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4 Hour Strategy (MACD)

  • #18,941
  • Mar 3, 2009 11:25am Mar 3, 2009 11:25am
Good Morning all,

Woke up this morning and had 2 of my 3 targets be filled on the USD/JPY. My third target came about 10 pips shy of being filled but I am still in the positive and will let it run in case it runs past the 200sma on the Daily........

Total of 71 pips so far..............
Keeping Life Simple
  • #18,942
  • Mar 3, 2009 5:05pm Mar 3, 2009 5:05pm
Hey things look like they are moving again. People making pips too! Good stuff. I was sidetracked for the majority of the day. My signature has been removed but the new people can click on my 'name' and see the website for the method.

Again, it looks like the pairs are clearing up so I'm hoping for a entry. EU is finding a lot of support right here at the 0 Fib line and long term support too so let's see what happens Not my favorite time of day to trade right now though.....Whatcha got oRange???
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 27 KB
  • #18,943
  • Mar 3, 2009 6:31pm Mar 3, 2009 6:31pm
I think we are going to be seeing the retest of 1.2300 very soon. Once 1.2500 is broken, I am in favor of finding entry points down to the 1.2300 area. we are flirting with the long term trend line and the 0.0% Fibo line and once we get over that hump........I am seeing 1.2300
Keeping Life Simple
  • #18,944
  • Mar 3, 2009 6:59pm Mar 3, 2009 6:59pm
Quoting yisa
Hi Orange,

I have different SMA200 in daily chart with you.
the yellow one is SMA200.
Many apologies yisa...I was wrongly key-in the 89 and 200 data. It was exponential previously...sorry...
  • #18,945
  • Mar 3, 2009 7:33pm Mar 3, 2009 7:33pm
Quoting fishmen
Hi orange,

Could u explain in more detail of your trade? Why do u want to take it, is it because the long tails previously in H1 and crossover of ADX? What about the signal in 4H at the moment u take the trade? And how do u determine your TP? do u use trailing stop? Many Thanks!
fishmen...
sorry for the late reply...I already went to my bed when you ask me about this.

Okay...the answer is very simple. Before I took my trade last night, I saw a long sting-tail doji @ h4 (see red arrow in the chart below). Somebody is selling from above!!!

I took entry on the next candle in h4 (dash-blue vertical line) and using h1 entry to minimize my risk....just 5pips above the 21ema. You can see many long sting-tails also in h1 candles (see orange rectangular).

To be honest with you, I didn't wait for the ADX crossover. This was risky but as per the method and combined with the strength of price action (candlestick patterns/behaviours), I took the trade here. I always put price action at my first priority before I look to the others (indicators such MAs, macd, etc etc....)

Please take note that all my MAs value in h1 = h4. You can ask me later about that.

I always determine my TP @ 100% ROI. If my SL is 50pips...my TP must be 50pips too...That's my attitude. I rarely do my trade if I think I can't get full return of profit...BEWARE: DO NOT FOLLOW MY STYLE BECAUSE WE HAVE DIFFERENT STRATEGIES.

Follow the h4 rhythm and rules...you'll be fine... Hope this helps....

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 22 KB
Click to Enlarge Name: eu2.gif Size: 22 KB
  • #18,946
  • Mar 3, 2009 7:37pm Mar 3, 2009 7:37pm
Quoting Palmer
Hey things look like they are moving again. People making pips too! Good stuff. I was sidetracked for the majority of the day. My signature has been removed but the new people can click on my 'name' and see the website for the method.

Again, it looks like the pairs are clearing up so I'm hoping for a entry. EU is finding a lot of support right here at the 0 Fib line and long term support too so let's see what happens Not my favorite time of day to trade right now though.....Whatcha got oRange???
My fib 100.0% = your fib 0.0%. Got only 32pips last night mate!!! The fib level make me feel bad to keep my position open...how about yours?
  • #18,947
  • Mar 3, 2009 8:50pm Mar 3, 2009 8:50pm
Hi all...

I will make my view as simple as I can for this pair. Finally EU manage to break below fib 100.0% and you can see the h4 rhythming nicely within the dash-blue line I made.

Potential towards fib 123.6% I think...if the credit market show no progress...

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 22 KB
Click to Enlarge Name: eu2.gif Size: 25 KB
  • #18,948
  • Mar 3, 2009 9:01pm Mar 3, 2009 9:01pm
For those who are following AU progress...I found some interesting move in this pair. So, I see AU as this way:

As per d1, it seems that AU is currently trying to get out of the triangle TL and testing the fib 76.4% with the overall trend is bearish.

I make the dash-blue line channel to see the the up-to-date rhythm in h4.

Hope this helps.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.gif Size: 19 KB
Click to Enlarge Name: au2.gif Size: 25 KB
  • #18,949
  • Mar 3, 2009 9:12pm Mar 3, 2009 9:12pm
I am on the same page with you Orange, seems like we will be seeing the retest of the 1.2300 low of a few months back. Price has been riding the 8ema and 21ema on the 4H for the EUR/USD.

Orange:
That was a great trade you made based on price action and emotion of the market. For the newcomers, this is exactly what this method is built around. Any other indicators are secondary to price action and emotion of the market.

I would very much recommend those are new to this forum to study candle stick patterns while going through this thread as it will be a huge arsenal in your tools of trading with whatever method or system you use.

Update:
I am out with about 70 pips on the USD/JPY trade. My last lot is still positive and I am leaving it incase it runs to the 99.00 area and further.
Keeping Life Simple
  • #18,950
  • Mar 3, 2009 9:51pm Mar 3, 2009 9:51pm
Quoting time1300
I am on the same page with you Orange, seems like we will be seeing the retest of the 1.2300 low of a few months back. Price has been riding the 8ema and 21ema on the 4H for the EUR/USD.

Orange:
That was a great trade you made based on price action and emotion of the market. For the newcomers, this is exactly what this method is built around. Any other indicators are secondary to price action and emotion of the market.

I would very much recommend those are new to this forum to study candle stick patterns while going through this thread as...
time1300: thanks mate. You did very well for UJ too...

Also many thanks to Palmer, WG, and all of you here...and of course the never forgotten one...our BIG Phil...
  • #18,951
  • Mar 3, 2009 10:21pm Mar 3, 2009 10:21pm
Looking for SHORT opportunity but still need to be confirmed by the closing of the recent candle and macd signal.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 31 KB
  • #18,952
  • Mar 3, 2009 10:50pm Mar 3, 2009 10:50pm
Quoting orangeRANGE
Looking for SHORT opportunity but still need to be confirmed by the closing of the recent candle and macd signal.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Thanks orange for your explanation. currently, EU seems in strong bearish rethyme, price only traced back to 8EMA on H1. I am shorting it @1.2486.

ps, u said that your MA on 1H=4H, I can understand that 89 on 4H is roughly 21 on 1H, but how about the others?
  • #18,953
  • Mar 3, 2009 11:45pm Mar 3, 2009 11:45pm
Quoting fishmen
Thanks orange for your explanation. currently, EU seems in strong bearish rethyme, price only traced back to 8EMA on H1. I am shorting it @1.2486.

ps, u said that your MA on 1H=4H, I can understand that 89 on 4H is roughly 21 on 1H, but how about the others?
fish...I use MTFma file in h1 to get the same MAs value as in h4. If you have this mq4...here are their set up:-

For 89 and 200SMA
Variable : Value
Time Frame : 240
Period : 89 (for 89sma)/200 (for 200sma)
Method : 0
Applied price : 0
Backtesting : False

For 8,21 and 365EMA
Variable : Value
Time Frame : 240
Period : 8(for 8ema)/21 (for 21ema)/365 (for 365ema)
Method : 1
Applied Price : 0
Backtesting : False

Set this MTFma for h1 Visualization only. Eventualy, you will get the same MAs in h1 as in h4. You can see a clearer rhythm from h4 by using h1.

Hope this helps...
  • #18,954
  • Mar 4, 2009 1:08am Mar 4, 2009 1:08am
Hi my friend i want to learn your strategy can you please tell me where i can fin the rules for this strategy. how can i get in the market?

thank you
  • #18,955
  • Mar 4, 2009 1:21am Mar 4, 2009 1:21am
Quoting okranoblues
Hi my friend i want to learn your strategy can you please tell me where i can fin the rules for this strategy. how can i get in the market?

thank you
Good Morning,

All the information and rules on this strategy can be found on the 1st page:

http://www.forexfactory.com/showthread.php?t=14630

Please download and work your way through the pdf files before entering into any market pair.

Once you have worked through them, please ask an questions you wish.

cheers WG
  • #18,956
  • Mar 4, 2009 1:44am Mar 4, 2009 1:44am
Good Morning Everone,

I've been away the past few days with work - hence the lack of posts, sorry! Right I took a similar trade to orange which I will explain in my next post.

EUR/USD:
For me this pair is still 100% unsure about where it wants to go, the current down move has not been with conviction. Downward moves should be fast and with momentum if they are for real. The candle which closed below the 100% fib line was beginning to form a hammer so therefore this does NOT give us the green light. I was to see how price reacts around the blue area before entering short again.

I will explain my short yesterday in my next post.

Cheers WG
Attached Image (click to enlarge)
Click to Enlarge Name: eur4h(04-03-09).gif Size: 25 KB
  • #18,957
  • Mar 4, 2009 2:19am Mar 4, 2009 2:19am
Welshguy:

I would have to agree with you. The downward movement has not been with conviction. It is moving down but like an injured person just crawling slowly.

It's bed time for me so I wanted to post before I go to bed. I closed my Usd/Jpy trade with a total of 170 pips eventhough I was reluctant to close my last position or let it ride. I wish I had another position open so I could close one at the 200sma on the Daily and let the other one run if it runs past the 200sma.

Still can't complain as I rather take a 1 pip gain than a loss. There will always many many other chances to enter again. This is a game of contentment, as those who are content on their few consistent pips every week will still be running in the marathon. As soon as we let our greed control our trigger finger, we will soon drop out of the marathon.
Keeping Life Simple
  • #18,958
  • Mar 4, 2009 4:06am Mar 4, 2009 4:06am
Quoting orangeRANGE
fish...I use MTFma file in h1 to get the same MAs value as in h4. If you have this mq4...here are their set up:-

For 89 and 200SMA
Variable : Value
Time Frame : 240
Period : 89 (for 89sma)/200 (for 200sma)
Method : 0
Applied price : 0
Backtesting : False

For 8,21 and 365EMA
Variable : Value
Time Frame : 240
Period : 8(for 8ema)/21 (for 21ema)/365 (for 365ema)
Method : 1
Applied Price : 0
Backtesting : False

Set this MTFma for h1 Visualization only. Eventualy, you will get...
Thank u . can u share it with me?
  • #18,959
  • Mar 4, 2009 4:14am Mar 4, 2009 4:14am
Quoting welshguy2000
EUR/USD:
For me this pair is still 100% unsure about where it wants to go, the current down move has not been with conviction. Downward moves should be fast and with momentum if they are for real. The candle which closed below the 100% fib line was beginning to form a hammer so therefore this does NOT give us the green light. I was to see how price reacts around the blue area before entering short again....
m5, h1 and h4 are all unsure right now when I reply this post of yours...nice thought WG...c ya soon....
  • #18,960
  • Mar 4, 2009 4:22am Mar 4, 2009 4:22am
Quoting fishmen
Thank u . can u share it with me?
Here they are the MTFma files. Download it to your mt4 chart. Goodluck...
Attached File(s)
File Type: ex4 MTFMovingAverage.ex4   6 KB | 414 downloads
File Type: mq4 MTFMovingAverage.mq4   5 KB | 438 downloads
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