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4 Hour Strategy (MACD)

  • #6,401
  • Aug 24, 2007 10:17am Aug 24, 2007 10:17am
Looking for move down after bounce off of 365, fib 50, daily R1, and trendline. Good US fundamentals. Watch MACD for downward retrace.
PIP well.
Dion
  • #6,402
  • Aug 24, 2007 10:19am Aug 24, 2007 10:19am
Hi pips, i thought it was 89 SMA (SIMPLE) . EMA would be Exponential.No?hmmmm. Please reconfirm. Thankyou. Also thankyou for your support and kind words. Always appreciated. Have a great weekend.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,403
  • Edited 11:16am Aug 24, 2007 11:06am | Edited 11:16am
Hi all

I think the G/U forming lower high or it can be double top (I think we can call it double top as phillip rules said :Double Tops, Double Bottoms are formed at major resistance and support ) if the present candle and macd end by this way .. we have 89 and 365 and also 4h trend working as a strong Resistance and if the present candle end by this shape this will present evening star so I think it will be good short trade and the stop loss will be just above the 365 and the profit will be 1: at 89 2: between 8 and 21 ... any comments ..


Best wishes
ammar
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  • #6,404
  • Aug 24, 2007 11:19am Aug 24, 2007 11:19am
ABOAMMAR
I think it could fall to the 89, Price at 2.0036. Also, support around monthly and daily pivot just above 61.8 Fib around 2.0021.
  • #6,405
  • Aug 24, 2007 11:34am Aug 24, 2007 11:34am
Quoting BIL2205
Hi pips, i thought it was 89 SMA (SIMPLE) . EMA would be Exponential.No?hmmmm. Please reconfirm. Thankyou. Also thankyou for your support and kind words. Always appreciated. Have a great weekend.
Nadia.
Hi Nadia,

I'm an idiot -- misremembered one of your posts (thought you said 89 EMA) and then I responded w/ S 89 EMA (which was supposed to be Simple 89 MA). Sorry....my bad

Pips
  • #6,406
  • Aug 24, 2007 11:40am Aug 24, 2007 11:40am
Quoting aboammar
Hi all

I think the G/U forming lower high or it can be double top (I think we can call it double top as phillip rules said :Double Tops, Double Bottoms are formed at major resistance and support ) if the present candle and macd end by this way .. we have 89 and 365 and also 4h trend working as a strong Resistance and if the present candle end by this shape this will present evening star so I think it will be good short trade and the stop loss will be just above the 365 and the profit will be 1: at 89 2: between 8 and 21 ... any comments ..


Best wishes
ammar
If >> if yes .... then x
not ...
x: short

hahaha .. this is the most strong point in this strategy .. waiting the candle to complete and the macd giving the signal .. so now every thinks is changed at least until now .. waiting

Abo ammar
  • #6,407
  • Aug 24, 2007 11:50am Aug 24, 2007 11:50am
Quoting aboammar
If >> if yes .... then x
not ...
x: short

hahaha .. this is the most strong point in this strategy .. waiting the candle to complete and the macd giving the signal .. so now every thinks is changed at least until now .. waiting

Abo ammar
Hi Aboammar!

Nice catch on the 4 hour....wait for it to confirm w/lower high on Macd. All seems right in the world again, and previous trends seem to have resumed (which doesn't mean that the panic selling of the high yielders won't start again and drive down Cable). I sure do like the way you think ...either or scenarios!!!

Have a great weekend!

Pips

PS..you are going to wait for the market to reopen before anything, right?
  • #6,408
  • Aug 24, 2007 1:35pm Aug 24, 2007 1:35pm
Philip, please could you help me with MACD settings. AS per your instructions I set the MACD parameter to 5,13,1. It works but does not show histrogram unless I change the last number anything but 1. Can you guide me on this.

Thanks,
Siddharth.


Quoting Phillip Nel
I am using this 4 Hour strategy only for the last month as I have papertraded for 2 years trying everything and or system I could find. (I am trading equities for almost 10 years)I have decided that I will only go live(after some losses-not to serious) after I have studied the field of forex and are satisfied that I have a system that works. I do believe that we are trying to make it to impressive and difficult. This system is simple and easy to understand. I have backtested and forward tested it over more than 200 trades and it gives 300+ pips per month. I never had more than two consecutive losses. I never use a stoploss bigger than 50. There are enough chances to ignore the ones bigger than 50.

I am using this strategy only on the EurUsd and the GbpUsd. Have not tested it on other.
I hope that you will find some use for it and that it put you on the road to financial independence.

EDIT: For a summary of the 4 hour system go to page 289 Post 4335.
  • #6,409
  • Aug 24, 2007 3:39pm Aug 24, 2007 3:39pm
Dear phillip and all

I wish nice weekned for all ..

I have an idea about the 1H supporting 4H trading .. as I brows and going back to test some points for the 1H .. TC on 1H supporting is only the one case that we are used .. but I check some other points for G/U and see there is some case can be work also but may not that big effect like TC .. so from my side I will try in this weekend to test some case of 1H for the G/U and hope the others test it also for the G/U and others pairs (E/U .. )

So .. did any body test that ?

Best wishes
Abo Ammar
  • #6,410
  • Aug 24, 2007 4:03pm Aug 24, 2007 4:03pm
thanks phillips, am very greatful for your posting. am very new to forex. pls i will need more explanation from you. am just starting the reading, but still am very greatful for this information
  • #6,411
  • Edited 10:59pm Aug 24, 2007 9:24pm | Edited 10:59pm
Could you please comment my following deal?

I saw zero bounce on 4H. Price moved in the channel. Previous candle made nice down tail. Upper trend. Price stopped on the 21EMA. (see first picture)

So I decided to make long trade. First target had been about 25 pips, then I was going to make BE and wait for the second target - upper border of channel (~60 pips). I planned to set SL below the tail of the signal candle (also SL was below 1.21 level and below 21EMA).

Price: 1.2124
SL: 1.2097
FT(first target): 1.2149
ST: 1.2170
R:R - 25:27 (OK)

But price turned back and my SL was hit.

What I missed in my analysis? Was it my mistake or system error?

Thank you

Max
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  • #6,412
  • Aug 25, 2007 6:19am Aug 25, 2007 6:19am
Quoting Rmax
Could you please comment my following deal?

I saw zero bounce on 4H. Price moved in the channel. Previous candle made nice down tail. Upper trend. Price stopped on the 21EMA. (see first picture)

So I decided to make long trade. First target had been about 25 pips, then I was going to make BE and wait for the second target - upper border of channel (~60 pips). I planned to set SL below the tail of the signal candle (also SL was below 1.21 level and below 21EMA).

Price: 1.2124
SL: 1.2097
FT(first target): 1.2149
ST: 1.2170
R:R - 25:27 (OK)

But price turned back and my SL was hit.

What I missed in my analysis? Was it my mistake or system error?

Thank you

Max
I was a risky trade remember that Phillip says that the zero line rebound or crossing is not a signal to enter I think you needed to wait a candle for confirmation.
You could catch it with a TP lower, that happens sometimes even for 1, 2 or 3 pips you miss some trades.
  • #6,413
  • Aug 25, 2007 9:55am Aug 25, 2007 9:55am
Quoting mkain
I was a risky trade remember that Phillip says that the zero line rebound or crossing is not a signal to enter I think you needed to wait a candle for confirmation.
You could catch it with a TP lower, that happens sometimes even for 1, 2 or 3 pips you miss some trades.
Following words are from main document (4 Hour MACD Forex Strategy.pdf):
"When the MACD comes down towards the
Zero line and turn back up just above the
Zero line it is normally a trend continuing
and should be taken and are normally a
strong move."

mkain, could you point me to source where Phillip changes his opinion about "bounce off zero" pattern?

Thank you,

Max
  • #6,414
  • Aug 25, 2007 10:24am Aug 25, 2007 10:24am
Hi all

We can see from the chart how is nice of the market motion .. hitting 89 with macd signal and other factors or pulling back to 21 with a macd signal .. which are an excellent trades .. have a nice weekend.

Abo Ammar
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  • #6,415
  • Aug 25, 2007 12:56pm Aug 25, 2007 12:56pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
The Eur has hit 200sma resistance and also hit previous top 30 Apr 07. Might be coming down to test 8ema and 89sma are.. Really looking forward to a RT in macd signal to short.. Stoploss would probably at 200sma.. Price also went into the orange TL channel.. May pips be with you guys next week!!
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  • #6,416
  • Aug 25, 2007 1:26pm Aug 25, 2007 1:26pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
As what aboammar has mentioned, the market motion and rhythm is in placed.. For the GBP, price has hit orange trendline and at previous top (18 apr 07).. Macd possibly forming a double top. Might be a short coming up.. It looks tough next week because all the moving averages are tightening, price might range around this areas. If price would to continue upwards, it will have to break a few strong resistance before heading up again.. Hopefully, the coming week would be a good piping week for all of us!! Good Luck!!
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  • #6,417
  • Aug 26, 2007 4:01am Aug 26, 2007 4:01am
Hi all, it's so nice to be back after a week of absence, feels like home! My vocation is officially over, so back to work.
I see many great posts this week, so much to read and think about. Now, when I know how you all look like, I may sleep well, as I know, Forex is in reliable hands .
After a period of absence, it's so hard to catch focus and rhythm. So I've decided before opening a trade ask myself, what mentor Phillip would think about it .

Nadia you are a real star of this week, your progress is enormous! I won't be able to catch up with you, so please send me your cristal ball.

Pips, Palmer you are awesome as usuall.

OldDog all the wrapups of coming week are mine as agreed.
  • #6,418
  • Edited 4:05am Aug 26, 2007 4:04am | Edited 4:05am
Quoting Rmax
Ira,

I'm just curious, are you Russian? Your nick is very Russian
Sorry for late response, I'm from Ukraine.
  • #6,419
  • Aug 26, 2007 5:13am Aug 26, 2007 5:13am
Quoting mkain
I was a risky trade remember that Phillip says that the zero line rebound or crossing is not a signal to enter I think you needed to wait a candle for confirmation.
You could catch it with a TP lower, that happens sometimes even for 1, 2 or 3 pips you miss some trades.
I know that zero bounce can be a signal but if you look MACD angle that trade is risky to take ( is that a clear turn around?).
Let the market come to you.
  • #6,420
  • Aug 26, 2007 10:16am Aug 26, 2007 10:16am
Hi, Ira! Welcome back from your vacation! Hopefully the weather was good for you.
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