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4 Hour Strategy (MACD)

  • #561
  • Edited Feb 14, 2007 5:30am Feb 13, 2007 7:34pm | Edited Feb 14, 2007 5:30am
if this eur/jpy red candle closes below 0 on the MACD, I am in. I'm itchy to jump in now with japanese markets working at full swing.

EDIT: EUR/JPY - short @157.93. Can't watch more - need some sleep.

stopped out - 36 pips loss. t'was mistake. I am out of this pair so far.
  • #562
  • Feb 13, 2007 9:54pm Feb 13, 2007 9:54pm
What do you guys think of the Cable? It looks like it is ready to drop.

Forming a rounded top.
Almost against daily high
Waiting for MACD confirmation to jump in.
  • #563
  • Feb 13, 2007 10:00pm Feb 13, 2007 10:00pm
Quoting alcastro
What do you guys think of the Cable? It looks like it is ready to drop.

Forming a rounded top.
Almost against daily high
Waiting for MACD confirmation to jump in.
Do you mean the EUR/USD? The Cable appears is still below the zero line...
  • #564
  • Feb 13, 2007 10:03pm Feb 13, 2007 10:03pm
4:30 am (EST) news on GBP. Is it going to be repeat of yesterday?
  • #565
  • Feb 13, 2007 10:22pm Feb 13, 2007 10:22pm
Quoting JArbuckle
I've been live for 1 week. Trading 10 mini lots per trade. Look at the results!!!!!

EUR/USD +22
USD/CHF +80
GBP/USD +72
EUR/USD +33
USD/JPY +20
GBP/USD +10
USD/CHF +17

Total Pips for 1 week = 254, 7 winning trades, 0 losers

Could have been more, and will be as I continue to refine my exit strategies. A lot of pips were left on the table, but more importantly, no losing trades. The most difficult part of the Forex market is the entry points. This system completely takes the guess work out of the entry. Study the thread, study the charts, if not comfortable, paper trade, paper trade, paper trade....... Patience is a virtue with this system. Let the trades come to you. If they are not there, leave.

Phillip......you're the man!!!!

Can you give us more info about your trades, maybe some charts, entry times and stops and exits. Anything to help us paper traders move on to the real money!
  • #566
  • Feb 13, 2007 10:31pm Feb 13, 2007 10:31pm
If the EurUsd is going to break above the T/L it will either comes bck to test it or it will come back to the 21EMA and then goes North. We are above 89SMA so the mood is bullish, The rule is that it might pull back to the 21EMA before proceeding. If round top is forming for a short the first target will be 21EMA.
Have a great trading day.
  • #567
  • Feb 13, 2007 10:36pm Feb 13, 2007 10:36pm
Quoting ~Shard~
Do you mean the EUR/USD? The Cable appears is still below the zero line...
You are right. I meant the EURO..but it is going up.
Lets wait till next candle
  • #568
  • Feb 13, 2007 10:37pm Feb 13, 2007 10:37pm
Quoting alcastro
You are right. I meant the EURO..but it is going up.
Lets wait till next candle
Agreed. I'll be watching this one...
  • #569
  • Feb 14, 2007 1:12am Feb 14, 2007 1:12am
I like!!!!!! 1.3060 Its breaking out.
  • #570
  • Feb 14, 2007 1:34am Feb 14, 2007 1:34am
anyone following Cable ?
about to cross zero line MACD
  • #571
  • Feb 14, 2007 2:07am Feb 14, 2007 2:07am
If it closes with support above the 21 sma, then I would go long the cable.

I'm in an interesting position with the EUR.USD, my original plan would tell me to sell at a 110 pip gain, however I think this is a chart break out and I feel it has another 100 pips at least to go in the next 24 hours. THerefor I'm going to keep my long position and move my stop up to 1 R (50 pip gain).
Would you trade this in a similar fashion Phillip?

by the way thanks for the pips phillip :-)
  • #572
  • Feb 14, 2007 2:40am Feb 14, 2007 2:40am
Way to go, Turk87!

Entered my first trade using Phillip's system: Long cable at 1.9513 Profit target is the 200 (1.9590). Having a bit of difficulty w/the stop. Placed it at 1.9442 (below support line). But think I should move it closer to the 21...any thoughts? Plan to move to BE at 1.9554

Hope UK Claimmant count surprises w/better than expected number! Lots of event risks...of all nights to try a new system

Also, if Eur/USD can knock out the exotic option barrier at 1.3100 it should run to 1.3300 pretty easily (my opinion).

Thanks for all your work on teaching this system to us, Philip!
  • #573
  • Feb 14, 2007 5:39am Feb 14, 2007 5:39am
congrats to all cable and euro longs. I hope you enjoyed this move. I am up with my original 2 lots on cable and closing 1 now.

+ 180 pips to my MACD basket.
  • #574
  • Feb 14, 2007 5:46am Feb 14, 2007 5:46am
I made some pips on the euro last night (I am in the EST zone). Could have done more but set a limit order at 1.3080 and went to sleep. Woke up this morning with this nice surprise.

I am not jumping into cable since it is already in the move.

An idea: what if every 15 min before the 4hr candle close we post our analysis about how we expect to trade the next candle? the conclusions of his analysis would be pretty obvious:
-go long
-go short
-stay out
-stay long
-stay short

Of course the most important analysis would be Phillip's.

On my end I would only be able to post m analysis at 9:45 PM, 1:45 AM, and 5:45 AM (15 mins before Metarader 4 hr candle close, EST).

Just a suggestion
  • #575
  • Feb 14, 2007 5:54am Feb 14, 2007 5:54am
Check out the resistance on cable at around 1.96:
- round number
- SMA89
- SMA200
- continuing trendline resistance (earlier support broken jan 09)
Let's see what happens, that is if we get there, US data will probably show more..
  • #576
  • Edited 6:16am Feb 14, 2007 6:00am | Edited 6:16am
Quoting alcastro
I made some pips on the euro last night (I am in the EST zone). Could have done more but set a limit order at 1.3080 and went to sleep. Woke up this morning with this nice surprise.

I am not jumping into cable since it is already in the move.

An idea: what if every 15 min before the 4hr candle close we post our analysis about how we expect to trade the next candle? the conclusions of his analysis would be pretty obvious:
-go long
-go short
-stay out
-stay long
-stay short

Of course the most important analysis would be Phillip's.

On my end I would only be able to post m analysis at 9:45 PM, 1:45 AM, and 5:45 AM (15 mins before Metarader 4 hr candle close, EST).

Just a suggestion
So great idea

any one see thats good now to go long on usd/cad
or wait for news ?


could any one give me his opinion plz >>>>
If you count on hope in any trade ……. Get out of it
  • #577
  • Feb 14, 2007 6:25am Feb 14, 2007 6:25am
i've been reading through this wonderful system and dialogs the last couple of weeks and found very much interest in it, beeing a newbee..
First i must congratulate the developer and followers 4 their efforts to share their knowledge with others.
And if i may, i saw this question asked and couldn't find if and when it was answered, so please tell -
how do u make an EMA macd trigger line , while mt4 only offers SMA (mine as previos asker, by interbank).
it seems as though the idea works also with the SMA, but still my charts look a bit different, and i am sure that there is a lot of thought and knowledge behind this specific choice of oscilator.

tnks

Illy
  • #578
  • Feb 14, 2007 7:00am Feb 14, 2007 7:00am
Quoting alcastro
I made some pips on the euro last night (I am in the EST zone). Could have done more but set a limit order at 1.3080 and went to sleep. Woke up this morning with this nice surprise.

I am not jumping into cable since it is already in the move.

An idea: what if every 15 min before the 4hr candle close we post our analysis about how we expect to trade the next candle? the conclusions of his analysis would be pretty obvious:
-go long
-go short
-stay out
-stay long
-stay short

Of course the most important analysis would be Phillip's.

On my end I would only be able to post m analysis at 9:45 PM, 1:45 AM, and 5:45 AM (15 mins before Metarader 4 hr candle close, EST).

Just a suggestion
Its a good idea it will be usefool for beginners like me
Robert
  • #579
  • Feb 14, 2007 7:06am Feb 14, 2007 7:06am
Quoting Phillip Nel
Here are my chart.

Look at the tail 4 candles back. Only the 89SMA had to be overcome to continue the up move.
Hi Phillip, thanks for posting your chart. I don't know if you noticed, but I see a flaw with my chart. After the "tail" candle on my chart(post #520), I only had three 4hr candles before price skyrocketted upwards. Now if you look at your chart(post #523), you have four 4hr candles after your "tail" candle to go with your perfect round bottom. However, my chart didn't form that perfect round bottom, but instead MACD formed a straight line up.

I'm assuming my candles close at different times than yours so it's it's giving me different entry signals. Is there anything I can do to fix this? I've had quite a bit of losing trades lately and losing my confidence...but I think I have just figured out it's because of my charts. Any help would be appreciated. From anyone. Thanks!
  • #580
  • Edited 7:07am Feb 14, 2007 7:07am | Edited 7:07am
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