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4 Hour Strategy (MACD)

  • #18,401
  • Edited Jan 12, 2009 3:26am Jan 11, 2009 11:48pm | Edited Jan 12, 2009 3:26am
Entry made on early on 1H off of what looks like support off of 89sma. Also MACD RB signal on the 1H with price support on the 89sma. Price on the 4H has retraced back to the 21 and last candle has bounced off of 21ema but no MACD TC signal yet. I entered early on the 1H in anticipation of MACD TC signal on the 4H. I entered with 0.3 lots. I will close 0.1 lot after plus 25 pips.

Edit:
close this trade as bias was to the short side when price broke below 89sma. Also on the 5m time frame, a minor trend line had formed off of today's lows and price broke out and pullback and broke out so I re-entered with Profit target hit @ 1.4965 for +165 pip gain (which was just before Daily S1 pivot line.

165 pip / 3 lots = 55 pips Gain
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 4h trade.gif Size: 45 KB
Click to Enlarge Name: gbpusd 1h trade.gif Size: 45 KB
Click to Enlarge Name: gbpusd breakout trade.gif Size: 39 KB
Keeping Life Simple
  • #18,402
  • Jan 12, 2009 1:36am Jan 12, 2009 1:36am
Quoting Syahmi
Hi there...

Just out of curiousity... How do you plot the indicator at the bottom of your chart? And what is it called then ?

It looks very interesting... Care to share as well ?

Hi Syahmi...
This is my MACD set up @ h1. The h4 is just the same. Anyway I don't understand your question...which indicator?

You can see all my post here to follow the progress of my h1 entry method.

Thanks
  • #18,403
  • Edited 1:42am Jan 12, 2009 1:40am | Edited 1:42am
Quoting welshguy2000
Hello OR,

The bears have definitely taken control, if you follow Elliot wave theory this down move is the start of the 3rd wave. Before going short we should wait for the retrace & confirmation. The daily chart shows a large bearish engulfing candle & a TC signal off both the 8 & 21EMA's. I plan to enter a short position on a retrace on the 4H and wait for market rhythm to develop
Hello bro,

Always, the FAST/SLOW ema crossing in my h1 MACD window give me a perfect entry, which mean I have a standard SL 50 pips and I will not have to worry about it.

Anyway, if you notice I also did not take all the crossings. These serve me as my own filters as well.

How is your trading today? Sorry I haven't make summary from my previous post. Will do it later because I am still working right now.

K.I.T.
  • #18,404
  • Jan 12, 2009 2:33am Jan 12, 2009 2:33am
I made this over the weekend and just finished it. This was my first programming project and I'd love to get some feedback on it. Thanks a bunch...
Attached Image (click to enlarge)
Click to Enlarge Name: Ra457 MACD MTF.jpg Size: 122 KB
  • #18,405
  • Jan 12, 2009 5:37am Jan 12, 2009 5:37am
Quoting orangeRANGE
Hi Syahmi...
This is my MACD set up @ h1. The h4 is just the same. Anyway I don't understand your question...which indicator?

You can see all my post here to follow the progress of my h1 entry method.

Thanks

Thanks a lot.... great setting for the 1H MACD.... I thought it's totally different indy altogether.

Thanks anyway.
  • #18,406
  • Jan 12, 2009 6:15am Jan 12, 2009 6:15am
Quoting Syahmi
Thanks a lot.... great setting for the 1H MACD.... I thought it's totally different indy altogether.

Thanks anyway.
My pleasure...
  • #18,407
  • Jan 12, 2009 6:45am Jan 12, 2009 6:45am
Hi all...

This is a continue from my previous chart.

So here is my h1 entry method strategy according to my original plan earlier....

MACD Window
Look at mark "X". As mentioned earlier @ post # 18395, this should give me criteria (1). I am waiting for the green line (Fast EMA) to cross below the red line (Slow EMA) before I make my SHORT entry trade.

Chart Window
Look at mark "Y". And also pay attention to both lines below the price as well the 21EMA (in this case 21EMA in h1 represent the 8EMA @ h4). So here is the market rhythm as we all can see.

I will always look at the price emotion (candlestick patterns and behaviours) before making SHORT entry.

Have a look and make your own thought.

p/s-this analysis is not considering any fundamental analysis.
Attached Image (click to enlarge)
Click to Enlarge Name: Presentation1.gif Size: 95 KB
  • #18,408
  • Jan 12, 2009 9:37am Jan 12, 2009 9:37am
I was looking to get short and used a lower timeframe method to get in courtesy of......

Out with a nice chunk and still holding one in case we get to the 3200 level..
Attached Image
  • #18,409
  • Jan 12, 2009 9:54am Jan 12, 2009 9:54am
Quoting Palmer
I was looking to get short and used a lower timeframe method to get in courtesy of......

Out with a nice chunk and still holding one in case we get to the 3200 level..
where is your 1 h chart i want download thank you very much ,
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  • #18,410
  • Edited 6:55pm Jan 12, 2009 2:42pm | Edited 6:55pm
Entry made on 1H as price on 4H has broken below 200sma and has retraced back to it and bounced off of it. Price has been riding the 8 and 21ema on the 1H and entry was made due to bounce off of 21ema.

Edit:
1st target hit (+30pips)

Edit:
2nd target closed manually (+60 pips)
Saved last lot to ride it out into the 1.32's
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 1h trade.gif Size: 46 KB
Keeping Life Simple
  • #18,411
  • Jan 12, 2009 4:16pm Jan 12, 2009 4:16pm
Quoting mr.krai
where is your 1 h chart i want download thank you very much ,
I'm not sure what you mean by downloading the chart...

Stopped out at b/e for the remaining lot.
  • #18,412
  • Jan 12, 2009 4:40pm Jan 12, 2009 4:40pm
Quoting Palmer
I'm not sure what you mean by downloading the chart...

Stopped out at b/e for the remaining lot.
The 1hr template, i guess?
  • #18,413
  • Jan 12, 2009 6:55pm Jan 12, 2009 6:55pm
Thanks hicakxxx...

This was earlier this afternoon. The 4hr keeps retreating from the 8 so with the 1hr MACD giving its on signal I got in. I exited the first for about 25 and will give the remaining lot some room to breathe and keep that stop above the 8ema on the 4hr. We'll see how this plays out. I put in this entry just before I shut down my work PC and am now just getting around to checking on things. This was a nice 75 pip day using the 4hr as a guide.
Attached Image
  • #18,414
  • Jan 12, 2009 10:23pm Jan 12, 2009 10:23pm
I would like to show the result from my previous post.

As you can see in the chart below, the price was pushed up by the trend line and the price level 1.3300 (see point X). I did mentioned about this in my previous post. So I was really aware about it.


In the MACD window, point Y shows that the green line is crossing below the red line. Did I take the SHORT entry here as I supposed to? The answer is NO.

Why I didn't SHORT @ point Y? The answer was very clear. Look at the PRICE EMOTION during the crossing was made. The candlestick pattern/behaviour has long tail and a spinner.

Conclusion, MISSION abort. This crossing did not produce good SHORT entry to me and I found my trading plan is filtered again. This is how my h1 entry method works for me. Those trend line, price level and candlestick pattern/behaviour make me aware that not every crossing made in MACD window can be take as entry signal.

Anyway, I have change my plan now. Will have to wait for another good SHORT entry signal or counter trend signal. The market isn't going anywhere.

Any comments/opinions are most welcome.

p/s-stick to the plan and you can save yourself from a doubtful trade
Attached Image (click to enlarge)
Click to Enlarge Name: Presentation1.gif Size: 73 KB
  • #18,415
  • Jan 13, 2009 3:09am Jan 13, 2009 3:09am
usd/jpy trade:

Entry made on 1H with TC MACD signal. Price has been hugging the 8ema on the 4H with price below the 89sma. Price has harmonically retraced to the 21ema and back away from it again for the past 3 days on the 1H time frame.

ENTRY PRICE: 89.28 (0.3 lots)
PRICE TARGETS: 1) 89.03 (25 pips) Target hit
2) 88.80 (48 pips) closed manually @88.98(30 pips)
3) 88.20 (50 pips) closed manually @88.85(43 pips)
REASON FOR TARGET:
1) 25 pip gain
2) Just before the Daily S1 pivot line
3) Just before the Daily S2 pivot line

Edit:
First profit target hit as planned. Second lot was closed manually because price had acted as support at around 89.00 and it was bed time. The last lot moved to BE minus 25 pips. Last lot closed as price hit the Daily S1 pivot line and I thought maybe it might act as support so I closed the entire trade before heading to bed with some good pips.

25+30+43=98/3=32.67 PIPS
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy 1h trade.gif Size: 44 KB
Click to Enlarge Name: usdjpy 4h trade.gif Size: 42 KB
Keeping Life Simple
  • #18,416
  • Jan 13, 2009 3:45am Jan 13, 2009 3:45am
Hi bro,

What's your trading plan today? Did you follow my method progress anyway? As for me, I'm looking for a PERFECT short entry again today. Maybe won't have time to post it here today. We'' see how later...

Have a great day trading...
  • #18,417
  • Jan 13, 2009 4:03am Jan 13, 2009 4:03am
Hi all...

The MACD in h4 seems a little bit flat...but I would like to see the green line (Fast EMA) in my h1 MACD window will be going back downside afterward before I can take good SHORT entry signal.

The psychological price level 1.3300 (look at the price window) also has been broken already. I am good to go. Who else in?

Have a look and make your own thought.
Attached Image (click to enlarge)
Click to Enlarge Name: Presentation1.gif Size: 142 KB
  • #18,418
  • Jan 13, 2009 4:14am Jan 13, 2009 4:14am
hi, im new in this thread, and literatly, have no experience with the macd in long entrys, just in shorts entrys in 1M charts.

i think this could bee a nice place to enter. and the beginnin of a long trend.

http://img49.imageshack.us/img49/3955/trade1wv8.gif

anyone who follow the par eur/usd and have other opinion, if i break any rule sorry, this is my first post
  • #18,419
  • Jan 13, 2009 4:19am Jan 13, 2009 4:19am
SHORT entry @ 1.3286

SL 1.3355 (5 pips above 8 EMA 1.3350 = 69pips from entry rate)
TP 1.3217 (profit target area @ recent lowest candle 1.3217 = 69pips from entry rate)
Risk : Reward = 1:1

We'll see the result later....
  • #18,420
  • Jan 13, 2009 6:52am Jan 13, 2009 6:52am
the last candle in the chart of adobe, the mini red, its has a high of 1.33291, its touch the 21 ema and then just go downtrend. Not the best entry. 40 pips or less
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