4 Hour Strategy (MACD)

Phillip,

Wow!

Thanks for breaking everything down into bite sized pieces for us to study and digest! I love the way you take a concept and make it simple! Thank you for taking so much time to keep reminding us what to keep in mind while we analyze, plan and execute our markets! I'm still getting A-HA moments from your lessons.....and really appreciate the reminders to pay attention to the subtle (and not so subtle) details.


THANK YOU!! THANK YOU!! THANK YOU!!!!

Happy Pipping,

Pips

Hello Dear Phillip, as Pips4uandme said, I cannot thank you enough again and again for your time and efforts in helping us to understand how the market works and all it's subtle details. You are truly a great teacher and it is a true joy to listening to your comments.

I very agree with Pips4uandme that by dissecting (as a doctor) every part of your system and rules through your MP3 and PDF files, you are really accomplising a wonderful job in helping us having a very clear idea to comprehend your system.

If with all you give to us so selflessly, we cannot make pips, we can only blame ourselves as you have put so much efforts to help us succeed.

Dear Phillip, thank you very very much from the buttom of my heart for your generous time.

P.S. Also a special thank to Pips4uandme and Tamkas whose posts does also help me a lot.

Also a big thank to all contributing members of this forum which make us all a great family.

As a saying says: In life, you have no friend and no ennemies but only masters. Moral of the story, we can learn from everybody around us.

Wishing a very great trading week to all and a lot of

Shreem

To every member of this wonderful forum......

Thank you for your contributions to this thread! Every single member has contributed to my trading style by making me think about my actions. I can not thank you all enough for your time and thoughts about the market.....every single post makes me look at the market with fresh eyes....they make me consider aspects I may be overlooking....they make me trade 100% better!!! I consider this thread a community of co-workers who are all striving to achieve better results (no matter what level of trader he/she may be, we can always learn more and execute better). I truly appreciate all that everyone does and would like to acknowledge the important contributions every single member makes to another member.....Thanks All!!

May we all see many pips this week placed into our accounts.....& (This is my new favorite phrase) Please, Don't let Mr. Donkey eat your pips!....Thanks Mike!!!

Happy Trading,

Pips

Attachment As I was waiting EURUSD and Cable reach my Long limit prices, but I bought only Cable at 1.9727, I couldn't buy better price because I wasn't at home.
Now my TP is 1.9788, I will wait until Tuesday to see if I close the order sooner. We are for Short-Term Bearish, so there is the possibility that the price not even reach 21. It touched already at 21, but I forgot to enter my TP at the order, I only saw that today.
As you can see the Chart the Short Line it is more safe to trade Cable right now, if the Price reach near that line, there is a High probability to do good trades. The Long Line it is risky one, if you go long, let the price come down at least 20 pips below that line. BEWARE the price could drop to a level that you will loose the trade.

Bye
MIKE

P.S. - Phillip THANKS AGAIN, I am learning too much with you about all your Market view and your explanations!!

[quote=pips4uandme;1446204]Think the answer to this question is confusing because we all have different time zones and candle open/close times. My candle time is in PST, then I convert to EST (EDT?) and then to GMT....and sometimes make mistakes counting on my fingers and toes .

Hi Pips... hope you don't make any mistakes in counting all the pips you gain!

Thanks for the response... to try and show what I mean, i have attached a chart, and I have put an arrow under each 16:00 candle. I am not sure if it is at gmt or bst, I will look tomorrow (well today) at 16:00 to see if the candle has started yet. I recall Phillip saying he only trades the 16:00, 20:00 and 00:00 candles, so was wondering if this was why,

Wow Pips,Shreem what a message!. i feel so blessed to be part of this forum. Thank you all especialy Phillip, our Pip Professor who make it all happen.May Many pips happn to all this week!

Can anyone tell me what the MACD levels are?
Are they .0015,30 and 45 for all pairs?
Thanks

Hi MadMax....

LOL!!! (re: counting my pips.....)....I grew extra toes for that math problem...yikes...that's kinda yucky!! Pips good...extra toes....hmmmmm.... ....(yikes...did I stick my foot in my mouth again?....)



the arrows look like 08:00 candles on your platform.....and are certainly not London Fix/Swap Candles (holie molie...that would be some serious settlement action ).....Looks like Palmer wins the 64K question!...News and real market action is going on during those times....Looks like your candles are opening at 4 or 5 NY time depending if you are GMT or GMT +1......

& because I'm being vocal today....I think Phillip use to trade the candle hours because those were the ones he could trade due to his time zone/and free time availability.

I'll be quiet for the rest of the week....promise...

Bye,
Pips

That's what I use....even though Yen pairs were discussed earlier in the thread w/diff. settings....don't recall if they were changed or not because of their heavy momentum (the regular settings work fine...you just need to become familiar w/movements of the pairs w/in the ranges and contract your indicator to accomodate levels....)

Hope this helped....

Have a great trading week.....

Pips

Waiting for candles at loonie RB to take long.
It is near of 4H support, what do you think?

I am using Stoch(13,5,5) and Bollinger Band as additional tools to decide on entry and exit. From 1 Hr chart, I think cable will go down upto support and then bouncs off (see 4Hr & Daily)

Strong Support - 1.9686(89MA Daily) & 1.9657(50%Fib). Stochs Overbought. I have a BUY order @ 1.9695 and 1.9665, SL 1.9635. TP 9760.

I also have a SELL order @9763 (365MA & 21MA - 4Hr) SL 9790, TP 1.9695.

Going to Bed now. Will see how this pans out. Nothing on the Calender on Monday or Tuesday to take the price up.

Phillip, what a wonderful system!! Earlier I was only looking at MACD, but now I am learning to look at short term S & R and trying to go with the trend. Thank you soooooooo much. Thanks also to the excellent analysis by Pips and others. Truely a gr8 Forum.

[quote=pips4uandme;1446266]Hi MadMax....

LOL!!! (re: counting my pips.....)....I grew extra toes for that math problem...yikes...that's kinda yucky!! Pips good...extra toes....hmmmmm.... ....(yikes...did I stick my foot in my mouth again?....)

Hi Pips
I haven't had the need to grow the extra toes yet... as not making enough pips yet, but I will get there! lol

Thanks I appreciate your feedback... due to work etc, it is most likely going to be the candle i trade the most (if all the rules line up!). So it looks like I will know quickly if I was wrong!

[quote=madmax_uk;1446418][quote=pips4uandme;1446266]Hi MadMax....

LOL!!! (re: counting my pips.....)....I grew extra toes for that math problem...yikes...that's kinda yucky!! Pips good...extra toes....hmmmmm.... ....(yikes...did I stick my foot in my mouth again?....)

Hi Pips
I haven't had the need to grow the extra toes yet... as not making enough pips yet, but I will get there! lol

Hey Gang

Before we go any further proving Darwin right (the better traders will have 12 toes as a domnant trait), just a quick suggestion. The good folks at Forex Factory have a the calendar options (home page/calendar/calendar options/time and date options) which show your local time and the difference btw it and GMT (EST = GMT -5, for example). I also have a clock on my desk set to GMT as a handy reference.

Nice way to start the week off. I took the tc signal last night off the 21 and made a good chunk off of this one. This was a textbook set-up, well at least I'm pretty sure it is. We're below the 89, price came back to the 21 and then went south again. The support line that I have has about another hour and 15min to see if price will come back to it. Either way, there in the bank....

Thanks Phillip!

Hi PAlmer ,
Congratulations on your successful trade. i did the same trade but i had my take profit set at the resistance line. According to MACD signal there was still room to gain more pips. but i decided to take my profit there, I know partial profit was also an option . but thats how we learn ,.step by step. Let me ask u and anyone reading this, was that an evening star formed between the yellow(200SMA) and light blue(8MA) line on my chart. right before the big drop. today. because for me that confirmed with all the other signals that the downtrend continues.
Another question is that according to the rules should the price retrace to the 21EMA now, but that would be doing a counter trend trade right???
Thanks for all your help Phillip and all the wonderful members in this forum!!!

I'm not sure about the evening star formation, I need to look into that a little more. Yes, that would be a counter trend trade if there was a rb to form later; your target would be the 8 and then the 21. Take a look back and see how many times price was rejected between the 8 and 21 during a counter trend trade. Phillip really did his homework. Another thing to look at is the following: During a counter trend trade from a rb or rt, look what happens to the price action when the 4hr candle closes above or below the 21 from a rb or rt...price continues in that direction the majority of the time. This is where trading multiple lots comes into play. I'll close a few when the 21 is hit, and if the price closes above or below the 21, I'll tighten up the stop on the remaining open lots and trail those.

Thanks Palmer http://www.forexfactory.com/images/icons/icon7.gif.
I will look back into the charts like u suggested before i plan my next trade. Good luck with your trades.http://www.forexfactory.com/images/icons/icon14.gif

Could you tell me what price you wnet in at?

Thanks

if u are asking me . i went in short at 1.3501 closed at 1.3476. +25pips. i know it was a premature close but i am still learning and practicing.

Please dont anyone get mad, I feel this is a ligit question! I am getting a little confused.........is this a MACD or is it a MOVING AVERAGE system? I thought it was based on MACD patterns, however the further I get into the threads it seems as though it is based on the moving averages and s/r and overall trend. Not that this is a bad thing, I just trying to figure out what I need to study! Are the MACD patterns just conformation? HELP.........