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4 Hour Strategy (MACD)

  • #3,381
  • Apr 10, 2007 3:28pm Apr 10, 2007 3:28pm
Quoting fxpertno1
I like that indicator you have showing all the macd snapshots. Is the link somewhere in this thread?
Oh yeah here is what fueled the move yesterday!
http://www.bloomberg.com/apps/news?p...Ntw&refer=home
Thanks for the link fxpertno. Still amazes me that eur/usd went up so much when that news is more Asian than Europe. Also, it's all speculative that it will hurt the dollar because so far there hasn't been any change in the trading between US/China. Just shows us how people trade on rumors before facts. IMHO that is. But for now, back to Phillip's system!
  • #3,382
  • Apr 10, 2007 3:36pm Apr 10, 2007 3:36pm
The US has been stumping the idea of a 'strong dollar policy' at every media op. But the truth is that the US administration really want s a lower dollar, speicifically against the asian currencies. The big 3 in detroit have banded together to form an 'anti- asian" alliance of their own, but they should focus on making better automobiles and stop whining about unfair trade practices. The dollar is fundamentally weak, that could well be the theme of 2007.
  • #3,383
  • Apr 10, 2007 3:53pm Apr 10, 2007 3:53pm
Quoting fxpertno1
The US has been stumping the idea of a 'strong dollar policy' at every media op. But the truth is that the US administration really want s a lower dollar, speicifically against the asian currencies. The big 3 in detroit have banded together to form an 'anti- asian" alliance of their own, but they should focus on making better automobiles and stop whining about unfair trade practices. The dollar is fundamentally weak, that could well be the theme of 2007.
Agreed about a weak $!!!
  • #3,384
  • Apr 10, 2007 4:18pm Apr 10, 2007 4:18pm
Quoting Benf
They are Long USD/CAD and USD/CHF and Short EUR/USD and EUR/GBP.
IMHO:
Long USD/CAD - counter-trend, continuation more likely
Long USD/CHF - agree, but there is no H4 confirmation on GMT candles yet.
Short EUR/USD - no H4 signal at all
Short EUR/GBP - counter-trend, a single bearish candle cannot be a signal of reversal/correction.
http://forexbarometer.com/graph/usd-chf-070410.gif
For now I see only the AUD/NZD H4 signal that is relatively reliable but don't trade this because of large 11 pips spread for this pair.

I have to agree with Fxpert. That is a pretty cool indicator/window showing all those snapshots. Is that something that is available on the site or something you would be willing to direct us towards?

Thanks!
  • #3,385
  • Apr 10, 2007 4:30pm Apr 10, 2007 4:30pm
Quoting Brunite
I have to agree with Fxpert. That is a pretty cool indicator/window showing all those snapshots. Is that something that is available on the site or something you would be willing to direct us towards?

Thanks!
I'll second that! Where can I get one?
  • #3,386
  • Apr 10, 2007 5:11pm Apr 10, 2007 5:11pm
Hi!

Out of curiosity, TwOeleven, you mentioned that you use two charts: mig and interbank. What charts do you base your decisions on? One or you choose better? I am asking because both of them have different candle close time. One can give better entry earlier.

RT is forming on eurusd. In my opinion it may be a good signal. Reasons: price at the resistance (last high), pin bar, spinner, enough room to 21ema. Any comments?

(mig charts)

Thanks

Woju2
  • #3,387
  • Apr 10, 2007 5:31pm Apr 10, 2007 5:31pm
Quoting woju2
Hi!

Out of curiosity, TwOeleven, you mentioned that you use two charts: mig and interbank. What charts do you base your decisions on? One or you choose better? I am asking because both of them have different candle close time. One can give better entry earlier.

RT is forming on eurusd. In my opinion it may be a good signal. Reasons: price at the resistance (last high), pin bar, spinner, enough room to 21ema. Any comments?

(mig charts)

Thanks

Woju2
Hello Woju2, you ask a good question...one not easily answered. I actually use both of them. I will take entries and exits off of both(sometimes it gets me earlier entries). But mainly I use them to confirm one another. If MIG shows a RT on a currency pair, I'll look at interbank to confirm what's forming. Or I'll look at interbank first and crosscheck it with MIG. Basically I want to make sure I'm actually making a good trade. You hear a lot of talk on here about whether or not you have a RT forming or a TC pattern. If I get the same signal on both charts...it helps confirm which direction I want to trade. Hope that helps and doesn't confuse you! Happy Trading!
  • #3,388
  • Apr 10, 2007 5:45pm Apr 10, 2007 5:45pm
Hi all. Im new. Saw the system, downloaded, printed, and read it. Looks great (thanks phil by the way). But I cant set my esignal Macd to 5 13 1 with out it looking fuzzy and going in all directions. Is anyone useing esignal, and knows what to do? What other platforms R people useing?
  • #3,389
  • Apr 10, 2007 6:04pm Apr 10, 2007 6:04pm
That fxbarometer, that indi. that 211 has costs $99. And looks like it is only for MT3.
osirisis try downloading a demo account from a broker that uses Metatrader, FXDD, Northfinance, Alpari, MIG etc. And then load the indi. And papertrade this strategy.
  • #3,390
  • Apr 10, 2007 7:11pm Apr 10, 2007 7:11pm
thx fx

I got a mig demo account and there is Fast ema a slow ema Macd sma on the MACD. will sma be ok instead of ema?
  • #3,391
  • Apr 10, 2007 7:26pm Apr 10, 2007 7:26pm
hi guyz

i saw a coming round top on 4hr chart when a new candle just opened at 1.3429 and now its 1.3423. is it correct?
But on the 1hr chart the macd is very close to zero lvl so i cant get a confirmation for that. does it mean i have to wait for the macd to get below 0 then it would tell us that it is a round top on the next candle

thank youuuu waiting for answer from xpert
  • #3,392
  • Apr 10, 2007 8:44pm Apr 10, 2007 8:44pm
Quoting Benf
They are Long USD/CAD and USD/CHF and Short EUR/USD and EUR/GBP.
IMHO:
Long USD/CAD - counter-trend, continuation more likely
Long USD/CHF - agree, but there is no H4 confirmation on GMT candles yet.
Short EUR/USD - no H4 signal at all
Short EUR/GBP - counter-trend, a single bearish candle cannot be a signal of reversal/correction.
http://forexbarometer.com/graph/usd-chf-070410.gif
For now I see only the AUD/NZD H4 signal that is relatively reliable but don't trade this because of large 11 pips spread for this pair.
.
hey Ben,

Koool indicators/chart,,,,,,,,,,,,,,, would you be able to tell us where did u find it ?
  • #3,393
  • Apr 10, 2007 8:46pm Apr 10, 2007 8:46pm
Welll on my 4 Hour bar there is 17 minutes left for closure. Once its closed I will short the Eur/Usd.

On the one hour the price has broken below the 21 ema and the macd has gone below 0, unless these reverse in the next 17 minutes I will go short.

cheers.
  • #3,394
  • Apr 10, 2007 9:14pm Apr 10, 2007 9:14pm
Short 1.34250.
SL 1.3460.
  • #3,395
  • Apr 10, 2007 9:31pm Apr 10, 2007 9:31pm
TURK,

I am in too @ 3424. But my s/l is closer: 3443, just above a TL.

Which is your TP?
  • #3,396
  • Apr 10, 2007 10:24pm Apr 10, 2007 10:24pm
Ok, I know I am like old and stuff and confuse easily, but I wonder why today is April 10, 2007 and the last post I did yesterday said it was done in July of 2006.....( just like this one will ) ... O_0 ... lol ... ya gotta love technology.. my poor wittle brain cell...Anyway, I like this system. Did a lot of back testing on it and it looks like it can really rake in the pips .... Ya'll be safe and happy Pipping... Good thing I typed that korectly ( heh ) yes, I know I spelt dat rong ...
  • #3,397
  • Apr 11, 2007 12:04am Apr 11, 2007 12:04am
After confirming RT on EUR/USD, AUD/USD, I was ready to go short at 0 GMT today.

Immediately after 0 GMT, when the Tokyo market opened, both pairs moved down straight to 8 ema in less than 2 hours.
I was waiting for my short positions to be executed at 4 points above the previous 4 hr candle close, expecting the prices going up and down b4 reaching 8 ema, but the prices never moved back. I was sidelined to watch my targets for both pairs met.

More big boys are using similar systems as this 4 hr MACD ?
  • #3,398
  • Apr 11, 2007 1:34am Apr 11, 2007 1:34am
Quoting kappa
After confirming RT on EUR/USD, AUD/USD, I was ready to go short at 0 GMT today.

Immediately after 0 GMT, when the Tokyo market opened, both pairs moved down straight to 8 ema in less than 2 hours.
I was waiting for my short positions to be executed at 4 points above the previous 4 hr candle close, expecting the prices going up and down b4 reaching 8 ema, but the prices never moved back. I was sidelined to watch my targets for both pairs met.

More big boys are using similar systems as this 4 hr MACD ?
Just my two cents worth. The challenge with your analysis is the choice of pairs to trade. Normally, the eur/usd doesn't move during the asian session, and the ad/usd does but slowly. The pairs to watch during the asian session are the gbp/usd, the jpy pairs, and the aud if there is a news event for it. The asian session is different than the other sessions as it likes to move when it wants to and is quite happy to get 30-40 pips for the day. then they take a break and wait for the opening of the euro session. Have been studying it for 2 years.
  • #3,399
  • Apr 11, 2007 2:01am Apr 11, 2007 2:01am
Hello Everyone,

I'm glad that I can now post inside the forum

Many thanks to Phillip for this cool strategy.

My number one concern is what to look for when a pattern is formed on MACD. I am not sure what to do. I have questions like, what should I look for on the 1hr chart to confirm the move on the 4hr? How do I determine if it's a good move or a bad move? Does the pattern have to be a very round bottom or a partially round bottom? Are V-Tops and bottoms two new patterns? I dont recall seeing them inside the first pdf doc.

Maybe the 4hr strategy pdf doc (located in the first post in thread) can be updated to with some tips and tricks so that it's all in a single document?

Many thanks
  • #3,400
  • Apr 11, 2007 3:02am Apr 11, 2007 3:02am
Quoting xwisdom
Hello Everyone,

I'm glad that I can now post inside the forum

Many thanks to Phillip for this cool strategy.

My number one concern is what to look for when a pattern is formed on MACD. I am not sure what to do. I have questions like, what should I look for on the 1hr chart to confirm the move on the 4hr? How do I determine if it's a good move or a bad move? Does the pattern have to be a very round bottom or a partially round bottom? Are V-Tops and bottoms two new patterns? I dont recall seeing them inside the first pdf doc.

Maybe the 4hr strategy pdf doc (located in the first post in thread) can be updated to with some tips and tricks so that it's all in a single document?

Many thanks
I have just read through all these pages in this forum. Listened to all Phil's mp3s.

I reccomend you to go through this forum from the first page. Read Phil's PDF file and listen to his audio file, daily wrapup first. That's quite enough to grasp the overall structure of his method. Then if you have time, you can go through other posts.

Thank you, Phil, and all other people in this forum. I feel that you are all my comrades in FX.
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