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4 Hour Strategy (MACD)

  • #6,781
  • Sep 7, 2007 2:52am Sep 7, 2007 2:52am
Hello Shauny,

I totally agree with your analysis on GBP. I am on a long position after a short.
  • #6,782
  • Sep 7, 2007 3:12am Sep 7, 2007 3:12am
Hi everybody,
despite of being new in this thread, during last two month I have been following and carefully reading all the thread... I've listened all the MP3 and I have to say that I am very impressed with the system that Phil developed. So, Phil thanks for your effort and thanks all of you guys and girls for your great job that you've done so far. Even I am in paper trading period now and I have to learn a lot about the rhythm of the market, I have to say that PhilNeil system is the first reliable 4hour system among systems what I have tested this year.
Martas
  • #6,783
  • Sep 7, 2007 3:16am Sep 7, 2007 3:16am
Quoting Palmer
InForTheHaul:

Lesson 4 is now on the site where it is supposed to be. Did pips send you your lollipop yet?

I gotta run...about three miles, back in a few...

Hi Palmer,

Got the download - thanks. Didn't get the lollipop - is it possible to exchange the lollipops for lotsapips?

InForTheHaul
  • #6,784
  • Sep 7, 2007 3:19am Sep 7, 2007 3:19am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
I didn't take the prior short position, it was quite late in my region and the TP was at 8ema and its just about 20 pips.. The short trade happened at about 1700 EST time. May I know where did u placed ur TP and what is ur risk/reward ratio? What i normally do is set my tp at 8ema, if pip is too little compared to my risk, i usually forgo the trade.

Currently long GBP @ 2.0186
SL: 2.0150
TP: 2.0260

Reasons: Sitting on 200sma and TL. Previous bar formed a long tail hitting the 200sma. However, 1hr chart didn't show confirmation, this is the drawback. Not a very firm upward signal. I took it because I risk slightly less than 40 pips which i find it is consider a low risk for the GBP.. Let's see how it goes for this trade. i'm with you elainehuang!! Cheers!!
  • #6,785
  • Sep 7, 2007 3:42am Sep 7, 2007 3:42am
Hello, Shauny

I have to go out to take my kid home. I am in China here at 16:30. So I can watch the market movement today. I took this short today on M1 basis, but mostly based on Elliot Wave theory, it works well today on GBP. I think Phillip's system is the best fit for EWT confirmation. I will answer more after I am back. Thank you!

Elaine.
  • #6,786
  • Edited 4:25am Sep 7, 2007 4:02am | Edited 4:25am
Quoting OldDog
For those who have difficulty understanding spoken English.
cool! Definetely help me, lots of thanks

Philip's strategy is very good, but I am indeed not able to understand his spoken English, hope any kind guy can write down what he spoke in his mp3 like this.....
Plan your trades and trade your plans
  • #6,787
  • Sep 7, 2007 4:30am Sep 7, 2007 4:30am
Quoting Palmer
Anyway, this is a little out of bounds here but I'm thinking that if there is an unexpected figure tomorrow for the job numbers and the E$ takes a tumble back down to the 3600 area or so I may just reload to the upside...period. I will wait for MACD confirmation or a bounce off support but the daily bull is running hard now. I'm long form around 1.3660 per a 1hr entry and I'm hoping that holds through the news. If it doesn't I plan on jumping back in long at the first opportunity.

Trade well...

Quoting shauny
I know today is non farm payroll and many are staying out.. However, looking at the charts, the GBP is currently priced near the 200sma and the trendline forming a possible support level, a long trade is highly possible. Anyone taking a long here? I'm still deciding whether should i position myself for a long because the NFP is most likely has a negative impact on the USD and it might catalyst the GBP to skyrocket..
Hey everyone, i am new to this and i can see that both these posts are in favour of long positions on both the EUR$ and GBP$, however i no they are based on technical analysis of the MA lines, but they arent anything to do with the MACD lines? i thought it was all about the MACD? and it appears to be on a downtrend?
Someone help,
Thanks a lot guys
  • #6,788
  • Edited 5:20am Sep 7, 2007 4:58am | Edited 5:20am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting james231287
Hey everyone, i am new to this and i can see that both these posts are in favour of long positions on both the EUR$ and GBP$, however i no they are based on technical analysis of the MA lines, but they arent anything to do with the MACD lines? i thought it was all about the MACD? and it appears to be on a downtrend?
Someone help,
Thanks a lot guys
This system is not just about macd. It comprises a series of tools from moving averages, candlesticks, support/resistance, trendline, fib and etc.. Yes, you are right on that, however, we look at the overall picture. Sitting on 200sma support and trendline, candle form a tail, 8 and 21ema all above the moving averages signifies a bull trend(bullish mood). So according to all these information, we look at macd signal. Right now, as what you have just said, it looks like it is going down. However, it might turned to be a zero pullback or a tc. So by going long now, its like taking the odds on to position yourself in the market to take part in the action. We are talking about postioning for a breakout upwards because all info favour a long. One must consider ur risk/reward ratio before taking the odds on. So its up to individual how they are looking at it. For me, I just want to sit tight if there is any strong and huge wave to flush me upwards(I'm in the boat already).

It might turned out wrong because the news came out positive on usd, therefore causes the downfall of the GBP.. That's why I'm prepared to lose this trade of 30++ pips to gain 60pips or more.. Continue to read this thread because it isn't just about macd. It involves many intruments and tools, that's the beauty of this system.

Currently +22pips on the GBP.
Set Stoploss to -5 pips.

Trade well guys!! Good Luck!!
  • #6,789
  • Sep 7, 2007 5:06am Sep 7, 2007 5:06am
Quoting shauny
This system is not just about macd. It comprises a series of tools from moving averages, candlesticks, support/resistance, trendline, fib and etc.. Yes, you are right on that, however, we look at the overall picture. Sitting on 200sma support and trendline, candle form a tail, 8 and 21ema all above the moving averages signifies a bull trend(bullish mood). So according to all these information, we look at macd signal. Right now, as what you have just said, it looks like it is going down. However, it might turned to be a zero pullback or a tc. So by going long now, its like taking the odds on to position yourself in the market to take part in the action. We are talking about postioning for a breakout upwards because all info favour a long. One must consider ur risk/reward ratio before taking the odds on. So its up to individual how they are looking at it. For me, I just want to sit tight if there is any strong and huge wave to flush me upwards(I'm in the boat already).

It might turned out wrong because the news came out positive on usd, therefore causes the downfull of the GBP.. That's why I'm prepared to lose this trade of 30++ pips to gain 60pips or more.. Continue to read this thread because it isn't just about macd. It involves many intruments and tools, that's the beauty of this system.

Currently +22pips on the GBP.

Trade well guys!! Good Luck!!
lol can't argue with the present outcome!looks like you were correct, thanks for your explanation and response, im learning every day

James
  • #6,790
  • Sep 7, 2007 5:11am Sep 7, 2007 5:11am
Quoting shauny

Currently long GBP @ 2.0186
SL: 2.0150
TP: 2.0260
sorry, me again! Shauny, jus wondered how you came up with your SL and TP values?

Thanks again

James
  • #6,791
  • Sep 7, 2007 5:18am Sep 7, 2007 5:18am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting james231287
sorry, me again! Shauny, jus wondered how you came up with your SL and TP values?

Thanks again

James
My sl is slightly below 200sma and the trendline. TP is targeted at the upper trendline that connects the 3 previous high from 27th aug to 6th sept. I'm currently at breakeven, lets see I'm flush upwards or downwards.. Hopefully upwards!!! haha..
  • #6,792
  • Sep 7, 2007 5:30am Sep 7, 2007 5:30am
HI Philip and everybody ..willing people
please I am a little puzzled ...PLEASE could anybody explain me ..Philip in last daily wrap up said there was a nice trade at 5 september on finish 12-16 hour candle E/U...yes it was nice but I fear 365 EMA as resistance ...or dont care 365 EMA as resistance in this case when all major EMA are too close and price is between them ??? ...I now that only EMA 21 dont play any role in this case ..or I mistake .?? Thank a lot if some body will write some opinion..Thank (my chart is same time zone as Philip)
  • #6,793
  • Sep 7, 2007 5:45am Sep 7, 2007 5:45am
Quoting shauny
I know today is non farm payroll and many are staying out.. However, looking at the charts, the GBP is currently priced near the 200sma and the trendline forming a possible support level, a long trade is highly possible. Anyone taking a long here? I'm still deciding whether should i position myself for a long because the NFP is most likely has a negative impact on the USD and it might catalyst the GBP to skyrocket..
Yes, its an interesting entry point, just bounced from 2,0200, and 200 SMA. I m getting in too. SL at 2,0150 TP 2,0300. NFP figure has to be really good to support the dollar. Its not my style to trade the news though. Im just afraid of the missunderstanding that happens when the people gets in panic. No direction at all, at least after a few minutes.
  • #6,794
  • Sep 7, 2007 6:44am Sep 7, 2007 6:44am
Hello , here is phillip's comment on euro and GBP for 0800 gmt candle which closes in 20 min .

It looks like a definite long for both GBP and EUR. only NFP can spoil it. Might be to close to NFP to go long. I already have some good pips for the week so i will sit aside.
PHillip.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,795
  • Sep 7, 2007 7:17am Sep 7, 2007 7:17am
Get ready for the roller coaster...
  • #6,796
  • Sep 7, 2007 7:27am Sep 7, 2007 7:27am
yeah let me take some motion sickness medication before the fun starts ,
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,797
  • Sep 7, 2007 7:50am Sep 7, 2007 7:50am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
woo.. I was taken on the roller coaster ride!!! Hope you guys took the ride too!! closed about 100++ pips.. Good weekend!!
  • #6,798
  • Sep 7, 2007 7:54am Sep 7, 2007 7:54am
Quoting BIL2205
yeah let me take some motion sickness medication before the fun starts ,
me too.
  • #6,799
  • Sep 7, 2007 7:56am Sep 7, 2007 7:56am
Quoting shauny
woo.. I was taken on the roller coaster ride!!! Hope you guys took the ride too!! closed about 100++ pips.. Good weekend!!
I'm still shaking with adrenaline - this was the first time I had an open trade during NFP! And good for me, I was long on GBP/USD!
  • #6,800
  • Sep 7, 2007 7:57am Sep 7, 2007 7:57am
Yes phillip will be happy to see us making pips. i had only 1 small lot on euro, hit take profit +60 pips. one lot on cable still running. moved stoploss to + 50 pips. lets see. wanted to move stop loss on euro as well. But the spike was too fast.
Trade well and pips plenty.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
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