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4 Hour Strategy (MACD)

  • #1,541
  • Mar 1, 2007 11:13am Mar 1, 2007 11:13am
Quoting Golfer
Took first half of profit @1.3202 at 15H03 GMT (21EMA). Moved stop loss to breakeven. Aim for 89MA now but I am not sure it will get there?

Any opinions?

Willemmmmmmmmmmm

It hit the trendline from 5/12/06 through 02/01/07 and bounc off
  • #1,542
  • Mar 1, 2007 11:14am Mar 1, 2007 11:14am
Quoting 5forMe
Would anyone mind showing me where their trendlines are drawn on the CAD. Just curious.

thanks.
Here's the 4 hour chart
Attached Image
  • #1,543
  • Mar 1, 2007 11:17am Mar 1, 2007 11:17am
and a short term on daily:

These were done 2 days ago...
Attached Image
  • #1,544
  • Mar 1, 2007 11:20am Mar 1, 2007 11:20am
Quoting Phillip Nel
Some info
Phillip,
I went through your latest MP3.
Please keep your involvement in the forum. We still need you here. We will be lost otherwise. MP3 is ok. You can pick our postings and answer them through MP3. It saves your time. But do not abandon us yet. We are at the crucial point of making it or breaking it.

As you mentioned, you can post your trades on the forum with MP3 comments. It will be very educative to us.

So, stay with us for some more time. I am sure it is the wish of all others too.
Thank you.
-Chandra
  • #1,545
  • Edited 11:29am Mar 1, 2007 11:24am | Edited 11:29am
Quoting Golfer
Took first half of profit @1.3202 at 15H03 GMT (21EMA). Moved stop loss to breakeven. Aim for 89MA now but I am not sure it will get there?

Any opinions?

Willemmmmmmmmmmm
Hiya!

No idea....but it is back above a support point at 1.3173... guess you could watch signals and price action around the 89 on the hourly and around 21 on 4 hour....

What a great trade!!!! Super Job

ps. this was caught in between post times....didn't know you had already gotten an answer from Phillip...I feel a bit silly...: )
  • #1,546
  • Mar 1, 2007 11:27am Mar 1, 2007 11:27am
Quoting Phillip Nel
It hit the trendline from 5/12/06 through 02/01/07 and bounc off
Phillip

Would it be possible to post the chart with the trendline so that I can have a look at it? I also have drawn a trendline on the 4h chart supported the latest candle bounch (1.3154) afterwards.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,547
  • Mar 1, 2007 11:36am Mar 1, 2007 11:36am
Quoting Golfer
Phillip

Would it be possible to post the chart with the trendline so that I can have a look at it? I also have drawn a trendline on the 4h chart supported the latest candle bounch (1.3154) afterwards.

Willem
a
Attached Image
  • #1,548
  • Mar 1, 2007 11:43am Mar 1, 2007 11:43am
Phillip,

May all your trades next week be great ones!
  • #1,549
  • Mar 1, 2007 11:46am Mar 1, 2007 11:46am
Quoting Phillip Nel
Some info

Great info Phillip. Thanks.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,550
  • Mar 1, 2007 11:50am Mar 1, 2007 11:50am
Quoting Phillip Nel
a
Phillip

Tx for the chart. It seems like I do look at a too short time frame for the trendlines. Longer time frame trendlines seems to be more strong R & S levels than short term. That is why I've asked you a week or two ago for your approach to trendlines - still struggling with it. That is why this website is so a supportive tool to use.

Tx for all your trouble - great system.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,551
  • Mar 1, 2007 11:57am Mar 1, 2007 11:57am
Quoting alcastro
I am doing ssomething that is an absolute no-no. But i have to leave for work and will not be able to follow the action.

I am opening a trade in the US/CAD, to the long side
Reasons:
1-My 4HR chart (which is only in its 1st hour) is showing a RT but the last candle is showing signs of morphing into a Trend Continuation.
2- The 1hr chart is showing a RB (very close to zero, so it could also be considered as a bounce from zero line). This would be a long signal confirming a long signal in the 4hr.
3- The current movement is counter-trend and it already bounced from the area inter MA's (8&21)
Why am I saying "don't do this"? Well, I should have waited for the 4 hr candle to draw a positive (green) line in the MACD histogram, and THEN confirm with the 1 hr. I am rushing this trade, and I am only doing it because I am paper-trading (again, another no-no because you should paper-trade as if it was with real money). But I have to leave and i want to see if it develops the way I think it will.

so: in @1.1688
s/l: 1.1655 (below 21MA)
t/p: 1.1730 (just below the yesterday high)

I hope all this no-no won't get me banned from this excellent forum, even though I know that Phillips will be roaring with huge dissapointment!!!

Great trade alcastro. The 365 ema on the 4 hour and 1 hour served as strong S/R. Nice. The 200 sma on the 4 hour may bounce you back down. If it doesn't . . . let it ride.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,552
  • Mar 1, 2007 12:10pm Mar 1, 2007 12:10pm
Quoting Benf
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.

Willem, it's a minor detail, but as I wrote before I don't trade EUR/USD on H1 charts. As to switching to the shorter than H4 time frames - I did this exactly for the same reason you did - too much losses (on H4). During this week I made about 180 pips on ***/JPY H1 signals, while a single H4 signal to trade long (RB) was false. I was trading on A, B, C and still going short since D arrow. There was no arrow at C point because MACD level was less than H1ThresholdLevel=0.0005, but a small RB is obvious. Six of seven (85.7%) signals were true (F was false). I will not provide another screenshot that shows what was my profit from D point to current time, because people may consider it as a boast. The secret is in the flexible use of any system, in applying a right tool at right time. IMHO H4 signal(s) are unsuitable for current market I'm trading now, though I consider the Phillip's H4 MACD theory as one of the best for pratical trading.
Probably, you trust too much to those arrows - they were added just for reference and depend much on indicator adjustment that has to be done for every pair individually. Use a common sense and accumulate the experience.
http://forexbarometer.com/graph/usd-jpy-070301.gif
P.S. It seems now the time for H4-ers to enter the game. Another hill for USD, EUR, GBP/JPY is in progress. As to me I've closed my shorts on those currencies and finish my trading week.
Good luck to all of you. Your ideas brought to me the hope and inspiration and this time I won.
Ben, In the above chart you posted, what is the name of the signal 'E'
Can you use your latest indicator and name the signals and post the chart again?
I have some tech issues on your indicator. I do not know how to copy and paste my chart on this forum. I want to discuss.
-Chandra
  • #1,553
  • Mar 1, 2007 12:29pm Mar 1, 2007 12:29pm
Phillip:

Just went through the MP3 file, thank you again. Sometimes you just have to let go of chains. Nice work on the doji's (shooting stars) on the EURUSD, especially when there is more than one next two each other. Either way: to everyone: it's a lot of work keeping up with a system or method that you have posted on a forum. It takes a lot of time and effort to keep things going and answer everything. Phillip has given us a great method to look at and STUDY. This is a very straightforward system to get through. I noticed a few things last night that I may have totally forgotten. Here is the 4hr EURUSD. The yellow dashed lined are drawn through the rounded MACD bottoms. Notice what the three shorter MA's are doing...There are at a confluence along with the RB's, they are close two each other along with the MACD formation. Yes, it is the price action that forms the RBs but notice the price action when the signal is given (green) on the MACD. Got it? Good. Now, the gray dashed lines: after the price action touches the 21 and bounces up, again look at the MACD signal (green), and the price action that follows. Easy pickens. Where to put the SL? Maybe a few pips below the candle before, no more or less. Study the previous charts. It's all there, if you can see the answers, that's even better.
Attached Image
  • #1,554
  • Mar 1, 2007 12:29pm Mar 1, 2007 12:29pm
Quoting Golfer
Phillip

Tx for the chart. It seems like I do look at a too short time frame for the trendlines. Longer time frame trendlines seems to be more strong R & S levels than short term. That is why I've asked you a week or two ago for your approach to trendlines - still struggling with it. That is why this website is so a supportive tool to use.

Tx for all your trouble - great system.

Willem
a
Attached File(s)
File Type: zip Drawing Trendlines.zip   777 KB | 1,730 downloads
File Type: pdf Drawing Trendlines.pdf   114 KB | 2,062 downloads
  • #1,555
  • Mar 1, 2007 12:42pm Mar 1, 2007 12:42pm
Quoting pips4uandme
Phillip,

May all your trades next week be great ones!
Thanks for all the best wishes for next week trading. May it be the same for you people. Will give MP3 every day.

God bless
  • #1,556
  • Mar 1, 2007 1:37pm Mar 1, 2007 1:37pm
Quoting Phillip Nel
a
Phillip

Tx for the pdf & mp3 files. I am going to save the files and look at it over the week-end carefully. I am still in the EUR/US trade - just because it is a demo trade. If it was live, I would have taken my profits.

I know, wrong way of think. Trade demo like a live trade.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,557
  • Mar 1, 2007 1:40pm Mar 1, 2007 1:40pm
Quoting Phillip Nel
Thanks for all the best wishes for next week trading. May it be the same for you people. Will give MP3 every day.

God bless

Phillip,
I am at work and cannot listen to your mp3's here...but it seems like something is going on?
What is happening next week?

Alcastro
  • #1,558
  • Mar 1, 2007 1:45pm Mar 1, 2007 1:45pm
Quoting Phillip Nel
a
Phillip, Your Trend Lines MP3 and the charts, just wondeful.
Believe me, if you keep us in this atmosphere for a little while longer, we will develop all your concepts as second nature. At present, we understand your points but those are not yet rubbed in to our grains. You stay with us for a while for us all to feel these concept as second nature.
As far I am concernd, I will go through all the postings, attacments and MP3s one more time from the begining. I will also go through each trade posted by others. I suggest others to revise the whole thing systematically from the begining. There is so much to know and remember.
Stay with us, Phillip.
Thank you.
-Chandra
  • #1,559
  • Mar 1, 2007 2:04pm Mar 1, 2007 2:04pm
Bounce off the 200 on the 1hr...cha-ching for 15.
Attached Image
  • #1,560
  • Edited 2:15pm Mar 1, 2007 2:14pm | Edited 2:15pm
Quoting Palmer
Bounce off the 200 on the 1hr...cha-ching for 15.
Well done Palmer.

Isn't that "cha-ching" sound the sweetest music to our forex-ears?
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