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4 Hour Strategy (MACD)

  • #1,481
  • Feb 28, 2007 11:43am Feb 28, 2007 11:43am
Quoting Phillip Nel
As you get to know the movement and motion and interaction of the price with the different MA's you will be able to judge the entry on the 1hour as well around other MA's.
I enter that trade on the bounce off the 89SMA solely to support the possible bounce off the 4 hour 21EMA @ 1.3205 with sl @ 1.3178 and first target 1.3230 (closest high) Took 50% gain at 1.3228 and rest at breakeven. There were some scary moments when it tested the 89SMA again on the 1hour.

I looked at the 4hour and saw a possible bounce of the 21EMA. Then I went to the 1hour chart and noticed a bounce off the 89SMA which supports an up movement which is in harmony with the 4hour possible movement. Should the 4hour now give an trend continuation signal, I re-enter the 50% I took profit on and still have the other 50% open.

If you are confused with the 1hour strategy, I want you to ignore it till you have mastered the 4Hour MACD.
I took a quick 30 pips and out trade. Still getting a feel for your great system
Phillip on my micro account.

Thanks again for your system and teachings,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,482
  • Feb 28, 2007 12:19pm Feb 28, 2007 12:19pm
Quoting Golfer
Hi Chandra

Just as I understand it. Well put. I've tried to demo trade the 1h charts (recommended by Benf) with the 4h system but after my first 2 trades (EUR$) being losses and Phillip advice not the use the 4h system on the 1h charts (too many false signals), I've decided to stay with the 4h charts.

My view point: Just use 1h chart to confrim RT & TC on the 4h chart. Don't trade the 1 chart if you cannot stay live with the trade or if it isn't your style.

Willem
Great advice. Thank you.
I always stayed with 4-Hr for trading and used its own signals.
ONLY this "TC followed by an RT" was confusing. Now, Phillip has given us a tool for this (Tool being, check with 1-Hr cnart). I use the tool for this "RT & TC aprehension".
Thanks
-Chandra
  • #1,483
  • Edited 12:50pm Feb 28, 2007 12:39pm | Edited 12:50pm

Hello Phil and all.


Would it be possible for trades to be posted also with time of entry or point of 4hr candle.Maybe (3) to signify 3rd hour of candle. as a 4hr period is long time.I feel it would give better insight into entering trades (timing)

Cheers

ps. Phil,when would you consider a short term trend to be in place ,do the short term MAs have to be in that direction?
  • #1,484
  • Feb 28, 2007 12:51pm Feb 28, 2007 12:51pm
Quoting FOURX
Hello Phil and all.

Would it be possible for trades to be posted also with time of entry or point of 4hr candle.Maybe (3) to signify 3rd hour of candle. as a 4hr period is long time.I feel it would give better insight into entering trades (timing)

Cheers
Will do so.
  • #1,485
  • Feb 28, 2007 1:46pm Feb 28, 2007 1:46pm
Just a question in learning,
Why or why not would there be a trade on the EUR/JPY at least to the 21 ema. Any teachers out there?

Jim
  • #1,486
  • Edited 2:59pm Feb 28, 2007 2:57pm | Edited 2:59pm
Quoting Chandra
Great advice. Thank you.
I always stayed with 4-Hr for trading and used its own signals.
ONLY this "TC followed by an RT" was confusing. Now, Phillip has given us a tool for this (Tool being, check with 1-Hr cnart). I use the tool for this "RT & TC aprehension".
Thanks
-Chandra
I had the same problem. I lost count the number of times I've gone through the pdf file to understand the various formations - still struggling. But it is becoming clearer now with all the examples posted and discussions.

For beginners like me, I think one should first learn to recognise the patterns being developed, then look at the MA, then bring the trendlines into play. From the begining I was trying to do all three things together - very confusing. Also, stay with one pair (another fault on my side) and study it dept - back tracking and -testing.

Today I've tried to trade the $JPY on a RB formation on MACD - my SL was to close (30 pips) and it resulted in a loss (enter @ 118.43 on 04H00 GMT candle - unfortunately the tail got to me). I am not familiar with this pair but I thought it looks like a nice RB on MACD.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,487
  • Edited 4:33pm Feb 28, 2007 4:23pm | Edited 4:33pm
Quoting Golfer
I had the same problem. I lost count the number of times I've gone through the pdf file to understand the various formations - still struggling. But it is becoming clearer now with all the examples posted and discussions.

For beginners like me, I think one should first learn to recognise the patterns being developed, then look at the MA, then bring the trendlines into play. From the begining I was trying to do all three things together - very confusing. Also, stay with one pair (another fault on my side) and study it dept - back tracking and -testing.

Today I've tried to trade the $JPY on a RB formation on MACD - my SL was to close (30 pips) and it resulted in a loss (enter @ 118.43 on 04H00 GMT candle - unfortunately the tail got to me). I am not familiar with this pair but I thought it looks like a nice RB on MACD.

Willem
Quoting hard1head1
Just a question in learning,
Why or why not would there be a trade on the EUR/JPY at least to the 21 ema. Any teachers out there?
This is just what I being doing. I do not take counter trend trades until I develop a better feel and understanding of this system. (Which I enjoy.)

I follow the 89 ema trend, look for entry signal on MACD and then S/R for exits and stops. (James16 price action, of cousre is always present in my mind.) These are higher probability trade in my veiw.

When I get better at this, I'll start implementing countertrend trades.

Just my thoughts,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,488
  • Feb 28, 2007 4:28pm Feb 28, 2007 4:28pm
Quoting Phillip Nel
As you get to know the movement and motion and interaction of the price with the different MA's you will be able to judge the entry on the 1hour as well around other MA's.
I enter that trade on the bounce off the 89SMA solely to support the possible bounce off the 4 hour 21EMA @ 1.3205 with sl @ 1.3178 and first target 1.3230 (closest high) Took 50% gain at 1.3228 and rest at breakeven. There were some scary moments when it tested the 89SMA again on the 1hour.

I looked at the 4hour and saw a possible bounce of the 21EMA. Then I went to the 1hour chart and noticed a bounce off the 89SMA which supports an up movement which is in harmony with the 4hour possible movement. Should the 4hour now give an trend continuation signal, I re-enter the 50% I took profit on and still have the other 50% open.

If you are confused with the 1hour strategy, I want you to ignore it till you have mastered the 4Hour MACD.
Phillip, No! I have understood the 1-Hr Support Strategy very well. (Please see my big email to day on this subject and comment)
When you mentioned 9 MA and 21MA, I forgot that the 89 MA is of 1-Hr. chart and the 21 MA is of 4-Hr. Chart.
You mean to say while the bounce off on the 4-Hr. chart (on 21 MA) was still formiing, the bounce off on 1-Hr. chart (on 89 MA) has already happened and so you took the bounce off TC trade to long side. See! how well I have undertood your concept!!http://www.forexfactory.com/images/icons/icon7.gif
The SL 3178, is it based on the 89 MA of 1-Hr chart or the recent low in the 4-Hr. chart?
Thanks.
PS: Can we apply this comparision study for all signals?
-Chandra
  • #1,489
  • Feb 28, 2007 5:04pm Feb 28, 2007 5:04pm
Quoting AlphaPip
GBP/$ showing a small climb in MACD, but too much MA resistance above it to enter. Standing aside.
Can you please reiterate what is that "Climb in MACD" you are refering to?
Can you give the chart time frame and the candle time and the signal name you are talking about so that we can also see it
Thanks.
-Chandra
  • #1,490
  • Feb 28, 2007 5:15pm Feb 28, 2007 5:15pm
Quoting jarroo
EURUSD Trade.

1Hr - bounce off the 89 sma.
4Hr - bounce off the 21 ema.
MACD confirmation on both 1hr and 4hr.
With the trend (price above the 89 sma on the 4 hr.)

Entered at 1.3188.
Exited at 1.3218.

30 pips.

Jim
Jim,
1. Can you tell us on 1-Hr. chart, what MACD signal gave you confirmation.
2. Also please tell us what prompted you to take profit and exit at 3218.
Thanks.
-Chandra.
  • #1,491
  • Feb 28, 2007 5:17pm Feb 28, 2007 5:17pm
Quoting Phillip Nel
You are right. No syncronization.
See!, I told I understand yout 1-Hr. confirmation system.!!
Thanks.
-Chandra
  • #1,492
  • Feb 28, 2007 5:19pm Feb 28, 2007 5:19pm
Quoting Phillip Nel
Well done. You have seen it. Now with money management you can remain in the trade while taking some profit and re-enter the profit portion should the 4Hour MACD give a trend continuation signal.
Phillip, What was the signal given by MACD o 1hr chart in this case? I did not see any MACD signal in 1-Hr. char around that time!
I have asked this question to him.
-Chandra
  • #1,493
  • Feb 28, 2007 5:27pm Feb 28, 2007 5:27pm
Quoting hard1head1
Just a question in learning,
Why or why not would there be a trade on the EUR/JPY at least to the 21 ema. Any teachers out there?

Jim
As I see it in IBFX platform, there is a trade of RB to go long on the 2007-02-28; 0:00 GMT bar. Of course, it was a counter-trend bar with TP up tp 21 MA.
-Chandra
By the way, I did not come as a teacher to respond to your posting here even though I was in teching for many many years, many, many years back.
  • #1,494
  • Feb 28, 2007 5:34pm Feb 28, 2007 5:34pm
Chandra,

The only signal thatr I can see at that time would maybe be that zero line cross, however the 4 hour looks flat lined. Any help there?

jim
  • #1,495
  • Feb 28, 2007 5:36pm Feb 28, 2007 5:36pm
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.
Phillip, Don't answer this question. Your 1-Hr. support MACD answred it for me.
Thanks.
-Chandra
  • #1,496
  • Feb 28, 2007 6:04pm Feb 28, 2007 6:04pm
For those of you who read my yesterday's message it may be interesting to know that I repeat the same trick today. I hate to wait when the FX weather become favorable for H4 technique and get profit by using the same rules and principles on shorter time frames.
http://forexbarometer.com/graph/h1-macd-20070228.gif
Ben
  • #1,497
  • Feb 28, 2007 6:30pm Feb 28, 2007 6:30pm
Benf:

Is this your EA making these trades or are you entering on your own?
  • #1,498
  • Edited Mar 1, 2007 12:36am Feb 28, 2007 6:36pm | Edited Mar 1, 2007 12:36am
Quoting Chandra
Jim,
1. Can you tell us on 1-Hr. chart, what MACD signal gave you confirmation.
2. Also please tell us what prompted you to take profit and exit at 3218.
Thanks.
-Chandra.
On the 1hr MACD was trending up, along with the 4hr MACD (T.C.), along with the trend. Cool Stuff.
I realize that the 1hr MACD did not give a Phillip signal (T.C., R.B., etc.), but it was trending up so that was good enough for me. Those signals are more important to be inplace on the 4 hr. IMO. I could be wrong, I'm still learning.

I had a S/R at 3324 (Monthly open). I use Monthly, Weekly, Daily highs/lows and some times their open/close . Also, 30 pips sounded like a nice round number too.

see charts.
2nd chart should read "bounce 21 ema 4 hour"

Jim
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #1,499
  • Feb 28, 2007 6:39pm Feb 28, 2007 6:39pm
Is this your EA making these trades or are you entering on your own?

Yesterday I've heard a H1 alert and opened the long positions. Today I did the same but closed them prematurely when P/L fell back to break-even level and then re-entered manually. No, I don't trust the EA based on MACD technique enough to allow it to trade for me. Also I have a better luck by trading MACD ***/JPY pairs rather than EUR/USD. The latter doesn't work for me, though last year I traded exclusively it.
Ben
  • #1,500
  • Feb 28, 2007 6:46pm Feb 28, 2007 6:46pm
Quoting jarroo
On the 1hr MACD was trending up, along with the 4hr MACD (T.C.), along with the trend. Cool Stuff.
I realize that the 1hr MACD did not give a Phillip signal (T.C., R.B., etc.), but it was trending up so that was good enough for me. Those signals are more important to be inplace on the 4 hr. IMO. I could be wrong, I'm still learning.



Jim
If the 4hr is 'long' then you should be looking for long entries on the 1hr as well. I'd say you are correctomundo on that one...Don't fight the trend...roll with it baby.
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