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4 Hour Strategy (MACD)

  • #9,661
  • Dec 18, 2007 2:13pm Dec 18, 2007 2:13pm
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.
.
Attached File(s)
File Type: tpl 1_forum.tpl   3 KB | 765 downloads
  • #9,662
  • Dec 18, 2007 2:29pm Dec 18, 2007 2:29pm
Pips4, if you don't watch out, you might become my favorite poster on this entire forum. I can count on a great response from you.

On the EURUSD trade I made, I put in a typo. I meant to say I expected the pair to go to the 365 MA. Got ahead of myself there. It did not do it, and had I not been at home during the peak, I would have gained nothing. I take no pride in this trade, what so ever.

JPY has a red flag for Thursday morning, time is not known. So I bet the USDJPY sits until after this meeting.

Good call on not getting too ancy on following the break BEFORE the GBP annouces. The time is listed as 3:30 AM my time. So I will try to get out of bed in time to watch this trade set up.

I did not know that the Swissy follows the EUR nearly as much as it's own countries decisions. Thank you for that tid bit. It is stored in memory.

Regarding the Looney...

"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)...

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."

Really? It is great to get information like this from longer term traders. To be honest, I have had little to no luck with the USDCAD, but I chalked it up to inexperience and just a bad month over all.

Maybe I should ditch the USDCAD in favor of the EURGBP?

Thank you so much Pips4!
  • #9,663
  • Dec 18, 2007 3:01pm Dec 18, 2007 3:01pm
Quoting OldDog
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.

Yes of course i will give the locations. I only wanted to ask if i can do this.
I'm new here so I don't want to do any problems.

So here're the mp3:

4Hour and 1Hour Supporting Signals.zip /page 271; post 4063
4Hour and 1Hour Supporting Signals.zip /page 271; post 4064
Range Bound Rhythm.zip /page 304; post 4549
Breaking down Motion from Monthly to 4Hour.zip /page 304; post 4551
Breaking down Motion from Monthly to 4Hour GbpUsd.zip /page 304; post 4552
Not to be wiped out early.zip /page 328; post 4911
Normal retracement strategy.zip /page 344; post 5155
Pulling the Trigger.zip /page 376; post 5627
Emotional Triggers.zip /page 376; post 5629
1Hour Strategy.zip /page 386; post 5789
1Hour Supporting 4Hour.zip /page 386; post 5790
1Hour Strategy 1.zip /page 386; post 5790
1Hour Trendcontinue Patterns 2.zip /page 386; post 5790
  • #9,664
  • Dec 18, 2007 5:30pm Dec 18, 2007 5:30pm
Quoting BIL2205
Hey Palmer i was up and awake ans still am since 2 am, did see the UJ BUT the resistance was not broken and the previous 2 attempts kind of kept me out, alos the recent mp3 of phillip wiht the 3 tops on USD?CAD trade kept me thinking if i should get in or not, so stayed out, Hope u made pips onthat one,
Nadia
Yup...that triple top looks tough. I just decided to enter on the 1hr since the 4hr was testing the 21 again. Still holding one at b/e, float at about + 40...
  • #9,665
  • Dec 18, 2007 6:14pm Dec 18, 2007 6:14pm
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
Phillip:

Nice visual on the reasoning...

It's great to see this thread bringing in new faces every week. Phillip has done a great deal of work getting all of us in line with his teachings. This of course takes some time to digest. For those new faces: Trading on the 1 hour for entries in the 4 hour direction takes a little more getting use to. I tend to be a little aggressive on the 1 hour entries when the 4 hr is testing the 21 ema. There are several 'things' I look for, wait for...before entry. These are learned in time after you have the 4 hour principles down. Don't get discouraged when there are some posts about the 1hr charts entries and you feel lost because there is no full blown .pdf file for trading the 1 hour charts. This all comes together in time when you see the bigger picture, and you will, with patience. Study the historical 4 hr charts and remember that there is a lot more to the method than just the MACD histogram. The Rhythm of the market is the key..What is price doing with the moving averages, support/resistance, channels....See this on the charts, then look at the MACD. It will fall into place. A lot of use are here to help so don't hesitate to ask...
  • #9,666
  • Dec 18, 2007 10:42pm Dec 18, 2007 10:42pm
I think a lot of the pairs are consolidating right now. The EURUSD could go either way. Momentum is gaining steam for this pair.

The USDJPY is consolidating in a nice box play.

In the AUDUSD, I think this is a sloppy bearish flag.

I think the GBPUSD looks like it is waiting to fall down more. The 8 ema is acting as resistance.

NZDUSD is having a hard time getting past .7585. I would look for it to fall as well.

Once again the theme of consolidation for the USDCHF. Could be another bearish flag. It is having a hard time passing the 1.1527 level. I look for it to fall to the 1.1480 area.

Does anyone else agree or disagree?
  • #9,667
  • Dec 18, 2007 10:53pm Dec 18, 2007 10:53pm
Whew had a few days away from the thread and had 10 pages to read when i came back........where to start.....
First of all a few days ago when the usdcad gave a tc that went the wrong way.....i did not take it for two reasons.....the first being that i got no tc....my charts are on gmt and i got no tc.....and i was expecting it to fall any way because of that divergence on the Macd..... easy to see in hindsight....in fact if you look at my chart and the huge evening star on the 4hr it was a no brainer to try a short trade....now if i had only been awake for it.....
Secondly .....Philip....dont hesitate to post the more "complex" trade setups....you underestimate how well you have trained us....you have spoonfed us the "milk" for many, many, months.......all those that have done their homework are ready for some "meat" those that are not ready are more inclined to do their homework so as not to be lost.......way to teach......at some point you do have to push the birds out of the nest and make them fly on their own......its better that we know how to handle a trade when "flying" conditions are a bit harsh......
Thirdly December is hard to trade....alot of the BIG traders simply take off in December.....if you can trade successfully in this climate you can trade anytime.....Its hard to trade a system based on a 4 hr signal when the market wont go in one direction for 8 hours!.....So ive been honing my smaller tf skills......
Hope all are safe and sensible during the holidays and are all back here next year to learn and share some more winners and losers....pipip..JimDandy
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  • #9,668
  • Dec 18, 2007 10:58pm Dec 18, 2007 10:58pm
Hello Friends,
I have a question regarding Post #9587(Phillip
Stoploss spread).

In that post Phillip says: "You can see price has
found support on the 38.2,so you are not going reach
...."

and then he says:" ...You've entered 2 mini lots at the
38.2 and you wait......"

Here is my question:
When we see the price has found support on the 38.2
then we already missed the entry.DON'T FORGET the 38.2
is not our first entry,it is our third one.

The best way to understand my question is imagine
yourself in that trade which you don't know price is
gonna bounce back from 38.2.
you are waiting for the price to go threw 38.2 toward
50 & 61.8 but it bounce off 38.2 and you get that
small green candle, SO how could we've entered at
38.2?

Please advise.

Regards
Mike
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Failure, is a wonderful teacher!
  • #9,669
  • Dec 18, 2007 11:02pm Dec 18, 2007 11:02pm
[quote=Delta;1765581]Yes of course i will give the locations. I only wanted to ask if i can do this.
I'm new here so I don't want to do any problems.

So here're the mp3:

Thank you Delta. I've copied your list and will check them out and make copies as I find the time to do so.
  • #9,670
  • Dec 18, 2007 11:56pm Dec 18, 2007 11:56pm
Quoting mike1349
Hello Friends,
I have a question regarding Post #9587(Phillip
Stoploss spread).

In that post Phillip says: "You can see price has
found support on the 38.2,so you are not going reach
...."

and then he says:" ...You've entered 2 mini lots at the
38.2 and you wait......"

Here is my question:
When we see the price has found support on the 38.2
then we already missed the entry.DON'T FORGET the 38.2
is not our first entry,it is our third one.

The best way to understand my question is imagine
yourself in that trade which you don't know price is
gonna bounce back from 38.2.
you are waiting for the price to go threw 38.2 toward
50 & 61.8 but it bounce off 38.2 and you get that
small green candle, SO how could we've entered at
38.2?

Please advise.

Regards
Mike
In your scenario you wouldn't be able to enter at 38.2, but you could enter at the 0 level on the way back up. The whole key of waiting for 61.8 is to keep your stop loss small. If you bought right away at zero you run the risk of the trade retracing the large bar all the way. Depending on how aggressive you are you could enter at 0, 38.2, .50, etc. If you are less aggressive you could wait for 61.8, and then add as the trade moves in your favor at the different levels.
  • #9,671
  • Dec 19, 2007 12:50am Dec 19, 2007 12:50am
Hello, I usually don’t post to this forum because I feel I’m still in the newbie stages of trading. I’ve been following this tread for awhile & have had great results with it. I’d like to thank Phil & all other great contributors; your info has been great.
I was hoping to get your option of this EJ set up. To me it looks ripe for a good move up or down. I like it when a pair does a consolidation around the MA’s, which usually forms a symmetrical triangle (as it’s doing here)
The 4hr chart isn’t giving a defiant pattern other than a possible rejection or break off the 0 value. The long term outlook & fibo's of this pair would suggest a bullish move.
I have had good luck using the 4hr as my set up chart & then take it down to a 30min chart for my exact entry point. So I’m personally going to wait & see if there is a strong break above or below the triangle. I’d like other have to say about this set up. Thanks
Attached Image (click to enlarge)
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"Trading is a Journey, not a Destination"
  • #9,672
  • Dec 19, 2007 1:13am Dec 19, 2007 1:13am
i went short on eurusd after h4 signal.any idea?
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  • #9,673
  • Dec 19, 2007 2:26am Dec 19, 2007 2:26am
Phil,

Thanks for the template - chart looks good however it doesnt include the MACD at all. Sorry to be a pain !
  • #9,674
  • Dec 19, 2007 3:56am Dec 19, 2007 3:56am
Quoting unlv_tj
Regarding the Looney...

"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)...

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."

Really? It is great to get information like this from longer term traders. To be honest, I have had little to no luck with the USDCAD, but I chalked it up to inexperience and just a bad month over all.

Maybe I should ditch the USDCAD in favor of the EURGBP?

Thank you so much Pips4!
Personally, I love the Loonie when it is in a rhythm. I took the Peter Bain course when I started and he couldn't shut up about the pair :, so I learned a lot about the yin and yang between the two currencies as well as the fundamentals' symbiosis. When it runs, it really is a lot of fun playing some really obvious CT's. This pair is my best performer right now. That being said, I am going to sit on my hands and wait for it to find the rhythm. A 90 minute catnap before work sounds even more tasty...
Frick
  • #9,675
  • Dec 19, 2007 4:37am Dec 19, 2007 4:37am
Quoting bshadroo
i went short on eurusd after h4 signal.any idea?

Hi! I'm in with you on this one. Keeping an eye on 1h for a possible failure of the trade. Other than that everything looks fine so far. Just some minor noise.
  • #9,676
  • Dec 19, 2007 4:52am Dec 19, 2007 4:52am
Hello everybody, i'm here with you on this thread, and i'm starting Phil's method. To my mind it'll be much more better to study if gurus of this thread post their trades, and explain a little bit, or just enclose a pic. Thank you for understanding.
  • #9,677
  • Edited 5:23am Dec 19, 2007 5:13am | Edited 5:23am
Quoting Pipsi cola
Hi! I'm in with you on this one. Keeping an eye on 1h for a possible failure of the trade. Other than that everything looks fine so far. Just some minor noise.
hi i close that because of the bad h1 candles
  • #9,678
  • Dec 19, 2007 5:16am Dec 19, 2007 5:16am
Quoting Pipsi cola
Hi! I'm in with you on this one. Keeping an eye on 1h for a possible failure of the trade. Other than that everything looks fine so far. Just some minor noise.

some uncertainty in the market. if the current 1h candle closes bullish, I most likely will get out of the trade.
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  • #9,679
  • Dec 19, 2007 5:58am Dec 19, 2007 5:58am
Quoting Pipsi cola
some uncertainty in the market. if the current 1h candle closes bullish, I most likely will get out of the trade.

oh no
look at my chart . there is some differences between mine and yours in h1:surprised.i mean in the color of the macd.which indicator u use?
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  • #9,680
  • Dec 19, 2007 6:07am Dec 19, 2007 6:07am
Quoting bshadroo
oh no
look at my chart . there is some differences between mine and yours in h1:surprised.i mean in the color of the macd.which indicator u use?

i use the version102 MACD indicator with settings 8, 13, 1 just like Philip. it just gives 1hour MACD a smoother look (the 8, 13, 1 settings). i decided to give my trade a chance since the 1h showed two tails to the top.
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