a slow signal line (Magenta). And just as the fast signal line can be represented as a histogram instead of a line, the Zerolag MACD represents the fast signal line as a histogram plus also a line. The only real difference visually in Zerolag MACD is the representation of the difference between the fast and the slow signal lines by drawing a green histogram.
You would use Zerolag MACD in the same fashion as you would do a regular MACD - crosses, divergence, etc - but, you would need to be more cognitive of the fact that it is much more responsive and thus is susceptible to whipsaw action and the moves are shorter in duration.
I hope this helps.
Cheers,
Zl macd
Hello Dennis,
The Zerolag MACD indicator behaves in the same fashion as a standard MACD except it is a bit more sensitive to the market move due to the way it is calculated.
Similar to the standard MACD, the Zerolag MACD has a fast signal line (Aqua) and a slow signal line (Magenta). And just as the fast signal line can be represented as a histogram instead of a line, the Zerolag MACD represents the fast signal line as a histogram plus also a line. The only real difference visually in Zerolag MACD is the representation of the difference between the fast and the slow signal lines by drawing a green histogram.
You would use Zerolag MACD in the same fashion as you would do a regular MACD - crosses, divergence, etc - but, you would need to be more cognitive of the fact that it is much more responsive and thus is susceptible to whipsaw action and the moves are shorter in duration.
I hope this helps.
Cheers,Thank you, Mr. Pip. That explains it!
D.
Cycle GJH4
Pip,
If I may impose upon your generosity with another question....
Could you elaborate on the proper use of the Cycle GJH4 indicator? I read that it was (as the name implies) optimized for the GBPJPY pair and the 4-hour timeframe.
1. How applicable is it to other pairs and timeframes?
2. I notice that on the EU H4, the Cycle indi often moves in the opposite direction to the trend--and I'm looking at fairly long, unambiguous trends. How to understand this behavior?
Thanks!
Dennis
Thank you, Mr. Pip. That explains it! D.
Thank you for adding the title, but "Pip" would suffice
This will help avoid any confusions between The "Mr. Pip" and myself.
Cheers,
Thank you for adding the title, but "Pip" would suffice
This will help avoid any confusions between The "Mr. Pip" and myself.
Cheers,No problem. I will henceforth refer to you as Your Pipness.
Only kidding....Pip it is!
Thanks again.
No problem. I will henceforth refer to you as Your Pipness.
Only kidding....Pip it is!
Thanks again.Thanks
Let me know if i may be of further assistance.