4 Hour Strategy (MACD) | Page 206 | 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)

  • #4,101
  • May 7, 2007 11:39am May 7, 2007 11:39am
Quoting BIL2205
Hello everyone , i have a question about th chart setup for the MACD as originally posted by Phill. In the parameteres window there are 2 options for fixed minimum and maximum at the bottom( not the EMA) and has numbers like 0.004224 etc, do i need to change those as well with every currency. Because when i draw the horizontal lines across the MACD at 15 ,30 and 45 i have problem with that. I know this is a very babsic question but since i am new to this any and all help will be appreciated. thankyou.
I modified the colored MACD indicator to draw dynamic lines other than 15, 30, and 45 to match whatever pair you're using most appropriately. The updated version (1.04) is here:

http://www.forexfactory.com/showpost...9&postcount=57
  • #4,102
  • May 7, 2007 1:02pm May 7, 2007 1:02pm
Pips, if it's not a secret why does E/U annoy you?
  • #4,103
  • May 7, 2007 2:44pm May 7, 2007 2:44pm
Quoting ira
Pips, if it's not a secret why does E/U annoy you?
Hi Ira:

it sounds so funny when I'm asked that question !

The "official" answer is because I find the pair to be pokey. It sits in a tight range and doesn't move fast or far enough for me. Doesn't mean I never trade it....just rarely. & I always watch it.

The honest answer is because it is the pair that caused me my heavy losses in the early days of trading. It is the pair that I lost 60% of my trading account w/in 2 trades and almost made me give up. The pair reminds me of when I was a bad trader (and I am thankful to it for the lessons learned...but I will never psychologically "like" to trade E/U)...& that is why I trade swissie instead.

Happy Trading!

Pips
  • #4,104
  • May 7, 2007 2:58pm May 7, 2007 2:58pm
Quoting pips4uandme
Hi Ira:

it sounds so funny when I'm asked that question !

The "official" answer is because I find the pair to be pokey. It sits in a tight range and doesn't move fast or far enough for me. Doesn't mean I never trade it....just rarely. & I always watch it.

The honest answer is because it is the pair that caused me my heavy losses in the early days of trading. It is the pair that I lost 60% of my trading account w/in 2 trades and almost made me give up. The pair reminds me of when I was a bad trader (and I am thankful to it for the lessons learned...but I will never psychologically "like" to trade E/U)...& that is why I trade swissie instead.

Happy Trading!

Pips

Hope you enjoyed your week. Good pipping for the week.
  • #4,105
  • May 7, 2007 6:40pm May 7, 2007 6:40pm
Quoting Phillip Nel
I think you mean trade 4 and 5 because of those long tails.
Yes.. I stand corrected.

Quote
I have done a section about tails as to market emotion.
I've read through a lot of this thread, but it's huge, and I must have missed that part. Could you or someone possibly point me to the right post to catch up on the emotion/tail thing?

Quote
Tha rule says when price in an uptrend broke the 21EMA down it tends to retrace to the EMA and then go to the 89SMA.
Did you mean the 8EMA?

Quote
The next trade involves a tail made by a spinner which forms part of a price double top with high difference of only 1pip formed at 04/08/2006 16:00. Another example of market emotion.
OK.. I've never made a study of candle patterns per se, and it's hard to see how one could infer emotion from them... Can you recommend a good source of reliable info on the meaning of spinners, dojis, stars, etc.?

Thanks again for your help!!
  • #4,106
  • May 7, 2007 7:32pm May 7, 2007 7:32pm
Quoting pips4uandme
Hi Ira:

it sounds so funny when I'm asked that question !

The "official" answer is because I find the pair to be pokey. It sits in a tight range and doesn't move fast or far enough for me. Doesn't mean I never trade it....just rarely. & I always watch it.

The honest answer is because it is the pair that caused me my heavy losses in the early days of trading. It is the pair that I lost 60% of my trading account w/in 2 trades and almost made me give up. The pair reminds me of when I was a bad trader (and I am thankful to it for the lessons learned...but I will never psychologically "like" to trade E/U)...& that is why I trade swissie instead.

Happy Trading!

Pips


Pips,

i also have my "traumas" from the old days. For example the sound that the VT platform makes when a position is being stopped. The "pinggg!!!!!" still brings bad memories to me.
The good thing is that this method, Phill's continuous generosity, some excellently documented backstests that I have been fortunate to read , and some friends that I have made here in this thread, all have and continue to contribute to heal those demons from the past. .
  • #4,107
  • May 7, 2007 8:26pm May 7, 2007 8:26pm
Quoting alcastro
Pips,

i also have my "traumas" from the old days. For example the sound that the VT platform makes when a position is being stopped. The "pinggg!!!!!" still brings bad memories to me.
The good thing is that this method, Phill's continuous generosity, some excellently documented backstests that I have been fortunate to read , and some friends that I have made here in this thread, all have and continue to contribute to heal those demons from the past. .
Amen to that Alcastro, that ka chiiing sound of getting stopped got to be so nauseating i finally turned off the sound ,but the help of the very knowledgable and great friends on this forum has now starting to fix that so i might be able to turn it back on soon. Thanks everyone
  • #4,108
  • May 7, 2007 9:37pm May 7, 2007 9:37pm
Okay, here is what I see at this slow time of the trading day:

GB/US: Possible TC.
Meeting resistance from an IT at 1.9952 and then the 89 MA at ~1.9970. I am long on this one since yesterday, with a small loss (but still in the trade). If I had to go today I won't-R:R<1.
I will wait until the 89 MA is broken to the upside.

EU/US - Too risky. All MA's are at the same place. Will hold until price decides where to go.

EU/JP: Price is hitting a TL that goes back to Mar 29. If MACD paints a TC and price bounces from the TL I will go long. If it breaks the TL it might go down to the 89 MA. A nice short trade with a tight s/l (just above the TL).

US/JP: Price is hitting a confluence of two TL's: a horizontal one and an ascending line that goes back to Apr. 19.
MACD may show a zero bounce to the long side, or it may come all the way down to the 89.

AU/US: Aggressive TC, hitting resistance formed by a descending TL that goes back to Apr. 19, and also the 89 MA. If it breaks above the 89 MA it may be a nice long trade but be prepared for retracement to the 89 MA. If it is rejected by the 89 MA it maight come down to the 21.

So...as you can see, nothing yet (10:30 PM EST). Must wait until the market gets more active and the candles close.

Any thoughts?
  • #4,109
  • May 7, 2007 10:03pm May 7, 2007 10:03pm
Hi folks, current shape of eurusd looks like a TC directly off the 89MA. Got about 3 hours to go on my timeframe, but would this be a go if the current shape more or less holds? Some of the trendlines worry me, but maybe i drew them wrong...or even if i drew them right, the stoploss doesn't look too bad and i could perhaps give myself the opportunity to ride a trend breakout..

i heard phillip mention in one of his recordings that you must give yourself the opportunity to ride a big wave e.g. trend continuation breakouts. would this apply here?

weghio
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4_050707.jpg Size: 51 KB
  • #4,110
  • May 7, 2007 11:03pm May 7, 2007 11:03pm
Quoting alcastro
Okay, here is what I see at this slow time of the trading day:

GB/US: Possible TC.
Meeting resistance from an IT at 1.9952 and then the 89 MA at ~1.9970. I am long on this one since yesterday, with a small loss (but still in the trade). If I had to go today I won't-R:R<1.
I will wait until the 89 MA is broken to the upside.
So...as you can see, nothing yet (10:30 PM EST). Must wait until the market gets more active and the candles close.

Any thoughts?
I think price will go up on the GBP/USD. Although I would wait for the next candle to close and then make a decision depending on where it closes - above or below the trendline.

What are your thoughts.
AFTAB Time Will Tell & Price Will Show
  • #4,111
  • May 8, 2007 12:31am May 8, 2007 12:31am
1. The tails were explained in the Exercise MACD.pdf (first page).
2. The rule says when the price is in up trend and it breaks through the 21EMA down it tends to retrace the 21 EMA and then it may go to the 8EMA up or it can go all the way down to the 89SMA, in the end of the trend (Phillip if I am wrong please correct me as I don't want to fool anyone).
3. As for the candle patterns, it's really exciting study, and it gives you huge confidence with your trades. There was a link on the thread (

http://www.trade2win.com/traderpedia...stick_charting). But I think it doesn't work anymore .
  • #4,112
  • May 8, 2007 12:43am May 8, 2007 12:43am
Quoting pips4uandme
Hi Ira:

it sounds so funny when I'm asked that question !

The "official" answer is because I find the pair to be pokey. It sits in a tight range and doesn't move fast or far enough for me. Doesn't mean I never trade it....just rarely. & I always watch it.

The honest answer is because it is the pair that caused me my heavy losses in the early days of trading. It is the pair that I lost 60% of my trading account w/in 2 trades and almost made me give up. The pair reminds me of when I was a bad trader (and I am thankful to it for the lessons learned...but I will never psychologically "like" to trade E/U)...& that is why I trade swissie instead.

Happy Trading!

Pips
Well I have an honor to meet PROFESSIONAL traders here, thank you. Please, don't stop to post your forecasts as they teach me how to think in perspective.
  • #4,113
  • May 8, 2007 12:46am May 8, 2007 12:46am
As for the trades, people, Alcastro had given a wonderful summery and right now I don't see any development. Let's wait, patience I remind to myself.
  • #4,114
  • May 8, 2007 12:56am May 8, 2007 12:56am
Is anyone taking the TC on the GBP/USD? I am feeling uncomfortable taking it.
AFTAB Time Will Tell & Price Will Show
  • #4,115
  • May 8, 2007 1:06am May 8, 2007 1:06am
I'm staying out of gbpusd right now because the price is trapped right between 89ma and 8/21ma. not sure if that's the right choice.
  • #4,116
  • May 8, 2007 1:12am May 8, 2007 1:12am
I ve just taken UJ short at 119.85 TP1 119.57 fibo68, TP2 119.24 SMA 89 SL 120.20

Price brokesupport line and test it now as resistance.
Price broke S1 level down and test it
MACD zero reject pattern
RRR=1.27
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD UJ 080507 0549.jpg Size: 84 KB
  • #4,117
  • May 8, 2007 1:27am May 8, 2007 1:27am
Quoting weghio
Hi folks, current shape of eurusd looks like a TC directly off the 89MA. Got about 3 hours to go on my timeframe, but would this be a go if the current shape more or less holds? Some of the trendlines worry me, but maybe i drew them wrong...or even if i drew them right, the stoploss doesn't look too bad and i could perhaps give myself the opportunity to ride a trend breakout..

i heard phillip mention in one of his recordings that you must give yourself the opportunity to ride a big wave e.g. trend continuation breakouts. would this apply here?

weghio
Well, I went ahead and did go long on eur/usd @ 1.3615 for a small amount. the ema's are rather flat but it looked like a good tc. SL is around 25 pips.
  • #4,118
  • May 8, 2007 3:05am May 8, 2007 3:05am
Quoting aftab
Is anyone taking the TC on the GBP/USD? I am feeling uncomfortable taking it.
TC is giving a signal on the Trendline Resistance... Its not a good idea to get long on this area unless there is a sure breakout... Buying at support or Selling at resistance is one key in whether taking a TC or not... Better wait...
  • #4,119
  • May 8, 2007 3:12am May 8, 2007 3:12am
Quoting jland
TC is giving a signal on the Trendline Resistance... Its not a good idea to get long on this area unless there is a sure breakout... Buying at support or Selling at resistance is one key in whether taking a TC or not... Better wait...
Thanks JLand. Saw it turn around at the Trendline.
AFTAB Time Will Tell & Price Will Show
  • #4,120
  • May 8, 2007 3:22am May 8, 2007 3:22am
Quoting weghio
Well, I went ahead and did go long on eur/usd @ 1.3615 for a small amount. the ema's are rather flat but it looked like a good tc. SL is around 25 pips.
I am not an expert, and you don't have to take my opinion, as I had a lot of losses in the past and that made me very cautious, so...
I remember somewhere it was said: if MA's are mixed (interlaced) it means market indicision. I usually stay out of the market in this case. As for breakout, IMHO I don't think it's the case. You should take the trade as usuall, but when it approaches some strong support/resistant area you close some of your positions at that point and the rest put to breakeven in the case it goes through the support/resistance area further. In this case if breakout accurs you will be with the wave.
At this moment I don't see anything worth trading (I trade only main pairs), but I might be wrong, I am learning as all of us.
7 traders viewing now, 1 is registered:
sumitgpl