Another MacDaddy forming to the upside?
50pips already using slow Stochastic signal line
hopefully it will hit 1.4300~1.4350…
Hi jenesaisquoi, thanks for sharing your system. I really love its simplicity :-bd
no, its not macdaddy- its on stoch only. it has dipped since. i am detecting bearish hidden divergence from that rally on macd, and it was a quick 40 pip down
so basically it was a ‘dead cat bounce’ on macd
It’s not exactly how the MACDaddy system works since MACDaddy bases divergences on MACD (and not Stoch), but there is potential support at around 1.4200. Good luck!
I would say that a divergence signal is stronger when it is seen on more than one indicator. Stoch is ok, but I prefer MACD. Stronger if both show the same thing.
Thanks for sharing I shall try it out.
Ani
has really broken to the upside but it might be another faded bounce
I would call it a good entry. I would personally wait for a cross of the last support line, but price seems to be following an upside down downwards pattern or channel.
I think it’s a beauty! Goes well with technicals too, there’s a falling trend line on EURUSD if you connect those tops. Good luck!
good entry. you’re in the green again. 60 pips up. nice system
100 pips up now. i went out already! good luck to you!
wow…@1.4150 almost hit!!! I’m glad I took off half position at TP1. 170pips TP2 hit today, thanks to MacDaddy…what a simple but effective system…5wins in a row!!!
wow, the good thing about Macdaddy is that it forces you to take less trades as in maybe one or two setups a week, thereby limiting the problem that arises from giving back precious pips. I’ve found 2hr MacDaddy setups to be money in the bank for sure. What a week, +300pips and still tanking!!!
another banker. 260 pips on it.
it gives about 1 or 2 trade signal a week on EUR
maybe if u used on other pairs you might get more trades.
Here is another interesting setup on CHFJPY 30 min chart. Spread is high though on that pair.
Here’s another one on GBPJPY daily chart. Not exactly a MACDaddy because Stoch did not cross the 20 level but it’s crossing its 50 level. With a harmonic pattern helping out, I would wait for the price to close across the resistance line.
am posting this last one GBPUSD daily chart. A real MACDaddy setup with hidden divergence. Stoch just crossed its 80 level down and it is still time to enter. I would wait for a bearish candle.
U didn’t draw trend line vertically correct on MACD as u did it on price action, though there’s hidden DV on MACD but ur drawing isn’t accurate
Are you looking to short gbpusd?
Nice call guys, hopefully we’ll see another two setups next week