The MACD Contrarian. A medium term position trading system for the EURUSD

Tony,

I am long EURUSD @ 1.4558

TimeFreedom

Yes, me too!

Trade now safe with stop at be, always a nice feeling. A way to go before we get to our target but so far so good


This is one of the frustrations of the system. We are 6 days into this trade and becalmed. The overhead resistance looks threatening and can lead to a cash in early mentality (which of course will ruin the performance of the system). If you are in sit tight as you cant lose. Cashing in early will mean you will lose overall


Resistance broken and closing in fast, so might reach target tonight


Tony,

Closed out another 250 pips. Looks like MACD Histogram/OsMA will cross zero line by the end of the day. Are we looking for shorts once MACD Histogram/OsMA has closed above zero?

TimeFreedom

Yes because the candle cross is immediately after our exit we are now set up for a short.



Tony,

Thanks for the quick response. I have a pending Sell Stop @ 1.4804 SL: 1.4864 (60 pips) TP: 1.4554 (250 pips). If the current H4 candle does not trigger the pending order then I delete the current pending order and open a new Sell Stop at the current candle low - spread (2 pips).

TimeFreedom

yes and continuing to move up as we wait for the break

Short entry taken


cant win them all


Tony,

Yup, got stopped out. No problem since we have won two big ones in a row.

TimeFreedom

And of course it is now running away without us, at least with this system!

I am in Long @ 1.4854. OsMA barely closed below the zero level on my chart.

TimeFreedom


Close but no cigar for me


Which broker do you use. Obviously I am with IBFX, but I also looked on FXDD chart and OsMA was also below zero level.

TimeFreedom

My MT4 has an Interbank FX feed but they have several. May just be a candle timing issue. I happen to think long is the best place to be so maybe I will get an entry later today

Just looked at your graph again timefreedom, the OsMA is 9,64,112 (you have 54)

Thanks for pointing out the error. Looks like I got in earlier than I should have based on the correct OsMA settings.

TimeFreedom

No probs, set up now in place