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4 Hour Strategy (MACD)

  • #11,381
  • Feb 6, 2008 9:55pm Feb 6, 2008 9:55pm
Not a problem. I primarily do it that way, b/c I sometimes get up for the overnight bar (when I set an alarm for a specific TC I'm looking at) and prefer it closes at 3AM, since I've noticed a lot of action between 2am and 3am... 2AM markets typically dead, 3am different story.... Plus 6AM is too damn early if one gets up at 3

Quoting Ryanmcd
Thanks for the chart info, Now I will only miss the 3am and catch the 11pm and 7am bars That was my biggest problem anyway.
  • #11,382
  • Feb 6, 2008 10:13pm Feb 6, 2008 10:13pm
Eric, my charts look exactly like yours (same closing times I believe), but your v104 MACD is giving different signals than my v103 MACD. Did you change the speed of the MACD?

I am staying out with all the news tomorrow (GBP, USD, etc.).

I am going to start getting up at 2 AM CST, and then when the bar closes again at 5 AM CST.

It is worth it to catch the moves.
  • #11,383
  • Feb 6, 2008 10:26pm Feb 6, 2008 10:26pm
How do you add the indicator, I dont know how to add it
2008 C63 Benz coming soon !!!!
  • #11,384
  • Feb 6, 2008 11:52pm Feb 6, 2008 11:52pm
just went short on eurgbp
enter 7459
looking for profit at 200
SL 7470

broke the 89
came back end found resistance at 8 and 21
going down again
TC signal on macd
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 27 KB
  • #11,385
  • Edited 1:49am Feb 7, 2008 12:10am | Edited 1:49am
Quoting Ryanmcd
Anticipating 4H TC is why you have a good chance of losing on this trade. Nothing says get long, DO NOT front run trades unless you like losing money.
Ryan,

Appreciate your advice as I am farily new to this thread - and please continue to post your critique on my trades as I am now live starting this year after months of work with Phillip's system. But please keep in mind that everyone is different and have their own style of trading Phillip's 4H Rhythm. And I would encourage everyone to find their style while keeping in mind the heart of Philiip's system.

However this entry is 100% in my trading plan - I plan all of my entries on the 1H going with the 4H rhythm - and to me the 4H trend is clearly up. Beyond this trade 80% of the time I would like to see a candle close above 1.0983 or above the 38.2 fib with an established base - indicating momentum has shifted to the upside. However I have seen these retrace patterns many times bouncing of the support fib and will occasionally plan to enter aggressively at the bounce if the opportunity presents itself after a well formed support base - I would plan to exit 50% at the test of previous high and set stop below the swing low - this will help me position my trade at worst case breakeven. Again like you said when one spend lots of time with the charts certain things will come - this is just one of those things that came me.

Ericthepip,

I did not enter where you indicated because to me there was no supporting base. On these long 1H retraces I will enter only when there is a visible strong support base - it tells me the pullback is over and 4H trend can resume. To the untrain eye these support bases on the 1H look very confusion but combined with a trending 4H pullback to the 21 they are highly accurate - it is pretty much the only setup I look for - 4H TC with 1H support base entry.


CHF trade update:

- Exit 50% at retest of last high at 1.0980 (+16)
- SL set to 1.0949
- When price breaks 1.0004 I will trail last bar low
  • #11,386
  • Feb 7, 2008 2:06am Feb 7, 2008 2:06am
Nope, 5 13 and 1 are the parameters (Fast/slow/signal)

Quoting unlv_tj
Eric, my charts look exactly like yours (same closing times I believe), but your v104 MACD is giving different signals than my v103 MACD. Did you change the speed of the MACD?

I am staying out with all the news tomorrow (GBP, USD, etc.).

I am going to start getting up at 2 AM CST, and then when the bar closes again at 5 AM CST.

It is worth it to catch the moves.
  • #11,387
  • Feb 7, 2008 2:08am Feb 7, 2008 2:08am
If you got in at the bottom near a trend line, then this may be worth it, right now, for me 3:00 am candle close, its too close to 1.1000 level, and too close to possible resistance trend line. Im staying out. R:R doesnt feel right, and the upcomming news may throw a wrench at the thing.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 25 KB
  • #11,388
  • Feb 7, 2008 2:14am Feb 7, 2008 2:14am
use insert/indicator/custom and choose it in MT4, but....

you first have to download the .mq4 file from the thread the place it in /progam files/MetaTrader 4/experts directory on your computer. Make sure mt4 is closed when you place the file....

Quoting Castillo2264
How do you add the indicator, I dont know how to add it
  • #11,389
  • Feb 7, 2008 2:42am Feb 7, 2008 2:42am
I have set my software to trail SL at last 4H Low updated houly.

Hopefully it will catch some pips when I wake up need to sleep now.
  • #11,390
  • Feb 7, 2008 2:43am Feb 7, 2008 2:43am
Quoting BenStevo
Thanks! I think a lot of it is just time as well. Just working out what is a good setup and what isn't has taken some time, but I am definitely seeing improvement (like looking back at old trades, shaking my head and wondering why I even looked at them!). For other people still grappling with the whole thing, I have really found it useful marking all Phillips trades on my charts - I can scroll thru them and get a feel for what works and what doesn't. It makes a big difference having all the trades visually infront of me.

the breakout didn't come during the asian session. now you can see the importance of getting a good entry price, taking partial profit and going BE asap. obviously it was a premature entry.
  • #11,391
  • Feb 7, 2008 2:46am Feb 7, 2008 2:46am
dear hijackxx
i couldnt attach the image in private .forgive me ,i attach it here look at the blue and red ways for a completion of my message.in weekly/monthly all of that way is just a correction and we can call all of them CT ,but when u zoom in h4 ,there is significant TC CT's.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 34 KB
  • #11,392
  • Edited 3:08am Feb 7, 2008 3:03am | Edited 3:08am
hi
i can see a flag pattern in uj.if price breaks the lower upTL and macd give me a sell signal i'll enter.i'm not a very long term trader ,but i can see if it breaks something big will happends.
pipsi cola:thx for answer
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 43 KB
  • #11,393
  • Feb 7, 2008 3:27am Feb 7, 2008 3:27am
Quoting Pipsi cola
the breakout didn't come during the asian session. now you can see the importance of getting a good entry price, taking partial profit and going BE asap. obviously it was a premature entry.
Everything looked good , it should have developed through Asian session, but it stopped at previous support, strange , maybe because of news. I would have taken this setup if it occured in the morning (mine of course GMT +3), but it came late in the evening, so I stayed out as I don't like a trade to be open over night on yen.
  • #11,394
  • Feb 7, 2008 4:58am Feb 7, 2008 4:58am
Hi,
well the GU started falling, so are you guys thinking about exit point??
maybe previous support at 9460
  • #11,395
  • Feb 7, 2008 5:17am Feb 7, 2008 5:17am
Quoting bshadroo
hi
i can see a flag pattern in uj.if price breaks the lower upTL and macd give me a sell signal i'll enter.i'm not a very long term trader ,but i can see if it breaks something big will happends.
pipsi cola:thx for answer
take a peek
http://www.forexfactory.com/news.php?do=news&id=68977
  • #11,396
  • Edited 12:14pm Feb 7, 2008 5:52am | Edited 12:14pm
Quoting Borism
Hi,
well the GU started falling, so are you guys thinking about exit point??
maybe previous support at 9460
Hi,

I'm short on G/U too. I don't plan on exiting yet because I count
on an interest rate cut at 12:00 gmt. I've set the trade on a large trailing stop
and may close manually depending on the momentum after news.

a good exit point would be at TL around 1,9520 ... it could also be a good entry point for news



Regards
  • #11,397
  • Feb 7, 2008 6:47am Feb 7, 2008 6:47am
IRA, Thank you very much for the constructive comments. I'm a student here. I saw the consolidation you referred to and closed out my long position to make 11 pips. You gave good advice that helped me think for myself how to re-evaluate the probabilities. Its also that you were exactly right and I took 35 more pips in a short position. =0)

Quoting ira
OK Gabe, look at your chart again and tell me is there really rhythm. The red one is 89, right? The price is dancing all over it together with 21 and 8. Look on the left, there is beautiful rhythm off the 8 and 21 MA, and then price broke the 21, retraced to it and went to the 89 - that is rhythm too.
Let's have a closer look at your trade, the price just broke through the 89, so what are you looking for, retracment to it what is happening now, I guess, and then TC down. It will also give time for 21 and 8 come down. The price has broken through 89, so we are in a down trend.
Yes, it may go through 89 up again, if price didn't finished it's ranging period (when it dances around 89, it's range), but wait for 89 to show support. At this moment 89 is resistance.
In range you can also trade from channel, but I'm not good at it yet.

Sooo, hope this helps.

PS I don't trade this pair, but the rhythm is everywhere ))
We are our own greatest enemy.
  • #11,398
  • Edited 7:58am Feb 7, 2008 7:04am | Edited 7:58am
i went short on h1 chart.
edit :stoped out
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 34 KB
  • #11,399
  • Feb 7, 2008 7:29am Feb 7, 2008 7:29am
Well did not get up at 2 and cought the move I did not post it due to having different charts then phillip but I wanted to put it up now so you can see.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 207 KB
Keep taking CT trades, I need more money
  • #11,400
  • Feb 7, 2008 7:29am Feb 7, 2008 7:29am
My laptop died I will be sitting on the sidelines today good luck everyone.
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