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4 Hour Strategy (MACD)

  • #20,481
  • Jul 25, 2009 9:31am Jul 25, 2009 9:31am
  •  nerd
  • | Joined Jul 2008 | Status: Fate loves the fearless. | 48 Posts
Quoting nasir.khan
I think you have caught flu or i guess the nerd's nose stay's like this.lol
Haha! itz da forex flue, i guess.


Quote
I listened to some MP3's and Phillip talked about some special candles that can help you with choosing - to get in or stay out of trade.

*I'm familiar with Doji candles, Marubozu, spinning tops. Is there anything else?
*I also would like to know if there are patterns I'm not familiar of. I know Hanging man, Hammer, Inverted hammer, Shooting star.

I've heard about evening star but I have no idea what it is.

So if anyone of you have time to help me please post if you know something I don't know about.

Regards, Trader100
Morning and Evening Star are two of the reversal patterns. Morning Star is the bullish reversal candle and Evening Star is the bearish one.

Morning star is made of a long black body followed by a small body which gaps lower. The third day is a white body that moves into the first day's black body. An ideal Morning Star would have a gap before and after the middle (star) day's body. However, gaps in forex are pretty much rare. Evening star is the opposite. Take a look at the picture.

Regards.
Attached Image
  • #20,482
  • Jul 25, 2009 9:38am Jul 25, 2009 9:38am
Nerd,

You should google Candlestick patterns and learn ALL the formations as a part of the entry on the 4Hr system. the appearance of different formations can add to your decision of if you should take a trade or not.

It is a great system. Good luck.
  • #20,483
  • Jul 25, 2009 10:45am Jul 25, 2009 10:45am
Quoting Trader100
Hi.

I listened to some MP3's and Phillip talked about some special candles that can help you with choosing - to get in or stay out of trade.

*I'm familiar with Doji candles, Marubozu, spinning tops. Is there anything else?
*I also would like to know if there are patterns I'm not familiar of. I know Hanging man, Hammer, Inverted hammer, Shooting star.

I've heard about evening star but I have no idea what it is.

So if anyone of you have time to help me please post if you know something I don't know about.

Regards, Trader100

The candlestick patterns that are important for macd entries are are mentioned by Philip are here in this zip file there are many more patterns on web just google it.
  • #20,484
  • Jul 26, 2009 9:57am Jul 26, 2009 9:57am
Quoting welshguy2000

My TP was hit earlier this morning - + 97 pips

Cheers WG
Good day all,

I have just uploaded my latest video reviewing the long TC I took on the GBP/USD on the 23/07/09

Inserted Video


Please rate and make comments as it really does help others to learn. You will find many more on my channel, subscribe to receive updates.

Cheers WG
  • #20,485
  • Jul 26, 2009 10:22am Jul 26, 2009 10:22am
  •  nerd
  • | Joined Jul 2008 | Status: Fate loves the fearless. | 48 Posts
Quoting welshguy2000
Good day all,

I have just uploaded my latest video reviewing the long TC I took on the GBP/USD on the 23/07/09

http://www.youtube.com/watch?v=k21l7yW4fk4

Please rate and make comments as it really does help others to learn. You will find many more on my channel, subscribe to receive updates.

Cheers WG
thanks for the effort WG.

very helpful.
  • #20,486
  • Jul 26, 2009 4:28pm Jul 26, 2009 4:28pm
I have been trading Phillip's 4 hour system for a few weeks now. Read the basic lessons and stuff then demo'd it and then started live with small lots. definitely works very well but I sort of got stuck in a small loss and then small profit situation.

Then I remembered in one of the lessons Phillip said it might be good to read a lot of the thread to help fine-tune the trades because so many people asked questions that he answered.

Have been doing it for a couple of days and got A LOT OF FINE-TUNING advise. Still need to practice it and be patient but insight grows as one reads about all the advice and issues that Phillip helped other people with.

It takes a bit of effort and time but if one is serious enough the rewards is amazing.

Just my opinion for people starting here and seeing the potential and wanting to delve deeper.

Happy trading!!!
Never give up !!!
  • #20,487
  • Jul 26, 2009 11:09pm Jul 26, 2009 11:09pm
Quoting theunis
I have been trading Phillip's 4 hour system for a few weeks now. Read the basic lessons and stuff then demo'd it and then started live with small lots. definitely works very well but I sort of got stuck in a small loss and then small profit situation.

Then I remembered in one of the lessons Phillip said it might be good to read a lot of the thread to help fine-tune the trades because so many people asked questions that he answered.

Have been doing it for a couple of days and got A LOT OF FINE-TUNING advise. Still need to practice it and...
Yes it is an amazing system and remember if you are breaking even in this difficult period you are actually doing great.
  • #20,488
  • Jul 27, 2009 2:31am Jul 27, 2009 2:31am
Quoting welshguy2000
Morning all,

Entry @ 1.6464
TP: 1.6370 zone
Sl: 1.6602

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

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

www.youtube.com/sionsmith

Cheers WG
I came out of this trade late last night after the gap up - exit @ 1.6405

+ 59 pips I will post a video review of this trade later today.

Cheers WG
  • #20,489
  • Jul 27, 2009 4:20am Jul 27, 2009 4:20am
Hello traders!

I'm long in GBP/JPY.

Reasons:
*Trend continuation pattern on H4 (See picture)
*Trend continuation pattern on H1 (See picture)
*GBP/JPY is in up trend
*Very nice R:R. 120Pip profit/45Pip Stoploss
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  • #20,490
  • Jul 27, 2009 4:56am Jul 27, 2009 4:56am
Hello every one TC's coming in EU and GU 1h.
  • #20,491
  • Jul 27, 2009 8:23am Jul 27, 2009 8:23am
Hello

I want know if somebody has a EA/Script to close opened orders partially and to put trailing stop.

I want to move ST and TP level only moving the lines positions in the chart with the mouse.

Thank's a lot
Suba
  • #20,492
  • Jul 27, 2009 9:09am Jul 27, 2009 9:09am
1) Look like 1.4300 price has some resistance power.
2) A monthly R/S line is also there.

Look like only got two choice.
a) Anticipate a long for breakout. Be sure to put breakeven as soon as possible as there seem to have resistance obstacles based on the two factor. I missed the entry earlier

b) Wait till the resistance black line is breakthough and come back and retest for a tc pattern.

If got other option. pls do share also. Thank you.
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  • #20,493
  • Jul 27, 2009 11:22am Jul 27, 2009 11:22am
Eur/Usd
Will we have turning agresive RT to TC signal,retrasing from 21 EMA. That is question I am looking in last 2 hours and my personal opinion is that we will have and we will have posibility to prepare for long /TC/ from 21Ema. I think that the big red candle wich was forming on last 4hrs candle is because the news in 17.00 who support the Usd but I ho[pe things will changed. Only time will show.Just I wanted to share my thoughts for that pair for the moment.
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  • #20,494
  • Jul 27, 2009 1:48pm Jul 27, 2009 1:48pm
  •  nerd
  • | Joined Jul 2008 | Status: Fate loves the fearless. | 48 Posts
As Phillip used to say that rangebound activity indicates alot of emotions building up. I think pretty much the same is happening in EURUSD if u look at the daily charts. The pair is tradin in a box for the past week or so and I believe a breakout is near. Bias is ofcourse, towards the upside BUT we shouldnt ignore dat a valid break of the declining trendline (blue in charts) is still not dere and 78.6% (1.4719 to 1.2456 move) retracement level is also present at 1.4234. Both dese levels are currently acting as great resistances and may hinder bullish movement.

Another thing which I noticed is dis dat euro is also appearing to form a TC on daily charts. Dis might give some confidence taking bullish trades, however, nothing can be said for certain until da day is complete.

So, my friends as far as dis pair is concerned, im keepin my fingers crossed !
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  • #20,495
  • Jul 27, 2009 1:52pm Jul 27, 2009 1:52pm
  •  nerd
  • | Joined Jul 2008 | Status: Fate loves the fearless. | 48 Posts
Quoting Suba
Hello

I want know if somebody has a EA/Script to close opened orders partially and to put trailing stop.

I want to move ST and TP level only moving the lines positions in the chart with the mouse.

Thank's a lot
Suba
I know a Partial Close EA for IBFX customers. Maybe it'll work wid other brokers too. It doesnt set SL and TP wid da movements of horizontal lines but other than dat, it just works fine. Herez da link.
  • #20,496
  • Jul 27, 2009 8:24pm Jul 27, 2009 8:24pm
Some really good posts here - keep it up . Some good analysis too.
  • #20,497
  • Jul 27, 2009 8:29pm Jul 27, 2009 8:29pm
Here is Phil's weekly anticipation for those who don't get it by email. The market has not been easy to anticipate for the last month or so.
  • #20,498
  • Jul 27, 2009 9:59pm Jul 27, 2009 9:59pm
Quoting xeneric
Here is Phil's weekly anticipation for those who don't get it by email. The market has not been easy to anticipate for the last month or so.
Thanks!
  • #20,499
  • Jul 28, 2009 1:18am Jul 28, 2009 1:18am
this morning,i found the eurusd price go into the zone,so i buy 2slot,after get 22pips ,i closed half of them ,set the other half to BE.

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The last half get 45pips....totally i get 33.5pips.....

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  • #20,500
  • Jul 28, 2009 8:31am Jul 28, 2009 8:31am
Quoting xeneric
Here is Phil's weekly anticipation for those who don't get it by email. The market has not been easy to anticipate for the last month or so.
I all, I am a new trader, I just learned Phil's strategy. I look forward to learning from all of you. I had one concern though, how can I get the weekly anticipation and how can I get into the skype chat room?

Thanks,
IntTrader
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