4 Hour Strategy (MACD)

Looks like EUR/USD is going to give a entry signal to go long.

Can you explain where is the signal? Cuz as i see it, it is downtrend... or i am mistaken?

Seki,
COG posted this comment right before a very quick down move.
Look at all the potential resistance around 1.5600 on the hour chart.

Thanks Hookem )) Will study more and more!

Wow~
The market is like a rollercoaster right now.
Someone is gonna get a heart attack when he/she gets in there.
Bernanke vs. Trichet. Who is gonna win? Doesn't really matter, because as long as we wait for the market to calm down and let it come to us we'll apply Phillip's strategy and then we'll be the winners.
Let's hope the ride will be soon over.
Patience, patience, patience.

I trade the EURJPY with Phillip's 5 min method and that sell is from that timeframe. But, this is setting up for a TC on the 4hr so just a head's up here...

Hi Palmer

Where can i find out about Phillips 5 min method?

Thanks

John

http://www.forexfactory.com/showthre...11854&page=286

Right,i didn´t find any active chat on skype for 4hour macd traders, so I decided to create one.just click on the link to enter the chat:

http://www.skype.com/go/joinpublicch...-p9dxR6CjegeYw

Got long on the EJ when price broke through the two previous highs per the 1hr. I've got a few retrace orders in here as well so we'll see. Took about 30 on the first lot...

Could enter JPY on a retrace.

Written copy of Phillip's post on prior page.

do i see a long signal on EUR/USD rite now? looks like a pretty good RB to me...anyone thinkin of it?

Hi Shazzz!
I see on your chart no trendlines drawn.
They are one of the most important thing when it come to trading,
especially in forex.
On my chart there's still room to the downside support.
I'm anticipating price to retrace to 8,365ema or it could retrace all the way
to 21ema200sma. But since the e/u is in a very very bearish mode it's more
likely to retrace to the 8ema. From there when the macd gives us a nice
signal we could take that trade to the bottom trendline. When it moves to the 21ema or 200sma the same, waiting for macd to confirm the tc!
I wouldn't trade the countertrend trade, because price can make a tail down before retracing to the ma's. Only ct trade the more reliable one like as I said
when it moves up with a tail you can get in after the tail signals, but it's gotta be a nice tail. That's my point of view.
But it's still way to early to go long.
Don't forget the trendlines!!

Song,

Nice little more on eur/usd to the long side. Used the 5 min break of its last high for entry +19. 1:05 to 1:33 central time

sold usdcad at 1.0235,closed first for +30 and seccond is running.
comments on chart

That was the more reliable ct trade I was talking about.
Move up to 21 with a beautyful tail off the bottom TL.
Too bad I didn't take it. http://www.forexfactory.com/images/icons/icon9.gifhttp://www.forexfactory.com/images/icons/icon9.gif
Was too focused on e/u and it was sleeping time here
all the way back in California.
I'm having difficulty adjusting trading time and sleeping time.
The best time to trade would be from around 12am-6am here in
the westcoast.
Is anyone in the same boat with me?
Anyways, lets wait for the market to come to us.
G/U could go all the way to 200sma and perhaps to 89sma if it doesn't TC off the 21.
Let's be patient like a hunter and pull the trigger when it's in our range.

Since u requested for comments on the chart, I will pass on mine.

1. There is no signal on your chart when u entered the trade according to 4HR MACD system.

2. It is a gamble trade and nothing more.

Though the trade worked our for you but it is not according to the rule. You should have waited for the price to close below 21 with cross of zero on MACD which it has done right now. Wait for retracement back to 21 forming round bottom on MACD as well and a TC to go down to 89. That is the rhythm of the market.

Both the EURJPY and GBPUSD are at the 21 for potential TC's...watching.

ejiexe: i have a red signal in H4 macd but ur comments are completely correct about H4 rhythm.my trade was more likely to a H1 trade and sorry to post it if it is not according to rhythm.but i should defence myself:
yesterday price was at weekly resistance around 1.0300,they didnt cut the rate (wich trades was expecting), this thing caused a sharp decline about 100pips,price rest on the daily trend line making a triangle yesterday night and i was watching it for a possible break out knowing if it breaks the triangle it can moves another 100pips because of flag pattern,daily candle was also a pinbar wich was encouraging me to go short.
remember phillip also have some trades purely on price action and while i knew all this information about usdcad , why i should wait for a macd zero break and pull back to 21? at least we cannot say it was a gambling. (any other ideas are also appreciated abiut this conversation,is that a gambling?)