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4 Hour Strategy (MACD)

  • #12,101
  • Feb 22, 2008 12:04am Feb 22, 2008 12:04am
Quoting jren07
Thanks Maxster for your knowledge in price movement cycle. I should study it now. Can I find this topic in forums or somewhere? Hope you give more examples for upcoming trade in term of price movement cycle.

Jenny

There is a very good thread on fibs here at ff http://www.forexfactory.com/showthread.php?t=50767

In terms of price cycles - it is just a fancy term for price movement. I studied Elliott wave a long time ago and it talks extensively about trending moves - corrective moves so that helps.

But it is studying Phillip's trending rhythm that put everything together for me - and of course looking at charts for endless hours.
  • #12,102
  • Feb 22, 2008 12:45am Feb 22, 2008 12:45am
Maxster i also thank you for your explanation on how you use the fibs in conjunction with Phillips system. I have learnt about fibs previously but have never really known when to enter a trade after retracement. Thats probably why i ended up in Phillips system. So take the euro right now for example. On the 1h its bouncing off the 38% or the 21ma. Where would you enter this trade? When a candle breaks and closes above the last 1h high was what I was told when I learnt about fib trading. I hope Phillip doesnt mind these questions about fibs, but I think they certainly work in well with his great system.
  • #12,103
  • Edited 3:47am Feb 22, 2008 2:04am | Edited 3:47am
sold usdjpy at 107.30 SL:107.65
edit:out +30pips
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  • #12,104
  • Edited 2:25am Feb 22, 2008 2:14am | Edited 2:25am
Guy's I am not trying to rub any one up the wrong way with this post.

I have this to say about Fibb retrace trading. If you are using them great no probs go for it. but please remember they are nothing more then a guide and that's it! I have seen price hit a 50% or 61% sit a while and bounce to just keep on falling. I have seen it many times. Again I repeat use them look at them but don't base a trade on them alone. you need much more evidence to make your bet. I strongly believe patterns and pattern of trend is a key. I now also believe Phillips interpretation of rhythm to be another excellent way to look at a market, which I am still studying. from what i have learnt in the last two years is lead up to the current action is also very important. EW helps with this what wave is it. or what stage are we in weekly monthly daily 4 hour.

my thoughts. Phillip and others sorry for going a tad off topic.

for the fibb boys & girls what can u tell me about Phillips Moving average period numbers???
  • #12,105
  • Feb 22, 2008 2:54am Feb 22, 2008 2:54am
Quoting maxster
I too believe what I am describing is the core fundamental or foundation of price movement.
maxster, I will print out this post and some stuff in regard to the price movement cycle so that I can digest them in this weekend. Thanks a million.
Have a good weekend.
Rhythm, Motion, Emotion and Risk Reward.
  • #12,106
  • Feb 22, 2008 3:06am Feb 22, 2008 3:06am
E/U seems to be forming a 4H TC signal off the 8. I didn't really see any opportunities to get in early on the 1H (unless I am mistaken) the only sort of signal being an initial green 1H MACD a couple of hours ago but the market was very flat so I didn't really consider it.

We also got a 4H TC yesterday evening which I missed as I was out of the office, I haven't seen anyone talking about that did anyone take it??
  • #12,107
  • Feb 22, 2008 3:16am Feb 22, 2008 3:16am
Bought E/U from 1 hour, although I don't like 1 hour entries, but this time everything looks almost perfect (GMT+3), price rounding off the 8 MA and the tail to the 21 (1 hour MA's). Entry 1.4822 SL 1.4789 TP1 1.4866, the other will put on the trailing stop. Let's see how it's going to work.
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  • #12,108
  • Feb 22, 2008 3:54am Feb 22, 2008 3:54am
Quoting ira
Bought E/U from 1 hour, although I don't like 1 hour entries, but this time everything looks almost perfect (GMT+3), price rounding off the 8 MA and the tail to the 21 (1 hour MA's). Entry 1.4822 SL 1.4789 TP1 1.4866, the other will put on the trailing stop. Let's see how it's going to work.
Hi Ira

I was waiting for a TC on the 4h when I saw the move. I went to the 1h and saw that beautiful TC already formed. So I missed it and I don't believe in "late entries". So I'll give this one a miss.

I am also no yet comfortable with the 1H - still finding my way. But I think this one was a beauty.

(Luckily I made 10pips on Cable using Phillip's 5min system)

Great one!!!!!! and go for it.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #12,109
  • Feb 22, 2008 3:59am Feb 22, 2008 3:59am
Quoting Golfer
Hi Ira

I was waiting for a TC on the 4h when I saw the move. I went to the 1h and saw that beautiful TC already formed. So I missed it and I don't believe in "late entries". So I'll give this one a miss.

I am also no yet comfortable with the 1H - still finding my way. But I think this one was a beauty.

(Luckily I made 10pips on Cable using Phillip's 5min system)

Great one!!!!!! and go for it.
The 1H TC came before the spike down to the 21 on the 1H. That is why I wasnt sure of taking it or not. What probably gave things away were all those dojis (or near dojis) but again I wasnt sure so no trade so far. If looking for the 4H TC then that will likely come in a couple of hours but I guess we will have seen a good part of the move by then. Same happened last night though and the trade was good for around 40 pips.


Anyone following G/U at the moment, third attempt at the resistance trend line, doji looks to be forming on 1H and we have red 4H forming in overbought land....
  • #12,110
  • Feb 22, 2008 4:53am Feb 22, 2008 4:53am
Quoting bshadroo
sold usdjpy at 107.30 SL:107.65
edit:out +30pips
Look at my chart!!
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Failure, is a wonderful teacher!
  • #12,111
  • Edited 6:03am Feb 22, 2008 5:10am | Edited 6:03am
entered long on e/u @ 4840
stop @ 4815 (10 pips below previous 1h candle low)
going for the 4900 level (BE after 20 pips)

morning star on 4h.
on 30min price closed above 76.4 fibo level and pulled back to it. now moving away from it with two spinners. one could have waited for a more bullish move away confirmation.

edit: didn't like the price moving sideways for 1hour and closed the deal at BE. the motion went away what might be a signal of the end of the move.
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  • #12,112
  • Feb 22, 2008 5:17am Feb 22, 2008 5:17am
Confluence daily pivot and 38 Fib. perfect TC on 1H. Unfortunately I didn't trade.
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  • #12,113
  • Feb 22, 2008 5:38am Feb 22, 2008 5:38am
Quoting mike1349
Look at my chart!!
that was a h1 entry actually.i closed it and wait for a h4 siganl to reenter
  • #12,114
  • Feb 22, 2008 6:16am Feb 22, 2008 6:16am
Quoting >Apocalypto<
Guy's I am not trying to rub any one up the wrong way with this post.

I have this to say about Fibb retrace trading. If you are using them great no probs go for it. but please remember they are nothing more then a guide and that's it! I have seen price hit a 50% or 61% sit a while and bounce to just keep on falling. I have seen it many times. Again I repeat use them look at them but don't base a trade on them alone. you need much more evidence to make your bet. I strongly believe patterns and pattern of trend is a key. I now also believe Phillips interpretation of rhythm to be another excellent way to look at a market, which I am still studying. from what i have learnt in the last two years is lead up to the current action is also very important. EW helps with this what wave is it. or what stage are we in weekly monthly daily 4 hour.

my thoughts. Phillip and others sorry for going a tad off topic.

for the fibb boys & girls what can u tell me about Phillips Moving average period numbers???

Yes indeedy. I don't trade by them (for an entry) I more or less use them as s/r level with price action and/or a profit target area. In other words, I'm already in a position and use the Fib #'s as a probable road map to where price may be headed.
  • #12,115
  • Feb 22, 2008 7:35am Feb 22, 2008 7:35am
Look what happened around this level.
Pretty scary huh.
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  • #12,116
  • Feb 22, 2008 7:48am Feb 22, 2008 7:48am
Quoting >Apocalypto<

for the fibb boys & girls what can u tell me about Phillips Moving average period numbers???
come on guys no answers???
  • #12,117
  • Feb 22, 2008 7:49am Feb 22, 2008 7:49am
Quoting smnitro1
Look what happened around this level.
Pretty scary huh.
only if you were long! they were excellent short plays.
  • #12,118
  • Edited 11:19am Feb 22, 2008 7:51am | Edited 11:19am
sold again uj after some retracement based on h4
edit:closed +30
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  • #12,119
  • Feb 22, 2008 7:59am Feb 22, 2008 7:59am
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  • #12,120
  • Feb 22, 2008 7:59am Feb 22, 2008 7:59am
I must also stress that fibs are no more than a visual guide for S/R levels - I have said this many times. Again I use them only to aid is seeing S/R levels - my exact entry is still based on price action around those levels.

With today EUR - price made 2 bounces from the 32% level. I waited for price to retrace and bounce again on a minor swing to enter. If you look closely on what is happening it has nothing to do with fibs but simply waiting for a 1H minor swing to satisfy Phillip's trending rhythm on a still lower timeframe to confirm that the 1H bounce is valid. Have a look at the inset 30MIN - notice how it bounced from the 21EMA. Hope this makes sense.

Entry was at 1.4835 - SL at 4809 (the 62% level of the minor swing). I have already closed 50% for 20 pips and will trail other 50% using last 1H low.

Update: The other 50% was stopped out at 1.4831.
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