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4 Hour Strategy (MACD)

  • #15,901
  • Jul 4, 2008 2:23am Jul 4, 2008 2:23am
Quoting ghous
nothing can be said till the close of this bar, if the price does hold by the trendline the roundbottom will woek out on the other hand if this 4H candle closes down to be a bearish candle it will be a very good TC pattern in which case the destination might be the 89SMA in both cases.
hi ,

thanks for the answer , in "both cases" you mean e\u g\u ?

i know this thread is about 4h tf , but phillip also say to look at the bigger picture , so when i look on the dailly \ weeklly chart , even it is too earlly to say , i can't help not to see the big pottential for short on he longer term (e\u)- what do you and everybody elses thoughts ?
thanks..
  • #15,902
  • Jul 4, 2008 2:28am Jul 4, 2008 2:28am
Quoting Barak's pip
hi ,

thanks for the answer , in "both cases" you mean e\u g\u ?

i know this thread is about 4h tf , but phillip also say to look at the bigger picture , so when i look on the dailly \ weeklly chart , even it is too earlly to say , i can't help not to see the big pottential for short on he longer term (e\u)- what do you and everybody elses thoughts ?
thanks..
higher tf's are not showing any direction atall...lot's ranging going on..


and yes by both i mean Eu and Gu...

BTW this situation is highly favoring a short my anticipation is down for sure, i know there is a major support 1.98 for Gu and some support for Eu too but then again it seems to be following the market rythm Phillip so frequently talks abt...price going back to the 8 ema and rebounding to continue the trend. would really love to see this candle allow a TC formation on the MACD...
I believe . . .
  • #15,903
  • Jul 4, 2008 2:40am Jul 4, 2008 2:40am
I saw RB on e/u, g/u, but it just turned to TC pattern.Price is above 89 sma in e/u, g/u so mood is bullish. At that point I donīt know how to consider this situation.Any thoughts ?
  • #15,904
  • Jul 4, 2008 2:47am Jul 4, 2008 2:47am
see 1h chart e\u the situation looks like long ?!
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  • #15,905
  • Jul 4, 2008 3:43am Jul 4, 2008 3:43am
Quoting Copino
I saw RB on e/u, g/u, but it just turned to TC pattern.Price is above 89 sma in e/u, g/u so mood is bullish. At that point I donīt know how to consider this situation.Any thoughts ?
hi
we have same situation for both eu and gu .we should wait and see wich way (1 or 2) will confirm for them .i myself think the #1 way is more possible (just my feeling) but we should wait and see for more confirmation .
if u wanna sell u should wait for the TL broken down for both ,and if u wanna buy u should wait for the down TL broken up for gu and some confirmations (like higher lows or ...) for eu .
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  • #15,906
  • Edited 5:06am Jul 4, 2008 4:06am | Edited 5:06am
Hi traders,
I love the way GU forcing a downward move trying to form a TC in my chart.
Will decide an entry the next hour.

edit: no trade, there is a long tail + macd signal disappeared
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  • #15,907
  • Jul 4, 2008 4:11am Jul 4, 2008 4:11am
lol both my logns got a beating....i hit my SL...

anyways both these pairs Eu and Gu are at a no signal stage, i'll wait for it to atleast hit the 89 SMA and then we'll see...untill then any trades long and short can be dangerous
I believe . . .
  • #15,908
  • Jul 4, 2008 4:52am Jul 4, 2008 4:52am
Hi fellow traders,

Be careful we have 38% and 50% of Fibonacci convergence at thses levels supported.


Just a warning !

May God blessed all of you for the trading


SRILOBA
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  • #15,909
  • Edited 6:47am Jul 4, 2008 6:20am | Edited 6:47am
didn't anyone took eu short? at least i did. TC + a breakout
closed for +16pips. 20 pips Trailing Stop stops it
  • #15,910
  • Jul 4, 2008 1:04pm Jul 4, 2008 1:04pm
ok the round bottoms have formed nicely i am long on both Eu (at 1.5708) and Gu (at 1.9837)...fingers crossed...
I believe . . .
  • #15,911
  • Jul 4, 2008 4:43pm Jul 4, 2008 4:43pm
Quoting ghous
ok the round bottoms have formed nicely i am long on both Eu (at 1.5708) and Gu (at 1.9837)...fingers crossed...
i see nothing..

happy weekend everyone
  • #15,912
  • Jul 4, 2008 11:05pm Jul 4, 2008 11:05pm
Quoting Phillip Nel
Thanks for this writing.

I found that people new to Forex have difficulty in flowing and seeing the rhythm and want to trade to often.

Those that have lost an account or even more than one account and learned the hard way found this system very profitable. It is all about waiting and managing trades with the intension to have a minimum loss if it turns against me and the oppertunity to move with it if it is on the move.

Some experience is also needed especially the emotional part as a believe in the system and give each position a chance to develope.

By doing the same thing constantly you will get good at it.

Thank you Phillip,

I've read many books & attended many seminars but I found that this forum is the best of all. I'm still new to this forum,I found this forum about 2 months ago I read 1-13 lessons 3 times now I still need to learn a lot about rhythm & emotion. I wish I can trade like you (100 trades but only 9 losses) that was great & fantastic. I have a lot to learn and I am very confident that I will success because right now I can see the light in tunnel(because of this forum) even though the light is a bit dim but it will be bright in the future(need more time).

Agian Thank you Phillip for your knowledge & hard work for this forum to help all newbies.

Best regards,

Pete.
  • #15,913
  • Edited 11:44pm Jul 4, 2008 11:23pm | Edited 11:44pm
Quoting sriloba
Hi Pete,

I take a signal on higher time frame mostly on the 4 hour and 1 hour chart (4 Hour MACD strategy) and I like to enter a trade in the 15 minute or 5 minute for a minimum risk with 20-25 pips stop lost.

Set up on 15 Minute and 5 Minute chart:
-89 sma
-8/21/55 ema
-macd(8,13,1)
-stochastic(8,3,3)
-daily pivot point

SRILOBA
Hi Sriloba,

Thank you for your reply. I mean - trading 5 mins time frame by using 5mins intraday system(it is another system which is under - 5 mins intraday system forum in forex factory by Phillip Neil too).

By the way I will be appriciated if you can briefly explain how you apply your 15 & 5 mins entry(I like 20-25 mins stop/loss) I have to find my own method but I still need to learn from experienced trader like you and of course mater Phillip & also Palmer.

Thank you,

Pete
  • #15,914
  • Edited 12:35am Jul 5, 2008 12:12am | Edited 12:35am
Hi Pete,


There is a trade that I took a 2 july.

On 4 hour chart, the 12:00 candle retest the 21 ema (high probability trade).
But this candle did not completed yet. So I went to 1 hour chart and I saw double bottom and macd gave a tc. So I enter a trade in the 15 minute (or 5 minute) chart when price retrace to the 21 ema the blue circle (15 minute chart). Because I like to put a stop lost 20-25 pips plus a high probability trade because price retests the 21 ema and the same time you enter a trade with a better price.

I like to initiate a trade when price retest the area of 8/21 ema in the lower time frame (15m or 5 m chart).

It is very powerful to trade multi time frame because you can follow price action efficiently.

Yes, I read the 5 minute system of Philip but I did not have a chance to test it.


SRILOBA
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Being a fxtrader is not easy. Ones must working hard.
  • #15,915
  • Jul 5, 2008 4:21am Jul 5, 2008 4:21am
Quoting hijackxx
i see nothing..

happy weekend everyone
lol! i entered cuz of the rounbottmos on the MACD and i see the second last candle of the week (on the 4H) close like a good reversal candle, the 89 SMA and the 200 EMA are also close this could be a bounce to continue the previous trend after that sudden interreption from the NFP news.
I believe . . .
  • #15,916
  • Jul 5, 2008 5:34am Jul 5, 2008 5:34am
Quoting sriloba
Hi Pete,


There is a trade that I took a 2 july.

On 4 hour chart, the 12:00 candle retest the 21 ema (high probability trade).
But this candle did not completed yet. So I went to 1 hour chart and I saw double bottom and macd gave a tc. So I enter a trade in the 15 minute (or 5 minute) chart when price retrace to the 21 ema the blue circle (15 minute chart). Because I like to put a stop lost 20-25 pips plus a high probability trade because price retests the 21 ema and the same time you enter a trade with a better price.

I like to initiate a trade when price retest the area of 8/21 ema in the lower time frame (15m or 5 m chart).

It is very powerful to trade multi time frame because you can follow price action efficiently.

Yes, I read the 5 minute system of Philip but I did not have a chance to test it.


SRILOBA
Hi Sriloba,

Thank you very much for explaination & charts which help me a lot to understand.

Have a good weekend Sriloba & everyone.

Pete.
  • #15,917
  • Jul 5, 2008 6:13am Jul 5, 2008 6:13am
hi ,

i would like to ask your opinion regarding this pottential trade , there is round bottom on macd , the price is making tails - so is there a good chance for a long when the 8 ma is first target ,21ma second and ressistant at 1.5810 third target?(if this right there the price wil perform sHs?)

where is a good place to put stop loss ?

many thanks..
Barak.
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  • #15,918
  • Jul 5, 2008 6:49am Jul 5, 2008 6:49am
Quoting Barak's pip
hi ,

i would like to ask your opinion regarding this pottential trade , there is round bottom on macd , the price is making tails - so is there a good chance for a long when the 8 ma is first target ,21ma second and ressistant at 1.5810 third target?(if this right there the price wil perform sHs?)

where is a good place to put stop loss ?

many thanks..
Barak.
Hi Barak, i have my SL at 1.5620 with my Tp stages exactly like you mentioned i.e the 8 ema then the 21 and then the price level. the reason i chose it was that it lies just below the 2 major MA's that is the 89 SMA and the 200 EMA plus it's an important price level in terms of support and resistance if you scroll back to backtest it.

best of luck...
I believe . . .
  • #15,919
  • Jul 5, 2008 7:48am Jul 5, 2008 7:48am
The EurUsd has given a TC for a short(allthough not a good signal) after the 08:00-12:00 candle.

Market rhythm was excellent according to the rules. Closed below 21ema, then a pullback to it and then down to the 89sma. It was also a breakout below a TL, then a pullback to the TL and then a TC on the MACD.

It was holiday in USD so decided to only take 50% position due to possible big moves because of low volume.(The market sometimes jump very much up and down on low volume on holidays).

Entered 1.5690
SL 1.5727
TP full at 1.5660-1.5650(close to 89sma)

Edit 1
Position closed at 1.5660

Total gain (30)/2 = 15pips
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  • #15,920
  • Jul 5, 2008 8:53am Jul 5, 2008 8:53am
Can this sytem be traded on smaller time frames ? did someone test that ? thanks Walter.
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