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4 Hour Strategy (MACD)

  • #6,061
  • Aug 8, 2007 11:57am Aug 8, 2007 11:57am
Another thing that I'm wondering about EURUSD is, if it is going to continue its move upwards, will it fill that gap on the four hour chart at 1.3759 and, then, maybe move on up?
  • #6,062
  • Aug 8, 2007 12:42pm Aug 8, 2007 12:42pm
Quoting befr
Benf - is there another way to contact you other than this thread?
I don't read PMs often, better use "Send E-Mail" option to contact me.
Ben
  • #6,063
  • Aug 8, 2007 12:51pm Aug 8, 2007 12:51pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
I wouldn't even take the trade of the pound.. It is a counter trend trade and it didn't find any major support to justify the counter trend trade, even though macd shows a long. I would have waited for the long tail candle to closed because it rebound on 365ema and open a trade when the next bar starts. if you trade at next bar, you will be safe!!
Attached Image (click to enlarge)
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  • #6,064
  • Aug 8, 2007 1:04pm Aug 8, 2007 1:04pm
Quoting mkain
you must take care of interest rate announcement market can become very volatile.
Do you mean a BOE Inflation Report at 5:30 AM EDT? Oh, I usually ignore the news, considering my stop-losses wide enough to survive the daily volatility. This time I was wrong and as AlexFot said it happens to GU often.
Ben
  • #6,065
  • Aug 8, 2007 1:45pm Aug 8, 2007 1:45pm
Quoting OldDog
Another thing that I'm wondering about EURUSD is, if it is going to continue its move upwards, will it fill that gap on the four hour chart at 1.3759 and, then, maybe move on up?
Forget about the gap. I looked on Interbank's 4 hour chart, and they show no gap. Something must have been wrong with my platform for awhile. Maybe my platform had a glitch in its charting.
  • #6,066
  • Aug 8, 2007 7:52pm Aug 8, 2007 7:52pm
Hi Phillip, my name is Bemac & I've been asked if I could code your Coloured MACD for VTT Platform.

I normally do not cruise the Systems Forum, but, when I got this request, I looked at yours.

I understand that there is probably a description of your MACD Settings and a description of what causes it to change colour somewhere in this thread but, I really don't want to read > 6,000 posts to find it.
If you can help me, I may be able to help some/one of your students.

TIA for any direction.
  • #6,067
  • Aug 8, 2007 8:55pm Aug 8, 2007 8:55pm
Quoting OldDog
Hello Zunk,
Your entries are okay, and it was right that you didn't take the two signals that you put x's on but not because of a bad double top but because it was against a strong trend upwards. Price hadn't gone below the 8 ema yet and still had potential for a strong move up. What you are dealing with there is MACD divergence, where the price is still moving up while the MACD is moving down, or vice versa. You shouldn't take such divergence as a signal but only as a warning that there is potential for a change in price movement sometime in the future. The potential long trades under the 15 MACD line would have been okay to take while price was staying above the 21 ema, but you would have been cautious because of the divergence. You might have drawn a channel along the lows and the highs during that period and have only traded when the MACD gave signals near the channel highs and lows. In that case, you might have taken long and short trades, but you would have kept your stops small, as well as your profit targets. It is important to realize that you cannot separate the MACD entry from the rest of the analysis. It is that analysis which will decide whether you will enter on the trigger or not.
Phillip explains how to use the moving averages in detail, and there is nothing I could say here that would substitute for reading those lessons. Look at this attachment of Phillip's lessons 1-7, particularly lesson 4 on market rhythm part 1, with its accompanying chart, for a start, and then you should read all 13 of his lessons along with the original document. You won't find the MACD entries difficult at all. It's all the other stuff that will challenge you and still challenges me! Good luck on your studies from a fellow student.
OldDog,

Thank you very much for your tapescripts of Phillip's system lessons! It's good to listen and to read it at the same time. Are you going to script other 6 lessons? It would be great.

Of course, thanks a lot to Phillip for the system and education!
  • #6,068
  • Aug 8, 2007 10:20pm Aug 8, 2007 10:20pm
i am very new to this thread can anyone tell me if this system is profitable and are there new setups?
  • #6,069
  • Aug 8, 2007 11:26pm Aug 8, 2007 11:26pm
[quote=OldDog;1529244]
Quoting Alex III

AlexIII, go to page 401 on this thread, and look at pip's post #6013. There she gives a copy of a previous post she made on how she plans her trades. It's very useful!
Thanks OldDog, I do really use Pips trading plan. BTW great job with your EUR trade and I too had the gap on my platform.
  • #6,070
  • Aug 9, 2007 12:38am Aug 9, 2007 12:38am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting Bemac
Hi Phillip, my name is Bemac & I've been asked if I could code your Coloured MACD for VTT Platform.

I normally do not cruise the Systems Forum, but, when I got this request, I looked at yours.

I understand that there is probably a description of your MACD Settings and a description of what causes it to change colour somewhere in this thread but, I really don't want to read > 6,000 posts to find it.
If you can help me, I may be able to help some/one of your students.

TIA for any direction.
Great!! I'm a VTT platform user... Thanks..
  • #6,071
  • Aug 9, 2007 1:15am Aug 9, 2007 1:15am
Quoting Bemac
Hi Phillip, my name is Bemac & I've been asked if I could code your Coloured MACD for VTT Platform.

I normally do not cruise the Systems Forum, but, when I got this request, I looked at yours.

I understand that there is probably a description of your MACD Settings and a description of what causes it to change colour somewhere in this thread but, I really don't want to read > 6,000 posts to find it.
If you can help me, I may be able to help some/one of your students.

TIA for any direction.
Hi Bemac

attached is the indicator
Attached File(s)
File Type: mq4 MACD_Colored_v103.mq4   13 KB | 726 downloads
  • #6,072
  • Aug 9, 2007 4:00am Aug 9, 2007 4:00am
hi guys, how do you manage PT in case that you are in the position, the market stays at one spot for 5 or 6 candles, MAs move towards the price. In that case you have three options:
1/ move the PT - but then your RRR on the trade is worse
2/ exit, because the market is undecided
3/ leave the PT where it is - but then MA which should act as a barrier moves ...
this applies mostly to a trending market - longer move followed by a consolidation and a counter-trend trade.
  • #6,073
  • Aug 9, 2007 4:29am Aug 9, 2007 4:29am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting dzink
hi guys, how do you manage PT in case that you are in the position, the market stays at one spot for 5 or 6 candles, MAs move towards the price. In that case you have three options:
1/ move the PT - but then your RRR on the trade is worse
2/ exit, because the market is undecided
3/ leave the PT where it is - but then MA which should act as a barrier moves ...
this applies mostly to a trending market - longer move followed by a consolidation and a counter-trend trade.
Probably try to closed the trade at BE or cut losses. At this time, the market is indecisive, it might run or fall. I think its better to cut losses.
  • #6,074
  • Aug 9, 2007 5:57am Aug 9, 2007 5:57am
Hi all, wanted to open long in the morning (see the chart) it was with market rhythm and TC signal, but somehow I didn't like it. Price made Lower High, 1.3800 strong resistance area, and the move of the price looked almost the same as on the 6/08. But I wanted to trade, so I opened long on demo, which failed ! Now I know why . I'm slowly getting it! IT works again - cheers!
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  • #6,075
  • Aug 9, 2007 5:58am Aug 9, 2007 5:58am
Quoting alcastro
I am having a problem drawing my trendlines: I draw my weekly trendlines and S/R's lines. Then I change my timeframe to dialy and/or 4 hrs. When I do that, the lines i had drawn in the weekly dissapear!!! If I go back to the weekly time frame they are gone too
Does anybody here knows what is going on? It was not happening before. I was able to draw my weekly, daily and 4 hrs trendlines in the same chart regardless of the time frame......

Hmmmm...it seems like i have become invisible
  • #6,076
  • Aug 9, 2007 6:02am Aug 9, 2007 6:02am
Quoting shauny
Probably try to closed the trade at BE or cut losses. At this time, the market is indecisive, it might run or fall. I think its better to cut losses.
Yes, if the price is stuck I prefer to close the deal too.
If I'm not mistaken Phillip said the same.
  • #6,077
  • Aug 9, 2007 6:06am Aug 9, 2007 6:06am
Quoting alcastro
Hmmmm...it seems like i have become invisible
I think just no one can help you.
  • #6,078
  • Aug 9, 2007 6:06am Aug 9, 2007 6:06am
Quoting alcastro
Hmmmm...it seems like i have become invisible
]
Looks like we are ignoring you. What have done wrong I dont know of. Only joking. Don't have an idea why it is doing it. Hope someone comes along that can help you.
  • #6,079
  • Aug 9, 2007 6:35am Aug 9, 2007 6:35am
Quoting Rmax
OldDog,

Thank you very much for your tapescripts of Phillip's system lessons! It's good to listen and to read it at the same time. Are you going to script other 6 lessons? It would be great.

Of course, thanks a lot to Phillip for the system and education!
Hello Rmax, -- Thank you, but I didn't script those lessons. Here's what I said to Zunk in a later post, and it explains where the other written copies are:

Hello again Zunk,

You can find written copies of lessons 8-13 not too far back on the thread, page 396 at the top. These and the first seven I attached for you are written copies made by Ira, pips4uandme, Nadia, and Shreem. Hopefully I'm not forgetting anyone. Phillip posted those just the other day. He also posted the original document on page 395 at or near the bottom of the page.

Don't forget to read through the thread from the start, as you have time. It's invaluable!
  • #6,080
  • Aug 9, 2007 7:13am Aug 9, 2007 7:13am
Quoting alcastro
I am having a problem drawing my trendlines: I draw my weekly trendlines and S/R's lines. Then I change my timeframe to dialy and/or 4 hrs. When I do that, the lines i had drawn in the weekly dissapear!!! If I go back to the weekly time frame they are gone too
Does anybody here knows what is going on? It was not happening before. I was able to draw my weekly, daily and 4 hrs trendlines in the same chart regardless of the time frame......
Hi Alcastro,

Just some suggestions, because I don't have a direct answer for you. Also, I don't use Metatrader, so I'm not familiar with it. On my software, I have an option "transfer lines to lower time frames". But, that is probably not the solution in your case, since your weekly trendline also disappears after drawing it. I think the best answer would be to contact Metatrader technical support, since no one here on FF seems to have that same problem. Your charting software may have got corrupted. In this case, probably have to uninstall/re-install. It's happened to me before. Anyways, I hope you solve the problem soon.

Nipper
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