4 Hour Strategy (MACD)

I was lucky my alarm on my computer didn't go off because I would have been nailed by the GBPUSD trade. The morning star and the nice long candle on the way down would have got me. Hopefully Phillip will chime in.

my eu trade because of the tails and after a close below the 5870 level,and h4 may give me a ct
edit: fast BE after 20 pips
edit:BE hitted and then falled 30 pips
my personal experience wich is proved several times:when u get in a profit more that 20pips in less than 10minutes ,close it

EU finally broke out, hope everyone made a few on that move...

Where have I been??? For the past, I don't know, several days, I've been working on an alert indicator for a smaller timeframe method and was on the verge of jumping out the window because for the life of me I couldn't figure out why it wasn't working properly. Coding mql can be a littel tricky. The editor has an auto-insert function where it will 'suggest' what you are typing and you simply hit enter to accept the suggestion. Now the error, when coding for the simple moving average the correct function is MODE_SMA. For the smoothed moving average it is MODE_SMMA. I was using the simple moving average and the mql auto-insert was thinking the smoothed moving average. Plot these on your chart, same time period, and you will see they are considerably different. It took me all week to see that extra M in there as the problem. I'm better now but was extremely 'distracted' because of this little *&%$!@* bug....I should be more in touch with things next week...

Pip on!

Look how price turned at the upper TL.

Info

Is anyone looking at the gbpusd. It made a vt on the 4hr with two long tails. The trade looks good but the rr is not. Any thoughts?

Price: 1.9725
TP: 1.9655
Stop: 1.9810
Thanks

We now have eight volunteers to make written copies of mp3's, so we will usually have enough people to cover each day of the week!! However, we will be taking turns according to a master list. Sometimes, a person may not be able to do their copy for a few days, and a later mp3 may get a written copy before the earlier one, but they will all get done!

Thanks to all our copiers!! Here's our list: OldDog, ira, BenStevo, Morelands, Hookem28, Bag Lady, BIL2205, and EricthePip.

Our thanks to Phillip for all of the great information he gives us, truly worth copying! --Tony

Daily wrapup

hello,

if someone can help me, i'm trying to find the 4HR template using phillips strategy..but i can't seem to find them. this thread have changed since last i visit. i want the 4HR template without going tru the zip file. can anyone help me find this particular template ?

thanks in advance..

Well mine compiles both Phillip's systems in one template with other colours.
It has stochastics 5,3,3 in daily besides and extra 5 ema (remove them if you want).
For indicators you can see this post
http://www.forexfactory.com/showpost...postcount=3188
....and my new tool for 5 min intraday (thanks Phillip and Golfer for feedback )
http://www.forexfactory.com/showpost...postcount=3542
I hope it helps.

I am consideriing this trade in USDCHF:
Close below 89Avg with big black candle
MACD turned up to 0 and down again.

Is that "Correct" accord. to this strategy?

Till

Thanks for your teaching, I see what wrong is with me

GBP moved with some very unqiue price action yesterday and today. Basically a smaller trending movement then a resulting corrective movement within a larger 4H corrective price movement. It has moved as I anticipated from yesterday.

I am currently positioned for a risk free breakout to the downside with 25 pips already banked. Considering at time of this post its current daily range is only 60pips with a current average of about 150pips a day there should be some room to go.

Entry Notes:

1. Daily Price Movement is down possible increasing/breakout of price speed to test Jan lows.
2. 4H corrective move showing possible Shoulder Head Shoulder
3. This will be the third bounce from the blue fibs
4. Price bouncing from 38% retrace fib of last minor down swing
5. Possible 4H MACD TC to form
6. Enough reward to edge of triangle to take 50% profit and position for risk free breakout

To me this entry is almost picture perfect. I like trading within consolidation patterns because their movement is fairly simple and provide nice entry points.

I took the E/U TC a couple of hours back but I took it on the retrace back to 5800. TP has now been hit and I closed the rest of the trade as both 4H and 1H have not broken the triangle.

It looks like yesterday had a false breakout of this triangle and then priced moved down to the bottom of it and moved back up and is now running along the top of it. Difficult to see whats gonna happen now.

Just a few notes here:

Some months ago 'saka' PM'd me several times looking for guidance or some further instruction with the method. I told him it's basically all a matter of seeing the flow of the market and letting the signal come to you versus looking for it. For the past several weeks I see saka's trading has improved greatly, nice going. Patience and pays off. I hope your uncle is doing well my friend.

Looking at the EU:

Although the volatility has been stepped up a little in the past few weeks (lots of tails) the 21 seems to be holding lately. Also, I see an ascending triangle forming. This usually means a bullish formation with an eventual breakout to the upside so I'll keep that in mind. Pay no attention to that buy order, that's a 5min entry.

thank you mkain...i appreciate it..

also, has anyone still has the older version of phillip's 4HR chart template that comes with just about 5 MAs ? the one i got from mkain , there are about 8 MAs..

i have been using phillip's 4HR charts for almost all currency pairs, as it helps me to find the right time of entry & exits, also useful for scalping ( use 1min or 5min TF )..i also use FIB to see any retracements/bounce..


many thanks..

I had heard before price wouldn't touch a support or resistant more than 3 times and the 4th time it breaks either way.
This Res is been touched 5 time

So let's see what happens.
Today we have G7 meeting

Mike

May be after watching it we could guess which direction this triangle would break

I have entered gu trade after I missed EU's good BOZ. I made a mistake that I should have set half of my lots 25 pips gain before I went to have a dinner with my friends. When I coming back, I find that this siganl has successed with more than 40 pips gain but I didn't profit, because I set a long TP!

So I closed my postion with 13 pips gain to avoid leave it to weekend

Palmer, thanks for your encourage. I still have a long way to go, and thanks to you and Philip especially Ira's help. I definitely make great progress with this strategy. Becktesting is useful, and hope everyone can do it also!

My uncle is about to do an operator at Beijing Cancer Hospital which is the best one in China. He doesn't have much time to go to America. Thanks for your help and wish him cover soon.
http://www.sinaimg.cn/cj/pc/2008-04-...0411234516.gif

Hi, Saka,

Sorry, a studpid question to ask you: Is that possible to entry one lot and set BE for half at the same time? This is important to me, because I always enter two separate half lot, and set one BE for 25. Thanks

Macalmd