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4 Hour Strategy (MACD)

  • #15,081
  • May 25, 2008 1:42pm May 25, 2008 1:42pm
Quoting fena74
I ask when I see some couple how to understand what is the main trend for this couple.If I choose longer period sometimes the main trend looks uptrend and if i choose just 10-12 candles I see downtrend.So I have difficulties in knowing if the main trend at the moment is up or downtrend.I know that the system use 4hour but for determing main trend i use dayly graf.Thank you.
If i understand you correctly, you are saying that the 4hr trendlines can sometimes not be in the same direction as the daily ones, and therefore are the TC signals from it still valid........yes. The 4hr trendlines and TC signals do not have to be in agreement necessarily with the daily weekly or monthly trendlines. You do not need to be confused by longer time frame trendlines, still follow the 4hr signals.There are trends within trends.
  • #15,082
  • May 25, 2008 1:42pm May 25, 2008 1:42pm
Quoting ira
I'm not sure if I understood you, but if we are above 89 and price retraces to the 21 and moved up, we are in an up trend and we are looking for TC's up and vice versa for down.
I think what fena74 is asking has to do with time frame. This strategy is base on 4HR so fena74 has to be in 4HR time frame OK. Though, the strategy work also in other time frame but you will see different trend at different time frame. So if we are above 89 in 4HR, we are in uptrend and below 89 we are in downtrend.

I hope this help fena74.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #15,083
  • May 25, 2008 1:51pm May 25, 2008 1:51pm
Quoting ejiexe
I think what fena74 is asking has to do with time frame. This strategy is base on 4HR so fena74 has to be in 4HR time frame OK. Though, the strategy work also in other time frame but you will see different trend at different time frame. So if we are above 89 in 4HR, we are in uptrend and below 89 we are in downtrend.

I hope this help fena74.
Thank you all of you here.I know the answer now-I understood that when the price is above 89 i am in uptrend on 4hours grafic and viceversa.That helps me a lot and all of your answers helps me a lot.Thank you again.I wish you many many pips in your success.I see that i could find the answer of every question here connected with the thread.Let's see what will we have for the Monday when we know that us and USA banks are off.happy trading.
  • #15,084
  • May 25, 2008 2:07pm May 25, 2008 2:07pm
Another question,may be stupid question but i read this tread from the beginning and now i am till 121 page.So I have a clear question-what is exactly BE? I know it is may be not for this tread but i only read this tread these days so I have difficulties to find the answer.Just few lines and and will understand,please let me know what exactly is BE and how can I use it?TRhank you for all the time you give for my answers.
  • #15,085
  • May 25, 2008 2:21pm May 25, 2008 2:21pm
Hi,
Here is the updated version of the Sitter.
Fixes a bug with the Virtual / Actual.SL plus a couple of other minor bugs as well as on screen display info.
I wish you all an excellent upcoming trading week.

Yannis
Attached File(s)
File Type: zip Artemis Sitter.zip   467 KB | 1,261 downloads
  • #15,086
  • May 25, 2008 10:32pm May 25, 2008 10:32pm
Quoting fena74
Another question,may be stupid question but i read this tread from the beginning and now i am till 121 page.So I have a clear question-what is exactly BE? I know it is may be not for this tread but i only read this tread these days so I have difficulties to find the answer.Just few lines and and will understand,please let me know what exactly is BE and how can I use it?TRhank you for all the time you give for my answers.

BE = break even. setting your stop loss to your entry price. very usefull, you'll see a lot in this thread the importance of BE
  • #15,087
  • May 26, 2008 12:17am May 26, 2008 12:17am
I read somewhere that if price (e.g. EUR/USD) are making new high/low when the European/US markets are closed, it tends to go back to its previous range. So, let say we get a signal during Asian Session, do we take it? Does this system's rules say something about trading time? I think I read that Phillip prefers signals at certain times.
  • #15,088
  • May 26, 2008 12:27am May 26, 2008 12:27am
Quoting fxinvesta
I read somewhere that if price (e.g. EUR/USD) are making new high/low when the European/US markets are closed, it tends to go back to its previous range. So, let say we get a signal during Asian Session, do we take it? Does this system's rules say something about trading time? I think I read that Phillip prefers signals at certain times.
If the market gives you signals - gives opportunity! Why not? Take the money and be out of the market!Sometimes when ASIA selling the USD very hard, the picture repeating on EUROPEAN and US markets, but sometimes! I know one thing! Nobodys knows ANYTHING - this is FOREX!
THINK LIKE A FUNDAMENTALIST; TRADE LIKE A TECHNICIAN
  • #15,089
  • May 26, 2008 3:03am May 26, 2008 3:03am
Quoting napeharm
During the 4hrs of a candle the signal can change considerably. Therefore the signal is only what it is, ie; a TC, when the candle is closed. Anything else is simply guessing. The trade is taken at the close of the signal candle.
Thanks.
  • #15,090
  • May 26, 2008 6:54am May 26, 2008 6:54am
Hi Phillip

Thanks for all your work on this thread - Just wondering if you have heard of Trading rooms? www.tradingrooms.com Its basically a chat room where you can share charts in real time and post chart pics as well as being able to talk on the mic at the same time. It's really good - and free.

Do you already have a room ? If not it would be a good addition to this thread IMO.

Cheers
Time hides Nothing
  • #15,091
  • May 26, 2008 8:00am May 26, 2008 8:00am
Euro maybe establishing some middle line in the upward channel.
Attached Image (click to enlarge)
Click to Enlarge Name: may.26.euro.gif Size: 25 KB
  • #15,092
  • Edited May 27, 2008 4:55am May 26, 2008 9:07am | Edited May 27, 2008 4:55am
TC on MACD with bullish candle

Lower high only concern.
Will take some profit after 20pips

Edit
Just come home from work(did the deal at work) and open my home MT4 and there it is. HOLIDAY. I totally forgot about it.
Well I am in the deal and all my backtesting was done not even knowing when is it holiday and not so I will stay and trust the system.

Edit
Took full profit at 1.5796 after some retracement from ±1.5718 high(reason was previouse closeby high). Did not take 50% profit after 20pip gain as the movement was slow due to holiday. I have set at 20 trailing stop and was closed out at 1.5798 by trailing stop.

Total gain +25pips




EurUsd 16:00 Candle 26th May 2008



I entered this trade at work totally forgot that it is holiday in UK and USD. Only on arrival at home I realized that. So what now. The position is open and what is the plan of action. I had to decide on a plan to approach this situation.
1. Where is the closest support and resistance.
· 1.5800 Above entry level.
· 22/05/2008 08:00 candle high of 1.5813.
· Support trendline at 1.5740. Resistance trendline far away.
2. How strong is the signal candle
· Engulfing candle off the 21ema indicating bullish strong.
3. Plan of action
· Signal is strong enough to keep position open but with a NO LOSS strategy put in place if possible.
· Nearby high of 1.5813 as resistance. That gives +40 pips above entry level.
· The holiday will have lack of volume so volatility is a possibility.
· When bedtime arrived there was still no real positive movement so I decided to put all at a 20 trailing stop. There was obvious no driving force at all therefore the prevailing up move is still in play therefore the decision to set trailing stop of 20 so that if 1.5800 is hit I will still be closed out without a loss.
· This morning saw the position going above 1.5800 and decision was made to stay in with 20 trailing stop
4. Position was closed at 1.5796 with a +25pips gain.
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd.GIF Size: 34 KB
  • #15,093
  • May 26, 2008 9:28am May 26, 2008 9:28am
Quoting Phillip Nel
TC on MACD with bullish candle

Lower high only concern.
Will take some profit after 20pips
hi, Phillip. It is American holiday today. You still enter a trade. Do you still have confidence to use this method at this case?
Plan your trades and trade your plans
  • #15,094
  • May 26, 2008 9:30am May 26, 2008 9:30am
Quoting Phillip Nel
TC on MACD with bullish candle

Lower high only concern.
Will take some profit after 20pips
Hi Philip,

I saw this too and decided against taking it because there is a very short term hourly trend line which sits between my projected target and price. Also I am a big dubious taking trades on a day which is holiday in UK and US.
  • #15,095
  • May 26, 2008 9:59am May 26, 2008 9:59am
Quoting saka
hi, Phillip. It is American holiday today. You still enter a trade. Do you still have confidence to use this method at this case?
its my question also,and..
tails?hate?love?direction?
  • #15,096
  • May 26, 2008 10:27am May 26, 2008 10:27am
Quoting saka
hi, Phillip. It is American holiday today. You still enter a trade. Do you still have confidence to use this method at this case?
Just come home from work(did the deal at work) and open my home MT4 and there it is. HOLIDAY. I totally forgot about it.
Well I am in the deal and all my backtesting was done not even knowing when is it holiday and not so I will stay and trust the system.
  • #15,097
  • May 26, 2008 10:35am May 26, 2008 10:35am
Quoting Phillip Nel
TC on MACD with bullish candle

Lower high only concern.
Will take some profit after 20pips
Hi can anybody tell me what is exactly formed when we have lower high on the price as in that case with EUR/USD at the moment?Thank you
  • #15,098
  • May 26, 2008 10:47am May 26, 2008 10:47am
Quoting ira
Good trade and welcome all the newcomers!
Thanks! IŽll try to post whenever I can
  • #15,099
  • May 26, 2008 11:03am May 26, 2008 11:03am
Quoting fena74
Hi can anybody tell me what is exactly formed when we have lower high on the price as in that case with EUR/USD at the moment?Thank you
It could mean that the current directional move is running out of steam and or is taking a breather.
Attached Image
  • #15,100
  • May 26, 2008 11:08am May 26, 2008 11:08am
Thank you Philip.It is pretty clear as I see now.Thank you
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