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4 Hour Strategy (MACD)

  • #1,901
  • Edited 1:27pm Mar 6, 2007 1:16pm | Edited 1:27pm
Quoting Palmer
Everything looks 'stuck' right now...

I looked at 2006 for the first Sun/Mon of the month and all months but July, Aug, and Nov had very large runs during or a few bars after the 00:00 candle. BUT, there's always a BUT, some of these large runs started against the trend; price was above the 89 and then tanked to the short side. You just never know when it'll happen. But, with Phillip's method there is ample time to jump in and have a 'good day'. If I can remember, I'll post a new Sun/Mon reminder for April. I can't post this chart because it only squishes so much. This may be a result of fund managers buying around the first of the month or something to that affect ( or effect?). Either way, it looks like it should at least have 'post it note' status...

zzzzzzzzzzzzzzzzzzzzzzzz


Good news always leaks out and the big guys takes advantage of it and the price climb steadely but bad news if it happens over weekend catches everybody and the price goes like a rocket. I know of someone who put in an order for Sunday/Monday against the trend 100 pips away just for the really bad news. Does not get it often but once a year can bring 300-500 pips.
  • #1,902
  • Mar 6, 2007 1:26pm Mar 6, 2007 1:26pm
I created new version of MACD_Colored indicator in this thread:
http://www.forexfactory.com/showthread.php?t=20349
  • #1,903
  • Mar 6, 2007 1:43pm Mar 6, 2007 1:43pm
Quoting Phillip Nel
Good news always leaks out and the big guys takes advantage of it and the price climb steadely but bad news if it happens over weekend catches everybody and the price goes like a rocket. I know of someone who put in an order for Sunday/Monday against the trend 100 pips away just for the really bad news. Does not get it often but once a year can bring 300-500 pips.
Wow, that makes the trading decision really easy...all the same, think I'll stick to the Phillip Nel 4 hour system! (much more reliable)
  • #1,904
  • Mar 6, 2007 2:02pm Mar 6, 2007 2:02pm
Thanks for the feedback everyone.

I've realised it wasn't really a genuine trade as per the rules, because I took the signal on the 1H, hoping that it would work out on the 4H....plus the mis-understanding of the Inside Top/Bottom thing.

I forced the trade because I wanted to make one work.

Must learn to wait and be patient...

Cheers
Enter Signature
  • #1,905
  • Mar 6, 2007 2:03pm Mar 6, 2007 2:03pm
Hmmmm...Euro$ moving up a little...
  • #1,906
  • Edited 2:04pm Mar 6, 2007 2:04pm | Edited 2:04pm
By the way, the trade went to +13 and I'd read a bit of feedback at this point, realised I jumped the gun, and set my SL to BE, which was hit a little later.

No loss, No gain, but learnt to be more patient.
Enter Signature
  • #1,907
  • Mar 6, 2007 2:21pm Mar 6, 2007 2:21pm
Hey all,

Im up 19 pips on the RB counter, Hopin it goes to 3168 but will settle for 89 EMA.

J
  • #1,908
  • Mar 6, 2007 2:25pm Mar 6, 2007 2:25pm
Quoting hard1head1
Hey all,

Im up 19 pips on the RB counter, Hopin it goes to 3168 but will settle for 89 EMA.

J
You meant the 89 SMA, right?

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,909
  • Mar 6, 2007 2:42pm Mar 6, 2007 2:42pm
Thanks for the correction, Sorry. Man, I missed the GBP, however. when they get where their going and we get an RT we gonna make us some pips!!!
J
  • #1,910
  • Mar 6, 2007 2:43pm Mar 6, 2007 2:43pm
Quoting irusoh
I created new version of MACD_Colored indicator in this thread:
http://www.forexfactory.com/showthread.php?t=20349

Just curious what's new about it?
  • #1,911
  • Mar 6, 2007 3:06pm Mar 6, 2007 3:06pm
Quoting irusoh
I created new version of MACD_Colored indicator in this thread:
http://www.forexfactory.com/showthread.php?t=20349
I just uploaded a corrected version. The old one was printing some debugging messages in the expert log. Get from the first post.

http://www.forexfactory.com/showthread.php?t=20349
  • #1,912
  • Mar 6, 2007 3:09pm Mar 6, 2007 3:09pm
Quoting cologg
Thanks for the feedback everyone.

I've realised it wasn't really a genuine trade as per the rules, because I took the signal on the 1H, hoping that it would work out on the 4H....plus the mis-understanding of the Inside Top/Bottom thing.

I forced the trade because I wanted to make one work.

Must learn to wait and be patient...

Cheers
Hiya Colin,

Did you trade this on a demo?

The hardest part about trading is the waiting (think Tom Petty here)....seriously. Don't try to force one to work. If you are forcing and have to have it, it probably isn't going to work out. Make a plan (like you did) and stick to it. That's the hard part.

I'm just now learning to be patient with the signals. & the funniest part is I have no patience w/the trade when it's open (I rush it). Been backtesting today and that was my AHA. These trades take time to enter and time to develop. Just Practice, practice, practice!

You did great today! & you'll be even greater tomorrow!!
  • #1,913
  • Mar 6, 2007 3:11pm Mar 6, 2007 3:11pm
Quoting cologg
By the way, the trade went to +13 and I'd read a bit of feedback at this point, realised I jumped the gun, and set my SL to BE, which was hit a little later.

No loss, No gain, but learnt to be more patient.
Now that was truly an excellent move!
  • #1,914
  • Mar 6, 2007 3:11pm Mar 6, 2007 3:11pm
This is a 4 hour chart of the GBP/USD. It has managed to pull back up into the channel it was in. I don't believe it will come all the way back up, though.

J
Attached Image
  • #1,915
  • Edited 3:16pm Mar 6, 2007 3:16pm | Edited 3:16pm
Quoting jarroo
You meant the 89 SMA, right?

Jim
Are you trading the 1 hour? Because it has to go through the 21 EMA (on 4 hour) first (1.9351)....

Nice job on your pipage!!
  • #1,916
  • Mar 6, 2007 3:58pm Mar 6, 2007 3:58pm
Quoting irusoh
I just uploaded a corrected version. The old one was printing some debugging messages in the expert log. Get from the first post.

http://www.forexfactory.com/showthread.php?t=20349
I just uploaded corrected version AGAIN
Sorry for reposting. Apparently EMA need the whole price array to recalculate itslef corretly.
Get It from the first post above link.
  • #1,917
  • Mar 6, 2007 4:02pm Mar 6, 2007 4:02pm
Hi,

Sorry for my ignorance, can you point me in the right to direction to load this on MT4?
  • #1,918
  • Mar 6, 2007 4:05pm Mar 6, 2007 4:05pm
Quoting pips4uandme
Are you trading the 1 hour? Because it has to go through the 21 EMA (on 4 hour) first (1.9351)....

Nice job on your pipage!!

Yeah, I was just pointing out the he mistakingly put 89 Ema instead of Sma. He was refering to the Euro. But your right, pips, on both pairs (the Euro and Pound). Price may reach the 21 ema on the 4 hour and continue or we will be looking for a MACD Trend Continuation (short) signal on both pairs.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,919
  • Mar 6, 2007 4:24pm Mar 6, 2007 4:24pm
Yes, your right, that 21 goes without question. I am in front of my computer and will pull it if I have to with the slightest inkling of a turn.

J
  • #1,920
  • Mar 6, 2007 4:28pm Mar 6, 2007 4:28pm
But I still think they got a little gas in the tank, will be watching the 1 hr for a turn, It has blown through the 23.6 % Fib and I may look to pull it at 38% fib. But you got to remember, these 2 pairs ( GBP & EUR ) came down a bunch.

J
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