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4 Hour Strategy (MACD)

  • #15,761
  • Edited 8:11pm Jun 26, 2008 7:39pm | Edited 8:11pm
I have a good feeling there will be some kind of retracement on the Eur/Usd. THen maybe the price pushes up the 1.5800 level. The retracement could be back to the 8 or 21EMA. That when you look for the TC, BAm!

Price is at the top of the price channel. And in oversold territory

Been reading this thread for awhile, Philips 4hr system changed my trading.
  • #15,762
  • Jun 26, 2008 8:49pm Jun 26, 2008 8:49pm
Took the short on GBP/USD @.9866, TP @.9846 [email protected]. A little late on the entry, got distracted. Demo only.
  • #15,763
  • Jun 26, 2008 9:21pm Jun 26, 2008 9:21pm
I believe when the Market opens (or just before) in London that when you will see the push up on the price for the GBP/USD and the EUR/USD.
  • #15,764
  • Jun 27, 2008 12:25am Jun 27, 2008 12:25am
I'm waiting for TC's both on E/U and G/U.
  • #15,765
  • Jun 27, 2008 1:40am Jun 27, 2008 1:40am
Looks like G/U is gonna get some rather bad news coming up, may push it down. I still need to learn how to utilize all the moving averages as S/R. Man reading through this thread does get daunting.
Trade Like a Robot make money Like a Bank
  • #15,766
  • Jun 27, 2008 1:44am Jun 27, 2008 1:44am
Quoting svlad1983
hi guys,

do you plan to set up some chat room to talk before taking real trades? or may be there is already such a place?
Hi svlad,

yesterday i took both counter trends on EU and cable

EUR/USD

-closing 4hr candel at 0:00 GMT
-MACD RT above vertical 45 line
-day trendline resistance (brown line) and also price level 1.5800 acting as resistance
- hammer candel

entry @ 1.5759
SL @ 1.5791
TP1 @ 8ema, while its counter trend
will set BE @ 1.5759 when TP1 will be reached

Attached Image (click to enlarge)
Click to Enlarge Name: eurusde.gif Size: 26 KB


GBP/USD
- closing 4hr candel at 0:00 GMT
- MACD RT above vertical 45 line
-price level 1.9900 and fib 100 resistance

entry @ 1.9874
SL @ 1.9907
TP1 @ 8ema - also counter trend
BE @ 1.9874 when TP1 will be reached

Attached Image (click to enlarge)
Click to Enlarge Name: usdgbp.gif Size: 27 KB
  • #15,767
  • Jun 27, 2008 1:48am Jun 27, 2008 1:48am
also see lack of price action on GBP/USD, so I will wait till 6:00 GMT candle close and if no action will be there i will close it manualy (can turn to TC pattern, while my resistance is price level 1.9900 only)
  • #15,768
  • Jun 27, 2008 2:32am Jun 27, 2008 2:32am
Quoting Copino
Hi svlad,

yesterday i took both counter trends on EU and cable

EUR/USD

-closing 4hr candel at 0:00 GMT
-MACD RT above vertical 45 line
-day trendline resistance (brown line) and also price level 1.5800 acting as resistance
- hammer candel

entry @ 1.5759
SL @ 1.5791
TP1 @ 8ema, while its counter trend
will set BE @ 1.5759 when TP1 will be reached

Attachment

GBP/USD
- closing 4hr candel at 0:00 GMT
- MACD RT above vertical 45 line
-price level 1.9900 and fib 100 resistance

entry @ 1.9874
SL @ 1.9907
TP1 @ 8ema - also counter trend
BE @ 1.9874 when TP1 will be reached

Attachment
I took short on EUR/USD also last night, put TP @ 1.5660... you think will hit it?
  • #15,769
  • Jun 27, 2008 2:33am Jun 27, 2008 2:33am
Quoting Copino
also see lack of price action on GBP/USD, so I will wait till 6:00 GMT candle close and if no action will be there i will close it manualy (can turn to TC pattern, while my resistance is price level 1.9900 only)

U have a short on E/U??

sonic
  • #15,770
  • Jun 27, 2008 3:12am Jun 27, 2008 3:12am
Yes,
E/U short, cable short. I've already close 50 % because i have some work to do and will be unable to watch market.

E/U - 1 of 2 minilot closed (+16 pips)
cable - 1 of 2 minilot closed (+ 39 pips)

SL in both cases moved to entry price, to give it a chance

happy pips guys.
  • #15,771
  • Jun 27, 2008 3:20am Jun 27, 2008 3:20am
Quoting Copino
Yes,
E/U short, cable short. I've already close 50 % because i have some work to do and will be unable to watch market.

E/U - 1 of 2 minilot closed (+16 pips)
cable - 1 of 2 minilot closed (+ 39 pips)

SL in both cases moved to entry price, to give it a chance

happy pips guys.


yeah i'm in the office now, so can look into forum, but not at my MT, which is left alone at home...
  • #15,772
  • Jun 27, 2008 4:14am Jun 27, 2008 4:14am
want to ask if eur/usd give tc and the green candle is still like that picture inside that trendline which correct scenario must be play?.. wait for retracement and enter hope that price breakout to top? or wait for breakout and price comeback to it?.
Attached Image (click to enlarge)
Click to Enlarge Name: my system.png Size: 14 KB
  • #15,773
  • Jun 27, 2008 4:21am Jun 27, 2008 4:21am
Quoting poplar
want to ask if eur/usd give tc and the green candle is still like that picture inside that trendline which scenario must be play?.. wait for retracement and enter hope that price breakout to top? or wait for breakout and price comeback to it?.
i ususally do the seccond solution ,but i'v seen sometimes phillip buy/sell at the close of candle .the picture below is the trade wich phillip done before,he bought brfore breakout and then price broke the TL
Attached Image (click to enlarge)
Click to Enlarge Name: ee.gif Size: 21 KB
  • #15,774
  • Jun 27, 2008 4:50am Jun 27, 2008 4:50am
Quoting bshadroo
i ususally do the seccond solution ,but i'v seen sometimes phillip buy/sell at the close of candle .the picture below is the trade wich phillip done before,he bought brfore breakout and then price broke the TL
thanks bshadroo that picture help, i see that's longer consolidation, many small body doji, hammer , and then come that power candle.

i think i will wait if macd show tc and wait for next candle 4 hour form for break out. or maybe enter with retracement .. very big sl more than 40 .. think
  • #15,775
  • Jun 27, 2008 5:03am Jun 27, 2008 5:03am
Took the short on GBP/USD @.9866, TP @.9846 [i][color=silver][email protected][/color][/i]. A little late on the entry, got distracted. Demo only.

TP hit on GBP Short @.9846 while sleeping.
  • #15,776
  • Jun 27, 2008 5:15am Jun 27, 2008 5:15am
Quoting poplar
thanks bshadroo that picture help, i see that's longer consolidation, many small body doji, hammer , and then come that power candle.

i think i will wait if macd show tc and wait for next candle 4 hour form for break out. or maybe enter with retracement .. very big sl more than 40 .. think
for instance look at the current situation,price can goes either way .H4 closed with green macd but its still below the daily TL.
look at the H1 inset,there is a doji in H1 wich is can be a reversal alarm
and the m5 there is a TL below and price should decide waht wanna do
i beleive if it break down(and close b elow 50) it can goes down more and if it bounce of the M5 TL it can break the daily TL
Attached Image (click to enlarge)
Click to Enlarge Name: ee.gif Size: 22 KB
  • #15,777
  • Jun 27, 2008 6:17am Jun 27, 2008 6:17am
Quoting bshadroo
for instance look at the current situation,price can goes either way .H4 closed with green macd but its still below the daily TL.
look at the H1 inset,there is a doji in H1 wich is can be a reversal alarm
and the m5 there is a TL below and price should decide waht wanna do
i beleive if it break down(and close b elow 50) it can goes down more and if it bounce of the M5 TL it can break the daily TL
yes like u said price already break that 50 and going down fast after think about it macd tc is not very convincing rather small, and that tail to that daily resistance, nothing important news and it's friday i think i will step a side and wait for breakout in next candle close if it happen. maybe it will consolidation for a moment. sory bad english.
  • #15,778
  • Edited 7:54am Jun 27, 2008 6:31am | Edited 7:54am
Hi guys, I'm currently using the Philip Nel's 5min strategy chat on SKYPE, which is very focused and great help. (many thanks to Golfer!)

Not sure if there's demand for a similar chat for the 4h strategy since many attempts seem to have died in the past, but we can try anyway.

Please contact MxPips or islandtrader1 on skype to be added to 'Philip Nel's 4 Hour Strategy (MACD)' group chat.
  • #15,779
  • Jun 27, 2008 7:35am Jun 27, 2008 7:35am
Quoting poplar
want to ask if eur/usd give tc and the green candle is still like that picture inside that trendline which correct scenario must be play?.. wait for retracement and enter hope that price breakout to top? or wait for breakout and price comeback to it?.
The question is very important. When you want to brake TL, you have to know, what is this TL. I explaine whit these 2 TCs:

1. TC - Phillip's trade. There was a TC and TL. Both support action "buy", because: The TC is near 0 - that means, the volatility is low, the movement beginns. The TL - this TL is necline of the H&S. That was the idea of Phillip. Above this line there where no resistances.

2. TC - your idea. OK. What do we have? TC is on 45 - high volatility, may be the movement is over (may be, nowbody knows). If you look at the chart, that is the place where the nice movements end. TL - what TL is that? It is the upper line of the channel, rising channel. When we have rising channel, it breaks usualy on the down side. The upper side is possibility for better entry. What do we have above our TL - another TL, more stronger.

And in the end. It is not visibible here, but by the 1. TC the price was near 21 ema. By the 2. TC is far away. The Price usualy goes in certain boundary from the central tendency, from the trend. Our trend is the 21 ema.

I hope, that helps you to understand the difference.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 18 KB
  • #15,780
  • Jun 27, 2008 7:45am Jun 27, 2008 7:45am
Hi everyone. I am studding this thread for a whil now, and I decided to make my first live trade. I got long on UC, price is near support on daily, and MACD give a VB signal. I entered only one 0.01 micro lot, and my target is 61.8 retracement of previous two candles( near 8EMA). Is this in accordance with the rules? I know that this is countertrend trade, but I juist want to get a feel for it, because it is different when your money is on the line...
Attached Image (click to enlarge)
Click to Enlarge Name: uc.gif Size: 19 KB
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