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4 Hour Strategy (MACD)

  • #11,501
  • Feb 10, 2008 6:14pm Feb 10, 2008 6:14pm
Quoting jren07
Very appreciated for your help. I like to use MACD_colored_v104, and only differnce of v102 and v104 is that v104 has different variable levels automatically. Coud you make a
macd_colored_v104_output_early as well? I upload the indicator and comments for your reference.

Jenny

Jenny,

I added the code but haven't test it.
Attached File(s)
File Type: mq4 MACD_Colored_v104_Output_Early.mq4   17 KB | 790 downloads
  • #11,502
  • Feb 10, 2008 9:10pm Feb 10, 2008 9:10pm
It's going to be interesting to watch the Euro tomorrow. It's wedged between a long-term bullish TL (daily chart) and a short-term bearish TL.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd daily.gif Size: 26 KB
Click to Enlarge Name: gbpusd 4h.gif Size: 24 KB
  • #11,503
  • Feb 10, 2008 9:23pm Feb 10, 2008 9:23pm
Price of GU is currently sitting on a very strong bullish support which in the past TL was a major resistance for bullish run. A good long entry for couple of hundred pips, maybe? Take a look at the circles.

#As for correlated pair, Euro is also sitting on a strong bull support.
Attached Image (click to enlarge)
Click to Enlarge Name: GU support.jpg Size: 356 KB
  • #11,504
  • Feb 10, 2008 9:35pm Feb 10, 2008 9:35pm
I went long with EURUSD at the open today and short with USDCHF. I opened 3 lots with each. 1st for 50 pips TP, 2nd for 100 pips TP (SL set at BE if 1st TP achieved), and 3rd for a home run (SL set at 2nd TP and will close at signs of reversal).
  • #11,505
  • Feb 10, 2008 10:10pm Feb 10, 2008 10:10pm
Quoting wazzuvius
I went long with EURUSD at the open today and short with USDCHF. I opened 3 lots with each. 1st for 50 pips TP, 2nd for 100 pips TP (SL set at BE if 1st TP achieved), and 3rd for a home run (SL set at 2nd TP and will close at signs of reversal).
I'm also dumping USD at the moment. Bought EURO and CAD (which means sell usd/cad)
  • #11,506
  • Feb 10, 2008 11:35pm Feb 10, 2008 11:35pm
Quoting hijackxx
I'm also dumping USD at the moment. Bought EURO and CAD (which means sell usd/cad)
The 1.4560-1.4570 level is a strong resistance area so be careful with longs:

1) It is the 4H 21EMA
2) It is the 38% Fib of the daily ranging action from Nov that ended a strong weekly trend & the daily has being in a corrective cycle since.
3) It is also the 62% fib level of Fridays down move

Price will either bounce from this level and hint a 4H TC is forming or if this level breaks I will no long be eyeing for TC short. If price breaks this level I will wait a day or two for a pullback as it heads back to the 89.

If you are long keep an eye at this price level and position your trade so you can't lose.
  • #11,507
  • Feb 11, 2008 12:46am Feb 11, 2008 12:46am
Quoting maxster
The 1.4560-1.4570 level is a strong resistance area so be careful with longs:

1) It is the 4H 21EMA
2) It is the 38% Fib of the daily ranging action from Nov that ended a strong weekly trend & the daily has being in a corrective cycle since.
3) It is also the 62% fib level of Fridays down move

Price will either bounce from this level and hint a 4H TC is forming or if this level breaks I will no long be eyeing for TC short. If price breaks this level I will wait a day or two for a pullback as it heads back to the 89.

If you are long keep an eye at this price level and position your trade so you can't lose.
I basically took all that into account except I took the risk NOW, based off of the most recent bounce of the trend line, that gradual uptrend. Something similar to Jan 22 and the week prior. I, too, thought about waiting for confirmation of the 89 but I guess I'm trying to squeeze a few more pips out of this trade if I can. I'm shooting for long term though. This is more of a daily trade for me, rather than 4H. My SL is around 80-100 pips below entry.
  • #11,508
  • Feb 11, 2008 12:47am Feb 11, 2008 12:47am
Quoting maxster
The 1.4560-1.4570 level is a strong resistance area so be careful with longs:

1) It is the 4H 21EMA
2) It is the 38% Fib of the daily ranging action from Nov that ended a strong weekly trend & the daily has being in a corrective cycle since.
3) It is also the 62% fib level of Fridays down move

Price will either bounce from this level and hint a 4H TC is forming or if this level breaks I will no long be eyeing for TC short. If price breaks this level I will wait a day or two for a pullback as it heads back to the 89.

If you are long keep an eye at this price level and position your trade so you can't lose.
Thanks maxster, I really appreciate your comment. And what I am trying to trade here are the longer time frame S&R. There could be a rebound on the 21 EMA and goes back down which I observed before and does happens.
What I like on EU is that price is showing signal to go back up, and if it does, it might go back up flying high to the resistance level.
And I do have to consider on your view to the bear continuation there, as there are still many resistance for bull run.
  • #11,509
  • Feb 11, 2008 1:36am Feb 11, 2008 1:36am
thx phillip,jim dandy and ryanmcd for the answer
ryan:i think another solution is to trade with microlots .then 500pip=50$ just like u r tradig h4 but more waiting and waiting in it
  • #11,510
  • Feb 11, 2008 1:55am Feb 11, 2008 1:55am
Quoting hijackxx
I'm also dumping USD at the moment. Bought EURO and CAD (which means sell usd/cad)
I'm on the same boat.
  • #11,511
  • Feb 11, 2008 2:16am Feb 11, 2008 2:16am
Quoting forexmoments
I'm on the same boat.
Both trades?
  • #11,512
  • Edited 3:32am Feb 11, 2008 3:12am | Edited 3:32am
Hello everybody! Im so glad be here, read your posts and learn Phillip Nel's great system! Today was my 1 trade: short USD/JPY 107.08. (+35 pips only coz my emotions got me) Should learn more
  • #11,513
  • Feb 11, 2008 3:39am Feb 11, 2008 3:39am
Quoting eol
Hello everybody! Im so glad be here, read your posts and learn Phillip Nel's great system! Today was my 1 trade: short USD/JPY 107.08. (+35 pips only coz my emotions got me) Should learn more
Hi there eol.. congrats on your first trade. Hope you will get on to the system as fast as you can.

Enjoy,
hijackxx
  • #11,514
  • Feb 11, 2008 4:04am Feb 11, 2008 4:04am
i sold eu at 4540 sl 70 base on h1. 1-a doji befor that with a touch on 4580 level and 2-breaking the lower TL and 4545 level made me do that.my h4 will close after 1 hour.any comments are appreciated
Attached Image (click to enlarge)
Click to Enlarge Name: e1.gif Size: 33 KB
  • #11,515
  • Feb 11, 2008 4:17am Feb 11, 2008 4:17am
Quoting bshadroo
i sold eu at 4540 sl 70 base on h1. 1-a doji befor that with a touch on 4580 level and 2-breaking the lower TL and 4545 level made me do that.my h4 will close after 1 hour.any comments are appreciated
Beautiful evening star pattern!
  • #11,516
  • Feb 11, 2008 4:26am Feb 11, 2008 4:26am
Quoting bshadroo
i sold eu at 4540 sl 70 base on h1. 1-a doji befor that with a touch on 4580 level and 2-breaking the lower TL and 4545 level made me do that.my h4 will close after 1 hour.any comments are appreciated
Here's my view on the EURO longer timeframe:
1. Price broke the TL and stayed above the TL (black),
2. MACD is blue (bullish), it did went red though for a couple of minutes.

So my analysis is still on the bull run.
Good luck for both of us..
Attached Image (click to enlarge)
Click to Enlarge Name: different view 4hr buy position.gif Size: 20 KB
  • #11,517
  • Feb 11, 2008 4:40am Feb 11, 2008 4:40am
i just wait for TC /CT on eu ,if price close below21 ema i will short (TC),if price close above 21 ema wait for pulback to it and i will long.patience is the best for the game.thanks






"Together More Better Than Alone"
  • #11,518
  • Feb 11, 2008 4:54am Feb 11, 2008 4:54am
Quoting hijackxx
Here's my view on the EURO longer timeframe:
1. Price broke the TL and stayed above the TL (black),
2. MACD is blue (bullish), it did went red though for a couple of minutes.

So my analysis is still on the bull run.
Good luck for both of us..
i have the same your black TL but mine looks different.if u draw it with h1 bars its looks different and more reliable
Attached Image (click to enlarge)
Click to Enlarge Name: e1.gif Size: 38 KB
  • #11,519
  • Feb 11, 2008 5:20am Feb 11, 2008 5:20am
Hi! It's for a time I'm learning this method and I'm reading this forum. First say thanks to everyone who help here, Phillip Nel specially.

I've a question. Sometimes you speak about TC or CT. I saw on some of you on yours MACD some letters that I can't see on my graphics. What exactly means that?

I'm waiting in EU and UJ to confirm the break or pull back on supports and ressitance. For me it's early to enter.

Thanks in advance.
  • #11,520
  • Feb 11, 2008 5:43am Feb 11, 2008 5:43am
Quoting Zuir
Hi! It's for a time I'm learning this method and I'm reading this forum. First say thanks to everyone who help here, Phillip Nel specially.

I've a question. Sometimes you speak about TC or CT. I saw on some of you on yours MACD some letters that I can't see on my graphics. What exactly means that?

I'm waiting in EU and UJ to confirm the break or pull back on supports and ressitance. For me it's early to enter.

Thanks in advance.

TC=trend countinuos
CT=counter trend

please read again from page 1 ,ok.its very important all things about market rythem.
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