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4 Hour Strategy (MACD)

  • #2,881
  • Edited 5:22pm Mar 20, 2007 4:53pm | Edited 5:22pm
Quoting Phillip Nel
Info

Another great wrapup, Phillip. You mentioned using your strategy on the daily time frame. Are the settings the same on MACD? Meaning the settings on MACD on the 4 hour the same for the daily.
Thanks,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #2,882
  • Mar 20, 2007 6:06pm Mar 20, 2007 6:06pm
Hey Benf, don't feel bad about it. I am sure, next time, it will be your time

Thanks for your inputs

Regards
Nacho


Quoting Benf
Nacho, after your message I've start watching this currency, it's completely new for me. If yesterday I had a bit more resolution to believe in what I'm saying, I could pocket about 80 pips in long (red mark line). It seems the continuation signals (valleys) like to come in series of two-three.
http://forexbarometer.com/graph/aud-usd-070320.gif
  • #2,883
  • Mar 20, 2007 6:25pm Mar 20, 2007 6:25pm
Hey Alberto,been trying to message you
  • #2,884
  • Mar 20, 2007 6:34pm Mar 20, 2007 6:34pm
Quoting FOURX
Hi Woju

Could you please post a chart for this TC ,as every bar on macd since 12.00 on 16th on my chart has been red I do not see macd giving a long signal (green bar) until 16.00 bar close today,

I see that Phillip says you were correct,so it seems that I am not interpretting this system correctly.

Also what was your s/l ?


Could anyone please explain, as I see Benf now agreeing with this analysis?
Cheers
Initial SL 1.3268 I moved it to 1.3278 at 24.00 (5p below 21ema)

I use Mig charts

http://www.forexfactory.com/attachme...1&d=1174433270
Attached Image
  • #2,885
  • Mar 20, 2007 6:40pm Mar 20, 2007 6:40pm
Quoting hard1head1
Wojo,

There is a trend line dead ahead at approx. 3328 so be careful. am in this one too, but I dont know if there is enough gas to go thru it.

Jim
Hi Jim

I'm also aware of double top (what Phil advised). What are you going to do?
I will stick to my plan.

Thanks

Woju2
  • #2,886
  • Mar 20, 2007 6:46pm Mar 20, 2007 6:46pm
Im gone, long ago, when counter trend was broken. I drew this counter trend on the 15 min t/f

J
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  • #2,887
  • Mar 20, 2007 7:12pm Mar 20, 2007 7:12pm
EU 4H MACD, it seems to be forming a round top after it bounces from ZERO. Is this a signal that EU is going to have a downtrend pretty soon?

Should I wait for other signals to confirm this movement?


BTW, anybody here in IBFX MT4? How can I make my MACD lines look like the chart posted above, you know, red and green lines. Mine is only in green line, whether up or down.
  • #2,888
  • Mar 20, 2007 7:31pm Mar 20, 2007 7:31pm
the eur could form a round top here...
However dont enter untill this bar closes.


Guys check out the CABLE, round top forming. Eh?
  • #2,889
  • Mar 20, 2007 7:43pm Mar 20, 2007 7:43pm
Yes, CABLE also forming a round top.

What's the ideal entry point for GU? Also until the 4H candlestick closes?

For EU, you mean it's a good entry point after the latest stick closes?
  • #2,890
  • Mar 20, 2007 7:59pm Mar 20, 2007 7:59pm
Looking for a zero bounce off this pair from the 89. It's sitting on the 21 ema above 89, has testing down twice before (I got both of them ). With the jpy off today though may not do TOO much... but with the e/u and g/u possibly shaping up to give the usd some prop (off nice upper t'ls), it may come along. it's also in it's second triangle looking to break out soon.

Anyway... looks like MACD will be showing some signals soon but we're in almost an eerie call before the storm period.... so not sure how reliable they are or will be..
DireXiv Make it happen, no one else is going to do it for you...
  • #2,891
  • Mar 20, 2007 8:23pm Mar 20, 2007 8:23pm
Hey guys,
.
Ready for Cable Fall ?
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  • #2,892
  • Mar 20, 2007 8:24pm Mar 20, 2007 8:24pm
Just a reminder, JPY Hiliday on March 21
  • #2,893
  • Mar 20, 2007 8:27pm Mar 20, 2007 8:27pm
Interest rate statement tomorrow...

Yeah yeah I now...It's already priced in the market, There will be no rate hike or lowering...blah blah blah....

Just be aware.
  • #2,894
  • Mar 20, 2007 8:57pm Mar 20, 2007 8:57pm
Quoting cityguy
Hey guys,
.
Ready for Cable Fall ?


You mean GU is about to correct anytime now? Is it not too soon to enter the market?

What other signinficant signals should we wait before getting in the ride for the fall of GU?
  • #2,895
  • Mar 20, 2007 9:10pm Mar 20, 2007 9:10pm
Quoting Pinggarcia
You mean GU is about to correct anytime now? Is it not too soon to enter the market?

What other signinficant signals should we wait before getting in the ride for the fall of GU?

G/U rite now @ 1.9612. It would be an ideal trade if the GBP/USD falls within the next few bars according to the MACD (RT). But it has broken a major TL 2 bars ago @ 1.9602, which could act as a support. I will have to wait and see if this turns out as a Trend continuation signal or not (by using the 1HR as well).
  • #2,896
  • Mar 20, 2007 10:13pm Mar 20, 2007 10:13pm
Okay, so here's the deal, hello everyone,I am new to this thread and do not believe in the Holy Grail of Forex as it were, however I do believe that a key component of reaping profits is by benefiting off of those who are the key players (market makers) and as such I believe the news is the only way to succeed time and again. I read your strategy Phillip, and I wanted to thank you for it because I believe it has merit. But I was wondering if some of your parameters were tightened up a bit might it not serve to produce fewer pips per month but an even more stable environment across the board. As it stands, a five lot might reap $180K per annum but I would be content in realizing $80K and knowing that the system was as stealth as possible. It seems like you've put alot of thought into this so it might be one of those "if it ain't broke - don't fix it" deals. But I only ask because I don't know and am always looking to improve my position. Right now I am operating @140 pips per month of winning trades and one loss but I am always willing to expand my horizons.
Sincerely, U4X












Quoting Phillip Nel
I am using this 4 Hour strategy only for the last month as I have papertraded for 2 years trying everything and or system I could find. (I am trading equities for almost 10 years)I have decided that I will only go live(after some losses-not to serious) after I have studied the field of forex and are satisfied that I have a system that works. I do believe that we are trying to make it to impressive and difficult. This system is simple and easy to understand. I have backtested and forward tested it over more than 200 trades and it gives 300+ pips per month. I never had more than two consecutive losses. I never use a stoploss bigger than 50. There are enough chances to ignore the ones bigger than 50.

I am using this strategy only on the EurUsd and the GbpUsd. Have not tested it on other.
I hope that you will find some use for it and that it put you on the road to financial independence.
  • #2,897
  • Mar 20, 2007 10:14pm Mar 20, 2007 10:14pm
Okay when would be a good time to pull the trigger on this beutiful macd setup? Phillip you out there buddy?
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  • #2,898
  • Mar 20, 2007 10:36pm Mar 20, 2007 10:36pm
What do tou think of this counter trend trade? On my chart the MACD seems to be just starting to show a red bar.

I will wait for close of this bar, but I would love some input on how to look at the 1 hour for confirmation. Like.. what would I look for either way?

Any analysis would be appreciated.

My thoughts are

Entry 1.9614 short (counter trend, RT, Recent inside tops)
SL 1.9633 to get out of range of Recent high 1.9624
TP1 1.9566 8 ma
TP2 1.9500 just above 21ma and Price

Move stop to BE at 1.9600 just in case it becomes support and moves against me.

Just beginner thoughts.

all my best,
Nanette
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  • #2,899
  • Mar 20, 2007 11:11pm Mar 20, 2007 11:11pm
Quoting pips4uandme
That upmove happened so fast, it was easy to miss. Keep your eye on TL resistance levels we are coming up on and see if the indicators give a contertrend signal (I'm thinking that we will see profit taking later today b/c of fed meeting...but I could be wrong).

Glad to see cable has decided to move again! Let's all make some pips!!!
Seems like everyone is waiting to counter trend based on RT formation....be very careful! We didn't see any profit taking today on the huge run-up. Instead we are seeing consolidation (remember RT can also be consolidation before TC). BOE releases minutes today re:interest rate decision. Looks like the market is pricing in another rate increase next meeting based on last night's CPI. I think cable may go back to the 1.9900 level if minutes show support another rate increase and if the Fed isn't MORE hawkish tomorrow (if they raise rates, we'll see a huge drop).

So, be aware of trendlines (I have a major one sitting just a few pips above price). Look for a break above with TC on hourly. Good luck all. (I'm biased long, but have learned that the market will do what it wants and we should follow). Look at price action and MACD signals!
  • #2,900
  • Mar 20, 2007 11:14pm Mar 20, 2007 11:14pm
Quoting 5forMe
What do tou think of this counter trend trade? On my chart the MACD seems to be just starting to show a red bar.

I will wait for close of this bar, but I would love some input on how to look at the 1 hour for confirmation. Like.. what would I look for either way?

Any analysis would be appreciated.

My thoughts are

Entry 1.9614 short (counter trend, RT, Recent inside tops)
SL 1.9633 to get out of range of Recent high 1.9624
TP1 1.9566 8 ma
TP2 1.9500 just above 21ma and Price

Move stop to BE at 1.9600 just in case it becomes support and moves against me.

Just beginner thoughts.

all my best,
Nanette

Nice plan! See your logic and rationale for trade w/good r:r. Doesn't look like "just beginner thoughts" to me!
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