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4 Hour Strategy (MACD)

  • #15,921
  • Jul 5, 2008 10:08am Jul 5, 2008 10:08am
Hi Walterw,

Yes, the 4 hour macd strategy can be traded on any times frames.

I was a very lucky student to have a kindness teacher like Phillip Nel who gave a lot of his time to teach properly the newbies traders of forex FOR FREE WITH A LOT OF PDF AND MP3.

I wish him a lot of success of trading.

May God bless him and his family.


SRILOBA
Being a fxtrader is not easy. Ones must working hard.
  • #15,922
  • Jul 5, 2008 10:52am Jul 5, 2008 10:52am
Quoting sriloba
Hi Walterw,

Yes, the 4 hour macd strategy can be traded on any times frames.

I was a very lucky student to have a kindness teacher like Phillip Nel who gave a lot of his time to teach properly the newbies traders of forex FOR FREE WITH A LOT OF PDF AND MP3.

I wish him a lot of success of trading.

May God bless him and his family.


SRILOBA
He certainly is a very generous person... and his system are very nice ones, cheers Walter.
{Promotion Removed}
  • #15,923
  • Edited 12:04pm Jul 5, 2008 11:46am | Edited 12:04pm
Hi fellow traders,

On 4 hour chart, price seems to retest the 21 ema and the daily trend line. If it does and macd gives a tc it is a short trade or down trend continuation pattern (because macd histograms locate below the water line or zero line) with a high probability according to the rule.

I will see on Monday at the London opens.



Have a nice weekend everyone!

SRILOBA
Attached Image
Being a fxtrader is not easy. Ones must working hard.
  • #15,924
  • Jul 5, 2008 1:00pm Jul 5, 2008 1:00pm
Quoting Phillip Nel
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

could this not be preparing for a long? those tails and the roundbottoms, the SMA's are close to the price infact the price bounced few pips from the 89 SMA, to me this looked like a long and i went for it...am i wrong their Master Phillip?
I believe . . .
  • #15,925
  • Jul 5, 2008 1:13pm Jul 5, 2008 1:13pm
Quoting ghous
could this not be preparing for a long? those tails and the roundbottoms, the SMA's are close to the price infact the price bounced few pips from the 89 SMA, to me this looked like a long and i went for it...am i wrong their Master Phillip?
i guess those candle tails were playing heavily on my mind if i ignore them i can see why a long here can be risky, so perhaps i have a best chance of closing my trades when the market on Monday looks to test the 21 or the 8 EMA before the the strong bearish TC move on the MACD...i would hate to see my first trades going bad...no!!!!
I believe . . .
  • #15,926
  • Jul 5, 2008 1:57pm Jul 5, 2008 1:57pm
Quoting ghous
could this not be preparing for a long? those tails and the roundbottoms, the SMA's are close to the price infact the price bounced few pips from the 89 SMA, to me this looked like a long and i went for it...am i wrong their Master Phillip?
hi
phillip has ofcourse a better answear but please let me say my oponion about CT trades.ct trades are usually more risky than TCs ,ur R:R should be no more than 1:1 if u wanna trade CT and there should be enough room to 21 or 8 because u need to take profit between them and set reminder at BE.my advise is to try only TC trades if u r new to this system ,i myself haveburend many times in CT trades and now i enter CT trade only when the Risk:reward = 1:2 or better(forexample i wait for retrace after siganl candle to reduce my SL size) and there is a major level/trendline or nice tail .
  • #15,927
  • Jul 6, 2008 12:32am Jul 6, 2008 12:32am
I like the simplicity in your system.
  • #15,928
  • Jul 6, 2008 3:07am Jul 6, 2008 3:07am
Quoting bshadroo
hi
phillip has ofcourse a better answear but please let me say my oponion about CT trades.ct trades are usually more risky than TCs ,ur R:R should be no more than 1:1 if u wanna trade CT and there should be enough room to 21 or 8 because u need to take profit between them and set reminder at BE.my advise is to try only TC trades if u r new to this system ,i myself haveburend many times in CT trades and now i enter CT trade only when the Risk:reward = 1:2 or better(forexample i wait for retrace after siganl candle to reduce my SL size) and there is a major level/trendline or nice tail .
there were both, i.e nice tails around and an impotant price level of 1.98 on Gu and 1.57 on Eu, that was actually the real thing that pushed me on with the trade, and yes i misunderstood the CT part, as my first trade of the system i should never have gone CT. What i thought was that by actually taking long i am taking a TC move as the overall trend was up except the NFP impact...so i may have got it all wrong...but then again this does'nt mean i close my trades the moment market opens on Monday now that i have taken it i need to hope for the best and hope that the price does make it back to atleast the 8 EMA so that i can atleast get a breakeven as it is i am not too negitive ine ach of those trades -11 on EU and -12 on Gu so i need to gie myself a better chance. lol! i can;'t wait for monday...it sucks to get caught with bad trades being held all the way through the weekend...
I believe . . .
  • #15,929
  • Jul 6, 2008 7:27am Jul 6, 2008 7:27am
Hi Everyone,

Thank you so much for all your good wishes and support, it means so much to me! (for those who are wondering, I had a brain haemhorrage about 6 weeks ago).

I'm doing really well; threw away my walking stick yesterday, as I can now walk again unaided!!

Still got a bit of work to do to sort out my speech - it still sounds like I've had several pints of the landlord's finest ale, I wouldn't mind quite so much but I'm not allowed to drink alcohol at all! Oh well, it will improve, it just needs time.

I still can't spend long at a computer, and certainly not on the charts, but I can print out the charts and look at them. I am studying the four major pairs, looking back at all last year plus up to July so far this year. It's great, I'm learning loads and I think it will really help with rhythm recognition and confidence in the future. If you have the time and the inclination, I seriously recommend you do the same for your favourite pair!

Well, I feel a bit unwell again after all this typing, so I'll leave you to your studies.

Trade well, trade intelligently, and trade with confidence.

Cheery bye for now,
Rebecca,x.
May all your pips grow into great big fruitful trees
  • #15,930
  • Jul 6, 2008 9:47am Jul 6, 2008 9:47am
rebecca:
nice to hear u again.get well soon .GU and my dictionary are waiting for u
  • #15,931
  • Jul 6, 2008 9:49am Jul 6, 2008 9:49am
Quoting ghous
there were both, i.e nice tails around and an impotant price level of 1.98 on Gu and 1.57 on Eu, that was actually the real thing that pushed me on with the trade, and yes i misunderstood the CT part, as my first trade of the system i should never have gone CT. What i thought was that by actually taking long i am taking a TC move as the overall trend was up except the NFP impact...so i may have got it all wrong...but then again this does'nt mean i close my trades the moment market opens on Monday now that i have taken it i need to hope for the best and hope that the price does make it back to atleast the 8 EMA so that i can atleast get a breakeven as it is i am not too negitive ine ach of those trades -11 on EU and -12 on Gu so i need to gie myself a better chance. lol! i can;'t wait for monday...it sucks to get caught with bad trades being held all the way through the weekend...
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  • #15,932
  • Jul 6, 2008 9:51am Jul 6, 2008 9:51am
Quoting Bag Lady
Hi Everyone,

Thank you so much for all your good wishes and support, it means so much to me! (for those who are wondering, I had a brain haemhorrage about 6 weeks ago).

I'm doing really well; threw away my walking stick yesterday, as I can now walk again unaided!!

Still got a bit of work to do to sort out my speech - it still sounds like I've had several pints of the landlord's finest ale, I wouldn't mind quite so much but I'm not allowed to drink alcohol at all! Oh well, it will improve, it just needs time.

I still can't spend long at a computer, and certainly not on the charts, but I can print out the charts and look at them. I am studying the four major pairs, looking back at all last year plus up to July so far this year. It's great, I'm learning loads and I think it will really help with rhythm recognition and confidence in the future. If you have the time and the inclination, I seriously recommend you do the same for your favourite pair!

Well, I feel a bit unwell again after all this typing, so I'll leave you to your studies.

Trade well, trade intelligently, and trade with confidence.

Cheery bye for now,
Rebecca,x.
Get well soon.
Phillip
  • #15,933
  • Jul 6, 2008 10:06am Jul 6, 2008 10:06am
bag lady wishing you a speedy recovery miss your posts
  • #15,934
  • Jul 6, 2008 12:41pm Jul 6, 2008 12:41pm
Quoting Phillip Nel
Info
THanks Phillip, that mp3 was extremely helpful. i'll be looking to close my longs as soon as possible on Monday (that is in terms of minimum loss or perhaps even a breakeven) the fact that the MACD shows a roundbottom and the last two candles closed somewhat like spinners as you mentioned in that mp3 suggests the price will test the trendline or perhaps even the 8/21 ema in which case conditions for a short will improve and so will my hope against the 2 bad trades...
I believe . . .
  • #15,935
  • Jul 6, 2008 2:27pm Jul 6, 2008 2:27pm
as i understand from Phillip's chart the possibillity for a quick long before TC is there , to me it looks like a good spot to enter a short position since the stop loss is very clear - right above the last candle which is also the trend line that is now resistant , in terms on medium time possition?

the only two facts that are making it qeustionable is the round bottom and that the price is realy close to the 89 ma ...

I'll be glad to hear you thoughts about that ,

Barak
  • #15,936
  • Jul 6, 2008 10:40pm Jul 6, 2008 10:40pm
Right now i can see a retracement coming to the 8 EMA or 21 Ema before continuing down, because it just went throught the 89 SMA. So except a retracement tothe 8, 21 or 89 and then take the move down.

On the 1hr it just went thought the 365EMA, so i except a retracement the the 365 EMA before moving down
  • #15,937
  • Jul 7, 2008 3:16am Jul 7, 2008 3:16am
after that drop earlier today the prie seems unstoppable, both Eu and GU have 3 Sma's and some price levels around but the price seems to be ignoring them...hmmm interesting, i am not taking any shorts or longs till i see some proper support from these SMA's maybe a short retracment and then a TC pattern on the MACD, as of now it's too dangerous, unsual emotion around......even Uj and usd/chf are displaying a similiar behavior...

what do you think Phillip?
I believe . . .
  • #15,938
  • Jul 7, 2008 4:10am Jul 7, 2008 4:10am
There is a pin bar at 200 confirmed by macd I m going long at 1.5646 , SL 1.5607, FTP +25
The more obstacles I overcome the better man I become.
  • #15,939
  • Jul 7, 2008 5:07am Jul 7, 2008 5:07am
Quoting sevejose
There is a pin bar at 200 confirmed by macd I m going long at 1.5646 , SL 1.5607, FTP +25
seems very risky to me...
I believe . . .
  • #15,940
  • Jul 7, 2008 6:34am Jul 7, 2008 6:34am
See chart with timeframe 5m for details

Price through sma(89)
Price bounced on sma(200) at level 1.5614 and tested again sma(200).
Double bottom pattern was formed on chart with timeframe 5m.
Then breakout through trendline and price moved to target ema(8).
Notice:
Price dropped to 1.5628 and rised to target 1.5670

Setup:
Target 2, ema(21) = 1.5716 (+91pips) with R:R = 1:5.35
Target 1, ema(08) = 1.5670 (+45pips) with R:R = 1:2.65
Price = 1,5625
Stoploss = 1,5608 (-17pips) under sma(200)

Target 1 ema(08) reached
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