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4 Hour Strategy (MACD)

  • #16,281
  • Jul 23, 2008 2:20am Jul 23, 2008 2:20am
Quoting aida1960
I read many posts and thread on few forums.

Used to know someone who has the same attitude as yours. He used to train 4 MBA's guys, 25 degree holders and 2 just finished high school. And you know what, that came out top in term of trading was the high school kid- being eager learner, discipline, humble and faithful so the master gave him all.

Open up mind to success, then success will greet you halfway. Decide why you trade and what you want to achieve as a trader. Go for the best if thats your decision. Most traders have directly opposite attitude towards trading and market. They "thought" they want to be successful but their attitude is 360 degrees turn- thats being arrogant, egoistic and these traders will never achieve success in their life. Be humble always.
Morelands, you have the right attitude to be successful for answering to so-called "stupid question". There is no stupid question actually. To you at least in your eyes humans are equal.

How s your trading success in so far? Cheers
I'm improving every month. Once I get consistantly profitable, I'll go live but not until then. I've been trading Phillip's 4 hr since Feb and his 5 min for 1 month. So I'm still a little new. However, because of this thread and the people involved, I think I have a really good chance of doing well. Stick around and don't give up
Raymond
  • #16,282
  • Jul 23, 2008 2:22am Jul 23, 2008 2:22am
Quoting Seepiprun
All systems check
Flightbook...check
altimeter...check
Wings (TC down)....check
landing gear (stop loss)... check

all system go!

There a TC down on daily of gbp/usd and and Eur/USD.
4hour is looking good,
Just waiting for TC down on 1 hr and 30 mins
http://www.forexfactory.com/images/icons/icon14.gif
  • #16,283
  • Jul 23, 2008 2:32am Jul 23, 2008 2:32am
TC Down on 1hr ... what's the TP ?
  • #16,284
  • Jul 23, 2008 2:39am Jul 23, 2008 2:39am
Short EUR/USD Trade 23/07/2008

Setup for this morning:

Stop loss = 1.5805 (49 pips above price)
Price = 1.5756
Target1 sma(200) = 1.5665 (64 pips profit)
Target2 ema(365)
Reward/Risk = 1.30
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd4h23072008-01.jpg Size: 767 KB
  • #16,285
  • Edited 6:47am Jul 23, 2008 2:52am | Edited 6:47am
Short on EURUSD @ 1.5761, SL=1.5815, TP=SMA200=1.5689, RR=1.44
Edit1: Trailing stop (+30pips)
Edit2: Stopped @ 1.5755 Profit = 3 pips
  • #16,286
  • Jul 23, 2008 7:31am Jul 23, 2008 7:31am
maybe price goes in a correction cycle (way #2),we are near the and of H4 channel and should becarefull about going short
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 26 KB
  • #16,287
  • Jul 23, 2008 7:40am Jul 23, 2008 7:40am
Hi, Thanks for all you contribution here.
I just created a Indicator that will draw TL based on H4, D1, W1 and Month.
Hope this will help you.


Keep going until success in trading.
Attached File(s)
File Type: mq4 Trendline3.mq4   10 KB | 826 downloads
File Type: ex4 Trendline3.ex4   11 KB | 636 downloads
  • #16,288
  • Jul 23, 2008 8:00am Jul 23, 2008 8:00am
what do you say about this chanel as a possible long?
Attached Image (click to enlarge)
Click to Enlarge Name: 4400.gif Size: 25 KB
  • #16,289
  • Jul 23, 2008 8:18am Jul 23, 2008 8:18am
Quoting Barak's pip
what do you say about this chanel as a possible long?
I just saw it as well, I think I have to wait for the next 4hr candle close to possibly enter long (maybe a RB ...) ...
I don't like the fact that on 1hr it seems to have found resistance on 8EMA in a downtrend ... what do you think of it ?
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 35 KB
  • #16,290
  • Jul 23, 2008 8:31am Jul 23, 2008 8:31am
Quoting djmanu
I just saw it as well, I think I have to wait for the next 4hr candle close to possibly enter long (maybe a RB ...) ...
I don't like the fact that on 1hr it seems to have found resistance on 8EMA in a downtrend ... what do you think of it ?
...look at the higher lows at MACD (1h) vs the lower lows at the Chart...seems really more long than short, think we need an hourly close above 1.5760 for a decision.
manto
Attached Image (click to enlarge)
Click to Enlarge Name: eu_23.07.08.gif Size: 59 KB
  • #16,291
  • Jul 23, 2008 10:15am Jul 23, 2008 10:15am
See also post #16284

Short EUR/USD Trade 23/07/2008

Setup this morning was as follows:

Stop loss = 1.5805 (49 pips above price)
Price = 1.5756
Target1 sma(200) = 1.5692 (64 pips profit)
Target2 ema(365) = 1.5665 (91 pips profit)
Reward/Risk = 1.30

Price reached the sma(200) at 1.5688 !
Limit buy order was triggered !
Profit = 64 pips !!!

We watched only the Chart with timeframe 4h and let the trade run the whole day long.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd4h23072008-02.jpg Size: 347 KB
Click to Enlarge Name: eurusd4h23072008-03.jpg Size: 393 KB
  • #16,292
  • Jul 23, 2008 10:38am Jul 23, 2008 10:38am
Price pulled back to the 89sma and the 1H gave a nice breakout to the short side with some nice lower high 1H candles

We have discussed pullbacks after some major breakouts and how to look at 1H for entries.

Entry 1.5757
SL 1.5789
TP at 200sma

Will close 50% after 25pips gain and set remainder on 25trailing stop.

Edit 1
Closed 50% after 25pips and set remainder on 25trailing stop.

Edit 2
Remainder closed by trailstop for 17

Total gain (25+17)/2= 21pips
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 25 KB
  • #16,293
  • Jul 23, 2008 11:54am Jul 23, 2008 11:54am
Nice trade Phillip. The move move was during night time here. I did enter using 5minute @1.5735 since the anticipation was down to 200 sma so still some pips to be made, But the move up on the 1200 candle ( gmt+2) was pretty quick so i decided to close with +1 pip .. Price did go down to the 200 sma. hopefully it will not get stuck in a range AGAIN!!!!
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #16,294
  • Jul 23, 2008 12:39pm Jul 23, 2008 12:39pm
Nice trade, I was also in but my 35 trailing stop was triggered on the green pin bar, result: +6pips.
I would have reach my TP (SMA200) with a larger trailing stop
Nice patern for a RB tomorrow
  • #16,295
  • Jul 23, 2008 1:49pm Jul 23, 2008 1:49pm
Quoting djmanu
Nice trade, I was also in but my 35 trailing stop was triggered on the green pin bar, result: +6pips.
I would have reach my TP (SMA200) with a larger trailing stop
Nice patern for a RB tomorrow
Yes, that pinbar took my trailstop as well for 17pips.
  • #16,296
  • Jul 23, 2008 3:38pm Jul 23, 2008 3:38pm
When you are looking at the 4 hour time frame. How does the MACD affect you if you see a different signal in a longer timeframe like the daily? So a trend continuation (Possible move up) on the 4 hour while a Break down below zero on the daily? I am fairly new to this so point me at a post if this has already been answered.
Also is there a reason why you use version 103 of the MACD vs 105?
  • #16,297
  • Jul 23, 2008 4:30pm Jul 23, 2008 4:30pm
Quoting atayawa
Hi guyz, i know this a kind of stupid question but here it goes. How can i setup MACD to my meta4 platform. Can anyone guide me plss. I'm still new at forex. Thanks
hi atayawa,
download attached ex4 file to experts/indicator directory then drag&drop to your chart.It will set up MACD automaticaly for you.
Attached File(s)
File Type: ex4 MACD_H4_300_v100.ex4   4 KB | 678 downloads
  • #16,298
  • Edited Jul 24, 2008 2:47am Jul 23, 2008 4:44pm | Edited Jul 24, 2008 2:47am
hi,
I short GU this night at GMT 20:00.Thing is, MACD show no enter signal, but I like candlestick formation (doji evening star) and resistance trendline.Actually, I was waiting for this setup, but MACD did not support it... What do you think ? Is something wrong on this trade ?

setup:
entry : 1.9985
SL : 2.0033
TP1 : 1.9934
final TP2 is above multi support price line 1.9900 (see chart)

Edit1
profit target 1 reached +51 pips, next TP 1.9911
Attached Image (click to enlarge)
Click to Enlarge Name: usdgbpcp.gif Size: 26 KB
  • #16,299
  • Jul 23, 2008 5:12pm Jul 23, 2008 5:12pm
Quoting tallkid
When you are looking at the 4 hour time frame. How does the MACD affect you if you see a different signal in a longer timeframe like the daily? So a trend continuation (Possible move up) on the 4 hour while a Break down below zero on the daily? I am fairly new to this so point me at a post if this has already been answered.
Also is there a reason why you use version 103 of the MACD vs 105?
I wanted to ask the same question, for the short EURUSD trade of this morning, the 4h MACD didn't show any signal when we entered but the 1h did.
  • #16,300
  • Jul 23, 2008 7:53pm Jul 23, 2008 7:53pm
Quoting kim
Hi, Thanks for all you contribution here.
I just created a Indicator that will draw TL based on H4, D1, W1 and Month.
Hope this will help you.


Keep going until success in trading.
Hi Kim,

How nice of you,I'm going to try that.

Thanks

Pete
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