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4 Hour Strategy (MACD)

  • #20,401
  • Jul 21, 2009 6:03pm Jul 21, 2009 6:03pm
Quoting ssq
the reason for CT trade:
1.i think this is a false break .
2.a hammer+big bearish candle.
3.now the price retrace back to the half of the before candle.
4.if the price continue to go up,then i am wrong.
5.this time i hope the price will go to the channel's lower line.
too hurry to enter this trade. Price is approaching to the previous high, if it breaks the resistance successfully, it will start a new bullish trend. I would enter a short trade at least price has forms a lower high in 4h.
Plan your trades and trade your plans
  • #20,402
  • Jul 21, 2009 7:36pm Jul 21, 2009 7:36pm
hi ssg,

While reading through the past post. I remember seeing some trade that look quite similar to the current one you posted.

I think most of the trade plan is wait for the price to break 21 and then comeback to 21 and then will make lower high(if got coincide with any resistance/support line would be even best) and if supported by good candle pattern. Then can aim for next nearest support/resistance, round numbers or the final 89.

Very funny when reading so many posts. Alot of scenario seem similar.
I think that is why phillip encourage us to keep on reading the post.
Before that, i just glance and read through only to post 100 and then start trading. Now, i slowly reading from post 1 all the way. It may get abit dry sometimes because things seem to be repeating itself. But i know its good to read and read and understand. It does help alot

Regards
jin
  • #20,403
  • Jul 21, 2009 7:59pm Jul 21, 2009 7:59pm
I am still in the USD/JPY trade as I feel there might be some more energy to run this week. I did however close two positions @ 93.800 and 93.400 and I will let the rest run and take profits accordingly and I have set my stop loss @ break even so we are playing with banks money which is always good.

As far as the other currencies I am watching, the GBP/USD is kind of in a rising triangle wedge and we have a macd divergence on the 1H timeframe. My anticipation is to the upside as price is testing that lower support trend line of that triangle as you can see in the chart. On the other hand, it could break below that support line and we might be going short, so we never know......

The EUR/USD, price is still maintain within the 8 and 21ema so we have not had a close below 21ema thus the uptrend is still in play and price has retraced between the 8 and 21ema which according to our rules might be a place to look for an entry.

Again, no one can predict the market but all we can do is read the charts and interpret it and look for high probability trades that have been proven over and over again in history.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 4h.gif Size: 30 KB
Click to Enlarge Name: gbpusd 1h.gif Size: 32 KB
Keeping Life Simple
  • #20,404
  • Jul 21, 2009 8:23pm Jul 21, 2009 8:23pm
Quoting jinsen
hi ssg,


I think most of the trade plan is wait for the price to break 21 and then comeback to 21 and then will make lower high(if got coincide with any resistance/support line would be even best) and if supported by good candle pattern. Then can aim for next nearest support/resistance, round numbers or the final 89.

Regards
jin
Hi Jinsen. A few of the pairs are in exactly the position that you have described above. GU and EJ have broken through the 21, pulled back to the 21 and bouncing off.
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  • #20,405
  • Jul 21, 2009 9:49pm Jul 21, 2009 9:49pm
hi xenerix,

The chart you posted on eur/jpy. Do you consider that macd to be double top? or like say, it cross through zero and then back up again, you still consider it to be double top?

I remember one of the mp3 saying that doubletop is also a high probability trade. According to past post, in fact, not much people trade on double top.

Still slowly picking up and learning these system.

regards
jin
  • #20,406
  • Jul 21, 2009 11:59pm Jul 21, 2009 11:59pm
FF started a new forum i.e Commercial forum i think now Philip could come back.
  • #20,407
  • Jul 22, 2009 12:16am Jul 22, 2009 12:16am
Hurrrraahhhhhhhh
  • #20,408
  • Edited 12:44am Jul 22, 2009 12:33am | Edited 12:44am
Quoting nasir.khan
Hurrrraahhhhhhhh
Hurrah!!
We should all email Phil and ask him to come back. Phil did say a few weeks ago in the weekly anticipation that he wanted to hear from us so we should inundate him with lots of emails asking him to come back.
  • #20,409
  • Edited 2:53am Jul 22, 2009 12:52am | Edited 2:53am
Quoting jinsen
hi xenerix,

The chart you posted on eur/jpy. Do you consider that macd to be double top? or like say, it cross through zero and then back up again, you still consider it to be double top?

I remember one of the mp3 saying that doubletop is also a high probability trade. According to past post, in fact, not much people trade on double top.

Still slowly picking up and learning these system.

regards
jin
Since there is a higher high wave and a higher low wave, I wouldn't trust the macd double top just yet. I would look for a lower high and lower low wave in the price action which will probably accompany a sHs or triple top in the macd. sHs in the macd are very reliable.
  • #20,410
  • Edited 2:53am Jul 22, 2009 1:04am | Edited 2:53am
Quoting xeneric
Since there is a higher high wave and a higher low wave, I wouldn't trust the macd double top just yet. I would look for a lower high and lower low wave in the price action which will probably accompany a sHs or triple top in the macd. sHs in the macd are very reliable.
There is a sHs in the macd from the 5th July to the 13th July which shows a good reversal on EJ.
Attached Image (click to enlarge)
Click to Enlarge Name: ej4hr.gif Size: 32 KB
  • #20,411
  • Jul 22, 2009 1:07am Jul 22, 2009 1:07am
Got the TC in the GbpUsd realized half profit on MA's but i think there would be a sHs.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 1h.gif Size: 39 KB
  • #20,412
  • Jul 22, 2009 1:08am Jul 22, 2009 1:08am
i have been following the MACD strategy for some time now and i must say it is really profitable.
today seems to be a promising day as i have already taken out 48 pips profit.
from a trade i entered around 2am GMT.
it is better to miss than to loss pips
  • #20,413
  • Jul 22, 2009 1:17am Jul 22, 2009 1:17am
Quoting nasir.khan
Got the TC in the GbpUsd realized half profit on MA's but i think there would be a sHs.
But here is an other scenario.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4h.gif Size: 45 KB
  • #20,414
  • Jul 22, 2009 1:32am Jul 22, 2009 1:32am
Quoting 2pips
i have been following the MACD strategy for some time now and i must say it is really profitable.
today seems to be a promising day as i have already taken out 48 pips profit.
from a trade i entered around 2am GMT.
Good. Just out of interest what pair did you trade ?
  • #20,415
  • Jul 22, 2009 1:38am Jul 22, 2009 1:38am
gbpusd
am currently awaiting the reversal signal on macd
it is better to miss than to loss pips
  • #20,416
  • Jul 22, 2009 1:59am Jul 22, 2009 1:59am
I am sure gu will come down to 89ma IN 4H. Very very sure.
  • #20,417
  • Jul 22, 2009 2:20am Jul 22, 2009 2:20am
Quoting nasir.khan
Got the TC in the GbpUsd realized half profit on MA's but i think there would be a sHs.
Closed the other half at 1.6316.
  • #20,418
  • Jul 22, 2009 3:01am Jul 22, 2009 3:01am
Quoting nasir.khan
FF started a new forum i.e Commercial forum i think now Philip could come back.
I will definitely ask the master to visit my thread if true he is coming back soon...by the way I noticed this thread is already moved out from Trading System...
  • #20,419
  • Jul 22, 2009 3:16am Jul 22, 2009 3:16am
Just got this email from Interbank FX to say that their customers won't be affected by the new NFA FIFO rules.

Salt Lake City, July 20, 2009 — Interbank FX (IBFX.com), a worldwide provider of online foreign currency (Forex/FX) trading, announced today a solution for NFA Compliance Rule 2-43 affecting all NFA regulated Forex brokers.

Using our proprietary backoffice solutions, Interbank FX will allow our Meta Trader 4 platform to remain 100 percent compliant, while retaining order functionality and flexibility for customers trading. The MT4 platform will continue to function as our customers have experienced over the last several years. This includes the ability for customers to use fully functional Expert Advisors, Stops Losses, Take Profits, Trailing Stops and Limit Orders without making any needed adjustments.

"Certain US competitors have decided that their solution to the new FIFO rules are to move their customers overseas, rather than being compliant," said Todd Crosland, Chairman and President of Interbank FX. "At Interbank FX, we have embraced the NFA's efforts to help protect customers and provide a seamless solution without any changes to their current trading strategies."
  • #20,420
  • Jul 22, 2009 3:19am Jul 22, 2009 3:19am
Quoting xeneric
Just got this email from Interbank FX to say that their customers won't be affected by the new NFA FIFO rules.

Salt Lake City, July 20, 2009 — Interbank FX (IBFX.com), a worldwide provider of online foreign currency (Forex/FX) trading, announced today a solution for NFA Compliance Rule 2-43 affecting all NFA regulated Forex brokers.

[font=Consolas]Using our proprietary backoffice solutions, Interbank FX will allow our Meta Trader 4 platform to remain 100 percent compliant, while retaining order functionality and...
I got it this morning...
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