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4 Hour Strategy (MACD)

  • #19,421
  • Apr 13, 2009 5:35am Apr 13, 2009 5:35am
Quoting yuyudada
My MIG trade station didn't work well in recent days,so I download a new MT4. there are 5 decimal place instead of 4 decimal. how to change it?
This MACD coloured file is for 5 decimal points. Hope this helps.
Attached File(s)
File Type: ex4 MACD5decimal.ex4   1 KB | 438 downloads
File Type: mq4 MACD5decimal.mq4   1 KB | 547 downloads
  • #19,422
  • Apr 13, 2009 5:47am Apr 13, 2009 5:47am
Quoting orangeRANGE
This MACD coloured file is for 5 decimal points. Hope this helps.
Thank u! Check them please,those 2 MACD files doesn't work.
  • #19,423
  • Apr 13, 2009 9:56am Apr 13, 2009 9:56am
Quoting xeneric
A 200 MA represents the average actions of the people regarding the news they interpret of the last 200 days of news.
Due to I have some personal things these weeks I have to do, I don't focus on FX very much. I have been reading the posts I haven't read thesedays, find that some one discuss the MAs.

As to the MAs Phillip had set, the 89sma and 200sma are the two which are important. Because 89 is a fibo number, it plays an important role in Phillip's system as a decision of the rhythm. The 200 sma, I have used matlab to do an anlysis at eu & gu's daily chart in history. I use Fourier Trasnform which is a theory that every signal, despite consecutive or discrete, can be transformed into a serie of addings of sine waves, which means that you can find the dominion cycle. FX market is also can be considered as a wave, which is also can be transformed to by this method. I find the cycle is 200.

Thus, 200 sma I think is can be considered as the boundary of bull and bear, it has the same function at 4h chart, hope this can make sense
Plan your trades and trade your plans
  • #19,424
  • Apr 13, 2009 4:22pm Apr 13, 2009 4:22pm
Quoting saka
Due to I have some personal things these weeks I have to do, I don't focus on FX very much. I have been reading the posts I haven't read thesedays, find that some one discuss the MAs.

As to the MAs Phillip had set, the 89sma and 200sma are the two which are important. Because 89 is a fibo number, it plays an important role in Phillip's system as a decision of the rhythm. The 200 sma, I have used matlab to do an anlysis at eu & gu's daily chart in history. I use Fourier Trasnform which is a theory that every signal, despite consecutive or discrete,...
Wow saka i liked your explanations, nice
  • #19,425
  • Apr 13, 2009 5:15pm Apr 13, 2009 5:15pm
Trade for the day. Chart 1 is 4hr and chart 2 is the 1hr. Price closed above the 1.4850. Bought at the close of the candle on 1 hr, see arrow
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 0401309-4hr--nt.gif Size: 57 KB
Click to Enlarge Name: 0401309-4hr--nt,p2.gif Size: 53 KB
  • #19,426
  • Apr 13, 2009 11:24pm Apr 13, 2009 11:24pm
hi more,

For the 1 hr entry, i see your red arrow as your entry.
Do you enter on the opening of that candle? if you enter based on that, the macd signal havent coming out for tc yet.
or the break of that resistance line?

Why didnt you considered waiting for that candle to close as the macd signal for trigger on trend continuation pattern?

Prior to the red arrow. There is one doji and one candle with a tail that show seller is pushing the price lower. Would you consider that a risky trade?

Sorry for so many questions. i still learning and therefore would like to know some of the thought process before your trigger.

reg
jin
  • #19,427
  • Edited 5:09am Apr 14, 2009 1:22am | Edited 5:09am
UJ fell through trendline, went back to touch trendline and then bounced off again.
The 1 hour shows this more clearly. I have gone short UJ.

Entry 99.84
S/L 100.65

EDIT :
Closed half at 99.45 giving 38.8 pips
SET S/L to Break Even.

Got stopped out on 2nd half at B/E
Attached Images
  • #19,428
  • Apr 14, 2009 2:27am Apr 14, 2009 2:27am
Quoting yuyudada
Thank u! Check them please,those 2 MACD files doesn't work.
Then just get it from this link
http://www.fxtradeblog.com/tools.html#indicators
  • #19,429
  • Apr 14, 2009 2:56am Apr 14, 2009 2:56am
Quoting orangeRANGE
Hi all...

Immediate Resistance Levels:-
1) Fib 38.2%;
2) 89sma (H4); &
3) R2

Immediate Support Levels:-
1) 365ema (H4);
2) Price Level 1.31;
3) 200sma (H4); &
4) S1
Hi all...

The "Triangle of Correction" is in the edge now. A little move yesterday but EU still resisted @ 200sma of D1. Things getting more interesting now...but I still plan with no trading this week.

As per H4, price pulled back to 89sma but still manage to move inside the pink channel I created.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 28 KB
Click to Enlarge Name: eu2.gif Size: 27 KB
  • #19,430
  • Apr 14, 2009 10:13am Apr 14, 2009 10:13am
I am new at this system i just get short on gbpusd at a round top But stopped out.

1- TP missed by 3 pips.
2- Did not checked the News.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 18 KB
  • #19,431
  • Apr 14, 2009 3:10pm Apr 14, 2009 3:10pm
Sorry for the delay. I entered AFTER the close of that candle above the resistance. I was only looking for long trades since we are in a up move. I did not wait for a pullback because the consolidation period was long and I figured once it happened, it was going to happen fast and I wanted to be in. Feel free to ask questions. I'm still asking to those who have more experience than I. My greatest piece of advise is when you start live, start with very small amounts of $. That way when you lose, and you probably will, I will be small amount. Once you start to consistantly make $, you can risk more... take your time!!!!!!!!!!!!!!!
Raymond

Quoting jinsen
hi more,

For the 1 hr entry, i see your red arrow as your entry.
Do you enter on the opening of that candle? if you enter based on that, the macd signal havent coming out for tc yet.
or the break of that resistance line?

Why didnt you considered waiting for that candle to close as the macd signal for trigger on trend continuation pattern?

Prior to the red arrow. There is one doji and one candle with a tail that show seller is pushing the price lower. Would you consider that a risky trade?

Sorry for so many questions. i still learning and...
  • #19,432
  • Apr 14, 2009 9:36pm Apr 14, 2009 9:36pm
hi more,

Another question. For this 4hr macd, do you make your every trade to
a fixed risk percentage. What i mant is that sometimes the risk is only 30 pips. Maybe even 20pips. Do you still fixed for the same risk percentage for every trade?

Or it is best to trade on pips to pips.

reg
jin
  • #19,433
  • Apr 15, 2009 1:54am Apr 15, 2009 1:54am
Any trades for today?
THINK LIKE A FUNDAMENTALIST; TRADE LIKE A TECHNICIAN
  • #19,434
  • Edited 4:31am Apr 15, 2009 2:31am | Edited 4:31am
Quoting Reno_gr
Any trades for today?
Just took a short on GU (which is countertrend). There is a double top and divergence on the macd.

S/L 1.4942
Entry 1.48797
closed half for 33 pips and got stopped out of 2nd half at break even.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 24 KB
  • #19,435
  • Apr 15, 2009 3:06am Apr 15, 2009 3:06am
Hi all...

I SELL this pair because Evening Star is formed in the previous 3 candles @ H1.

Trade details:-
SELL @ 1.3225
SL @ 1.3275 (50pips risk = 19pips above 21ema of H4)
TP @ 1.3175 (50pips reward = 21pips above 365ema of H4)

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 39 KB
Click to Enlarge Name: eu2.gif Size: 40 KB
  • #19,436
  • Apr 15, 2009 4:20am Apr 15, 2009 4:20am
Good luck Orange,

I like the 3 little sisters that are there on H1 timeframe...hopefully they will work their magic for you

Quoting orangeRANGE
Hi all...

I SELL this pair because Evening Star is formed in the previous 3 candles @ H1.

Trade details:-
SELL @ 1.3225
SL @ 1.3275 (50pips risk = 19pips above 21ema of H4)
TP @ 1.3175 (50pips reward = 21pips above 365ema of H4)

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
  • #19,437
  • Apr 15, 2009 4:35am Apr 15, 2009 4:35am
Quoting BenStevo
Good luck Orange,

I like the 3 little sisters that are there on H1 timeframe...hopefully they will work their magic for you
Their magic still doesn't work out...so far
  • #19,438
  • Apr 15, 2009 4:45am Apr 15, 2009 4:45am
Hello all...

As per D1 below, EU still ranging within R2 and S1 Trend Lines. It is still too early to tell the market direction after this pair break this R2-S1 "triangle of correction" because S1 came from the lowest correction period last year...which means it could be a very strong support level.

The RSI of D1 also indicates the same story...uncertain direction for this pair since it began @ vertical aqua line with tick there.

Price squashed between 89sma and 200sma as in H4. Waiting would be the best thing to do if some of you follow this pair's progress.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 42 KB
Click to Enlarge Name: eu2.gif Size: 39 KB
  • #19,439
  • Apr 15, 2009 5:18am Apr 15, 2009 5:18am
Morning all,

I've had no trades since 6th. I have just taking an early long entry on the GBP/USD. Reasons for this trade are as follows:

1) 1H candle formed a hammer finding support off the 4H 21EMA
2) Next 1H candle formed a large bullish engulfing candle which has engulfed the last 16 candles.
3) 4H 8EMA has taken control with good angle & separation between itseld & 21EMA therefore should push prices quite abit higher.

Entry @ 1.4919
TP: 1.5099 (in between trend line & 121.3 fib extension)
Sl: 1.4740

Please have a look at the attached image. I will also be posting a video reviewing this trade later today so please subscribe to my youtube channel http://www.youtube.com/user/sionsmith to receive daily updates of the new uploads.

As always, any questions please ask.

Cheers WG
Attached Image (click to enlarge)
Click to Enlarge Name: gbp4h(15-04-09).gif Size: 22 KB
  • #19,440
  • Apr 15, 2009 5:38am Apr 15, 2009 5:38am
Quoting welshguy2000
Morning all,

I've had no trades since 6th. I have just taking an early long entry on the GBP/USD. Reasons for this trade are as follows:

1) 1H candle formed a hammer finding support off the 4H 21EMA
2) Next 1H candle formed a large bullish engulfing candle which has engulfed the last 16 candles.
3) 4H 8EMA has taken control with good angle & separation between itseld & 21EMA therefore should push prices quite abit higher.

Entry @ 1.4919
TP: 1.5099 (in between trend line & 121.3 fib extension)
Sl: 1.4740

Please have a look at the attached image....
Watching the way this reacted I have closed this position.

CLOSED @ 1.5034. ( + 115 pips)

I was expecting a slow rise - will use the 1H entry to re-enter if the opportunity arises. I will be posing the video review later today.

Cheers WG
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