4 Hour Strategy (MACD) | Page 896 | 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)

  • #17,901
  • Nov 18, 2008 7:24pm Nov 18, 2008 7:24pm
Quoting time1300
Phillip, can you take a look at my chart and tell me why my candles are different than yours, I just can't put my fingers around it.

thank you

time: if you use a different broker than Phillip and the server time is different like GMT 0, -1, +2 , etc. than your candle will close at a different time and look different. You will get signals that Phillip (we) don't and vice versa...
  • #17,902
  • Edited 10:04pm Nov 18, 2008 8:42pm | Edited 10:04pm
GBP/USD trade at 2:00 GMT

Entry Price: 1.4942
S/L: 33 pips, 1.4975 (above last 1hour candle)

Closed 50% at 1.4905 for 37 pips @ 2:15gmt. Went to Breakeven adjusting S/L on 2nd half to 37 pips at 1.4979.

Edit: Gave it the chance to run but remaining 50% taken out at s/L. Total Profit: 0

Reason for taking trade:
4 Hour didn't give MACD signal, but the trendline I have seems to be acting as good resistance. Went to 1 Hour and saw the price forming a nice arch and the MACD giving a smooth TC signal. Also G/U has been in good rhythm recently.

Negatives:
No 4Hour MACD confirmation
Upcoming news

--------------------

Notes:
The bottom trendline on the 4 Hour is a weak T/L, but gives me a profit target #2 around 1.4800. I'll give it the chance to run and adjust my stop accordingly.

Philip, thank you aren't big enough words to express how I feel! I appreciate all the hardwork you've put in to help us newbie traders. I wish you many well deserved pips.

And many thanks to you Palmer. The site is fantastic! Keep up the good work.
Attached Image (click to enlarge)
Click to Enlarge Name: gu111808.jpg Size: 90 KB
  • #17,903
  • Edited 5:08am Nov 19, 2008 4:56am | Edited 5:08am
GBPUSD seems to be breaking up the resistance line with a TC on MACD.
Though SL is quite big ~120 pips to the low of the bar, and if to split it into (30+60), then even -60 pips is higher than broaken resistance (and retest is possible).

So I think to stay out and to watch for a possible retest of the resistance for possible Long.

Any thoughts?

Edit1:
Quote
13:00 GBP http://www.forexfactory.com/images/m...act_medium.gif CBI Industrial Order Expectations -38 | -41 | -39
Better actual results (-38) might haven't been something unexpected or even disappointed people, GU makes some retracement (~23.6% at the moment).
Attached Image
  • #17,904
  • Nov 19, 2008 5:07am Nov 19, 2008 5:07am
Quoting Yorik
GBPUSD seems to be breaking up the resistance line with a TC on MACD.
Though SL is quite big ~120 pips to the low of the bar, and if to split it into (30+60), then even -60 pips is higher than broaken resistance (and retest is possible).

So I think to stay out and to watch for a possible retest of the resistance for possible Long.

Any thoughts?
becarefull about the upper TL ,also eurusd is still in the triangle and a down breakout is very possible for eu,on that case a false breakout for gu is possible
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 20 KB
  • #17,905
  • Nov 19, 2008 6:22am Nov 19, 2008 6:22am
euro and yen coiled up like a snake..nothing there right now...
  • #17,906
  • Nov 19, 2008 6:47am Nov 19, 2008 6:47am
Quoting bshadroo
becarefull about the upper TL ,also eurusd is still in the triangle and a down breakout is very possible for eu,on that case a false breakout for gu is possible
Thanks for warning, though you see - how much may mean the way of drawing trendlines

By the way - on 5min there's an ascending triangle with 2 higher lows...
Attached Images
  • #17,907
  • Nov 19, 2008 7:02am Nov 19, 2008 7:02am
Quoting Yorik
Thanks for warning, though you see - how much may mean the way of drawing trendlines

By the way - on 5min there's an ascending triangle with 2 higher lows...
yes,drawing correct trendline is always a problem to me also ,when u draw it in H4 and then look in H1 ,it looks different and same story for daily and H4.i have red alot about drawing TL and finally now i reach to a point that i should draw a TL with more touchs and/or draw the TL with the first 2 points.it is usually better .forexample if u draw the TL in gu (below picture)from very high and using the first 2 points u'll have almost 5 touches .althogh the inner TL is broken but we have a stronger and main TL on the way
any other ideas are appreciated
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 23 KB
  • #17,908
  • Nov 19, 2008 7:06am Nov 19, 2008 7:06am
I'll wait for pullback in g/u breakout, e/u is still inside the triangle.
Let's see what happens...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chartgu2.gif Size: 25 KB
Click to Enlarge Name: charteu.gif Size: 25 KB
  • #17,909
  • Nov 19, 2008 7:07am Nov 19, 2008 7:07am
maybe the last try for the upper TL,will we see a breakout today ?(watching H1 closely)
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 23 KB
  • #17,910
  • Nov 19, 2008 7:26am Nov 19, 2008 7:26am
Hi bshadroo and others,

although I have been trading for serval years (now employed as a prop) and was active member of MoneyTec years ago, I watch closely mainly this thread. Man can have own strategy but learning process is heavily advanced when you watch others and "present&comment" different ideas. So I am not going to write about MACD system, but would like to share my experience in TLs.

Basically there are two options how to draw it:

1) H/L of last two biggest moves - this will give you maximum prices and these levels can be used as SL area. But most of the time its just a result of market dynamics (spikes, rollover positions, SL etc.)

2) O/C main moves - this is more precise, because it shows real trend (based on saying: Close price is the most important for most indicators) or S/R levels.

I recommend to use both. To draw full line as a main TL and dotted line as a filter or better to say "channel" with best enter/exit points. SLs should be a little far from this to avoid spikes for 5-10 pips.

See attached chart of actual EURUSD 4hr.

Anyway, keep up very good work, there few souls reading carefully every word of yours .

PS - I used to draw main TL/S/R on line charts with Close prices, but once you are more skilled, you can see it without switching chart type.



Quoting bshadroo
yes,drawing correct trendline is always a problem to me also ,when u draw it in H4 and then look in H1 ,it looks different and same story for daily and H4.i have red alot about drawing TL and finally now i reach to a point that i should draw a TL with more touchs and/or draw the TL with the first 2 points.it is usually better .forexample if u draw the TL in gu (below picture)from very high and using the first 2 points u'll have almost 5 touches .althogh the inner TL is broken but we have a stronger and main TL on the way
any other ideas are appreciated...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd4hr.gif Size: 33 KB
  • #17,911
  • Nov 19, 2008 8:23am Nov 19, 2008 8:23am
GU retraced to 38.2% (or ~40 pips) of signal bar and went up. Unfortunetely I'm sitting aside. Well, will be hoping for possible retracement to EMA21 on its way up.

2giotto - quite interesting! Something to think about. Thanks!
  • #17,912
  • Nov 19, 2008 8:42am Nov 19, 2008 8:42am
thx giotto
ok,i think i miss the eu breakout but the same thing is going to happend in usdchf ,i will watch it
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 19 KB
  • #17,913
  • Edited 9:28am Nov 19, 2008 9:09am | Edited 9:28am
mkain, I saw this trade too. Didnt trade it, but would like to ask you about best RRR (risk reward ratio) - how you put the SL on this? Did you use previous L (1.4936) or Phill's 50 pips / 30/60 method? Minimum SL was 36 pips to hold with the move. I'm curious if you survive this nice move...Anyone in the trade too?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd4hr.gif Size: 27 KB
  • #17,914
  • Nov 19, 2008 9:27am Nov 19, 2008 9:27am
Quoting giotto
mkain, I saw this trade too. Didnt trade it, but would like to ask you about best RRR (risk reward ratio) - how you put the SL on this? Did you use previous L (1.4936) or Phill's 50 pips / 30/60 method? Minimum SL was 36 pips to hold with the move. I'am curious if you survive this nice move...Anyone in too?
I just follow Phillip's advice: "For breakouts you can move to lower time frames as 15 min or 30 min", in this case 15 min looked much better because of bullish morning star close to the trendline with 40 pips as SL.
I hope it helps.
Attached Image (click to enlarge)
Click to Enlarge Name: chartgu.gif Size: 22 KB
  • #17,915
  • Nov 19, 2008 9:30am Nov 19, 2008 9:30am
That's what I thought. Thx - almost real time answer

Quoting mkain
I just follow Phillip's advice: "For breakouts you can move to lower time frames as 15 min or 30 min", in this case 15 min looked much better because of bullish morning star close to the trendline with 40 pips as SL.
I hope it helps.
  • #17,916
  • Nov 19, 2008 9:31am Nov 19, 2008 9:31am
Quoting giotto
mkain, I saw this trade too. Didnt trade it, but would like to ask you about best RRR (risk reward ratio) - how you put the SL on this? Did you use previous L (1.4936) or Phill's 50 pips / 30/60 method? Minimum SL was 36 pips to hold with the move. I'm curious if you survive this nice move...Anyone in the trade too?
I noticed that trade as well, the reason i did not take that trade was if you draw a upper trend line you will see it is very close to price and also I had a monthly trend line drawn which was close by as well, I saw a few resistant levels thus decided not to go in on the trade. but a very good macd signal given.
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 43 KB
Keeping Life Simple
  • #17,917
  • Nov 19, 2008 9:45am Nov 19, 2008 9:45am
Eur/usd is back in the triangle again, trend still is down, might have just been one of those volatile swings to fake people out with the news and I bet it did fake a lot of people out, as we are back in the triangle again. will be watching if it makes its way back down to the channel line and set up for another breakout out, this time to the bottom........ any suggestions on how you guys see it would be appreciated. I put a lot of emphasize on price action and the trend and the overall trend is still down.
Keeping Life Simple
  • #17,918
  • Nov 19, 2008 10:13am Nov 19, 2008 10:13am
Quoting time1300
Eur/usd is back in the triangle again, trend still is down, might have just been one of those volatile swings to fake people out with the news and I bet it did fake a lot of people out, as we are back in the triangle again. will be watching if it makes its way back down to the channel line and set up for another breakout out, this time to the bottom........ any suggestions on how you guys see it would be appreciated. I put a lot of emphasize on price action and the trend and the overall trend is still down.
yes ,it could be a daily tail ,im lucky to follow the rules and didnt enter usdchf .thx rules
  • #17,919
  • Nov 19, 2008 10:37am Nov 19, 2008 10:37am
I just want to double check, after we had some break out moves that then retraced strongly back into the consolidation area.

The breakout rule is that price will break out of the consolidation area, then come back and touch the 21, before moving in the same direction, correct?

If so, then on the GBPUSD, we had the break out, now it has pulled back to the 21, and we must look for a break away from this area before going long.

Is this correct?

For those trades that break the break out area and just keep going, do you guys normally miss most of these moves? Not a big deal to miss these moves, there will aways be some sort of pull back.
  • #17,920
  • Edited Nov 20, 2008 9:08am Nov 19, 2008 1:05pm | Edited Nov 20, 2008 9:08am
I normally dont trade this pair but the triangle got me interested and the ZBreak on MACD convinced me. It was a breakout with MACD signal confirmation.

Entry 96.34
Stoploss 96.94 (Will scale out in 30 and 60 pips)
TP after 30pips 50% and remainder on 30trailstop for the night as it is almost bedtime.

Edit 1
50% closed after 30pips. Remainder set at 30trailstop.

Edit 2
96.00 might be some support so to give the position a fair chance I have moved my stoploss to -30 on the remainder for a worst of breakeven

Edit 3
Closed remainder at 94.50

Total gain (30+184)/2=+107pips
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 22 KB
14 traders viewing now