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4 Hour Strategy (MACD)

  • #21,021
  • Oct 1, 2009 3:57am Oct 1, 2009 3:57am
As per the rule, I also took the trade Philip took yesterday but I was able to get out at BE because I was happen to be lucky to still on the system and see the 1hr bearish candle. Even as it is now there is nothing stop GP from not testing 21 before going 200 on the daily chart.
If we check 1hr chart, 89 is still a support which can also make GU to test 200 or 356 on 1hr which may concide with 21 on daily. Only time will tell how the market will behave let just be patient.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #21,022
  • Oct 1, 2009 4:52am Oct 1, 2009 4:52am
[quote=ejiexe;3107973]As per the rule, I also took the trade Philip took yesterday but I was able to get out at BE because I was happen to be lucky to still on the system and see the 1hr bearish candle. /quote]

I found an example in July where the opposite happened and the trade worked out well. Now what can we say from that? The Daily at the time had been in a down move for two weeks, but Weekly was in up move.

The risk was about 60 Pips for a Reward of 150pips.
Two 4H candles closed above 21EMA. On the 1H you can also see that the last hour was a bearish candle, yet the trade still worked and the price never went below the 21EMA again before the 89SMA was hit.

I point this out to show you all because I believe Philip used this setup alot previously. If I take every one of these on then I should always come out with +Pips in the long run.

Its good to talk

Good Luck All.

P.S My MAs are the same, i.e The MAs displayed on the 1H are still based on the 4H.
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  • #21,023
  • Oct 1, 2009 5:05am Oct 1, 2009 5:05am
I think here is the bullish candle you were looking for to go long. Pretty funny about standing in the corner
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  • #21,024
  • Oct 1, 2009 5:34am Oct 1, 2009 5:34am
Quoting Morelands
I think here is the bullish candle you were looking for to go long. Pretty funny about standing in the corner
Now will it :

a) retrace back to the 21ema then a move away to the 89SMA or Top TL after that bullish candle.
b) sink like a uranium enriched stone!

Answers on a post card.
  • #21,025
  • Edited 8:08am Oct 1, 2009 6:47am | Edited 8:08am
Quoting Morelands
I think here is the bullish candle you were looking for to go long. Pretty funny about standing in the corner

I am on the trade on retracement of the ZB candle.

Entry 1.5961
SL 15910 (51 pips)
TP1 = 1.6100 (139 pips)
TP2 = 1.6189 (228)
TP3 = 1.6271 (310)

EDIT: I move my SL 1.5930 to reduce the sl to 31 pips after the close of the 1hr bullish candle that closed above 21 which again also gave ZB on 1hr.


I am only risking 3% of my capital to take profit along the way. That is my plan because market had misbehalved badly in september so I don't want to aim the last TP and wipe away profit.

I am sorry I cannot post the chart but previous chart posted by morelands is clear enough. I may adjust TPs if I come back and see how price is moving with MAs. Once 1.6000 hold, I will be looking for BE though I will have to give market breadthing space.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #21,026
  • Oct 1, 2009 7:25am Oct 1, 2009 7:25am
I did not take the trade. I still don't like the set up. Good luck though.
Raymond
  • #21,027
  • Oct 1, 2009 8:10am Oct 1, 2009 8:10am
Quoting Morelands
I did not take the trade. I still don't like the set up. Good luck though.
Raymond
Oh I tought you took the trade! Anyway, I had move my SL 1.5930 to reduce the sl to 31 pips after the close of the 1hr bullish candle that closed above 21 which again also gave ZB on 1hr.

I like this setup so much. Philip Master expected the move yesterday according to the rule but never happen and now hun!. Only time will tell the success of this trade.
Cheers.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #21,028
  • Oct 1, 2009 9:09am Oct 1, 2009 9:09am
first one sell 0.01slot
second one sell 0.01slot
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  • #21,029
  • Oct 1, 2009 11:03am Oct 1, 2009 11:03am
I did not take the GBP ZBreak due to the possibility of that intermediate TL being resistance. It turn out a good decision so far.
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  • #21,030
  • Oct 1, 2009 1:37pm Oct 1, 2009 1:37pm
Quoting ejiexe
I am on the trade on retracement of the ZB candle.

Entry 1.5961
SL 15910 (51 pips)
TP1 = 1.6100 (139 pips)
TP2 = 1.6189 (228)
TP3 = 1.6271 (310)

EDIT: I move my SL 1.5930 to reduce the sl to 31 pips after the close of the 1hr bullish candle that closed above 21 which again also gave ZB on 1hr.


I am only risking 3% of my capital to take profit along the way. That is my plan because market had misbehalved badly in september so I don't want to aim the last TP and wipe away profit.

I am sorry I cannot post the chart but previous chart...
I was finally stopped out with 31 pips. Philip explained while he did'nt take the trade and I have learnt from it too.

Meanwhile, I would have close part with 25 pips and protect the rest afterall I saw more than 25 pips unclosed. The good things is that I was also able to reduce my sl from 51 to 31. Philip usually say something I did'nt follow today which I used to do but fail to do it this time. "I WILL NEVER EVER ALLOW A TRADE OF MORE THAN 20 PIPS TO GO INTO NEGATIVE NEVER!"

I hope this help someone there
Happy trading
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #21,031
  • Oct 1, 2009 2:23pm Oct 1, 2009 2:23pm
Quoting Phillip Nel
I did not take the GBP ZBreak due to the possibility of that intermediate TL being resistance. It turn out a good decision so far.
I agree with your choice of staying out of the market. Am I wrong if I remember that when the 8ema and the 21ema are so entangled together, it is a ranging market and it is better to wait for the market to take a true direction?! No higher lows and lower highs, either...
  • #21,032
  • Oct 1, 2009 5:56pm Oct 1, 2009 5:56pm
Let's see what happens after the news. NFP week, yuck.
  • #21,033
  • Oct 1, 2009 10:29pm Oct 1, 2009 10:29pm
Hello Everyone,

I am still in the USD/JPY short. The Eur/Usd Daily closed below 21ema the following candle retraced back to it and now as per our rules might be heading to the 89sma.

Also the last 2 months of the season are usually volatile months for currencies.
Keeping Life Simple
  • #21,034
  • Oct 1, 2009 10:59pm Oct 1, 2009 10:59pm
Hello Master Phillip, time1300, xeneric and others...

Just wanna drop my little opinion here...based on my analysis, we might find support @ 1.4510ish area for EU.

Plus, 1.4510 is my Price Wave as well...so let's see how it goes. Any major break below this level then TC to the downside is for sure.

Any comment?

See ya' around.
  • #21,035
  • Oct 1, 2009 11:09pm Oct 1, 2009 11:09pm
I never missed out the W1 chart in my longer term analysis. Look at the PA in the rectangular. Enough for mr.bull for now...I think...

Master Phillip, time1300, anyone...comment please....
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  • #21,036
  • Oct 2, 2009 3:49am Oct 2, 2009 3:49am
Quoting orangeRANGE
I never missed out the W1 chart in my longer term analysis. Look at the PA in the rectangular. Enough for mr.bull for now...I think...

Master Phillip, time1300, anyone...comment please....
Hiya orange. Yeah I posted a chart the other day highlighting the possibility of a evening star, looks like it might play out.

I don't trade on NFP days so on the side lines, till Monday.

Have a good weekend everyone.
  • #21,037
  • Oct 2, 2009 4:55am Oct 2, 2009 4:55am
Morning all,

First of all I want to thank Phil for his kind words and to welcome him back to such a great thread!

Right onto the trading, as a few of you might know - I have only just returned from holiday so have taken no trades this week, however there was a nice TC off with a big bearish engulfing candle on the GBP/USD which found support off the 55EMA together with the similar set up on the EUR/USD on the 30th. I will be trading NFP however, this is a news trade so will only post this video in the interactive forums.

Cheers WG
  • #21,038
  • Oct 2, 2009 5:43pm Oct 2, 2009 5:43pm
Quoting time1300
Hello Everyone,

I am still in the USD/JPY short. The Eur/Usd Daily closed below 21ema the following candle retraced back to it and now as per our rules might be heading to the 89sma.

Also the last 2 months of the season are usually volatile months for currencies.
i was also in this pair, entered on the 1st oct, set my sl on 2nd, went to work ,came back and retraced hit me. walk away with 39pips
  • #21,039
  • Oct 4, 2009 9:44pm Oct 4, 2009 9:44pm
Quoting Phillip Nel
I did not take the GBP ZBreak due to the possibility of that intermediate TL being resistance. It turn out a good decision so far.
welcome back Phillip!!!
Success is the small sum of efforts, repeated day in and day out.
  • #21,040
  • Oct 4, 2009 10:58pm Oct 4, 2009 10:58pm
Hi Every one,
I am trying to learn this strategy. Can anyone give me template for this strategy?

Thanks.
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