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4 Hour Strategy (MACD)

  • #20,061
  • Jun 12, 2009 6:22am Jun 12, 2009 6:22am
Quoting ssq
buy 0.2 slots eurusd
first 0.1slot get +46pips
so set the second 0.1slot's stop loss as -46pips
the second slot was stopped out ,so totally get 0 pips.
Why wont you set your SL on BE it's happened second time to you.
  • #20,062
  • Jun 12, 2009 6:23am Jun 12, 2009 6:23am
thanks for the strategy
  • #20,063
  • Jun 12, 2009 8:26am Jun 12, 2009 8:26am
Quoting welshguy2000
Just closed this based on the 5M set up.

Closed @ 1.6550 + 108 pips

I will post a video review of this trade tomorrow.

Cheers WG
The video review of yesterdays GBP/USD TC has now been uploaded:

http://www.youtube.com/watch?v=OnEBldtij7o

Please rate and comment on the video over on youtube, if you have any questions please ask,

Cheers WG
  • #20,064
  • Jun 12, 2009 6:54pm Jun 12, 2009 6:54pm
Quoting nasir.khan
Why wont you set your SL on BE it's happened second time to you.
i am thinking !!!

but i think i give the market a chance to run.
  • #20,065
  • Jun 12, 2009 7:42pm Jun 12, 2009 7:42pm
i am looking for template for this system
  • #20,066
  • Jun 13, 2009 2:31am Jun 13, 2009 2:31am
Quoting yuan83
hahah not really . long story .lol but anyway, is that counted as a divergence on the MACD which actually would have a good signal to long in the previous previous candle?
There is some very good information on trading divergences at http://www.babypips.com/school/divergence_trading.html In fact the whole site is very good for beginners.
  • #20,067
  • Jun 13, 2009 2:56am Jun 13, 2009 2:56am
Another good week i dont know what has happened to me suddenly every trade i take just starts running in my way.

Maybe the market is in trending mode or so?

But i hope it continuous.
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  • #20,068
  • Jun 13, 2009 7:59am Jun 13, 2009 7:59am
Quoting xeneric
There is some very good information on trading divergences at http://www.babypips.com/school/divergence_trading.html In fact the whole site is very good for beginners.
Good call, XENERIC.
Do you trade divergences?
THINK LIKE A FUNDAMENTALIST; TRADE LIKE A TECHNICIAN
  • #20,069
  • Jun 13, 2009 9:54am Jun 13, 2009 9:54am
Quoting Reno_gr
Good call, XENERIC.
Do you trade divergences?
think divergence is part of this game and they often give very deadly signals
  • #20,070
  • Jun 13, 2009 10:30am Jun 13, 2009 10:30am
Here is a trade I took on Thurs. Sorry so late, but sometimes my schedule is a little busy. I took this trade at the beginning of the Asian session, which I typically don't do. I thought there was going to be a breakout of the triangle to the top. Price broke the resistance, came back to it and I thought was going to continue upwards (there was a TC on the 1 hr). However, it did not and I lost 15 pips, but it could have been a lot worse. It was an early entry so you have to be careful and watch the price action. I didn't like to lower high on the 5 min chart and exited. Other than the decision to take a trade during the asian session, I'm happy with my decision making. And when you make an early entry, your winning % is lower, so be careful. There are 3 charts, so the 3rd/5min is below
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  • #20,071
  • Jun 13, 2009 10:31am Jun 13, 2009 10:31am
Here is the 5 min price action
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  • #20,072
  • Edited 8:30pm Jun 13, 2009 8:12pm | Edited 8:30pm
Quoting Morelands
Here is a trade I took on Thurs. Sorry so late, but sometimes my schedule is a little busy. I took this trade at the beginning of the Asian session, which I typically don't do. I thought there was going to be a breakout of the triangle to the top. Price broke the resistance, came back to it and I thought was going to continue upwards (there was a TC on the 1 hr). However, it did not and I lost 15 pips, but it could have been a lot worse.
Yes, I have the same triangle and thought the same thing. The Asian session has been completely contrary to the European session recently so this week has completely confused me. Price is stuck in a bit of a range. There seems to be little momentum to push it out of the range.
  • #20,073
  • Jun 13, 2009 8:25pm Jun 13, 2009 8:25pm
Quoting nasir.khan
Another good week i dont know what has happened to me suddenly every trade i take just starts running in my way.

Maybe the market is in trending mode or so?

But i hope it continuous.
Could you lend me your lucky charm ?

It is actually a very tough time to trade with the right shoulder of EU being formed and all the moving averages of both EU and GU coming together and bunching up. Right now, I would say that there is no rhythm in the market as far as the 4 hr charts are concerned.

You made some pips in spite of all that. Good for you.
  • #20,074
  • Jun 13, 2009 8:27pm Jun 13, 2009 8:27pm
Quoting Reno_gr
Good call, XENERIC.
Do you trade divergences?
Sometimes, but keep in mind that trading divergences is CT.
  • #20,075
  • Jun 14, 2009 10:44am Jun 14, 2009 10:44am
Quoting xeneric
Sometimes, but keep in mind that trading divergences is CT.
You're absolutely right!
But CT (high risk trade) is not for me.
THINK LIKE A FUNDAMENTALIST; TRADE LIKE A TECHNICIAN
  • #20,076
  • Jun 14, 2009 9:56pm Jun 14, 2009 9:56pm
Hello all,

It is great to see many new faces and some old ones as well and its great to see the forum staying focused on the 4H method, I have been away without a computer and traveling and I am glad to see many of you keeping the forum going strong.

Glad to be back and seeing all making those nice pips.
Keeping Life Simple
  • #20,077
  • Jun 15, 2009 2:58am Jun 15, 2009 2:58am
Hello aLL,

I have been making my through this forum for a couple of days now and am certainly impressed with Phillips methodology. I will begin to demo immediately. Can anyone tell me if they have used this method on a 1H TF, and if so how they found it. From my initial testing it would appear to work just as well, any comments appreciated.

Regards,

Anthony
  • #20,078
  • Jun 15, 2009 3:13am Jun 15, 2009 3:13am
Quoting aajduk
Hello aLL,

I have been making my through this forum for a couple of days now and am certainly impressed with Phillips methodology. I will begin to demo immediately. Can anyone tell me if they have used this method on a 1H TF, and if so how they found it. From my initial testing it would appear to work just as well, any comments appreciated.

Regards,

Anthony
Welcome to the thread i am trading this system on 1H TF since 1-jun.

http://nasirkhan.mt4stats.com/
  • #20,079
  • Jun 15, 2009 1:59pm Jun 15, 2009 1:59pm
Evening all,

I have been keeping a close eye on the GBP/USD over today, alot of people are bullish about the near term however the candles in my opinion do NOT agree, here are the reasons for entering the trade:

1) 4H close below previous support at the 1.6290 zone.
2) 4H shooting star formation (almost a mini evening star) showing lack of momentum.
3) 1D has placed a lower high and double top, together with the 8EMA flatting off.
4) 1H showing a lower high and lower low, which indicates lack of buying momentum & rhythm.

Entry @ 1.6296
TP: 1.6140 zone (From daily & 21EMA on Daily)
Sl: 1.6415

I will post a video reviewing this trade when its over.

Please support my youtube channel by rating / commenting on the the video's:

Cheers WG
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  • #20,080
  • Jun 15, 2009 4:38pm Jun 15, 2009 4:38pm
Quoting welshguy2000
Evening all,
...

Please support my youtube channel by rating / commenting on the the video's:

....

Cheers WG
Hi WG, thank you so much for your job as always.
Sorry for my "english listening" is not so good, but I thing I heard in this last video you need votes and rating to publish more video on your channel.. is this correct ? In any case tomorrow morning I'll spent some time to rate all your channel... ;-)
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