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4 Hour Strategy (MACD)

  • #8,161
  • Nov 6, 2007 3:28pm Nov 6, 2007 3:28pm
Quoting JimDandy
One of my favorite lines from the book "Trading in the Zone" is that some people say when you look at a chart you see what you want to see.......the truth is that when people look at a chart they see what they KNOW to see.....he then gives the example of the first time someone showed you a chart with all those lines on it.......it was just a jumbled mess to you.......then later after some learning you go back and look at the same chart and are amazed at what was in front of you the whole time.......I hope some day to be as good as Ryan and be able to "see" what is there without the visual cues i use .......but until then i'll stick with my trendlines,fibs and sup/res lines..........them I KNOW. And believe me i need all the help i can get! LOL........pipip........Jimdandy.....

p.s. anyone take the tc on the cable?....i have one on my gmt+2
Jimdandy you are doing great!! Keep up the good work!

I'm not seeing the tc on my charts at the present time & my next candle closes in 30 min -- instead I'm seeing price failure at previous IT w/MACD turn. The r:r is a bit questionable though...only time will tell -- countertrend trading this market is pretty scary.
  • #8,162
  • Nov 6, 2007 3:58pm Nov 6, 2007 3:58pm
Thanky you pips, for your essay and advices.

Greetings
  • #8,163
  • Nov 6, 2007 4:31pm Nov 6, 2007 4:31pm
Hey guys, just put in my second trade. I went short on eur/usd. It is at the top of my trendline and has a nice round top. Just wanted to see what others though.
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  • #8,164
  • Nov 6, 2007 4:35pm Nov 6, 2007 4:35pm
Hello,

I have a question in how to predetermine trendreversal through the 1h chart.
Listening to Phillips mp3 I have learned that one should take only trendcontinuation patterns on the 1h chart.
Actually we have the eur/usd forming a RT and a trendreversal could be near.
If I want to enter this trade safely before 4:00 candle close, how could I make it a a safe entry.

Generally: how can one predetermine a trendreversal with the 1h chart?

Thanks in advance

Greetings
  • #8,165
  • Nov 6, 2007 4:38pm Nov 6, 2007 4:38pm
Quoting Ryanmcd
EURUSD - Looks like it may have topped here, Like the nice Round macd with the small bars and Phillip's MP3 was also on the money. The EUR has to come back sometime right Looking for a short setup here, low risk and nice long ways off the 8MA which is what I like.
Watching with interest as well....
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  • #8,166
  • Nov 6, 2007 4:40pm Nov 6, 2007 4:40pm
Quoting FxTex
Hey guys, just put in my second trade. I went short on eur/usd. It is at the top of my trendline and has a nice round top. Just wanted to see what others though.
I've got another 1:30 before the 4hr closes...Only 2 pips in the red on the MACD right now....I gotta wait.
  • #8,167
  • Nov 6, 2007 4:49pm Nov 6, 2007 4:49pm
About EUR/USD, we are suposed to wait until the candle that forms round top closes, aren't we?
Ado Whether you believe you can do a thing or not, you are right.
  • #8,168
  • Nov 6, 2007 4:50pm Nov 6, 2007 4:50pm
Quoting Palmer
Watching with interest as well....
My charting setup closes the 4 hour candle 2 hours before/after yours, I have been using my charts for this system and it hasn't shown anything wrong with it. Do you think it will mess anything up?
  • #8,169
  • Nov 6, 2007 4:50pm Nov 6, 2007 4:50pm
Quoting Palmer
I've got another 1:30 before the 4hr closes...Only 2 pips in the red on the MACD right now....I gotta wait.
Hello Plamer,

which would be the macd pip value that would indicate a short entry?

Greetings
  • #8,170
  • Nov 6, 2007 4:56pm Nov 6, 2007 4:56pm
Quoting ashes
Hello,

I have a question in how to predetermine trendreversal through the 1h chart.
Listening to Phillips mp3 I have learned that one should take only trendcontinuation patterns on the 1h chart.
Actually we have the eur/usd forming a RT and a trendreversal could be near.
If I want to enter this trade safely before 4:00 candle close, how could I make it a a safe entry.

Generally: how can one predetermine a trendreversal with the 1h chart?

Thanks in advance



Greetings
ashes...Which .mp3 are you referring to???

Are you sure that you heard correctly? I don't think that Phillip has mentioned anything about getting in on a trend-reversal early on the 1hr. The main use of the 1hr is to get in early on a trend continuation signal that is developing on the 4hr. If you're talking about getting in early on a Rt or Rb that is forming on the 4hr, someone, Phillip, might have mentioned something towards the fact that if the price is having trouble passing through a support or resistance area and the MACD is in the process of forming a Rt or Rb then maybe try to get in early...not sure. If you try to get in on a Rt or Rb early and price breaks that barrier...not sure I'd want to be in that one. I've seen it many times where there is a Rt or Rb forming and the MACD is showing the correct color to get in, 8 or 10 pips 'deep' only to see it turn around and continue in the original direction. Someone correct me if I'm wrong here...
  • #8,171
  • Nov 6, 2007 4:59pm Nov 6, 2007 4:59pm
Quoting FxTex
My charting setup closes the 4 hour candle 2 hours before/after yours, I have been using my charts for this system and it hasn't shown anything wrong with it. Do you think it will mess anything up?
No. This is because the broker server times are different. You may have a signal now that I don't see and I may have a signal now that you don't see. This all evens out in the end if you know what I mean.
  • #8,172
  • Nov 6, 2007 5:01pm Nov 6, 2007 5:01pm
Quoting Palmer
ashes...Which .mp3 are you referring to???

Are you sure that you heard correctly? I don't think that Phillip has mentioned anything about getting in on a trend-reversal early on the 1hr. The main use of the 1hr is to get in early on a trend continuation signal that is developing on the 4hr. If you're talking about getting in early on a Rt or Rb that is forming on the 4hr, someone, Phillip, might have mentioned something towards the fact that if the price is having trouble passing through a support or resistance area and the MACD is in the process of forming a Rt or Rb then maybe try to get in early...not sure. If you try to get in on a Rt or Rb early and price breaks that barrier...not sure I'd want to be in that one. I've seen it many times where there is a Rt or Rb forming and the MACD is showing the correct color to get in, 8 or 10 pips 'deep' only to see it turn around and continue in the original direction. Someone correct me if I'm wrong here...
Hello Palmer,

thank you for your reply.
My general question is if there is a way to use the 1h chart to predetermine a trend reversal.
Because the way of using the 1h as I have heard it on the mp3 is for trendcontinuation.

Sorry if my english has been a bit confusing.

Greetings
  • #8,173
  • Nov 6, 2007 5:04pm Nov 6, 2007 5:04pm
Quoting ashes
Hello Plamer,

which would be the macd pip value that would indicate a short entry?

Greetings
ashes:

The last red MACD bar on the chart shows a 2. This means that if the price increases 2 pips it will go back to green and vice versa. But, as Phillip has stated this is not just a MACD formation trading strategy. The MACD is used as an additional tool with the market rhythm. See how the MACD has been reacting with the price channel? Right now, we are at the all-time highs (resistance) and the MACD is showing the price is forming a round top with that resistance. The MACD pip value just shows the amount of pips (positive or negative) that is need to change the color of the MACD bar to the other color. Not sure if I get your question???
  • #8,174
  • Nov 6, 2007 5:07pm Nov 6, 2007 5:07pm
Quoting ashes
Hello Palmer,

thank you for your reply.
My general question is if there is a way to use the 1h chart to predetermine a trend reversal.
Because the way of using the 1h as I have heard it on the mp3 is for trendcontinuation.

Sorry if my english has been a bit confusing.

Greetings

The 1hr charts are for early entries on the trend continuation patterns that are developing on the 4hr, you are correct.

As far as using the 1hr for trend reversals...that's a different subject and might need a thread by itself ;

No need to apologize about the English...everyone is here to help.
  • #8,175
  • Edited 5:11pm Nov 6, 2007 5:09pm | Edited 5:11pm
Hello Ashes,
I dont know if you use mt4 or not but if you do I thought i would tell you about this.......if you will open your data window and then move your mouse across the macd bars of past good signals. It will show you in the data window how much up or down the macd was from the bar before........so look back at previous " sure fire" signals that worked out well and it will give you an idea of the number of pips that works pretty well. It is really at your discretion much like the question. " How many pips do i let my position move before I move my stop to break even?" It's really up to you..... but base that decision on something that seems to have worked in the past......Hope I have helped you to reach a decision......pipip Jimdandy.......

p.s. Thanks for the pat on the back PIPS it means alot coming from you........
  • #8,176
  • Nov 6, 2007 5:19pm Nov 6, 2007 5:19pm
Hello Palmer,

the 1h trend reversal forecast seems to be a different subject ... ok.

I have thought, that there might be a macd pip value that would indicate an entry. (according to the markets volatility or other indicators (eg ATR) and to the market rhythm rules, of course)

I have just spotted the macd_v102 with that pip value when you were referring to it answering FxTex. I have now downloaded and instaled it.
Could be helpful.

Thank you for your answers

Greetings
  • #8,177
  • Nov 6, 2007 5:26pm Nov 6, 2007 5:26pm
Quoting Ado
About EUR/USD, we are suposed to wait until the candle that forms round top closes, aren't we?
Ado..just saw your question. Yes. You'll see this a lot: Take for instance, the Rt that is forming now in the EURUSD. I'm showing a red MACD bar that is red by 4 pips right now with 40 minutes to go. I have seen it countless times where there is a Rt or Rb forming and there is an hour or even 30 minutes to go and the MACD shows 8, 9, 10 pips in that direction. You start thinking that you have missed the move or are going to miss the move and you jump in. A few minutes later the price turns against you, the MACD returns to the previous color and the price continues in its original direction. You ended up jumping the gun and your position has turned into a loss. It's important to wait. Right now with only 2 pips showing to complete the Rt with price, this could very well end up being 'just another' green MACD bar and price keeps going up. It pays to be patient.

I said a week or so ago that I'm about 90% there for being 100% patient after about 12 or 13 years of on/off trading....almost there.
  • #8,178
  • Nov 6, 2007 5:27pm Nov 6, 2007 5:27pm
Hello JimDandy,

thanks a lot, I didn't know this feature of mt4. I will study this.

Greetings
  • #8,179
  • Nov 6, 2007 5:32pm Nov 6, 2007 5:32pm
Quoting ashes
Hello JimDandy,

thanks a lot, I didn't know this feature of mt4. I will study this.

Greetings

Well after posting that...... ive been gong thru some charts and have found that it works on some of my charts and not on others..... so you may want to make sure of what it is doing on sometimes its pips and sometimes its macd level...hmmmm.......My charts use that extradecimal point and i think its messing with this.......pipip........Jimdandy
p.s. you will also notice it gives you the moving average levels too........
  • #8,180
  • Nov 6, 2007 5:48pm Nov 6, 2007 5:48pm
Guys, don't rush the trades, if you take a short before the MACD shows too and it ends up posting a different color, well you screwed up pushing a trade. I will prob get in short here on the EURUSD due to it being a low stop trade as well as a nice round top but I will not enter it until it prints just like I do all my trades.
Keep taking CT trades, I need more money
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