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4 Hour Strategy (MACD)

  • #7,661
  • Oct 24, 2007 9:59am Oct 24, 2007 9:59am
Quoting JimDandy
Hello PhilsOpinion,
I would like for you to post your chart upon which you based your trade. I had no RT on my chart because my charts are gmt+2. I never got a RT signal until the 8:00 candle closed at 12:00 By then your deal was done. Way to go.....I did a usdjpy trade instead at that time which I will post later..Here is the way my eurusd chart looked. Really appreciate you posting your trades, I just need the visual aid to compare with my chart...thanks........pipip........Jimdandy.
Hiya Jimdandy!

PhilsOpinion is Phillip skyping from work and some nice person posting...I don't think a chart is possible...

Have a great trading day!

Pips

(I think Phillip is looking at the 1 hour chart to make the trade entry confirming that price is moving away from his res. line)...
  • #7,662
  • Oct 24, 2007 10:35am Oct 24, 2007 10:35am
Quoting BIL2205
Hello. phillip and all the respected members of this forum. i have a question, the hardest part of trading for me right now to deal with is to miss a good trade. Here is a clean chart for euro . i did not get a macd confirmation or small red candles to go short. there was a round top forming but with green candles and no confirmation so i let it go.The signal candle was too long to enter , maybe i could have enter in the motion with 1 hour. but just looking at 4 hour chart did i do the right thing, or did i miss something here. your comments are welcome.

You did the right thing as your platform did not give a signal. I purely entered on a slight RT but the real motive was that the speed is on the 89 and I expected it to test the 89
  • #7,663
  • Oct 24, 2007 11:15am Oct 24, 2007 11:15am
Hi,
In my chart 4Hr is above 89 and bouncing off the 21.Early entry in 1hr is confimed but MACD is under 15.
I was wondering does it matter?

Regards
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 19 KB
Failure, is a wonderful teacher!
  • #7,664
  • Oct 24, 2007 11:18am Oct 24, 2007 11:18am
Info
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 23 KB
Attached File(s)
File Type: zip Trades.zip   691 KB | 1,530 downloads
  • #7,665
  • Oct 24, 2007 11:44am Oct 24, 2007 11:44am
Quoting HenWisdom
Hi everyone, i'm very new to this forum and has been following this thread and very interested. i've started to use the system and it works very good.

i have one question though that i hope somebody will be kind to tell me bout MT4. is there a way to change the time for the charts so that it follows my computer's clock? i live in indonesia which is gmt +7 (not good with counting the time difference). i always get confused if i check the time of the charts compared to my actual time.

thank u very much

Your broker's server time is the chart time. There is no way to change that. It took me a while to get all the time stuff straight, especially to see where the different trading session were. What you can do is just make a list of your 24 hour clock times. Start at 00:00 an write the times down in a column form 00:00 down to 23:00. Then next to those numbers. Write down your brokers current time (the chart time) next to the correct 24hr clock time. You can also add the correct New York ( eastern USA for news time). What you want in the list is the following:

If it's 03:00 ( your 24hr clock time) what is that on my chart (broker time) and what time is it in New York. Have 3 columns of numbers that 'line up' with your correct times..
  • #7,666
  • Oct 24, 2007 12:02pm Oct 24, 2007 12:02pm
shreem/JimTate:

Nice job on those Tc's..I re-entered as well. Sounds like everyone is making some pips this week. I've got the E$ right at the 50% retracement level and is range bound right now. $Yen heading south hard. Just hanging out right now......

Thanks again for the mp3 Phillip.
  • #7,667
  • Oct 24, 2007 12:14pm Oct 24, 2007 12:14pm
Quoting Palmer
Your broker's server time is the chart time. There is no way to change that. It took me a while to get all the time stuff straight, especially to see where the different trading session were. What you can do is just make a list of your 24 hour clock times. Start at 00:00 an write the times down in a column form 00:00 down to 23:00. Then next to those numbers. Write down your brokers current time (the chart time) next to the correct 24hr clock time. You can also add the correct New York ( eastern USA for news time). What you want in the list is the following:

If it's 03:00 ( your 24hr clock time) what is that on my chart (broker time) and what time is it in New York. Have 3 columns of numbers that 'line up' with your correct times..

thank u. i thinks that will do. i'm still trading on demo right now. thanks again
  • #7,668
  • Oct 24, 2007 1:15pm Oct 24, 2007 1:15pm
Quoting pips4uandme
Yeah...that pair makes me sea-sick! I would wait for it to break the congestion area, or give a solid TC down....as for target area, why not just connect the lows for the downtrend for a hypothetical trendline or if playing on market motion target the recent low? I don't trade this pair, so don't have a solid idea for you...dang, I hate 30 year records (actually, has CAD ever been stronger than USD before?).

Happy trading,
Pips
I do trade UCAD actively. I have found that to be the most reliable pair for me. Except when it is capricious. Like now. Never trusted the long signals, always entered on short. But in one week it doublecrossed me 2 times now... (wanted to have a position in all the time - "Because it's a bear market, you know", ended up with 10 pips intead of 160, and 60 instead of 160). So maybe we are looking at a bigger correction then usualy.

It requires a big stoploss, but if you place it according to the market rythm (which could be 60 pips up), you get your reward. As TP I agree with Pips as to connect the bottoms and make your exits there.

Robert
Enter Signature
  • #7,669
  • Oct 24, 2007 2:01pm Oct 24, 2007 2:01pm
For those with difficulty understanding spoken English. For chart, refer to original post 7665.
Attached File(s)
File Type: doc Phillip Nel EURUSD Trade & DailyWrapUp 24 Oct2007.doc   6 KB | 575 downloads
  • #7,670
  • Oct 24, 2007 2:05pm Oct 24, 2007 2:05pm
All,

There is a good tool I use that some might find handy in relation to the time differences.
If you go to time-zones.com there is a free download of a desktop clock that's configurable.

If this post is in any way regarded as some sort of advertising or breaks any rules please delete it asap.

Cheers
Colin.
Enter Signature
  • #7,671
  • Oct 24, 2007 3:52pm Oct 24, 2007 3:52pm
Here is a clock i picked up somewhere. In the input settings just set the broker time to whatever your chart time is from gmt. My broker is gmt+2, so mine is set to 2. Under localtz put in your local time parameter. My time is us central time so i am gmt-6. so input is -6. "show local" will let it show you your local time on the screen. and the "corner" parameter i always set to 2 to make it display in the bottom left corner of my chart. .... set the colors as you like .............pipip...........Jimdandy........
Attached File(s)
File Type: mq4 MT4%20Clock[2].mq4   5 KB | 843 downloads
  • #7,672
  • Oct 24, 2007 3:59pm Oct 24, 2007 3:59pm
The $Yen is setting up a Rb. A few things catch my eye.

1) I think this is the last of the three sisters, three higher lows with higher MACD's.

2) This could be the #3 in a 1-2-3 bottom.

3) $Yen may be correcting a little to the upside to hit the 21 again, stall and resume down, about 40 pips there.

Buuuuut:

1) This is a long candle and the stop would be large and the r:r is leaning more towards the risk side.

2) Longer term charts are to the downside

3) Price hitting the 23.6 Fib# = stalling there and back down or a breakthrough and up to the 21.

4) MACD signal is 'weak' at the .15 level

Choices:

Take the signal with a buy limit to reduce the risk or trade at a lower leverage lot size.

It's 5pm EST USA and things can be very slow here and not get moving until late.

Nobody said this stuff is easy. I'm thinking of getting in (trying to get in) with a limit order and lower leverage. It's been a good week , been stealing some on the the lower tf's and with the 4hr, and don't really want to give anything back....
Attached Image
  • #7,673
  • Oct 24, 2007 4:29pm Oct 24, 2007 4:29pm
I got short on the YEN last night, it's not going up palmer lol. I did close a few +30 but holding the rest with a stop @ cost. Got short @ 114.59
Keep taking CT trades, I need more money
  • #7,674
  • Oct 24, 2007 4:40pm Oct 24, 2007 4:40pm
Ryan:

You beat me to the next post....

Ya know what all that means??? Indecision.

So, I'm just gonna hang out like a hair in a biscuit for now...
  • #7,675
  • Oct 24, 2007 5:22pm Oct 24, 2007 5:22pm
How do i get in on the skype? I have it installed but dont know how to use it. Is the skype a chat or audio roundtable? Someone post some info please about how to take advantage of it.
thanks..............pipip........Jimdandy User name is MississippyJim........
  • #7,676
  • Oct 24, 2007 5:47pm Oct 24, 2007 5:47pm
Seeing how we are all bored from looking at charts that go nowhere. Here are some charts that show why you may want to keep some fib levels on your chart. They come in handy for tp levels when you dont have trend/support-resistance levels upon which to base your tp. Of course they are more powerful when there is confluence of different fibs at or near the same level............ I just love the bounces off of the 61.8........its almost like magic.........pipip JimDandy
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 61.8 fib eurusd1.gif Size: 17 KB
Click to Enlarge Name: 61.8 fib eurusd2.gif Size: 17 KB
Click to Enlarge Name: 61.8 fib eurusd3.gif Size: 15 KB
  • #7,677
  • Oct 24, 2007 5:59pm Oct 24, 2007 5:59pm
Quoting Palmer
Ryan:

You beat me to the next post....

Ya know what all that means??? Indecision.

So, I'm just gonna hang out like a hair in a biscuit for now...

Ya, I am in it with a stop at cost so I am going to ride it out a little and see what happenes, did take some off the table so it's a win/win
Keep taking CT trades, I need more money
  • #7,678
  • Oct 24, 2007 6:37pm Oct 24, 2007 6:37pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
I didn't get the round toppie to short on the eur, I missed the train as well. But its all going to be fine, if we missed it, let it go. Wait for the next train with our tickets on hand, and get in the train when it comes to us!!! So don't fret!!!

Looks like eur is head upwards, will be waiting for a pullback followed by the TC to hop in!!! I can see many guys are making pips this week. This is wonderful. We have got 2 more days left for the week, so let us continue pipping and add to our pip banks!!
  • #7,679
  • Oct 24, 2007 7:02pm Oct 24, 2007 7:02pm
Hello , i am looking at usd yen for a possible short yen, i dont trade this pair but want to see the motion of market happen. here is a 1 hour and 4 hour chart . what do u guys think, If u are already in the trade good, if not, would that trendline stop u from entering or is the set up good enough to take the odds on. your comments are appreciated. Thanks,
Nadia.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4 hour yen.jpg Size: 195 KB
Click to Enlarge Name: 1 hour yen.jpg Size: 157 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #7,680
  • Oct 24, 2007 9:09pm Oct 24, 2007 9:09pm
Just watched the 1 hr usdchf bounce off of the 4hr 21ema .........nice double pinbar........could this be the time to go short? Time will tell????????????chart is gmt+2 I did have a stop just above that 21 but took it out in case there was a stop running spike. The horizontal line above is the 61.8 fib level .....
Attached Image (click to enlarge)
Click to Enlarge Name: 1hbounceoffof21 .gif Size: 16 KB
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