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4 Hour Strategy (MACD)

  • #2,281
  • Mar 11, 2007 10:58am Mar 11, 2007 10:58am
Thank you Phillip
  • #2,282
  • Mar 11, 2007 11:43am Mar 11, 2007 11:43am
Hi Guys, Its the 16:00 candle on the 4 hour on 3/2/07

Jim
  • #2,283
  • Mar 11, 2007 11:55am Mar 11, 2007 11:55am
Phill, Thanks for the advice on the stoploss, this is my weakness as a trader and you have been very helpful.

J
  • #2,284
  • Mar 11, 2007 2:01pm Mar 11, 2007 2:01pm
I was looking at this chart of the eurusd and I remembered Phil say to extend your trendlines back a ways. You can see the light blue line extended back to the middle of January where it acted as resistance. The same line today is acting as support. Looks like a pretty strong indicator to me. Anyone agree?
Attached Image
  • #2,285
  • Mar 11, 2007 3:17pm Mar 11, 2007 3:17pm
Phill,

I just clicked on your last attachment and it came up with invalid attachment.
Do you know what happened?
  • #2,286
  • Mar 11, 2007 3:18pm Mar 11, 2007 3:18pm
Info

UPDATED
MACD can also give a bounce off Zero when the down move comes.
Attached Image
Attached File(s)
File Type: zip Three little sisters.zip   770 KB | 5,244 downloads
  • #2,287
  • Mar 11, 2007 3:19pm Mar 11, 2007 3:19pm
Quoting smnitro1
Phill,

I just clicked on your last attachment and it came up with invalid attachment.
Do you know what happened?
Sorry I deleted it. Saved the wrong chart. Have fixed it.
Greetings
  • #2,288
  • Mar 11, 2007 3:52pm Mar 11, 2007 3:52pm
Hi Irusoh,

This is what I am talking about regarding the MACD indicator. As you can see in this US/CAD chart, there are two sets of numbers. What does each one represents?
Attached Image
  • #2,289
  • Mar 11, 2007 3:55pm Mar 11, 2007 3:55pm
Here is a larger image
Attached Image
  • #2,290
  • Mar 11, 2007 4:39pm Mar 11, 2007 4:39pm
alcastro:

What version of the color MACD is on your screen? Mine is v102. Not sure why you have two numbers. Unless he posted a new indicator in his thread.

EURUSD:

Now who said that the FX was a gapless market? Either way...RB trying to form on the current 4hr candle but we also hit the 21 in a 'bear' mode so we should be looking for a TC to the downside on the 1hr. But, that short on the 1hr happened too fast. Because of where the market opened and because of Friday$ move, I'm going to let the 4hr find its way before I do anything...

Have a good week everybody. As Phillip would say, "Don't force it, let the trade come to you." I've got burgers on the grill...gotta go!
  • #2,291
  • Mar 11, 2007 4:57pm Mar 11, 2007 4:57pm
Thank u, Phil! Excellent MP3s!! You're an outstanding teacher!!!
  • #2,292
  • Mar 11, 2007 6:05pm Mar 11, 2007 6:05pm
Looks like EURUSD retraced up to the 21 and closed back at support w/RB forming. Is anyone else waiting for TC signal from MACD for move lower?
Watching 1 hour for sign the RB morphs into TC.

Any thoughts?
  • #2,293
  • Mar 11, 2007 6:06pm Mar 11, 2007 6:06pm
Quoting Pipsi cola
Thank u, Phil! Excellent MP3s!! You're an outstanding teacher!!!
Second the sentiment! Thanks for the three little sisters!!!!!
  • #2,294
  • Mar 11, 2007 6:27pm Mar 11, 2007 6:27pm
pips4uandme;

i'm keeping an eye on the TC on the 1 hour but my 4hr MACD bar keeps swithing from red to green and back to red. The three lower ma's are real close to each other which tells me the market is indecisive at the moment...
  • #2,295
  • Mar 11, 2007 6:59pm Mar 11, 2007 6:59pm
Please allow me to introduce my self….

This is my first and not last post to this incredible message board. I have been involved basically full time in forex for 2 years. I have been using a $3000 trading system the whole time with mixed results. Then I discovered Phillip’s post and my life has changed. On Feb 22, after reading his many posts and .PDF files, the light bulb went off and I got it. Here is a message for the newbie’s out there on what I did after that instead of asking a lot of questions. What I am about to say is not bragging but is simply what I then decided to do: Since I did not understand completely MACD’s and candles, I went on line first to Stock and Commodities Magazine and bought an article on how the MACD works. Then I bought Candlestick Charting Explained by Gregory Morris (www.hotcandle.com). I reviewed all the .PDF files as Phillip instructed. Then I spent 8 hours going through 1300 posts from the beginning to compile a 14 page summary of all the important data on how this method works. In the last 2 weeks I have studied this method and looked at the charts to understand how it works in the real world, and I can say I am very excited. I feel like I already know many of you just by your posts. Now as a new member I would like to ask a question or two to make sure I respect the use of this message board and what we are to ask and post on it: Is this post only directed at the 1 hr and 4 hr methods? Are we only to talk about the major pairs to trade (no exotics)? It appears that the goal is to prefect the above two questions and techniques first. I am willing to follow the rules and share with the group what I can.

Read any successful person’s biography and it goes like this: struggle, struggle, struggle, small success; struggle, struggle, struggle, small success; struggle, big struggle, struggle, BIG SUCCESS. What makes anyone think that trading is any different?
  • #2,296
  • Mar 11, 2007 7:12pm Mar 11, 2007 7:12pm
Quoting Phillip Nel
Info

UPDATED
MACD can also give a bounce off Zero when the down move comes.
Thank you so much Phillip you does so much for us, its most appreciate
  • #2,297
  • Mar 11, 2007 7:17pm Mar 11, 2007 7:17pm
Quoting pip pirate 2
Please allow me to introduce my self….

This is my first and not last post to this incredible message board. I have been involved basically full time in forex for 2 years. I have been using a $3000 trading system the whole time with mixed results. Then I discovered Phillip’s post and my life has changed. On Feb 22, after reading his many posts and .PDF files, the light bulb went off and I got it. Here is a message for the newbie’s out there on what I did after that instead of asking a lot of questions. What I am about to say is not bragging but is simply what I then decided to do: Since I did not understand completely MACD’s and candles, I went on line first to Stock and Commodities Magazine and bought an article on how the MACD works. Then I bought Candlestick Charting Explained by Gregory Morris (www.hotcandle.com). I reviewed all the .PDF files as Phillip instructed. Then I spent 8 hours going through 1300 posts from the beginning to compile a 14 page summary of all the important data on how this method works. In the last 2 weeks I have studied this method and looked at the charts to understand how it works in the real world, and I can say I am very excited. I feel like I already know many of you just by your posts. Now as a new member I would like to ask a question or two to make sure I respect the use of this message board and what we are to ask and post on it: Is this post only directed at the 1 hr and 4 hr methods? Are we only to talk about the major pairs to trade (no exotics)? It appears that the goal is to prefect the above two questions and techniques first. I am willing to follow the rules and share with the group what I can.

Read any successful person’s biography and it goes like this: struggle, struggle, struggle, small success; struggle, struggle, struggle, small success; struggle, big struggle, struggle, BIG SUCCESS. What makes anyone think that trading is any different?
.
Welcome,
.
Well if you read his initial pdfs, he only tested this strategy with Euro/$ and GBP/$, so its good to start with these two majors.
.
  • #2,298
  • Mar 11, 2007 7:18pm Mar 11, 2007 7:18pm
Welcome Pip Pirate!

Any pair that you want to apply the 4 hour method to is OK....many of us focus on pairs we are familiar with (my case, EURUSD, GBPUSD, and USDCHF).

Looking forward to your contributions to this amazing forum!

Best,
Pips
  • #2,299
  • Mar 11, 2007 7:32pm Mar 11, 2007 7:32pm
Quoting pip pirate 2
Please allow me to introduce my self….




This is my first and not last post to this incredible message board. I have been involved basically full time in forex for 2 years. I have been using a $3000 trading system the whole time with mixed results. Then I discovered Phillip’s post and my life has changed. On Feb 22, after reading his many posts and .PDF files, the light bulb went off and I got it. Here is a message for the newbie’s out there on what I did after that instead of asking a lot of questions. What I am about to say is not bragging but is simply what I then decided to do: Since I did not understand completely MACD’s and candles, I went on line first to Stock and Commodities Magazine and bought an article on how the MACD works. Then I bought Candlestick Charting Explained by Gregory Morris (www.hotcandle.com). I reviewed all the .PDF files as Phillip instructed. Then I spent 8 hours going through 1300 posts from the beginning to compile a 14 page summary of all the important data on how this method works. In the last 2 weeks I have studied this method and looked at the charts to understand how it works in the real world, and I can say I am very excited. I feel like I already know many of you just by your posts. Now as a new member I would like to ask a question or two to make sure I respect the use of this message board and what we are to ask and post on it: Is this post only directed at the 1 hr and 4 hr methods? Are we only to talk about the major pairs to trade (no exotics)? It appears that the goal is to prefect the above two questions and techniques first. I am willing to follow the rules and share with the group what I can.

Read any successful person’s biography and it goes like this: struggle, struggle, struggle, small success; struggle, struggle, struggle, small success; struggle, big struggle, struggle, BIG SUCCESS. What makes anyone think that trading is any different?
Welcome pip pirate, i too tried the 3000$ system for 2 year with less than stellar results, i found with Phillips srtategy and the help from all this excellent people on this forum that i now have some predictable results. This is so much better. may many pips enter your accuont. O'Zeeke
  • #2,300
  • Mar 11, 2007 7:43pm Mar 11, 2007 7:43pm
Thank you all for the welcome. The reason I asked about which pairs to post is I wanted to make sure I could add the exotics. For those who aren't familiar with them, I will still post my observations and you can study the pairs to see how they do. For example, and I missed this one, look at the 1hr chart for the gbp/jpy on March 8 at that low. Classic morning doji candle pattern and a 500 pip run. Would have made a great week!

Read any successful person’s biography and it goes like this: struggle, struggle, struggle, small success; struggle, struggle, struggle, small success; struggle, big struggle, struggle, BIG SUCCESS. See setbacks as proof of your future success. What makes anyone think that trading is any different?
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