4 Hour Strategy (MACD) | Page 862 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

4 hour strategy (the nausbot - 4 hour trader) 25 replies

4 Hour Strategy Macd+other Indicator 21 replies

X-1102 1 hour , 4 hour and daily Tf trades 7 replies

Create a verticle line at certain hour for every certain hour 16 replies

Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies

Attachments: 4 Hour Strategy (MACD)
Exit Attachments

4 Hour Strategy (MACD)

  • #17,221
  • Sep 30, 2008 3:22am Sep 30, 2008 3:22am
Is anyone looking at maybe an early entry on the USDGBP on the 1H with pricing finding resistance at the 8EMA & 50% retracement fib from the up channel?
  • #17,222
  • Sep 30, 2008 4:21am Sep 30, 2008 4:21am
Enjoy this cartoon on fundamentals explaining the crisis in the U.S. banking sector!
Attached File(s)
File Type: zip Presentation.zip   1.7 MB | 1,036 downloads
  • #17,223
  • Sep 30, 2008 4:53am Sep 30, 2008 4:53am
E/U is forming a TC on my 4h which is about to close (9 mins away). This comes off the 8 and a previous spike to the 21 and 200. The problem is there is a 4H trend line which it looks like it will break but only just and support at 4300 which gave too big spikes last time it was hit.
  • #17,224
  • Sep 30, 2008 5:03am Sep 30, 2008 5:03am
Quoting brettboz
E/U is forming a TC on my 4h which is about to close (9 mins away). This comes off the 8 and a previous spike to the 21 and 200. The problem is there is a 4H trend line which it looks like it will break but only just and support at 4300 which gave too big spikes last time it was hit.
TC formed and trend line broken but risk large. Could get a pullback but 4300 didnt get broken, I think this is risky without the 4300 level having being taken out. No entry or order for me for the moment.
  • #17,225
  • Sep 30, 2008 6:23am Sep 30, 2008 6:23am
Quoting brettboz
TC formed and trend line broken but risk large. Could get a pullback but 4300 didnt get broken, I think this is risky without the 4300 level having being taken out. No entry or order for me for the moment.
Well 4300 did break and we also had the pullback to the 4H trendline breakout before price moved down. I think this would have been a nice signal had it not been for the 4300 level remaining unbroken on the previous close.
  • #17,226
  • Sep 30, 2008 6:39am Sep 30, 2008 6:39am
wait for get down again about 1.4169 , soon it will go up ,
if , down pass 1.4169 as a result , down
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 25.gif Size: 46 KB
Click to Enlarge Name: 23.gif Size: 41 KB
{Promotion Removed}
  • #17,227
  • Sep 30, 2008 7:03am Sep 30, 2008 7:03am
I took the TC signal on the EU. With the market as bearish as it is and the bail out plan still on the table, bearish signals will be stronger. Current trade up by 37 pips.

Attached Image
  • #17,228
  • Sep 30, 2008 7:05am Sep 30, 2008 7:05am
Quoting MAD
I took the TC signal on the EU. With the market as bearish as it is and the bail out plan still on the table, bearish signals will be stronger. Current trade up by 37 pips.

Attachment
Looks like yours closed an hour later than mine as it had already passed the 4300 level, I would have taken it under those conditions I think providing the risk / reward was correct. Mine was held back by 6 pips from the break on candle close.
  • #17,229
  • Edited Oct 1, 2008 9:43am Sep 30, 2008 10:11am | Edited Oct 1, 2008 9:43am
Some comment I made yesterday.
The high risk was not so much in the setup but in the stoploss. The setup was good but the stoploss huge. The tail it was busy forming at that point (on the 4H) was my reason for interest. The gapdown this morning and the fact that it was not filled made me prepare for a further downmove. I was waiting for a setup based on rhythm to enter and this was an oppertunity.

The downmove came today with nice rhythm

Hope you people got involve in this trade. Double resistance on 200sma and 89sma with tweezer tops.
Entry 1.8011
SL 1.8100(split in 2 positions of 41 and 50)
TP because of the strength of the rhythm I left both positions open to let it run.

Edit 1
1.7900 reached. Set stoploss at 1.7950

Edit 2
1.7800 reached. Set stoploss at 1.7900 just above 8ema.

Edit 3
At close of 18:00 1H candle. Set SL 1.7864

Edit 4
I closed the trade just above the 161,8 Fib level for +333pips. Just see how true the 161,8 fib is when there is no clear support.
My biggest gain ever on a single trade
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 30 KB
  • #17,230
  • Sep 30, 2008 10:56am Sep 30, 2008 10:56am
No MACD confirmation though
  • #17,231
  • Sep 30, 2008 11:13am Sep 30, 2008 11:13am
Info
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 30 KB
Attached File(s)
File Type: zip Daily Wrapup 30Sept2008.zip   826 KB | 1,079 downloads
  • #17,232
  • Sep 30, 2008 12:14pm Sep 30, 2008 12:14pm
Quoting Phillip Nel
Info
Hey Phillip,

Great trade - just as you were predicting yesterday. Thanks for the MP3 explaining the trade.

Missed it myself as I had to work for a living today. Not sure I would have seen the trade as you did anyway as I am still honing my skills with this method.

However, just wanted to make one other observation about the MACD confirmation which was absent. There was another way to get in to this trade by using Palmer's 1 hour confirmation using the ADX indicator. This showed a distinct crossover just after that large bearish candle was being formed. That would have given some extra comfort for entry. So it's worth checking this 1 hour entry system that Palmer has put together, I think.
James The Beekeeper
  • #17,233
  • Sep 30, 2008 12:34pm Sep 30, 2008 12:34pm
Quoting edeyj999
Hey Phillip,

Great trade - just as you were predicting yesterday. Thanks for the MP3 explaining the trade.

Missed it myself as I had to work for a living today. Not sure I would have seen the trade as you did anyway as I am still honing my skills with this method.

However, just wanted to make one other observation about the MACD confirmation which was absent. There was another way to get in to this trade by using Palmer's 1 hour confirmation using the ADX indicator. This showed a distinct crossover just after that large bearish candle was being formed. That would have given some extra comfort for entry. So it's worth checking this 1 hour entry system that Palmer has put together, I think.
Just to add confirmation of the rhythm and give a specific place to entry.
  • #17,234
  • Sep 30, 2008 2:35pm Sep 30, 2008 2:35pm
Quoting Phillip Nel
Info
Phillip, great trade on G/U today - can never quite figure out how you decide whether you think its safe enough to place your SL well within the candle body, but you're almost always right

I have a bit of a hypothetical question for you. Have attached a chart of E/U situation. The 2 tails to the topside show strong downpressure. IF the huge circled bear candle was instead, a reasonably sized bull candle with the 89SMA providing support, would you consider entering a long position (again, assuming R:R ok) or would the 2 previous tails tell you to stay out of all long trades completely? In my case, I had a potential long scenario (also had short scenario) with 2 trendlines providing potential support where price could move north. However, maybe I should have crossed out all long scenarios completely, regardless of how 'nice' a bull signal candle or MACD RB formed. Long scenarios could have been reconsidered once price moved out of the area completely and away from those tails??
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.gif Size: 40 KB
  • #17,235
  • Sep 30, 2008 4:33pm Sep 30, 2008 4:33pm
Nice 'work' once again Phillip. I was wrapped up in meetings all day today. Should have more chart time for the next few weeks...
  • #17,236
  • Sep 30, 2008 5:38pm Sep 30, 2008 5:38pm
do 1hr charts have any part in this trading system? Usually smaller time frame charts are used to help aid in entry/exit, so i was just wondering.
  • #17,237
  • Sep 30, 2008 7:03pm Sep 30, 2008 7:03pm
Quoting Phillip Nel
Info
That was a brilliant trade! Thank you for sharing your insights, again.
  • #17,238
  • Sep 30, 2008 10:39pm Sep 30, 2008 10:39pm
Once again there is something new and interesting to learn from ol' Phil.

Here is a transcipt for his 'Daily Wrap Up 30 Sept" MP3.

Cheers!
Attached File(s)
File Type: txt Daily Warp Up 30 Sept.txt   5 KB | 433 downloads
In Pursuit of Pippyness...
  • #17,239
  • Sep 30, 2008 11:51pm Sep 30, 2008 11:51pm
[quote=Phillip Nel;2251151]Some comment I made yesterday.
The high risk was not so much in the setup but in the stoploss. The setup was good but the stoploss huge. The tail it was busy forming at that point (on the 4H) was my reason for interest. The gapdown this morning and the fact that it was not filled made me prepare for a further downmove. I was waiting for a setup based on rhythm to enter and this was an oppertunity.

The downmove came today with nice rhythm

Hope you people got involve in this trade. Double resistance on 200sma and 89sma with tweezer tops.

Hi Philip and all. Thanks for this great system. I am new to it. I have been learning for the past 5 weeks. Pls what charting package do you use. I use MT4 frm FXDD. The rhythm of yesterday on G/U did not show on my chat as in yours. Pls what charting package do you use or recommend.

Thanks.

Akeko
  • #17,240
  • Sep 30, 2008 11:56pm Sep 30, 2008 11:56pm
Quoting Phillip Nel
Some comment I made yesterday.
The high risk was not so much in the setup but in the stoploss. The setup was good but the stoploss huge. The tail it was busy forming at that point (on the 4H) was my reason for interest. The gapdown this morning and the fact that it was not filled made me prepare for a further downmove. I was waiting for a setup based on rhythm to enter and this was an oppertunity.

The downmove came today with nice rhythm

Hope you people got involve in this trade. Double resistance on 200sma and 89sma with tweezer tops.
Entry 1.8011
SL 1.8100(split in 2 positions of 41 and 50)
TP because of the strength of the rhythm I left both positions open to let it run.

Edit 1
1.7900 reached. Set stoploss at 1.7950

Edit 2
1.7800 reached. Set stoploss at 1.7900 just above 8ema.

Edit 3
At close of 18:00 1H candle. Set SL 1.7864
Your 4H looks different from mine (I am on GMT+2) and the trade didn't look so great on mine. On mine there was a spike off the 7990 area and without the MACD confirmation I would have been worried shorting on the last candle before the big drop. In face on mine it was a hanging man so was also signalling something funny about to happen but the previous candle to that was a bullish hammer so compltetly confusing....
6 traders viewing now