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4 Hour Strategy (MACD)

  • #1,561
  • Mar 1, 2007 2:21pm Mar 1, 2007 2:21pm
Quoting Palmer
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.

Nice post!

(I like the zenlike part about seeing the answers best! (or based on your tagline, Yodalike..hehe)
  • #1,562
  • Mar 1, 2007 2:28pm Mar 1, 2007 2:28pm
Quoting alcastro
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
Hi Alcastro (don't be sad faced),


Phillip is going to concentrate on his trading for a change! Isn't that cool? He'll still be with us, and is going to provide MP3 for us when needed (daily). In the MP3, Phillip said for us to continue answering each others questions and he would "jump in" and correct anything off base.

Can't even imagine how much time it takes to answer each of our questions/posts. Put a job outside the home, and full time trading...when do you sleep and eat???? Yikes!

Hope your having fun a work! Today was a crazy choppy day in the market.

Pips
  • #1,563
  • Mar 1, 2007 2:29pm Mar 1, 2007 2:29pm
I saw that on the 1 hour as a 'pullback' or a breather on the 4 hr. Yes, The Force is strong with this thread....
  • #1,564
  • Mar 1, 2007 2:32pm Mar 1, 2007 2:32pm
I want "cha-ching!"

Nice trade, Palmer!!

ps....re:the force...didn't even notice the avatar...oh my I must pay more attention! How can I trade well and be with the force if I can't see????? EEEK!

  • #1,565
  • Mar 1, 2007 2:44pm Mar 1, 2007 2:44pm
Hey Chandra!

Don't worry, Phillip's not abandoning us; he's just taking more time to do what we get to do undisturbed -- Focus on his trading and equity curve!

There are lots of very good, knowledgeable people on this thread (including yourself). Trust in what you have learned this far and apply it w/out questioning the master each time. We are like children who are learning to ride a bike. Our parents can only hold on so long then they must let go and free the child, as well as themselves. The child may fall and may get a few scratches, but over time, that is how he/she learns balance and is able to ride a bike forever on his/her own. Trust in yourself, apply what you've learned and see what happens.

pippy
  • #1,566
  • Mar 1, 2007 3:38pm Mar 1, 2007 3:38pm
Phil, just has 1 question does this constitute a good sell signal?

Attached Image
  • #1,567
  • Mar 1, 2007 5:36pm Mar 1, 2007 5:36pm
[quote=pips4uandme;232231]Hey Chandra!

Don't worry, Phillip's not abandoning us; he's just taking more time to do what we get to do undisturbed -- Focus on his trading and equity curve!

There are lots of very good, knowledgeable people on this thread

Phillip, I can't thank you enough for your generous and giving nature to do all this for us, and the excellent group of disciples that you have created in this forum that are so willing to help people like myself. Sucess for me is having the privledge of being a part of this great group, even if i never get any pips. Best to you and your lion and i look forward to your future posts.
O'Zeeke
  • #1,568
  • Mar 1, 2007 5:43pm Mar 1, 2007 5:43pm
Quoting pips4uandme
LOL!!!! You are sooooooo right!!!!!!!!

Thanks for the laugh today I'm ready to get spoiled again in March!!!!

Happy trading!!!!!
Yeah me too!
I had a perfect record until yesterday!
If I had just followed Phill's system to the letter I would be up over 200pips this week alone!
But NOOOOO!! I had to get cute! No discipline on stop loss on one trade got stopped out. All I had to do was leave it alone!
And got stopped out on the eurusd today. Even though I saw the head and shoulders on the 4hr and the TC on the 1 hr. I went against it because it was a counter trend. In Phil's examples, there were lots of profitable counter trend trades.
JUST STICK TO THE PLAN!!
he he he
I'm almost glad in a way because I was getting a little over confident. Learned alot this week on what not to do.
Thanks Phil and everyone here.
  • #1,569
  • Mar 1, 2007 5:45pm Mar 1, 2007 5:45pm
enoc2g: Having a hard time seeing your chart. The clarity is kinda bad..can you clean that up a little???

pips4uandme: Ah, you noticed my Johnnie Walker avatar...good stuff...
  • #1,570
  • Mar 1, 2007 5:47pm Mar 1, 2007 5:47pm
smnitro1:

Losses are good, they're a reminder that we don't own the market. Discipline can just be as hard as trading. I'm lucky, I'm too ugly to even try to be cute.
  • #1,571
  • Mar 1, 2007 6:40pm Mar 1, 2007 6:40pm
A few things to keep an eye on here: EURUSD

The 1 hr 'may' be setting up with some bullish divergence in the MACD, blue squares. Keep an eye on the price action, there's still a few bars to go. IF this happens, it looks like the price action would bounce up off the trendline on the 4hr and may result in a green MACD bar. Just thinking ahead a little folks...
Attached Images
  • #1,572
  • Mar 1, 2007 8:52pm Mar 1, 2007 8:52pm
Quoting Palmer
A few things to keep an eye on here: EURUSD

The 1 hr 'may' be setting up with some bullish divergence in the MACD, blue squares. Keep an eye on the price action, there's still a few bars to go. IF this happens, it looks like the price action would bounce up off the trendline on the 4hr and may result in a green MACD bar. Just thinking ahead a little folks...
Good eye Palmer.
1hr show a TC, a cross through the 89 and might test the 21 again.
Let us know if you pull the trigger.
  • #1,573
  • Mar 1, 2007 9:00pm Mar 1, 2007 9:00pm
Ben,
Hi Ben,
Here is a chart with your indicator fxb_MACD-ind.
Please tell me why there is no TC down arrow on the second bar from right? (green bar)
Thanks.
-Chandra
I have also asked the name of the signal E in your earlier chart.
Thanks.
-Chandra
Attached Image
  • #1,574
  • Edited 9:33pm Mar 1, 2007 9:01pm | Edited 9:33pm
I may be on vacation but my mind is not always free from the market.

I long ago stopped measuring the price movement in linear dimensions. The price itself is a painter if you allow me to be a trifle poetic. I am now watching USD/JPY pair and read about ../yen jittery whipsaws in the last days. Why are they whipsaws, why do they call this a choppy market? I keep an open mind and I know that the price is always trying to suprise us. Just see the chart. I just post it for the sake of thought-provoking and who knows maybe someone can handsomely gain from this juxtaposition of signals because the pair is still in uptrend on a monthly chart. Sorry, if this distracted from MACD trade. Yours, Tamkras.

EDIT: As a disciplined follower of MACD 4 HR system I can see a buy signal as a trend continuation, to cut the story short (sorry, long).
Attached Image
  • #1,575
  • Mar 1, 2007 9:03pm Mar 1, 2007 9:03pm
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.
Also, why there is not TC down signal on the bar next to the signal F, please.
Thanks.
-Chandra
  • #1,576
  • Mar 1, 2007 10:16pm Mar 1, 2007 10:16pm
Anyone,

Entry Long 155.08
st 154.71
tp1 155.41 (MA 8)
tp2 156.15 (ma 365)

Round bottom and Higher Low for a trend reversal signal on Macd.
Also a doji.

Attached Image


Any input or analysis would be helpful. I am trying to understand the good trades and signals, so if I am way off here please help me.

Thanks,
Nanette
  • #1,577
  • Mar 1, 2007 10:16pm Mar 1, 2007 10:16pm
Today I will not be able to trade. I do not have access to my laptop where i have all my charts. So I am using my son's computer to read the posts in the forum and listen to Phillip's mp3's.

Lets not let the energy from this forum go!!!. I have been in other forums and have seen the energy diluted. But those forums didn't have Phillip or all the other people that are willing to share their experience for the benefit of all of us. So lets keep on pippin!!!!
  • #1,578
  • Mar 1, 2007 10:26pm Mar 1, 2007 10:26pm
Quoting 5forMe
Anyone,

Entry Long 155.08
st 154.71
tp1 155.41 (MA 8)
tp2 156.15 (ma 365)

Round bottom and Higher Low for a trend reversal signal on Macd.
Also a doji.
Excellent trade
  • #1,579
  • Mar 1, 2007 10:53pm Mar 1, 2007 10:53pm
Quoting 5forMe
Anyone,

Entry Long 155.08
st 154.71
tp1 155.41 (MA 8)
tp2 156.15 (ma 365)

Round bottom and Higher Low for a trend reversal signal on Macd.
Also a doji.

Any input or analysis would be helpful. I am trying to understand the good trades and signals, so if I am way off here please help me.

Thanks,
Nanette

The price is moving against me at the moment..... Should I move my stop down and out of the way a little? Like at 154.50, I would still have good r:r to my tp2....? (I am still trading on a demo, but I want to treat it as real $$$)

Nanette
  • #1,580
  • Mar 1, 2007 11:07pm Mar 1, 2007 11:07pm
Quoting 5forMe
Anyone,

Entry Long 155.08
st 154.71
tp1 155.41 (MA 8)
tp2 156.15 (ma 365)

Round bottom and Higher Low for a trend reversal signal on Macd.
Also a doji.

Attachment

Any input or analysis would be helpful. I am trying to understand the good trades and signals, so if I am way off here please help me.

Thanks,
Nanette
Could be a nice setup for a trend reversal. Not only a rounded top but also a Double bottom low on MACD. tp1 and tp2 looks good.

Good job.

Jim
Indicators show the past. Price Action "Indicates" the future.
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