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4 Hour Strategy (MACD)

  • #10,041
  • Jan 5, 2008 6:47pm Jan 5, 2008 6:47pm
Hi Philip

I just wanted to thank you for this thread that you have started.

I am newbie at Forex trading (well, not trading, only trying).

I find it so encouraging that someone like you would go to so much effort to help other's out. This world we live in has the attitudes of, SELFISHNESS, ME FIRST, LOOK AFTER YOURSELF. Well you have proved to be the opposite. To go to so much trouble to help people you do not even know, it's incredible.

And I would like to thank all the other contributers to the thread, as they are doing it unselfishly also.

THANK YOU, THANK YOU!!!!!

Keep up the good work...

Regards

Ozzibob
  • #10,042
  • Jan 6, 2008 1:04am Jan 6, 2008 1:04am
hi ,guys i want u give me advice for eu next week.in my chart canddle double low higher close,it give me reason to open buy if macd give signal on TC and candle close between 8 ema and 21 ema,please your analysis guys,thanks.







"Together More Better Than Alone
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  • #10,043
  • Jan 6, 2008 9:44am Jan 6, 2008 9:44am
Quoting juang
hi ,guys i want u give me advice for eu next week.in my chart canddle double low higher close,it give me reason to open buy if macd give signal on TC and candle close between 8 ema and 21 ema,please your analysis guys,thanks.







"Together More Better Than Alone

If I get a nice green macd without a huge bar I will get long.
Keep taking CT trades, I need more money
  • #10,044
  • Jan 6, 2008 12:39pm Jan 6, 2008 12:39pm
Thats quite a safe bet from myside... not that I know this system, but fundamentally everything is looking like the dollar will weaken especially against the Euro. So I am long anyway... its quite nice to see that a technical system in nature gives signales that marry up with the long term fundamentals.
  • #10,045
  • Jan 6, 2008 2:41pm Jan 6, 2008 2:41pm
Here is a trade I took this week. Thought it would be good example of 4hr entry when the triger bar is large. I took the trade after a 50% retracement.

As you can see it followed rules very well it had been following the 8 ema for resistance. So when the macd bar gave short Tc signal I was NOT able to enter because bar was so large and it made stop to great. So based on Phillips idea about entering on retrace that is what I did I entered on about a 50% retracement of the large trigger bar.

I set 50% of position to close at +25 pips then set the last 50% to be and set target for 10 pips before the daily trend line (in gold). Thanks to Ryans encoragement to let it ride I was able to bank 78 pips. My first trade of 2008. Any thoughts are welcome.
Attached Image (click to enlarge)
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  • #10,046
  • Jan 6, 2008 3:07pm Jan 6, 2008 3:07pm
Quoting Micardo
Hi Eric,

Ok I understand. So could you stop and reverse in this situation? I assume if the signal is strong enough then that is an appropriate action to take?
Suppose you could, but that's typically a CT (Counter Trend trade), which I typically avoid unless it's on a strong R/S and/or trendline. And even then I trade with a smaller position.
  • #10,047
  • Jan 6, 2008 5:02pm Jan 6, 2008 5:02pm
Dear Philip,
the first sunday candel on MIG Broker is a 1h candle because start at 11 pm (GMT +1). If MACD show a signal on this unusual candle, do you consider it for an entry, or not? IMHO it's better to wait the next one (the first monday candle at 0.00 GMT +1).
Thank you in advance.
Giorgio
  • #10,048
  • Jan 6, 2008 5:33pm Jan 6, 2008 5:33pm
Quoting pips4uandme
Hi Palmer!

I'm looking forward to checking out "Blade Runner" -- and I promise to click on many ads

Hope your brain is decompressed and no longer soggy...Yikes!

Glad you had a safe holiday and that Johnny W. didn't knock you for a loop on 12-31

Pips

Pips:

Yes, I pulled through and Mr. Walker was under control. But, the poker game that lasted until about 1:30 this morning cost me a couple of pips...It's all good though.

JimT:

The the retracement entry is a great way to get in after a big move has occurred. It helps out with the discipline factor as well by not chasing the market and letting it come to you. Now, who said that before? Nice trade.

The calendar looks a little thin for the week. The EURUSD looks like it returning to the 1.4750 area that's been visited several times before. Yen appearing to make a double bottom with the low on 11/27/07...
Attached Image
  • #10,049
  • Jan 6, 2008 7:06pm Jan 6, 2008 7:06pm
Quoting JimTatum
Here is a trade I took this week. Thought it would be good example of 4hr entry when the triger bar is large. I took the trade after a 50% retracement.

As you can see it followed rules very well it had been following the 8 ema for resistance. So when the macd bar gave short Tc signal I was NOT able to enter because bar was so large and it made stop to great. So based on Phillips idea about entering on retrace that is what I did I entered on about a 50% retracement of the large trigger bar.

I set 50% of position to close at +25 pips then set the last 50% to be and set target for 10 pips before the daily trend line (in gold). Thanks to Ryans encoragement to let it ride I was able to bank 78 pips. My first trade of 2008. Any thoughts are welcome.
That is a very good trade, in all aspects. You entered with a plan held it with out emotion and u were paid in reward, well done Jim!

Joseph
  • #10,050
  • Jan 6, 2008 7:16pm Jan 6, 2008 7:16pm
Parlmer, thank you for sharing the BradeRunner. Great stuff.

BTW: I like the daily pivot indicator on your graph. Would you mind to
upload the indicator? thanks.

Quoting Palmer
Pips:

Yes, I pulled through and Mr. Walker was under control. But, the poker game that lasted until about 1:30 this morning cost me a couple of pips...It's all good though.

JimT:

The the retracement entry is a great way to get in after a big move has occurred. It helps out with the discipline factor as well by not chasing the market and letting it come to you. Now, who said that before? Nice trade.

The calendar looks a little thin for the week. The EURUSD looks like it returning to the 1.4750 area that's been visited several times before. Yen appearing to make a double bottom with the low on 11/27/07...
NEVER enter a trade JUST because you want to trade.
  • #10,051
  • Jan 6, 2008 7:41pm Jan 6, 2008 7:41pm
cheapmi:

I actually have two different Pivot indicators...this one seems to plot better and has more user inputs....
Attached File(s)
File Type: mq4 MultiplePivotsV2.mq4   26 KB | 928 downloads
File Type: ex4 MultiplePivotsV2.ex4   24 KB | 642 downloads
  • #10,052
  • Jan 6, 2008 7:54pm Jan 6, 2008 7:54pm
Quoting Palmer
cheapmi:

I actually have two different Pivot indicators...this one seems to plot better and has more user inputs....
Parlmer, Thank you very much.
NEVER enter a trade JUST because you want to trade.
  • #10,053
  • Jan 6, 2008 8:43pm Jan 6, 2008 8:43pm
Take note:

EURUSD at the 21
USDJPY hitting resistance at the top of the trendline...
Attached Images
  • #10,054
  • Jan 7, 2008 2:22am Jan 7, 2008 2:22am
I have shorted GU @ 1.9670 for 1h entry, I don't know whether it works.
http://www.sinaimg.cn/cj/pc/2008-01-...0107162147.jpg
Plan your trades and trade your plans
  • #10,055
  • Jan 7, 2008 2:46am Jan 7, 2008 2:46am
look what happend while i was sleeping!
a h4 close below the 21 and TL ,a pull back from 1.4690 then comeback to the broken TL as u see in the H1 inset and then went south to the 200sma H4 which seems to be an strong support.
may be this is an start of a trend reversal for EU after the previous weekly dogi.i missed that hopping someone didnt ,but now i'm waiting for a close below 200.
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  • #10,056
  • Jan 7, 2008 2:48am Jan 7, 2008 2:48am
Hey Saka i took te GU short as well. enter at 1.9674(38 % retrace of signal candle on 4 hour with 1 hour confirmation)
SL 1.9721(above 8 ema). got stopped out pretty quick in 40 minutes to be exact. Oh well, wait for next trade.
Nadia
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,057
  • Jan 7, 2008 2:52am Jan 7, 2008 2:52am
Quoting saka
I have shorted GU @ 1.9670 for 1h entry, I don't know whether it works.
hi
9650 in an strong weekly support ,maybe better to wait price break this level
good luck
  • #10,058
  • Jan 7, 2008 2:54am Jan 7, 2008 2:54am
Quoting bshadroo
hi
9650 in an strong weekly support ,maybe better to wait price break this level
good luck
Good point bshadroo
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,059
  • Jan 7, 2008 3:01am Jan 7, 2008 3:01am
Quoting BIL2205
Hey Saka i took te GU short as well. enter at 1.9674(38 % retrace of signal candle on 4 hour with 1 hour confirmation)
SL 1.9721(above 8 ema). got stopped out pretty quick in 40 minutes to be exact. Oh well, wait for next trade.
Nadia
hi, Nadia, what a pity, we make wrong decision. If we short eu at that time, at least we take profit already and set to BE

For a long time I have puzzled by one thing, I find that during 8:00 GMT+2, there are several chances to trade, and at least one of them will be a big bar, you can take lots of profit from it, but others are not.

I have stopped out 3 times in a row. What make me very upset is I lost the good chance such as USD/Jpy last week. This time is another case. I know there must be a good pair to trade with, but I don't know which one is good.
Plan your trades and trade your plans
  • #10,060
  • Jan 7, 2008 3:14am Jan 7, 2008 3:14am
Quoting saka
hi, Nadia, what a pity, we make wrong decision. If we short eu at that time, at least we take profit already and set to BE

For a long time I have puzzled by one thing, I find that during 8:00 GMT+2, there are several chances to trade, and at least one of them will be a big bar, you can take lots of profit from it, but others are not.

I have stopped out 3 times in a row. What make me very upset is I lost the good chance such as USD/Jpy last week. This time is another case. I know there must be a good pair to trade with, but I don't know which one is good.
dont be upset my friend,look at that blue space , i have taken 2 shorts on that blue area near tops because i beleved that price wantes to see that weekly broken TL firs and then start to free fall !! at first trade my sl hitted only by 1 pip then price falls 100pips .second one my sl hitted by news and then went south again and i totally lost 60pips .
thease things happens to all of us but the omportant is to know where the problem was
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