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4 Hour Strategy (MACD)

  • #21,141
  • Oct 15, 2009 2:59am Oct 15, 2009 2:59am
Quoting Phillip Nel
The breakout trade of the GbpUsd according to the rhythm as explained on post 2118. The rhythm is still up. Therefore the wait at the tendline to see if it wants to break through. The hammer was the trigger for me . The price found support on the 89sma
Just got to my PC.......dash. I think I will have to adjust my plan to check out the 4Hr candle close at 7AM
(GMT). Looked a good setup. SL at below that TL. Hope others got some.
  • #21,142
  • Oct 15, 2009 3:48am Oct 15, 2009 3:48am
Quoting andrewnair
Hi Phillip,



On your previous post, you took the long GBPUSD trade although the MACD did not show an entry, forgive my ignorance, but is that according to the trading rules?

I hope I did not offend you or anyone, I thank you again for the time and effort in sharing with us.

Thanks again,

Andrew
Hi Andrew,

Phil trades mostly price action and does not need to rely on the macd. We are encouraged to trade price action too but for our trend continuation trades it usually helps if we have macd confirmation.

We should always look at price action first and never rely solely on the macd signal for our trades as we could be trading directly into support or the macd signal could be as a result of news etc.
  • #21,143
  • Edited 7:46pm Oct 15, 2009 5:45am | Edited 7:46pm
I took the same trade as Phillip. The second picture is the 1 hr and it shows my indicator candle. I entered after the close of the candle. I just exited at the 200 MA. Thanks for all your help and effort Welshguy and Phillip, it's making a big difference in my life.

Edit: looks like there was a little meat left on that bone
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 101409-part1.gif Size: 46 KB
Click to Enlarge Name: 101409-part2.gif Size: 36 KB
  • #21,144
  • Oct 15, 2009 9:46am Oct 15, 2009 9:46am
Quoting nwsuccess
I would actually expect price to rally higher. 89.42 isn't even a good resistance area. It's right in the middle of a consolidation area and now it's starting to break up. Look to the left and you'll see what you're up against. I would rather enter short at your stop. I won't unless I see a solid setup at that time.
thanks for comments .. I came out early at +2 pip due to no movements for a while. Now it has gone North, it would have been bad trade.

thanks again
shabbir
  • #21,145
  • Oct 15, 2009 11:09am Oct 15, 2009 11:09am
Quoting andrewnair
Hi Phillip,

Its good to have you back and hear from ya. I thank you for taking time and effort to share your system and your thought process.

If you don't mind, I would like to run a question by ya. I too was waiting to long the GBP/USD at the bar at the arrow and the SL, about 70 PIPS or so, at the arrow's level. First PL about 30 PIPs or so with a trailing stop if and when the market moves in my favor. That’s my thought process.

[size=2][font=Arial]But...
See attached
Attached Image
Attached File(s)
File Type: zip GbpUsd.zip   707 KB | 529 downloads
  • #21,146
  • Oct 15, 2009 12:18pm Oct 15, 2009 12:18pm
Quoting Phillip Nel
See attached
Thank you, this is really helpful.
Be like water.
  • #21,147
  • Oct 15, 2009 1:06pm Oct 15, 2009 1:06pm
For those interested.
1. Enter your starting capital
2. Enter your % risk
3. Enter your stoploss in pips and it will give you a lot size based on a mini account.
4. Adjust the formula in D8 to represent your pip value of your account and the currency you are trading.
Attached File(s)
File Type: xls Risk Position Size Calculation.xls   19 KB | 792 downloads
  • #21,148
  • Oct 15, 2009 2:30pm Oct 15, 2009 2:30pm
Hi guys the Can JPy is about to retrace...just a heads up.....tell me what you think....
  • #21,149
  • Oct 15, 2009 11:21pm Oct 15, 2009 11:21pm
Quoting IntTrader
Hi guys the Can JPy is about to retrace...just a heads up.....tell me what you think....
Hi IntTrader,

Technically it does look like it is due for a reversal but I would be careful trading CADJPY since it is highly correlated to the oil price and the oil price is going up. The reason is because Canada is a net exporter of oil and Japan is a net importer of oil.
  • #21,150
  • Oct 16, 2009 1:29am Oct 16, 2009 1:29am
Quoting Phillip Nel
For those interested.
1. Enter your starting capital
2. Enter your % risk
3. Enter your stoploss in pips and it will give you a lot size based on a mini account.
4. Adjust the formula in D8 to represent your pip value of your account and the currency you are trading.
Thanks for this file!! Just about to go live in a few days. Have to start with the right foot!!
  • #21,151
  • Oct 16, 2009 1:34am Oct 16, 2009 1:34am
Is it so wrong to think about going short on GBPUSD now? I expect a least a retracement back to the 200 and 365 after such a long rush upward.
Thanks for any contribution.
  • #21,152
  • Oct 16, 2009 5:12am Oct 16, 2009 5:12am
Quoting baco75
Thanks for this file!! Just about to go live in a few days. Have to start with the right foot!!

gd luck
  • #21,153
  • Oct 16, 2009 5:38am Oct 16, 2009 5:38am
hi everyone,
its been long i have not posted here, that's because i recently went live with philip's MACD strategy. i must say that the strategy is very profitable and needs patience. initially, my account was diminishing day by day and i was woundering what i was doing wrong.
but lately, i think all is working out well.

what i discover with the MACD strategy is that it needs patient and discipline.

i just want to thank Mr. Philip for his generosity in sharing this system with us.
have a wounderful weekend all.
cheers!
it is better to miss than to loss pips
  • #21,154
  • Oct 16, 2009 5:43am Oct 16, 2009 5:43am
Quoting 2pips

what i discover with the MACD strategy is that it needs patient and discipline.
Great you discovered this, as any trading method you use needs this!!

well done you realized it... your in the right direction 2 pips!

follow it, and trade well.
  • #21,155
  • Oct 16, 2009 10:04am Oct 16, 2009 10:04am
See post 21139 for the start of this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD 1.gif Size: 81 KB
  • #21,156
  • Edited 11:21am Oct 16, 2009 10:17am | Edited 11:21am
Here is a RTop I took. I liked the red bearish candle. And the resistance against 136.0

It went to 1.3500 twice in a very short time so I have set all to BE and will see later tonight to close the trade.

Edit
I closed out for +36pips
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD.gif Size: 47 KB
  • #21,157
  • Oct 16, 2009 10:48am Oct 16, 2009 10:48am
Hello Phillip and everyone,

Nice PA in response with the upper Channel (see ellipse).

Also, attached herewith is my template for those who are interested.

K.I.T.
Attached Image (click to enlarge)
Click to Enlarge Name: h.gif Size: 49 KB
Attached File(s)
File Type: tpl 515macd.tpl   27 KB | 291 downloads
  • #21,158
  • Oct 16, 2009 10:50am Oct 16, 2009 10:50am
Quoting orangeRANGE
Hello Phillip and everyone,

Nice PA in response with the upper Channel (see ellipse).

Also, attached herewith is my template for those who are interested.

K.I.T.
This is my chart...sorry about the previous one...
Attached Image (click to enlarge)
Click to Enlarge Name: h.gif Size: 37 KB
  • #21,159
  • Oct 16, 2009 10:54am Oct 16, 2009 10:54am
Quoting orangeRANGE
This is my chart...sorry about the previous one...

I also saw the sHs on the MACD. I was still in the GbpUsd tradeso I let it go passed.
Phillip
  • #21,160
  • Oct 18, 2009 4:28pm Oct 18, 2009 4:28pm
Guys the GBPJPY, EURJPY and CANJPY are all about to retrace. all at significant resitances and with doji's. Lots of pips are available.

Take care,
IntTrader
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