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4 Hour Strategy (MACD)

  • #12,061
  • Edited 9:06am Feb 21, 2008 8:48am | Edited 9:06am
Quoting bshadroo
possible TC in loonie.let it to be formed
Second that.
I'm on your side...

Edit: Bought the loonie.
  • #12,062
  • Feb 21, 2008 9:01am Feb 21, 2008 9:01am
Quoting rc2008
Members and Friends,

I had a trade on GBP/USD yesterday based on higher low on 4H MACD. Below is the scenario:

1. Long Entry @ 1.9412
2. Profit target is between 8EMA and 21EMA, price level 1.9460 pips. 48 pips target.
3. Stop loss @ 1.9379. 33 pips.
4. Trade close @ 1.9452, Time: Feb 21, 6:41AM. When I saw 25 pips up, I cancelled my limit order and I put my trailing stop 20 pips off of market price before went to sleep. It stopped me at 1.9452 (40 pips gain). In the morning I saw it is trading in the price range of 1.9580 – 1.9597. I need to figure out how to make more profit situation like this. Any suggestion from you will be apprciated. Trailing stop feature is not really working for me. I would post the setup chart but I have not figured out how to post chart.
Thanks,
Rahim
rc: If you could post chart with the time you entered that would help.

But, if you can enter with multiple lots and set profit target per lot it makes things a little more manageable. There are some scripts on the website that will let you enter 3 separate positions at once. Look for the RapidFire trading scripts...

To post a chart, scroll down from the post textbox here. Click on the manage attachments tab and load up your charts. They can be no larger than 600x600...
  • #12,063
  • Feb 21, 2008 9:11am Feb 21, 2008 9:11am
Quoting hijackxx
Second that.
I'm on your side...

Edit: Bought the loonie.
my h4 closed without TC signal.where did u buy?
  • #12,064
  • Feb 21, 2008 9:13am Feb 21, 2008 9:13am
I'm in loonie also at 1.0129.
  • #12,065
  • Edited 9:41am Feb 21, 2008 9:16am | Edited 9:41am
Quoting bshadroo
my h4 closed without TC signal.where did u buy?
Mine closed @0.9189 with blue signal

edit: this is audusd trade.. confused myself..
  • #12,066
  • Feb 21, 2008 9:32am Feb 21, 2008 9:32am
Quoting hijackxx
Mine closed @0.9189 with blue signal
oh ,thats audusd,i mean usdcad
  • #12,067
  • Feb 21, 2008 9:34am Feb 21, 2008 9:34am
Quoting maxster
When one is trading from the 4H - looking at the daily rhythm gives a hint of direction bias. But if you also look to the 1H swing rhythm it will aid in your entries.

But look at my GBP trade this morning - I call this my 1st reject entry on the minor swing perfect bounce. If one can understand what price is doing on the 4H then see the price playing out on the 1H - one can pin point the entry.

Basically you look at the daily for a direction bias - then once the 4H is setting up for a TC the 1H will be in a corrective price movement. You can safely enter when a price swing satifies the rhythm. To me in order to objectively define the rhythm I use fibs - the 8ema is 32% and the 21 is 62%.

A swing has satisfy the rhythm when it bounces perfectly. Look at the red line swing and the star formation - that is a perfect bounce or time to enter.

Call me nuts by looking at the daily, 4H, 1H and yet a smaller cycle the 1H minor swing. But I hope some of you see what I just posted - it is truly the key to price movement. Because in order for the 4H move to continue there has to be a TC rhythm bounce on a smaller timeframe. If you entered yesterday on the 4H MACD your entry is not ideal. In a corrective cycle the ideal time is when a price swing has shown a perfect bounce - this is a strong indication the 4H move will now continue. I believe what I just posted is what the experienced traders can see - or if they can't see but feel. It is so simple yet so hard to see.
very exprienced insight. From your past posts, you used Fib to filter bad 4h TC signals, and to enter order on better positions in 1 H, or to exit it. In your charts, you always have Intraday fibs and Swing fibs. How do you define their Highs and Lows? Did you use last swing in 4 H for intraday Fibs and previous day's High and Low for Swing fibs? It takes time to name two Fibs' levels, how do you do this so easy, by some indicator? Your practical guideline is very helpful. My understanding is to use Daily chart for direction , and to use fibs from 4 H last swing and 1 H previous day's swing to confirm Rhythm. Would you give some comments.

Thanks,

Jenny
  • #12,068
  • Feb 21, 2008 9:45am Feb 21, 2008 9:45am
Quoting bshadroo
oh ,thats audusd,i mean usdcad
argh yes.. the loonie.. im confusing myself here. I'm watching both aus/usd and usd/cad pairs, because both were showing a come and go TC signals.
  • #12,069
  • Feb 21, 2008 9:50am Feb 21, 2008 9:50am
Info
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Gbp Breakout Trade.GIF Size: 58 KB
Click to Enlarge Name: EurUsd.GIF Size: 45 KB
Attached File(s)
File Type: zip Daily Wrapup 21 Feb2008.zip   803 KB | 1,393 downloads
  • #12,070
  • Feb 21, 2008 10:03am Feb 21, 2008 10:03am
Very risky because it was breakout trade. Should have waited for a pullback and then move away.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 22 KB
  • #12,071
  • Feb 21, 2008 10:05am Feb 21, 2008 10:05am
Thanks Phillip....again.

Not sure why the EU is running up like is.
  • #12,072
  • Feb 21, 2008 10:14am Feb 21, 2008 10:14am
Quoting Palmer
Thanks Phillip....again.

Not sure why the EU is running up like is.
Just had a feeling this morning that 1.4700 is going to be tested again therefor my decision to set remainder at -30(1.4687). It worked out well . Have currently remainder at 1.4770. I like your 1hour trades. Advanced trading but it shows that if you see the rhythm you can do well in 1Hour.
Phillip
  • #12,073
  • Feb 21, 2008 10:24am Feb 21, 2008 10:24am
Info
Attached Image (click to enlarge)
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  • #12,074
  • Feb 21, 2008 10:24am Feb 21, 2008 10:24am
Wow, Phillip. thanks for so much detail explanation,
No trade on euro for GMT , inverted hammer and then the loooong candle. will wait for a nice setup.
Attached Image (click to enlarge)
Click to Enlarge Name: euro no trade today.jpg Size: 202 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #12,075
  • Feb 21, 2008 10:26am Feb 21, 2008 10:26am
Quoting BIL2205
Wow, Phillip. thanks for so much detail explanation,
No trade on euro for GMT , inverted hammer and then the loooong candle. will wait for a nice setup.

Thanks. I see it did not show nice emotion except for the tail from the 365 yesterday. I also played it safe with the +30 -30 situation to give the remainder a chance. It worked out for me.
  • #12,076
  • Feb 21, 2008 11:06am Feb 21, 2008 11:06am
Quoting Phillip Nel
Info
ah.. your jurnal looks better than mine. I still have bad trades in it. I have to filter bad trades starting next month. I like it when you post your trades here, really motivates me..
  • #12,077
  • Feb 21, 2008 11:08am Feb 21, 2008 11:08am
ok.here is the Break out.Now we should wait for pull back and move away, I guess
Attached Image (click to enlarge)
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Failure, is a wonderful teacher!
  • #12,078
  • Feb 21, 2008 11:17am Feb 21, 2008 11:17am
I got stopped out of Usd/Cad. Entered off TC/zero bounce. It wasn't in the positive of the MACD by much (.00006) so maybe I should not have taken it since the signal wasn't too strong. I saw there was a tail but it still didn't look too bad when I took it. I still think this was a good trade that just had a bad result. Any other opinions? I am still in Aus/Usd from yesterday (+40 so far) so that is helping with this loss.
Attached Image (click to enlarge)
Click to Enlarge Name: uc.gif Size: 23 KB
  • #12,079
  • Feb 21, 2008 11:59am Feb 21, 2008 11:59am
Quoting mike1349
ok.here is the Break out.Now we should wait for pull back and move away, I guess

I will wait for further direction indication and confirmation
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 27 KB
  • #12,080
  • Feb 21, 2008 12:13pm Feb 21, 2008 12:13pm
Quoting BIL2205
Wow, Phillip. thanks for so much detail explanation,
No trade on euro for GMT , inverted hammer and then the loooong candle. will wait for a nice setup.
Hi Nad

I am also waiting patiently for a nice TC signal. I also see that large candle and on my 4h line - I said NO to myself. I had to fight hard not to take 2 or 3 other CT signals and I didn't take one. Wow, I am proud of myself (must say it myself).

However, I had a few nice trades on Phillip's 5min system - just to keep me going.

I am with you waiting for a nice setup - don't feel alone.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080221 4h eur.gif Size: 19 KB
Willem Forex recipe for success = Patience, discipline & hard work.
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