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4 Hour Strategy (MACD)

  • #13,601
  • Apr 11, 2008 11:35am Apr 11, 2008 11:35am
Quoting macalmd
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
Hi. Set the one lot at 20pips take profit and the second on a 20 trailing stop. When the first one is triggered with a 20 profit the second goes to BE and trail by 20pips
  • #13,602
  • Apr 11, 2008 1:55pm Apr 11, 2008 1:55pm
I see that my mass PM to those making copies didn't get through the other day, and we ended up getting out of turn, already! But that's okay. Hopefully, all eight of us didn't do the same copy (I know I didn't!). Wouldn't that be something? We could post them all and let everyone vote on whose copy was the best. There might be prizes! I sent everyone a PM individually, this time, and gave the new order of copying, but, just in case, I'll put the order here on the thread, too.

Here's the modified order after we got out of turn:
OldDog, ira, Hookem28, BenStevo, Morelands, Bag Lady, BIl2205 and EricthePip. I'll be notifying you by PM, when it's your turn, but just to be sure for now, BenStevo is next on the list. Be sure to PM me if you have any questions about the order or if you need to take time off from copying for a length of time. --Tony
  • #13,603
  • Apr 11, 2008 5:12pm Apr 11, 2008 5:12pm
I want to share my view of the price action/movement of cable the last few days as it is very unique that one can see the swings all within the 1H and lower timeframe - the swings are simply beautiful. Also if you understand this you will know exactly why Phillip's 4H works so well.

Look at the impulse or significant down swings 1,2 and 3. Look at the corrective pullback - red circles related to down swing #1 bounce points , purple circles to swing #2 and orange to #3.

Now think in terms of how each swing relates to the larger one - notice how the 62% fib is respected during the movement. Notice how price in swing #3 is going toward the extreme range of the corrective #1 swing - a smaller trending move within a correction #1 - this trending move within a correction is what you will usually see using the daily to the 4H/1H. You should also zoom into the 15MIN to get a better look of the swings.

Again this chart is very unique because usually you see this multi swing action only using daily, 4H & 1H so price movement appears very confusion. But this chart is simply a work of art - I am going to frame it & hang it in my office!

If you study the chart you will see that all 4H TC signals that appear near corrective swing #2 will be profitable. Although you could use price movement/action as a filter to the 4H MACD I now only enter using price movement only. Ignore the gaps in swing #3 there were server data issues with MIG.

Enjoy the chart as it contains all the secrets - to dare I say it - near 100% no loss trading!
Attached Image (click to enlarge)
Click to Enlarge Name: 1h.gif Size: 32 KB
  • #13,604
  • Apr 12, 2008 12:59pm Apr 12, 2008 12:59pm
saka:
hi
wahts that moving average on your macd?
  • #13,605
  • Apr 12, 2008 10:33pm Apr 12, 2008 10:33pm
Quoting mike1349
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

Hey Mike,
The daily chart is showing another triple top resistance. Interesting, last time it found resistance at 1.49. It broke out 1000 pips and now resistance is at 1.59. The 1.64 level looks like a possible target if it breaks out to the top.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_triple_top.GIF Size: 17 KB
  • #13,606
  • Apr 12, 2008 11:31pm Apr 12, 2008 11:31pm
Phillips and all,

Is this how you would draw the trend lines for GBPUSD on weekly, daily and 4h graphs?


Please Advise.




NT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd tl weekly.gif Size: 40 KB
Click to Enlarge Name: gbpusd tl daily.gif Size: 43 KB
Click to Enlarge Name: gbpusd tl 4h.gif Size: 45 KB
  • #13,607
  • Apr 13, 2008 6:25am Apr 13, 2008 6:25am
This article was written for stocks but is is also true for Forex and any trading. Making your decision while the market is closed as with stocks it simply means not to be distracted by the motion of the market. MT4 allows you to open a chart offline and works on it and draw TL's, indicators etc. without being distracted by the movement. Sometimes it looks like the market wants to run and then one enters on that motion and not with a solid predetermined plan.
In MT4 go to File and Open Offline. Then choose your chart, then use your template and indicators etc to set up your graph and then make your decision without movement distraction. This is one Method.
You can also disconnect and then study it as well. One need to do your analyses away from the market being in motion.

This is for longer timeframe decision as 5min charts needs swift action at times. The 4H gives you plenty chance to see it develops and makes your planning much easier.

I AM GOING ON LEAVE AS FROM 1st MAY2008 UNTIL 23rd MAY2008. THEN I WILL EVALUATE AND POST RECOMMENDATIONS 10MIN BEFORE THE CLOSE OF THE 8:00, 12:00 AND 16:00 CANDLES(GMT+1 TIME) AS I AM GOING TO DO SOME TRADING AS WELL. THE CURRENT TIME WHEN POSTING THIS IS 13:25 ON MY CLOCK. THIS WILL HELP YOU TO DETERMINE THE TIMES I WILL BE POSTING
Attached File(s)
File Type: pdf Emotions.pdf   82 KB | 1,591 downloads
  • #13,608
  • Apr 13, 2008 6:33am Apr 13, 2008 6:33am
Quoting Nigel
Phillips and all,

Is this how you would draw the trend lines for GBPUSD on weekly, daily and 4h graphs?


Please Advise.




NT
Nothing wrong with it. I like those intermediate lines of support and resistance.
  • #13,609
  • Apr 13, 2008 7:28am Apr 13, 2008 7:28am
Quoting Phillip Nel

I AM GOING ON LEAVE AS FROM 1st MAY2008 UNTIL 23rd MAY2008. THEN I WILL EVALUATE AND POST RECOMMENDATIONS 10MIN BEFORE THE CLOSE OF THE 8:00, 12:00 AND 16:00 CANDLES(GMT+1 TIME) AS I AM GOING TO DO SOME TRADING AS WELL. THE CURRENT TIME WHEN POSTING THIS IS 13:25 ON MY CLOCK. THIS WILL HELP YOU TO DETERMINE THE TIMES I WILL BE POSTING
That is great!
Success is the small sum of efforts, repeated day in and day out.
  • #13,610
  • Apr 13, 2008 8:30am Apr 13, 2008 8:30am
I AM GOING ON LEAVE AS FROM 1st MAY2008 UNTIL 23rd MAY2008. THEN I WILL EVALUATE AND POST RECOMMENDATIONS 10MIN BEFORE THE CLOSE OF THE 8:00, 12:00 AND 16:00 CANDLES(GMT+1 TIME) AS I AM GOING TO DO SOME TRADING AS WELL. THE CURRENT TIME WHEN POSTING THIS IS 13:25 ON MY CLOCK. THIS WILL HELP YOU TO DETERMINE THE TIMES I WILL BE POSTING[/quote]

thats more than great
  • #13,611
  • Apr 13, 2008 8:37am Apr 13, 2008 8:37am
Quoting Phillip Nel
Nothing wrong with it. I like those intermediate lines of support and resistance.

Thank You, Sir.



NT
  • #13,612
  • Apr 13, 2008 3:00pm Apr 13, 2008 3:00pm
Hi,
I get this error message when I am trying to open Phillip PDF.Anybody has an idea,why?

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: Gj.jpg Size: 52 KB
Failure, is a wonderful teacher!
  • #13,613
  • Apr 13, 2008 3:21pm Apr 13, 2008 3:21pm
Quoting mike1349
Hi,
I get this error message when I am trying to open Phillip PDF.Anybody has an idea,why?

Mike
Hi
Just opened it on my side. Looks fine. Hope you get the problem.
  • #13,614
  • Apr 13, 2008 4:00pm Apr 13, 2008 4:00pm
I encounter the same problem as mike,when i try to open it
  • #13,615
  • Apr 13, 2008 5:20pm Apr 13, 2008 5:20pm
Quoting Phillip Nel
This article was written for stocks but is is also true for Forex and any trading. Making your decision while the market is closed as with stocks it simply means not to be distracted by the motion of the market. MT4 allows you to open a chart offline and works on it and draw TL's, indicators etc. without being distracted by the movement. Sometimes it looks like the market wants to run and then one enters on that motion and not with a solid predetermined plan.
In MT4 go to File and Open Offline. Then choose your chart, then use your template and indicators etc to set up your graph and then make your decision without movement distraction. This is one Method.
You can also disconnect and then study it as well. One need to do your analyses away from the market being in motion.

This is for longer timeframe decision as 5min charts needs swift action at times. The 4H gives you plenty chance to see it develops and makes your planning much easier.

I AM GOING ON LEAVE AS FROM 1st MAY2008 UNTIL 23rd MAY2008. THEN I WILL EVALUATE AND POST RECOMMENDATIONS 10MIN BEFORE THE CLOSE OF THE 8:00, 12:00 AND 16:00 CANDLES(GMT+1 TIME) AS I AM GOING TO DO SOME TRADING AS WELL. THE CURRENT TIME WHEN POSTING THIS IS 13:25 ON MY CLOCK. THIS WILL HELP YOU TO DETERMINE THE TIMES I WILL BE POSTING
Thank you Phillip for posting us such a great post.
I will copy it and hang it on the wall!http://www.forexfactory.com/images/icons/icon14.gif
  • #13,616
  • Apr 13, 2008 9:26pm Apr 13, 2008 9:26pm
Quoting bshadroo
saka:
hi
wahts that moving average on your macd?
hi, that's v105, I still don't know how to use the ma in MACD. Maybe it is used as a lagging singal.
Attached File(s)
File Type: mq4 MACD_Colored_v105.mq4   20 KB | 772 downloads
Plan your trades and trade your plans
  • #13,617
  • Apr 14, 2008 12:06am Apr 14, 2008 12:06am
Quoting mike1349
Hi,
I get this error message when I am trying to open Phillip PDF.Anybody has an idea,why?

Mike
i have same error
  • #13,618
  • Apr 14, 2008 12:58am Apr 14, 2008 12:58am
Quoting mike1349
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

The reason you see that resistance touched 5 times is because actually the resistance was broken, newer highs were posted so your old highs have less technical significance. When TA analysts say that price usually doesnt touch resistance 4th time is because price often breaks the older highs or lows, even if its by a few pips, a break of resistance doesn't necessarily mean breakout, it just means a break of that pricepoint, but repeatedly if it keeps breaking and forming newer price points and head fakes, it gives it increasing likelihood of a breakout of that resistance.
  • #13,619
  • Apr 14, 2008 4:17am Apr 14, 2008 4:17am
I am struggling a bit with the set up. I am wondering if any has a "template" of this sytem?
  • #13,620
  • Edited 4:37am Apr 14, 2008 4:24am | Edited 4:37am
Quoting oculaw1957
I am struggling a bit with the set up. I am wondering if any has a "template" of this sytem?
here is the template I use for now with EMAs 8, 21, 365, SMAs 89, 200 and the MACD_H4_300_v100 (5,13,1)
Not sure if this is the most up to date MACD indicator used in the thread though... but I prefer it to the MACD_Colored_v105
Kind regards

Program files --> MT4 folder --> templates: you copy the .tpl file into this folder.
Program files --> MT4 folder --> experts --> indicators: you copy the MACD indicator (.mq4) into this folder.
Attached File(s)
File Type: tpl 4hmacd.tpl   2 KB | 1,128 downloads
File Type: mq4 MACD_H4_300_v100.mq4   3 KB | 1,044 downloads
File Type: mq4 MACD_Colored_v105.mq4   20 KB | 1,164 downloads
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