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4 Hour Strategy (MACD)

  • #16,361
  • Jul 27, 2008 5:06pm Jul 27, 2008 5:06pm
Quoting Palmer
Hey everyone...The ghost I guess you could call me lately. It's kind of like this. When work takes me out of town for several days it takes me just as long to get caught up with the flow of the markets. And yet again, I will be leaving in the middle of next week for about 10 days with no internet connection. I'll be out a sea doing research so, gone again. I have a lot of prep work to do this week so it's doubtful I'll be around here. So it looks like towards mid/late August I'll be back.

For the new faces that still show up, this is a great place to learn a solid method of trading Forex. Phillip has given us all a great method to trade and the best support that beats any paid service. I put together a website called http://www.fxtradeblog.com that has a lot of extras for the method. One of the most useful things might be the practice charts that can be printed out and you can make notes all over them. These are the 4hr and 1hr charts for 2007 for the EURUSD with the indicators and time reference on the charts to make things easier to find. Feel free to download those and print them out for study purposes. Here's that link http://www.fxtradeblog.com/tools.html#practicecharts

The website: Yes, I know that I said I would add some 1hr entries, and I promise I will. It's been a busy last several months for me, that's all I can say. I want to add Phillip's 5min method as well. This will happen, I just haven't had the TIME to do all of this. I'll get there.

I really miss everyone here and I look forward to being back here in several weeks. Trade well everyone.

Chris
Hi Palmer,
you are not only one ghost.While i am studying this thread since its creation, nowdays i miss guys like pipsuandme, dire, tamkras, chandra, alcastro ... for their trade insights.You made Phillip alone leading this thread .
Anyway, thanks for your links, I will check them this week
And yes... I absolutely agree, this is the right place for new faces to start, as i belong to them.It's not just the system but especially discipline you are being learned by following this strategy.
Thank you guys.
  • #16,362
  • Jul 27, 2008 10:23pm Jul 27, 2008 10:23pm
Quoting ssq
see the chart .why the macd on my picture,it can change color,but the horizontal lines on my macd_colored_v103,is so closed,why.can i change the parameters????let it like the top one ?anybody help me>>>
ssq, you can change the parameters manually:15,30,45.
  • #16,363
  • Jul 28, 2008 12:30am Jul 28, 2008 12:30am
Quoting ssq
see the chart .why the macd on my picture,it can change color,but the horizontal lines on my macd_colored_v103,is so closed,why.can i change the parameters????let it like the top one ?anybody help me>>>
Change the parameters manually 15,30,45 too 150,300,450
  • #16,364
  • Jul 28, 2008 12:59am Jul 28, 2008 12:59am
hi

can you please someone let me know the meaning of number that comes out
on the indicator chart colored macd..v102.

thanks so much in advance
Loving Life.............
  • #16,365
  • Jul 28, 2008 1:23am Jul 28, 2008 1:23am
i have solved the problem ,thanks alot!!!!

if i changed the horizontal line's number to 150,300,450,the line is ok.
but ,the RT ,RB.......is disapprar!!!!
now,i change other platform,the macd is ok!!!!
  • #16,366
  • Jul 28, 2008 1:24am Jul 28, 2008 1:24am
Quoting aida1960
hi

can you please someone let me know the meaning of number that comes out
on the indicator chart colored macd..v102.

thanks so much in advance
the number is the macd"s value immideatly.
  • #16,367
  • Jul 28, 2008 1:30am Jul 28, 2008 1:30am
Quoting ssq
the number is the macd"s value immideatly.
thanks. I thought it is measuring strength of particular down move or upward move
Loving Life.............
  • #16,368
  • Jul 28, 2008 1:44am Jul 28, 2008 1:44am
hi all

what does it mean when yellow bar comes out on the indicator ? saw it somewhere but just could not find it back.

thanks so much
Loving Life.............
  • #16,369
  • Jul 28, 2008 1:48am Jul 28, 2008 1:48am
Quoting arashjalali7
Change the parameters manually 15,30,45 too 150,300,450
Arashjalali,which TF does the above parameters applied to?Because it will be out of place in 4H TF to gauge OB or OS.
  • #16,370
  • Edited 4:05am Jul 28, 2008 2:20am | Edited 4:05am
a highrisk trade,plese tell me what u think about this trade.
edit:closed for +20pips,yorik,u r right
Attached Image (click to enlarge)
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  • #16,371
  • Jul 28, 2008 2:55am Jul 28, 2008 2:55am
Long CFD Trade EUR/USD 28/07/2008 at 06:35:54 Timezone GMT+2:00

Setup for the first day of this week:

Target 3 sma(89) = 1.5801
Target 2 ema(55) = 1.5770 (Potential Profit : 55 pips)
Target 1 ema(21) = 1.5722 (Potential Profit : 7 pip)
Price = 1.5715
Stop Loss (< sma(200)) = 1.5686 (-31pips)

Chart with Timeframe 4h: MACD pattern TC (Valley Point)
Chart with Timeframe 1h: MACD pattern TC (Round Valley)

The trade was manually closed at 1.5736
Chart with Timeframe 15m: MACD pattern Round Top

Profit: +21 pips

Time for dinner at 12:00 local time
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd4h28072008-01a.jpg Size: 324 KB
Click to Enlarge Name: eurusd4h28072008-01b.jpg Size: 292 KB
  • #16,372
  • Jul 28, 2008 3:03am Jul 28, 2008 3:03am
Quoting letuak
Arashjalali,which TF does the above parameters applied to?Because it will be out of place in 4H TF to gauge OB or OS.

Because in my broker (FxPro) price has 5 decimal point (for example 1.57417)
  • #16,373
  • Jul 28, 2008 3:11am Jul 28, 2008 3:11am
Quoting bshadroo
a highrisk trade,plese tell me what u think about this trade.
Hi, bshadroo.
It may work. Though I stick to a more conservative/careful strategy and in this situation: 1) will think of buying if MACD gives a HL and price - a false breakout down (consider how far SMA89 may be) (green); 2) I will think of selling if MACD gives another TC from either EMA21..SMA89 (consider support line) or breaks down the support line and retests it (unlikely today, if so) (brown).
Attached Image
  • #16,374
  • Jul 28, 2008 5:09am Jul 28, 2008 5:09am
buy long
buy eur/usd @1.5740
stop loss @1.5710
target @1.5790
r:r=50:30 ok



Attached Image (click to enlarge)
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  • #16,375
  • Jul 28, 2008 5:33am Jul 28, 2008 5:33am
my demo chart
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  • #16,376
  • Edited 8:21am Jul 28, 2008 7:06am | Edited 8:21am
Quoting Yorik
Hi, bshadroo.
It may work. Though I stick to a more conservative/careful strategy and in this situation: 1) will think of buying if MACD gives a HL and price - a false breakout down (consider how far SMA89 may be) (green); 2) I will think of selling if MACD gives another TC from either EMA21..SMA89 (consider support line) or breaks down the support line and retests it (unlikely today, if so) (brown).
now we have a sHs in macd.im waiting for some retracement to buy again
edit:bought at 9897
edit:BE after 25pips
edit:closed +27pips(a little unconfortable with this pair)
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 19 KB
  • #16,377
  • Jul 28, 2008 8:11am Jul 28, 2008 8:11am
Quoting bshadroo
a highrisk trade,plese tell me what u think about this trade.
edit:closed for +20pips,yorik,u r right
This was a high probability trade because of the supportline and the hammer candle with nice tail on 1H. The main thing was to secure some profit as soon as possible. 20pip was good. Well done. It was not according to the 4H MACD signal but well within the rules of market rhythm by takin the tail on from a support line.
  • #16,378
  • Jul 28, 2008 6:27pm Jul 28, 2008 6:27pm
now,the eur is at a position:no profit,no loss!!!!!what can i do?????quit or hold????
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 26 KB
  • #16,379
  • Jul 28, 2008 7:49pm Jul 28, 2008 7:49pm
I longed EU at 1.5715 - TP close to 89MA ~ 1.5780
Still holding the position. I'm on the same boat wondering if to hold or close.
  • #16,380
  • Jul 28, 2008 11:03pm Jul 28, 2008 11:03pm
EURUSD
Crossed EMA21 up, retested it and shows signs of a possible move up to SMA89. On Daily price is standing under EMA21 crossed downwards (EMA21 retest), so Daily is not 100% "for" upmove, though may "allow" it. There's no TC signal on 4H MACD - just higher bars. On 1H chart - many subsequent small "parallel" bars, MACD close to 0 - uncertainty.
My desicion: no MACD signal, uncertainty on 1H, Daily rhythm may be for downmove - no entry just now, for possible buy - wait for a TC or a false breakout down (higher bars on MACD + false breakout through EMA21).

GBPUSD
made a HL on chart and MACD yesterday, is at the lower border of an upwards channel on Daily, just under the upper border of a downwards channel on 4H; crossed SMA89 up and retested it with a hammer-like candle. on MACD - just higher bars, no bullish TC.
My desicion: price is moving up from SMA89 but no signal on MACD and possible resistance is close, so no entry - maybe, better wait for a breakout up and a retest of the broken border.

Any thoughts?
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