4 Hour Strategy (MACD)

Because of the large candle on my platform GMT -5, I waited for a small pullback that didnt come until later. Also, the TC occured 4am, sleep time for me...

Though the candle was large(open:1.5651, High:1.5659, Low:1.5558, Close:1.5578) It still would have netted pips (37 pips) for profit before any retrace.

Lots of talk about the EUR TC today below is how I traded.

Don't kow if many notice it but the TC was a smaller degree swing TC. It is a trending move within a larger correction.

I only got 25 pips from it because price did not give a pullback bounce test after momentum shifted back to the downside so I waited for the previous trend swing low break before entry. I took quick 100% profit at 1.382 of previous trend move because price is moving in a smaller degree swing.

Don't have much time to post anymore due to new baby!!

quick question. Are we expecting a lot of movement tomorrow due to the reports comming out on the USD? Just wondering what everyone is predicting

your pictures are great always!

Dear Phillip,
As you see in my platform I got a big candel for TC like Nadia.I couldn't enter in retracement due to work situation.

Thanks
Mike

hi guys!

I entered long usd/jpy earlier when i saw a round bottom forming on the 4hourly chart and I got 20 pips. Had to close the trade for it's around 2am here already. Now this morning the trend is still up with a resistance at 104.13 and the 1H macd formed a round top. My question is will the price follow the hourly macd or continue the upward move? I saw the price dipped from 104.15 and went already to 104.04.

If you cut your trade short can u still find a good entry?
Hope you can enlightned a newbie here. I am from the Manila, Philippines by the way +8 GMT.

Thanks,
Ron

hi guys!

Good day!

I saw round bottom gbp/usd on the 4hourly chart so i am now long at 1.9684
I opened my trade as soon as the candle closes at 12:00 +8GMT.
Please advice.

Thank you very much,
Ron

Hi guys!

gbp/usd long i see the 8ema at 1.9730 so is that first target? I have only one trade so I may get out there Pivot is 1.9751 I see resistance at 1.9794 but the 21 ema is around 1.9790

R1 9838
then i see another resistance at 1.9918
R2 1.9988 and then 2.0042

Hope to hear your thoughts on this trade guys.

Thanks again,
Ron

i failed to see that there is an important news in about an hour is hope i can still manage to get out!

Quick short on this pairing. Entry at; 2.0356, exit 2.0338.No real targets in sight so i exited when it slowed around the previous days low for +18.

I am sorry this is not really 4hr method but the power of trendlines and price movement that can become part of someone over period of time if stick to one or two pairs.

I redraw my bottom trendline and this is what I see. Look also at the four cycles on the chart. I buy dip and stop loss is 1.9590. I will watch closely and see to move to BE as soon as possible.

Are we going back to the top of the channel or 21EMA ????? Time will tell.

My entry price and SL is on the chart.

THIS IS NOT 4HR JUST POINTING OUT THE POWER OF TRENDLINE.

hi guys

I managed to get out before the news hit and long cable from 1.9628

hope to be more careful next time

Hi Philip,

I took the TC trade but didn't have a chance to post about it yesterday. It was in fact almost identical to the trade I had made on Monday which had resulted in BE but this time around I took 35 pips.

I got in early on the 1H once price broke the trend line and the 4H TC was pretty much a 95% certain.

Im now waiting to see if we can get another TC off the 8 on EU, as price has now pulled back to it.

This thread is incredibly useful, although I didn't take the EU I took the GU at 4.00 hours an gained 100 pips. I have been on a training course at work and haven't had much time at the charts this week.I have not been posting due to lack of confidence I am still learning big time. Your work is fantasttic and may I thank you for all the time and effort you put in here.

Fraser

Phillip, I thought the following info might be interesting for you.

In russian internet there are not so many so to say famous traders - I mean people broadly known over most popular russian forex-forums. So one of them once in 2002 started a mailing. During several years (maybe up to 2004 or 2005 - not sure to the end) this mailing was regular and active and now it has more than 10K subscibers. The slogan of this mailing was "Wathc, learn, earn!" In his issues he, particularly, described his trading system. He showed results of live trading on several real accounts, tought people, once even a so to say "collective" testing was organized where about 20 volunteers (and me) tested the system to check if it was robust (and endeed it proved to be). His system differs from yours - it's almost mechanical (but won't talk more about these details for want to say smth different).

So, everybody was very enthusiastic, and someone even asked WHY did he teach this system as if many people become successful in it then market may "react" (when everybody knows the system it stops being good). For example, brokers (small ones, "kitchens") may start to play against traders if they notice them using this system and know that it's successfull.

So the answer of that trader (the author) was that such situation is unlikely to happen - there were 5000 subscribers (at that moment), it's likely that only maybe 1/10 of them were reading it (500 people). From those 500 maybe about 1/10 were not passively reading but trying at least on demo, studing hard, learning, asking questions ect. So about 50 are left. Nobody knows how many from those are successful (maybe again 1/10?) but in the end we may have only about 1% (50 from 5000) using the system - so unlikely that it'll move the market

I don't know if that's a common case or a particular one. But even if really only 1% succed in your system, on this forum 1% must be much more in absolute value. And, surely, it's a different case cos this system is more than just a number of rules when to buy/sell, it's closer to a kind of philosophy, a view/understanding of the market, so it's really different.

Phillip, I'm really amaized by the gift you are giving to us. Hope that some time I grow to your level and can do the same. I hope that the info above doesn't dissapoint you in any way.

i can see a triangle in eu ,this kind of triangles usually ends with a down break but i think it can goes either way because of the divergence in macd and price now near the edge of triangle ,wait and see

Hi,

where can i get Phils original MACD ("MACD H4-300")
i have the "MACD_Colored_v105" it looks a little bit different...

thanks

thomas

Phillip's MACD is v 102
Here you can find it
http://www.fxtradeblog.com/tools.html#indicators

Picked off another +11 on the Euro on my 5 ins charts. This 4hr bar is going to be a huge one to trade from if it closes anything like this.

EURUSD 4h: We may see a Bearisch Engulfing Candle (kind of) at 12CET.
I think that Pattern has some value although we're not in an uptrend.
MACD: TC Short with lower High in negative territory.

Till