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4 Hour Strategy (MACD)

  • #8,821
  • Nov 28, 2007 5:20am Nov 28, 2007 5:20am
Quoting owkenobi
Hello,

>>>EURUSD<<<

I think 1,4720/30 is a good entry point if this level will act as a resistance.
It's SMA89-H4 level and EMA21-D1 is very close (1,4695).
It is also the november 7th to 19th resistance level... probably support now.


So... now I'll wait for a MACD/Rhythm signal to go long.

See you.
I agree, it's amazing to find that price just be resistanted by 89sma, and you can find that most of RB which is below -30 from October success. wait for long signal.
Plan your trades and trade your plans
  • #8,822
  • Nov 28, 2007 5:37am Nov 28, 2007 5:37am
Quoting ejiexe
I took short @ 2.0695 at the point of the arrow and have my stop loss @ 2.0720. I don't know why I was taken out of the trade. The price turn back at 2.0717 on Northfinance platform and turn back at 2.0716 on MIG. Which can of game is this?
Well i dont see any arrow on your chart.......but if you sold at 2.0695 and set a stop to buy it back at 2.0720 your stop got hit.........barely.......you have to remember when you look at the chart and where it has been you are looking at where the sell price has been.....if the sell price made it up to 2.0717 then the buy price was higher....at least 2.0720........apparently when your chart shows it got up to 2.0717 the buy price was at 2.0721 if you have a 4 pip spread on your platform. It is really maddening when this happens.......but it was not a trick by your broker, it was just a little to close of a stop........I hate it when this happens.....pipip......Jimdandy
  • #8,823
  • Nov 28, 2007 5:58am Nov 28, 2007 5:58am
Quoting Foricks
Pips....So why do you feel that am I so drawn to the CT vs TC? As a kid (to get all Freud on you) I went to every party in town because I didn't want to miss anything. This may be the same emotions here. I'll get up off of your couch now, but would love to know your thoughts.

Ryan, Phillip, et. al., feel free to chime in.

Thanks,
Rick

Hello Rick,

If you're anything like me, you get frustrated when nothing much appears to be going on. It's like being stuck behind a slow-moving truck and you want to get past. Overtaking is fine if you can see far enough ahead, and you've checked your mirrors to be sure nothing's coming up behind. CT's are the same. They're only safe when you've had a good look and are satisfied that the way is clear wrt MA's, S & R, emotion, SL, etc. If you've done your checks and are completely sure, it's maybe worth the risk. If you haven't, be prepared for the fact that you might get hurt!

I'm still not entirely convinced about the motion of GBPUSD, so am still sitting tight. I nearly traded twice today but stopped myself both times without really knowing why, just to see price move rapidly in the opposite direction! Weird!!

Take care out there,
Rebecca,x.
May all your pips grow into great big fruitful trees
  • #8,824
  • Nov 28, 2007 6:03am Nov 28, 2007 6:03am
Quoting saka
I agree, it's amazing to find that price just be resistanted by 89sma, and you can find that most of RB which is below -30 from October success. wait for long signal.
Good point, saka. Thank you to bring it to my/our attention.
  • #8,825
  • Nov 28, 2007 6:06am Nov 28, 2007 6:06am
I posted my chart earlier for watch out the interception of the trend lines and the symmetric triangle. The price fail to break the triangle. I went long @ 2.0590 target 2.0660.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 26 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #8,826
  • Nov 28, 2007 7:09am Nov 28, 2007 7:09am
The EU and $Y put in some nice moves with the closes on the 'other side of the 21'...too bad that this human requires sleep every once in a while. But, the thing about it is, is, there will be another entry point some time in the future.

Never chase a market.
  • #8,827
  • Nov 28, 2007 7:13am Nov 28, 2007 7:13am
Quoting owkenobi
Hello,

>>>EURUSD<<<

I think 1,4720/30 is a good entry point if this level will act as a resistance.
It's SMA89-H4 level and EMA21-D1 is very close (1,4695).
It is also the november 7th to 19th resistance level... probably support now.


So... now I'll wait for a MACD/Rhythm signal to go long.

See you.
it look's good to me too, but since there's no mac signal so far i'll be waiting a little more...
  • #8,828
  • Nov 28, 2007 7:21am Nov 28, 2007 7:21am
this pair is also looking good,,,,again just waiting for the mac..
  • #8,829
  • Nov 28, 2007 7:44am Nov 28, 2007 7:44am
Quoting Palmer
The EU and $Y put in some nice moves with the closes on the 'other side of the 21'...too bad that this human requires sleep every once in a while. But, the thing about it is, is, there will be another entry point some time in the future.

Never chase a market.
Hi Palmer,
I sent you a PM .Would you please take a look at it when you get a chance.
Regards
Mike
Failure, is a wonderful teacher!
  • #8,830
  • Nov 28, 2007 7:55am Nov 28, 2007 7:55am
Quoting Palmer
The EU and $Y put in some nice moves with the closes on the 'other side of the 21'...too bad that this human requires sleep every once in a while. But, the thing about it is, is, there will be another entry point some time in the future.

Never chase a market.

lol, I was sleeping too so missed it as well. No biggie there will be more.
Keep taking CT trades, I need more money
  • #8,831
  • Nov 28, 2007 8:01am Nov 28, 2007 8:01am
I love reading this thread, I think 90% of the people go through the same thing I did when I started trading. You lose, lose some more, and then lose some more and just want 1 winner. Then you start to win and then don't want to trade because you dont want the pain of a loss. Next step is taking a lot of trades because you have had several winners so you are chasing a lot of the trade. I think this last step is where a lot of people are at right now, then if it's slow you start to make up trades to take but would not take them if you had some other action. Don't let a slow market make you trade crap setup's. Once you get over rushing trades / forcing trades then you will be able to make a good living / reduce your stress / not stare at this stuff all day long. I spend about 5min before a bar close on the 4hr looking everything over and then take a trade if it looks good. Yes you can change your time and find a trade if you "adjust" your charts enough but once you start to do that you are now trading a whole new system, and if you start losing you go back to step #1 Good luck everyone and just check the charts then walk away.
Keep taking CT trades, I need more money
  • #8,832
  • Nov 28, 2007 8:13am Nov 28, 2007 8:13am
Quoting owkenobi
Hello,

>>>EURUSD<<<

I think 1,4720/30 is a good entry point if this level will act as a resistance.
It's SMA89-H4 level and EMA21-D1 is very close (1,4695).
It is also the november 7th to 19th resistance level... probably support now.


So... now I'll wait for a MACD/Rhythm signal to go long.

See you.
Hi, owkenobi! I went long at 4716, and now just enjoy the ride, some people say it's bad to buy deeps, but I like it, it works for me 95% of times.
  • #8,833
  • Nov 28, 2007 8:24am Nov 28, 2007 8:24am
Quoting Ryanmcd
I love reading this thread, I think 90% of the people go through the same thing I did when I started trading. You lose, lose some more, and then lose some more and just want 1 winner. Then you start to win and then don't want to trade because you dont want the pain of a loss. Next step is taking a lot of trades because you have had several winners so you are chasing a lot of the trade. I think this last step is where a lot of people are at right now, then if it's slow you start to make up trades to take but would not take them if you had some other action. Don't let a slow market make you trade crap setup's. Once you get over rushing trades / forcing trades then you will be able to make a good living / reduce your stress / not stare at this stuff all day long. I spend about 5min before a bar close on the 4hr looking everything over and then take a trade if it looks good. Yes you can change your time and find a trade if you "adjust" your charts enough but once you start to do that you are now trading a whole new system, and if you start losing you go back to step #1 Good luck everyone and just check the charts then walk away.
Hi,

I love this post. A while back I had to create a daily schedule for myself (I'm trading full-time from this month),because I would go crazy just watching the monitor. The other thing that I'm used to so much is time worked=money earned. In trading that's only half true. I needed to create the schedule to force myself not to stare at the monitor the whole day and 'see' trades that didn't exist. I still have to work at that, because I created a trade this afternoon, which went sour by the way.

Anyway, I'm going to simplify things to the point where I watch the market before the candle closes and ask myself one question: "Do I like what I see?". I believe that after all the backtesting etc. I have somehow hardcoded my favorite setups into my subconscious. From now on it almost becomes 2nd nature. Let's see if I'm right.....

Regards
Werner
Phil419
  • #8,834
  • Nov 28, 2007 8:44am Nov 28, 2007 8:44am
Hi,

Is there a way to make this thread refesh automaticaly???? Or do you have to just keep hitting the refresh button??
  • #8,835
  • Nov 28, 2007 9:01am Nov 28, 2007 9:01am
Quoting Ryanmcd
lol, I was sleeping too so missed it as well. No biggie there will be more.
Well I dont feel bad now for sleeping thru it.........I was sure you made a profit on it Ryan.......After looking at my charts at midnite.... and making notes about what to look for when I stumble back to the computer at 4am..... I come back and it got in a hurry and went straight to 89........pipip.........jimdandy
  • #8,836
  • Nov 28, 2007 9:04am Nov 28, 2007 9:04am
Well I did the same thing as every one else. I missed my wake up call and there was a nice tc on the usd/jpy. The cool part about the 4x is that if you miss one train just stay at the station and you can catch another one.
  • #8,837
  • Nov 28, 2007 9:13am Nov 28, 2007 9:13am
I got up at 5 AM CST (the time of a 4 hour bar close) to watch the market. I am going to keep doing this. I can't stand being poor any longer.

I didn't take a trade though. I did not believe the move the EURUSD made was within the rules. I almost took the trade, and had I taken it, I would have made 25 pips.

Did I f' up? Or was this trade (the long on the EURUSD from this morning) not within the rules?

DAMNIT!!!!

I have missed FAR more trades than I have made.
  • #8,838
  • Nov 28, 2007 10:20am Nov 28, 2007 10:20am
Quoting alexfot
Hi, owkenobi! I went long at 4716, and now just enjoy the ride, some people say it's bad to buy deeps, but I like it, it works for me 95% of times.
Well done, alexfot. I like to "buy the deeps" / "sell the highs". At least it follow the basic rule : "buy low and sell high".
I think Phillip 4h macd system is the "ultimate" tool to accurately detect deeps and highs (Rhythm, bounce off 21 or 89, RB, RT, TC...).

See you.
  • #8,839
  • Nov 28, 2007 10:29am Nov 28, 2007 10:29am
Getting ready for a possible TC off the 21?
  • #8,840
  • Nov 28, 2007 10:33am Nov 28, 2007 10:33am
Quoting JimTatum
Hi,

Is there a way to make this thread refesh automaticaly???? Or do you have to just keep hitting the refresh button??
Here is your refresher, it's a browser, you can also have several tabs (ctrl T) and set the time you want to have the page refreshed.
www.myRefresher.com


Great thread, I love this system and I'm taking all lessons and more!
Keep it up!
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