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4 Hour Strategy (MACD)

  • #9,641
  • Dec 18, 2007 9:51am Dec 18, 2007 9:51am
here is the euro trade i did. maybe i was trying to get in too early , but the trade did not work out,4 hour had not confirm yet so i switch to 1 hour in anticipation of an Trend continuation Here is the one hour chart of euro where i enter on teh bearish candle closing below 21. the 1st arrow is the entry in anticipation of a TC on 4 hour 8Ema. the second arrow is the stop loss that was hit. Entry was 1.4379/ Stop loss was 1.4429( strong resistance at 1.4417 so few pips above it). Now euro is going down again. i will analyze it more where i went wrong and post it later in the day.
You win some you lose , what are u gonna do, learn and move on.
Nadia
Attached Image (click to enlarge)
Click to Enlarge Name: euro 1 hour entry gone wrong.jpg Size: 194 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #9,642
  • Dec 18, 2007 9:55am Dec 18, 2007 9:55am
The trade as it developed today
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Click to Enlarge Name: GbpUsd 1.GIF Size: 54 KB
  • #9,643
  • Dec 18, 2007 10:40am Dec 18, 2007 10:40am
PhilNel, PhilOpinion, Bil2205 is there an up to date version of the indicators and template so i can simply download them to have white background screens that look like yours.

Thanks in advance for any help.
  • #9,644
  • Dec 18, 2007 10:44am Dec 18, 2007 10:44am
Quoting Delta
Hi,

I checked these lessons 1 to 13 from page 290 with these zip files page 395 and 396 and there is no tapescript for:

L4 Price Motions 2 / page 290 post 4340

Could you please add this tapescripts? (or maybe it is somewhere and I don't see it).

Thanks.
Thank you, Delta. You're correct. I also checked my own files and could not find a written copy, so I'll get one out soon.
  • #9,645
  • Dec 18, 2007 11:08am Dec 18, 2007 11:08am
Quoting Phillip Nel
If this info is causing confusion or are not clear please let me know as soon as possible so that I can remove it. I wont take it negative. You can send Private Message as to not use space here with the replies. Thanks. I dont want people to be confused. This is a bit advanced and take a lot of emotion convincing to take a trade that is actually moving the wrong way.
Thanks
Phillip
actually i just want to say thx to ur great system,posts,helps and everything
  • #9,646
  • Dec 18, 2007 11:14am Dec 18, 2007 11:14am
Quoting BIL2205
here is the euro trade i did. maybe i was trying to get in too early , but the trade did not work out,4 hour had not confirm yet so i switch to 1 hour in anticipation of an Trend continuation Here is the one hour chart of euro where i enter on teh bearish candle closing below 21. the 1st arrow is the entry in anticipation of a TC on 4 hour 8Ema. the second arrow is the stop loss that was hit. Entry was 1.4379/ Stop loss was 1.4429( strong resistance at 1.4417 so few pips above it). Now euro is going down again. i will analyze it more where i went wrong and post it later in the day.
You win some you lose , what are u gonna do, learn and move on.
Nadia
Nadia, I have taken a loss today too, but on G/U. If you look at my chart I entered on the MACD TC. My SL was hit and now price moves back down again. I know excactly what was my problem, the SL was too big, and R:R was bad. So I made my stop not so big and paid for it . I am mad with myself not about loss, but only yesterday Phillip taught us a wonderful technique, where were my ears???
As for your trade, the only thing I can see that it was an early entry and that is risky in itself.

Did anyone take Head and Sholders on U/J?
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  • #9,647
  • Dec 18, 2007 11:41am Dec 18, 2007 11:41am
sorry for posting the copy that late, I've had some trouble yesterday
Attached File(s)
File Type: doc written copy of eurusd 17 dec 07.doc   24 KB | 737 downloads
  • #9,648
  • Dec 18, 2007 11:49am Dec 18, 2007 11:49am
Quoting OldDog
Thank you, Delta. You're correct. I also checked my own files and could not find a written copy, so I'll get one out soon.
Strange, I thought we did all , but I don't remember already.
  • #9,649
  • Dec 18, 2007 11:59am Dec 18, 2007 11:59am
Quoting ira
Strange, I thought we did all , but I don't remember already.
I also found some other mp3 files (not from lessons) that don't have written copies.
I will post them later. I would like to read all these written copies to master this strategy, so I hope someone who translate these mp3 could do this.

Great thanks to people doing this job!
  • #9,650
  • Dec 18, 2007 12:12pm Dec 18, 2007 12:12pm
Hi ira, yeah we win and lose in trading , as long as we keep our losses minimum and learn from mistakes, i have a feeliing that pdf is somewhere . maybe it was typed with part one of market motion. HMMM ,
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #9,651
  • Dec 18, 2007 12:27pm Dec 18, 2007 12:27pm
Hi,

All the transcripts are posted, pretty sure. Saka said he got them all, and I think Palmer has them all on his website for this method.

But...I happen to have lesson 4 on my harddrive....so here it is.....

As for asking for translations that haven't been done from way back when....Yikes! That really is a lot of work (OK...for me it was really hard to translate the lessons...took a long time!, and you can pretty much get the info from the pdf.'s and posts on the forum.

OK...Here is the lesson. You should also check out the 4 hour website (see palmer's signature for address). It has all this info in 1 place and special bonuses too!! Happy trading!
Attached File(s)
File Type: pdf L4 Market%20rythem MP3 transcript.pdf   13 KB | 1,343 downloads
  • #9,652
  • Dec 18, 2007 12:38pm Dec 18, 2007 12:38pm
Quoting pips4uandme
Hi,

All the transcripts are posted, pretty sure. Saka said he got them all, and I think Palmer has them all on his website for this method.

But...I happen to have lesson 4 on my harddrive....so here it is.....

As for asking for translations that haven't been done from way back when....Yikes! That really is a lot of work (OK...for me it was really hard to translate the lessons...took a long time!, and you can pretty much get the info from the pdf.'s and posts on the forum.

OK...Here is the lesson. You should also check out the 4 hour website (see palmer's signature for address). It has all this info in 1 place and special bonuses too!! Happy trading!

This pdf you gave is a written copy to lesson: L4 Market Rhytm Part 1.
But I can't see written copy of: L4 Price Motion 2.
  • #9,653
  • Dec 18, 2007 1:11pm Dec 18, 2007 1:11pm
Well, my work wasn't for nothing after all! People who want to refer to the original can find it on page 290, as Delta said, post 4340.
Attached File(s)
File Type: doc PhillipNel Lesson4 PriceMotion2 Post 4340.doc   7 KB | 1,556 downloads
  • #9,654
  • Dec 18, 2007 1:21pm Dec 18, 2007 1:21pm
Quoting OldDog
Well, my work wasn't for nothing after all! People who want to refer to the original can find it on page 290, as Delta said, post 4340.
Well done while i was looking for it you typed it up!!, we can all use it as a reminder / refresher course. thanks !!!!
Nadia
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #9,655
  • Dec 18, 2007 1:35pm Dec 18, 2007 1:35pm
Thoughts on today...

I got lucky, I scalped the EURUSD for 13 pips. Once the EURUSD passed its previous resistence, I thought with the US housing report that it might take off to the 89 MA. It did not do as I expected and it came down to my stop loss (that I moved forward) for a 13 pip gain.

Luck. I don't like winning trades with luck, it almost feels like a loss.

Okay, looking at the pairs I follow:


USDJPY - It showed a long on the MACD but it was up at previous resistence. I passed on this trade, and so far I made the right choice. The pair looks to be in indecision and might stay there until the JPY bank announcement on Wednesday late night/early Thursday morning. I might try to scalp when the market takes off in one direction or another, but no good trade here at this current time.


GBPUSD - Nice head and shoulders on the 4H (as pointed out here, thank you!) and it is tempting to go long. There is a red flag on the GBP for tomorrow, and I believe this pair will sit in indecision until the announcement from the bank. I am tempted to scalp either long or short off of this announcement. I have a long trend line AND a 38.2 Fib line that appear to be resistence over the last few days. I may set a long limit trade if this barrier is broken tomorrow morning. No good trade to hold, though.


EURUSD - Almost the exact same as the GBPUSD. EUR red flag tomorrow morning. No good trade. Indecision. I may look to scalp this pair as well.


USDCHF - What in the world is this pair doing? It is FLAT. There was a red flag on the CHF today and an orange flag on the USD, and this pair has done next to nothing. If I was to guess, it is going down. But I don't trade on guesses. It is slowly following a trend line nicely, but the MACD keeps coming down. I expect a big break out, but who knows when or which way.


USDCAD - It is up big, it is down big, it looks to find support and breaks through. What in the world? This pair is every where, with it appears no reasoning behind it (though I am sure there is some fundamental reason). There are two red flags on Friday morning for the CAD. Might be a scalping opportunity before the holiday week. But for the time being, I am just going to sit back and watch this roller coaster.


EURGBP - I need to follow a pair that does not include the USD. So when the USD gets out of hand, I can find a place to look to trade. The pair looks to nicely be between the 89 and the 200 MA. I may look for a short off of the 89 MA, if I feel comfortable with it, at the time (might look for the 89 to hold as resistence for at least one 4 hour bar before entering).


Been a wild month. I have learned A LOT though, a big thank you to everyone on this thread. I no longer get nervous before trades, because I follow the rules and if it goes wrong, then it just goes wrong, but I will learn from the mistake I made.

Is anyone else going to look to scalp the E/U or the G/U following the early red flags tomorrow?
  • #9,656
  • Dec 18, 2007 1:37pm Dec 18, 2007 1:37pm
Quoting Delta
This pdf you gave is a written copy to lesson: L4 Market Rhytm Part 1.
But I can't see written copy of: L4 Price Motion 2.
Ooppps...

Thank goodness for Old Dog!
  • #9,657
  • Dec 18, 2007 1:50pm Dec 18, 2007 1:50pm
Quoting wilczek
PhilNel, PhilOpinion, Bil2205 is there an up to date version of the indicators and template so i can simply download them to have white background screens that look like yours.

Thanks in advance for any help.
Wilczek, as far as I know, there is nothing available like you are asking for. What you can do is the following, and it really isn't very difficult:

Right click on one of your charts and select "properties" at the bottom of the pop up menu. There, you will see a lot of options for the color of the background, the candles, etc. Work with them until the example shown is the way you want it, and then apply it to the chart you clicked on. Once you have one chart the way you want it, click on "templates" and save the new set up with the name you want to give it. Once you've done that, you can go to any chart, click on the template icon, and select the name you chose to apply the same color scheme to it. Best of luck!
  • #9,658
  • Dec 18, 2007 1:59pm Dec 18, 2007 1:59pm
Quoting OldDog
Well, my work wasn't for nothing after all! People who want to refer to the original can find it on page 290, as Delta said, post 4340.
Wow, great job, thanks. now we've got all lessons in written copy.

I don't know if I could post some of the mp3 from this thread that don't have the written copies. I think that some of them are also important.
Maybe some could transalete them or at least these most important?

Thanks.
  • #9,659
  • Dec 18, 2007 2:10pm Dec 18, 2007 2:10pm
Quoting unlv_tj
Thoughts on today...

I got lucky, I scalped the EURUSD for 13 pips. Once the EURUSD passed its previous resistence, I thought with the US housing report that it might take off to the 89 MA. It did not do as I expected and it came down to my stop loss (that I moved forward) for a 13 pip gain. Why do you think this was luck? I've been watching this pair all night (Yikes!) and favoured longs -- I like the 1 hour pattern -- looked like a "W" bottom on my chart, and price has held pretty tight...also I like the MA's on the 4 (specifically, the 8 is hooking early and the 21 hasn't crossed). I do agree the trade was risky, but I really did consider a long earlier...Question...why did you think the 89 would be the target? We have the 365 and the 21 in the way first? I didn't take the trade b/c the flag hadn't been broken yet (but I really did consider scalping a long off it earlier this morning).

Luck. I don't like winning trades with luck, it almost feels like a loss. OK, if you didn't have the trade planned, you are right. The trade was lucky and that isn't good. I always like pips in my account -- but impulsive pips are dangerous.

Okay, looking at the pairs I follow:


USDJPY - It showed a long on the MACD but it was up at previous resistence. I passed on this trade, and so far I made the right choice. The pair looks to be in indecision and might stay there until the JPY bank announcement on Wednesday late night/early Thursday morning. This is very very common w/yen before rate announcement ...all the pairs will lock up into a tight little triangle....good move to avoid for now....hmmm...interesting tho' that they didn't sell off hard before hand (that is pretty common too)...is it rate night? I must go take a lookie look I might try to scalp when the market takes off in one direction or another, but no good trade here at this current time.


GBPUSD - Nice head and shoulders on the 4H (as pointed out here, thank you!) and it is tempting to go long. There is a red flag on the GBP for tomorrow, and I believe this pair will sit in indecision until the announcement from the bank. Yes, the minutes will determine the longer term direction for this pair. All going to depend on the voting split. I always get stung on minute day -- so I'll follow your lead and wait for the market to tell me what to do (too bad I have a long open now -- hopefully it will close out this afternoon -- LOL!)I am tempted to scalp either long or short off of this announcement. I have a long trend line AND a 38.2 Fib line that appear to be resistence over the last few days. I may set a long limit trade if this barrier is broken tomorrow morning. Be careful the barrier doesn't break before the minutes than fall if the vote for the last rate cut wasn't split by many votes. No good trade to hold, though.


EURUSD - Almost the exact same as the GBPUSD. EUR red flag tomorrow morning. No good trade. Indecision. I may look to scalp this pair as well.


USDCHF - What in the world is this pair doing? It is FLAT. There was a red flag on the CHF today and an orange flag on the USD, and this pair has done next to nothing. If I was to guess, it is going down. But I don't trade on guesses. It is slowly following a trend line nicely, but the MACD keeps coming down. I expect a big break out, but who knows when or which way. This is the most interesting thing w/Swissy (it is so weird)...It will react more on Euro news than red flag events from its nation (exception is rate cut/increase)....It has also been following the rhythm nicely lately, and has just "broken" out -- That triple top is interesting tho'....(earlier, it supported your long for E/U too).


USDCAD - It is up big, it is down big, it looks to find support and breaks through. What in the world? This pair is every where, with it appears no reasoning behind it (though I am sure there is some fundamental reason). I hate this pair!!! It is all over the place b/c Oil prices are all over the place today -- Option Expiry Tuesday. The Loonie just stinks, imho (it gives a lot of false CT signals, so beware).There are two red flags on Friday morning for the CAD. Might be a scalping opportunity before the holiday week. Have you really found this pair to be a good pair to scalp? I'm interested, because I have such a negative perception of the pair. But for the time being, I am just going to sit back and watch this roller coaster.


EURGBP - I need to follow a pair that does not include the USD. So when the USD gets out of hand, I can find a place to look to trade. The pair looks to nicely be between the 89 and the 200 MA. I may look for a short off of the 89 MA, if I feel comfortable with it, at the time (might look for the 89 to hold as resistence for at least one 4 hour bar before entering). Tomorrow's MPC meeting minutes should affect this pair too.


Been a wild month. I have learned A LOT though, a big thank you to everyone on this thread. I no longer get nervous before trades, because I follow the rules and if it goes wrong, then it just goes wrong, but I will learn from the mistake I made. Great Job!! Keep up the Fantastic work. It has been really obvious how much you have grown over the last few weeks!! (Have said it before, but you deserve to hear how great you are doing). These posts of your thoughts are really super too! I'll stop marking them all up, but I really wanted to say Great Job, one more time!

Is anyone else going to look to scalp the E/U or the G/U following the early red flags tomorrow?
Can't answer that -- have to have a setup to scalp. If it presents itself, yup -- G/U for sure if the opportunity arises. If not...then I'm OK. This time of year, the market can act a bit funny...

Good Luck & Good Trading! Wishing you many pips for your account,
Pips
  • #9,660
  • Dec 18, 2007 2:12pm Dec 18, 2007 2:12pm
Quoting Delta
Wow, great job, thanks. now we've got all lessons in written copy.

I don't know if I could post some of the mp3 from this thread that don't have the written copies. I think that some of them are also important.
Maybe some could transalete them or at least these most important?

Thanks.
Delta, it would be a good service for you to post the location of any of Phillip's mp3's that you think need copying. I will take note of them and copy them from time to time.
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