4 Hour Strategy (MACD) | Page 68 | 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)

  • #1,341
  • Edited 5:32am Feb 27, 2007 5:12am | Edited 5:32am
I see a Long signal with this pair...any comments are welcome. If you can risk a 40-50pip stoploss, I'd say it's a good trade.

Reasons for entry: 1)MACD gave a buy signal with a nice "v" shape TC pattern. 2) Price bounced off 21EMA. 3) Price broke trendline and 61.8% Fib level on Daily chart 4) We are in an uptrend, so you are trading with the trend. 5) Bullish engulfing candle on 4hr chart 6) Price broke 1.3200 level and has stayed above it(so far).

Need I say more? Entered at 1.3207 s/l 1.3157 first t/p 1.3150, second t/p 1.3170

Also, I know the news is coming out...but I've noticed Phillip's system isn't affected too much by news IMHO because it's a longer timeframe(no whipsawing like on the 5min or 15min charts), unless something "unexpected" comes out! Trade at your own risk!!! There may be some up&down movement prior to news, so you could get a better entry if you wait. I'm sure it's due to the Big Guys positioning themselves for the news.
Attached Images
  • #1,342
  • Feb 27, 2007 5:59am Feb 27, 2007 5:59am
Quoting Chandra
Are you a reporter or what! Such a nice report!
My response:
USDCAD.
I agree with your analysis.
What prompted you to use 1.1560 for TP?
Just curious to know!
-Chandra
Well Chandra, I am writing this after the 6:00 AM (EST) candle. As you can see the two previous candles in the cable had tails that if I had stayed with my short position, would have hit my target price and I would have closed with profit. But I "chickened" when I saw the possibility of a change in trend, or shall i say a trend continuation, and closed my position. TURK was in this trade too (hopefully he made some pips here). Well I guess I should take this as a lesson. Stick to my analysis and do not exite prematurely!!!

This is the case with the US/CAD. Last night, 10:00 PM (EST) candle, all pointed to a short position-MACD looked like a TC to the south. Now it is shaping as a long LH. And again i face the dilemma. Cut my losses...or stick to my initial assesment and hope for a reversal? I don't like this because in this case I will be counting on 100% luck: a favorable news report or a change in price that wiil benefit me..even though the curent analysis is saying that i am wrong. I am going to stick to my short until the stop is hitted, but this is being stubborn in my opinion. Maybe my reasons to enter the trade were wrong? What do you people think?

I appreciate all comments-good, bad, and ugly-I am here to learn and hopefully be able to trade profitably, which as you can see, is not what i have been doing with these two last trades!!!
  • #1,343
  • Feb 27, 2007 6:03am Feb 27, 2007 6:03am
Good analysis, and I would agree about phillips system not being too much affected by news. However this trade is too rich for my blood for the moment. Unless I see it hitting off the 1.32 line for a long time before news, then I may re-evaluate.

Update: my gbp/usd has officially broken/peirced my upper tl

Quoting Tw0eleven
I see a Long signal with this pair...any comments are welcome. If you can risk a 40-50pip stoploss, I'd say it's a good trade.

Reasons for entry: 1)MACD gave a buy signal with a nice "v" shape TC pattern. 2) Price bounced off 21EMA. 3) Price broke trendline and 61.8% Fib level on Daily chart 4) We are in an uptrend, so you are trading with the trend. 5) Bullish engulfing candle on 4hr chart 6) Price broke 1.3200 level and has stayed above it(so far).

Need I say more? Entered at 1.3207 s/l 1.3157 first t/p 1.3150, second t/p 1.3170

Also, I know the news is coming out...but I've noticed Phillip's system isn't affected too much by news IMHO because it's a longer timeframe(no whipsawing like on the 5min or 15min charts), unless something "unexpected" comes out! Trade at your own risk!!! There may be some up&down movement prior to news, so you could get a better entry if you wait. I'm sure it's due to the Big Guys positioning themselves for the news.
DireXiv Make it happen, no one else is going to do it for you...
  • #1,344
  • Feb 27, 2007 6:09am Feb 27, 2007 6:09am
Quoting Tw0eleven
I see a Long signal with this pair...any comments are welcome. If you can risk a 40-50pip stoploss, I'd say it's a good trade.

Reasons for entry: 1)MACD gave a buy signal with a nice "v" shape TC pattern. 2) Price bounced off 21EMA. 3) Price broke trendline and 61.8% Fib level on Daily chart 4) We are in an uptrend, so you are trading with the trend. 5) Bullish engulfing candle on 4hr chart 6) Price broke 1.3200 level and has stayed above it(so far).

Need I say more? Entered at 1.3207 s/l 1.3157 first t/p 1.3150, second t/p 1.3170

Also, I know the news is coming out...but I've noticed Phillip's system isn't affected too much by news IMHO because it's a longer timeframe(no whipsawing like on the 5min or 15min charts), unless something "unexpected" comes out! Trade at your own risk!!! There may be some up&down movement prior to news, so you could get a better entry if you wait. I'm sure it's due to the Big Guys positioning themselves for the news.
TwoEleven, I guess your t/p's are: 3250 and 3270?
  • #1,345
  • Feb 27, 2007 6:12am Feb 27, 2007 6:12am
Quoting tamkras
thanks, Mike. I've been unlucky so far with MACD pattern for eur/yen and this is my last time, I promise... If it does not work, I quit it. Failing 3 times is a system.
hi all, this will be my short post to confirm closing second lot on usd/jpy. Hope someone was riding with me. Talk to you soon. Yours, Tamkras.
Attached Image
  • #1,346
  • Feb 27, 2007 6:14am Feb 27, 2007 6:14am
Quoting alcastro
TwoEleven, I guess your t/p's are: 3250 and 3270?
That's correct...I'm watching this trade live so I can exit manually. Just in case it doesn't quite reach 3250, I can exit at 3245 or if it doesn't reach 3270, I can exit at 3260 for example. Also, as price goes up, I'll move my stoploss up. I like what Phillip mentioned on an earlier post "never let a 25pip gain turn into a loss." So I'll probably move my s/l to breakeven if I get a 25pip gain.
  • #1,347
  • Feb 27, 2007 6:39am Feb 27, 2007 6:39am
Too many fundamental variables to be in the market this morning. I'll wait until the close of this candle to enter any $ cross.
  • #1,348
  • Feb 27, 2007 6:44am Feb 27, 2007 6:44am
Hey Tamkras,

Nice work!

I rode the usd/jpy and the eur/jpy down for 184 pips total... I got closed out while I was sleeping... but I can imagine I enjoyed it while I was sleeping

Quoting tamkras
hi all, this will be my short post to confirm closing second lot on usd/jpy. Hope someone was riding with me. Talk to you soon. Yours, Tamkras.
DireXiv Make it happen, no one else is going to do it for you...
  • #1,349
  • Feb 27, 2007 6:49am Feb 27, 2007 6:49am
Quoting Chandra
EURUSD.
2007-02-27 8:00 GMT Bar
4-Hr. Chart.
IBFX Platform.

Phillip.
I hope you are using IBFX platform.
At about 08:31:21, while the 8:00 candle is still forming, I see a RT signal already comppleted on previous (4:00 ) candle telling us to go short; and in the current candle (8:00), it is forming a valley. If the current bar is completed as it is now, then, the valley will be completed, giving a TC signal to go long.
Which of the two signals we should take? (the RT signal on 4:00 candle to go short OR the TC signal currently being formed on the current bar?).
Thanks.
-Chandra.
Hi Chandra and all,

As I was trying to sleep a bit tonight, I had this thought that we were sort of starting to use Phillip's system backwards. By this I mean, we are looking at MACD signal without considering price action first. The MACD is the trigger IF price is at a level (support, MA, resistance) where our r:r is feasible and favorable. Seems like we are trying to force trades instead of waiting for them to come to us. Just a thought that kept me up tonight and thought I'd share.

Happy trading.

ps. you asked about divergence earlier, Investopedia is a great place to learn all about regular bullish/bearish divergence and hidden divergence (will give you a headache for weeks trying to get that one! )
  • #1,350
  • Feb 27, 2007 6:51am Feb 27, 2007 6:51am
Quoting tamkras
hi all, this will be my short post to confirm closing second lot on usd/jpy. Hope someone was riding with me. Talk to you soon. Yours, Tamkras.
Even on vacation, you manage to keep your piggy well fed!! Well done!

Hope you and your family are enjoying your time away! We miss you on the forum.

Best,
Pips
  • #1,351
  • Feb 27, 2007 6:52am Feb 27, 2007 6:52am
Quoting DireXiv
Hey Tamkras,

Nice work!

I rode the usd/jpy and the eur/jpy down for 184 pips total... I got closed out while I was sleeping... but I can imagine I enjoyed it while I was sleeping
Sweet!!! You've been doing a great job with your analysis and trading!
  • #1,352
  • Edited 1:01pm Feb 27, 2007 6:54am | Edited 1:01pm
Quoting DireXiv
Hey Tamkras,

Nice work!

I rode the usd/jpy and the eur/jpy down for 184 pips total... I got closed out while I was sleeping... but I can imagine I enjoyed it while I was sleeping
This is a complete M.A.C.D.ness, he-he! MACD is underlined.
  • #1,353
  • Feb 27, 2007 6:56am Feb 27, 2007 6:56am
Quoting Tw0eleven
I see a Long signal with this pair...any comments are welcome. If you can risk a 40-50pip stoploss, I'd say it's a good trade.

Reasons for entry: 1)MACD gave a buy signal with a nice "v" shape TC pattern. 2) Price bounced off 21EMA. 3) Price broke trendline and 61.8% Fib level on Daily chart 4) We are in an uptrend, so you are trading with the trend. 5) Bullish engulfing candle on 4hr chart 6) Price broke 1.3200 level and has stayed above it(so far).

Need I say more? Entered at 1.3207 s/l 1.3157 first t/p 1.3150, second t/p 1.3170

Also, I know the news is coming out...but I've noticed Phillip's system isn't affected too much by news IMHO because it's a longer timeframe(no whipsawing like on the 5min or 15min charts), unless something "unexpected" comes out! Trade at your own risk!!! There may be some up&down movement prior to news, so you could get a better entry if you wait. I'm sure it's due to the Big Guys positioning themselves for the news.
Nice analysis! Hope the trend runs like a freight train in your trades direction!!
  • #1,354
  • Feb 27, 2007 7:02am Feb 27, 2007 7:02am
Quoting pips4uandme
Even on vacation, you manage to keep your piggy well fed!! Well done!

Hope you and your family are enjoying your time away! We miss you on the forum.

Best,
Pips
I'll be back. You are great people to spend time with. I wish you all be here with me... Yours, Tamkras.
  • #1,355
  • Feb 27, 2007 7:20am Feb 27, 2007 7:20am
Quoting tamkras
hi all, this will be my short post to confirm closing second lot on usd/jpy. Hope someone was riding with me. Talk to you soon. Yours, Tamkras.
Yep, I took that one. I closed it at the 365 ema

I am also short USDCAD (not moving)

I have not had any losses yet at all but i have been very very selective of my trades.

DD
  • #1,356
  • Feb 27, 2007 7:26am Feb 27, 2007 7:26am
Quoting Digitaldean
Yep, I took that one. I closed it at the 365 ema

I am also short USDCAD (not moving)

I have not had any losses yet at all but i have been very very selective of my trades.

DD
Welcome, Digital, to the forum of MACD discoverers. I'm sure you will find it rewarding. Time well spent. Well done!
  • #1,357
  • Feb 27, 2007 7:33am Feb 27, 2007 7:33am
Quoting tamkras
Welcome, Digital, to the forum of MACD discoverers. I'm sure you will find it rewarding. Time well spent. Well done!

Just closed my usdcad trade for a my first loss of 5 pips because of the news coming out.

Watch it fall now lol

DD
  • #1,358
  • Feb 27, 2007 8:47am Feb 27, 2007 8:47am
Quoting tamkras
hi all, this will be my short post to confirm closing second lot on usd/jpy. Hope someone was riding with me. Talk to you soon. Yours, Tamkras.
Tamkras,

Your US/JP trade was a beautiful textbook trade: bearish engulfing candle, MACD showing the right pattern, and you managed your money wisely.


Well done!!!!
  • #1,359
  • Feb 27, 2007 9:21am Feb 27, 2007 9:21am
See you guys at the cotc....close of the candle...
  • #1,360
  • Edited 10:05pm Feb 27, 2007 9:40am | Edited 10:05pm
Quoting Digitaldean
Just closed my usdcad trade for a my first loss of 5 pips because of the news coming out.

Watch it fall now lol

DD
Watch out! Because I'm long since 1.1580. My apologies to everyone as I did not post my entry on this pair which I usually do. But I will show it for sure. Yours, Tamkras.

My first TP was 1.1635 - just completed.
Next target is 1.1670. Waiting.

EDIT: 2 lots are completed. I attach the trades.
Attached Image
6 traders viewing now