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4 Hour Strategy (MACD)

  • #18,161
  • Dec 10, 2008 5:33am Dec 10, 2008 5:33am
Hi guys,
am new to this thread.
been reading all the learning materials for the past 2 weeks and will start testing the system.
just one question though to able to follow the posts: what time server do you use for the start of the day on the 4 hour chart. it differs a lot between brokers.

tnx
  • #18,162
  • Dec 10, 2008 7:02am Dec 10, 2008 7:02am
Quoting teddyb
Hi guys,
am new to this thread.
been reading all the learning materials for the past 2 weeks and will start testing the system.
just one question though to able to follow the posts: what time server do you use for the start of the day on the 4 hour chart. it differs a lot between brokers.

tnx
You could download the terminal from MIG,
And it is GMT+1.

Dhalsim
Success is the small sum of efforts, repeated day in and day out.
  • #18,163
  • Dec 10, 2008 7:05am Dec 10, 2008 7:05am
I'm baaaack!!! Got things cleaned and the internet connection is back up. Went through about a dozen anti-spyware progs and SuperAntiSpyware did it. Some internet proxy settings were corrupted.

FXInvestor: I'm sure Phillip will appreciate that. He really likes to hear about people making money with his method.


Teddyb: I'm with ODL but the way it works out with the broker server time all washes out in the end. You will get signals that 'we' don't and we will get signals that you don't. I can never figure out server times but with ODL the server time is 13:04 and right now it is 08:04 EST USA...

USDYEN looks like it wanting to go south...
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  • #18,164
  • Dec 10, 2008 7:13am Dec 10, 2008 7:13am
welcome back palmer,

hope you have rid your computer from those god awful viruses once and for all. Welcome back and hope to see more of your around.

dean
Keeping Life Simple
  • #18,165
  • Dec 10, 2008 7:40am Dec 10, 2008 7:40am
price on runing ema8 strong
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  • #18,166
  • Dec 10, 2008 7:58am Dec 10, 2008 7:58am
Thanks Time1300...

Yen closed above the 21 on the 4hr, no longer looking at a short right now.
  • #18,167
  • Dec 10, 2008 8:08am Dec 10, 2008 8:08am
Quoting Palmer
Thanks Time1300...

Yen closed above the 21 on the 4hr, no longer looking at a short right now.
hey palmer, I had taken out the usd/jpy pair from my charts as I am only concentrating on mostly the eur/usd. But I just opened it up and what a nice down trend as per the rules. the moving averages parallel to each other, price below the 89sma. Its a good chart for any new comers to the thread to see price action in terms of the moving averages. On my platform, the 8 and the 21 are pretty close to each other. Is that what you are getting as well? The current 4H candle on my platform has not closed yet, it will in about 2 hours and is just by the 21ema.

If MACD gave signal to short, would be with the trend and by the rules of the system, this would be a great example of a high probability trade for those that are new to the forum. So far price seems to be moving towards the 89sma but if candle closes below the 21 and MACD gives signal, a good short possibility.
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Keeping Life Simple
  • #18,168
  • Dec 10, 2008 8:13am Dec 10, 2008 8:13am
Quoting dhalsim
You could download the terminal from MIG,
And it is GMT+1.

Dhalsim
I need the time used by Phillip in the weekly wrap up charts

tnx
  • #18,169
  • Dec 10, 2008 8:15am Dec 10, 2008 8:15am
Quoting teddyb
I need the time used by Phillip in the weekly wrap up charts

tnx

from my knowledge, phillip uses GMT+2 so you can convert that to your time zone, but to be sure, you may ask him yourself when he is available
Keeping Life Simple
  • #18,170
  • Dec 10, 2008 8:36am Dec 10, 2008 8:36am
Quoting Palmer
I'm baaaack!!! Got things cleaned and the internet connection is back up. Went through about a dozen anti-spyware progs and SuperAntiSpyware did it. Some internet proxy settings were corrupted.

FXInvestor: I'm sure Phillip will appreciate that. He really likes to hear about people making money with his method.


Teddyb: I'm with ODL but the way it works out with the broker server time all washes out in the end. You will get signals that 'we' don't and we will get signals that you don't. I can never figure out server times but with ODL the server...

welcome back we 've missed u alot and your posting ,it just seems that nothing is happening in this forum because as far as concerned i do for ur examples alot .is this u no wonder
  • #18,171
  • Edited 9:56am Dec 10, 2008 8:40am | Edited 9:56am
Hello ppl. Ive observed of this thread for a long tym, never really contributing to it. So will try to contribute to share info with other. So here i go....

Entry 1.2959
SL 1.2924
TP 1.3074

An early entry. Price bounce off the 21MA on the 1hrs TF. Btw, last tym i know Phillip uses MIG as a broker (GMT+2), after some issue with his broker. He was recommended by other in the thread to use Interbank. Some of his early wrap-up included chart from MIG and Interbank. But better asked the man himself

Set to BE when price reached 1.2994.
Closed @ 1.3025 & 1.2986 (66+27/2=47)
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  • #18,172
  • Dec 10, 2008 9:04am Dec 10, 2008 9:04am
Quoting Al1nn
An early entry. Price bounce off the 21MA on the 1hrs TF.
Really nice picture on 1H! Nice trade. I missed 1H, and on 4H TC now decided not to enter (if retraces - maybe) because of SL and possible (to my mind) retracement.
  • #18,173
  • Dec 10, 2008 9:04am Dec 10, 2008 9:04am
Quoting kareemoladun
welcome back we 've missed u alot and your posting ,it just seems that nothing is happening in this forum because as far as concerned i do for ur examples alot .is this u no wonder
Thanks buddy...

time: this is what I see. You have the right idea here. I just like to see things flow the way they are supposed to; price test the 21 and retreats in the original direction per the rhythm with no ifs and or buts. With the close above the 21, that's always a red flag to me that the trend 'might' be stalling or changing a little. I see the 1hr has consolidated some and is ranging right around the pivot. I only have pivots on the 1hr charts. They are too close together on the 4hr, too compact. So, with 3 hours to go for the candle to close on the 4hr and the 1hr with my ADX 'friend' still looking kind of bullish, I'll just put this chart aside for now and let it clean up. I don't like to stare at things too long to make a decision. It's either there or it isn't. If it isn't I may look at a 1 or 5 min timeframe (if I have the time) to see if something is setting up there. But again, even if the lower timeframe looks sloppy, same thing. Wait for it to clean up. So right now, just waiting for things to clean up...

For some of the new faces...I added, with Phillip's approval of course, a 1hr entry per the 4hr rhytm method on the website using the ADX. But, only consider this when you have the 4hr rhhthm principles down....
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  • #18,174
  • Dec 10, 2008 2:21pm Dec 10, 2008 2:21pm
I took a short here but will watch this close because of the way price has been bouncing off the pivot. Will exit one in the pivot area on the 1hr for about 20, move one to b/e and the last stop to 20 pips = 0 sum trade. Not a big fan of these afternoon trades but the 4hr looks weak. Sold at 92.62...
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  • #18,175
  • Dec 10, 2008 2:34pm Dec 10, 2008 2:34pm
I just recognized the fact that the previous 4hr candle is a big fat doji = market indecison...not cool.
  • #18,176
  • Dec 10, 2008 3:22pm Dec 10, 2008 3:22pm
Quoting Palmer
Thanks Time1300...

Yen closed above the 21 on the 4hr, no longer looking at a short right now.
Welcome back fella. Your misfortune has reminded me to backup my data!!
Hope you never lost anything important.

Not sure how I missed this yesterday. Think I went bed early yesterday. Looked a decent setup to me with regards to price moving away from 21EMA and a TC on the MACD. The Hammer on the 4H candle before worries me, but with the SL at about 50pips it would have been a high enough probability setup for me. I even wrote on my weekly notes --"EURJPY - Longs W.2 or B TP reached, use 4H or 1H to enter"

Neil
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  • #18,177
  • Dec 10, 2008 5:36pm Dec 10, 2008 5:36pm
Yes, back up that data and all 216 holy grail indicators...

I exited that USDJPY short some time ago for -3 pips. I didn't like what is wasn't doing, good thing.

Bad time of day
Fat doji
Recent close above the 21 in a downtrend

I'm sitting in the corner with the dunce cap on right now.
  • #18,178
  • Dec 10, 2008 9:01pm Dec 10, 2008 9:01pm
Quoting Palmer
I just recognized the fact that the previous 4hr candle is a big fat doji = market indecison...not cool.

Hello palmer,

I was going to ask you if you put the pivot lines manually or is there an indicator/EA for it somewhere on the site I missed. I somewhat remember I had something like that but I can't find it on my computer.

Thanks
dean
Keeping Life Simple
  • #18,179
  • Dec 10, 2008 9:53pm Dec 10, 2008 9:53pm
Quoting Palmer
I'm baaaack!!! Got things cleaned and the internet connection is back up. Went through about a dozen anti-spyware progs and SuperAntiSpyware did it. Some internet proxy settings were corrupted.

FXInvestor: I'm sure Phillip will appreciate that. He really likes to hear about people making money with his method.


Teddyb: I'm with ODL but the way it works out with the broker server time all washes out in the end. You will get signals that 'we' don't and we will get signals that you don't. I can never figure out server times but with ODL the server...
Congratulations! Palmer, the picture is ..... Shining?
Plan your trades and trade your plans
  • #18,180
  • Dec 11, 2008 7:09am Dec 11, 2008 7:09am
And the Yen...there she went. Oh well, there will be another set-up. I just don't like trades lingering for several hours and not doing anything.

Hey saka my friend!!!

time: I've got that indicator on another laptop, I'll upload that shortly...
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