4 Hour Strategy (MACD) | Page 198 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

4 hour strategy (the nausbot - 4 hour trader) 25 replies

4 Hour Strategy Macd+other Indicator 21 replies

X-1102 1 hour , 4 hour and daily Tf trades 7 replies

Create a verticle line at certain hour for every certain hour 16 replies

Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies

Attachments: 4 Hour Strategy (MACD)
Exit Attachments

4 Hour Strategy (MACD)

  • #3,941
  • May 1, 2007 2:46pm May 1, 2007 2:46pm
Reading through the recent posts I learnt that many (including myself!) got trapped into a loonie extended rise. I burnt fingers once and stayed away from the pair. Now, looking back at the price action and I can't resist laughing at how foolhardy my attempt was to grab this long, long wire.

This plug pattern is new to me but it reminds of a matching low. Have fun, fellow traders, the market is always full of riddles!

Yours, Tamkras
Attached Image
  • #3,942
  • May 1, 2007 5:09pm May 1, 2007 5:09pm
What about this nice RT???
  • #3,943
  • May 1, 2007 5:38pm May 1, 2007 5:38pm
Quoting Nacho_1975
What about this nice RT???
I saw those as well nacho... for me the problem is the sharpness with which the top was formed... often especially in an uptrend this is indicative of a consolidation with further trend continuations to follow. For example, look at the 1HR and tell me if you're as convinced to go short here...? Looks like a pennant pattern to me, a classic trend continuation pattern.

I say this as a mere newbie and one who has not quite yet gotten Phil's system, but as one who is slowly figuring it out, NOT as an expert--but it seems that as Phil said in his audio earlier, MACD simply gives us an aim, and other indications such as the 21/89 and even other indicators are what gives us the signal to pull the trigger to open our position. So, in view of this, while you might get some pips, to me it's not worth it... for example, where would you put your SL? Your TP would be the 21 I assume, but with EURCHF, it's trading at a high right now, and while the GBPCHF has a R line nearby, it hasn't been obeyed very well the last few candles, so I'm not so quick for that trade either.

Again, I'm a newbie, and all this could just be my rookie-ness speaking, but I think it makes sense! But PLEASE don't take my advice or my word for it--trade as you feel you should, for I've had MANY trades go bad :-)
  • #3,944
  • May 1, 2007 5:45pm May 1, 2007 5:45pm
EURGBP - RB forming maybe, bouncing off the 89. A decisive close a few pips higher or a nice doji or two, and I'm in long.

USDCAD - keeping my eye for a bounce off the 21 back down by another 4 or 5 bars...

USDJPY - long tails the last couple of bars near the R level at the top, and a RT in the making, maybe.
  • #3,945
  • May 1, 2007 7:38pm May 1, 2007 7:38pm
Take a look at the US/CH.
Possible RT. It may look like a counter trend because it is above the 89 MA. But the pair has been downtrnding for a loooong time, and it only went above the 89 due to that freakish long candle . After that it has been consolidating against a trendline that comes from a high in April 4. IF the RT is confirmed I plan to enter around 2125-after price has gone under the 200 MA- and my stop will be at 1.2154. Just above the TL. TP #1 will be 1.2095, above a resistance line that happens to be very close to the 89 MA. If price happens to break below the 89 MA it may come down to 1.9999.

Now...I may be wrong and this thing may jump up like a rocket!!!!

But anyway..I have a short order at 1.2125.

The market will decide my fate
  • #3,946
  • May 1, 2007 10:02pm May 1, 2007 10:02pm
Quoting alcastro
Take a look at the US/CH.
Possible RT. It may look like a counter trend because it is above the 89 MA. But the pair has been downtrnding for a loooong time, and it only went above the 89 due to that freakish long candle . After that it has been consolidating against a trendline that comes from a high in April 4. IF the RT is confirmed I plan to enter around 2125-after price has gone under the 200 MA- and my stop will be at 1.2154. Just above the TL. TP #1 will be 1.2095, above a resistance line that happens to be very close to the 89 MA. If price happens to break below the 89 MA it may come down to 1.9999.

Now...I may be wrong and this thing may jump up like a rocket!!!!

But anyway..I have a short order at 1.2125.

The market will decide my fate
Hi alcastro

Got along for this rocket ride to the tune of +60 pips. I'd been trading Philip's 5min strategy b4 the ISM data ,went long USDCHF.Once initial 8 pip target was met, I set the other half to trailing stop and after the economic news the dollar rebounded.That candle left a huge TC signal afterwards.Left a lot on the table though because I eventually bailed at the 200MA. Still got a lot to learn.
In hindsight the USDCHF showed a nice reverse Head & Shoulders as shown on my chart and broke through the neckline (red horizontal line) after ISM data.So used to trading using H&S,triangles,etc, but Philip's strategy and teaching is putting it all into perspective for me.My understanding is really growing under your tutelage,Philip! Thanks again Philip! You're the man!
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 2may2007.jpg Size: 102 KB
  • #3,947
  • May 2, 2007 12:35am May 2, 2007 12:35am
Hi,

nice round bottom in EUR/GBP. I went long.

http://www.fx-forum.de/charts-4h/eurgbp_020507.png

Regards - Xaron
  • #3,948
  • May 2, 2007 12:51am May 2, 2007 12:51am
I was musing on the fact that some currencies are at their hights now, and that makes difficult to trade. But when the trading was easy? IMHO the price is in consolidation now and will be for some time deciding where to go. In ranging market it is always hard to trade, that's where the professionalism comes into play. I am bad in predicting future (too bad for me ) and that is one more point why I like your system Phillip. You don't have to be a fortune teller to trade with your system, you taught us everything. Remember: the facts are in front of me therefore I will do this and that! So for those who complain it's time to stop and read again.
Sorry, didn't mean to offend anyone.
  • #3,949
  • May 2, 2007 12:53am May 2, 2007 12:53am
Quoting Xaron
Hi,

nice round bottom in EUR/GBP. I went long.
http://www.fx-forum.de/charts-4h/eurgbp_020507.png

Regards - Xaron
Me too, good luck to us!
  • #3,950
  • May 2, 2007 1:24am May 2, 2007 1:24am
Look at your chart Xaron, do you see the plug Tamkras showed us in her previous post? Well done Tamkras, I have been translating your witty massage for ten minutes, before I got it . There are 11 meanings of word plug in my language as a noun and 7 as a verb. And only 6th meaning of the verb made sense to me (to plug in a lamp). But now I'll remember that pattern forever.
  • #3,951
  • May 2, 2007 1:32am May 2, 2007 1:32am
Hi ira & Xaron,

Beware of the long wick.

I traded this pair twice. Both trades ended up BE becaouse of those long tails.

Good luck to you.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbptail.png Size: 14 KB
  • #3,952
  • May 2, 2007 1:42am May 2, 2007 1:42am
Thanks for warning, I took it as odds were good: with trend, engulfing candle, tail, plug, support on 89MA, but as I am new to this pair will put b/e as soon as possible. Thanks again for warning.
  • #3,953
  • May 2, 2007 2:05am May 2, 2007 2:05am
Thanks ira, thanks kappa!

I think there is a short opportunity in the USD/CAD...

http://www.fx-forum.de/charts-4h/usdcad_020507.png

Regards - Xaron
  • #3,954
  • May 2, 2007 2:21am May 2, 2007 2:21am
Hi Xaron,

Be careful at 13:15 GMT there is an important news that could affect $

Good Luck,

Matteo
  • #3,955
  • May 2, 2007 3:47am May 2, 2007 3:47am
Quoting alcastro
Take a look at the US/CH.
Possible RT. It may look like a counter trend because it is above the 89 MA. But the pair has been downtrnding for a loooong time, and it only went above the 89 due to that freakish long candle . After that it has been consolidating against a trendline that comes from a high in April 4. IF the RT is confirmed I plan to enter around 2125-after price has gone under the 200 MA- and my stop will be at 1.2154. Just above the TL. TP #1 will be 1.2095, above a resistance line that happens to be very close to the 89 MA. If price happens to break below the 89 MA it may come down to 1.9999.

Now...I may be wrong and this thing may jump up like a rocket!!!!

But anyway..I have a short order at 1.2125.

The market will decide my fate



Well, the us/CH continued going up. The RT never formed, so I didn't take the short. That is the good thing about this system. Only jump in if all the conditions are there. I was watching them: the MA's, the price action, and mostly...the MACD confirmation. None of them occured so nothing happened. As IRA said, you don't have to predict the future, just follow the system and collect your pips.
  • #3,956
  • May 2, 2007 3:54am May 2, 2007 3:54am
Quoting Xaron
Thanks ira, thanks kappa!

I think there is a short opportunity in the USD/CAD...



Regards - Xaron


Xaron,

I agree with you. A possible bounce from zero. But I will also hold until the ADP news. Price is against the 21 MA and a descending TL that has followed all this falling trend. If the news are US positive it is very easy for the price to break through this barriers an try to go for the 89 MA. But if it is US negative the zero bounce is definitely in place.
  • #3,957
  • May 2, 2007 5:59am May 2, 2007 5:59am
Looks like know is short time.. we have a very nice RT... I am in at 1.2165.. first target 8 EMA.

Comments?
Thanks

Quoting alcastro
Well, the us/CH continued going up. The RT never formed, so I didn't take the short. That is the good thing about this system. Only jump in if all the conditions are there. I was watching them: the MA's, the price action, and mostly...the MACD confirmation. None of them occured so nothing happened. As IRA said, you don't have to predict the future, just follow the system and collect your pips.
  • #3,958
  • May 2, 2007 6:04am May 2, 2007 6:04am
Quoting Nacho_1975
Looks like know is short time.. we have a very nice RT... I am in at 1.2165.. first target 8 EMA.

Comments?
Thanks
I'm gonna watch that one... With the really tall tail, the RR doesn't look good, and since it's a counter-trend move, I don't feel strongly about it. I'd rather wait for the bounce (at 8 or 21) and catch a trend continuation...
  • #3,959
  • May 2, 2007 6:23am May 2, 2007 6:23am
I took this one too with TP 21 EMA
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD UC 020507 1252.jpg Size: 98 KB
  • #3,960
  • May 2, 2007 6:44am May 2, 2007 6:44am
Quoting ttitto
I took this one too with TP 21 EMA
You guys seem to be getting the move you wanted, but I wonder if you considered that the 200 SMA is standing between current price and your TP? That's why I felt the RR was not right - I couldn't be confident that price would slice back through the 200 all the way to the 21, and the 8 was just too close...
12 traders viewing now