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4 Hour Strategy (MACD)

  • #13,781
  • Apr 18, 2008 5:10am Apr 18, 2008 5:10am
Quoting ira
EUR behaves very strange resently, I feel out of rhythm. It gave a TC on the 15th of April 12:00 (GMT+3) and then fell down like a rock in ten minutes, and today the same story. In both cases SL was too big, so it kept me out.
I think its likely to stay like this while it is continuing to push new highs. We are right on the edge here and uncharted territory is always full of surprises.
  • #13,782
  • Apr 18, 2008 5:14am Apr 18, 2008 5:14am
USDJPY with another TC signal.
It broke the "trendline" form December (btw can you call it a trendline when there are only 2 points?), bounced from 8/21 MAvgs and should explode when 120.90 is passed.
Or it will fool us!!

well, I use the 8 period EMA to trail the stop.

Good luck to you all!!!
  • #13,783
  • Apr 18, 2008 5:25am Apr 18, 2008 5:25am
Quoting brettboz
I think its likely to stay like this while it is continuing to push new highs. We are right on the edge here and uncharted territory is always full of surprises.
I agree. 1.5000 was a tough nut to crack too, no reason to suppose 1.6000 will be any easier.

I feel uneasy about today (even my broker's server was down for over an hour this morning, I took that as another sign!!) so I'm just watching and not playing!
Have a great weekend everyone,

Rebecca,x.
May all your pips grow into great big fruitful trees
  • #13,784
  • Apr 18, 2008 5:34am Apr 18, 2008 5:34am
Ira; I see your 4 hr charts are considerably differant to mine, which has made some trades harder for you. Hence your feeling of being out of synch with the price etc. It is possible to change server times whilst keeping your platform. But you may find trades when others do not..........The question is with differant server times is are some of them actually a disadvantage some peoples ability to trade accurately.

My charts look pretty similar to Phils and my candles change at 7am,11am and 3pm here in the UK which is pretty much spot on for the Europeans opening at 7am and news at 3 etc.

I have noticed throughout the thread people taking trades i would have not, because their sleep times and servers times are differant which makes comparing trades very awkward indeed. We are all essentially trading with what we have got and making the best of it. Unless some servers are giving less trades or considerably more inaccurate etc. If the candles open at the wrong times then trades will be poor leaving people on the sidelines.


I have certainly missed Phils mp3's recently.............
  • #13,785
  • Apr 18, 2008 5:51am Apr 18, 2008 5:51am
I took a virtual trade on Euro, entering at around 1.5863 and closed it +34.

The price stopped near my trendline and a price line i had previously on the chart, so that was a good place to take profit.

Apologies for the poor grammer in my previous post, feeling woollly minded today......
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  • #13,786
  • Apr 18, 2008 6:37am Apr 18, 2008 6:37am
Quoting mike1349
Nice B off 21..........Huge SL
MIKE CAN YOU EXPLAIN THE LETTER ON YOUR MACD.....VT AND OTHERS
I MEANS SELL/BUY PLEASE.........
  • #13,787
  • Apr 18, 2008 6:58am Apr 18, 2008 6:58am
Hope you Yen traders got in on the breakout trade. It broke out of the triangle yesterday, and found support on the upper TL before continuing upward. A perfect setup, according to Phillip's breakout strategy.
Lots of pips everywhere for people following the rules.
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  • #13,788
  • Apr 18, 2008 7:04am Apr 18, 2008 7:04am
Quoting Hookem28
Hope you Yen traders got in on the breakout trade. It broke out of the triangle yesterday, and found support on the upper TL before continuing upward. A perfect setup, according to Phillip's breakout strategy.
Lots of pips everywhere for people following the rules.
exactly!!! Schoolbook Phil's strategy!!
wrote about it yesterday.
Just tell me why I excited so early :-(
  • #13,789
  • Apr 18, 2008 7:10am Apr 18, 2008 7:10am
I think this USDJPY trade is a major example for the fact that the exit is more important than the entry and sometimes more difficult.

Maybe Phillip could talk about his exit startegies again.

Have a nice w-e,
Till
  • #13,790
  • Apr 18, 2008 7:20am Apr 18, 2008 7:20am
Anybody knows what's going on?
I couldn't find any important news today.

Mike
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Failure, is a wonderful teacher!
  • #13,791
  • Apr 18, 2008 7:40am Apr 18, 2008 7:40am
Quoting mike1349
Anybody knows what's going on?
I couldn't find any important news today.

Mike
Hi Mike,

Think its all about the BOE creating a package where banks will be able to exchange morgage-backed loans for Government bonds. This is all to help the interbank lending, & to improve money movement between banks.

I think the FED are also working something to help banks in the US (not sure what exactly).

Things will be very volatile as a lot of speculation going on at the moment!
  • #13,792
  • Apr 18, 2008 7:44am Apr 18, 2008 7:44am
Quoting mike1349
Anybody knows what's going on?
I couldn't find any important news today.

Mike
that's what the pros at SAXO Bank say:

FX Trading Strategy: EURUSD, long. We have been stopped out of the trade at 1.5746 and are actually a bit surprised about the weakness of EUR here...
  • #13,793
  • Apr 18, 2008 7:57am Apr 18, 2008 7:57am
Quoting taboouk
Hi Mike,

Think its all about the BOE creating a package where banks will be able to exchange morgage-backed loans for Government bonds. This is all to help the interbank lending, & to improve money movement between banks.

I think the FED are also working something to help banks in the US (not sure what exactly).

Things will be very volatile as a lot of speculation going on at the moment!

Yes Tabouk,
SOmething is going on.I just saw this:

06:47 04/18 (CEP News) - A faster than expected growth in the UK's money supply and German producer prices, along with worsening retail sales in Japan and smaller-than-expected rebound in consumer confidence highlighted some of the economic events of the overnight. European Central Bankers also continued to express concerns over rising inflation and slowing economic growth.

The UK’s broad measure of money supply, the M4, rose by £13.7 billion in seasonally adjusted terms in March, in line with the average flow for the previous six months, according to preliminary figures published by the Bank of England on Friday.

mike
Failure, is a wonderful teacher!
  • #13,794
  • Apr 18, 2008 8:10am Apr 18, 2008 8:10am
Does anyone know of a reputable broker offering MT4 free demo download and their MT4 is based on EST?

If so, would you please post their name/url?

Thank you.
  • #13,795
  • Apr 18, 2008 8:19am Apr 18, 2008 8:19am
Quoting mike1349
Anybody knows what's going on?
I couldn't find any important news today.

Mike
I don't think theres anything wrong with your trade (Philip can confirm that), I took it early instead of on the retrace and managed to get out quick because I spotted the 1H doji just before the move down. However if I had seen that signal I would have probably gone for the retrace as you did.

I think todays move is down to news events which can and will always throw a spanner in the works of the system.

These are interesting times we are in......yeah right!!
  • #13,796
  • Apr 18, 2008 8:30am Apr 18, 2008 8:30am
I'm currently trading with gmt+2. There was nowhere to enter for the down move to 89. I just downloaded a demo gmt+1 chart to see how the trade would have been in and there it is. BIG move down to 89 (of couse what gmt+2 chart did too) but after a nice tail down signal candle. And on the 16th of April the 4:00 signal candle was smaller with better sl compare to the large candle in gmt+2 chart. I feel very http://www.forexfactory.com/images/icons/icon8.gif n http://www.forexfactory.com/images/icons/icon9.gif because I missed a huge move because different chart! I think I should start to look for a broker with gmt+1 chart. Did any one else had the same problem? I'm http://www.forexfactory.com/images/icons/icon13.gif for this week. Hope next week will be better to makehttp://www.forexfactory.com/images/icons/dollar.gif! For now I'm gonna trade with my regular account, but with always comparing with the gmt+1 demo. Have a nice weekend guys and a happier weekend for those who made pips especially the j/u breakout pips!
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  • #13,797
  • Apr 18, 2008 8:56am Apr 18, 2008 8:56am
It would be nice if we could get a list of brokers/urls with different MT4 server times, and maybe highlighted at to which one(s) work best with this method.

Thanks.
  • #13,798
  • Apr 18, 2008 9:16am Apr 18, 2008 9:16am
I seldom watch this pairs. But it has formed a BOZ, which I like very much for its long tails upward. I enter with 2lots, set different sl to ruduce the loss. Mainly target is daily S1
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Plan your trades and trade your plans
  • #13,799
  • Apr 18, 2008 9:21am Apr 18, 2008 9:21am
Quoting mike1349
Anybody knows what's going on?
I couldn't find any important news today.

Mike
i did same trade and lost -30 pips,then i reversed and earned just +12
now im in usdcad ,the below chart
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  • #13,800
  • Apr 18, 2008 9:37am Apr 18, 2008 9:37am
Quoting mike1349
Hi Phillip,
I was listening to your April Trades.First thank you so much and then I was wondering why didn't you take those 2 trades (TC's) which I marked with question mark?
The only reason I could've thought was Bounce off 8 but your first trade was bounce off 8 too.

I appericiate that if you clear it for me.

Regards
Mike
Both your ? is no TC. The MACD does not show TC
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