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4 Hour Strategy (MACD)

  • #17,641
  • Nov 2, 2008 2:51am Nov 2, 2008 2:51am
Quoting booyu
Can you explain to me why doji with tail down to the 21ema was the biggest confirmation?? Thanks again Phillip!
Doji tail down to 21ema confirmed one of the guiding rules which says:WHEN PRICE BREAK THROUGH 21EMA(the long bullish green candle),IT COMES BACK TO IT(doji tail at 21ema) and then MOVES ON TO THE 89SMA(above).
  • #17,642
  • Nov 2, 2008 4:08am Nov 2, 2008 4:08am
Quoting letuak
Doji tail down to 21ema confirmed one of the guiding rules which says:WHEN PRICE BREAK THROUGH 21EMA(the long bullish green candle),IT COMES BACK TO IT(doji tail at 21ema) and then MOVES ON TO THE 89SMA(above).
Hi letuak or anyone,

I understand that part of the rules. Where the price action break through 21 tends to come back to 21 and then move on to 89. Which is now going to be uptrend. I dont understand how the spinner(suppose to represent unknown direction of the market direction) which is after the doji can help
to further confirmed?

regards
vincent
  • #17,643
  • Nov 2, 2008 4:46am Nov 2, 2008 4:46am
Possibility of E$ short at open on Sunday. 1 hr chart showing has major resistance on the 200 & 21 MA's and 89 just above. Also the past support at 1.2750 now acting as resistance. Price is just acting a bit strange as I would have thought price would have fallen alot harder on Friday afternoon, but 1.2670 held as some good support.
I will wait to see a TC on the MACD and get in with 2 lots, closing 1 very tight after 20-25 pips hoping we break straight thru 1.2670. Stops 1.2810.

GL all
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  • #17,644
  • Nov 2, 2008 4:49am Nov 2, 2008 4:49am
4hr chart also, price has the 21 as resistance again and the previous trend line above. Just looks as if price want to fall again to 1.24.

GL

B
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  • #17,645
  • Nov 2, 2008 5:24am Nov 2, 2008 5:24am
Quoting vincentlim
Hi letuak or anyone,

I understand that part of the rules. Where the price action break through 21 tends to come back to 21 and then move on to 89. Which is now going to be uptrend. I dont understand how the spinner(suppose to represent unknown direction of the market direction) which is after the doji can help
to further confirmed?

regards
vincent
hi vincent,
that spinner was confirmation of bear preasure fail.Together with the rule when the trend is changing (price action break through 21 to 89 and then comes back to 21) it increased probability of trade.But donīt forget , we are still in down trend as for price is under 89.
  • #17,646
  • Nov 2, 2008 8:34am Nov 2, 2008 8:34am
Quoting vincentlim
Hi letuak or anyone,

I understand that part of the rules. Where the price action break through 21 tends to come back to 21 and then move on to 89. Which is now going to be uptrend. I dont understand how the spinner(suppose to represent unknown direction of the market direction) which is after the doji can help
to further confirmed?

regards
vincent
A spinner after a nice run allways shows indecision as to the continuation of the current move which could be a good signal if confirmed by other candles also indicating a possible halt like the doji we had just before the spinner. That makes it a high probability trade if it is in flow with the rhythm like we had. Price went above the 21ema, then pulled back showing indecision to take it below the 21ema therefore it was a high probability trade according to the rules back to the 89sma. Only my opinion.
  • #17,647
  • Nov 3, 2008 12:20am Nov 3, 2008 12:20am
hey everyone just started paper trading today on the eur/usd and gbp/usd pairs with 3 from 3 so far

just curious if anyone could help me with the macd levels... i downloaded the coloured macd indicator thing that someone put together but my prices are to 5 decimals instead of 4 ie 1.62455 instead of 1.6245.... i think that may be throwing the levels off because they are very tiny (practically on the 0)...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd240.gif Size: 17 KB
Grabbing the bull by the horns!
  • #17,648
  • Nov 3, 2008 12:35am Nov 3, 2008 12:35am
I have been using this strategy on my demo account and it has produced outstanding results. I have just gone life and I can see life and demo is not really the same thing because of emotion. I have made some losses but that is because I let my emotion carry me away, not that the strategy doesn't work. I want to say a big thank you to phillip for sharing this strategy:. I'll be posting the my success soon.
  • #17,649
  • Nov 3, 2008 12:44am Nov 3, 2008 12:44am
Quoting whitegoodman
hey everyone just started paper trading today on the eur/usd and gbp/usd pairs with 3 from 3 so far

just curious if anyone could help me with the macd levels... i downloaded the coloured macd indicator thing that someone put together but my prices are to 5 decimals instead of 4 ie 1.62455 instead of 1.6245.... i think that may be throwing the levels off because they are very tiny (practically on the 0)...
Hi,
try visiting this site for some information on this strategy:www.fxtradeblog.com
Macd coloured decimal will work for ur 5 decimal platform, i have provided the indicator for u. enjoy
Happy pipping
Attached File(s)
File Type: mq4 MACDColoredv102decimal.mq4   6 KB | 543 downloads
  • #17,650
  • Nov 3, 2008 12:52am Nov 3, 2008 12:52am
Quoting whitegoodman
hey everyone just started paper trading today on the eur/usd and gbp/usd pairs with 3 from 3 so far

just curious if anyone could help me with the macd levels... i downloaded the coloured macd indicator thing that someone put together but my prices are to 5 decimals instead of 4 ie 1.62455 instead of 1.6245.... i think that may be throwing the levels off because they are very tiny (practically on the 0)...

http://www.fxtradeblog.com/tools.html#indicators

Under the Helpful Indicators section click on the second icon.
  • #17,651
  • Nov 3, 2008 1:05am Nov 3, 2008 1:05am
thankyou boys and girls...

as a wise man once said...

"There's no reason we need to be shackled by the strictures of the employee-employer relationship. Unless you're into that sort of thing. In which case, I got some shackles in the back. I'm just kidding. But seriously, I've got 'em."
Grabbing the bull by the horns!
  • #17,652
  • Nov 3, 2008 1:49am Nov 3, 2008 1:49am
hmmm seems like the difference was that i had dowloaded version 3 instead of version 2... cheers


i still see it on the 4 hour timeframe as massively outside the 45 and 30 bars tho like 200ish either side of 0... on the 1 hour is seems good...


jsut the volatility? or is my levels still off?
Grabbing the bull by the horns!
  • #17,653
  • Nov 3, 2008 1:52am Nov 3, 2008 1:52am
Its the volatility. If you scroll back a couple of months you'll see that the levels fit a lot better

Quoting whitegoodman
hmmm seems like the difference was that i had dowloaded version 3 instead of version 2... cheers


i still see it on the 4 hour timeframe as massively outside the 45 and 30 bars tho like 200ish either side of 0... on the 1 hour is seems good...


jsut the volatility? or is my levels still off?
  • #17,654
  • Nov 3, 2008 3:02am Nov 3, 2008 3:02am
Quoting Phillip Nel
A spinner after a nice run allways shows indecision as to the continuation of the current move which could be a good signal if confirmed by other candles also indicating a possible halt like the doji we had just before the spinner. That makes it a high probability trade if it is in flow with the rhythm like we had. Price went above the 21ema, then pulled back showing indecision to take it below the 21ema therefore it was a high probability trade according to the rules back to the 89sma. Only my opinion.
can you help me to check if this is the same as previous one? the purple rectangle which is spinner and the green rectangle which is spinner too,and it came out 21ema as well..so for this situation,how do we explain? is this the same explanation?
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  • #17,655
  • Nov 3, 2008 3:31am Nov 3, 2008 3:31am
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4h macd.gif Size: 27 KB
  • #17,656
  • Nov 3, 2008 4:12am Nov 3, 2008 4:12am
Quoting booyu
can you help me to check if this is the same as previous one? the purple rectangle which is spinner and the green rectangle which is spinner too,and it came out 21ema as well..so for this situation,how do we explain? is this the same explanation?

to booyu ,

can u share the indicators in ur chart and explain how to use it ?
  • #17,657
  • Nov 3, 2008 5:23am Nov 3, 2008 5:23am
Quoting ssq
Attachment
Please can u please post the indicator that gives writes the name of the signal on MACD.
thank you
  • #17,658
  • Nov 3, 2008 5:46am Nov 3, 2008 5:46am
Quoting Cinema007
to booyu ,

can u share the indicators in ur chart and explain how to use it ?
oh ya sure,i'm glad to do that..for me,i'm using exactly same as 4H MACD strategy,which are macd and the ema sma lines.Meanwhile,i have using the fibonnaci pivot indicator to plot the suport and resistance lines.

Anyway,i upload my indicator to you,you can download and use it.
Attached File(s)
File Type: ex4 #Signal_Bars_v7.ex4   43 KB | 707 downloads
File Type: mq4 Fibonacci Pivots.mq4   5 KB | 675 downloads
File Type: mq4 MACD_Colored_v105.mq4   20 KB | 867 downloads
  • #17,659
  • Nov 3, 2008 8:14am Nov 3, 2008 8:14am
Watching the Yen for a probable move to the upside. I like this chart better than the EU right now nd with the $ strengthening...a few news bites out later so we'll see...
Attached Image
  • #17,660
  • Nov 3, 2008 10:11am Nov 3, 2008 10:11am
Palmer, thank you for your insight.

Could you briefly explain why you like the current look of the USDJPY chart better than the EURUSD?
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