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4 Hour Strategy (MACD)

  • #10,121
  • Jan 8, 2008 7:54am Jan 8, 2008 7:54am
i think a H4 or even H1 close for early entry below the triangle can be a good trade after the news.isnt it?
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  • #10,122
  • Jan 8, 2008 7:59am Jan 8, 2008 7:59am
Quoting ira
Sorry for long post, but it looks like many didn't listen to Phillip's wrapup yesterday.
Waiting for the written file....
Plan your trades and trade your plans
  • #10,123
  • Jan 8, 2008 8:02am Jan 8, 2008 8:02am
Hello. just a quick note on todays set ups . market is always in motion , does not mean it is in Rhythm. You cannot have a trade everyday of the week.
I have added the swissy in my Pairs to trade recently. here is what i see on that pair. Price has been moving along nicely on the 8 Ema , it tested the 21 on the 31st of december but agian resumed the motion along the 8 ema, Now it has broken the 21 ema and moved above it. then it has come down to the 21 ema and finding support on it. now if it manages to find support here and starts to move up it can go up to 200 sma , which lies between the 89 and 21.OR it can just go below 21 again and resume its down trend. This is just an anticipation of a scenario according to rules. lets see if it happens. I want to be ready if it does develop.
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TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,124
  • Jan 8, 2008 8:03am Jan 8, 2008 8:03am
Quoting saka
Waiting for the written file....
HI saka it is my turn to write it up. the wrap up was posted late in the day so was not able to type it up. you will have it in the next couple of hours , thanks for your patience
Nadia
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,125
  • Jan 8, 2008 8:16am Jan 8, 2008 8:16am
triangle? big stoploss again?
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  • #10,126
  • Jan 8, 2008 8:22am Jan 8, 2008 8:22am
Quoting BIL2205
HI saka it is my turn to write it up. the wrap up was posted late in the day so was not able to type it up. you will have it in the next couple of hours , thanks for your patience
Nadia
It dosen't matter, thanks for your translating
I just think 4h strategy had better be used at crosses, especially during this stage, even though the SLs of crosses are very high, we can use both 1h and 5min to find entries and SLs.
Plan your trades and trade your plans
  • #10,127
  • Edited 9:01am Jan 8, 2008 8:48am | Edited 9:01am
I am still learning so whatever i say please correct me. i am also not adding anything to the rules. i was just curious about GBP. I hope cable is repeating what happened on USDJPY. Break the trendline and close above 21. retesting the trendline and move away. though, i don't see it going too far because of the resistance at 1.9818 level.

i can't remember may be it was Ira who said ZB is not a MACD signal. i will appreciate if someone can tell when to consider a ZB. may be i have miss things up.

Though, i still hold my position since i had already planned for it.
Price retrace to 75% fib level and i enter @ 1.9740. This is what Philip taught us on how to enter using retracement if the signal candle is big. stop loss is 1.9722. news may likely pull it up for me.
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #10,128
  • Jan 8, 2008 9:05am Jan 8, 2008 9:05am
Quoting ira
I'm a bit confused of what is going on on the thread lately!
I don't know maybe it's me, or my data, but I didn't see anything worth trading so far!
There was only one deal I would have taken on E/U, I have marked it on the chart due to the tail, IT, and evening star with the hanging man inside, though it was a CT trade, but it worked well to the 21. I didn't take due to the sleep, but there is nothing else to trade so far.
Look at the candles, up, down,up. Look at the 8 and 21 - they are flat and interlaced, there is no rhythm at all! The price has closed again above 21, but there is no signal. As we are in an up trend, so I more favour for long, but only after the price will retrace to the 8 or 21 and give TC signal.
Let's wait for the rhythm to show itself and then take the deals.

People, PATIENCE and PATIENCE!
Thanks Ira. To much indecision around the 21 and 8ema. Must wait for either a continuation of the trend or a reversal back to 89 or 200 whichever is the closest
  • #10,129
  • Jan 8, 2008 9:12am Jan 8, 2008 9:12am
Quoting Robertus
I took this also.

Price had been topped around 1.1190 for 3 candles now and the last one was a bearish belt-hold. The trade is with the trend and the price closed bellow the 21 and the 8.

It concerns me that the fast MAs are converged, meaning indecision. News is also close and important (say the analists), although it is not on my "don't trade it!!!"-list.

Entered at 1.1169
SL: 1.1205 (above daily high and the round number)
TP: 1.1107 (above round number and mid way to the last low)
R:R > 1

Welshguy, why did you choose that SL?

Robert
Stop was calculated from the % amount i wanted to risk. As the other members are rightly saying there are not really any true signals lately, hence my tight stop. Took this one to get back into the swing of things after a 3 week break.

Still in tho :
  • #10,130
  • Jan 8, 2008 9:17am Jan 8, 2008 9:17am
Quoting BIL2205
Hello. just a quick note on todays set ups . market is always in motion , does not mean it is in Rhythm. You cannot have a trade everyday of the week.
I have added the swissy in my Pairs to trade recently. here is what i see on that pair. Price has been moving along nicely on the 8 Ema , it tested the 21 on the 31st of december but agian resumed the motion along the 8 ema, Now it has broken the 21 ema and moved above it. then it has come down to the 21 ema and finding support on it. now if it manages to find support here and starts to move up it can go up to 200 sma , which lies between the 89 and 21.OR it can just go below 21 again and resume its down trend. This is just an anticipation of a scenario according to rules. lets see if it happens. I want to be ready if it does develop.

Thanks. You are 100% correct with your anticipation. Lets wait for the market to show what it want to do and only then we decide to take position. The current up and down is Tsunami time. Lets wait for the Market to show its cards in terms of rhythm. Either to 89 or continuing the previous trend.
  • #10,131
  • Jan 8, 2008 9:42am Jan 8, 2008 9:42am
Quoting Phillip Nel
Info
Here is the written copy of daily wrap up PArt 1 from post 10094. Please refer to original post for the PDF. Thank you.
Nadia
Attached File(s)
File Type: doc daily wrap up Jan 7th 2008.doc   7 KB | 509 downloads
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,132
  • Jan 8, 2008 9:58am Jan 8, 2008 9:58am
Nadia:

I was just about to comment on the Swissie...but you took care of it all!!!
  • #10,133
  • Jan 8, 2008 10:23am Jan 8, 2008 10:23am
Quoting ejiexe
i can't remember may be it was Ira who said ZB is not a MACD signal. i will appreciate if someone can tell when to consider a ZB. may be i have miss things up.

Correct me if I'm wrong Phillip, but in a previous post that I read somewhere, not sure which one it was being that I've been studying the system for over a month reading back thru all the previous posts, you said that you usually take the odds on when it's a zero bounce because you consider it to be pretty strong.

As far as trading and TRYING to make trades, if the signal isn't there, like Palmer and Ryan said, let the market come to you! Let the market prove YOU RIGHT, consider yourself wrong until the market proves it otherwise!

Palmer, I like your site, keep up the great work for us newbs trying to learn.

Good trades to you all...
KC
  • #10,134
  • Jan 8, 2008 10:24am Jan 8, 2008 10:24am
Quoting ejiexe
I am still learning so whatever i say please correct me. i am also not adding anything to the rules. i was just curious about GBP. I hope cable is repeating what happened on USDJPY. Break the trendline and close above 21. retesting the trendline and move away. though, i don't see it going too far because of the resistance at 1.9818 level.

i can't remember may be it was Ira who said ZB is not a MACD signal. i will appreciate if someone can tell when to consider a ZB. may be i have miss things up.

Though, i still hold my position since i had already planned for it.
Price retrace to 75% fib level and i enter @ 1.9740. This is what Philip taught us on how to enter using retracement if the signal candle is big. stop loss is 1.9722. news may likely pull it up for me.
Ejiexe, I have a printed copy of MACD signals and trying to find the file in comp to post here.
As for the ZB - Zero Break the price goes from negative to positive and then returns to negative, which is considered as zero break.
On your chart it's more like through zero, we have discussed this signal on the thread, and Phillip said that we can use it if it goes with the rules of the market rhythm. The problem is not here , you were 100% correct in saying that price has closed above 21, will move back and may move on to the 89. In this case we would have TC on MACD and that would have been the real trigger. That's my vision of this situation.
  • #10,135
  • Jan 8, 2008 10:33am Jan 8, 2008 10:33am
Oh, I have found it. It's Phillip's post 4348 Lesson 9.
Attached File(s)
File Type: pdf L9 Major MACD Signals.pdf   23 KB | 801 downloads
  • #10,136
  • Jan 8, 2008 10:33am Jan 8, 2008 10:33am
Just curious.

Does anyone have a fundamental reason for the markets being so flat this week?

We are out of the holidays, I didn't see any huge news regarding the US markets for this week. What is causing everything to be so flat?
  • #10,137
  • Jan 8, 2008 10:59am Jan 8, 2008 10:59am
Trading FX we know that 70% of the time we are ranging, meaning dont be greedy trade off the smaller TF's perhaps, as we can clearly see the market is sideways. This happens a lot of the time, so when we clearly know there is no big trend then adapt your trading style and catch some of the smaller waves. They happen all the time. When we know we are trading sideways then you also know not to expect big moves.

ADX now on Euro 4h shows us clearly that at the moment there is no trend we are sideways ( under 25)
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  • #10,138
  • Jan 8, 2008 11:27am Jan 8, 2008 11:27am
Quoting unlv_tj
Just curious.

Does anyone have a fundamental reason for the markets being so flat this week?

We are out of the holidays, I didn't see any huge news regarding the US markets for this week. What is causing everything to be so flat?
If it helps I would say the market is pretty unsure what factors are playing the more important role. There is inflation coming up (-> higher interest rates) and also recession (->declining interest rates) is likely. They all wait for the speech of Bernanke on Thursday to get a hint what the FED expect as the worst problem of this dilemma.
  • #10,139
  • Jan 8, 2008 11:28am Jan 8, 2008 11:28am
Quoting bshadroo
triangle? big stoploss again?
look your chart ,price close above 21 so part of the rule is "end of run",and after close above 21 it willbe comeback to 21 ,i will be wating for price comeback to 21 and wait for tc .wait for market rhytem playing.





"Together More Better Than Alone"
  • #10,140
  • Edited 12:27pm Jan 8, 2008 11:38am | Edited 12:27pm
I am watching seven pairs and I only see the loonie is developing a possible setup. TC off the 200 MA
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