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4 Hour Strategy (MACD)

  • #10,241
  • Jan 10, 2008 2:20am Jan 10, 2008 2:20am
I just wanted to check which time frames people are using (which broker perhaps). As you can see from my posts yesterday it seems that my 4H candles differ from Philips due to my broker. Mine close 08:00 GMT, 12:00 GMT and 16:00 GMT (those that are open during my trading day). What times do others close (please use GMT so we can see if they all match or not).
  • #10,242
  • Jan 10, 2008 2:41am Jan 10, 2008 2:41am
Quoting brettboz
I just wanted to check which time frames people are using (which broker perhaps). As you can see from my posts yesterday it seems that my 4H candles differ from Philips due to my broker. Mine close 08:00 GMT, 12:00 GMT and 16:00 GMT (those that are open during my trading day). What times do others close (please use GMT so we can see if they all match or not).
im using metatrader and the close time at 4HR timeframe is also the same as yours which starts from 0.00, 4.00, 8.00, 12.00, 16.00, 20.00, and so on.
My metatrader is on GMT +1.
Hope it'll help you
  • #10,243
  • Jan 10, 2008 3:01am Jan 10, 2008 3:01am
I took the EURUSD short trade:

Entry: 1.4671
SL: 1.4703 (32pips)
TP: 1.4639 (32 pips)
RR: 1:1

Reason:
- Price went through TrendLine, touched (almost) 200SMA, bounced towards 21EMA and pulled back
- TC signal on 1H MACD

I will close a half after 20 pips and set remaining at BE. If TP is not hit before the news I will close whole position.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 21 KB
  • #10,244
  • Jan 10, 2008 3:11am Jan 10, 2008 3:11am
Quoting Michael81
I took the EURUSD short trade:
Michael, why do you enter? Philip's strategy has illustrated clearly that 4h strategy should not be used before the big news such as NFP or interest rate Announcement
Plan your trades and trade your plans
  • #10,245
  • Edited 3:21am Jan 10, 2008 3:17am | Edited 3:21am
Hi, I think this is my 2nd post on this thread. First let me thank Philip again for his great system. I also appreciate everybody's input.

This time let me contribute a little bit. I saw two friends longed EUR or shorted EUR. During GMT 7:30~8:59, I also did three short orders but closed losing 5 pips (they are not 4H MACD orders so I will not say more about them).

Then I noticed the two trend lines. I drawn them a few hours ago. If I respected the lower trend lines, I would not have bother doing those low-yield orders. I saw there was a small round bottom on EUR chart, I would not take that long because I saw that upper trend line and the 21EMA. So, I think the best is to wait for a break. May need another 10 or 20 hours.

I hope this may help. Happy trading and more pips!
Attached Image (click to enlarge)
Click to Enlarge Name: 未标题-2 拷贝.gif Size: 26 KB
  • #10,246
  • Jan 10, 2008 3:20am Jan 10, 2008 3:20am
Quoting saka
Michael, why do you enter? Philip's strategy has illustrated clearly that 4h strategy should not be used before the big news such as NFP or interest rate Announcement
Of course I agree. I will close an hour before the news if my trade would not hit my TP.
I have seen many times Phillip taking the trade on the day of important news. If I remember well it is not unrecomended - on condition that you close your trade before announcement or at least tighten your stop loss.

Greetings
Michael
  • #10,247
  • Jan 10, 2008 3:24am Jan 10, 2008 3:24am
Quoting Michael81
Of course I agree. I will close an hour before the news if my trade would not hit my TP.
I have seen many times Phillip taking the trade on the day of important news. If I remember well it is not unrecomended - on condition that you close your trade before announcement or at least tighten your stop loss.

Greetings
Michael
But I think that it is not worth to stand the probability of losing to enter a not very rich trade. I have sufered so many times the losing trade during the consolidation and made a great loss. When market direction clear, we can benefit a lot from the TC trades.
Plan your trades and trade your plans
  • #10,248
  • Jan 10, 2008 3:27am Jan 10, 2008 3:27am
yes , news
i did the same trade and i wanted to hold if the next h1 follow the direction but it doest and i closed it at BE afraiding the trichet.
  • #10,249
  • Jan 10, 2008 3:38am Jan 10, 2008 3:38am
Quoting Michael81
I took the EURUSD short trade:

Entry: 1.4671
SL: 1.4703 (32pips)
TP: 1.4639 (32 pips)
RR: 1:1

Reason:
- Price went through TrendLine, touched (almost) 200SMA, bounced towards 21EMA and pulled back
- TC signal on 1H MACD

I will close a half after 20 pips and set remaining at BE. If TP is not hit before the news I will close whole position.
Such a wonderful world: I took E/U long.
Reasons:
- tail on 200SMA with morning star
- little round bottom
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd.gif Size: 17 KB
  • #10,250
  • Jan 10, 2008 3:48am Jan 10, 2008 3:48am
Quoting brettboz
I just wanted to check which time frames people are using (which broker perhaps). As you can see from my posts yesterday it seems that my 4H candles differ from Philips due to my broker. Mine close 08:00 GMT, 12:00 GMT and 16:00 GMT (those that are open during my trading day). What times do others close (please use GMT so we can see if they all match or not).
Hi brettboz,

this is something discussed frequently on the thread. Don't worry about your chart looking differently -- the method still works. Our trigger times may be different, and sometimes I may have a trade while you don't. They even out over time -- just learn to read the market rhythm and determine your support and resistance levels and use them to plan your trades.

PS. My candles close at GMT -1

Happy trading,
Pips
  • #10,251
  • Jan 10, 2008 4:28am Jan 10, 2008 4:28am
my trade closed at Break Even. It is unpredictable to trade during this kind of day, i suppose. im staying out of a trade today. Good luck to you all
  • #10,252
  • Jan 10, 2008 4:58am Jan 10, 2008 4:58am
Quoting deforexit
Such a wonderful world: I took E/U long.
Reasons:
- tail on 200SMA with morning star
- little round bottom
did u read the recent PDF from philip(heart of the system)? he says:
"You can go counter trend, but you must look at the 8EMA, because it can bounce off the8EMA continuing or going on with the trend. So you have to take some profit there are cover the rest. With either a Break Even (BE) or use the little profit you’ve made to the 8ema as part of stop loss on the remainder. So that way if you are taken out, you getbreak even on the deal. Round Tops and Round Bottoms are counter trend and are always more risky than going with a trend."
any way i close my short trade because of the news ,but long trade looks more dangerus especially its not in oversold area yet.
good luck
  • #10,253
  • Jan 10, 2008 5:08am Jan 10, 2008 5:08am
hi been following this thread for some time and i think am kinda interested,i think Philip has really done a lot of home work.this is actually my first post hope to get alog
  • #10,254
  • Edited 8:35am Jan 10, 2008 5:37am | Edited 8:35am
Quoting Michael81
I took the EURUSD short trade:

Entry: 1.4671
SL: 1.4703 (32pips)
TP: 1.4639 (32 pips)
RR: 1:1

Reason:
- Price went through TrendLine, touched (almost) 200SMA, bounced towards 21EMA and pulled back
- TC signal on 1H MACD

I will close a half after 20 pips and set remaining at BE. If TP is not hit before the news I will close whole position.

Closed at BE, but it was HOT.

I think it is not very good to open trade 3 or 4 hours before big news. I was decided to close it no matter what but luckily for me I managed not to lose on this trade.

Greetings
Michael

[EDIT1]: After news my TP was finally hit so I would earn on this transaction but keeping your trade plan ... priceless ;-)
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd2.gif Size: 17 KB
  • #10,255
  • Edited 6:20am Jan 10, 2008 5:48am | Edited 6:20am
Quoting bshadroo
did u read the recent PDF from philip(heart of the system)? he says:
"You can go counter trend, but you must look at the 8EMA, because it can bounce off the8EMA continuing or going on with the trend. So you have to take some profit there are cover the rest. With either a Break Even (BE) or use the little profit you’ve made to the 8ema as part of stop loss on the remainder. So that way if you are taken out, you getbreak even on the deal. Round Tops and Round Bottoms are counter trend and are always more risky than going with a trend."
any way i close my short trade because of the news ,but long trade looks more dangerus especially its not in oversold area yet.
good luck
signal from eu not CT cause price still above 89 sma,just tp to small (8-21 ema),more better wait price come to 21 ema than wait signal from macd TC,becarefull with roundtop/roundbottom in area 15/-15 macd ,thanks.


"Together More Better Than Alone"
  • #10,256
  • Jan 10, 2008 6:39am Jan 10, 2008 6:39am
Thank you, bshadroo.
I read the whole thread and its attachment during this Christmas holiday.
But, I think (due to my language) that I must read it more and more.
  • #10,257
  • Jan 10, 2008 6:42am Jan 10, 2008 6:42am
Hello, just wanted to check Im getting the hang of this method. I have what appears to me a possible TC trade setting up on E/U. My chart is attached. As I see it price spikes are bouncing off 21 and body off 8. MACD is showing red and if we move just a little bit further down we are out of the trend line.

This trade is only just starting to show candle close not for another 3 hours and 20 mins.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd2.gif Size: 23 KB
  • #10,258
  • Jan 10, 2008 7:57am Jan 10, 2008 7:57am
Quoting brettboz
Hello, just wanted to check Im getting the hang of this method. I have what appears to me a possible TC trade setting up on E/U. My chart is attached. As I see it price spikes are bouncing off 21 and body off 8. MACD is showing red and if we move just a little bit further down we are out of the trend line.

This trade is only just starting to show candle close not for another 3 hours and 20 mins.
Bret this is exactly what i'm looking at now - i'll let you know my findings
  • #10,259
  • Jan 10, 2008 8:03am Jan 10, 2008 8:03am
On the 4H its now got a big tail and red macd is on the verge of being green. We still have 2 hours to close. Needs to come down some from here and then it probably makes it too big a stop to take on close (am I right???), so looking for retrace before shorting?????
  • #10,260
  • Jan 10, 2008 8:07am Jan 10, 2008 8:07am
Looks like we have a TC signal forming on the 4hour - although the 1 hour doesn't give confirmation. Waitin to see what happens, it has bounced off the trend line and the .78 retracement.

SEE ATTACHED

Waiting for confirmation
Attached Image (click to enlarge)
Click to Enlarge Name: TC.jpg Size: 830 KB
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