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4 Hour Strategy (MACD)

  • #8,461
  • Nov 14, 2007 12:55pm Nov 14, 2007 12:55pm
Hi Ryan,

When the price is getting close to the 21ma, will you check other indicators before entering a long order?

Thanks

Quoting Ryanmcd
The bar is not closed so no. Also it's getting close to the 21ma and the trend is up. I will be looking to get long off a bounce of the 21ma.
  • #8,462
  • Nov 14, 2007 1:10pm Nov 14, 2007 1:10pm
Quoting Forex4H
Hi Ryan,

When the price is getting close to the 21ma, will you check other indicators before entering a long order?

Thanks
I just kinda eyeball it, I am sure about 15 things go through my mind but I have been in so many trade now over 10,000 I just go off the feel. It's kinda like driving a stick shift car, you just get in and go.
Keep taking CT trades, I need more money
  • #8,463
  • Nov 14, 2007 1:47pm Nov 14, 2007 1:47pm
I entered on the opening of what I think is a TC candle. Candle close was above 21, moved back to 21. Now on its way to 89. SL was 40pips. My aims as indicated on the chart. Already 30pips in profit.

Lets see what going to happen. Not really the two pairs I am following but I just saw the rules reflected in the chart, SL was not that far away, RR not to bad and thought I'll give it try.
Attached Image (click to enlarge)
Click to Enlarge Name: 2007114 4h trade 1.gif Size: 24 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #8,464
  • Nov 14, 2007 1:56pm Nov 14, 2007 1:56pm
Quoting Golfer
I entered on the opening of what I think is a TC candle. Candle close was above 21, moved back to 21. Now on its way to 89. SL was 40pips. My aims as indicated on the chart. Already 30pips in profit.

Lets see what going to happen. Not really the two pairs I am following but I just saw the rules reflected in the chart, SL was not that far away, RR not to bad and thought I'll give it try.

It is according to the rules. Nice TP targets as well. Lets see how this is working out.
  • #8,465
  • Nov 14, 2007 2:26pm Nov 14, 2007 2:26pm
Quoting Phillip Nel
It is according to the rules. Nice TP targets as well. Lets see how this is working out.
Tx Phillip, for all your support. After a struggling and later reasonable successful 8 months with the 5min system, I am hopefully back to understand the 4h MACD system. Really learned a lot with the 5min system - general rules that one can also apply using the 4h MACD system.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #8,466
  • Nov 14, 2007 3:34pm Nov 14, 2007 3:34pm
Here's one of my cable trade.
Attached Image (click to enlarge)
Click to Enlarge Name: buy cable nov 12, entry and exit, 109 pips.JPG Size: 121 KB
  • #8,467
  • Nov 14, 2007 3:40pm Nov 14, 2007 3:40pm
Another cable showing TC pattern, hope you understand more about this awesome pattern =)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: buy entry.JPG Size: 66 KB
Click to Enlarge Name: exit, 67 pips.JPG Size: 49 KB
  • #8,468
  • Nov 14, 2007 4:22pm Nov 14, 2007 4:22pm
Quoting BIL2205
Please check the page and post number at the bottom of my post, and you will find it all there. Good luck,
Nadia.
Thank you Nadia. Dibanos
  • #8,469
  • Nov 14, 2007 7:44pm Nov 14, 2007 7:44pm
Hello all.
I'm new to this group and new to trading for that matter. I hope someone can help me with my Accuchart setting for the MACD. I read through the thread but still not able to follow the instructions posted a couple months ago. Maybe I'm using it's a newer version the charts.

My Parameters are set for:
mov1: 5
mov2: 13
Trigger: 1

I've attached the chart image (MACDforest) and the window for the chart setting. Would appreciate any help I can get. Thanks for helping a newbie!

Norris


"There is no reason anyone would want a computer in their home."
--Ken Olson, President of Digital Equipment Corp.
Attached Image (click to enlarge)
Click to Enlarge Name: MACD Settings.jpg Size: 57 KB
Attached Image
  • #8,470
  • Nov 14, 2007 8:05pm Nov 14, 2007 8:05pm
Hello Terps, insert the "Moving Average Convergence Divergence"

indicator on your chart. Go to properties and change the parameters to

5,13,1 then click "apply". Then go to "style" and change "MACD" "type" to

histogram and click "apply". The "TRIGG" type should already be a line so this

is probably all you'll have to do. And do nothing to the "OscE" it should remain as histogram. Just change them to whatever colors you

prefer.
  • #8,471
  • Nov 14, 2007 8:49pm Nov 14, 2007 8:49pm
Thanks MtnMan!!!
Oh so I had the wrong indicator. This is much better. Let the pip show begin.

Norris
  • #8,472
  • Nov 14, 2007 9:31pm Nov 14, 2007 9:31pm
Please tell me what you think about my trade.

I entered long based on price breaking through 21 then coming back to it for support. I then waited for a green canlde to form on the macd indicating a trend continue pattern.

entry at 1.4677
sl 1.4628
1st tl 1.4697 i will close 50% and move to be
2nd tl 1.715

Thanks for the critique on the trade
Attached Image (click to enlarge)
Click to Enlarge Name: eur4h.gif Size: 55 KB
  • #8,473
  • Nov 14, 2007 10:15pm Nov 14, 2007 10:15pm
Quoting JimTatum
Please tell me what you think about my trade.

I entered long based on price breaking through 21 then coming back to it for support. I then waited for a green canlde to form on the macd indicating a trend continue pattern.

entry at 1.4677
sl 1.4628
1st tl 1.4697 i will close 50% and move to be
2nd tl 1.715

Thanks for the critique on the trade

I am in this with ya, stop a little below the low, about the same as yours. Time for sleep
Keep taking CT trades, I need more money
  • #8,474
  • Nov 14, 2007 10:35pm Nov 14, 2007 10:35pm
Good trade JimTatum!
  • #8,475
  • Nov 14, 2007 10:40pm Nov 14, 2007 10:40pm
Quoting JimTatum
Please tell me what you think about my trade.

I entered long based on price breaking through 21 then coming back to it for support. I then waited for a green canlde to form on the macd indicating a trend continue pattern.

entry at 1.4677
sl 1.4628
1st tl 1.4697 i will close 50% and move to be
2nd tl 1.715

Thanks for the critique on the trade
I did almost exactly the same trade (independent of your submittal)

Reasons: TC and an engulfing candle at the 2300 est
Support: Below the 21 and the 1H 100 ema
TP: 1.4715 below R1 pivot point based on an estimate of 1.4677 at midnight.
I am only trading one lot, but intend to move SL to BE around your TP1.

Rick.
  • #8,476
  • Nov 14, 2007 11:20pm Nov 14, 2007 11:20pm
Hello New to the thread. Still in amazement at the level of teaching and helping one another. Impressive. On page 340 so far in my study.... Learning

Thoughts on this attached trade in the cable?? (first demo trade)

Rationale:

  1. Found support on the 200 day (again)
  2. Favorable Risk Reward (long entry only on a pull back, limit order 40 pips above around 2.05), stop 10 pips below 2.05. Reward to the 21ema (>100 pips).
  3. 4:00 Candle confirms Higher Low
  4. Latest low below 200 MA, however, MACD struggles with new low (divergence)

Attached Image
  • #8,477
  • Nov 14, 2007 11:41pm Nov 14, 2007 11:41pm
Although i have more of a downside anticipation with the gbp/usd, i can't help but notice this divergence!! Maybe a bounce back to the 21 or 89 before continuing down?

What do you guys think about the divergence?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp div.jpg Size: 86 KB
"The market pays you to be disciplined"
  • #8,478
  • Nov 15, 2007 12:21am Nov 15, 2007 12:21am
Quoting Ryanmcd
I am in this with ya, stop a little below the low, about the same as yours. Time for sleep
I have taken the same trade just now, was waiting for a green bar on MACD, I was waiting for this trade very long. Almost the same TP and SL, let's see how it works out, for me it's a beauty.
Attached Image (click to enlarge)
Click to Enlarge Name: 24.gif Size: 21 KB
  • #8,479
  • Nov 15, 2007 2:11am Nov 15, 2007 2:11am
Hello everyone,

i have been sitting silently on the forum learning and absorbing as much info as i can, and after many profitable paper trades i feel i am now ready to try a live trade.....so the wait for an entry point begins.

Just wanted to say hello and thank you to all the guys who are always so keen to offer assistance in learning the system.....it's been an awesome learning curve....

Matt
  • #8,480
  • Edited 4:51am Nov 15, 2007 3:10am | Edited 4:51am
Hi,

I have been going long on usd/cad

breakoutpattern triangle, price found support on ma's in almost every timeframe
although the macd was showing a lower high I entered


7:42 gmt

long 0,9631 2x -56

sl 0,9575

tp a 0,9666 +35

tp b 0,9714 +83

112:118


it took some time to mature

9:12 gmt

+10 currently

modified sl to 0,9597 2x -34


9:52 gmt

it almost reached tp a .. but then it retraced.
seems to got something to do with the 200sma
on the 1h it has support at 8ema

currently +21


10:02

currently +12

sl set to +/- 0

price at 61.8 fib level as support.
I rather get out breakeven than risk 2x -34 pips if 200ema can hold as resistance.


10:10

price has shot up to trigger tp a + 35

sl set below fib 61.8 level at 0,9638 +7


10:51 gmt

tp b triggered +83


total: + 118



I apprechiate comments and corrections



Greetings
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