4 Hour Strategy (MACD)

Quoting ekling

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Hello Jimdandy, i was wondering where you got that indicator showing the current time in london, tokyo etc.

And i also would like to ask someone to invite me to the skype chatroom, i left it by accident and dont know how to get back in there. I think this is the third time i ask so please, someone invite me

skypename: eklingfx

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Quoting Ryanmcd

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Guys, if you are going to use RSI or CT at this point on the 4hr I think it's VERY high risk. I CT traded for years and on the 3min it works well, on the 4hr there is a much better TRENDING market so trying to catch a bottom is going to cost you money over and over. Go over the EUR and GBP and take all the TC trades after it has bounced the 21ma and see how you do. I know I am over 90% winnners in the past 2-3 months with over 300 a month. Remember someone is always the losser in the market, don't be that guy. Be smart trade the trend or if it's a nice Round CT trade far away from the 8ma.

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Quoting Palmer

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Thanks owkenobi...


Bought the EU at 1.4650 on the bounce off the 4hr 21 per the 1hr chart.

One lot exited for 25, other left at b/e

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Quoting Bag Lady

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Hello Everyone,

This is my first ever post, ever, anywhere! So please bear with me if I get it a bit wrong!!

I have started reading the thread from the beginning and am currently at post 6781 on page 453; so only another couple of thousand posts to go!!!

I only look at Cable because I think (as many of you have pointed out throughout the thread) you cannot possibly get a feel for a pair if you look at too many. I am new to forex (1 year) and so still at the beginning of the learning curve, so, to keep it simple I'm just looking at the one pair so far. I figured cable to start since I'm a Brit and should have a bit more of a handle about what's going on fundamentally. That was the decision in the beginning but I don't know anymore about economics now than I did then! What I have looked at though is, as Philip has tried to teach us, is how the charts tell us the feelings of the market, whether it is happy or sad - how hubby dubby is feeling!!

So, this is my take so far - what does anyone think? (I haven't worked out how to get my chart inserted into the post, but it should open as an attachment - like I said, I'm a total novice!! Sorry!)

1. I see a bullish falling wedge on the 4hr chart, but obviously this is only a wedge until it becomes something else, so I will not bet my house on it yet.

2. If the wedge works out and price breaks its resistance line, it must also break the 200ma and the horizontal trendline.

3. If these lines all become support, (i.e. get broken and then tested by retracement and hold as support), the next target is the 89ma. This level also lies at the lower part of the previous inside top, and the resistance line for the current channel (not yet tested but approximate).

4. Next target will be 2.1051. This is a horizontal trendline established in Jan 1978, revisited in Jan 1979, and more recently 3 times this month (7th, 8th and 9th Nov.).

5. Next target 2.1143 - most recent high.

6. Next = 2.1420 - previous strong S & R in Jan 1979 and April 1981.

These are all to be reassessed as the chart develops, and are all subject to strength of feeling within the market; strength of S & R, and force of moves; speed determined by interaction with the ma's (especially the 8, 21, and 89).

I have not put specific entry points to go long, this will be determined by action. If the wedge breaks out violently, the reaction too it (retracement)will probably differ to a more stately, controlled breakout. Stop losses will also be determined by action as it develops.

This is really showing my thoughts on rhythm and 'life' within the cable charts. I have an alternative 'short' scenario if the wedge faiols and the price moves into a consolidation channel between the 365 and 200. My post is far too long already though so I won't go into that. Please give me some feedback about my chart interpretation and whether you feel I may be able to do something positive with it? I am truly sorry for rambling, will go now! Thanks,x.

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