4 Hour Strategy (MACD)

Quoting soce

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Hello all. I have been reading this thread now for a week but this is my first post. I have spent countless hours going through every lesson and most of the posts. In all, I estimate that I got through everything in about 60 hours in case anyone reads this and wonders how long it takes to cover all this information.

I want to say thanks to Phillip for taking on this en devour of sharing his method with the rest of us. Then spending all the countless hours with all the follow up is really amazing.

While there are many things that I don't fully understand and need to spend countless hours myself studying and back testing, the #1 question that I still have after reading through all of this is how do I handle Risk/Reward calculations when trading with the trend when you are at a new high and there aren't any walls around to bounce off of? Basically the market that we are in now with the EUR. When one enters off of a 21 EMA for example, where should one's target even be?

Thanks to everyone who contributes here and I hope to as well in the short future as I get to spend more time now testing now that I have read through everything and all the examples.

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Quoting ashes

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Hi,

we have oversold levels on 4h and daily chart on eur/usd
there is also large macd divergence on 4h. possible corrective move next week.
stay tuned and enter according to 4hmacd-system and marketmotion rules.

any suggestions?

Regards

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Quoting soce

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Hello all. I have been reading this thread now for a week but this is my first post. I have spent countless hours going through every lesson and most of the posts. In all, I estimate that I got through everything in about 60 hours in case anyone reads this and wonders how long it takes to cover all this information.

I want to say thanks to Phillip for taking on this en devour of sharing his method with the rest of us. Then spending all the countless hours with all the follow up is really amazing.

While there are many things that I don't fully understand and need to spend countless hours myself studying and back testing, the #1 question that I still have after reading through all of this is how do I handle Risk/Reward calculations when trading with the trend when you are at a new high and there aren't any walls around to bounce off of? Basically the market that we are in now with the EUR. When one enters off of a 21 EMA for example, where should one's target even be?

Thanks to everyone who contributes here and I hope to as well in the short future as I get to spend more time now testing now that I have read through everything and all the examples.

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Quoting soce

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Both of your replies are appreciated and I understand them. (although I have no history at all with pivot lines or how to use them. is there a study on here that i somehow missed that could explain this?)

Regardless, neither answer helps me when calculating Risk/Reward I don't think. Meaning, I understand what you are saying for how to place/chase the market with stoploss, but where do I "expect" the market to go in order to determine a good/bad risk/reward factor in order to place the trade in the first place?

Thanks for the help, I hope you understand what I am asking here. I know how to do it if I can find a trend wall but until the upper channel is set, there is no upper channel wall. Perhaps the answer is not to trade a breakout at all if you miss the breakout until the upper channel wall (resistance) forms?

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Quoting maxster

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Best target to use is the external fib retracements of 1.382 and 1.62 of the previous visible 1H swing or the previous 4H swing. Phillip uses these very often - and they are surprisingly accurate.

I finally got away from the Ontario, Canada cold weather!! :>)) Will try to put on a few high proability trades this month as I will be in sunny Dominican Republic for the rest of the month and just got high speed internet rehooked up in our villa.

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Quoting Palmer

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Excellent question....

When the market is running at new highs, where do you take a profit? There are a few things you can do for a target. You could use a simple 20/25 target, half way to the previous high, 1/3 to the high 2/3 to the high...and/or at the previous high. Also, if there is longer term trendline that is near that can be used also. Fib #'s, pivots...there are a lot of choice when we are in this area and it all really comes down to your own discretion....

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Quoting maxster

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Best target to use is the external fib retracements of 1.382 and 1.62 of the previous visible 1H swing or the previous 4H swing. Phillip uses these very often - and they are surprisingly accurate.

I finally got away from the Ontario, Canada cold weather!! :>)) Will try to put on a few high proability trades this month as I will be in sunny Dominican Republic for the rest of the month and just got high speed internet rehooked up in our villa.

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Quoting Phillip Nel

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Info

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Quoting dhalsim

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Thank you, Phillip
you teach everything in trading all the time!

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Quoting bshadroo

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hi dear phillip
would u please answer aiuha5's"3, I am not sure whether you missed the little question on post #12363 last week. Could you help answer it here? " question
i wanted to enter that trade but i didnt because of large stoploss.
i hope i dont bothering u.

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Quoting Phillip Nel

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Hi.
I just went through my account and this is the trade I did. My R:R was from 1.5140 to 1.5200 with stoploss 1.5100 with a R:R of 1:1,5. I cant remember what happened as the graph I have posted show stoploss at 1.5080. That was the safest place as it was below the previouse candle low but on the deal itself I have put stopless at 1.5100.

The price went to 1.5198 and started to retrace therefore my closure at 1.5184

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Quoting mark r

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Hi Phillip,

firstly thanks for a fantastic system and thread!

I am looking at my chart for Cable and can see plenty of opportunities I could have taken- if I had only read this earlier. I also feel as though I have got to grips with the basic principles although I haven't traded the system yet on my live account

I would really appreciate a second opinion on my interpretation of the current sceanario which is:

1) we are clearly in a strong up trend (well above the 89 and other MAs
2) we are near the top of a trendline but there is still upside potential
3) the market rhythm could see it ready to pull back 30 pips or so to the 8 may be looking lower for the 21
4) there has been a VT but it hasnt moved downward after giving a MACD signal on 7th which could indicate that it will move higher

My humble analysis when the market opens next week:

1) I wouldn't risk a counter trend trade at this stage- with the upside momentum
2) If the price moves higher and a green bar appears on the MACD it could be traded as a continuation signal
3) If the price moves lower I will wait until it moves below the 8 down to the 21 area and wait for the price to kick back up again

In other words at this stage I intend to wait for a continuation signal to jump onto the up trend

My first profit target would be the previous high at 2.0210- as to whether the trade is taken it would be a matter of looking at the Risk/Reward profile when the signal appears

I dont expect anyone to tell me what to do here- I would just be grateful if someone could let me know if I am on the right lines!

Have a good weekend all of you

Kind regards,

Mark
(UK)

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