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4 Hour Strategy (MACD)

  • #11,921
  • Feb 19, 2008 12:39pm Feb 19, 2008 12:39pm
I'm short G/U, taken from 1 hr TC and feeling bearish on 4hr. Tails down unable to push price up, hammer down off 8ema.

Using shorter tf's for 1st time so cautious. Already moved SL to BE and closed 1/2 at 1.9490. Will add in if price drops below IB level of 1.9482, but currently on free ride so see what happens!
May all your pips grow into great big fruitful trees
  • #11,922
  • Feb 19, 2008 12:45pm Feb 19, 2008 12:45pm
I like that one. But don't like these tails

I'm going short if the TC holds, but going to watch that rectangular area

Also a trend line around or about 1.9423 either could provide some support...


quote=Ryanmcd;1859214]Chart.[/quote]
Attached Image
  • #11,923
  • Feb 19, 2008 12:47pm Feb 19, 2008 12:47pm
Quoting EricthePip
I like that one. But don't like these tails

I'm going short if the TC holds, but going to watch that rectangular area

Also a trend line around or about 1.9423 either could provide some support...


quote=Ryanmcd;1859214]Chart.
[/quote]


YEP LOL, the tails are my only worry. I have a friend who is now just trading the 1hr stuff and doing well who took that eurgbp short
Keep taking CT trades, I need more money
  • #11,924
  • Feb 19, 2008 12:56pm Feb 19, 2008 12:56pm
Nice RT on 4H chart. Looks like it found mini resistance at price level 1.4740. My prediction is we may see it move down to 21ema.
Never enter a Trade without a STOP LOSS
  • #11,925
  • Feb 19, 2008 12:59pm Feb 19, 2008 12:59pm
Stop @ cost on the CT, time for lunch.
Keep taking CT trades, I need more money
  • #11,926
  • Edited 1:47pm Feb 19, 2008 12:59pm | Edited 1:47pm
Yeah, agree with you about the tails, that's why I'm already BE and keeping an eye on lower tf's at same time as 4hr. The 1 hr looked too good to pass up, and it's TC, so...nothing ventured, nothing gained!

Good luck with your trades guys, let's get some pips in the bag!

Edit: scaled out by another 1/2 at 1.9483. Still 1/4 in play, see where it goes, close to SL now so if I get hit at least I took some profit off the table when I had it!... and there it is, stopped.
Attached Image
May all your pips grow into great big fruitful trees
  • #11,927
  • Feb 19, 2008 1:00pm Feb 19, 2008 1:00pm
Phillip Nel, Daily Wrap Up 19Feb2008, written copy for those who have trouble understanding spoken English.

Edit: Page 794, post 11910 for chart.
Attached File(s)
File Type: doc PhillipNel Daily WrapUp 19Feb2008.doc   8 KB | 507 downloads
  • #11,928
  • Edited 2:31pm Feb 19, 2008 1:06pm | Edited 2:31pm
decided to go CT after some pullback to make R:R ok.i think 1-market have no enough power to break up at this time of the day and can make some retrace and 2-price reject the upchannel and 61.8%
edit: ok , i'm in now, short:4737 sl:4765 tp:4710
edit:out +9 pips i wanna sleep and 9pips is better than setting to BE
Attached Image (click to enlarge)
Click to Enlarge Name: eur1.gif Size: 31 KB
  • #11,929
  • Feb 19, 2008 1:34pm Feb 19, 2008 1:34pm
This is a very typical corrective/pullback cycle that is visible on the 1H.

Look at the 4H and how MACD gave false signals - if you entered on those signals you would enter at the extreme low swing of the 1H corrective cycle. All the veterans here use 4H candle emotions such as doji, small candles, etc to filter out these bad signals as well as R:R.

I have only 3 objective entry triggers and this one on the 1H I call the 4th Reject Entry - basically price has found heavy resistance and was rejected previously 3 times at a fib level of the last down move. This is somewhat of an aggresive entry because I use a limit order at the reject level - I placed the stop at the 62% fib level.

I am anticipating the 4H to continue the down trend but positioning my entry in sync with the lower TF 1H cycle. My other 2 entry triggers are based on the 1st to 3rd reject but require an additional support fib perfect bounce/reject from the last minor 1H swing.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1h.gif Size: 21 KB
Click to Enlarge Name: 2h.gif Size: 23 KB
  • #11,930
  • Edited 2:22pm Feb 19, 2008 1:58pm | Edited 2:22pm
Going to the wire on the B.Pound, not sure we'll get a TC...Showed the TC, short at 1.9484, SL 1.9520, TP1 9440, however, be watching the tails and most likely will take 1/2 off at 20-25 pips, setting the other 1/2 to BE at that time....

Nice set of tails on my platform off the 21 on the Usd/Jpy...
  • #11,931
  • Feb 19, 2008 2:10pm Feb 19, 2008 2:10pm
Dear friends,

I am going to open a live account very soon. Would you please recommend me some brokers ? Perhaps this question is out of the extent of this 4H-MACD thread. Anyway, it seems to me that people in this thread are more professional and warmhearted. So let me ask this question in another way, by which platform do you practise the state of art 4H-MACD technique?

Thanks a lot!
Macalmd
  • #11,932
  • Feb 19, 2008 2:33pm Feb 19, 2008 2:33pm
I would would presume the vast majority use MT4 for the platform, and I would also suspect that there is no clear majority that use one broker over another... I use MT4 (charting/analysis/alerts/etc) and Oanda (just for order placement)...

Quoting macalmd
Dear friends,

I am going to open a live account very soon. Would you please recommend me some brokers ? Perhaps this question is out of the extent of this 4H-MACD thread. Anyway, it seems to me that people in this thread are more professional and warmhearted. So let me ask this question in another way, by which platform do you practise the state of art 4H-MACD technique?

Thanks a lot!
Macalmd
  • #11,933
  • Feb 19, 2008 2:53pm Feb 19, 2008 2:53pm
The CT on the Euro looks tempting but I'll be a good boy and stick to my promise of only TC's. I already have 3 wins in a row the most I have ever had.
  • #11,934
  • Feb 19, 2008 2:57pm Feb 19, 2008 2:57pm
Quoting vette1974
The CT on the Euro looks tempting but I'll be a good boy and stick to my promise of only TC's. I already have 3 wins in a row the most I have ever had.
I am not in this for very long I did just short the GBPUSD as I said I would if I get a red a few posts back, and most of the time these move the same time.
Keep taking CT trades, I need more money
  • #11,935
  • Feb 19, 2008 3:26pm Feb 19, 2008 3:26pm
Ryan,
I understand I have about 1.5 hours left on my MACD signal for the GBPUSD it is dancing between red and green right now.
  • #11,936
  • Feb 19, 2008 4:08pm Feb 19, 2008 4:08pm
Hey guys i did see the TC on GU, but did not take it . The candles with support in that area worried me. So concerned about macd actually giving a higher low . so i did not enter. I did take a very small position on the EURO V top or round top. i know it is counter trend and i only stick to tc but it was in accordance with the rhythm and rules and RR was ok. still a very small position. Lets see. will keep a close eye .
Nadia.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu tc did not take.jpg Size: 197 KB
Click to Enlarge Name: euro ct taken today.jpg Size: 197 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #11,937
  • Feb 19, 2008 4:55pm Feb 19, 2008 4:55pm
As Phillip earlier said in his MP3 the moving averages for the USDCHF are very close about a 25 pip range. If you look back through the charts every time it gets that close the price takes off about 100 pips in either direction. Which way will it go? It should be interesting.
  • #11,938
  • Feb 19, 2008 5:07pm Feb 19, 2008 5:07pm
Quoting vette1974
The CT on the Euro looks tempting but I'll be a good boy and stick to my promise of only TC's. I already have 3 wins in a row the most I have ever had.

vette:

Glad to see that you have gotten past the barrier of pulling the trigger. In time the hardest part will be the analysis of the probable trade. Pulling the trigger will eventually be second nature.
  • #11,939
  • Feb 19, 2008 6:05pm Feb 19, 2008 6:05pm
Out of the EURUSD for a few, still short the GBPUSD

GBPUSD Short @ .9487 Stop @ .9540
Keep taking CT trades, I need more money
  • #11,940
  • Feb 19, 2008 6:55pm Feb 19, 2008 6:55pm
Short from 9484 here. about 20 pips profit, getting ready to get defensive...

Quoting Ryanmcd
Out of the EURUSD for a few, still short the GBPUSD

GBPUSD Short @ .9487 Stop @ .9540
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