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4 Hour Strategy (MACD)

  • #7,761
  • Oct 28, 2007 4:37pm Oct 28, 2007 4:37pm
Thanks Palmer for the indicators- tools and all your POSITIVE contribution. You give A lot to this thread and system. Thanks .
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #7,762
  • Oct 28, 2007 4:52pm Oct 28, 2007 4:52pm
Thanks Nadia...Just trying to do my part to try and figure out our place in the Universe...
  • #7,763
  • Oct 29, 2007 12:54am Oct 29, 2007 12:54am
Quoting Phillip Nel
Hi
I will only enter on 365 if it has proven to be supp/res level otherwise I use it when price has moved away from other MA's and TL's only as I possible profit target. It plays a much lesser role.
Phillip
Thanks Phil!
  • #7,764
  • Edited 5:00am Oct 29, 2007 1:14am | Edited 5:00am

08:00

The market has gapped up. I will wait for further development nand a place to get into the market off the 4H.

12;00
EurUsd
I will enter short at close of 12:00 with stop 33 pips away if nothing serious happens till then. Watch the 8EMA closely for a turnaround into a TC. Get to BE as soon as possible with TP at 21. Good luck
  • #7,765
  • Oct 29, 2007 5:32am Oct 29, 2007 5:32am
Quoting Phillip Nel

08:00


The market has gapped up. I will wait for further development nand a place to get into the market off the 4H.

12;00
EurUsd
I will enter short at close of 12:00 with stop 33 pips away if nothing serious happens till then. Watch the 8EMA closely for a turnaround into a TC. Get to BE as soon as possible with TP at 21. Good luck
G'Day Phillip and fellow posters,

Just a quick question Im just trying to get my head around the time differences between our countries.

Phil , when you say close of 12 candle , do you mean close of the 12 o'clock 4 hour candle , which would be an entry at 4'oclock? ,or early entry on 1 H at close of the actual 12 o'clock candle, which would be 1, 0'clock entry.?

Sorry if this sounds like a silly question, Im trying to get a gauge of our time differences.
As I type this It is currently 8.33pm east coast of Aust.

Thanks in advance, Marty.
  • #7,766
  • Oct 29, 2007 6:07am Oct 29, 2007 6:07am
Quoting martaroony
G'Day Phillip and fellow posters,

Just a quick question Im just trying to get my head around the time differences between our countries.

Phil , when you say close of 12 candle , do you mean close of the 12 o'clock 4 hour candle , which would be an entry at 4'oclock? ,or early entry on 1 H at close of the actual 12 o'clock candle, which would be 1, 0'clock entry.?

Sorry if this sounds like a silly question, Im trying to get a gauge of our time differences.
As I type this It is currently 8.33pm east coast of Aust.

Thanks in advance, Marty.

Sorry. I see that my 4H candle has only close now so ther will be a 1H shift I think. Can someone confirm this please.
  • #7,767
  • Oct 29, 2007 6:33am Oct 29, 2007 6:33am
The EURUSD Gap Up:

Note: If you took the Rt on the EU the gap to be filled is right in line with the 8EMA target. This 'may' be all you get so keep an eye on it...gotta run
  • #7,768
  • Oct 29, 2007 6:36am Oct 29, 2007 6:36am
Quoting Phillip Nel
Sorry. I see that my 4H candle has only close now so ther will be a 1H shift I think. Can someone confirm this please.
Thanks Mate,

I have 25 minutes to go till my 4 hour close, however I did enter from the 1 hour with an order I had placed.

It seems your 4 hour candles close an hour earlier than mine. hmmmm.

We did have Daylight saving time start on the weekend in every other state of Aust , except for Queensland.

Did you end up entering on you candle close?

Regards Marty.
  • #7,769
  • Edited 8:13am Oct 29, 2007 7:59am | Edited 8:13am
Quoting Palmer
The EURUSD Gap Up:

Note: If you took the Rt on the EU the gap to be filled is right in line with the 8EMA target. This 'may' be all you get so keep an eye on it...gotta run
Hi Palmer,

Gotta agree with you on the 8EMA. It's been riding it for a while now. I took this RT on the 1 hour gravestone. Divergence between the 2 doji's, and a failure to break above 1.4425 on those previous 3 - 1 hour bars. But, it is a bit risky being a countertrend trade.

Sell entry - 1.4416
Target at the 21EMA - 1.4350
Stop is a few pips above the gravestone - 1.4451
R:R >1
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Oct_29_07_4hr_1hr_1O.GIF Size: 26 KB
  • #7,770
  • Edited 10:30am Oct 29, 2007 9:22am | Edited 10:30am
Yes, I took the Rt as well. Was going to enter three positions but the limit did not get filled so I'm short two. The 21ema is right at the 61.8 Fib#..interesting. I've got my stops tight right now. I've got a weird feeling about things for some reason, don't know why....

I chickened out took 40 and split...Thinking about too many other things right now....
Attached Image
  • #7,771
  • Oct 29, 2007 2:00pm Oct 29, 2007 2:00pm
I only got home now. Hope you people made some pips. There were not many but one could pocket some at the end.

As I expected it turned just below the 8EMA. Hope you people were breakeven at worst case. I decided to took 15 pips on the retrace to 1.4400 at candle close with that tail.
  • #7,772
  • Oct 29, 2007 3:18pm Oct 29, 2007 3:18pm
Quoting Brandon LG83
Hey folks. I haven't posted in awhile I've been doing ALOT of studying and backtesting. I had a question for Phil or anyone else who may can help me. Regarding Round Tops, I noticed these sometimes turn into Trend Continuation patterns. Is this just a possibility we must deal with or are there further filtering methods we can apply to reduce this risk? Also, if we take an RT trade, and it does turn into a TC, do we immediately exit or wait to see if it plays out in our favor? Seems like I remember reading somewhere where Phil said he doesn't use MACD signals to exit trades. Otherwise, I would assume we exit when we see this. Can someone clarify this for me please?

Also, during backtesting, I noticed July of 2006 was a rough month for the EUR/USD. I would have lost something like 100+ pips. I was curious if anyone knows why this may be. Maybe economic news or something of that sort? If someone has the time, could you please try out July '06 and see if you get the same results.

Thanks for all the wonderful help you folks have provided. It's much appreciated. This is a fantastic system I'm super impressed!

Brandon
Sorry for answering only now. If RT/RB turn to TC or an early sign of a TC one must be sure that it was news that is driving the opposite direction otherwise one has to stick with original decision or get out as close to BE as possible as part of moneymanagement. I will do some analyses on July 2006 and post it on FF during the week.
  • #7,773
  • Oct 29, 2007 3:22pm Oct 29, 2007 3:22pm
Quoting Palmer
Yes, I took the Rt as well. Was going to enter three positions but the limit did not get filled so I'm short two. The 21ema is right at the 61.8 Fib#..interesting. I've got my stops tight right now. I've got a weird feeling about things for some reason, don't know why....

I chickened out took 40 and split...Thinking about too many other things right now....

Nice feeling. I also had that same feeling. Could not watch live or I would have taken 30. But 15 is still in the bag.
  • #7,774
  • Oct 29, 2007 3:23pm Oct 29, 2007 3:23pm
Quoting Palmer
Yes, I took the Rt as well. Was going to enter three positions but the limit did not get filled so I'm short two. The 21ema is right at the 61.8 Fib#..interesting. I've got my stops tight right now. I've got a weird feeling about things for some reason, don't know why....

I chickened out took 40 and split...Thinking about too many other things right now....
Hey Palmer, u got a exelent feeling uh?!
The prices go down a little and up again.

But nice pips.
  • #7,775
  • Oct 29, 2007 4:24pm Oct 29, 2007 4:24pm
waiting for usdchf to turn into a tc, it might be a good take if it does. what do you think?
  • #7,776
  • Oct 29, 2007 4:39pm Oct 29, 2007 4:39pm
Numeral...I promise I had nothing to do with that

gillean...I don't trade the Swissie but there was a nice Tc off the 21 a few bars ago...

With the Fed meeting Wednesday...There's talk of a definite .25 cut or a not so surprising .50 rate cut if that were to happen. I think that's what's given me a funny feeling about things right now.
  • #7,777
  • Oct 29, 2007 6:02pm Oct 29, 2007 6:02pm
Quoting gillean
waiting for usdchf to turn into a tc, it might be a good take if it does. what do you think?
hi, I've spotted this one also .. if tc then I'd take the trade. greetings
  • #7,778
  • Oct 29, 2007 7:00pm Oct 29, 2007 7:00pm
For the PM's I got about TC trades, don't be lazy read Phillip's post, it's back a few pages, he has 15 trades listed. Again I am willing to help but I don't have the time to post every trade tell why I took it and to tell people what when how and why I took a trade. Even if I did people would still lose it has happened to the past 4 people I have spent too much time with, then they talk bad about me because I was trying to help. Only thing I can say is DON'T BE LAZY, making as much money as you want to is not easy and that's why 5% only make it. It took me 3 years of losses and it sucked. If you read PHILLIP you will make money, if you do all this other crazy stuff and stare at the chart long enough you will find a trade, the wrong one. Stick with the EUR learn it trade it then look at others. 4HR TC TRADE will make you money, it's too easy that's why people lose.
Keep taking CT trades, I need more money
  • #7,779
  • Oct 29, 2007 7:05pm Oct 29, 2007 7:05pm
Nice post, Ryan! Very profound and right to the point.
  • #7,780
  • Oct 29, 2007 8:10pm Oct 29, 2007 8:10pm
Hello Ryanmcd, I truly second the comment of Alexfot, your post is excellent and point to a very important thing which is you cannot make money in the forex market if your not willing to take all the necessary time to learn the method and read all the thread and Phillip PDF and MP3. If your not willing to do that, then forget about making a living from it.

Nothing in life is given by doing nothing and there is no holy grail. If there was one, it certainely, the dedication, discipline, patience and willingness to learn a method and to stick long enough to become successful.

Very good point Ryanmcd

Sincerely

Shreem
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