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4 Hour Strategy (MACD)

  • #17,441
  • Oct 14, 2008 8:08pm Oct 14, 2008 8:08pm
thank you philipe!!!
thank you DEJA!!!
  • #17,442
  • Oct 15, 2008 1:56am Oct 15, 2008 1:56am
i Use The PDA Smartphone version of MetaTrader, but i have a problem loading the colored indicator, please is there anyone out there using the colored MACD indicator on his/her pda metatrader that can give me any info on how to install it in mine.
  • #17,443
  • Edited 3:00am Oct 15, 2008 2:14am | Edited 3:00am
On 4H EURUSD crossed EMA21 and support line downwards, came back to it and now seems to be starting to move down. On 1H a bearish TC was formed on the closing of 10-11:00 bar (GMT+1). On 5min price formed several lower highs, roundish upwards.

So I decided to take an early entry from 1H. Entry - 1.3579; SL1 - 1.3615, SL2 - 1.3625 (average 41 pips); TP1 - 1.3559 (20 pips), TP2 - 1.3505 (74 pips) (average 47 pips); RR>1.

At the moment position is in a small minus, but hasn't crossed resistance line on 5min yet. Will see.. Any comments?

Edit1: 40 min later - price is in 10 pips from SL1 (1.3615), on 1H medium sized rather strong bullish bar, hasn't crossed EMA21 upwards yet, but might; on 4H picture isn't so nice any more. Averall picture seems like I might get another loss we'll see..
Edit2: stopped out, -41 pips.
Attached Image
  • #17,444
  • Oct 15, 2008 3:13am Oct 15, 2008 3:13am
Quoting Yorik
On 4H EURUSD crossed EMA21 and support line downwards, came back to it and now seems to be starting to move down. On 1H a bearish TC was formed on the closing of 10-11:00 bar (GMT+1). On 5min price formed several lower highs, roundish upwards.

So I decided to take an early entry from 1H. Entry - 1.3579; SL1 - 1.3615, SL2 - 1.3625 (average 41 pips); TP1 - 1.3559 (20 pips), TP2 - 1.3505 (74 pips) (average 47 pips); RR>1.

At the moment position is in a small minus, but hasn't crossed resistance line on 5min yet. Will see.. Any comments?

Edit1: 40 min later - price is in 10 pips from SL1 (1.3615), on 1H medium sized rather strong bullish bar, hasn't crossed EMA21 upwards yet, but might; on 4H picture isn't so nice any more. Averall picture seems like I might get another loss we'll see..
Edit2: stopped out, -41 pips.
There appears to be a lack of rhythm on the EURUSD at the moment - looks like it may be going into a range to me. Also, the bearish TC is marginal - not smooth.

Sorry, but its not looking too good.
James The Beekeeper
  • #17,445
  • Oct 15, 2008 5:37am Oct 15, 2008 5:37am
Quoting fxtrayda
i Use The PDA Smartphone version of MetaTrader, but i have a problem loading the colored indicator, please is there anyone out there using the colored MACD indicator on his/her pda metatrader that can give me any info on how to install it in mine.
I don't think you can use custom indicators or EA's on any PDAs or mobil devices. It's an MT4 limitation. You can check in the programming forum here and find out if there has been an upgrade...
  • #17,446
  • Oct 15, 2008 5:39am Oct 15, 2008 5:39am
PPI up, retail sales and manufacturing way down...bad US eco news. Dollar weakening again???
  • #17,447
  • Oct 15, 2008 6:18am Oct 15, 2008 6:18am
Quoting Yorik
On 4H EURUSD crossed EMA21 and support line downwards, came back to it and now seems to be starting to move down. On 1H a bearish TC was formed on the closing of 10-11:00 bar (GMT+1). On 5min price formed several lower highs, roundish upwards.

So I decided to take an early entry from 1H. Entry - 1.3579; SL1 - 1.3615, SL2 - 1.3625 (average 41 pips); TP1 - 1.3559 (20 pips), TP2 - 1.3505 (74 pips) (average 47 pips); RR>1.

At the moment position is in a small minus, but hasn't crossed resistance line on 5min yet. Will see.. Any comments?

Edit1: 40 min later - price is in 10 pips from SL1 (1.3615), on 1H medium sized rather strong bullish bar, hasn't crossed EMA21 upwards yet, but might; on 4H picture isn't so nice any more. Averall picture seems like I might get another loss we'll see..
Edit2: stopped out, -41 pips.
i looked at the H1 chart and ur entry point ,it was a good trade i think .but u could enter earlier after that shooting star and hanging man or at the end of first bearish candle
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  • #17,448
  • Oct 15, 2008 6:48am Oct 15, 2008 6:48am
1.target1.3538 / 2. target 1.3488
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  • #17,449
  • Oct 15, 2008 6:57am Oct 15, 2008 6:57am
Quoting mr.krai
1.target1.3538 / 2. target 1.3488
Hi! Where did you put your SL? (~1.365?)
p.s. I decided not to enter because of noticeable lower shadow of the signal bar and a bit marginal MACD confirmation.
  • #17,450
  • Oct 15, 2008 6:57am Oct 15, 2008 6:57am
Quoting mr.krai
1.target1.3538 / 2. target 1.3488
your chart is so messy. =/
  • #17,451
  • Oct 15, 2008 7:19am Oct 15, 2008 7:19am
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  • #17,452
  • Oct 15, 2008 7:44am Oct 15, 2008 7:44am
Just a few words...

The rhythm with some of the pairs is stalling or changing lately. Recognizing the flow of the market and determining an entry point is critical. The swissie chart (4hr) show nice rhythm with a few pullbacks to the 21 (two vertical white lines). The 1hr shows a few early entry set-ups. The first was is a large gap-up and we know NOT to chase those. Gaps like to be filled and here we see that is exactly how this played out with the DM+/DM- (1hr) cross giving a second chance opportunity to get in with the TC. Worked out fine, after the gap was filled. Now the second pullback to the 21 on the 4hr. Looks like a textbook entry but the 1hr DM cross happened and it failed resulting in a losing trade. There are a lot of questions as to Why didn't this work or I did everything correctly and the trade was a loser....

The answer is simple. This is all part of trading and the trend(rhythm) has to pause or change at some point. Whent he 8/21 have a nice spread between them and the price comes back to the 21 and resumes direction quickly (one or two candles on the 4hr) this is strong rhythm. But, like the US indexes, things change direction or pause for a while. The swissie here, is bulllish (above the 89) but now has numerous closes below the 21 and the 8/21 are very close to each other. This is what I stay away from and if I really want to trade this pair, look for alternative strategies to enter. But again, if there is no rhythm I really find it hard to trade at all.

Strong rhythm is the key along with stops in the event things are changing and things will change...
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  • #17,453
  • Oct 15, 2008 10:14am Oct 15, 2008 10:14am
Quoting mr.krai
1.target1.3538 / 2. target 1.3488
i've count nine (9) 4 hour worksheets at yuor prntscrn chart... Why do u need them? where is a trick?
  • #17,454
  • Oct 15, 2008 11:00am Oct 15, 2008 11:00am
I got stopped out on a trade this morning. I went Short on the Euro.
The price broke through the 21. Came back to test it and the trendline so I went short. But it made another pin bar and stopped me out. Almost all of my trades have been doing this lately. The stop on this one was only 30 pips or so. I guess I should have gone with 50. Does anyone else have this problem? 80-85 percent of the time I know the direction it is heading but my stop gets taken out.
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  • #17,455
  • Oct 15, 2008 11:06am Oct 15, 2008 11:06am
question :
why in so many chart here,
i see people using MACD color v102...and not the latest one V105?

sorry if this question sound weird....but i just curios....

anyone can tell what the different between this indi?
  • #17,456
  • Oct 15, 2008 5:44pm Oct 15, 2008 5:44pm
Quoting vette1974
I got stopped out on a trade this morning. I went Short on the Euro.
The price broke through the 21. Came back to test it and the trendline so I went short. But it made another pin bar and stopped me out. Almost all of my trades have been doing this lately. The stop on this one was only 30 pips or so. I guess I should have gone with 50. Does anyone else have this problem? 80-85 percent of the time I know the direction it is heading but my stop gets taken out.

Use the staggered entry technique. Look back at phillips long candle entry. this technique has helped me tremendously.
  • #17,457
  • Oct 15, 2008 7:27pm Oct 15, 2008 7:27pm
Quoting Seki
i've count nine (9) 4 hour worksheets at yuor prntscrn chart... Why do u need them? where is a trick?
sorry,I speaks England not fluent i just to learn forex very long ago and i wrong the step , beg pardon with, i use chart 4 Hour Strategy (MACD) but i see chart big the candle daily sooting star and i see support resistant
t3ma center of gravity 1h 4h , macd trandline 1 hr ,rhythm 4h and Fibonacci Ratios
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  • #17,458
  • Oct 15, 2008 11:06pm Oct 15, 2008 11:06pm
GBPUSD - price formed double top on Wed., 15/10, then crossed EMA21 down, came back to EMA21 and now shows signs of continuing downmove. Is it a good setup according to rhythm?

On 4H there's no confirmation from MACD (TC). On 1H bearish TC was formed 1H ago, then price retested SMA89/200 wih a long upper shadow (like a false move upwards).

Decicion: stayed out because on 4H direction is changed too aggressively and because SL had to be >50 pips (if to place it over the opening of the 1H bar previous to the signal one).

Any comments? Has anyone taken this setup?
Attached Images
  • #17,459
  • Oct 16, 2008 9:27am Oct 16, 2008 9:27am
EurUsd. Nice tail from the 21ema. Target is bottom TL.

Entry 1.3450
SL 1.3480(The tail has done the damage therefore my stoploss of 30.)
TP as from 1.3410

Close at 1.3410 for +40pips
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  • #17,460
  • Oct 16, 2008 9:44am Oct 16, 2008 9:44am
Quoting Phillip Nel
EurUsd. Nice tail from the 21ema. Target is bottom TL.

Entry 1.3450
SL 1.3480(The tail has done the damage therefore my stoploss of 30.)
TP as from 1.3410

Close at 1.3410 for +40pips
But the MACD does not confirm the set up?
Would you explain why you decided short?
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