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4 Hour Strategy (MACD)

  • #9,921
  • Edited 8:52am Jan 2, 2008 8:41am | Edited 8:52am
Quoting bshadroo
i short the pair at 1.4661.please give me advise about sl and tp
thx
ok.it was a fast move .i close it at 1.4643 and wait for a h4 close below 200ma for sell again.
also news is coming for us
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 31 KB
  • #9,922
  • Jan 2, 2008 8:52am Jan 2, 2008 8:52am
Hi Im new to this forum although not new to trading forex (I trade 15 min candles using PP and EMAs). I have been looking for sometime at other methods particularly on the 4hr time frame which is why this method has stood out to me.

I have read through all the background material and most of the posts and I have a question regarding todays movements.

I notice that one of the posters here is shorting EUR/USD but didnt it also give a buy signal today after moving off the 21 and through the 8 with MACD TC signal?

Am I mistaken?? My charts are a little screwed because interbank showing a GAP this morning but I dont think it affects the interpretation.
  • #9,923
  • Jan 2, 2008 8:59am Jan 2, 2008 8:59am
Quoting bshadroo
ok.it was a fast move .i close it at 1.4643 and wait for a h4 close below 200ma for sell again.
also news is coming for us

Take a deep breath and dont just jump in because you have nothing else to do. Why did you take this trade if you did not have a sl and tp? You have 2 options at this point, take your time and plan the trade or keep shooting from the hip and blow out your account.
Keep taking CT trades, I need more money
  • #9,924
  • Jan 2, 2008 9:05am Jan 2, 2008 9:05am
Does anyone use a good broker with a pip by pip trailing stop available preferably on their server? My MT4 broker trailing stop goes down with my internet. (BOO)

After the initial move I would like pip by pip trailer.

SUGGESTIONS??

HAPPIEST PROSPEROUS 2008 to all you dedicated traders!
  • #9,925
  • Jan 2, 2008 9:15am Jan 2, 2008 9:15am
Hello,
For me long E/U makes more sense.in H4 it looks bounce off 21(TC) and 200 is a good support.the only reason I don't take it is big SL

Mike
Failure, is a wonderful teacher!
  • #9,926
  • Jan 2, 2008 9:18am Jan 2, 2008 9:18am
Quoting Ryanmcd
Take a deep breath and dont just jump in because you have nothing else to do. Why did you take this trade if you did not have a sl and tp? You have 2 options at this point, take your time and plan the trade or keep shooting from the hip and blow out your account.
actually i have tp and sl .but i was in doubt to put my sl above broken TL about 1.4690 or above the high at about 1.4710. that was my question .
and u see .. another time news come and eur jump up i'm glad to close the trade before news
  • #9,927
  • Jan 2, 2008 9:21am Jan 2, 2008 9:21am
Hi Mike,

Where would you have placed TP and SL. As I see it first possible target could be recent top at 4747, but also the 4700 could have acted as a very close (too close?) profit.

But where place the stop ?? When I looked at the possible trade I thought 4640 just below the previous 4H low. I also though of 4657 exactly 2:1 ratio to profit taking if we use the 4747, but this would have been hit by now for -30 pips.
  • #9,928
  • Jan 2, 2008 9:29am Jan 2, 2008 9:29am
yes .you are right.I didn't like 1.4700 too.My SL would be below 200 & 21 like 1.4620.
Failure, is a wonderful teacher!
  • #9,929
  • Jan 2, 2008 9:33am Jan 2, 2008 9:33am
Quoting mike1349
yes .you are right.I didn't like 1.4700 too.My SL would be below 200 & 21 like 1.4620.
hi mike
are u the same mike in skype?
what is your trade?
  • #9,930
  • Jan 2, 2008 9:34am Jan 2, 2008 9:34am
Hi i took the Tc on Euro this morning but my stop loss got taken out
Enter 1.4689
SL 1.4646 ( below 76.0 fib of the signal candle which was at 1.4653)
TP 1.4739
My first trade for the year in a loss, But it is Ok. Lots mre to come. cannot let negativity surround me. Good vibes to all for the current year.
Nadia
Attached Image (click to enlarge)
Click to Enlarge Name: euro tc today.jpg Size: 191 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #9,931
  • Jan 2, 2008 9:43am Jan 2, 2008 9:43am
Info
Attached File(s)
File Type: zip My Risk Reward Way.zip   806 KB | 1,591 downloads
  • #9,932
  • Jan 2, 2008 9:43am Jan 2, 2008 9:43am
Quoting bshadroo
hi mike
are u the same mike in skype?
what is your trade?
yes.As I said I didn't trade it 2 reasons:
1)1.4700 in my way
2)big SL

http://www.forexfactory.com/images/misc/progress.gif

Failure, is a wonderful teacher!
  • #9,933
  • Jan 2, 2008 9:53am Jan 2, 2008 9:53am
Quoting BIL2205
Hi i took the Tc on Euro this morning but my stop loss got taken out
Enter 1.4689
SL 1.4646 ( below 76.0 fib of the signal candle which was at 1.4653)
TP 1.4739
My first trade for the year in a loss, But it is Ok. Lots mre to come. cannot let negativity surround me. Good vibes to all for the current year.
Nadia
Hi
I saw the trade this morning but could not communicate via E-mail. Stoploss had to be below 200sma as it was the support level making the stop 50+. To big for me. It can only go better from here.

Interbank had a data error so the MACD showd a TC withn that gap up due to data missing. It was actually a zero break on my platform but still the stoploss had to be below 200sma.
  • #9,934
  • Jan 2, 2008 9:59am Jan 2, 2008 9:59am
Hi Phillip, yes i figured that would be the reson for stop loss being taken out, thanks for the reply.
Nadia
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #9,935
  • Jan 2, 2008 10:05am Jan 2, 2008 10:05am
Stoploss had to be below 200sma as that was the supprt level the price would likely test.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 22 KB
  • #9,936
  • Jan 2, 2008 11:17am Jan 2, 2008 11:17am
Quoting Phillip Nel
Hi
I saw the trade this morning but could not communicate via E-mail. Stoploss had to be below 200sma as it was the support level making the stop 50+. To big for me. It can only go better from here.

Interbank had a data error so the MACD showd a TC withn that gap up due to data missing. It was actually a zero break on my platform but still the stoploss had to be below 200sma.
hi
i have some questions please:
1-sometimes market is slow by its nature ,for instance between 20gmt and 24gmt .during thease houres h1 candles are little and they can make some dogies and also the macd can show some trend reversals if the price stay in high or low during those hours.do u confidence to that candles or better to ask do u trade after that hours?
2-some times after weekends market opens with a gap which cause some signals in macd . do u trade in those hours? generaly in which hours u usually trade?
3-if u want to sort the items :MA's , fibo levels, closing of candels,time in trading,trendlines,macd signal,... from more importance to less how will u sort them? i ask this Q because sometimes i want to open a position but i see a lot of levels around
thanks in advance
  • #9,937
  • Jan 2, 2008 12:38pm Jan 2, 2008 12:38pm
Quoting bshadroo
hi
i have some questions please:
1-sometimes market is slow by its nature ,for instance between 20gmt and 24gmt .during thease houres h1 candles are little and they can make some dogies and also the macd can show some trend reversals if the price stay in high or low during those hours.do u confidence to that candles or better to ask do u trade after that hours?

I seldom trade after that hours. If there was news out that could take it further I will consider taking it but then the candle emotion must really shows it

2-some times after weekends market opens with a gap which cause some signals in macd . do u trade in those hours? generaly in which hours u usually trade?

Gaps causes the MACD to give signals that might be false. I dont trade gaps at all.

3-if u want to sort the items :MA's , fibo levels, closing of candels,time in trading,trendlines,macd signal,... from more importance to less how will u sort them? i ask this Q because sometimes i want to open a position but i see a lot of levels around
thanks in advance

1. Price action(In relation to the moving averages)
2. Moving Averages/Candle emotion/News(strength of possible move)
3. Support/Resistance/Trendlines(Above and below entryprice)
4. MACD(The top 3 has to be possitive to use MACD to pull the trigger)
5. Fib levels(for targets only)
.
  • #9,938
  • Jan 2, 2008 12:45pm Jan 2, 2008 12:45pm
Quoting Phillip Nel
.
thx alot for quick answer . that helped me alot.
  • #9,939
  • Jan 2, 2008 1:02pm Jan 2, 2008 1:02pm
One Hour Strategy 1. Taken from mp3 on page 98, post 1456. This is the same mp3 that was reposted at page 386, post 5790. This lesson has no accompanying chart. For those with difficulty understanding spoken English.
Attached File(s)
File Type: doc PhillipNel 1Hour Strategy1 written copy.doc   6 KB | 783 downloads
  • #9,940
  • Jan 2, 2008 6:21pm Jan 2, 2008 6:21pm
Does anybody knows why all these tails just appear at the same time on so many currency. Look at this one on eur Cad it happen just before chrismast...I would have love to ride this one down for 7000 pips I guess some big guys gave themselve a chrismas gift...mouhahahaha!!!!!!
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