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4 Hour Strategy (MACD)

  • #4,401
  • May 15, 2007 12:51am May 15, 2007 12:51am
Quoting ljman
Just wondering if anyone is trading during the US core CPI news? I believe the MACD and price action is hinting at bearish news for the USD.

For the AUD/USD seems like a bullish TC may be forming.
The EUR/USD is also hinting at a bullish bounce off the 21EMA.
The GBP/USD has formed a bullish RB and looks like it will pull back to the 21 EMA.
And finally the USD/JPY looks ready to fall very soon with a recent double top and bearish RT.

Anyway I am still quite new, still learning the system by heart and still reading through all the posts so I will sit on the sidelines for the news.

I am not really a fundamental trader at all (even after four years of my accounting and finance lecturers talking up fundamentals and laughing at the concept of technical trading). I just find it interesting how all the majors are lining up for bearish news for the USD. We shall see. All part of the learning process.
I am going long the GU.
AFTAB Time Will Tell & Price Will Show
  • #4,402
  • May 15, 2007 12:56am May 15, 2007 12:56am
Dear all

As i cannot use metatrader at work and am only able to see web based version charts, the 5,13,1 setting is not visible at my charts, does it make big difference to set to 5,13,2 or some other larger similar settings?

I love the system but i am just missing out on a vital candle time at work

Thanks
  • #4,403
  • May 15, 2007 4:02am May 15, 2007 4:02am
Quoting winlots
Dear all

As i cannot use metatrader at work and am only able to see web based version charts, the 5,13,1 setting is not visible at my charts, does it make big difference to set to 5,13,2 or some other larger similar settings?

I love the system but i am just missing out on a vital candle time at work

Thanks
Well IMHO ....the signal line.. thats what the 1 is for.. 1 means it will stick to the ends of the MACD bars... you dont need that actually at all, it does not bring any information, it only helps to see the shapes of the formations. So you can set it to whatever, maybe a big number so it stays out of the way and try to see the formations by eyes only form the histogram.
Actually, I think that you should listen to the Phillip Audio course, in there he speaks well about that this system is not just MACD hunting, but also looking at how the price moves in relation to the various MAs on the chart.

elmer

btw, dont know how you are trading, but there are brokers with java based platforms running in internet.. peraps that could be an option for you (oanda?, I think...) and there is a portable version of MT4, but that would need a palm or something like that I know nothing about it
  • #4,404
  • Edited 7:23am May 15, 2007 7:16am | Edited 7:23am
Hello Winlots, you can use java based charts from IT. You dont need to download a platform to use it. Just go to this link:

www.cbfx.com/charts/charts.htm and select IT finance charts

There, you can make a setup for the 5-13-01 MACD. For making your setup, you need to change the MACD, MACD minus signal and signal lines all to histogram and add a simple moving average of 1 in the MACD and apply to MACD. and then you will have it extacly as in the 4H method.

If you dont know how to put a moving average in MACD, just click on the little tool box where it say MACD 5-13-1 in the form of a little wrench and there a box open when you can add a MA for the MACD.

These charts are base on EST time (GMT -5) but as Phillip said, it doesnt make any difference for the setup.

Hope this will help you

Feel free if you have anymore questions

shreem
  • #4,405
  • May 15, 2007 7:36am May 15, 2007 7:36am
Hi , I thought EST was GMT -4. please confirm.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #4,406
  • May 15, 2007 7:55am May 15, 2007 7:55am
Hello BIL2205,it is GMT -5. At least, it is what FF confirm on their time setting.

GMT -4 would be for the Atlantic time in Canada

Hope this help

Shreem
  • #4,407
  • May 15, 2007 7:58am May 15, 2007 7:58am
Thanks Shreem and Elmer
  • #4,408
  • May 15, 2007 8:39am May 15, 2007 8:39am
Your most welcome Winlots

I hope these charts will help you for trading the 4H MACD system in your working time.

That is what I do and it work just fine.

Good trading day to all and a lot of pips.

shreem
  • #4,409
  • May 15, 2007 8:44am May 15, 2007 8:44am
Quoting BIL2205
Hey guys can anyone post the colored MACD attatchment so i can download it or tell me on whic post number i can find it . Thankyou.
Quoting BIL2205
Another quick question about the setup, On the EMA and SMA do we leave the shift level zero????? Thanks.
Quoting BIL2205
Hi , I thought EST was GMT -4. please confirm.
BIL, welcome to the forums, and we're all here to help! Just keep in mind that this thread is already 4500 posts long, and it's a lot to sort through, so a lot of what you're looking for can be found much more quickly by searching. For example, click the "search" button at the top, and type in "Colored MACD" and the right thread will come up. For something especially unrelated like EST time zone, google will get the answer for you very quickly. Try "EST GMT time zone" or something similar. Happy trading!
  • #4,410
  • May 15, 2007 8:51am May 15, 2007 8:51am
Hi Shreem

I can't dowload any software but I can use any web based service without java. I can't open any java enabled chart.

Could you help me if there any resources online for charts without java so I can take advantage during working hours.

Thanks
  • #4,411
  • May 15, 2007 9:32am May 15, 2007 9:32am
Hi Phillip and others,

Just a quasi-hypothetical question re: AUDUSD. I just took a screenshot of how it looks right now. It's a TC. For me it's still 3 1/2 hrs to go until next bar which is why I said this question was quasi-hypothetical.

Assuming the current price holds exactly by the formation of the next bar, is this a clear TC signal and would you take it, or am I supposed to look at that little downward channel and be afraid of the upper resistance?

Thanks for your help.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4_051507.jpg Size: 53 KB
  • #4,412
  • May 15, 2007 10:12am May 15, 2007 10:12am
Quoting weghio
Hi Phillip and others,

Just a quasi-hypothetical question re: AUDUSD. I just took a screenshot of how it looks right now. It's a TC. For me it's still 3 1/2 hrs to go until next bar which is why I said this question was quasi-hypothetical.

Assuming the current price holds exactly by the formation of the next bar, is this a clear TC signal and would you take it, or am I supposed to look at that little downward channel and be afraid of the upper resistance?

Thanks for your help.
Be afraid of the upper resistance. I'd wait for a break before going long there. And even then, I'd wait for the pullback to the line first.
  • #4,413
  • May 15, 2007 10:12am May 15, 2007 10:12am
Quoting ljman
Just wondering if anyone is trading during the US core CPI news? I believe the MACD and price action is hinting at bearish news for the USD.

For the AUD/USD seems like a bullish TC may be forming.
The EUR/USD is also hinting at a bullish bounce off the 21EMA.
The GBP/USD has formed a bullish RB and looks like it will pull back to the 21 EMA.
And finally the USD/JPY looks ready to fall very soon with a recent double top and bearish RT.

Anyway I am still quite new, still learning the system by heart and still reading through all the posts so I will sit on the sidelines for the news.

I am not really a fundamental trader at all (even after four years of my accounting and finance lecturers talking up fundamentals and laughing at the concept of technical trading). I just find it interesting how all the majors are lining up for bearish news for the USD. We shall see. All part of the learning process.
Hi ljman, hope your great sense and reading of the market brought good pips for you. To keep up a good spirit of this thread and in line with your feeling of usd/jpy pair I just made up some grotesque chart. Have fun (and pips!).

Yours, Tamkras
Attached Image (click to enlarge)
Click to Enlarge Name: bull_asleep.jpg Size: 37 KB
  • #4,414
  • May 15, 2007 10:13am May 15, 2007 10:13am
Quoting weghio
Hi Phillip and others,

Just a quasi-hypothetical question re: AUDUSD. I just took a screenshot of how it looks right now. It's a TC. For me it's still 3 1/2 hrs to go until next bar which is why I said this question was quasi-hypothetical.

Assuming the current price holds exactly by the formation of the next bar, is this a clear TC signal and would you take it, or am I supposed to look at that little downward channel and be afraid of the upper resistance?

Thanks for your help.
I think the little down channel is a retracement to the 21EMA, so the TC signal should be valid. However, the candele causing just now the TC signal is a news candle, so I am not sure if that is ok, also think about the stoploss you would need to use. What profit trget are you thinking about?.. I dont know that....

elmer
  • #4,415
  • May 15, 2007 10:19am May 15, 2007 10:19am
This is a great day for this strategy. The signals have been right on for both the G/u and E/U. These were both high probability trades as I saw it. Both Buys this morning. Phil I cannot thank you enough for the knowledge and guidance you have provided.

+53 PIPS today!!! Will wait for the next signals which could come this afternoon or evening for the E/U and G/U. Hope to see both return to the 21ema later today.
  • #4,416
  • Edited 10:26am May 15, 2007 10:21am | Edited 10:26am
Here is how my chart looks on the IBFX mini platform. My entry was 5792 and i was stopped 9755 because when the price was almost to the 21EMA ibfx had server problems. Price went to 9824 on SAXO BANK platform and 9827 on MBTF platform. On ibfx you can see maximal high before the fall 9813. I feel strong disgust towards that broker at that moment!!!!!!!!!!!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD GU 140507 .jpg Size: 84 KB
  • #4,417
  • Edited 11:15am May 15, 2007 10:51am | Edited 11:15am
Hello Young 99, unfortunately, I do not know about any other web charts without Java. Sorry, to not be able to help you further.

Most of the web charts are Java based.

BTY, why cannot you download Java application and run it?

Did everybody saw the great rise in price against the dollar at about 10:32am EST?

Wat it link with the earlier discourse of Bernanke?

shreem
  • #4,418
  • May 15, 2007 11:20am May 15, 2007 11:20am
Quoting ttitto
Here is how my chart looks on the IBFX mini platform. My entry was 5792 and i was stopped 9755 because when the price was almost to the 21EMA ibfx had server problems. Price went to 9824 on SAXO BANK platform and 9827 on MBTF platform. On ibfx you can see maximal high before the fall 9813. I feel strong disgust towards that broker at that moment!!!!!!!!!!!!!!

Does this happen often with your live account? I'm looking to start a mini account to trade Phil's system but I have heard alot of horror story's about unscrupulous brokers and server failures. I know that trading live is very different from demo. I don't want to get off topic but I have been glued to this thread for 5 months now and IMO it is the best thread and the best system on FF. I have grown to trust the advice and opinions of most everyone here. Any advice with regards to trading Phill's system live would be most appreciated.

Thanks
  • #4,419
  • May 15, 2007 11:22am May 15, 2007 11:22am
UCHF is curently on the trendline that was broken 08.05.2007 12:00 (GMT). thistrendline starts on the 12.02.2007. The support line that has been just broken is at 2155. Let's see what will happen.
Attached Image (click to enlarge)
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  • #4,420
  • May 15, 2007 11:25am May 15, 2007 11:25am
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