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4 Hour Strategy (MACD)

  • #19,941
  • Jun 3, 2009 1:51am Jun 3, 2009 1:51am
In my own view I see that forex market is the most chaotic of all markets.That explains why we have more losers than winners in this arena.
I think it is not bad to visit www.babypips.com to learn the use of macd and for sound forex education.I also got awesome softwares and trading systems that work well from www.forexfloor.8k.com.
These two sites are more than enough for any trader that is frustrated and the good thing is that they offer everything free.I also thank all the good members here who have been giving out valuable information free of charge.We shall succeed together.
we cannot succeed without a well defined risk management.
  • #19,942
  • Jun 3, 2009 2:54am Jun 3, 2009 2:54am
Quoting welshguy2000
Khan, i've no really clue what system you are trading here? We take on momentum trends when the market is in rhythm which are confirmed by candle patterns and the macd change of colour. Saying that the macd is over sold is not a valid reason to enter a trade. Hope that helps?

Cheers WG
i did not said that anyone should enter the trade at these levels (IN CHARTS ABOVE) what i meant was that when price hit those levels and macd changes color we should be ready for the short ones.But what you are telling me is right also
things could get confusing and we have to keep thing simple as they are from day one and thanks for the advice.
  • #19,943
  • Jun 3, 2009 9:52am Jun 3, 2009 9:52am
Quoting welshguy2000
I have just taken profit on this trade @ 1.4300 + 64 pips

I will post a video review of this trade tomorrow.

Cheers WG
Good day everyone

Right I have just uploaded the video review for yesterdays trade which can be found:

Inserted Video


This video will hopefully help you understand how trading with the major trend can help protect you if you have not entered in the best position. Any comments questions, please ask

Cheers WG
  • #19,944
  • Jun 3, 2009 10:28am Jun 3, 2009 10:28am
Quoting welshguy2000
Good day everyone

Right I have just uploaded the video review for yesterdays trade which can be found:

http://www.youtube.com/watch?v=s63KxfiDEUE

This video will hopefully help you understand how trading with the major trend can help protect you if you have not entered in the best position. Any comments questions, please ask

Cheers WG

WG, one more time, many thanks for the videos. They're great.
  • #19,945
  • Jun 3, 2009 11:05am Jun 3, 2009 11:05am
hi WG, thanks for the very informative video! anyway just curious, are u a full time trader?
  • #19,946
  • Jun 3, 2009 11:09am Jun 3, 2009 11:09am
here is a possible Head and Shoulder pattern we could grab.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gu 1h.gif Size: 24 KB
  • #19,947
  • Jun 3, 2009 11:20am Jun 3, 2009 11:20am
Quoting nasir.khan
here is a possible Head and Shoulder pattern we could grab.
it does seem like strong support at the 1H 89 for EURUSD. you might be right but guess it's better to wait than predict? sorry I got too many lousy trades through predictions. ha

I will looking forward to a reversal from 0 for both pairs though
  • #19,948
  • Jun 3, 2009 12:27pm Jun 3, 2009 12:27pm
Does anyone have a trade station strategy written for the 4 hour MACD ?
It would be greatly
  • #19,949
  • Jun 3, 2009 1:04pm Jun 3, 2009 1:04pm
You mean this 4H MACD strategy adapted for securities? I presume it would be pretty much the same strategy, but I'm not into securities (yet), so I don't know for sure.

This strategy is based on market emotion, psychology, so it should work fine on other financial markets.

And for a colored MACD indicator you can go to Palmer's blog and download it from there.
  • #19,950
  • Jun 3, 2009 1:29pm Jun 3, 2009 1:29pm
Quoting Marubozu
You mean this 4H MACD strategy adapted for securities? I presume it would be pretty much the same strategy, but I'm not into securities (yet), so I don't know for sure.

This strategy is based on market emotion, psychology, so it should work fine on other financial markets.

And for a colored MACD indicator you can go to Palmer's blog and download it from there.
Thank you very much Marubozu. That is a helpful indicator.
But do you happen to know if anyone has written a strategy for
automated trading?
  • #19,951
  • Jun 3, 2009 1:33pm Jun 3, 2009 1:33pm
I have no idea. Sorry.
  • #19,952
  • Jun 3, 2009 10:24pm Jun 3, 2009 10:24pm
is EURUSD showing a reversal now? or is it too early to buy at the next candle. it is facing some resistance at 21MA, so is it better to wait for it to cross before entering?
  • #19,953
  • Jun 4, 2009 2:07am Jun 4, 2009 2:07am
Hello

maybe we can make a live chatroom ? something similiar to chat on forex4noobs.com ?
  • #19,954
  • Jun 4, 2009 2:53am Jun 4, 2009 2:53am
Head and shoulder in EU.
Attached Image (click to enlarge)
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  • #19,955
  • Edited 6:22am Jun 4, 2009 2:58am | Edited 6:22am
Quoting nasir.khan
here is a possible Head and Shoulder pattern we could grab.
Agree with your analysis but with 3 rate decisions coming up today - BOE, ECB and BOC, I think I will stay out today. I have already been caught out more than once this week by the volatility.Then tomorrow we have NFP too.

Good luck. Looks like your right shoulder on the sHs could be being formed now. I meant forming now.
  • #19,956
  • Jun 4, 2009 3:14am Jun 4, 2009 3:14am
EU has completed its S-H-S but GU is going for it (there was a news also Halifax HPI m/m) or maybe this one wont be Parallel.
  • #19,957
  • Jun 4, 2009 3:15am Jun 4, 2009 3:15am
Quoting nasir.khan
Head and shoulder in EU.
i like the look of your chart, the candle sticks seem to fall on your indicators, and very well appear to be the right trends, is it a special indicator software, cos i dont think its on the normall meta4 platform,pls reply
  • #19,958
  • Jun 4, 2009 3:27am Jun 4, 2009 3:27am
Quoting kenasmic
i like the look of your chart, the candle sticks seem to fall on your indicators, and very well appear to be the right trends, is it a special indicator software, cos i dont think its on the normall meta4 platform,pls reply
I am using FOREX mt4 and i have also noticed that candles are bit different than the other mt4 platfoms its a common thing sometimes it gives signal when other platforms dont or a bit earlier but sometimes its late also.
  • #19,959
  • Jun 4, 2009 3:58am Jun 4, 2009 3:58am
Quoting xeneric
Agree with your analysis but with 3 rate decisions coming up today - BOE, ECB and BOC, I think I will stay out today. I have already been caught out more than once this week by the volatility.Then tomorrow we have NFP too.

Good luck. Looks like your right shoulder on the sHs could be being formed now.
Thanks but i made some good trades during this week.
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  • #19,960
  • Jun 4, 2009 5:35am Jun 4, 2009 5:35am
Quoting nasir.khan
Thanks but i made some good trades during this week.
great trading Nasir Khan well done!
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