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4 Hour Strategy (MACD)

  • #6,661
  • Sep 2, 2007 10:00pm Sep 2, 2007 10:00pm
Quoting pips4uandme
Hi Doug,

Page 289, post 4335 starts the 13 lessons....then go to page 290....the 13 are in order over the next few pages & they are clearly labeled by Phillip...Hope this helps you.

Thanks Pips, I will start there.
  • #6,662
  • Sep 3, 2007 12:05am Sep 3, 2007 12:05am
Hello All,

I have been using MT4 for almost a year and it has been working properly. However, it doesn't seem to be connected with the internet today. I got a new laptop with Window Vista installed. Can anyone tell me if the MT4 works on his/her PC.

Many thanks!

Elaine
  • #6,663
  • Sep 3, 2007 12:15am Sep 3, 2007 12:15am
Quoting Elainehuang
Hello All,

I have been using MT4 for almost a year and it has been working properly. However, it doesn't seem to be connected with the internet today. I got a new laptop with Window Vista installed. Can anyone tell me if the MT4 works on his/her PC.

Many thanks!

Elaine
Elaine

I've been using MT4 on vista for close to 2 months now....no glitches so far...have u updated to a new server?

rgds
Tiges159
  • #6,664
  • Sep 3, 2007 12:46am Sep 3, 2007 12:46am
Quoting tiges159
Elaine

I've been using MT4 on vista for close to 2 months now....no glitches so far...have u updated to a new server?

rgds
Tiges159
Dear Tiges15
I just downloaded it last night. Might it be blocked by a firewall from an anti-virus software? But, I have got the firewall uninstalled. And I also tried it on my old laptop with Window XP, no connection as well, displaying data ended last week. What should I do?

Thanks again!
Elaine
  • #6,665
  • Sep 3, 2007 1:08am Sep 3, 2007 1:08am
Quoting OldDog
I'm not sure if someone else may be copying the previous mp3, but I will copy the last one "Random and Odds," so none of us does the same one.
OldDog I am doing the "info" document.
  • #6,666
  • Sep 3, 2007 1:53am Sep 3, 2007 1:53am
Quoting pips4uandme
Don't look at anything on this chart except the last daily bar (friday's close)....anyone see anything remotely interesting?

BTW it is E/U daily....just saw it and it captured my attn....too bad I have some personal obligations I must tend to now....
Pips, I'm looking at it and puzzled. Is it a pin bar, shooting star, inverted hammer or gravestone doji??? Anyway for me it's more likely an indication of a down move, the bulls couldn't keep the price. Here is what I think about E/U at the moment
Down: 1. Daily gravestone doji, 2. 4hour Macd double top, 3. 4h divergency, 4. daily IT, 5. 4h close below 21.
Up: - up thrend on daily.
As you see I'm ready to go either up or down .
BUUTT, we are still in consolidation on 4H, still in a triangle + US holiday - so WAIT for the real price action (that's what I'm telling myself)!!!
  • #6,667
  • Sep 3, 2007 3:47am Sep 3, 2007 3:47am
MT4 is disconnected with my PC (Vista installed).

Can anyone point out the problems?


Many thanks!!!

Elaine
  • #6,668
  • Sep 3, 2007 3:52am Sep 3, 2007 3:52am
Quoting OldDog
Wordpad copy for those who have difficulty understanding spoken English. Look for the accompanying PDF chart on Phillip's original post.
Many Thanks OldDog.
  • #6,669
  • Sep 3, 2007 4:37am Sep 3, 2007 4:37am
To Phillip Nel : I'm wondering if your icon is fortuitous being a lion - king of the jungle. It sometimes feels like you're in the jungle and you have no idea of what's behind the next bush. Is it a bull or a bear? I'm delighted to have tried your system, and although it's early days, I've had three successful trades. That for me is a great start especially if you look at what nonsense I've been doing before in the market. Thanks so much. I can only offer you a klippies met eish!
  • #6,670
  • Sep 3, 2007 4:40am Sep 3, 2007 4:40am
Quoting alexfot
Hi, Pips! It looks like a hammer, and what it supposed to mean in this situation I don't know. I have a filling that market is going up this week, but not bec of this hammer. What do you think about it?
Hi alexfot!

First off...Kuky969and Ira...great job!!!

This Pin, gravestone doji, or inverted hammer may or may not be sig. b/c Friday was the last trading day before Labor day...and supposedly, the last trading day before the professionals return from their august holidays at the beach (translation: most traders went flat on open positions for the day not wanting to risk a major change in trend direction). What I do notice is it is something to pay attention to and look for price failures around 1.3679 or breaks below 1.3591. I also see from a quick visual scan that price closed below a short term support line. I will def. be looking at this pair tomorrow and formulating a plan. The Pin is just to much of an attention getter for me and shouts "keep an eye on my price action...I could do something interesting).

See you guys Tuesday morning...just thought I should answer my brain teaser...

Hope you all had a nice weekend!

Pips
  • #6,671
  • Sep 3, 2007 4:43am Sep 3, 2007 4:43am
Quoting ira
Pips, I'm looking at it and puzzled. Is it a pin bar, shooting star, inverted hammer or gravestone doji??? Anyway for me it's more likely an indication of a down move, the bulls couldn't keep the price. Here is what I think about E/U at the moment
Down: 1. Daily gravestone doji, 2. 4hour Macd double top, 3. 4h divergency, 4. daily IT, 5. 4h close below 21.
Up: - up thrend on daily.
As you see I'm ready to go either up or down .
BUUTT, we are still in consolidation on 4H, still in a triangle + US holiday - so WAIT for the real price action (that's what I'm telling myself)!!!
Nicely Done Ira....You may miss pips, but I think it is a good idea to stay out today. Just my opinion...but volume looks extremely light and price levels could get pushed around pretty easily. Just taking the heads up watch me approach (and I don't have a plan developed, so....looks like no trades for me ).

Talk to you later,
Pips
  • #6,672
  • Sep 3, 2007 6:53am Sep 3, 2007 6:53am
Quoting Elainehuang
MT4 is disconnected with my PC (Vista installed).

Can anyone point out the problems?


Many thanks!!!

Elaine
it seems some brokers have problems today.whc and alpari which use mt4 are working maybe some maintenance done on their platforms
  • #6,673
  • Sep 3, 2007 7:02am Sep 3, 2007 7:02am
Thanks Pips for helping us to keep our heads up.
You and other Americans and Canadians don't drink too much as we need your sober heads tomorrow !

Here is a written copy of yesterday's "info" mp3 for those who have got problems in understanding the spoken English.
Attached File(s)
File Type: doc info.doc   24 KB | 596 downloads
  • #6,674
  • Sep 3, 2007 7:02am Sep 3, 2007 7:02am
I favor a downmove but the price is squashed in and the price action
prior to the tri-angle formation on both was upwards so I will be very
alert when going short. I will sit on the sideline for this one.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #6,675
  • Sep 3, 2007 7:17am Sep 3, 2007 7:17am
Quoting lotsofmoney
it seems some brokers have problems today.whc and alpari which use mt4 are working maybe some maintenance done on their platforms
Hello Lotsofmoney,

Thank you for your information. It is working properly now.

Elaine
  • #6,676
  • Sep 3, 2007 7:51am Sep 3, 2007 7:51am
Quoting panther_trader
I favor a downmove but the price is squashed in and the price action
prior to the tri-angle formation on both was upwards so I will be very
alert when going short. I will sit on the sideline for this one.

Attachment
Attachment
Thank you very much for posting this!!
  • #6,677
  • Sep 3, 2007 8:25am Sep 3, 2007 8:25am
Quoting ira
Pips, I'm looking at it and puzzled. Is it a pin bar, shooting star, inverted hammer or gravestone doji??? Anyway for me it's more likely an indication of a down move, the bulls couldn't keep the price. Here is what I think about E/U at the moment
Down: 1. Daily gravestone doji, 2. 4hour Macd double top, 3. 4h divergency, 4. daily IT, 5. 4h close below 21.
Up: - up thrend on daily.
As you see I'm ready to go either up or down .
BUUTT, we are still in consolidation on 4H, still in a triangle + US holiday - so WAIT for the real price action (that's what I'm telling myself)!!!
Hi, Ira! I see all the odds for favoring move down, especially this pin bar, but i think it was just a stophunting and does not change the whole mood for moving up, the triangle is still there and strong support level at 1.3620. That's why I'm favoring move up, just my opinion. But the market is thin today, and I would stay out.
  • #6,678
  • Sep 3, 2007 9:13am Sep 3, 2007 9:13am
Quoting panther_trader
I favor a downmove but the price is squashed in and the price action
prior to the tri-angle formation on both was upwards so I will be very
alert when going short. I will sit on the sideline for this one.

Attachment
Attachment
Dear all,

Friday's trading day left the market uncertain on directions. As shown in panther's charts, both the E/U and G/U are trading in a range and anticipated breakout but generally the direction of where the breakout is going is unknown.

Being a new trader and also want to learn from your wisdom like Philip, Donna, Nadia , Palmer and all the seasoned traders here, what should we expect ?

In my analysis, i believe both E/U and G/U are quite similar. Both are in an ascending triangle. The G/U has tested resistance of the trendline and also the 89 & 200 SMA (currently) and 365EMA (previously) - like what Philip says when price is between 2 strong MAs will tend to oscillate between the MAs.

The ascending triangle is a bullish one and also confirming with the price testing 200SMA as resistance for more than two times and did not create new lows despite the double top (price action) last week. In fact, it tested 365EMA as support and went away higher to test the 200SMA (currently).

It has also only tested support (lower channel trendline) twice , earlier was a confluence of the weekly lower channel trendline and lately tested the 89SMA but eventually went higher.

Strategy
--------
I feel the pair is bullish as it is siting above the 89SMA and also comfortably above the 21EMA.
However, price is in consolidation mode and breakout is imminent. Therefore, according to Philip's earlier consolidation & breakout management mp3, is it suffice to say that, once a breakout occurs either way, we take the MACD signal developing on the 4hr and can enter through the 1hr chart (for better entry?) - only with a trend continuation signal.

Then once the breakout has passed a certain level (ie if bullish i'll take the 200SMA) and adjust my SL to BE and let it ride. Vice versa on the 365MA if it goes south. (Noticed that when price falls , it tends to fall much faster than when it rises)

Strategy is similar for the E/U since it is quite correlated to the G/U only that the G/U moves faster (just my observation) and slightly more erratic (market rhythm)

Please feel free to comment on my approach and analysis as I really need the feedback being a newbie. ThankS a lot!

Mike
Attached Image (click to enlarge)
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  • #6,679
  • Sep 3, 2007 11:55am Sep 3, 2007 11:55am
Quoting alexfot
Hi, Ira! I see all the odds for favoring move down, especially this pin bar, but i think it was just a stophunting and does not change the whole mood for moving up, the triangle is still there and strong support level at 1.3620. That's why I'm favoring move up, just my opinion. But the market is thin today, and I would stay out.
Hi, Alexfot, I'm glad that you have different opinion as I had too many losses. Anyway if I still have signal in 5 minutes I'll go short as planned. Let's see who is right .
  • #6,680
  • Sep 3, 2007 12:15pm Sep 3, 2007 12:15pm
I wouldn't enter a trade on eur/usd today... too uncertain.
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