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4 Hour Strategy (MACD)

  • #17,361
  • Oct 8, 2008 6:40am Oct 8, 2008 6:40am
That's a good observation. As far as any changes go, I don't think so. The volatility as caused the MACD to produce some large numbers for the color change but Phillip has stressed not to trade specifically with the MACD. Just be aware of it more or less. We might see a few closes on the 'other side' of the 21 in some of the pairs given the news. I was thinking of being cautious with the TC's yesterday but I wasn't expecting the Fed to do what it did....
  • #17,362
  • Oct 8, 2008 7:21am Oct 8, 2008 7:21am
Latest Breaking News which was not expected today-

The Federal Reserve led a coordinated round of global official rate cuts on Wednesday, easing by a half-point, as did the European Central Bank, Bank of England and Swiss, Canadian and Swedish banks. In an attempt to stem unprecedented global market turmoil, the Fed cut its key federal funds lending rate by half a percentage point to 1.5 percent and also lowered its discount rate by the same amount to 1.75 percent. The ECB also cut by a half-point to 3.75 percent as did the Bank of England, taking its rate to 4.5 percent....

-Courtesy of Yahoo Finance
  • #17,363
  • Oct 8, 2008 8:11am Oct 8, 2008 8:11am
Quoting xeneric
Latest Breaking News which was not expected today-

The Federal Reserve led a coordinated round of global official rate cuts on Wednesday, easing by a half-point, as did the European Central Bank, Bank of England and Swiss, Canadian and Swedish banks. In an attempt to stem unprecedented global market turmoil, the Fed cut its key federal funds lending rate by half a percentage point to 1.5 percent and also lowered its discount rate by the same amount to 1.75 percent. The ECB also cut by a half-point to 3.75 percent as did the Bank of England, taking its rate to 4.5 percent....

-Courtesy of Yahoo Finance
Thats why AUDUSD dropped 300+pips within an 30mins, EURJPY jumped 300+ too within 2mins. this is war!

Looking at EURUSD to close above the 21EMA and every other thing (ADX and Rhythm) to fall in place. I will look to go LONG on the 1HR for a target of the 89SMA.........
  • #17,364
  • Oct 8, 2008 8:17am Oct 8, 2008 8:17am
I'm very happy within my self for coming across this thread on the 25th of sept,08, this thread has shown more light on how to trade currency, the market rythm & price movement is superb and fantanstic ,i've downloaded all the pdf's and printed out for easy reading, the mp3's which i'm playing as music now.For now,am trading only trend continuation pattern & perfect setup(valley) pattern on 1hr for good entry and doing my analysis of exist on 4hr by using fibo, trendline,21ema, at times 8ema,PHILLY THANK A MILLION/BILLION/TRILLION FOR THIS PRECIOUS 4HOUR MACDSTRATEGY MAY GOD CONTINUE TO BLESS YOUR PIPS ACCOUNT AND MORE POWER TO YOUR ELBOW.PALMER THANK A MILLION/BILLION/TRILLION FOR YOUR AVERAGE DIRECTIONALMOVEMENT INDEX MAY GOD CONTINUE TO BLESS YOUR PIPS ACCOUNT AND MORE POWER TO YOUR ELBOWI've make up to $348.24
  • #17,365
  • Oct 8, 2008 8:19am Oct 8, 2008 8:19am
I'm very happy within my self for coming across this thread on the 25th of sept,08, this thread has shown more light on how to trade currency, the market rythm & price movement is superb and fantanstic ,i've downloaded all the pdf's and printed out for easy reading, the mp3's which i'm playing as music now.For now,am trading only trend continuation pattern & perfect setup(valley) pattern on 1hr for good entry and doing my analysis of exist on 4hr by using fibo, trendline,21ema, at times 8ema,PHILLY THANK A MILLION/BILLION/TRILLION FOR THIS PRECIOUS 4HOUR MACDSTRATEGY MAY GOD CONTINUE TO BLESS YOUR PIPS ACCOUNT AND MORE POWER TO YOUR ELBOW.PALMER THANK A MILLION/BILLION/TRILLION FOR YOUR AVERAGE DIRECTIONALMOVEMENT INDEX MAY GOD CONTINUE TO BLESS YOUR PIPS ACCOUNT AND MORE POWER TO YOUR ELBOWI've make up to $348.24
  • #17,366
  • Oct 8, 2008 8:45am Oct 8, 2008 8:45am
I don't use this to trade by but when the 8/21 cross above the 89 (1hr), sometimes that can be a prelude to a trend change on the 4hr...
Attached Image
  • #17,367
  • Oct 8, 2008 9:20am Oct 8, 2008 9:20am
It looks like the price is going south on the Euro. I knew it but I was nervous to pull the trigger there were too many pin bars taking out stops. Plus with the news releases this morning and due today.
Maybe I just talked myself out of it I don't know.
  • #17,368
  • Oct 8, 2008 9:24am Oct 8, 2008 9:24am
Quoting vette1974
It looks like the price is going south on the Euro. I knew it but I was nervous to pull the trigger there were too many pin bars taking out stops. Plus with the news releases this morning and due today.
Maybe I just talked myself out of it I don't know.
I agree with you looks like south but with large stops lots of spikes and high spreads from most platforms I would stay out.
  • #17,369
  • Oct 8, 2008 9:29am Oct 8, 2008 9:29am
Quoting brettboz
I agree with you looks like south but with large stops lots of spikes and high spreads from most platforms I would stay out.
Not sure about your prediction. Could go either way IMO, maybe a change of trend? I would certainly wait for the MACD to give any sort of indication of TC. Some of the recent volatility might ebb now that the major announcements of today have been digested by the markets.
James The Beekeeper
  • #17,370
  • Oct 8, 2008 9:44am Oct 8, 2008 9:44am
vette:

I agree: overall trend is down but three of the last five bars on the 4hr have been doji's = indecision. The good thing here is that we all recognize the fact that the rhythm has stalled somewhat right now so we agree to wait for direction. To me, that's a positive either way.
  • #17,371
  • Oct 8, 2008 9:53am Oct 8, 2008 9:53am
Quoting edeyj999
Not sure about your prediction. Could go either way IMO, maybe a change of trend? I would certainly wait for the MACD to give any sort of indication of TC. Some of the recent volatility might ebb now that the major announcements of today have been digested by the markets.
I quite agreed with you, there are lots of indecisions inrelation to price direction.Best to stay out of war zone.
  • #17,372
  • Oct 8, 2008 10:03am Oct 8, 2008 10:03am
Price resting on some nice support, maybe we could play a possible breakout by entering when retrace to the 21 ema on 1 hour.
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  • #17,373
  • Oct 8, 2008 10:26am Oct 8, 2008 10:26am
Quoting Palmer
vette:

three of the last five bars on the 4hr have been doji's = indecision. The good thing here is that we all recognize the fact that the rhythm has stalled somewhat right now so we agree to wait for direction. .
You are right. i think the wisest thing to do is to 'wait' for the it to show its direction before entering.

(Thinking out loud), From my charts, i think a close above the 21EMA alongside rhythm will signal a change in trend. When this happens, i will place a buystop order maybe 50pips above 1.3742 (two highest highs so far today). TP will be the 38.2 fibo.

But all the same, lets wait and see what happens..........am enjoying this biz!
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  • #17,374
  • Oct 8, 2008 10:55am Oct 8, 2008 10:55am
Quoting Yorik
Both EU and GU formed bearish TCs at the close of 4-8:00 bar.

I took EU at 1.3573..71. Divided SL into 2 parts - 1) 1.3602 (31 pips) and 2) 1.3628 (57 pips), average 44 pips. TPs: 1) 1.3553 (21 pips, already hit) and 2) 1.3485 (85 pips); av. TP 51 pips, R:R>1.
At the moment moved SL of the part left to -21 pips. Think to trail it over the trendline on 5min.
Edit: 2nd part closed at -21. Total result: 0 pips.

TC on GU was also quite nice. Besides moving from EMA21 it might make a continuation of the downmove after the retest of the trendline, broken on Mon. 06\10\08, but SL had to be too big (even divided into 2 parts).

Hi
I was only looking to go long due to the breakout. The 1hour did not give nice signal so I left it alone.
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  • #17,375
  • Oct 8, 2008 12:44pm Oct 8, 2008 12:44pm
1 hr approaching the top of the range right now...might look at a lower tf for an entry or just trade it and see what happens...
  • #17,376
  • Oct 8, 2008 4:14pm Oct 8, 2008 4:14pm
Still jet lagging from my Boston flight. Good thing too. I made this trade before I went to bed last night on a nice TC and bounce off of resistance for GU. Woke up to an 80 pip gain. Only thing better than a cup of coffee in the morning is waking up to a bag of pips.

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Not sure what's going on with the EU. Looks like it good be forming a continuation flag or an ascending triangle. MACD is crawling through the zero line.

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  • #17,377
  • Oct 8, 2008 4:25pm Oct 8, 2008 4:25pm
Quoting Palmer
That's a good observation. As far as any changes go, I don't think so. The volatility as caused the MACD to produce some large numbers for the color change but Phillip has stressed not to trade specifically with the MACD. Just be aware of it more or less. We might see a few closes on the 'other side' of the 21 in some of the pairs given the news. I was thinking of being cautious with the TC's yesterday but I wasn't expecting the Fed to do what it did....
I had similar issues with MACD v102 and v103. Here is a screen shot of the default MACD and the colored MACD. Why is my scale on the colored MACD in the thousands. When I see other posts their scales are correct. I've already uninstalled and reinstalled my platform with no success. Suggestions???
Attached Image (click to enlarge)
Click to Enlarge Name: MACD scales.jpg Size: 73 KB
  • #17,378
  • Oct 8, 2008 5:09pm Oct 8, 2008 5:09pm
MAD:

Does your broker quote with an extra digit such as 1.5000 vs 1.50000? I think I tweaked the MACD code to work with both quote types. If that's it, download the extra digit MACDv102 here: http://www.fxtradeblog.com/tools.html#indicators

Let me know if that was the problem...
  • #17,379
  • Oct 8, 2008 6:05pm Oct 8, 2008 6:05pm
i think so .the macd on fxpro is like the one,the horizontal lines are too closer to the zero line.because the broker give six digitals like 1.50001
  • #17,380
  • Oct 8, 2008 7:24pm Oct 8, 2008 7:24pm
Quoting Palmer
MAD:

Does your broker quote with an extra digit such as 1.5000 vs 1.50000? I think I tweaked the MACD code to work with both quote types. If that's it, download the extra digit MACDv102 here: http://www.fxtradeblog.com/tools.html#indicators

Let me know if that was the problem...
Thanks Palmer. That was it.
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