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4 Hour Strategy Macd+other Indicator 21 replies

average true range for 1 hour and 4 hour charts 2 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)
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4 Hour Strategy (MACD)

Quoting Laja1881
Boy! I did not know that the wick of that candle have any weight to it and that is why i'm sitting with some losses now. i thought i had a clear trendline break with the break of the first, where the check mark is. Anyway, its part of the game and we are all learning.
but on the 1hr that point signified a Clear Railway track,,,,Food for thought

Info
Attached Image (click to enlarge)
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Attached File(s)
File Type: zip EurUsd21Nov.zip   825 KB | 872 downloads
Quoting Phillip Nel
Info
Thank you so much Phillip. guess i was carried away by emotion. It's all lessons learnt on the road to becoming a better trader. Looking forward to a more pip-able week. cheers
Quoting Laja1881
Thank you so much Phillip. guess i was carried away by emotion. It's all lessons learnt on the road to becoming a better trader. Looking forward to a more pip-able week. cheers
Lets hope next week is good.
Phillip, thank you so much for the break out video.

WOW! Thank you again!
anybody post the written copy of post #17961, "breakout trade", please?
Quoting Phillip Nel
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Phillip,

Thank you very much for you explanation of trading the breakout.

I have a question about the optimum point to enter the trade. You mention that when the breakout occurs on the 4 hour chart that you then switch to the 1 hour to watch for the pullback before entering. But at what point do you enter?

I guess there are two options:

1. to enter when the price reaches the breakout level.
2. at the completion of the 1 hour retrace candle.

If it is number two then the chance is that price will have retraced, bounced off the breakout level and could then have moved further down and the trade could be missed.

However, if the entry is number 1 how would we know that price will respect the breakout level and not continue upwards?

I hope I have explained my question. Thanks once again for your help.
James The Beekeeper
Phillip, thank you for the brilliant explanation of how to manage this type of setups! The experience or trading wisdom which is felt in your explanations, makes me feel more confident (besides learning) when the things on the market make me feel unsure in the way all this should be done. THanks once again!
Quoting edeyj999
Phillip,

Thank you very much for you explanation of trading the breakout.

I have a question about the optimum point to enter the trade. You mention that when the breakout occurs on the 4 hour chart that you then switch to the 1 hour to watch for the pullback before entering. But at what point do you enter?

I guess there are two options:

1. to enter when the price reaches the breakout level.
2. at the completion of the 1 hour retrace candle.

If it is number two then the chance is that price will have retraced, bounced off the breakout...
The aim with a breakout trade is to enter on the close of the 4H candle if the MACD confirms with a TC,ZB or BOZ. If no MACD confirmation then wait for a pullback to the breakout level either on the 4H, 1H or 30min and enter on the candle that moves away from the breakoutlevel. I very seldom use the 30min but sometimes it comes in handy. I use mostly the 1H pullback and then enter on the 1H candle that moves away from the breakoutlevel provided that it is a nice strong move away. I enter on the close of that candle
Attached File(s)
File Type: pdf Breakout trading 1.pdf   161 KB | 1,339 downloads
Hello Phillip,

Am a great admirer of ur work her, although i dont trade this method and i dont intend to but i must tell u that u have put so much effort in this thread and its undoubtedly that traders would be successful trading it.

I am happy to see nice ppl like u giving out freely.

You re blessed, this is the best indicator base system i have seen on FF

Mike
Quoting Phillip Nel
The aim with a breakout trade is to enter on the close of the 4H candle if the MACD confirms with a TC,ZB or BOZ. If no MACD confirmation then wait for a pullback to the breakout level either on the 4H, 1H or 30min and enter on the candle that moves away from the breakoutlevel. I very seldom use the 30min but sometimes it comes in handy. I use mostly the 1H pullback and then enter on the 1H candle that moves away from the breakoutlevel provided that it is a nice strong move away. I enter on the close of that candle
I have a question about the trade on page 7. Do you consider this an extra strong setup? You dont seem to care about the fact that the 89 is very close to that entry. Is there situations when the setup is to good to miss and its worth taking the risk of beeing stopped at a MA?
I just took this one.

Entry 95.18

Stop 95.64

Profit1 94.53

Profit2 93.63

Nice move away from the trendline, engulfing candle and TC pattern on MACD. Lets see how this works out.
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Stopped out, unfortunatley. Was it a bad trade?
Quoting ekling
Stopped out, unfortunatley. Was it a bad trade?
maybe because of the signal candle being a hammer
Quoting ekling
Stopped out, unfortunatley. Was it a bad trade?
My 4 hour chart is a little diferent, I would say that the trade just did not work (we can not win all trades), however there are some interesting things in my 1 hour chart.
I hope it helps.
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http://www.forexfactory.com/attachme...1&d=1227535726



short at 2636
stoploss at 2655
first profit at about 2600
second at about 2580

at last take profit with 39 pips
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Quoting ekling
Stopped out, unfortunatley. Was it a bad trade?
Looks like a good trade. On my chart it is an Inside bar, so I would have waited to play the break to the short side of the Inside bar.

The Inside bar didn't break on my chart, so the trade was never activated.
Quoting mkain
My 4 hour chart is a little diferent, I would say that the trade just did not work (we can not win all trades), however there are some interesting things in my 1 hour chart.
I hope it helps.
Yeah your chart look a little bit different. I thought that it was good confirmation on the 4 hour, by bouncing of the channel trendline with a big strong bearish move, then there was this engulfing candle and it closed below both 8 and 21 MA + Macd TC pattern which is one of the strongest.The higher lows on the 1 hour was expected because price bounced from the bottom channel trendline and started moving up again until it once more bounced on the top trendline. I anticipated a move down to the bottom of the channel, instead it went back to try the upper trendline again. Well, i had my stop loss in place so no real harm done. Thank you for your thoughts!
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Quoting Cinema007
[IMG]http://www.forexfactory.com
short at 2636
stoploss at 2655
first profit at about 2600
second at about 2580

at last take profit with 39 pips
Isn't this for 5 min Intraday?
Quoting mkain
Isn't this for 5 min Intraday?

yes,, it is 5mins charts
Quoting ekling
I have a question about the trade on page 7. Do you consider this an extra strong setup? You dont seem to care about the fact that the 89 is very close to that entry. Is there situations when the setup is to good to miss and its worth taking the risk of beeing stopped at a MA?
When the area before the breakout has built up a lot of emotion(like the one on EurUsd we just had) the breakout is sometimes huge and quick, so it is worth it to take the odds on.
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