4 Hour Strategy (MACD) | Page 565 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

4 hour strategy (the nausbot - 4 hour trader) 25 replies

4 Hour Strategy Macd+other Indicator 21 replies

X-1102 1 hour , 4 hour and daily Tf trades 7 replies

Create a verticle line at certain hour for every certain hour 16 replies

Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies

Attachments: 4 Hour Strategy (MACD)
Exit Attachments

4 Hour Strategy (MACD)

  • #11,281
  • Feb 5, 2008 1:59pm Feb 5, 2008 1:59pm
I too live in the EST. I used to get up at 2AM as well, which is when the euro market opens. I found that setting alarms (above/below) the market is the way to go. But it you must get up, 3AM is better, giving the market another hour to show it's hand. Also working best for me is finding a data feed where the bars end at 3am, 7am, 11am, 3pm, etc...


Quoting shreem
Hello Dear Ryanmcd, well I do understand your frustration. I have miss all trades also. I live in Est time and wake up last night at 01:55am to see setup on Euro for the 02:00 am candle (mig chart) and didn't saw any clear signal to go short or long.

Well! I am still not strong as Phillip and did not have recognized the round top on price on the 4H chart of the Euro and eventhough MACD gaves a signal, I have not taken it.

Good point, contrary to the past, I have not jump on a trade later just because I have miss a previous one. So, improvment on this side

Great for all who great pips today.

Will continue practice patience to get the next high porbability setup

Sincerely

Shreem
  • #11,282
  • Feb 5, 2008 2:11pm Feb 5, 2008 2:11pm
Quoting EricthePip
I too live in the EST. I used to get up at 2AM as well, which is when the euro market opens. I found that setting alarms (above/below) the market is the way to go. But it you must get up, 3AM is better, giving the market another hour to show it's hand. Also working best for me is finding a data feed where the bars end at 3am, 7am, 11am, 3pm, etc...
Hello Dear EricthePip, nice first name as my true first name is also Eric. Good sugggestion about waking up at 03:00am instead of 02:00am. As I am still working full time from 08:00am to 16:00pm EST, it is not easy to wake up at 02:00 and go sleep after again.

So maybe sleeping early and waking up at 03:00est can be a good alternative.

If I find a demo broker chart for these hours, will definetely tell you about it

Thank

Sincerely

Shreem
  • #11,283
  • Feb 5, 2008 2:16pm Feb 5, 2008 2:16pm
Quoting EricthePip
I too live in the EST. I used to get up at 2AM as well, which is when the euro market opens. I found that setting alarms (above/below) the market is the way to go. But it you must get up, 3AM is better, giving the market another hour to show it's hand. Also working best for me is finding a data feed where the bars end at 3am, 7am, 11am, 3pm, etc...

Who do you use for charts? I am still using the free mig stuff and it works fine. I have no problem paying for data just never really looked into forex data.
Keep taking CT trades, I need more money
  • #11,284
  • Feb 5, 2008 2:27pm Feb 5, 2008 2:27pm
Quoting Ryanmcd
Who do you use for charts? I am still using the free mig stuff and it works fine. I have no problem paying for data just never really looked into forex data.
I'm just using MT4 with MIG, MVP, or Interbank for a demo account (free charts). I have very few connection problems. I also have an Alpari(UK) Ltd demo account on my work laptop. I'm using MIG right now, but have used MVP or Interbank to try to get the bars to end at 3AM...

I trade with Oanda, which I like, except for lack of trailing stops... low spreads, without a large account...

I go back to bed at 3AM and sleep until it's time to go to work, but my schedule is flexible as I work from home when I don't have to travel for work...
  • #11,285
  • Feb 5, 2008 2:30pm Feb 5, 2008 2:30pm
Missed EUR trade early this morning also - very glad lots of folks caught it.

Patiently waiting for TC in both EURUSD and USDCHF -

Some thoughts I have are:
1. EUR is at 4630-50 area again with all 3 SMAs getting close so it may not give clear TC signals with interest rate coming thursday - I will enter TC short only if candle action look real good. Have a look at what hppened around Jan 16.

2. CHF has broken 89 and rules say pullback to 8/21 and move away - swissy appears to be in a slow downtrend (orange trendline) - I will take a TC long only if I can get a 1:1 RR on the first 50% PT a bit below the previous high of 1.1057 proably at 1.1048

Still waiting for my first trade for the week - it feels good that I can now wait for that perfect TC setup. My goal now is to simply catch 1 or 2 of these a week from the major pairs and not overtrade.
Attached Image (click to enlarge)
Click to Enlarge Name: 1h.gif Size: 24 KB
  • #11,286
  • Edited 2:45pm Feb 5, 2008 2:30pm | Edited 2:45pm
Quoting EricthePip
I'm just using MT4 with MIG, MVP, or Interbank for a demo account (free charts). I have very few connection problems. I also have an Alpari(UK) Ltd demo account on my work laptop. I'm using MIG right now, but have used MVP or Interbank to try to get the bars to end at 3AM...

I trade with Oanda, which I like, except for lack of trailing stops... low spreads, without a large account...
Hello Dear EricthePip, if I am not mistaken, FXDD which is also a MT4 broker where you can use their free charts, have the candle closing at 01:00am, 05:00am, 09:00am, 13:00pm, ect...

Need to confirm when I go home but I am pretty sure it is

Sincerely

Shreem
  • #11,287
  • Feb 5, 2008 2:31pm Feb 5, 2008 2:31pm
Quoting Phillip Nel
The EurGbp had a huge bar up and then a huge bar down. Clearly uncertainty. The only thing positive is that it has broke through the 89 and has pulled back to the 21 for a possible TC and it is on support of the up channel it is in. I will wait for a definite signal.

GbpUsd. All MA is getting together. Lots of emotion building up. Wait for clear direction.
Thanks philip for this reply. It always help new comers who is still learning the rhythm. Broke through the 89 and has pulled back to the 21 for a possible TC is part of the rules for sure but there are other things like emotion that has to be considered. I am sure your answer to this really help members alot. LOOK AT WHAT HAPPENED EVENTUALLY. YOU ARE GREAT.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #11,288
  • Feb 5, 2008 2:35pm Feb 5, 2008 2:35pm
[quote=Borism;1835938]Maybe you should move here with us in Europe
great time for today trades



I envy you guys trading over there in europe.
I trade all the way back here in Los Angeles.
All the profit trades happen after midnight.http://www.forexfactory.com/images/icons/icon9.gif
  • #11,289
  • Edited 3:47pm Feb 5, 2008 2:45pm | Edited 3:47pm
Please let me know. They don't come up in my MT4, but should be able to enter it under Tools/options in the server tab. May need an IP address from them??

Thanks,Er

Quoting shreem
Hello Dear EricthePip, if I am not mistaken, FXDD which is also a MT4 broker where you can use their free charts, have the candle closing at 03:00am, 07:00am, 11:00am, 03:00pm, ect...

Need to confirm when I go home but I am pretty sure it is

Sincerely

Shreem
  • #11,290
  • Feb 5, 2008 4:23pm Feb 5, 2008 4:23pm
Quoting EricthePip
Please let me know. They don't come up in my MT4, but should be able to enter it under Tools/options in the server tab. May need an IP address from them??

Thanks,Er
Hello Dear EricthePip, I have check FXDD time opening of 4H candles and they are as follow in EST time: 01:00am, 05:00am, 09:00am, 13:00pm, 17:00pm and 21:00pm all EST time.

So, people like me working during the day in ESt time can see if there is a potential trade in the night at 21:00pm or at 05:00am in the morning which is better than 02:00am or 03:00am as it is very early for waking up when you go to work in the morning.

Just throwing ideas here for people living in ESt time and having to work in the day but still want to trade this 4H method.

Let me know if you any other ideas on that.

Sincerely

Shreem
  • #11,291
  • Feb 5, 2008 6:01pm Feb 5, 2008 6:01pm
Hey guys. It looks like g/u might be giving off a nice round higher low signal. The risk isn't that bad and reward is 21ma then 89 isn't far off.

If you take a look at the daily chart you can see price was in a channel and broke out not too long ago, and now the top trend line of the channel might be support now.

I'll be keeping a eye on it in the following hours. What do you guys think about it?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.JPG Size: 129 KB
Click to Enlarge Name: hoursly.JPG Size: 131 KB
  • #11,292
  • Feb 5, 2008 6:13pm Feb 5, 2008 6:13pm
Quoting FxTex
Hey guys. It looks like g/u might be giving off a nice round higher low signal. The risk isn't that bad and reward is 21ma then 89 isn't far off.

If you take a look at the daily chart you can see price was in a channel and broke out not too long ago, and now the top trend line of the channel might be support now.

I'll be keeping a eye on it in the following hours. What do you guys think about it?
It does look good. But I will stick with the downward flow and TC only.
  • #11,293
  • Feb 5, 2008 6:23pm Feb 5, 2008 6:23pm
you were right

thanks once again, 89 failed on the yen

still fighting my impatience

Quoting Ryanmcd
It could work, That big bar is just so ugly
  • #11,294
  • Feb 5, 2008 7:15pm Feb 5, 2008 7:15pm
Guys, do you think the three tops in EUR are the 'three sisters'?

Rememeber what, Phillip said ' when see the three sisters confirmed with MACD, I will get in without a second thought' ~~
NEVER enter a trade JUST because you want to trade.
  • #11,295
  • Feb 5, 2008 7:28pm Feb 5, 2008 7:28pm
Quoting Palmer
As Ryan said, there is almost always a retrace. Do this, since the next higher timeframe is the daily chart, take a look there and see how those price bars are trending. If you want to hold this for as long as possible, that really means that the daily has to start trending your way also. Larger stops are needed on the daily which may mean sacrificing pips on the 4hr that you have open or already banked. One way to ride this is to place your stop above the 21. Now you need to start looking at this as a bear market and a retrace back to the 21 with a close above it may signal a trend change. But, I've had plenty of these trades where I have left a position open floating 70, 80, 100+ pips only to have them stopped out at break even. Those long runs do happen and there is no way to know when one is starting, this is where you have to start looking at the daily charts. I usually go in with 3 lots and try to milk one for all I can. But again, it usually comes back to even. My mentality has changed recently. Many people are happy with 20 pips a day so if you're up 100 then that is a week for most people.

Adding to a position:

This is where the BladeRunner may help, again pending the start of a run on the 8ema on the 4hr. But, adding to a position is all contingent on the 4hr trend so it may be a while before you can add. What you don't want to do is start looking at an even lower time frame such as the 30 or 15 min charts. Trading on these lower times means that your profit targets should be smaller. It's very hard to mix the 4hr and 5 or 15 min time frames to add positions. Be careful because adding positions can also end up taking profits away...
Hi Palmer,

This is something that I wanted to hear here. I am using 4H-MACD system for swing trades. To get +15 or +40pips I use 15min or 1h timeframes, but in a 4h time frame I am looking for 200 or 300 pips in 2 to 3 days (some times 4 to 5 days).
4H-MACD system give us nice entry points. this is one of its strengths. I don't want to discuss here other matters aside this system as fundamentals, etc. I just want to say that I am using a weekly plan and my target points are according to this plan. I think 4H-MACD system is a powerful system, giving strong entry points... and one can use it as swing trading system if you are going along with the trend (weekly or daily trend, not only short term trends).

For swing trades I am trying to develop other skills for exit points. In an study over 300+ weeks conducted last year, per example, I found that E/U hits his weekly R1 or S1 in 46% of cases. For those taking partial profits at 1.4658 yesterday, it was a good point to do that. If you want to wait for more... it is OK... perhaps more pips are coming. Today seems that 1.4660 area became resistance... there is a fib there...

I would like to suggest to find a good place to discuss how to use 4H-MACD system as swing trading system. Maybe, we could discover a gold mine.

just my thoughts!

Adrian
  • #11,296
  • Edited 8:55pm Feb 5, 2008 8:25pm | Edited 8:55pm
Hello Arodriguez,

You already have my friend (discovered a gold mine) in this thread!!!!....

Just a heads up, Palmer posted that his time is going to be consumed with some work related activity over the next week or so. He then will devote more time to the BladeRunner system, which uses market motion, much like this thread, however, in a different "time frame". Not sure if you've read his intro, but it's basically: Identification of a pair moving on the 8ema (that's trending >8/21/89/200, in the case of a bull) and use the one hour MACD TC patterns to establish a position at each TC until the 1hr crosses the 21 ema. This way larger positions can be acquired and held over time. Keeps us in the best (truely trending) markets longer and with smaller risk, adding to the position as the market pulls back(and letting the market tell us when to get out) See his web site for more details....

Eric



Quoting arodriguez
Hi Palmer,

This is something that I wanted to hear here. I am using 4H-MACD system for swing trades. To get +15 or +40pips I use 15min or 1h timeframes, but in a 4h time frame I am looking for 200 or 300 pips in 2 to 3 days (some times 4 to 5 days).
4H-MACD system give us nice entry points. this is one of its strengths. I don't want to discuss here other matters aside this system as fundamentals, etc. I just want to say that I am using a weekly plan and my target points are according to this plan. I think 4H-MACD system is a powerful system, giving strong entry points... and one can use it as swing trading system if you are going along with the trend (weekly or daily trend, not only short term trends).

For swing trades I am trying to develop other skills for exit points. In an study over 300+ weeks conducted last year, per example, I found that E/U hits his weekly R1 or S1 in 46% of cases. For those taking partial profits at 1.4658 yesterday, it was a good point to do that. If you want to wait for more... it is OK... perhaps more pips are coming. Today seems that 1.4660 area became resistance... there is a fib there...

I would like to suggest to find a good place to discuss how to use 4H-MACD system as swing trading system. Maybe, we could discover a gold mine.

just my thoughts!

Adrian
  • #11,297
  • Edited 10:12pm Feb 5, 2008 9:52pm | Edited 10:12pm
Took GU long @1.9653,
MACD shown a RB.
  • #11,298
  • Feb 5, 2008 11:22pm Feb 5, 2008 11:22pm
I'm in the GBP too. Same entry.
Stop 1.9616
TP 1.9697

If it makes it +25, I'll set it to BE.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 24 KB
  • #11,299
  • Feb 5, 2008 11:36pm Feb 5, 2008 11:36pm
went short on Swiss and cad for about +25 pips, i think that both pairs will test the 21 or 8 support
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 81 KB
Click to Enlarge Name: usdchf.jpg Size: 102 KB
  • #11,300
  • Feb 6, 2008 12:39am Feb 6, 2008 12:39am
Actually, I also took 2 long positions on EURO since price was 1.4639 and 1.4639 (only 1 pip difference), not according to the MACD though, but I consider them in a market rhythm.
I felt the rhythm, I consider them in a very good CT, then took the trade. Took the trade earlier when I saw price making support areas.

Hijackxx
57 traders viewing now