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4 Hour Strategy (MACD)

  • #16,421
  • Jul 30, 2008 5:01am Jul 30, 2008 5:01am
Quoting atayawa
Hi guyz, how can I calculate my SL and how should I know where to TP..Thanks
These things are quite/very subjective. I would say that they may make difference between a beginner and a profi or a good trader and an excellent one .

Usually you'll be told that you should find your own way with SL's and TP's. And, in fact, that will really happen sometimes, if you don't quit before. But if you want to read/listen to Phillip's comments on these topics, you may look here: SL's | TP's. In his numerous wrapups he also usually mentions where and why was SL or TP placed. Hope this helps.
  • #16,422
  • Edited 7:43am Jul 30, 2008 6:25am | Edited 7:43am
I entered long in the EURUSD to the 21 EMA but it seems to be stuck on the TL and my 1TP (8EMA) was not reach by 2pips ... , would you set a timeout stoploss or wait ? All the signals seem still there (RB on MACD4h, TC on 1h, And green candles on 1H & 4h), the only problem is that pinbar to the 8EMA on 4h which could be bearish ... and this is a CT trade ...
Edit: I've been stopped
  • #16,423
  • Jul 30, 2008 11:53am Jul 30, 2008 11:53am
Quoting bshadroo
im not sure,this is a weekly trend and we need a weekly close below it to say it is broken .we should be very carefull to sell eu in this area as i told yesterday
Very risky to sell at a weekly support line.
  • #16,424
  • Jul 30, 2008 11:56am Jul 30, 2008 11:56am
Quoting Yorik
By the way, one my small experience: when price was comparatively slow and then at the closing of the (signal) bar it shows a quick move (sometimes bar is then closed without a shadow in the direction of the move), the next bar either makes a retracement, or this setup appears to be false.

As I'm entering usually during 2 last minutes of the signal bar (:58..:00), for several times already I was entering on that fastening, and then price retraced (and several times I even managed to catch the very bottom while selling or vice versa
When price jumps to a certain level just before candle close especially if there is strong supp/res it could mean that orders were filled in the opposite direction. But be carefull it might be, it is not allways true. I havent done a study on it to give any % of accuracy.
  • #16,425
  • Jul 30, 2008 2:26pm Jul 30, 2008 2:26pm
Quoting Phillip Nel
Very risky to sell at a weekly support line.
dear phillip or others which can help me:
21,8 ema and 200,89 sma are very significant to me and they help me alot in trading H4macd system and i know the purpose of them ,but the purpose of 365ema is not clear to me ,even i see the price moves easily up and down of 365ema and usually there is no support or resistance on it.
can i ask how 365ema helps u in trading?
thx in advance
  • #16,426
  • Jul 30, 2008 2:27pm Jul 30, 2008 2:27pm
Quoting Phillip Nel
Very risky to sell at a weekly support line.
The EURUSD found support on the 4H TL and Weekly TL, then pulled back several times to the 8EMA and seems stuck between those TL and 8EMA.
I'm waiting to see if it will break the TL or the EMA to enter short or long which would be the more risky if it happens ? The break of TL seems more risky but the break of the EMA is Counter Trend ...
  • #16,427
  • Jul 30, 2008 7:46pm Jul 30, 2008 7:46pm
Quoting bshadroo
dear phillip or others which can help me:
21,8 ema and 200,89 sma are very significant to me and they help me alot in trading H4macd system and i know the purpose of them ,but the purpose of 365ema is not clear to me ,even i see the price moves easily up and down of 365ema and usually there is no support or resistance on it.
can i ask how 365ema helps u in trading?
thx in advance
Hi,
I guess I heard something about that in yesterday wrap up.Did you listen to it?

regards
Mike
Failure, is a wonderful teacher!
  • #16,428
  • Jul 30, 2008 7:52pm Jul 30, 2008 7:52pm
Here, I found it for you:


......
then you will see there was a breakout down below that support line, and, when it came past the 200 sma, the chance was always there that it was going to go, at least, to the 365. Now, the 365, the role it plays is when the market breaks out, and there's no other moving averages close by. It normally goes to that........

Regards
Mike
Failure, is a wonderful teacher!
  • #16,429
  • Jul 31, 2008 2:43am Jul 31, 2008 2:43am
Too late this morning for setup EUR/USD 31/07/2008
Price below ema(55) and sma(89)
Countertrade (High risk)
Price went through ema(8) to ema(21)
Potential profit was around 40 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd4h31072008-01a.jpg Size: 265 KB
  • #16,430
  • Edited 4:35am Jul 31, 2008 4:01am | Edited 4:35am
Quoting eTrader
Too late this morning for setup EUR/USD 31/07/2008
Price below ema(55) and sma(89)
Countertrade (High risk)
Price went through ema(8) to ema(21)
Potential profit was around 40 pips
Too late indeed, I made this CT trade yesterday but my S/L was reached
Looks like to find resistance on ema21 (1h), if the 1h macd gives a short signal, I think it could be a high probability trade in the trend, don't you ? Or maybe do we have to wait for the 4h signal ?
Edit1: MACD 1h gave a RT & the 2 previous candle are bearish with a nice pin bar ...
  • #16,431
  • Edited 4:24am Jul 31, 2008 4:02am | Edited 4:24am
Quoting eTrader
Too late this morning for setup EUR/USD 31/07/2008
Price below ema(55) and sma(89)
Countertrade (High risk)
Price went through ema(8) to ema(21)
Potential profit was around 40 pips
I entered yesterday @1,5580, 50% closed +53pip, SL moved to 1,5600 price level.

edit : SL hit - (53 + 20)/2 = 36.5 pips
  • #16,432
  • Jul 31, 2008 4:36am Jul 31, 2008 4:36am
Quoting Phillip Nel
If you want to paricipate in a chat around the 4 Hour MACD Strategy
Go to www.skype.com and install skype and then click the link below to get access to the chat.

You can only benefit from the discussions and if not satisfied you can leave the chat when ever you want or ask the host to remove you.

I hope that the chats will only be positive. Bad stuff wont be allowed on the chat.

Everything on this chat must be treated as opinions of different people and any actions according to something published on this chat must only be done after thorough investigation.

The host which is me will have full rights to stop this chat whenever he feels it is no longer of any use or when the majority feels it nescessary to do so

LINK:

http://ui.skype.com/ui/0/3.1.0.144/e...T7Gp_-AjQF23tQ
Hi Phillip,
Is this still working ? I tried to connect yesterday, but with no success.
Thanks
  • #16,433
  • Jul 31, 2008 7:03am Jul 31, 2008 7:03am
Who is short on EURUSD ?
  • #16,434
  • Edited 7:55am Jul 31, 2008 7:06am | Edited 7:55am
Quoting djmanu
Who is short on EURUSD ?

I am from 1.5613

edit. SL hit
  • #16,435
  • Jul 31, 2008 8:07am Jul 31, 2008 8:07am
Quoting Borism
I am from 1.5613

edit. SL hit
Where was you SL? I reversed when price jumped up... only - 5 pips
  • #16,436
  • Jul 31, 2008 8:17am Jul 31, 2008 8:17am
Quoting Borism
I am from 1.5613

edit. SL hit
SL hit as well, I was out, unexpected up movement through 21EMA, 365EMA ... the signal was not there on MACD4h but on 1h, next time I'll wait for both ...
  • #16,437
  • Jul 31, 2008 8:41am Jul 31, 2008 8:41am
Quoting djmanu
SL hit as well, I was out, unexpected up movement through 21EMA, 365EMA ... the signal was not there on MACD4h but on 1h, next time I'll wait for both ...
....the movement was because of news. You couldnt see it on the charts. We should not trade during news-time. Or take the spike from the news - but this is gambling...
regards, Michael
  • #16,438
  • Jul 31, 2008 8:43am Jul 31, 2008 8:43am
Quoting manto
....the movement was because of news. You couldnt see it on the charts. We should not trade during news-time. Or take the spike from the news - but this is gambling...
regards, Michael
I mean gambling in this method.
  • #16,439
  • Edited 11:36pm Jul 31, 2008 9:12am | Edited 11:36pm
Sell JPYUSD 107.88
TP1 107.68
SL 108.40

Reason: Broke Trendline. Bearish engulfing candle with TC on MACD.
Note: the RR Ratio is bad, but this is a very high probability trade because there were two major selloffs below the SL.

Edit: 1st TP hit. Let's see if it'll continue downward.
  • #16,440
  • Jul 31, 2008 9:16am Jul 31, 2008 9:16am
Quoting Hookem28
Sell JPYUSD 107.88
TP1 107.68
SL 107.40

??????
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