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4 Hour Strategy (MACD)

  • #12,561
  • Mar 6, 2008 11:47am Mar 6, 2008 11:47am
Quoting brettboz
Hi Phillip I just listened to the wrapup and I have a question. The G/U did the false breakout yesterday and then moved up and retraced back. The retrace back was 2 4H red candles both with green MACD. On the 1H there were 2 red bars then a doji (all red MACD) then a huge candle up which would have made R/R not very good on the trade.

So what I wonder about is where/what would have been the place to enter? The 1H doji looks promising but there is no MACD backup on the 1H and the 4H had hit the top trend line so could have looked as if it was simply not going to breakout to the other side.
Perhap I have a related question, as for G/U in 4H chart, there is a hammer with a long tail, which closed below 1.9955 resistance line. In 1H chart, the doji turned out to be an perfect entry point laterly. However, as I have been scared by the long tailed hammer in 4H chart, I did not involve in longing G/U. So how can I judge true or false breakout, thanks a lot!
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  • #12,562
  • Mar 6, 2008 11:51am Mar 6, 2008 11:51am
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  • #12,563
  • Mar 6, 2008 11:59am Mar 6, 2008 11:59am
Quoting macalmd
Perhap I have a related question, as for G/U in 4H chart, there is a hammer with a long tail, which closed below 1.9955 resistance line. In 1H chart, the doji turned out to be an perfect entry point laterly. However, as I have been scared by the long tailed hammer in 4H chart, I did not involve in longing G/U. So how can I judge true or false breakout, thanks a lot!
If you have 1.9955 as a top resistance line it means the price has not yet closed above that line and has not break out yet on the 4H. I had a triangle that made it a breakout trade.
  • #12,564
  • Edited 1:18pm Mar 6, 2008 12:09pm | Edited 1:18pm
Quoting Phillip Nel
Here we can use Chinese conversation?

I will catch you if you talk bad here. Only joking.

尼斯看到一些人的东风，线程以及。希望你的人作出了很多点子。
Hope you can understand this.
Phillip
I didn't know Phillip has started to speak chinese..
Btw i took a short USD/CAD just now. 0.9856
SL just above 21 and top resistance at 0.9880

PS: Will set to BE as soon as it get into 10+ pips. Tomorrow's NFP report could be a trouble

Any comment appreciated,
Hijackxx
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  • #12,565
  • Mar 6, 2008 12:35pm Mar 6, 2008 12:35pm
Quoting Phillip Nel
If you have 1.9955 as a top resistance line it means the price has not yet closed above that line and has not break out yet on the 4H. I had a triangle that made it a breakout trade.
Thanks a lot, I got it. There is a triangle, I am learning.
  • #12,566
  • Mar 6, 2008 12:58pm Mar 6, 2008 12:58pm
Hello everybody.

Would you consider take this trade if 4H close like this ? (short)

http://i30.tinypic.com/28hmr6d.jpg
4X is the biggest casino in the world...Open 24h Monday to Friday.
  • #12,567
  • Mar 6, 2008 1:10pm Mar 6, 2008 1:10pm
I am still fairly new here.. could some explain what the terms VT and VB mean. I don't recall reading about them in the original document. Are they potential counter trend signals similar to rounded bottoms and rounded tops?

Cheers
  • #12,568
  • Mar 6, 2008 1:11pm Mar 6, 2008 1:11pm
sold eurchf
u see the SL
any comments are apreciated
edit:if i have 20pips in 8 minutes its ok for me.so closed +20pips
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  • #12,569
  • Mar 6, 2008 1:17pm Mar 6, 2008 1:17pm
Quoting bshadroo
sold eurchf
u see the SL
any comments are apreciated
What broker do you use ? I see it's different than ODL.

4h candle closes 1 hour later/earlier.

Philip said that he is using ODL platform. So i don't know which is correct. My 4H candle will close in 42 mins.
4X is the biggest casino in the world...Open 24h Monday to Friday.
  • #12,570
  • Mar 6, 2008 1:23pm Mar 6, 2008 1:23pm
Quoting pipsy_2
What broker do you use ? I see it's different than ODL.

4h candle closes 1 hour later/earlier.

Philip said that he is using ODL platform. So i don't know which is correct. My 4H candle will close in 42 mins.
if ur h4 is closing in 42mins so ur using gmt platform.and i use MIG gmt+1
the brokers have different h4 closes (base on when the day starts for them)and we can see different h4 chart in them.
  • #12,571
  • Mar 6, 2008 1:32pm Mar 6, 2008 1:32pm
Quoting mike1349
Hi ,
I was wondering what is wrong here.As rule says when price breaks the 21(Candle 1) and then come back to 21(next candle) ,then it goes to 89(which we had green MACD),but it didn't happened.

Am I wrong somewhere with this rule?

Regards
mike
I've got a 5 minute window here...

I think I commented yesterday that I was watching this pair for a TC back down when price was at the 21.

Mike I was watching that pair last night for a TC back to the downside. The close above the 21 did catch my eye thinking that the trend might turn up a little but I still see that trade, in this case a close above the 21 back down to it then return to the upside, but I just see this pair as being bearish period. With the EU gettting stronger going long the Yen would have been a CT in my opinion. The method says that the price is supposed to do as you stated but there are those times, like these, when the trend is just too strong to go against. If we get a close below the 21 on the EU I wouldn't even think of going short if the price returned to the 21 and started to come back down. The US market is in the crapper and has control of the USD. That's about as much fundamental analysis I will ever put into a trade but sometimes the fundies have control of things.

Hope some of this helps.
  • #12,572
  • Mar 6, 2008 1:34pm Mar 6, 2008 1:34pm
Quoting macalmd
Thanks a lot, I got it. There is a triangle, I am learning.
There was nothing wrong to draw it as a channel the way you did. The approach to the trade would just be different. There was no pullback to the breakout level so no trade.
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  • #12,573
  • Mar 6, 2008 1:35pm Mar 6, 2008 1:35pm
Quoting bshadroo
if ur h4 is closing in 42mins so ur using gmt platform.and i use MIG gmt+1
the brokers have different h4 closes (base on when the day starts for them)and we can see different h4 chart in them.
Yes i know that but i'm confused which is better. You are already in the trade and i'm still waiting. It should be more specific rule for this. One strategy should be only for one time brokers. Am i right ?
4X is the biggest casino in the world...Open 24h Monday to Friday.
  • #12,574
  • Mar 6, 2008 1:40pm Mar 6, 2008 1:40pm
Quoting pipsy_2
Yes i know that but i'm confused which is better. You are already in the trade and i'm still waiting. It should be more specific rule for this. One strategy should be only for one time brokers. Am i right ?
hmmmm.....
actually ... this is one of my questios wich i always ask in this forum.but the thing i understand is maybe ur get in alittle bit later or sooner than other ,or maybe u can use h1 early entry to be in earlier and thats all i could answer .may be u should ask phillip if ur not satisfied
btw i closed the trade +20pips and waiting for a pullback to broken TL for reentry
  • #12,575
  • Mar 6, 2008 1:45pm Mar 6, 2008 1:45pm
Phillip would you be so kind and answer which time platform is better to use ?
4X is the biggest casino in the world...Open 24h Monday to Friday.
  • #12,576
  • Mar 6, 2008 2:07pm Mar 6, 2008 2:07pm
Quoting bshadroo
hmmmm.....
actually ... this is one of my questios wich i always ask in this forum.but the thing i understand is maybe ur get in alittle bit later or sooner than other ,or maybe u can use h1 early entry to be in earlier and thats all i could answer .may be u should ask phillip if ur not satisfied
btw i closed the trade +20pips and waiting for a pullback to broken TL for reentry
could some explain what the terms VT and VB mean.

Thanks
  • #12,577
  • Mar 6, 2008 2:44pm Mar 6, 2008 2:44pm
Hi ayour2a, a believe that Phillip calls VT and VB, aggressive turnaround. Usually the candle that gives this signal is a bigger one (maybe an enguilfin), compared to a round top (or bottom) where the reversal is smoother. You must decide if you will trade that because the SL may be too big.
I hope that helps.
  • #12,578
  • Mar 6, 2008 3:08pm Mar 6, 2008 3:08pm
Quoting bisar_x
Hi ayour2a, a believe that Phillip calls VT and VB, aggressive turnaround. Usually the candle that gives this signal is a bigger one (maybe an enguilfin), compared to a round top (or bottom) where the reversal is smoother. You must decide if you will trade that because the SL may be too big.
I hope that helps.
i really appreciate your reply.
  • #12,579
  • Mar 6, 2008 3:19pm Mar 6, 2008 3:19pm
Violent Bottom or Violent Top. Phil refers to them as aggressive turnarounds.
  • #12,580
  • Mar 6, 2008 5:30pm Mar 6, 2008 5:30pm
Quoting bshadroo
sold eurchf
u see the SL
any comments are apreciated
edit:if i have 20pips in 8 minutes its ok for me.so closed +20pips
Bank them when you can, I do.

Just a thought on the EU:

The 4hr is showing some divergence and we are at the top of the current channel. The daily isn't showing divergence. Indicators are in overbought territory but remember, indicators can stay overbought for as long as they want to. The only thing this says to me is that the 4hr will come back some but the daily will continue to chug along. Again, I've brought work home with me, extremely busy at work. Jobs report tomorrow forecast at 25K..even the forecast is doom and gloom...
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