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4 Hour Strategy (MACD)

  • #13,281
  • Mar 31, 2008 11:10am Mar 31, 2008 11:10am
Quoting dhalsim
hi, Phillip
glad to see you, for me it is a habit that I listened your mp3 before sleep

you said that tail is part of 4H MACD Rhythm,
but I could not find a mp3 that focus on tails,
could you give me a mp3 and tell me how you see the tails in terms of Rhythm?

thanks!

Dhalsim
There is nothing special about them. When they occur at key support or resistance levels like the one today you take it purely on motion as the damage was allready done by the spike upwards. The document on Tsunami contains details of spikes if I remeber correctly.
  • #13,282
  • Mar 31, 2008 11:26am Mar 31, 2008 11:26am
Quoting Phillip Nel
There is nothing special about them. When they occur at key support or resistance levels like the one today you take it purely on motion as the damage was allready done by the spike upwards. The document on Tsunami contains details of spikes if I remeber correctly.
I think I must go over 13 lessons for another time,
yes, it is in lesson2 and lesson10,
thank you Phillip, you are always so kind!

dhalsim
Success is the small sum of efforts, repeated day in and day out.
  • #13,283
  • Mar 31, 2008 11:30am Mar 31, 2008 11:30am
Quoting dhalsim
I think I must go over 13 lessons for another time,
yes, it is in lesson2 and lesson10,
thank you Phillip, you are always so kind!

dhalsim
On top of the page there is a "search this thread" button. Go there and type tails. there are a lot of posts about tails.
  • #13,284
  • Edited 3:02pm Mar 31, 2008 11:33am | Edited 3:02pm
i sold eu also but i thought it is not part of this system so i didnt post it.
now i see phillip's post and now i post it
edit: i went to BE after just 15pips ,because i didnt feel good with this one and get out at BE
Attached Image (click to enlarge)
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  • #13,285
  • Mar 31, 2008 12:44pm Mar 31, 2008 12:44pm
Quoting bshadroo
i sold eu also but i thought it is not part of this system so i didnt post it.
now i see phillip's post and now i post it

Hey, that's cheating! Just kidding

Thanks for posting that Phillip. That is a subject that I have totally overlooked; tails and breakouts.

Just a word here:

soce PM'd me about pivots and I just want to share few things here. I'll use Pivots and Fib#'s in many ways like we all do: to use as profit targets, s/r areas, or to move stops. Specifically, I usually plot the Fibs (from the most recent high to most recent low) on the 4hr chart and the pivots on the 1hr charts. Because of the tighter..compression?.. on the 4hr charts the pivots can looked too squished together and to me they look a lot better on the 1hr. Since the 1hr bars represent more 'movement' during that 4hr bar there is a lot of information on the 1hr chart that can be seen using the pivots. I know that different people use pivots for different times of day and all of our pivots can look a little different but still it's good to have 'something' on your chart as a roadmap to give you some kind of idea of what to do when price reached a certain area. In addition to the ma's, trendlines,...I think the pivots on the chart, even though it can make things look a little busy, at least give you a hard target to shoot for instead of just guessing at a profit target. I've gotten into the habit that if I have an xx profit target I always subtract x amount of pips to increase the 'hit probability' just a little more. I've had a number of trades that were successful only because of that reason. But, if the pivot (I'm talking about the R's and S's here too) too far for a profit target I do lesson that target for the higher probability hit. When I mention the word pivot, Fib#, s/r line, etc...this is always and area, not an exact number. So, if I mention that fact that I 'think' price is headed to the 50% retracement number at 1.5000 I see this as 1.5000 +/- so many pips depending on the timeframe. The longer the timeframe the larger the +/- factor.

Just my 2 pips on a slow trading day during my 'lunch half-hour'.....
  • #13,286
  • Mar 31, 2008 1:32pm Mar 31, 2008 1:32pm
Hi Palmer,
May I ask which Indicator do you use for the Pivot?

I have a bunch of them with different numbers,So was wondering may be you could give us one of the best ,Please.

Thaks
Mike
Failure, is a wonderful teacher!
  • #13,287
  • Mar 31, 2008 1:53pm Mar 31, 2008 1:53pm
Hi All

Pips was up for grabs today. My trigger finger was way to rusted, just could not seem to be confident enough to make the deals. At the moment though i am short EU (live) Have a nice pip week.
  • #13,288
  • Mar 31, 2008 1:55pm Mar 31, 2008 1:55pm
Mike here's the Pivot indicator I use.

Looking at the EU:

The 1hr is heading down to the support line and the 89. This 'area' is the same 'area' as the 21 on the 4hr. This might be setting up for a TC back to the upside per the 4hr direction.

Of course this will all happen when I'm at the gym or buying more 'floor stuff'...

That short is from a 5min entry so disregard it...
Attached Image
Attached File(s)
File Type: mq4 MultiplePivotsV2.mq4   26 KB | 519 downloads
  • #13,289
  • Mar 31, 2008 5:51pm Mar 31, 2008 5:51pm
Hi Phillip,
I have a question for you from your 28 March Daily Wrapup, post 13235.
You have marked a possible trade entry on the GBP/USD with a blue square (your picture is below).
Can you please explain how this compares with the EUR/USD 27 March 08:00 candle. Here also there is a long tail testing 8/21 area. By the same thinking as the G/U situation, would you have taken this failed trade?

Thanks,
Ben
Attached Image (click to enlarge)
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Attached Image
  • #13,290
  • Mar 31, 2008 6:52pm Mar 31, 2008 6:52pm
Quoting Palmer
I just think of this as 'continuing education'....
Palmer,
Do you mind if I ask you what you do for a living... your other job. I ask because you mentioned contin. ed and it sound like a similar field to mine. Just wondered whether I had a fellow colleage?
Raymond
  • #13,291
  • Mar 31, 2008 7:16pm Mar 31, 2008 7:16pm
Huge thread wow. I've been demoing this system for abut 3 weeks now and have gained about 300 pips. Not bad but I find myself simply basing my trades off of the MACD and shapes haha. I don't like it and I can't help but have the lucky bird screaming in my ear saying well.... your lucky. Ok anywho I hear and i'm reading much on market rhythm and i'm struggling to grasp it. Any pointers when it comes to understanding this technique better? I understand that watching the different moving averages but what exacly do they mean in correlation with a trade? Does it identify a trend? (obvious I know) I'm sorry for my green question but I guess everyone starts somewhere. Thanks for any info you guys have to help

J
Lets do this...
  • #13,292
  • Mar 31, 2008 7:21pm Mar 31, 2008 7:21pm
Buy @ 1.5761
SL @ 1.5720
TP1 @ top of the range (1.5820 there about) and second lot for free ride in case it breaks upward. i will watch closely and move to BE as soon as possible.

I took this trade base on the doji formed on 38.2 fib which confluence with the bottom of the range. 89 on 1h and 21 on 4hr.
Attached Image (click to enlarge)
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,293
  • Mar 31, 2008 7:48pm Mar 31, 2008 7:48pm
Quoting Morelands
Palmer,
Do you mind if I ask you what you do for a living... your other job. I ask because you mentioned contin. ed and it sound like a similar field to mine. Just wondered whether I had a fellow colleage?
Raymond
Raymond:

I don't mind you asking at all.

I don't do this for a living...yet, working on it though. What I meant by continuing education is that even after 12 years or so of on-off-on-off-on for good now that I'm still learning. Phillip's method here just really set in with me for THE method that I want to trade on the longer term charts. It fits me because I can't watch the markets all the time. It's as simple as that...
  • #13,294
  • Mar 31, 2008 7:57pm Mar 31, 2008 7:57pm
Quoting jcminvest
Huge thread wow. I've been demoing this system for abut 3 weeks now and have gained about 300 pips. Not bad but I find myself simply basing my trades off of the MACD and shapes haha. I don't like it and I can't help but have the lucky bird screaming in my ear saying well.... your lucky. Ok anywho I hear and i'm reading much on market rhythm and i'm struggling to grasp it. Any pointers when it comes to understanding this technique better? I understand that watching the different moving averages but what exacly do they mean in correlation with a trade? Does it identify a trend? (obvious I know) I'm sorry for my green question but I guess everyone starts somewhere. Thanks for any info you guys have to help

J
J: If you look at ejiexe's chart up there you'll see a ranging market that is just 'stuck', it isn't going anywhere. Now, look at the EURUSD chart from about Feb 20th - March 16th. See how the flow of the market is in a nice upward trend and the pullbacks to the 21 area (entries) would have made a few mortgage payments. Price is in a uptrending channel and the MACD gave a few good zero bounces as well. Price is reacting according to plan. The rhythm is the overall picture of the flow of the trend over time and how price action reacts with the trend, trendlines, and s/r areas...the bigger picture if you will, not just a single price bar.
  • #13,295
  • Mar 31, 2008 8:04pm Mar 31, 2008 8:04pm
Thanks Palmer for the help great to see that you experienced guys look out for the newbs. I love it and can't thank you enough. So now that the Euro is flowing around 0 would we be best to wait and stay out untill we see which way the market will go? Would we say go long if the markey bounces off of zero again because the market in general is a Bullish market? It looks like the Eur has broken it's uptrend around march 18. Just wondering what you expeirenced guys do in a situation like this. Also I have found that some of my trades have gone bad due to weird spikes.... how do I stay away from them or is it just tough luck? Thanks again


J
Lets do this...
  • #13,296
  • Mar 31, 2008 8:51pm Mar 31, 2008 8:51pm
Quoting BenStevo
Hi Phillip,
I have a question for you from your 28 March Daily Wrapup, post 13235.
You have marked a possible trade entry on the GBP/USD with a blue square (your picture is below).
Can you please explain how this compares with the EUR/USD 27 March 08:00 candle. Here also there is a long tail testing 8/21 area. By the same thinking as the G/U situation, would you have taken this failed trade?

Thanks,
Ben
GBPUSD blue square is a pullback to the breakout level,
and after that candle close, H1 chart give a TC signal,
so I think that is the entry.

EURUSD chart I think there is no good reason to enter,
also GBPUSD RR ratio is better than EURUSD at that time.

dhalsim
Attached Image (click to enlarge)
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Success is the small sum of efforts, repeated day in and day out.
  • #13,297
  • Mar 31, 2008 9:13pm Mar 31, 2008 9:13pm
Quoting dhalsim
GBPUSD blue square is a pullback to the breakout level,
and after that candle close, H1 chart give a TC signal,
so I think that is the entry.

EURUSD chart I think there is no good reason to enter,
also GBPUSD RR ratio is better than EURUSD at that time.

dhalsim
I have a trend line (see red arrows) on my daily which may be what is providing support.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd33108.csv.gif Size: 31 KB
  • #13,298
  • Mar 31, 2008 9:26pm Mar 31, 2008 9:26pm
Quoting Morelands
I have a trend line (see red arrows) on my daily which may be what is providing support.
I think that the trend line is broken,
and according to the Rhythm of the market,
price close below and pull back to 21, and price(shown by the red arrow) give a TC downwards,
and I anticipate another down move on GBPUSD,
maybe It goes this way.

dhalsim
Attached Image (click to enlarge)
Click to Enlarge Name: 08401gbpusd2.gif Size: 20 KB
Success is the small sum of efforts, repeated day in and day out.
  • #13,299
  • Mar 31, 2008 9:38pm Mar 31, 2008 9:38pm
Quoting dhalsim
I think that the trend line is broken,
and according to the Rhythm of the market,
price close below and pull back to 21, and price(shown by the red arrow) give a TC downwards,
and I anticipate another down move on GBPUSD,
maybe It goes this way.

dhalsim
I agree with your market motion, I'm just wait for TC on my MACD and more confirmation with price movement. Are you currently in the trade?
  • #13,300
  • Mar 31, 2008 9:58pm Mar 31, 2008 9:58pm
Quoting Morelands
I agree with your market motion, I'm just wait for TC on my MACD and more confirmation with price movement. Are you currently in the trade?
I have no trade now, and I do not trade GBP H4
GBPUSD chart above is just my opinion, not my trade

may pips with you!
dhalsim
Success is the small sum of efforts, repeated day in and day out.
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