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4 Hour Strategy (MACD)

  • #15,501
  • Jun 13, 2008 3:20am Jun 13, 2008 3:20am
Great trade Phillip. I just though eu would have tested bottom trend line and formed a HL. Unbelievable your early entry has such a high probability to success.
Plan your trades and trade your plans
  • #15,502
  • Jun 13, 2008 3:25am Jun 13, 2008 3:25am
http://www.forexfactory.com/images/icons/icon14.gif Phillip you are the best http://www.forexfactory.com/images/icons/icon14.gif
No one is better than the creator!
Diligence is the mother of good fortune!
  • #15,503
  • Jun 13, 2008 3:34am Jun 13, 2008 3:34am
Learning something from you every time, Phillip!
By the way, 1H also showed good rhythm that could help to make a positioning entry (though a bit lower than your's from 4H, at ~1,5411). I saw it forming but was not sure and passed. Eeeh...
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Click to Enlarge Name: EURUSD-13-06-08-rhythm.gif Size: 37 KB
  • #15,504
  • Jun 13, 2008 3:43am Jun 13, 2008 3:43am
I had a beautiful TC on the MACD on my platform, but didn't take it because I thought that support would hold. And didn't have the courage, because the g/u trade I took earlier stop me out going up so I thought usd is getting weak.
Well should have set stop to the trendline, because g/u is coming back down forming tc on4h and 1h.I will try again to get in.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 38 KB
Diligence is the mother of good fortune!
  • #15,505
  • Jun 13, 2008 3:51am Jun 13, 2008 3:51am
Looking at the 4H and the daily it looks like the GU has reached a support level of 1.4333, the MACD may close on a higher low, signalling a possible move up.

But, the news is due on inflation m/m in less than 2 hours. So I'm going to watch this one and learn a thing or two, rather than gain a pip or two.

I'm learning this system and wonder if I'm getting the hang of it. So any feedback is appreciated.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4h gu.gif Size: 45 KB
Click to Enlarge Name: daily gu.gif Size: 46 KB
  • #15,506
  • Edited 4:32am Jun 13, 2008 4:08am | Edited 4:32am
superb trade mr philip, just learn your method, i only think when i see that 2 candle with tail up and bottom what indecesion candle i will stay out from that and i not look that pair again for a while. and not realize that SHS is there. sorry bad english..

yorik:
yes i saw that broken suport in 1 hour and i open sell position when that bearish candle with tail broke that suport but when i see again that 4 hour candle before (doji with up and down tail)i become scared and when that green candle up very fast i become scared and closed my position for -20 i think.. what a shame..

still long in USD/JPY. closed it or not before news.. any comment about it
  • #15,507
  • Jun 13, 2008 4:48am Jun 13, 2008 4:48am
Quoting Morelands
I took it with 20 pips on the 1st and BE on the second. Should of taken the 35+ pips I was up on the second because it was a CT. Next time. Hind sight is 20/20.
Morelands
Morelands:

The good thing here is that you spotted the CT trade and took advantage of it. Don't feel bad about missing out on pips going against the grain. I took out 21 as well.
  • #15,508
  • Jun 13, 2008 4:51am Jun 13, 2008 4:51am
Quoting saka
Oh, dear Palmer, are you talking with me? In fact I absolutely consider 5min strategy as an assistant strategy for 4h. My basic anaylsis is on 4h, and I find good 5min oppotunity to enter especially quit , my sl is on 4h's and I also use 5min to enter my another lot when sometimes 4h sl is big or it doesn't retrace I enter to catch the trend. 5min is a good tool to observe big trend
saka:

I agree, once you 'see' 5 the minute as well, and know when NOT to get in there, if there is a set-up on the 4hr or 1hr, it may be a signal that the move is starting on the higher timeframe.
  • #15,509
  • Jun 13, 2008 5:03am Jun 13, 2008 5:03am
Quoting fena74
Yes that was nice CT over 8 on EUD/USD but I see that now I miss a nice TC
with MACD signal confirmed,not so flat signal but it is a signal on the same EUR/USD and as most expected it retrace from 8 till the trendline.I hope the EUR/USD is getting back to its normal satisfying our 4Hr rules way.

fena:

Don't worry about missing a signal, there will be more to come. I've said before that if I was given one super-power, it would be the ability to not require sleep. Flying would be cool though...

There's been a lot of movement in the pairs over the last several bars and there is a 'red flag' news release in about 30 mins. Tighten up stops or sit back and let the news wash out....
  • #15,510
  • Jun 13, 2008 5:04am Jun 13, 2008 5:04am
I'll say this again too:

Phillip is THE Jedi Master.
  • #15,511
  • Jun 13, 2008 5:54am Jun 13, 2008 5:54am
hi palmer
i see u r here and i wanna ask u a question.price is in my strong support area and i wanna go long based on H1 if it is possible,what do u think ? is it good to get in in this area?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 31 KB
  • #15,512
  • Jun 13, 2008 6:12am Jun 13, 2008 6:12am
bsh:

I've been looking at that too. The EU is acting a lot like it did yesterday = trying to get back at least to the 8, but the current price range has been stuck for the last 3 hours or so (+/- 30 pips). I may watch the 5min for some early direction. The 1hr is trying to do something to the upside, I just don't see it there yet...We're on the same wavelength here. I'll be away from the PC for about 3 hours in about 2 hours from now so that's about all the time I have for today. This is the level I would like to see broken...
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  • #15,513
  • Jun 13, 2008 7:03am Jun 13, 2008 7:03am
Things might be stirring. I shorted the USDJPY on the 5min so if the EU starts moving up, I might be able to pull a few more out on JY side.
  • #15,514
  • Jun 13, 2008 7:07am Jun 13, 2008 7:07am
Quick 19 on the JY, EU back below resistance.
  • #15,515
  • Edited 8:02am Jun 13, 2008 7:37am | Edited 8:02am
i longed eu at 5340 and looking for a sell for uj,palmer: does eu long looks good?
edit:closed eu at BE ,h1 closeed bad
  • #15,516
  • Jun 13, 2008 9:33am Jun 13, 2008 9:33am
...and there it went. I was away from the PC but was able to pull in about 20 on one position when the 5min woke up. Even on the close of the 1hr above the resistance there was still about 40 for the taking. That's it for me. The EURJPY gave up a few nice TC's off the 21 this week that were at a support level as well. I managed to catch two of them. Price has closed below the 21 now so next week might paint a different picture.

Till next week...
Attached Image
  • #15,517
  • Jun 14, 2008 11:39am Jun 14, 2008 11:39am
ok,I have tried so many backtesting and I can not still find the answer if I see a signal and the previous candle is too long-over 50-70 pips how to manage my stop loss.In many cases as I can see if I have a proper TC signal from MACD and the price is bounce off the 21 I have a good chanse for enter but the previous candle is most of the time very very long.Any advice?It is a big think that bother me all the time and I can not manage right stop loss in this case.Thank you.
  • #15,518
  • Jun 15, 2008 5:07am Jun 15, 2008 5:07am
Quoting fena74
ok,I have tried so many backtesting and I can not still find the answer if I see a signal and the previous candle is too long-over 50-70 pips how to manage my stop loss.In many cases as I can see if I have a proper TC signal from MACD and the price is bounce off the 21 I have a good chanse for enter but the previous candle is most of the time very very long.Any advice?It is a big think that bother me all the time and I can not manage right stop loss in this case.Thank you.
All the important links is on Page 1

PhillipNel LargeCandle Entry Spread page 651 post 9759 21Dec2007.doc....................page 652.... post 9771
  • #15,519
  • Jun 15, 2008 5:33am Jun 15, 2008 5:33am
See Page 1 for a full list of important stuff to go through.
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  • #15,520
  • Jun 15, 2008 5:41am Jun 15, 2008 5:41am
Quoting Phillip Nel
See Page 1 for a full list of important stuff to go through.
thx philip!!
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