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4 Hour Strategy (MACD)

  • #9,261
  • Dec 9, 2007 8:49pm Dec 9, 2007 8:49pm
Quoting Ryanmcd
EUR/USD looks short. Going to get in at the close of this bar if it sets up right.
USD/CHF maybe but it has resistance close, BUT you can run a tight stop if you use the last 5 bars for a stop like I do.
I agree with you. And there are some nice fib levels for stops and targets.
  • #9,262
  • Dec 9, 2007 8:49pm Dec 9, 2007 8:49pm
Hey, What are the thoughts on this chart 4hr bar closing in 10 min.
looks like motion is correct bounce off 21. It is with the trend, price below 89 idicating down motion. What are thought on entering short at close of 4hr bar?
Attached Image (click to enlarge)
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  • #9,263
  • Dec 9, 2007 8:56pm Dec 9, 2007 8:56pm
Tough call JimTatum. Ryan called the same short.

Are you thinking short down to the 200 MA?

I might sit this one out. I can't see a short yet, and I still think long is possible.
  • #9,264
  • Dec 9, 2007 8:59pm Dec 9, 2007 8:59pm
Quoting unlv_tj
Tough call JimTatum. Ryan called the same short.

Are you thinking short down to the 200 MA?

I might sit this one out. I can't see a short yet, and I still think long is possible.
Yes target would be 200 sma

Ryan, are your charts showing a red macd tc pattern like mine???
  • #9,265
  • Dec 9, 2007 9:28pm Dec 9, 2007 9:28pm
EUR/USD
looking at the charts I agree with ryan on the euro being a short, but the MACD does not back it up, resistence on the 21 in a down trend, confirming new pathway down. the currnt PA is breaking the minor up move. but right now resisitence is becoming a minor support. which is also the 8ema. unless it really breaks down by this candles end, i will sit it out pa is not very convincing right now.

USD/CHF
trend still going, minor retrace to the 21ema, bounced off it. MACD ok but it looks stretched, a lager bar will confirm a trend continue 200 is the first target.
Pa has some very strong resistance at the yellow line, that also is forming a bullish continuation pattern, break out need to confirm it.

I like the usd/chf more as the MACD is stronger and shows more push then the euro. want to see a strong trigger bar on the MACD to really confirm it. (both pairs)
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdchf.jpg Size: 276 KB
  • #9,266
  • Edited 9:50pm Dec 9, 2007 9:30pm | Edited 9:50pm
Quoting JimTatum
Yes target would be 200 sma

Ryan, are your charts showing a red macd tc pattern like mine???
Mine does show red 00:00 candle. 200 too close for a good R:R, however, it didn't provide much resistance on 12/6. Plenty of room to my trend line.

Took the short SL 1.4674, first tp at 30 pips, second at 60, rest let run (3 orders)

Will move to BE if/when the first TP is hit.

Waiting for possible TC on the yen (long)....
Attached Image
  • #9,267
  • Dec 9, 2007 9:38pm Dec 9, 2007 9:38pm
Quoting >Apocalypto<
EUR/USD
looking at the charts I agree with ryan on the euro being a short, but the MACD does not back it up, resistence on the 21 in a down trend, confirming new pathway down. the currnt PA is breaking the minor up move. but right now resisitence is becoming a minor support. which is also the 8ema. unless it really breaks down by this candles end, i will sit it out pa is not very convincing right now.

USD/CHF
trend still going, minor retrace to the 21ema, bounced off it. MACD ok but it looks stretched, a lager bar will confirm a trend continue 200 is the first target.
Pa has some very strong resistance at the yellow line, that also is forming a bullish continuation pattern, break out need to confirm it.

I like the usd/chf more as the MACD is stronger and shows more push then the euro. want to see a strong trigger bar on the MACD to really confirm it. (both pairs)
What is PA????
  • #9,268
  • Dec 9, 2007 9:46pm Dec 9, 2007 9:46pm
Quoting trader_scott
Do you run your stop off the 4 hour or step down to the 1 hour or so?

I just eye the stoploss, a little below the lowest low or highest high depends on long or short.
Keep taking CT trades, I need more money
  • #9,269
  • Dec 9, 2007 10:01pm Dec 9, 2007 10:01pm
Quoting JimTatum
What is PA????
PA = price action.

cheers
  • #9,270
  • Dec 9, 2007 11:34pm Dec 9, 2007 11:34pm
Quoting Ryanmcd
I just eye the stoploss, a little below the lowest low or highest high depends on long or short.
That's usually what I do unless it's a large bar. Was just wondering if you had some special way. Thx
  • #9,271
  • Edited Dec 10, 2007 7:33am Dec 9, 2007 11:41pm | Edited Dec 10, 2007 7:33am
bought usd/chf

entry @ 1.1302
stop @ 1.1269
t1 @1.1340
t2 @ will trail if t1 is hit

**got stopped out.
  • #9,272
  • Dec 9, 2007 11:57pm Dec 9, 2007 11:57pm
I have to wonder if any of you are looking at the GBPUSD to go long early this week. Looks to be a lot of emotion building, hit a trend line I drew and has slowly come up since the low point last week. Also looks to be a pinbar on the daily last Thursday.

Thoughts?
  • #9,273
  • Dec 10, 2007 12:05am Dec 10, 2007 12:05am
fed up with this lagging and misleading macd
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  • #9,274
  • Edited 12:53am Dec 10, 2007 12:45am | Edited 12:53am
Quoting FxTex
Looks like a their may be a RB forming on usd/cad

Hi, I'm not trading the USD/CAD, but remember what the rule says - when the price closes below 21, it should go and test it again and then it may go to the 89. So, be aware of this and the market rhythm, look at your chart once again and see what is happening.
  • #9,275
  • Dec 10, 2007 12:52am Dec 10, 2007 12:52am
Quoting kenari05
fed up with this lagging and misleading macd
Nobody here is trading purely on MACD, it only tells us when to pull the trigger. It looks like you didn't read the thread, in this case I don't understand why to make a call like this. If you know the rules of the market rhythm - you can trade purely on it, and it's the core of the system, MACD is here only works as a filter, it is lagging sometimes, right, but it also helps you to stay out of the bad trades.
So, please work throught the lessons, through the thread, and then if you have questions we are here to help you. If you are not ready to put some work at it, don't bother people here with statments like this.
  • #9,276
  • Dec 10, 2007 1:01am Dec 10, 2007 1:01am
Quoting unlv_tj
I have to wonder if any of you are looking at the GBPUSD to go long early this week. Looks to be a lot of emotion building, hit a trend line I drew and has slowly come up since the low point last week. Also looks to be a pinbar on the daily last Thursday.

Thoughts?
I agree that G/U looks very tempting for long, especially on daily. But on the 4h we are still below 89, which indicates a down trend, although the MACD all the way up, I think we are in consolidation phase.
IIMHO the signal is old and the 1TP should be 21, while the SL must be somewhere below TL, so R:R= is not OK. Let's wait for the price to tell us what to do.
But don't let me influence your plan, if you have one. Remember only your plan matters, I can go short, you can go long and we both can be right and win.
  • #9,277
  • Dec 10, 2007 3:23am Dec 10, 2007 3:23am
Quoting ira
Nobody here is trading purely on MACD, it only tells us when to pull the trigger. It looks like you didn't read the thread, in this case I don't understand why to make a call like this. If you know the rules of the market rhythm - you can trade purely on it, and it's the core of the system, MACD is here only works as a filter, it is lagging sometimes, right, but it also helps you to stay out of the bad trades.
So, please work throught the lessons, through the thread, and then if you have questions we are here to help you. If you are not ready to put some work at it, don't bother people here with statments like this.
Hi IRA

could you tell me again what the rules of the market rythm are?
or maybe Phil could post his document again?

Thx Till
  • #9,278
  • Dec 10, 2007 3:27am Dec 10, 2007 3:27am
Quoting RemingtonTJ
Hi IRA

could you tell me again what the rules of the market rythm are?
or maybe Phil could post his document again?

Thx Till
Hi
I found the pdf but there's no explanation
  • #9,279
  • Dec 10, 2007 3:44am Dec 10, 2007 3:44am
Quoting RemingtonTJ
Hi
I found the pdf but there's no explanation

4H MACD PRICE MOVEMENT RULES

Rule number:

1. Your focus should be around the price movement in relations to:
1.1 MA, trendlines, support and resistance levels and big numbers.
1.2 Then look for the MACD to confirm signals.

2. Homework on price movement should have been done before looking at the MACD signal

3. Don’t take every MACD signal.

4. Don’t jump around ten pairs.
4.1 Stay with the minimum and keep track of their price movement (as stipulated in Rule 9-11)

5. Look at market emotions – candle formation at critical points on the chart will show emotions in the market

6. Wait for playing ground to be removed so that the market can get rhythm and definite direction

7. Go with the rhythm and trend of the pair.

8. Counter trend trade only when:
8.1 Near major Trend, Resistance and Support lines
8.2 RR is 1:1 or better
8.3 Towards the 21MA as profit target

9. When price break through the 89MA, it tends to move back to 21MA and then it moves on in that direction.

10. When price breaks through the 200SMA, it moves back to it before moving on.

11. When price breaks back through the 21MA it comes back to 21MA and then move on to the 89MA
  • #9,280
  • Dec 10, 2007 3:52am Dec 10, 2007 3:52am
Quoting Pipsi cola
4H MACD PRICE MOVEMENT RULES

Rule number:

1. Your focus should be around the price movement in relations to:
1.1 MA, trendlines, support and resistance levels and big numbers.
1.2 Then look for the MACD to confirm signals.

2. Homework on price movement should have been done before looking at the MACD signal

3. Don’t take every MACD signal.

4. Don’t jump around ten pairs.
4.1 Stay with the minimum and keep track of their price movement (as stipulated in Rule 9-11)

5. Look at market emotions – candle formation at critical points on the chart will show emotions in the market

6. Wait for playing ground to be removed so that the market can get rhythm and definite direction

7. Go with the rhythm and trend of the pair.

8. Counter trend trade only when:
8.1 Near major Trend, Resistance and Support lines
8.2 RR is 1:1 or better
8.3 Towards the 21MA as profit target

9. When price break through the 89MA, it tends to move back to 21MA and then it moves on in that direction.

10. When price breaks through the 200SMA, it moves back to it before moving on.

11. When price breaks back through the 21MA it comes back to 21MA and then move on to the 89MA
Great Thx a lot
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