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4 Hour Strategy (MACD)

  • #16,681
  • Aug 20, 2008 2:53am Aug 20, 2008 2:53am
How can you discuss Macd patterns on the charts TF 4h ?
The macd pattern on the chart of Phillip Nel and the macd pattern on my chart is totally different (see chart)

My MACD_Histogram parameters are:
First period = 5.00
Second period = 13.00
Signal period = 9.00
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  • #16,682
  • Aug 20, 2008 3:27am Aug 20, 2008 3:27am
Is trading real tough? After a long consolidation period, and there definitely will be a huge move. I think at the the points I draw in my chart, even we don't need MACD signal to confirm it, we could according to the candle pattern and trend move to enter. If one would have enter 2 lots at my chart points and made some profit with 1 lot, left another with BE. Until next point coming, done same thing. There would hvae be a big profit. Could anyone can do such a great job?
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Plan your trades and trade your plans
  • #16,683
  • Aug 20, 2008 6:26am Aug 20, 2008 6:26am
It is always easy afterwards to say on the charts what you had to do...
You have to act now at this moment what you are going to do and you will never know what will come.

A lot of traders went long today using the rule:
"Price went above ema(21) from below, pull back to ema(21), and starting moving up...to the sma(89)"

The price went today above the ema(21) from below, pull back to ema(21), through the ema(21) to the mid BB (sma20).

On the daily chart, price is on the ema(365) and the trendline (weekly chart).

Trade well,
eTrader
  • #16,684
  • Aug 20, 2008 7:02am Aug 20, 2008 7:02am
Quoting eTrader
It is always easy afterwards to say on the charts what you had to do...
You have to act now at this moment what you are going to do and you will never know what will come.

A lot of traders went long today using the rule:
"Price went above ema(21) from below, pull back to ema(21), and starting moving up...to the sma(89)"

The price went today above the ema(21) from below, pull back to ema(21), through the ema(21) to the mid BB (sma20).

On the daily chart, price is on the ema(365) and the trendline (weekly chart).

Trade well,
eTrader
If you talk about E/U, there is no signal to go long yet, as per rule you refer to.

You can download MACD we are all using from Palmer's site.
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  • #16,685
  • Aug 20, 2008 7:04am Aug 20, 2008 7:04am
Quoting eTrader
It is always easy afterwards to say on the charts what you had to do...
You have to act now at this moment what you are going to do and you will never know what will come.
You are right, I once discussed bladerunner trade with Palmer. He creats this method on 1h chart, but the most difficult problem is when is the start of a big trend.

In my opinion. I still think that use a longer TF to trade a big trend with 4h strategy is a good way. I have tried a long time to find good opportunities from big TF and witch to 4h chart to find 4h strategy enter point. Even newbie can make profit from such big trend after long cosolidation period. Anyway, I don't give up to find a good chance to do a good bladerunner trade.

PS: you are really have a good feeling about this method, lots of people use a time but can grasp it as good as you.
Plan your trades and trade your plans
  • #16,686
  • Aug 20, 2008 7:17am Aug 20, 2008 7:17am
Just looking at a crude oil chart....

110 looks like it's the next support area and if that is broken I'm thinking the EURUSD would have another leg down. Tropical storm Fay has the potential to swing back over into the gulf of Mexico and disrupt some oil workings so that might be worth keeping an eye on. From a previous post, I'm just curious to see how much a storm has an affect on $. Either way, just keep that 110 per barrel of oil in mind.
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  • #16,687
  • Aug 20, 2008 7:37am Aug 20, 2008 7:37am
Quoting unlv_tj
Hookem...

I took the USDJPY BOZ on the MACD (it was a bearish outside bar), and I was stopped out with the tail two bars later (should have re-entered with the large tail, but I was burned and staying on the side line).

Did you pass on this trade for any reason? I know nothing is 100%, and if not for the long tail, I would have had a profit. I know that often a BOZ, with a break below the 21 EMA and a bearish outside bar make for a high probability trade.

Here is my trade (below the red arrow)...
Hi unlv_tj,

The trade you made what was the MACD pattern? I think u came in to early. The TC pattern came two bars later.

my thoughts, no intention to offend.

Cheers
  • #16,688
  • Aug 20, 2008 7:41am Aug 20, 2008 7:41am
Hi all,
Long time since I posted, silently learning lots from you all. Looking at the EU on the 4 hour I see a possible sHs forming. Price is hovering around the 8 and 21 and the 89 is way off up there out of the way. I am very tempted to trade this to see a long awaited pull back to the 89, but..... I have that niggling doubt in my mind that many banks have been forcasting 1.43 or there abouts. Long term rend lines seem to suggest it too. So I'm going to short term ride the waves for a while (gamble in other words?smiley face)

My apologies for such a crap graph. I don't know how you create such wonderful graphs. I have a zig zag which almost shows the sHs.
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  • #16,689
  • Aug 20, 2008 7:53am Aug 20, 2008 7:53am
Baggles:

The 100% retracement level is around th 4300 level (on the daily) so I'm in agreement with you there. However, oil seems to be stabilizing at its current price level and as Phillip suggested, we are at a weekly support line. I see this as a kind of tug of war right now. This was a big move down and there is always the chance of a pullback. I'm sitting on my hands right now...
  • #16,690
  • Edited 9:56am Aug 20, 2008 8:06am | Edited 9:56am
my eu trade after H1 confirmation:
edit:see ur post palmer and agree with u ,not a very good areas around here to sell ,but i think it can give me 30pips
edit: stoped out -20pips
edit:ok i reversed my position to long after H4 TC signal .bought at 4738 sl @ 4720
edit:closed +18 befor oil news
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  • #16,691
  • Aug 20, 2008 8:21am Aug 20, 2008 8:21am
i am buying as well
lol
  • #16,692
  • Aug 20, 2008 8:39am Aug 20, 2008 8:39am
Quoting Palmer
Just looking at a crude oil chart....

110 looks like it's the next support area and if that is broken I'm thinking the EURUSD would have another leg down. Tropical storm Fay has the potential to swing back over into the gulf of Mexico and disrupt some oil workings so that might be worth keeping an eye on. From a previous post, I'm just curious to see how much a storm has an affect on $. Either way, just keep that 110 per barrel of oil in mind.
Palmer,
Have you read Wiley's Intermarket Technical Analysis: Trading Strategies for the Global Stock, Bond, Commodity and Currency Markets?
It talks about how different markets impact eachother, and warning signs for a changing market. It's an oldie, but a goodie.
  • #16,693
  • Aug 20, 2008 9:08am Aug 20, 2008 9:08am
Yes. Palmer I'm waiting this one out too, for today. I'd like to stay awake for a good pullback before going long. But time to call it a night. Rather be out of a trade than in a bad one, and right now, I need to gain a little more feel for the rhythm.
Good pips everyone.
  • #16,694
  • Aug 20, 2008 11:21am Aug 20, 2008 11:21am
Quoting ira
If you talk about E/U, there is no signal to go long yet, as per rule you refer to.

You can download MACD we are all using from Palmer's site.
Good evening Ira,

The platform of my broker does not permit to use Metatrader4.
Anyhow the MACD and MACD histogram formula stays the same for Metatrader4 and for the platform of my broker.
  • #16,695
  • Edited 2:22pm Aug 20, 2008 1:12pm | Edited 2:22pm
Price went through the 21ema then pulled back to it then did not give a bullish candle so no trade for me.

I am long currently on a shortterm strategy and will treat it as a 4H trade if it goes up as we had a tripple bottom (retest support 3 times) so far on support level and a hint of a sHs.
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  • #16,696
  • Aug 20, 2008 5:19pm Aug 20, 2008 5:19pm
Hi Everybody,

This is my first post and I'd like to thank Philip for all his efforts.
I have a question. My charts dont look like Philips. For example my MAs are slightly different and my candelsticks too. Does it matter? If so, how can I change it?
  • #16,697
  • Aug 20, 2008 5:46pm Aug 20, 2008 5:46pm
Check out the tails on the Pound Daily chart. The down move went to the .618 Fib on the weekly chart. The Pound found support three times at 1.8534. I'm anticipating a correction before the trend continues.
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  • #16,698
  • Aug 20, 2008 6:26pm Aug 20, 2008 6:26pm
Quoting PhilinGood
Hi Everybody,

This is my first post and I'd like to thank Philip for all his efforts.
I have a question. My charts dont look like Philips. For example my MAs are slightly different and my candelsticks too. Does it matter? If so, how can I change it?

Hi PhilinGood,

Welcome to the thread. Maybe you could post your charts so that we can make some comments and give you some feedback.
  • #16,699
  • Aug 20, 2008 11:33pm Aug 20, 2008 11:33pm
Quoting eTrader
Good evening Ira,

The platform of my broker does not permit to use Metatrader4.
Anyhow the MACD and MACD histogram formula stays the same for Metatrader4 and for the platform of my broker.
OK, I must have misunderstood your question about discussing MACD patterns.
  • #16,700
  • Aug 20, 2008 11:39pm Aug 20, 2008 11:39pm
Quoting PhilinGood
Hi Everybody,

This is my first post and I'd like to thank Philip for all his efforts.
I have a question. My charts dont look like Philips. For example my MAs are slightly different and my candelsticks too. Does it matter? If so, how can I change it?
Hi, welcome to the thread!
The main reason may be - different broker's time on your platform. Personally, I think that it doesn't matter much, if you follow your charts and strategy you can make pips (yes, sometimes there will be different signals, but that doesn't matter in the long run). But, we all here try to stick to the Phillip's charts for the sake of clearity, so you can download MIG and have the same charts.
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