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4 Hour Strategy (MACD)

  • #14,821
  • May 15, 2008 1:06am May 15, 2008 1:06am
Quoting ira
EUR is between MA's, price makes HH and HL, candles are sitting on the support. I'm waiting for close above 89, pullback and TC.
Agree, HSTC will release its profit today I remmember. Maybe big lose from subprime

PS: the report from earthquake
http://edition.cnn.com/2008/WORLD/as...ef=mpstoryview
Plan your trades and trade your plans
  • #14,822
  • May 15, 2008 1:23am May 15, 2008 1:23am
Quoting killer_pips8
Please excuse for my question but how are you looking for a TC formation ?

Is it when price make HL and HH according with HL to macd only ? or are you looking that with the 89 SMA ?
Sorry for misleading you, I must be more cautious in my posts, as there are many people who are just learning. My anticipation at present is on the chart. That's an ideal scenario of course. I usually write down for myself possible scenarioes and then wait for MACD and price conformation.
Attached Image
  • #14,823
  • May 15, 2008 1:31am May 15, 2008 1:31am
Phillip has mentioned one more possible scenario: 89 and TL may become resistance and price may turn there. Then there may be a ZB signal. Personally I'm for up move, sorry Phillip , but we must be ready on both sides, let the market show us.
  • #14,824
  • May 15, 2008 2:04am May 15, 2008 2:04am
Quoting ira
Phillip has mentioned one more possible scenario: 89 and TL may become resistance and price may turn there. Then there may be a ZB signal. Personally I'm for up move, sorry Phillip , but we must be ready on both sides, let the market show us.
yes. ZB looks like it is out. The current 4H candle starts to get huge.
There was some heavy up and down movements of a couple of pips at the TL indication some orders being filled. Lets wait for the market to show what it wants to do. With that huge candle busy forming it seems to be bullish.
  • #14,825
  • Edited 2:26am May 15, 2008 2:08am | Edited 2:26am
My anticipation.

Edit
Mt feeling is that a retest of the 89sma might be on before the price will breakout if it is going to breakout. The MACD might not give a signal when it bounce off the 89sma if it does. I will watch the 1Hour when price pulls back to 4H 89sma and will look for a positive bullish candle to close above top TL for an entry.
This is a bit advanced and we must be allways aware of that top TL.

Edit
I will be out till 12:00 more or less. Hope it works out for you people and you make some pips
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  • #14,826
  • May 15, 2008 3:06am May 15, 2008 3:06am
Sorry to disturb again,

But can i have a direct link where i can learn more abot TC, ZB and other formation ??

Thanks . . .
Simple Things are the best
  • #14,827
  • May 15, 2008 3:13am May 15, 2008 3:13am
Quoting killer_pips8
Sorry to disturb again,

But can i have a direct link where i can learn more abot TC, ZB and other formation ??

Thanks . . .

Links to all the info for the system are on the first page of the thread, pdf's and mp3's. I dont know if there is one there specifically for those patterns, but all of that is covered. To learn about these patterns download everything and read everything. I found listening to the daily mp3's very useful for examples of those patterns and following on your own chart at the same time to follow closely what is going on. That way you get used to the patterns and where they occur.
  • #14,828
  • May 15, 2008 3:26am May 15, 2008 3:26am
Quoting killer_pips8
Sorry to disturb again,

But can i have a direct link where i can learn more abot TC, ZB and other formation ??

Thanks . . .
http://www.forexfactory.com/showpost...56&postcount=1
Failure, is a wonderful teacher!
  • #14,829
  • May 15, 2008 4:08am May 15, 2008 4:08am
Thx,

I prefer download pdf, i have a bad english so i can not listen the mp3 files.

Thx to you
Simple Things are the best
  • #14,830
  • May 15, 2008 5:01am May 15, 2008 5:01am
@napeharm

where can i get the daily mp3-Report?

Thanks
Thomas
  • #14,831
  • Edited 1:05pm May 15, 2008 5:01am | Edited 1:05pm
Candle closed with long tail. Difficult to set a stoploss as the candle does not hav a body. I will not risk very much so I will enter with stoploss set to 30 with half a lot only and add the other half later if a chance is given on MACD signal.

Edit
Will add other 50% after 25pips gain on first 50% and set both to BE

Another way is to enter on a 38% retracement with 50% and the other 50% when price goes 10+ pips below the previouse candle

Remember, this is taking the odds on purely on that tail.

Take profit at this stage around bottom TL 1.5430

Edit
It is pulling back towards the 89sma. Lets see if the 89sma is going to be resistance or not. My stoploss is at 1.5517.

Edit
Stoploss taken out. Will wait to see if it goes below the low of previouse bar and will enter with other 50% if so.

Edit
Re-enter with remaining 50% at 1.5486 and set stoploss to 1.5519(Not 30 but 33. I made a mistake to set stoploss at 30 on the first entry. One of my rules I violated never to set stoploss at equals of 5). Set to trailing stop of 25.

Edit
+20 pips reached. Set to BE and 25trailing stop.

Edit
BE taken out on 2nd 50%. Average loss (-30 and 0)/2= -15pips

Way to much up and down movement going on.

Afterthoughts
As you can see I entered only half a position in the beginning allready showing uncertainty. The candle did not have a body therefore as I said it was difficult to set a stoploss. Therefore my decision to enter half and if it retrace and take my stop out I can enter again when it goes down honouring the tail. It is only my way to manage a position when uncertain.

Late edit
The first interpretation of that tail was correct. The correct entry place should have been on a retrace to the 89sma with a stoploss of at least 35pips. Easy to say afterwards but it is how we learn.
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  • #14,832
  • May 15, 2008 5:52am May 15, 2008 5:52am
Quoting FX-man
@napeharm

where can i get the daily mp3-Report?

Thanks
Thomas

Look at the top of this thread where the page numbers are and click the paper clip symbol to the right of the page numbers. This will bring up a list of everything posted on the thread. Click 'hide attached images' to narrow the search. Scroll down the page to find the 'Daily Wrap up' zips and pdf's if you have difficulty listening to spoken English.
  • #14,833
  • May 15, 2008 6:08am May 15, 2008 6:08am
thanks nepharm,
the last on that i found is from 10. April.

is it not daily a new mp3-document?

Thanks
Thomas
  • #14,834
  • May 15, 2008 6:09am May 15, 2008 6:09am
Quoting FX-man
thanks nepharm,
the last on that i found is from 10. April.

is it not daily a new mp3-document?

Thanks
Thomas
No.Phil will only make an mp3 from time to time, not everyday.
  • #14,835
  • May 15, 2008 6:42am May 15, 2008 6:42am
I got B off 21 TC in G/U with a huge SL so forget it but U/Chf looks fine.B off 21 and TL.

Mike
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Failure, is a wonderful teacher!
  • #14,836
  • May 15, 2008 6:46am May 15, 2008 6:46am
Quoting mike1349
I got B off 21 TC in G/U with a huge SL so forget it but U/Chf looks fine.B off 21 and TL.

Mike
I took the TC early on the 1H once the support trend line was broken. At this stage the 4H looked very certain to close with the TC so I took it.

Price has already hit my target and rest has moved to BE.
  • #14,837
  • May 15, 2008 6:47am May 15, 2008 6:47am
Quoting Yorik
Sorry, I didn't mention that - in the above calculations SL was always moved to BE at the 1st TP level (independent of that was some part of the position closed there or not). So in V.3 among 9 positions price reached TP2 in 4 cases, in all 9 SL was moved to BE and was activated there in 5 cases in which profit was TP1<profit<TP2.

About not changing SL to BE but working only with SL and TP. Such a step, as I understand it, may help to preserve positions from a too early closing before possible big movement. In our case we have about 40% probability to get 63 pips (TP2) and 90% of getting about 23%. That means that in those 4 trades of 9 price didn't touch BE after +23 and reached +63. There really might be some trades when price reached +23, then touched BE and again moved to profit, but I need to chech that on specific trades. Thanks for the question.
Thank you! I am really looking forward for your results. I was always a friend of fire & forget but haven't tested it precisley yet.
  • #14,838
  • May 15, 2008 7:18am May 15, 2008 7:18am
Hi, Kaka, here is the template I am use, hope it helps.
Attached File(s)
File Type: tpl macd.tpl   307 KB | 1,030 downloads
  • #14,839
  • May 15, 2008 7:19am May 15, 2008 7:19am
Quoting Phillip Nel
Candle closed with long tail. Difficult to set a stoploss as the candle does not hav a body. I will not risk very much so I will enter with stoploss set to 30 with half a lot only and add the other half later if a chance is given on MACD signal.

Edit
Will add other 50% after 25pips gain on first 50% and set both to BE

Another way is to enter on a 38% retracement with 50% and the other 50% when price goes 10+ pips below the previouse candle

Remember, this is taking the odds on purely on that tail.

Take profit at this stage around bottom TL 1.5430

Edit
It is pulling back towards the 89sma. Lets see if the 89sma is going to be resistance or not. My stoploss is at 1.5507.

Edit
Stoploss taken out. Will wait to see if it goes below the low of previouse bar and will enter with other 50% if so.

Edit
Re-enter with remaining 50% at 1.5486 and set stoploss to 1.5519(Not 30 but 33. I made a mistake to set stoploss at 30 on the first entry. One of my rules I violated never to set stoploss at equals of 5). Set to trailing stop of 25.

Edit
+20 pips reached. Set to BE and 25trailing stop.
Philip, could u post ur chart?
  • #14,840
  • May 15, 2008 7:29am May 15, 2008 7:29am
Quoting 4newbie
Philip, could u post ur chart?
Look like it will take out 2nd 50% at BE.
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