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4 Hour Strategy (MACD)

  • #6,101
  • Aug 11, 2007 7:53pm Aug 11, 2007 7:53pm
Hi, Palmer! Welcome back, hopefully you brought new ideas from the sea, and share them with us.
  • #6,102
  • Aug 12, 2007 3:44am Aug 12, 2007 3:44am
Quoting Phillip Nel
Info
Phillip
I hope time in my MT is same as your -central europe
please you said in your wrap up (cable) 8th at 8 oclock ...there is nice tail down, signal was RB but first green-up bar in MACD was 0,00 oclock previous and I took position on the close this candle about 2,0214 ,of course stopped out on SL the next tail, but in this case was best take position on close 8 oclock bar 2,0240 BUT it is 3th green-up bar in MACD
PLEASE have you some tool anticipate this situation or is it just experiences ???? ...

You said „.....When it's stuck between two moving averages, you look for the move away from the moving average, and then you can switch to the one hour and trade the one hour (like the British Pound off that 89 on the 9th). I would look at the one hour, but you, maybe you could have gotten in a little bit earlier there. So when price is stuck between two support and resistance lines, you can use the one hour on it, if it proves to be in motion between those two support and resistance areas....“
Please you mean in this case ( cable) take lower high signal MACD in 1 hour chart at close 8 oclock bar or wait for move through zero line at close 11 oclock bar ??? ????

Please if you get time and you are not busy some time ( is there such situation sometime ?? ) I appreciate your answer and thank for your patience
  • #6,103
  • Aug 12, 2007 6:54am Aug 12, 2007 6:54am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting kuky969
Phillip
I hope time in my MT is same as your -central europe
please you said in your wrap up (cable) 8th at 8 oclock ...there is nice tail down, signal was RB but first green-up bar in MACD was 0,00 oclock previous and I took position on the close this candle about 2,0214 ,of course stopped out on SL the next tail, but in this case was best take position on close 8 oclock bar 2,0240 BUT it is 3th green-up bar in MACD
PLEASE have you some tool anticipate this situation or is it just experiences ???? ...
The first macd signal is not matured yet because its a countertrend trade and has not hit the support level of 365ema, that's why its not advisable to go in at that point. However, the long tail down hit the 365ema and bounced with macd signal positive. The deal is on. Hope it can help you.
  • #6,104
  • Aug 12, 2007 9:01am Aug 12, 2007 9:01am
Welcome Autaret! -- It sounds like you are being a very wise beginning trader and taking your learning very seriously. When I started out, I thought I was taking the books I read seriously, but I had no systematic approach, no real method for gauging what I was doing right or wrong. I think Phillip's site gives you the necessary analysis tools to look at both the market and at yourself. You're making a much better start than I did. The best of luck!

Welcome back Palmer!
  • #6,105
  • Edited 10:57am Aug 12, 2007 10:47am | Edited 10:57am
[quote=kuky969;1533954]Phillip
I hope time in my MT is same as your -central europe
please you said in your wrap up (cable) 8th at 8 oclock ...there is nice tail down, signal was RB but first green-up bar in MACD was 0,00 oclock previous and I took position on the close this candle about 2,0214 ,of course stopped out on SL the next tail, but in this case was best take position on close 8 oclock bar 2,0240 BUT it is 3th green-up bar in MACD
PLEASE have you some tool anticipate this situation or is it just experiences ???? ...

Hello again Kuky, -- Maybe your post will give me a chance to imprint this method better in my own head. Here goes:

On the 7th of August, 20:00 GMT, GBPUSD, the MACD gives a higher low on a round bottom, but it is below the 89, and is considered to be in "bearish" mode. Also, the 200 sma is not too far above, about 40 pips, and may act as resistance. The 365 ema is about a hundred points below and may act as a target for people who are looking for a trend continuation downwards. These are some reasons for not taking the round bottom trade on the next four hour candle, the 0:00 GMT one. However, by the close of the 04:00 candle, GBPUSD has made the long tail and has been rejected by the support of the 365. When this happens, you switch to the one hour chart and look for a good entry point to the upside because, as Phillip said, the damage to the downside has already been done for now. On the one hour chart, the 08:00 candle closes above the zero line on the MACD and also closes above the 21 ema. You, then, look for a long entry somewhere off the 21 (at 2.0229 on the one hour) and look for profit targets below the 89 sma (2.0407 on the four hour). Since it is a counter trend trade, still below the 89, you manage your stop and profit targets carefully, taking your first profit and moving your stop up to break even or into the profit zone as soon as reasonably possible. According to the rules, there is a good chance of the price action testing the 89, and that is what it does at 0:4:00 on the 9th for a possible one hundred plus pips. Now, we'll see if anything I said is right or not. Shauny was telling you the truth. I just like to talk more once I get started.
  • #6,106
  • Aug 12, 2007 12:41pm Aug 12, 2007 12:41pm
[quote=OldDog;1534071]
Quoting kuky969
Phillip
I hope time in my MT is same as your -central europe
please you said in your wrap up (cable) 8th at 8 oclock ...there is nice tail down, signal was RB but first green-up bar in MACD was 0,00 oclock previous and I took position on the close this candle about 2,0214 ,of course stopped out on SL the next tail, but in this case was best take position on close 8 oclock bar 2,0240 BUT it is 3th green-up bar in MACD
PLEASE have you some tool anticipate this situation or is it just experiences ???? ...

Hello again Kuky, -- Maybe your post will give me a chance to imprint this method better in my own head. Here goes:

On the 7th of August, 20:00 GMT, GBPUSD, the MACD gives a higher low on a round bottom, but it is below the 89, and is considered to be in "bearish" mode. Also, the 200 sma is not too far above, about 40 pips, and may act as resistance. The 365 ema is about a hundred points below and may act as a target for people who are looking for a trend continuation downwards. These are some reasons for not taking the round bottom trade on the next four hour candle, the 0:00 GMT one. However, by the close of the 04:00 candle, GBPUSD has made the long tail and has been rejected by the support of the 365. When this happens, you switch to the one hour chart and look for a good entry point to the upside because, as Phillip said, the damage to the downside has already been done for now. On the one hour chart, the 08:00 candle closes above the zero line on the MACD and also closes above the 21 ema. You, then, look for a long entry somewhere off the 21 (at 2.0229 on the one hour) and look for profit targets below the 89 sma (2.0407 on the four hour). Since it is a counter trend trade, still below the 89, you manage your stop and profit targets carefully, taking your first profit and moving your stop up to break even or into the profit zone as soon as reasonably possible. According to the rules, there is a good chance of the price action testing the 89, and that is what it does at 0:4:00 on the 9th for a possible one hundred plus pips. Now, we'll see if anything I said is right or not. Shauny was telling you the truth. I just like to talk more once I get started.
OLDDOG,SHAUNY
nice... thanks for answer ...maybe Phill will express too ...I think your answers make sense, but Oldog ..please ..maybe I wrong (I red thread just number 3000 post for now) I now that from 1H chart we take only Trend continution pattern for confirming RT RB TC patterns from 4hours chart....OK thank a lot I must continue to read thread Peter
  • #6,107
  • Aug 12, 2007 3:32pm Aug 12, 2007 3:32pm
... Thank you Old Dog for answer to me so quickly. I've just read your post about GBPUSD ... nice analisy and, of course, nice pips! I liked the idea to "switch" from 4H to 1H chart after the "hammer" testing an important support (365 ema). All my charts now have the correct set up .. I'm ready and excited for the 4H system adventure bye for now and ciao
  • #6,108
  • Aug 13, 2007 4:33am Aug 13, 2007 4:33am
[quote=OldDog;1534071]
Quoting kuky969
Phillip
I hope time in my MT is same as your -central europe
please you said in your wrap up (cable) 8th at 8 oclock ...there is nice tail down, signal was RB but first green-up bar in MACD was 0,00 oclock previous and I took position on the close this candle about 2,0214 ,of course stopped out on SL the next tail, but in this case was best take position on close 8 oclock bar 2,0240 BUT it is 3th green-up bar in MACD
PLEASE have you some tool anticipate this situation or is it just experiences ???? ...

Hello again Kuky, -- Maybe your post will give me a chance to imprint this method better in my own head. Here goes:

On the 7th of August, 20:00 GMT, GBPUSD, the MACD gives a higher low on a round bottom, but it is below the 89, and is considered to be in "bearish" mode. Also, the 200 sma is not too far above, about 40 pips, and may act as resistance. The 365 ema is about a hundred points below and may act as a target for people who are looking for a trend continuation downwards. These are some reasons for not taking the round bottom trade on the next four hour candle, the 0:00 GMT one. However, by the close of the 04:00 candle, GBPUSD has made the long tail and has been rejected by the support of the 365. When this happens, you switch to the one hour chart and look for a good entry point to the upside because, as Phillip said, the damage to the downside has already been done for now. On the one hour chart, the 08:00 candle closes above the zero line on the MACD and also closes above the 21 ema. You, then, look for a long entry somewhere off the 21 (at 2.0229 on the one hour) and look for profit targets below the 89 sma (2.0407 on the four hour). Since it is a counter trend trade, still below the 89, you manage your stop and profit targets carefully, taking your first profit and moving your stop up to break even or into the profit zone as soon as reasonably possible. According to the rules, there is a good chance of the price action testing the 89, and that is what it does at 0:4:00 on the 9th for a possible one hundred plus pips. Now, we'll see if anything I said is right or not. Shauny was telling you the truth. I just like to talk more once I get started.



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  • #6,109
  • Aug 13, 2007 7:09am Aug 13, 2007 7:09am
dear philip

may your brother recover soon. i am really sorry about him.

i have a question about your E/U trade today. at 8 clock on 1H it is below 21 EMA but MACD was showing RT on 1H.

But as i know, dont we follow just TC on 1H graphs?
I am really confused about that.
  • #6,110
  • Aug 13, 2007 7:29am Aug 13, 2007 7:29am
Quoting draven
dear philip

may your brother recover soon. i am really sorry about him.

i have a question about your E/U trade today. at 8 clock on 1H it is below 21 EMA but MACD was showing RT on 1H.

But as i know, dont we follow just TC on 1H graphs?
I am really confused about that.

Thanks. Yes you are right with TC on 1H. It gives very high success rate. But when 4H hits and has found resistance or support on major MA's 365,200,89 or TL you can use the 1H if the price has shown a move away from the S/R. Then you dont have to wait for the second 4H candle to close but you can enter earlier on 1H. This is however more riskier than the TC on 1H.
  • #6,111
  • Aug 13, 2007 7:38am Aug 13, 2007 7:38am
hi everyone,

I'm relatively new here and also have been using the system for one month odd.

I'm wondering is the skype chatroom active?

I realised that they is so much to absorb here and although I've been trading this system (on demo) over a month now with some success, I still think I've got a lot to learn from the wiser ones here like Phil, Pips4youandme, bill2205, digital dean, palmer, ira, tamkras and alcastro.

if you guys dont mind,could i post questions with reference the earlier threads you made earlier? there's like 400 over pages and i'll have to catch up slowly but surely.

cheers
Mike
  • #6,112
  • Aug 13, 2007 7:51am Aug 13, 2007 7:51am
sorry is there a pdf file also for the 1 hour strategy?


Quoting Phillip Nel
Thanks. Yes you are right with TC on 1H. It gives very high success rate. But when 4H hits and has found resistance or support on major MA's 365,200,89 or TL you can use the 1H if the price has shown a move away from the S/R. Then you dont have to wait for the second 4H candle to close but you can enter earlier on 1H. This is however more riskier than the TC on 1H.
Financial Freedom
  • #6,113
  • Aug 13, 2007 7:55am Aug 13, 2007 7:55am
Quoting adelmonora
sorry is there a pdf file also for the 1 hour strategy?

I will post some examples later on.
  • #6,114
  • Aug 13, 2007 7:57am Aug 13, 2007 7:57am
nice..
Financial Freedom
  • #6,115
  • Aug 13, 2007 9:28am Aug 13, 2007 9:28am
Made 2 trades on friday

Please give me your feedback on these 2 trades, being a newbie I might have done something wrong. Also, I'm catching up on the threads to get the education up to speed but also I want to have screen time and learn to trade this system at the same time.

All trades were made on 10th aug

EUR/USD - Morning star and MACD showing V turnaround (10 Aug 8 am candle). Testing the 200SMA and also the 4hr support. Long and was stopped out earlier @ SL of 1.3640. (Target was 89 EMA) Entry @ 1.3792

GBP/USD - Bullish engulfing pattern with MACD RB (10 Aug 8am candle)
Testing the 4hr channel / support but entered due to bullish engulfing and RB on MACD. Stopped out just after GBP PPI was released @ 2.0150. (Target was @ 89EMA and 200SMA - confluence)

Thanks...all feedback is greatly appreciated!
Mike
  • #6,116
  • Aug 13, 2007 9:37am Aug 13, 2007 9:37am
Dear Phillip, I'm very sad to hear about your brother, cancer is such an evil thing, my mother... well it's another story. Just keep up, everything will be all right!
  • #6,117
  • Aug 13, 2007 9:53am Aug 13, 2007 9:53am
hi all
  • #6,118
  • Aug 13, 2007 10:34am Aug 13, 2007 10:34am
Getting back in touch with things....

After being away from the markets for about two weeks it's hard to get the feel of what the markets are doing. I looked at charts for a few hours over the weekend and even though I know what the rules are and how to read things...the rhythm of things has escaped me. I'm thinking it'll take a few days to get back in touch with things and my guess is that I will wait for a solid 4hr signal and let the 1hr reboot my brain. I've got my two buddies, the EURO$ and the $Yen loaded, and it's slowly coming back to me. Slowwwwly. Hope some folks are still on the downside of the EURO$, that's a nice one. I see the $Yen maybe trying to go south as well, trying...not too confident yet.

Why just two pairs....

Looks like there several new faces here and I hope everyone has been doing well. I try to keep things narrowed down to just those two pairs. I like to keep things as 'clean' as possible. I've found that they pretty much move independently of each other for the most part. This gives more entries if one pair is asleep for a while. Also, if I am in a position on one pair and I'm away from the charts, but can get a quote, I can pretty much see the chart in my head. If you only follow one or two pairs it's easier to know the numbers (profit targets) vs. trading four, five, or several pairs. If you have the ability to monitor the charts 24/7 you are in a better position to do trade several pairs. If your chart time is limited, keep the number of pairs limited. It's easier to find your rhythm when there is less to follow.
  • #6,119
  • Aug 13, 2007 10:51am Aug 13, 2007 10:51am
Quoting mikewong
Made 2 trades on friday

Please give me your feedback on these 2 trades, being a newbie I might have done something wrong. Also, I'm catching up on the threads to get the education up to speed but also I want to have screen time and learn to trade this system at the same time.

All trades were made on 10th aug

EUR/USD - Morning star and MACD showing V turnaround (10 Aug 8 am candle). Testing the 200SMA and also the 4hr support. Long and was stopped out earlier @ SL of 1.3640. (Target was 89 EMA) Entry @ 1.3792

GBP/USD - Bullish engulfing pattern with MACD RB (10 Aug 8am candle)
Testing the 4hr channel / support but entered due to bullish engulfing and RB on MACD. Stopped out just after GBP PPI was released @ 2.0150. (Target was @ 89EMA and 200SMA - confluence)

Thanks...all feedback is greatly appreciated!
Mike

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  • #6,120
  • Aug 13, 2007 10:56am Aug 13, 2007 10:56am
Quoting Phillip Nel
Info
Sorry. Here is the Pdf
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File Type: pdf Info.pdf   36 KB | 1,245 downloads
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