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4 Hour Strategy (MACD)

  • #15,261
  • Jun 2, 2008 9:22am Jun 2, 2008 9:22am
I took a long on the EU this morning for the following reasons:

The 4hr was at the uptrend line and I was thinking there might be a move back to the 21. The 1hr (see chart) gave a nice bull candle (on the close) at the support level as well. Took 25 on the first, about to close the second for around the same and let the third go to b/e.....
Attached Image
  • #15,262
  • Jun 2, 2008 9:30am Jun 2, 2008 9:30am
Quoting unlv_tj
I keep hearing talk of the EURUSD could find support on the 89 MA on the Daily charts.

On my Daily Chart, with the 89 Simple Moving Average, I have the 89 SMA about 150 pips below where the current EURUSD is trading (trading at 1.5548, 89 SMA at 15396).

Do you have the same thing and just believe the EURUSD will work its way on down to the 89 SMA, or do you have a change to your 89 MA set-up?
Hello on my charts the 89 SMA is at 1.5535...
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #15,263
  • Jun 2, 2008 9:34am Jun 2, 2008 9:34am
Quoting BIL2205
Hello on my charts the 89 SMA is at 1.5535...
Is something set-up differently on my 89 MA?

89 Moving Average
Simple
Apply to Close
0 Shift applied
No Levels applied
  • #15,264
  • Jun 2, 2008 9:48am Jun 2, 2008 9:48am
Quoting unlv_tj
I keep hearing talk of the EURUSD could find support on the 89 MA on the Daily charts.

On my Daily Chart, with the 89 Simple Moving Average, I have the 89 SMA about 150 pips below where the current EURUSD is trading (trading at 1.5548, 89 SMA at 15396).

Do you have the same thing and just believe the EURUSD will work its way on down to the 89 SMA, or do you have a change to your 89 MA set-up?
Mine is at 1.5412 so plenty of space.
  • #15,265
  • Jun 2, 2008 9:56am Jun 2, 2008 9:56am
Different on MT4 and Interbank
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Click to Enlarge Name: 4 Hour Strategy.gif Size: 25 KB
  • #15,266
  • Jun 2, 2008 9:59am Jun 2, 2008 9:59am
Quoting Palmer
I took a long on the EU this morning for the following reasons:

The 4hr was at the uptrend line and I was thinking there might be a move back to the 21. The 1hr (see chart) gave a nice bull candle (on the close) at the support level as well. Took 25 on the first, about to close the second for around the same and let the third go to b/e.....
nice,i have same trade with only 1 position,i entered after some retrace in the next candle.still running
(i thought it is not according this system so i didnt post it live,and then i saw palmers post...)
Attached Image (click to enlarge)
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  • #15,267
  • Jun 2, 2008 10:20am Jun 2, 2008 10:20am
Thank you Phillip. It is strange that the Daily 89 Simple Moving Average could be that much different.
  • #15,268
  • Jun 2, 2008 10:23am Jun 2, 2008 10:23am
Nice bshadroo. I still have one open, about +50 right now. If we get a close above the 21 here, the 89 could be the next target. If the close above the 21 happens we could see a pullback back to the 21, then to the 89 which is around your 1.5600 area as you mentioned previously. Funny how these things work out...
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  • #15,269
  • Edited 11:04am Jun 2, 2008 10:51am | Edited 11:04am
look at that circle,this is strong area and very near to 5600 ,i may close my position
edit:my H4 closed below 21
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  • #15,270
  • Jun 2, 2008 11:01am Jun 2, 2008 11:01am
Quoting unlv_tj
I keep hearing talk of the EURUSD could find support on the 89 MA on the Daily charts.

On my Daily Chart, with the 89 Simple Moving Average, I have the 89 SMA about 150 pips below where the current EURUSD is trading (trading at 1.5548, 89 SMA at 15396).

Do you have the same thing and just believe the EURUSD will work its way on down to the 89 SMA, or do you have a change to your 89 MA set-up?
One factor which might be at play here with this moving average is your server. I dont know what you are using, presumably not MIG. Some servers dont use the weekend candle, the small one every five days. This will make quite abit of differance to the placement of moving averages.
  • #15,271
  • Jun 2, 2008 11:10am Jun 2, 2008 11:10am
Quoting fxinvesta
Hi everybody...
On MIG platform, there was a EUR/USD TC signal after the close of the 12:00 candle. It was a good signal I think, because price was off the 21EMA, although I was cautious of the 365EMA. However, US ISM was due to release at 16:00. So, I stayed out.
The price went down several pips confirming the TC signal at first, but the price has been moving up again, forming a spinner. I would consider that the previous TC signal was invalid.
My question is, how do we trade a signal around news releases?
Would it be better for us to stay out?
Our misfortune to an extent is that the 4hr candle,12pm till 4pm, closes at 3pm ,UK time,when US news events appear. Taking that close is effectively trading the news. Your pays your money and takes your choice on these and with little evidence of the price continuing to fall, taking a TC because it was one defies common sense. Phil can take such trades through experience, but new people take note. Also the Euro traded poorly throughout the day with lack of direction of momentum so the TC was not on, it looked all wrong. I took the first 5 min candle after it for +6, but was not hanging around for more.

I made most of my gains on the GBP which traded well this morning and when you have pips already made who needs the risk.
  • #15,272
  • Jun 2, 2008 12:40pm Jun 2, 2008 12:40pm
How did you trade the pound... Break out?
Morelands


Quoting napeharm
Our misfortune to an extent is that the 4hr candle,12pm till 4pm, closes at 3pm ,UK time,when US news events appear. Taking that close is effectively trading the news. Your pays your money and takes your choice on these and with little evidence of the price continuing to fall, taking a TC because it was one defies common sense. Phil can take such trades through experience, but new people take note. Also the Euro traded poorly throughout the day with lack of direction of momentum so the TC was not on, it looked all wrong. I took the first 5 min candle after it for +6, but was not hanging around for more.

I made most of my gains on the GBP which traded well this morning and when you have pips already made who needs the risk.
  • #15,273
  • Jun 2, 2008 1:53pm Jun 2, 2008 1:53pm
Quoting Morelands
How did you trade the pound... Break out?
Morelands
In between 4hr signals i trade a 5 min method.
  • #15,274
  • Jun 2, 2008 4:30pm Jun 2, 2008 4:30pm
Quoting unlv_tj
Is something set-up differently on my 89 MA?

89 Moving Average
Simple
Apply to Close
0 Shift applied
No Levels applied
You didn't, by chance, plot a smoothed m.a. did you? They're a little different...
  • #15,275
  • Jun 2, 2008 4:57pm Jun 2, 2008 4:57pm
Let watch GU closely. TC on the way on 00:00hr candle. If it gives TC with that tail emotion on the 89sma which will ofcourse close below 89sma, that is high probalility trade. Philip will be happy if we take this trade.

Though, I took 1Hr early entry short @ 1.9657 SL @ 1.9687. TP1 @ 1.9627 and trail the other lot. Pip well.



Please where is Dona. We really miss her. What about Ryn. It will be good for new comers to hear from you.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #15,276
  • Jun 2, 2008 5:47pm Jun 2, 2008 5:47pm
Quoting ejiexe
Let watch GU closely. TC on the way on 00:00hr candle. If it gives TC with that tail emotion on the 89sma which will ofcourse close below 89sma, that is high probalility trade. Philip will be happy if we take this trade.

Though, I took 1Hr early entry short @ 1.9657 SL @ 1.9687. TP1 @ 1.9627 and trail the other lot. Pip well.



Please where is Dona. We really miss her. What about Ryn. It will be good for new comers to hear from you.
Yeah, Donna was a great poster. My guess is that she is still settling into her new routine after moving. I'll PM her and see what's up later...
  • #15,277
  • Jun 2, 2008 6:27pm Jun 2, 2008 6:27pm
Hi Phillip

I am interested in learning more about your 4 hour MACD trading system. I am a novice and currently going through forex material to learn the terminology and to find a system that will suit my trading style. I am very fascinated by your method although I know little about it. I have printed the pdf files that show some of the information about your system, however you have indicated there is more information that need to be accessed, where do I find it. Help assablief.
Many thanks, Jideck.
  • #15,278
  • Jun 2, 2008 7:14pm Jun 2, 2008 7:14pm
Quoting Jideck
Hi Phillip

I am interested in learning more about your 4 hour MACD trading system. I am a novice and currently going through forex material to learn the terminology and to find a system that will suit my trading style. I am very fascinated by your method although I know little about it. I have printed the pdf files that show some of the information about your system, however you have indicated there is more information that need to be accessed, where do I find it. Help assablief.
Many thanks, Jideck.

Jideck:

First of all, welcome to the thread! Phillip's 'gift' that he has given us is really a solid method when followed properly. Probably the biggest hurdle to overcome is the patience and discipline needed to let the market come to you with a signal. For the most part, the method is exactly the same as day one. Phillip has a great eye for spotting opportunities and posts when he can. Another thing to keep in mind is that the MACD indicator is just one tool and should not be traded just on the formations that occur. A lot of weight must be given to how price action reacts to the moving averages, trendlines, channels, etc. There is also a website at http://www.fxtradeblog.com that has a few tools that are helpful. In the tools link you will find the entire year for 2007 for the EURUSD 4hr and 1hr charts. I'ts a good idea to download both of the pdf files, print the charts out and study them. The 1hr charts are there to spot early entries on the 4hr. The 1hr charts should not be traded on until you have the 4hr method down and know the 'rules'. Start with one currency pair and don't jump from pair to pair and start 'trade spotting', this isn't healthy for your account. Go over the method a few times while looking at your charts so you can 'see' how things work. Again, patience and discipline are needed for this method. One pair may only give a few signals per week but the patience pays off. Don't hesitate to ask anything...
  • #15,279
  • Jun 2, 2008 7:38pm Jun 2, 2008 7:38pm
Quoting Palmer
You didn't, by chance, plot a smoothed m.a. did you? They're a little different...
My version of Demo MT4 doesn't give me a weekend/Sunday bar. I bet that is throwing off the daily longer MA's from mine (and Phillips was close) v. Nape's.

Thanks Palmer!
  • #15,280
  • Edited 10:39pm Jun 2, 2008 10:16pm | Edited 10:39pm
I have noticed that on the week when we have Interest Rates, on Tuesday price usually has good movements. Let's see if we have some momentum today and tomorrow.
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