4 Hour Strategy (MACD) | Page 864 | 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)

  • #17,261
  • Oct 1, 2008 1:43pm Oct 1, 2008 1:43pm
Just some setups around the 89 and 200sma moving averages when price goes through and pulled back before confirming the breakthrough. You can use it with trendline breaktroughs exactly the same way.
Attached File(s)
File Type: pdf Breakout_Pullback around 89 and 200 Sma.pdf   316 KB | 1,523 downloads
  • #17,262
  • Oct 1, 2008 1:46pm Oct 1, 2008 1:46pm
Quoting Palmer
Hookem:

I've been watching the Yen, as usual, but haven't traded the pair in a while. Even though the daily trend is down there have been lot's of closes above/below the 21 on the 4hr. It just looks like a difficult pair lately....just thinking out loud here.
Hey Palmer.
The Daily is definitely messy. The 4 Hour has been tradeable though.
You definitely have to adjust your strategy to the rhythm of the market though because the MAs have been meaningless lately.
  • #17,263
  • Edited 11:28pm Oct 1, 2008 2:14pm | Edited 11:28pm
Entry 1.7743
SL 1.7783
TP as per candle patterns as we might be in a pullback phase on 4H.


Edit 1
Closed 50% for +15pips. Set remainder on -15pips for a BE at worst.

Edit 2
Lets see if the 1.7700 level holds or not.
1.7700 Tested for the second time. This is crutial. If it does not break it we may see some movement upwards I think.

Edit 3
Closed at 1.7678
Total profit (15+65) = 40
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 26 KB
Attached File(s)
File Type: zip GbpUsd Trade.zip   367 KB | 978 downloads
  • #17,264
  • Oct 1, 2008 3:17pm Oct 1, 2008 3:17pm
Phillip...u r a master
  • #17,265
  • Oct 1, 2008 5:00pm Oct 1, 2008 5:00pm
Quoting ekling
No MACD confirmation though
As to MACD confirmation, I just want to say something. According to my experience, candle pattern alwasy is more senssitivity than MACD, good candle pattern with good rhythm = great trade.

What a pity I am at hometown with my relations at that time because this is China's national holidays this week. But Phillip's great trade enhance my confidence about this system again!
Plan your trades and trade your plans
  • #17,266
  • Oct 1, 2008 5:03pm Oct 1, 2008 5:03pm
Quoting Deja
I agree with you brettboz 100%. For some time now I've been observing huge differences in candles. I am with FXDD (which despite conflicting reports, they confirmed they ARE GMT +2), yet the candles are so different. The 'supposed' tweezer tops are missing, and candles do stop short of reaching the 200 and the 89 the 2 times they were supposed to bounce off them. (bottom line, my charts look awefully twisted compared to Phillips' nice ones!)

I have just tried Alpari demo, and the charts seem much closer to what Phillips does post with tweezer tops in place (although not as nice of course). But atleast the market rhythm is quite more evident. Right now I am in dire need of advice for a new GMT +2 broker with charts that mimic Phillips'.
Note: (Phillips' broker, MIG, requires a $5,000 min. deposit, and my starting capital is well below that).

I didn't want to shout that one out. But... HELP!
Phillp has paper trade his method 2 years at MIG's mt4 platform. Use MIG's demo service. I use this platform to observe market and do analysis, and use anther one to do my trades.
Plan your trades and trade your plans
  • #17,267
  • Oct 1, 2008 5:37pm Oct 1, 2008 5:37pm
Just like to point out a possible opportunity forming on the Aussie.
Support is only about 60 pips below the potetial breakout though.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd opportunity.jpg Size: 77 KB
  • #17,268
  • Oct 2, 2008 2:37am Oct 2, 2008 2:37am
A transcript of Phillip's "Daily Wrap up 01 Oct2008" MP3.

Cheers!
Attached File(s)
File Type: txt Daily Wrap up 01 Oct2008.txt   5 KB | 440 downloads
In Pursuit of Pippyness...
  • #17,269
  • Oct 2, 2008 2:41am Oct 2, 2008 2:41am
Quoting Nigel
How about opening a Demo account with MIG but trades with some other firms with lower min. deposit? That is what I am doing. heh.
Quoting saka
Phillp has paper trade his method 2 years at MIG's mt4 platform. Use MIG's demo service. I use this platform to observe market and do analysis, and use anther one to do my trades.
Thank you guys, that is exactly what I will do. What you're saying makes much sense, since I do want to experince what Phillip refers to as long as I am still on the learning curve.
In Pursuit of Pippyness...
  • #17,270
  • Oct 2, 2008 3:24am Oct 2, 2008 3:24am
A transcript of Phillip's latest "GbpUsd Trade" MP3.
Attached File(s)
File Type: txt GbpUsd Trade.txt   2 KB | 462 downloads
In Pursuit of Pippyness...
  • #17,271
  • Oct 2, 2008 6:15am Oct 2, 2008 6:15am
I think there is a risky E/U CT trade forming. Price is currently on the 50% retrace of the MONTHLY move up from Dec 2005 - Jul 2008. This also looks very nearly like a double bottom on the daily chart.

So anyway we have a doji forming with divergence on the MACD to price and we have a roundish bottom forming on MACD.

I havent decided whether I will take the risk on yet or not, still 45 mins to decide.
  • #17,272
  • Oct 2, 2008 7:03am Oct 2, 2008 7:03am
Decided not to, the rhythm certainly isnt for up move and the doji never formed....
  • #17,273
  • Oct 2, 2008 8:04am Oct 2, 2008 8:04am
EU made a retest of the broken support and continued down. On 4H a bearish TC was formed but the signal bar had a long lower tail, making it look suspicious a bit. But on 1H (see image) 2 small bars found resistance on the broken support and then price started to move away. It looks like there were 2 possible entry points - either on the crossing of the 2nd white bar's low, or on the closing of the black bar, SL-s of 35..45 pips.

Unfortunately I wasn't sure enough and let it pass.
Attached Image
  • #17,274
  • Oct 2, 2008 9:20am Oct 2, 2008 9:20am
BEARS!
becarefull ,eu is on the monthly trend again .it can breaks down but ,MY ida is :very dangerous to look at the H4 chart to find a breakout point on a weekly/monthly trend line.i need at least a weekly close below it and then a weekly tail to it to look for a possible short trade.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 19 KB
  • #17,275
  • Oct 2, 2008 9:27am Oct 2, 2008 9:27am
Quoting Yorik
EU made a retest of the broken support and continued down. On 4H a bearish TC was formed but the signal bar had a long lower tail, making it look suspicious a bit. But on 1H (see image) 2 small bars found resistance on the broken support and then price started to move away. It looks like there were 2 possible entry points - either on the crossing of the 2nd white bar's low, or on the closing of the black bar, SL-s of 35..45 pips.

Unfortunately I wasn't sure enough and let it pass.
G/U has done a similar thing in the last few hours. But the stop is so huge and also I really dont like the 4H MACD divergence on G/U for shorting.

Im still staying aside for the moment.
  • #17,276
  • Oct 2, 2008 10:23am Oct 2, 2008 10:23am
I decided to take the GU trade on.

Conditions are : On 1H price broke the support line which was also psych level 7600. It pulled back to it and gave 2 lower highs with spikes away from resistance. I opened the short on the second of these. On the 4H price a TC is forming but as I have mentioned earlier there is big divergence at present.

I took quick 20 pips half profit and moved other half to BE which has been hit.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 24 KB
  • #17,277
  • Oct 2, 2008 12:29pm Oct 2, 2008 12:29pm
Quoting BenStevo
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??
I dont think I would have been interested. What will make me interested is if there is a long term resistance together with lets say MACD divergence then the whole picture changes. One has to look what is in your favor and what is against together with candle pattern etc. If in doubt, stay out!!!
  • #17,278
  • Oct 2, 2008 4:23pm Oct 2, 2008 4:23pm
According to the method, the pairs are starting to flow well right now. Even the Yen might be trying to clean itself up. The big question is how the pairs will react to the 'bailout vote'....
  • #17,279
  • Oct 2, 2008 6:06pm Oct 2, 2008 6:06pm
Quoting Palmer
According to the method, the pairs are starting to flow well right now. Even the Yen might be trying to clean itself up. The big question is how the pairs will react to the 'bailout vote'....
The Yen looks good on a 4 Hour chart, but it's been a rough ride. Check out the 1 Hour chart. I rode it out for 20 pips, but it wasn't easy.
  • #17,280
  • Oct 2, 2008 7:50pm Oct 2, 2008 7:50pm
Quoting Hookem28
The Yen looks good on a 4 Hour chart, but it's been a rough ride. Check out the 1 Hour chart. I rode it out for 20 pips, but it wasn't easy.
I agree. USDJPY looks good on both the 4H and D charts. Both forming triangles. I went short this afternoon and the trade is currently up by 28 pips. Moving SL to BE. The 00 barrier in the middle did concern me as there was a previous bounce off of it in the triangle.

Attached Image (click to enlarge)
Click to Enlarge Name: 081002 USDJPY triangle.jpg Size: 116 KB
4 traders viewing now