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4 Hour Strategy (MACD)

  • #7,301
  • Oct 9, 2007 7:15am Oct 9, 2007 7:15am
People i wonder what do you think about this chart and what are your suggestions about AUDUSD at all!
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  • #7,302
  • Oct 9, 2007 7:40am Oct 9, 2007 7:40am
Quoting giogio15
People i wonder what do you think about this chart and what are your suggestions about AUDUSD at all!
Hi giogio15!

What do you see going on? What would you want to see to take a trade? Please share your thoughts and we can comment/share our analysis if you still wish. Sure has been trending wickedly again...what do you see on your chart? Does the trend look to be ending? Is it taking a break? where is price in relation to the MA's? Notice where your MACD signal is? How has this pair performed historically? Are you currently testing the pair? What are the results? ahhh....and don't forget...again...like CAD...pair is hitting 30 year highs....Are you planning a trade strictly off of market rhythm (if so, you would be long now, correct?)? If so, your stop would be where? How about your TP? What does the r:r look like?

Really, the last thing you want are other people's opinions until you have a good idea of what you are thinking/seeing... more beneficial in the learning phase to post your thoughts and ask feedback(promise). In the overall scheme of things...A/U is a bullish pair...as long as commodity prices stay up, market risk appetitite is good, and the equity markets continue to perform nicely, we will see the pair appreciate -- any hiccups and the price drops & chops briefly....looking forward to seeing your thoughts on OZ!

Pips
  • #7,303
  • Oct 9, 2007 7:44am Oct 9, 2007 7:44am
I look at it and it follows the rules. so i took the short on
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #7,304
  • Oct 9, 2007 8:08am Oct 9, 2007 8:08am
I see great market rhythm wich is ocured on AUDUSD pair and waiting for MACD to confirm rhythm with signal. My tp will be at the resistance line wich i had drawn on the chart. I think this is a real high probability entrance, isn't it?
  • #7,305
  • Oct 9, 2007 8:10am Oct 9, 2007 8:10am
Quoting ejiexe
I look at it and it follows the rules. so i took the short on
You shorted AUDUSD?
  • #7,306
  • Oct 9, 2007 9:00am Oct 9, 2007 9:00am
$Yen at the 21...
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  • #7,307
  • Oct 9, 2007 9:06am Oct 9, 2007 9:06am
great entrance point-)
  • #7,308
  • Oct 9, 2007 9:08am Oct 9, 2007 9:08am
EurUsd. Might be a countertrend to 21ema and the price is below 89. Anticipation is difficult as the down move has not been proved yet. A TC from the 8/ 21 down will establish that.
  • #7,309
  • Oct 9, 2007 9:32am Oct 9, 2007 9:32am
Few view points about EurUSD. I think EU deserves to be shorted, most interesting thing is that it is pulling back to the 21 ema (good market rhythm) and as our chart below shows us it is pulling back to another great resistance (yellow trendline) so it seems to me that we will soon get great trading opportunity!
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  • #7,310
  • Oct 9, 2007 10:19am Oct 9, 2007 10:19am
Set-ups on the EUR$ and $Yen...

Both are at the 21 right now. If I had a choice of a Tc signal I would have to put my vote on the $Yen. That trend is more 'established' and the daily has broken a resistance point as of last week...just a though. Still a few hours to go before confirmation, watching the 1 hr as well...
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  • #7,311
  • Oct 9, 2007 10:44am Oct 9, 2007 10:44am
Hi all;
I am very interested in learning about this strategy, but as it is a huge thread (suggesting validity), I thought I'd ask first.

In my experience, most threads reach a point where the original idea shifts/changes or loses focus and before I start reading, I was wondering if anyone can give me advice on best place to start. Has this thread changed significantly at some point or has it remained true to it's original idea.

I saw the "edit: for page 289 - post 4335". Is that a good place to start?

Thank you for any advice.
  • #7,312
  • Oct 9, 2007 11:00am Oct 9, 2007 11:00am
freevey:

The method is the same as it has been originally posted. Nothing has been added, changed, or tweaked. Phillip has done a huge amount of work before posting the method. You can check out the website as well for additional info.
  • #7,313
  • Oct 9, 2007 11:06am Oct 9, 2007 11:06am
Quoting freevey
Hi all;
I am very interested in learning about this strategy, but as it is a huge thread (suggesting validity), I thought I'd ask first.

In my experience, most threads reach a point where the original idea shifts/changes or loses focus and before I start reading, I was wondering if anyone can give me advice on best place to start. Has this thread changed significantly at some point or has it remained true to it's original idea.

I saw the "edit: for page 289 - post 4335". Is that a good place to start?

Thank you for any advice.

Hi
The thread has not change at all only improved as it went on.
It is good to start with those 13Lessons and study the heart of this system. That is only a summary. Give very much attention to the Rhythm parts as that is the heart of this sytem. Then read through the thread making notes of the important stuff.

Welcome and good luck
Phillip
  • #7,314
  • Oct 9, 2007 11:39am Oct 9, 2007 11:39am
Please if you have time review my thoughts on Ero/dollar

The 8:00et bar has gone up and hit the 21 ema. We are now ready to watch for a down move. To do this we must wait for macd con. Right now macd is not showing conf. It could bounce around the 21 for a few 4hr bars. Trying to decide direction before going down. So now is when patience comes in. Once I get some kind of macd conf on short. I enter on the next bar. Looking for a trend con. pattern which would be a red macd bar. Once that forms enter on next red bar.

Please let me know if my annylis follows your thoughts on system. Thanks so much
  • #7,315
  • Oct 9, 2007 11:49am Oct 9, 2007 11:49am
Quoting panther_trader
Hi mike,

I wrote an indicator with ATR and other, from my point of view, important figures. Just compile and add it to your MT4.

br
panther_trader
Thanks !
  • #7,316
  • Oct 9, 2007 11:50am Oct 9, 2007 11:50am
Quoting panther_trader
Hi mike,

I wrote an indicator with ATR and other, from my point of view, important figures. Just compile and add it to your MT4.

br
panther_trader
Thanks very much
  • #7,317
  • Oct 9, 2007 11:57am Oct 9, 2007 11:57am
Thank you for the advice. Here I go... from page 1. Next time I post, I'll be cross-eyed from reading
  • #7,318
  • Oct 9, 2007 1:27pm Oct 9, 2007 1:27pm
Quoting JimTatum
Please if you have time review my thoughts on Ero/dollar

The 8:00et bar has gone up and hit the 21 ema. We are now ready to watch for a down move. To do this we must wait for macd con. Right now macd is not showing conf. It could bounce around the 21 for a few 4hr bars. Trying to decide direction before going down. So now is when patience comes in. Once I get some kind of macd conf on short. I enter on the next bar. Looking for a trend con. pattern which would be a red macd bar. Once that forms enter on next red bar.

Please let me know if my annylis follows your thoughts on system. Thanks so much
That's about it. You can look to the 1hr to get in a little quicker before that 4hr bars closes. But, you have to wait on the 1hr for confirmation as well. This is all about being in touch with the trend. The bear 4hr trend on the EUR$ is a little 'newer' vs the $Yen with the same set-up that has been above the 89 for a longer time. Either way, be patient. Getting in quicker on the 1hr reduces the risk if the signal is true because you are getting in sooner. It's a riskier move because it is quicker entry. Remember, the heart of this method is the 4hr chart and some folks don't even look at the 1hr to trade. It's a trader's preference...
  • #7,319
  • Edited Oct 10, 2007 2:18am Oct 9, 2007 1:31pm | Edited Oct 10, 2007 2:18am
Hello,

this is my trade for today:

9 oct 07

19:14 gmt

eur/usd has probably found resistance at ema21

macd doesn't show clear indication but the probability is high
for the eur/usd go go back to ema8

eur/usd short 1,4084

sl 1,4117 sma98 (out of downchannel) 2x -33

(a)tp 1,4050 ema21 +34

(b)tp 1,4015 last low (still in downchannel) +69

19:51 gmt

oops, this doesn't look too good... I'm at 2x - 30 pips

what have I done wrong?


01:20 gmt

SL triggered -66 pips


total - 66 pips


I should have waited for the macd to provide an indication.
I should have waited for the candle to close.


I apprechiate comments and corrections

Greetings
  • #7,320
  • Oct 9, 2007 1:58pm Oct 9, 2007 1:58pm
Quoting Palmer
That's about it. You can look to the 1hr to get in a little quicker before that 4hr bars closes. But, you have to wait on the 1hr for confirmation as well. This is all about being in touch with the trend. The bear 4hr trend on the EUR$ is a little 'newer' vs the $Yen with the same set-up that has been above the 89 for a longer time. Either way, be patient. Getting in quicker on the 1hr reduces the risk if the signal is true because you are getting in sooner. It's a riskier move because it is quicker entry. Remember, the heart of this method is the 4hr chart and some folks don't even look at the 1hr to trade. It's a trader's preference...

Thanks for your input. it really helps to get that
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