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4 Hour Strategy (MACD)

  • #11,341
  • Feb 6, 2008 9:47am Feb 6, 2008 9:47am
Quoting 6pack
A bearish engulfing pattern is a reversal signal, it must come after an uptrend.
Hello guys and old friend, I come to follow this thread again after a while.
I was watching the e/u situation and didnt take the short, mostly becouse I dont like that signal after 0.45 ,,, now waiting for the TC signal.
See ya
  • #11,342
  • Feb 6, 2008 9:48am Feb 6, 2008 9:48am
... I forgot, a special Hello to Phillip!! ciao
  • #11,343
  • Feb 6, 2008 10:01am Feb 6, 2008 10:01am
Hi guys!
I can see a nice round bottom on eur usd that is going to go through the -45 line. 365 ema previously showed to be a good support...so , if im not wrong everything suggests to go long on countertrend...insnt it?

Thanx for ur comments in advance!
  • #11,344
  • Feb 6, 2008 10:16am Feb 6, 2008 10:16am
well 4 hour cndle just closed (my MT4 is set on gmt though i live in italy)
and i went long after a retrace to 38.2 fibo at 1.4651 so:

buy 1.4651
S L 1.4628 (61.8 fibo of last candle)
T P 1.4700 area ((round price and 89 sma - we have both there)

It's my first trade with 4hourmacd method!!!

So any comment and advice are very welcome!!

Thank you all!
  • #11,345
  • Feb 6, 2008 10:23am Feb 6, 2008 10:23am
Quoting corvogrigio
well 4 hour cndle just closed (my MT4 is set on gmt though i live in italy)
and i went long after a retrace to 38.2 fibo at 1.4651 so:

buy 1.4651
S L 1.4628 (61.8 fibo of last candle)
T P 1.4700 area ((round price and 89 sma - we have both there)

It's my first trade with 4hourmacd method!!!

So any comment and advice are very welcome!!

Thank you all!
hope ur first trade works... but ...i think 4660(50% fibo) is strong level now and price is below 200 and 89 and u should hope it breaks all of them up .just my suggestion for u if u r new to this sytem ,take the TC trades ,they are more easy to trade at the begining.please read more lessons of phillip for more succes.
good luck
  • #11,346
  • Feb 6, 2008 10:51am Feb 6, 2008 10:51am
Info
Attached Image (click to enlarge)
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  • #11,347
  • Edited 11:17am Feb 6, 2008 11:06am | Edited 11:17am
Okay got up at 1:45 did not see anything, was 1/2 a sleep well the rest is a loss lol.

Shorted @ 1.4606
Stopped @ 1.4666 -60 total.

I am not a AM person and really screwed this one up. I will just trade my time zone for now on The worst part is I told myself about waiting on the 8/21ma in my charts I posted yesterday. Dumb mistake but I am not mad just laughing because I dono why I took that trade.

P.S. I am looking for a TC trade still on the EUR and GBP but will not wake up at 2:00am to take it
Keep taking CT trades, I need more money
  • #11,348
  • Feb 6, 2008 11:08am Feb 6, 2008 11:08am
Quoting bshadroo
hope ur first trade works... but ...i think 4660(50% fibo) is strong level now and price is below 200 and 89 and u should hope it breaks all of them up .just my suggestion for u if u r new to this sytem ,take the TC trades ,they are more easy to trade at the begining.please read more lessons of phillip for more succes.
good luck

Hey starting to sound like me! I like it.
Keep taking CT trades, I need more money
  • #11,349
  • Feb 6, 2008 11:20am Feb 6, 2008 11:20am
Hi everyone,

I think the pound is setting nicely. Old Support appears to be turning into resistance around the 600 area.
Attached Image (click to enlarge)
Click to Enlarge Name: pound short potential.gif Size: 18 KB
  • #11,350
  • Feb 6, 2008 11:21am Feb 6, 2008 11:21am
Quoting Phillip Nel
Info

thanks master with your chart e/u i find answer from your chart(my question page 755),i take trade from macd signal TC but to close with mayor support.and please your comment more detail.thanks again



"Together More Better than Alone"
  • #11,351
  • Feb 6, 2008 11:23am Feb 6, 2008 11:23am
Thank you Phillip for your daily wrapups!
I learn each and everyday from you!
  • #11,352
  • Feb 6, 2008 11:23am Feb 6, 2008 11:23am
Quoting Ryanmcd
Okay got up at 1:45 did not see anything, was 1/2 a sleep well the rest is a loss lol.

Shorted @ 1.4606
Stopped @ 1.4666 -60 total.

I am not a AM person and really screwed this one up. I will just trade my time zone for now on The worst part is I told myself about waiting on the 8/21ma in my charts I posted yesterday. Dumb mistake but I am not mad just laughing because I dono why I took that trade.

P.S. I am looking for a CT trade still on the EUR and GBP but will not wake up at 2:00am to take it
its usually hard to post wrong trades , but its wonderfull ,its help more that winning trades , there is alot of things to learn in them. as u know some peolple say:i'm up 1000pips now and they never post it when they enter , and sometimes they wait and see what happend ,if goes right then post them ) and there is nothing to learn in them.
any way ,thx for posting ur trade and would u plz tell me your commend about my 2 questions in privious page? thx
  • #11,353
  • Feb 6, 2008 11:23am Feb 6, 2008 11:23am
Quoting Ryanmcd
Okay got up at 1:45 did not see anything, was 1/2 a sleep well the rest is a loss lol.

Shorted @ 1.4606
Stopped @ 1.4666 -60 total.

I am not a AM person and really screwed this one up. I will just trade my time zone for now on The worst part is I told myself about waiting on the 8/21ma in my charts I posted yesterday. Dumb mistake but I am not mad just laughing because I dono why I took that trade.

P.S. I am looking for a CT trade still on the EUR and GBP but will not wake up at 2:00am to take it

Been There, Did That! LOL

A while back I thought I was missing alot of action in the wee hours and I did the same thing. Pretty much looking at a blurry screen and trying to force a trade that wasn't there so I could set it and go back to bed. I need all my wits about me and a huge cup of coffee before I get started in the morning.
  • #11,354
  • Feb 6, 2008 11:24am Feb 6, 2008 11:24am
Quoting Palmer
Hey people:

I went with Rosenthal Collins Tradeview for the new account. Submitted the account forms last night so I should be up and running in a day or so. I'm out of town all next week so I'll be back in the swing starting the week of the 18th.

Hello to all of the new faces!
Hi Palmer,

It's the first time I am hearing about this broker.Are they good?
Would you tell us about them if you don't mind.I know you work in financial field and choose the best.

Regards
Mike
Failure, is a wonderful teacher!
  • #11,355
  • Feb 6, 2008 11:28am Feb 6, 2008 11:28am
Quoting mike1349
Hi Palmer,

It's the first time I am hearing about this broker.Are they good?
Would you tell us about them if you don't mind.I know you work in financial field and choose the best.

Regards
Mike
I got their sales call last week. They're a part of RC group so you can be sure they're gonna be reputable. The spreads on the demo are pretty high though, also didn't show many pairs, so not great if you're into the exotic crosses.
  • #11,356
  • Feb 6, 2008 11:34am Feb 6, 2008 11:34am
Quoting bshadroo
hi
whould u (phillip or other traders) please answer my 2 questions?
u enter the trade right after the h4 candle close. 25 to 30 pip take profit in 50% and then set the rest to BE and and stay in as long as posibble.
first Q:do u enter again in a better price if price hits ur second half BE stoploss?(because sometimes i miss one trade and price comes up(for long) 30 pips and the comes down again to initial place and i say myself :if philip has take this position his second half BE stoploss would hitted now and its not good to enter )
second Q:how long do u stay in a trade if price doesnt go ur desired direction?i mean do u stay long if ur first TP doesnt hit after 4hours and the next macd bar become red without any important change in the rhytm?

BTW our family is growing every day:
Currently Active Users Viewing This Thread: 58 (29 members and 29 guests) bshadroo, >Apocalypto<, Gabe, Tiki Trader, InForTheHaul, oscar, exitand4getit, JimDandy, Ted1983, eroyh, kc8flq, 6pack, kelvinjones, WvG, pipaholic, LordElessar, Pipsqueek, scarlet, smnitro1, Hookem28, saka, shreem, OldDog, FX Return, Phillip Nel, juang, vette1974, kdmezzo, ayour2a

Most of the time I hold the full position for +40-60, most moves are good for this much, sometimes I will clost 1/2 at 50 and put my stop @ cost. I also do like to put stop @ cost when +25 if I can, I like to watch the BB to see where to get out most of the time, or MA's. The hardest part for me now is knowing when to get out of the trade and I have had this problem for years but remember this "You will not go broke making money"
Keep taking CT trades, I need more money
  • #11,357
  • Feb 6, 2008 11:46am Feb 6, 2008 11:46am
Quoting mike1349
Hi Palmer,

It's the first time I am hearing about this broker.Are they good?
Would you tell us about them if you don't mind.I know you work in financial field and choose the best.

Regards
Mike
I will be opening an account with RCG as well.
I have been looking into this broker for a while now and I just got off the phone with them. The straight through processing in up and running but is very new but they are a very well capitalized broker and they have a great rep. $2500.00 to open and I was just informed they will off microlots!!
Whats not to like?
  • #11,358
  • Feb 6, 2008 12:24pm Feb 6, 2008 12:24pm
hi
whould u (phillip or other traders) please answer my 2 questions?
u enter the trade right after the h4 candle close. 25 to 30 pip take profit in 50% and then set the rest to BE and and stay in as long as posibble.
first Q:do u enter again in a better price if price hits ur second half BE stoploss?(because sometimes i miss one trade and price comes up(for long) 30 pips and the comes down again to initial place and i say myself :if philip has take this position his second half BE stoploss would hitted now and its not good to enter )
second Q:how long do u stay in a trade if price doesnt go ur desired direction?i mean do u stay long if ur first TP doesnt hit after 4hours and the next macd bar become red without any important change in the rhytm?
sorry i post it again , i think it lost in new pages. if phillip or any one trade with this style asnwers can help me alot
  • #11,359
  • Feb 6, 2008 12:25pm Feb 6, 2008 12:25pm
Written copy for those with difficulty understanding spoken English.
Attached File(s)
File Type: doc PhillipNel Daily WrapUp 6Feb2008.doc   7 KB | 505 downloads
  • #11,360
  • Feb 6, 2008 12:28pm Feb 6, 2008 12:28pm
Quoting OldDog
Written copy for those with difficulty understanding spoken English.


Thanks my brother
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