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4 Hour Strategy (MACD)

  • #18,121
  • Dec 5, 2008 8:07am Dec 5, 2008 8:07am
Hit my profit target just before trend line I closed 70% and let the other run with tight stop loss which was taken out. I entered to be prepared if it did break out but it looks like it didn't and it's friday and I do not want to hold over the weekend on this volatile market. We are definitely in a triangle and will see a breakout by next week. The top brown trend line and the bottom blue trend lines. The moving averages are very congested which means we have to wait to clarify direction thus waiting for breakout trade.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd trade.gif Size: 47 KB
Keeping Life Simple
  • #18,122
  • Dec 5, 2008 8:42am Dec 5, 2008 8:42am
Quoting time1300
Hit my profit target just before trend line I closed 70% and let the other run with tight stop loss which was taken out. I entered to be prepared if it did break out but it looks like it didn't and it's friday and I do not want to hold over the weekend on this volatile market. We are definitely in a triangle and will see a breakout by next week. The top brown trend line and the bottom blue trend lines. The moving averages are very congested which means we have to wait to clarify direction thus waiting for breakout trade.
Yes, as you said. We will have to wait for a clear break.
  • #18,123
  • Dec 5, 2008 9:04am Dec 5, 2008 9:04am
i will wait last by next week for the clearness
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  • #18,124
  • Dec 5, 2008 9:10am Dec 5, 2008 9:10am
Quoting Yorik
I bought EURUSD in the morning on the TC from SMA200.
BUY 1.2782
SL 1.2735 (47 pips)
TP 0.5 x 1.28 (18 pips), 0.3 x 1.2840 (58 pips), 0.2 x 1.2960 (178), av.TP 62 pips;
RR>1

It missed TP1 by 2 pips, as I wasn't at my PC I didn't close it at BE then, so decided to exit now, closed position manually with -9 pips/1 lot, don't want to be in the market at NFP.
You remembered what I said about a breakout trade and when it give a TC and then if it does not move away quickly to watch it closely for a false move. Exactly what happened today.
  • #18,125
  • Dec 5, 2008 9:31am Dec 5, 2008 9:31am
Quoting Phillip Nel
You remembered what I said about a breakout trade and when it give a TC and then if it does not move away quickly to watch it closely for a false move. Exactly what happened today.
Hello Phillip

could you briefly explain that again

because even on the 1h chart I don't see a possibility to recognize it as a false break

Entry:1,2778
SL:1,2736
  • #18,126
  • Dec 5, 2008 9:36am Dec 5, 2008 9:36am
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  • #18,127
  • Dec 5, 2008 9:43am Dec 5, 2008 9:43am
Quoting RemingtonTJ
Hello Phillip

could you briefly explain that again

because even on the 1h chart I don't see a possibility to recognize it as a false break

Entry:1,2778
SL:1,2736
Hi
On the 4H pullback to the TL and 200sma it was a false brakeout but if you switched to the 1H for the pullback you could have made some pips or get out with a BE.
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  • #18,128
  • Dec 5, 2008 10:06am Dec 5, 2008 10:06am
anyone eyeing the Gbp/usd

TC signal on the 4H, price below 89, price retraced to 21 and bounced off.
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Click to Enlarge Name: gbpusd trade.gif Size: 47 KB
Keeping Life Simple
  • #18,129
  • Dec 5, 2008 10:11am Dec 5, 2008 10:11am
If this is not a trend, I don't know what it. Daily, 4H, 1H and even the 30minute are all trending the same way with all moving averages moving parallel to each other in an up trend.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad daily.gif Size: 40 KB
Click to Enlarge Name: usdcad 4h.gif Size: 42 KB
Click to Enlarge Name: usdcad 1h.gif Size: 41 KB
Click to Enlarge Name: usdcad 30m.gif Size: 40 KB
Keeping Life Simple
  • #18,130
  • Dec 5, 2008 12:37pm Dec 5, 2008 12:37pm
Quoting time1300
If this is not a trend, I don't know what it. Daily, 4H, 1H and even the 30minute are all trending the same way with all moving averages moving parallel to each other in an up trend.
and also its a nice triangle with a possibility for up breakout
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  • #18,131
  • Dec 5, 2008 12:54pm Dec 5, 2008 12:54pm
Quoting bshadroo
and also its a nice triangle with a possibility for up breakout
exactly, I have it with a red line. It has tested that level 3 times and now price has retraced back in between 8 and 21ema, just as per rules. next week we might see a break above that 1.3000 huge price level....... I will be on the lookout.
Keeping Life Simple
  • #18,132
  • Dec 5, 2008 1:38pm Dec 5, 2008 1:38pm
Quoting time1300
exactly, I have it with a red line. It has tested that level 3 times and now price has retraced back in between 8 and 21ema, just as per rules. next week we might see a break above that 1.3000 huge price level....... I will be on the lookout.

TIME1300 PLS explain more on this 1.3000 huge price level, is only pertaining to usdcad or is applicable to other pairs thanks in anticipation of inquiring
  • #18,133
  • Dec 5, 2008 2:15pm Dec 5, 2008 2:15pm
Quoting big_pipin
ok, got my macd and ma's up to spec, and ready to make money ... take a look at usd/jpy on the 4hr...nice bullish divergence setting up. jobs numbers will breakthis out for sure.
uj broke out..did anyone take it long? 89 ma says that 94.88 is 1st target.
  • #18,134
  • Dec 5, 2008 4:40pm Dec 5, 2008 4:40pm
Quoting kareemoladun
TIME1300 PLS explain more on this 1.3000 huge price level, is only pertaining to usdcad or is applicable to other pairs thanks in anticipation of inquiring
1.3000 is not a time but a price level on USDCAD. If u look at USDCAD chart you will see that price is huging to break that level which was fail.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #18,135
  • Dec 6, 2008 2:57am Dec 6, 2008 2:57am
Quoting Phillip Nel
I really gave it a thought to put it in a book format but after the last 2 months I saw people falling off because of a lack of discipline and not waiting and trading the high probability setups. It looks like the discipline needed for this strategy might just be too high.
The discipline however on any type of trading must be of a very high standard.

Here in South Africa our All share(excluding resources) was down allmost 30% less then a month ago from Nov2007. I started Jan2008 with R300 000 and are currently at R382 000 a gain of +27% on a...
i don't forget this step thank you very much ,
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  • #18,136
  • Dec 6, 2008 1:34pm Dec 6, 2008 1:34pm
Quoting mr.krai
i don't forget this step thank you very much ,
I couldn't agree with you more Mr. Krai. It is very easy to sit at your computer and stare at the up and down action of all those pips and want to be a part of that. One is easily distracted to see a breakout occurring and thinking maybe I should jump in and as soon as they do, price just turns around and now they are sitting at a loss. I agree with you that recently I also observe many people trying to point out or even trading every slightest signal the MACD gives without even taking into consideration, the whole premise of the sytem or even any other system at that, which is price action. The MACD is not the difficult aspect of the system, as a matter of fact, I have seen many other systems use the MACD system as their entry signal. It is not a hidden secret, the MACD signal. Nothing on this thread is a secret, the secret lies within the trader, their discipline, their money management, their business plan and most importantly, being focused to follow through all those elements. As Phillip has stated, this system if implemented correctly, will give anywhere between 8 to 12 high probablitity trades each month. If you are following many currencies, then you will have more opportunities to enter but on the downside, you will never really get a feel and the expertise of that currency. I think the Eur/Usd and the GBP/usd gives you enough opportunites for you to gain 300+ each month and if your work schedule allows you to be around when each 4H candle closes, then your ability to make 400+ a month greatly increases. I mean you don't need 100 pips a day to become successful at this business. All you need is just 200 or even 300 pips a month consistently for the effects of compounding to do its magic on your account. Just something for you to think about. A 300 pip a month for 12 months, will turn your $5000 account to over $50,000. Now thats not chump change and it's not very hard if you follow your business plan. As a matter of fact, I believe once you have forward tested over 50 trades and you have produced 300+ pips each month, I can pretty guarantee you that you will make that much money if you follow that precise business plan.

Forex, though seems complicated, is actually very simple. It is once the the most simple and liquid markets out there to trade with huge potential. Keep is simple, don't get greedy because there are zillions of opportunites in a month to take just a few pips from the big boys. The big boys don't mind you taking just a few hundred pips a month from them, thats chump change for them. So in conclusion, Keep It Simple Stupid should be the premise of this system. We all deviate from this strategy, even myself. Even I tend to get excited and enter pre-maturely and trade more than I need to trade. But then you sit back and analyze your trades and fine tone it for next week or next month.

So enjoy this Forex market as this will bring you more financial freedom and lifestyle freedom than any other business in the world. It is you and only you that can truely make that happen and no one else.
Keeping Life Simple
  • #18,137
  • Edited 8:01pm Dec 6, 2008 7:16pm | Edited 8:01pm
Quoting time1300
I couldn't agree with you more Mr. Krai. It is very easy to sit at your computer and stare at the up and down action of all those pips and want to be a part of that. One is easily distracted to see a breakout occurring and thinking maybe I should jump in and as soon as they do, price just turns around and now they are sitting at a loss. I agree with you that recently I also observe many people trying to point out or even trading every slightest signal the MACD gives without even taking into consideration, the whole premise of the sytem or even any...
I am not a person has the position I at thailand an occupation does the farm , later when graduate I have come to see the work does at the city ,I can work age 16 works year , what am I think must do ? comes to are belong to oneself must not come to is his employee , I then must resign to come to play , forex ,
stand the beginning of 2008 year i lose a lot of moneys about 28000$ because , carelessness , ignorance , the no use discipline , greed ,have no system ,control dont the temper
, before I will come to meet this my system Phillip Nel , quietly study this system seriously , discover the something in it , which must thank Phillip Nel , at realize search this system comes to and thank time 1300
the idea is good
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  • #18,138
  • Edited 9:06pm Dec 6, 2008 8:32pm | Edited 9:06pm
my opinion about Ucad,
1. daily make triangle, nice pinbar at upper triangle and posible triple top,
2. weekly strong resistance. u can see from left
- first circle it resistance then break it the line become support (circle 2)
- 3rd circle it suport then break it, the line become resistance (circle 5)
- 5 circle it resistance then break it, the line become suport again (circle 6)
- 7 circle it suport again then break it, make move back (circle 8)to the line but not touch it and come back down.
i see that to break the line everytime at least need 2 times try, let see what will happen to this last circle.
3. h4 make huge evening star

i think there is posibility it will goes down, right now sitting at 78.6 fibo monthly. any comment?.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: ucad h4.jpg Size: 30 KB
Click to Enlarge Name: ucad h4 monthly 2.jpg Size: 32 KB
  • #18,139
  • Edited Dec 7, 2008 12:29am Dec 6, 2008 9:51pm | Edited Dec 7, 2008 12:29am
i see the candle double Tweezer Bottom and Morning Star signal price close is over ema21 ,sma89 The a little ,macd being through zero pulled back signal good will effective the advantage about 30-40 pip , buy 1.2716 stoploss 1.2648 target 1.2750 r:r 1:1
for the safety price up fibo 61.8 or 200sma buy 1.2716 stoploss below 89sma ,21ema 1.2700 -16 pip target1.2732 +16 pip
Attached Image (click to enlarge)
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  • #18,140
  • Dec 7, 2008 11:55am Dec 7, 2008 11:55am
Quoting time1300
I couldn't agree with you more Mr. Krai. It is very easy to sit at your computer and stare at the up and down action of all those pips and want to be a part of that. One is easily distracted to see a breakout occurring and thinking maybe I should jump in and as soon as they do, price just turns around and now they are sitting at a loss. I agree with you that recently I also observe many people trying to point out or even trading every slightest signal the MACD gives without even taking into consideration, the whole premise of the sytem or even any...

It's really meaningful for me . thanks.
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