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4 Hour Strategy (MACD)

  • #19,281
  • Edited 7:55pm Mar 31, 2009 7:08pm | Edited 7:55pm
Quoting welshguy2000
Ritchie Mann: Sorry one of the most experienced traders that uses the system has not come forward sooner.
The most experienced trader on this system has come forward. Phillip himself has answered Richie Mann's doubts about the system in posts 17609, 17610 and 17617 last year. See also Palmer's post 17602.

From reading your posts, it seems to me, Richie Mann, that you set up this member profile on FF just to attack the 4 hr MACD system.
  • #19,282
  • Mar 31, 2009 7:59pm Mar 31, 2009 7:59pm
With all this conversation I hope someone took the TC on the 4 hrs. That's great rhythm right there.
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  • #19,283
  • Mar 31, 2009 8:03pm Mar 31, 2009 8:03pm
Quoting xeneric
The most experienced trader on this system has come forward. Phillip himself has answered Richie Mann's doubts about the system in posts 17609, 17610 and 17617 last year. See also Palmer's post 17602.

From reading your posts, it seems to me, Richie Mann, that you set up this member profile on FF just to attack the 4 hr MACD system.
lol...you noticed the previous post too
  • #19,284
  • Edited 8:37pm Mar 31, 2009 8:18pm | Edited 8:37pm
Quoting Morelands
With all this conversation I hope someone took the TC on the 4 hrs. That's great rhythm right there.
Yes, I took the trade when it bounced off the 21 EMA. Am up 72 pips. You are right. Great rhythm there.
  • #19,285
  • Mar 31, 2009 9:14pm Mar 31, 2009 9:14pm
H1 chart.

EUR breakthrough a head shoulder, next candle come back to test the neckline. Then going down. Great rhythm. After break 89, back to 21 then carry on its direction.

H4 shows TC.
short at 1.3223, TP: 1.3103 (EMA365).
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  • #19,286
  • Apr 1, 2009 12:10am Apr 1, 2009 12:10am
Quoting orangeRANGE
Hello all...

As NFP is ahead of us, definitely there will be no trade for me for this pair this week. Below is how I see this pair's market direction at the moment.

d1
I hope all of us here still can see the bigger picture from this TF because those arrows (red and green) together with fib levels are the resistance/ support levels for EU.

Simply put, EU is still moving within the "triangle of correction". So, no definite rally,and no nose diving market until this...
Whoaaa...whoaaa...whoaaa...

What is it all about this Ritchie Mann person? Hahahaha...

Ritchie: Read the lessons before you "attack" us here...I know where Phillip get 89sma, 200sma and 365ema. Wanna try me?

Back to business....

As in my previous post, EU does ranging within 1.34-1.31 price level...so far...

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #19,287
  • Apr 1, 2009 12:22am Apr 1, 2009 12:22am
Quoting Ritchie Mann
I put some questions which are rather simple. What are the reasons behind the EMAs? When to enter? If there are so many succesful traders, why are they hiding? I know of no one who came here and said that after one year of following this system they made 150+ pips a month. What I see is people who ask when to enter and if the setup is correct. This should be clear by now.
Are you depressed or something?

I can get more than 300pips per month using this method. And I am just demo test this method within a month before I start using it intensively.

Obviously you are not reading this thread's lessons from Page 1. If you are looking for a method that can tell you the exact market direction in future, that should be a Holy Grail of Forex. Hahahaha....

I know how Phillip get the 89sma, 200sma and 365ema. Wanna try me?
  • #19,288
  • Apr 1, 2009 4:03am Apr 1, 2009 4:03am
The answer is very simple theres no specific reason behind the EMAs...
what makes an indicator or a moving average work, the Fib for instance, is that most people believe in it.
Moving averages by concept are lagging indicator they follow the price but they work because most people use them they are the most popular tool its as simple as that I dont think you need to dig deeper.

as for this strategy its about identifying the rhythm of the market, and moving averages are the best and most SIMPLE way to do it.


Quoting Ritchie Mann
Yes, I'm trying to find an edge. I'm trying to understand the basics of this system.

I put some questions which are rather simple. What are the reasons behind the EMAs? When to enter? If there are so many succesful traders, why are they hiding? I know of no one who came here and said that after one year of following this system they made 150+ pips a month. What I see is people who ask when to enter and if the setup is correct. This should be clear by now.
  • #19,289
  • Apr 1, 2009 5:43am Apr 1, 2009 5:43am
Sell eurusd 0.1slot @1.3298 sl 1.3350 tp 1.3250 +48pips 0331 16:11---17:08
Sell eurusd [font=Times New Roman][size=3][color=#0000ff]0.1slot @1.3300[/color][/size][/font] sl 1.3350 tp 1.3140 +63pips +55.5pips 0331 16:12—0401 12:08
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the fifth right trade from 2009/1/1(five trades total)
  • #19,290
  • Apr 1, 2009 6:56am Apr 1, 2009 6:56am
Morning all,

I have taken a TC on the GBP/USD on the close of the last 4H candle. The reasons for this trade are as follows:
1) Strong bullish engulfing candle close of the last 4H candle.
2) Price action has found support around the 8EMA.
3) A close about the current box range.
4) Price action is not in a upward channel (see attached image)

Entry @: 1.4390
SL: 1.4170 (large due to channel target)
TP: 1.4586 (primary) 1.4777 (secondary)

Any questions please ask.

Cheers WG

Please Note: The SL I have used here does NOT follow the rules, reason for this is current market conditions & the box range which price action has just broke out of.
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  • #19,291
  • Edited 7:57am Apr 1, 2009 7:36am | Edited 7:57am
Quoting welshguy2000
Morning all,

I have taken a TC on the GBP/USD on the close of the last 4H candle. The reasons for this trade are as follows:
1) Strong bullish engulfing candle close of the last 4H candle.
2) Price action has found support around the 8EMA.
3) A close about the current box range.
4) Price action is not in a upward channel (see attached image)

Entry @: 1.4390
SL: 1.4170...
Haha!I'm in this trade too!
Entry @: 1.4393
To be honest, I was doubtful of it, but I set my heart at rest now!
But I want to ask you the reason you set ur SL and TP.
I guess you set SL below the blue upward trend line? and I'm confusing with box range you said,Could you please post picture for me? Thank you!
  • #19,292
  • Apr 1, 2009 8:37am Apr 1, 2009 8:37am
Quoting fishmen
H1 chart.

EUR breakthrough a head shoulder, next candle come back to test the neckline. Then going down. Great rhythm. After break 89, back to 21 then carry on its direction.

H4 shows TC.
short at 1.3223, TP: 1.3103 (EMA365).
Stop down move at 1.3165. got the first 40 pips, the next target at 1.3143 was not hit and stopped out with 5 pips, the third target at 1.3103 was stopped out with -20pips. Totally 25pips. I am too greedy. Should have set to BE after 40pips.
  • #19,293
  • Apr 1, 2009 8:40am Apr 1, 2009 8:40am
right
the trade is still runnung ,seems 200sma is now breaked up ,SL is just below 200
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  • #19,294
  • Apr 1, 2009 1:04pm Apr 1, 2009 1:04pm
Quoting orangeRANGE
I know how Phillip get the 89sma, 200sma and 365ema. Wanna try me?
Well, start with 89EMA.
It is a Fibonacci number but the formula is EMA which is not a moving average.
  • #19,295
  • Apr 2, 2009 2:43am Apr 2, 2009 2:43am
Quoting Ritchie Mann
Well, start with 89EMA.
It is a Fibonacci number but the formula is EMA which is not a moving average.
It's not 89EMA...but 89sma...

89sma = January + July + December + FEBRUARY

200sma = (March + May + August + October) + (April + June + September + November) + FEBRUARY

I think Phillip Nel found these two MAs based on simple and logic explaination. Does these make sense to you now?

Look...if the method in this thread doesn't suit your trading style, maybe you should look for the others. Save your own time.
  • #19,296
  • Apr 2, 2009 2:55am Apr 2, 2009 2:55am
Hello all...

As in my previous two posts...look like EU is still "sitting and waiting" between fib 38.2% and 365ema. This is as what I predicted for this pair earlier this week. No clear direction yet...

As in my h4, I still keep all the res/sup levels unchanged until the price make some move against them. So, still no trading for me this week.

We can get a better PA in h1 below.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #19,297
  • Edited 3:39am Apr 2, 2009 3:25am | Edited 3:39am
Quoting welshguy2000
Morning all,

I have taken a TC on the GBP/USD on the close of the last 4H candle. The reasons for this trade are as follows:
1) Strong bullish engulfing candle close of the last 4H candle.
2) Price action has found support around the 8EMA.
3) A close about the current box range.
4) Price action is not in a upward channel (see attached image)

Entry @: 1.4390
SL: 1.4170 (large due to channel target)
TP: 1.4586 (primary) 1.4777 (secondary)

Any questions please ask.

Cheers WG
Great trade ! Well planned and well executed. I see your primary TP got hit. Congratulations on your almost 200 pips.
  • #19,298
  • Apr 2, 2009 4:19am Apr 2, 2009 4:19am
Quoting welshguy2000
Morning all,

I have taken a TC on the GBP/USD on the close of the last 4H candle. The reasons for this trade are as follows:

Entry @: 1.4390
SL: 1.4170 (large due to channel target)
TP: 1.4586 (primary) 1.4777 (secondary)
Closed my position at my primary target due to G20 which has started today.

Closed @ 1.4586 ( + 196 pips )

I keep promising videos, I have only this morning found some software to record so will go through this trade tonight via a video.

Cheers WG
  • #19,299
  • Apr 2, 2009 4:23am Apr 2, 2009 4:23am
Quoting welshguy2000
Closed my position at my primary target due to G20 which has started today.

Closed @ 1.4586 ( + 196 pips )

I keep promising videos, I have only this morning found some software to record so will go through this trade tonight via a video.

Cheers WG
Bore da welshguy2000,

I think the video commentary would be much appreciated by all readers of the thread. Keep up!
  • #19,300
  • Edited 5:38am Apr 2, 2009 4:38am | Edited 5:38am
Quoting giotto
Bore da welshguy2000,

I think the video commentary would be much appreciated by all readers of the thread. Keep up!
Agreed. Looking forwards to it. Thanks.
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