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4 Hour Strategy (MACD)

  • #20,601
  • Aug 4, 2009 4:46am Aug 4, 2009 4:46am
  •  nerd
  • | Joined Jul 2008 | Status: Fate loves the fearless. | 48 Posts
Quoting Palmer
Hey everyone!

A lot has been going, a lot. I was pretty much gone all of May and June on travel, work, helping out Phillip with starting/editing/managing his private forum, trading covered calls, work, trading, work, and coming up for air every once in a while, things have calmed down just a little. Now that there is a commercial forum here and we can mention our friend Phillip again I plan on dropping by more often here, most likely in the early evening. I'm not surprised at that the strength of this thread continuing like it has and all of the...
Welcome back Palmer!
  • #20,602
  • Aug 4, 2009 5:40am Aug 4, 2009 5:40am
Thank you nasir fo taking the time to clear things out for me. I think I understand you very well and you make lots of sense in you explanations.
Thank you fena for helping out too.

I am glad that we have this thread. It has been very educative for me. thanks to all and to Phillip Nel who started this thread.
  • #20,603
  • Aug 4, 2009 2:43pm Aug 4, 2009 2:43pm
is this time to relax and have cup of Coffee? or playing time with kids ?

looks like Warren Buffet and George Sorosh Sitting on those Red lines..

I got these lines from few discussion forums on FF.

your Comments most welcome..

shabbir
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  • #20,604
  • Aug 4, 2009 3:00pm Aug 4, 2009 3:00pm
yes, hello everyone.......

It has been a pretty stable day in the markets and the currency pairs.........Not too much movement in the US session which could mean a nice pop up tomorrow or a slight retracement in the Japanese sessions.. Both Eur and Gbp might be setting up for a TC on the MACD as we had a nice run up and Macd is above the 45 horizontal line and needs to settle back below that for a TC to occur and your high probability trades are the nice smooth rounding TC that occur.

we will have to wait and see and let the markets come to us and never chase the markets and look for trades.
Keeping Life Simple
  • #20,605
  • Aug 5, 2009 2:13am Aug 5, 2009 2:13am
Hi everybody. I know I have seen on this thread one indicator for mt4 that shows the time for all the sessions when they open and close and it shows the time when they are open + GMT time. I have difficulties to find it now. If anybody can help I really appreciate it.
Thank you in advance.
  • #20,606
  • Aug 5, 2009 2:44am Aug 5, 2009 2:44am
may be we have to look for position soon if we are lucky because of near support line with average effect and 21 ema and to look for TC.The price brreak throu that trendline in Friday so I hope to have retrace back to it. The only problem is that we have a lot of news issues today for USD.

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  • #20,607
  • Aug 5, 2009 4:25am Aug 5, 2009 4:25am
Even if it gives me a good tc. I not going to take it.

I hate seeing a nice setup turn into a lose trade. And the only reason i can give is because it is due to news. Then i ask myself why trade during news since you know it.

Look like 4hr macd thread is picking up steam.
  • #20,608
  • Aug 5, 2009 6:56am Aug 5, 2009 6:56am
Lots of news events on the horizon so expect some volatility...

These are a little longer term charts here for the EU:

Week: The Fib retrace around the 50% mark, this usually means a stall in price action and then a direction either way.

Daily: Higher tops with bearish divergence in the MACD and the RSI if you look at it.

4hr: Within its own range before the news...(no chart). Will take no action before the news comes out.
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  • #20,609
  • Aug 5, 2009 10:37am Aug 5, 2009 10:37am
Anyone looking to shor the usd chf on the next 4h bar in about 2 and a half hr time??

sl at 1.0657

thanks

andrew
  • #20,610
  • Aug 5, 2009 11:51am Aug 5, 2009 11:51am
Is the time right to enter long in GU. The 4h candle is green and the 1h is giving a TC. The resistance almost broken
  • #20,611
  • Aug 5, 2009 1:38pm Aug 5, 2009 1:38pm
am short for usdchf on 4Hr
from the chart
MACD is indicating TC
also Fib retracement is 50%
initial TP is 100% of Fib.
will post the result.
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it is better to miss than to loss pips
  • #20,612
  • Edited 2:44pm Aug 5, 2009 2:20pm | Edited 2:44pm
I took this trade that I expect and said today but with a great attention.
After giving TC signal on 4Hrs I saw that 1Hr is in the same mood too and on the one hour +DPI cross above -DPI.That alowed me enter half hour before the close of the candle on 4Hrs.

Reasons to take the trade:
- Daily after a short retrace from the break of that trendline/see the graphic I post early/and after finishing all the news issues I thought for a long signal there.
-The trend on 4Hrs is bulish.
-Retrace from 21 EMA/almost/ on 4Hrs.
-Good angles of 8ema and 21 ema.
-TC signal on 4Hrs.
-support of the TC signal from 1Hr./ +DPI cross above -DPI/.
-nice tail on 4Hrs showing long move.
-good support line.

Reasons to be cautious and may be not to take it:
-taking TC signal after 50 hours of some kind of range and a box for the price.
-strong resistance on 1.4428./not so much breath to take pips/.
-consolidation of the price for resent 50 hours.
-there is no higher high from December 08,which confuse me to put the right TP limmit.
-putting SL on 60-65 pips away/not the best one meaning for R:R because of missing the right TP limit/
-too different candles - I can not see any kind of emotions and candle patterns.

That's were the reasons to close my half lot on 25 pips win and to move the rest to break even.
I know that was an trade from a beginner like me but I just wanted to share my thoughts.
Still need more self confidence for taking such deals.

Thank you to all of you that share info and knowlige here.I have always learn from you and I really appreciate that fact.

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edit: my break-even was hit so I am with my 25 pips only. Most important is that I continue to learn and such kind of analysis helps me a lot. If I am wrong somewhere I will appreciate any comment.
  • #20,613
  • Edited 7:23pm Aug 5, 2009 6:57pm | Edited 7:23pm
Quoting fena74
I took this trade that I expect and said today but with a great attention.
After giving TC signal on 4Hrs I saw that 1Hr is in the same mood too and on the one hour +DPI cross above -DPI.That alowed me enter half hour before the close of the candle on 4Hrs.

Reasons to take the trade:
- Daily after a short retrace from the break of that trendline/see the graphic I post early/and after finishing all the news issues I thought for a long signal there.
-The trend on 4Hrs is bulish.
-Retrace from 21 EMA/almost/ on 4Hrs.
-Good angles of 8ema and...
Hi Fena74
Thank you for your contribution and sharing your thoughts. Your analysis is good but unfortunately the market is acting very erratically(unpredictable) right now because it is waiting for important news over the next 2 days. We have major news today and tomorrow. However you got 25 pips and that's great - your trade was well executed and as a result you got some pips and didn't lose any money. Keep it up.
  • #20,614
  • Edited 8:15pm Aug 5, 2009 7:33pm | Edited 8:15pm
Quoting nrousan
Is the time right to enter long in GU. The 4h candle is green and the 1h is giving a TC. The resistance almost broken
We recommend to those who don't know the strategy very well yet to start from the beginning and read the whole thread, in particular going through all Phil's lessons and MP3s and trades. The road to learning the 4 hr strategy is not a quick and easy one. It is a long and arduous one - just ask some of these guys, they have all been through the same journey.
  • #20,615
  • Aug 6, 2009 2:16am Aug 6, 2009 2:16am
Morning All,

Right I have found it more time friendly just to make the videos and explain why and what is going on in them! It saves me a lot of time, taking screenshots and writing long explanations.

Yesterday I went long on the GBP/USD and took 50 pips which is all reviewed here:

Inserted Video


Please subscribe to the channel as you will then receive daily updates.

Cheers WG
  • #20,616
  • Aug 6, 2009 3:30am Aug 6, 2009 3:30am
  •  nerd
  • | Joined Jul 2008 | Status: Fate loves the fearless. | 48 Posts
Quoting welshguy2000
Morning All,

Right I have found it more time friendly just to make the videos and explain why and what is going on in them! It saves me a lot of time, taking screenshots and writing long explanations.

Yesterday I went long on the GBP/USD and took 50 pips which is all reviewed here:

http://www.youtube.com/watch?v=ihoSV5zS_7k

Please subscribe to the channel as you will then receive daily updates.

Cheers WG
Hi Everyone..

That was a great trade WG. Luckily you were using MIG (i guess..) and got an early entry. I also took that trade but my entry is on 1.7018 (using IBFX). The trade is, however, still on with fingers crossed. But i'm considering an exit as price has started to stall with uncertainty ahead due to GBP Rate Decision.

Anyone else had the same issue of getting a late signal on their MT4 platform..?
Attached Image
  • #20,617
  • Aug 6, 2009 4:01am Aug 6, 2009 4:01am
Hey Nerd,
I have the same problem with my platform. Just have to have lots of patience. I just wanted to thank Phil and everyone for their hard work. This is an incredible thread! I am slowly working my way through it and am in the mid 200's now. Still lots of reading and summarizing to do. I am looking forward to gaining experience with mini lots when I finally get a good signal. Again thanks for everyone's insight. It has give me the confidence to step from paper trading land. Cheers.

John
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Finally out of the shadows.
  • #20,618
  • Aug 6, 2009 4:32am Aug 6, 2009 4:32am
Thank you Xeneric for your comments. I appreciate the fact that always has members here who help and share thoughts and opinions.
Lets see today and tomorrow the news and how they will react to the market at all for the next week.
  • #20,619
  • Aug 6, 2009 12:44pm Aug 6, 2009 12:44pm
Hi all,
I wrote some code to export MT4 Account history to MS Access database (still very beta, of course). If anybody need or just want to take a look, I'll be glad to share compiled and source code here. Maybe "here" is a little bit off-topic, but I feel comfortable with people of this thread...

cheers,
Andy
  • #20,620
  • Aug 6, 2009 12:53pm Aug 6, 2009 12:53pm
Quoting andy1969
Hi all,
I wrote some code to export MT4 Account history to MS Access database (still very beta, of course). If anybody need or just want to take a look, I'll be glad to share compiled and source code here. Maybe "here" is a little bit off-topic, but I feel comfortable with people of this thread...

cheers,
Andy
what would be the difference if we simply copy paste the data in excel in just some ticks ahh sorry clicks.
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