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4 Hour Strategy (MACD)

  • #21,201
  • Oct 21, 2009 9:21am Oct 21, 2009 9:21am
Good Morning all,

Great to see you orange posting again your analysis and your charts, it's definitly a great help to see some things that we might not have on our own charts. I appreciate everyone on this thread sharing their charts and helping each and everyone to earn pips...............that is how it should be done and I am so glad to see people sharing and being part of this really great life changing forum.

Just to update you guys on my last USD/CAD trade. Just before bed time last night I closed my trade at BE..........this was due a few 4H candles just hovering over the 89sma so I did not feel too confident to leave it open so i closed it at BE.........

1) it was a counter trend trade and price could have gone anywhere above or below the 89sma
2) I took the trade on merely to fill the gap to the 8ema but sometimes the 8ema catches up to price which it did here so we still got out at BE.
Keeping Life Simple
  • #21,202
  • Oct 21, 2009 9:25am Oct 21, 2009 9:25am
The GBP/USD has broken above our trend line which Phillip has also talked about...........We have had a nice move up which has also created a nice gap between the 8ema.......

As per our rules price tends to come back to the breakout level before continuing on so I will be watching this closely.

I wanted to just talk briefly about counter trend trades back to the 8ema...........I never take these odds on during busy sessions, the US session or the European sessions...........If I do take the odds on it is after the close of the US session and in the evening time EST time, this as I have mentioned before is the best time for high probability counter trend trades as many traders take off or sell off some of their positions for profit taking and so forth...

I have found that those times have the best probability for trades back to the 8ema to fill the gap.
Keeping Life Simple
  • #21,203
  • Edited 11:33am Oct 21, 2009 11:17am | Edited 11:33am
I took the EurJpy trade today due to a nice TC on the MACD with settings 10,22,1. It was also off the 21ema.
I also had to set a profit target as I could not watch the trade and it was reached.

Added todays comments
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  • #21,204
  • Oct 21, 2009 11:45am Oct 21, 2009 11:45am
Quoting time1300
I wanted to just talk briefly about counter trend trades back to the 8ema...........I never take these odds on during busy sessions, the US session or the European sessions...........If I do take the odds on it is after the close of the US session and in the evening time EST time, this as I have mentioned before is the best time for high probability counter trend trades as many traders take off or sell off some of their positions for profit taking and so forth...

I have found that those times have the best probability for trades back to the 8ema...
The quoted comment may seem obvious to many, but not to me!! I got burned a few times (on demo fortunately...) on counter trades. Thanks a lot for your comment and the clear explanation of it!!
When you talk about the gap, it is when the price is far away from the 8ema and you expect it to go back to touch the 8ema?
Thanks a lot!!
  • #21,205
  • Oct 21, 2009 12:06pm Oct 21, 2009 12:06pm
Quoting time1300
The GBP/USD has broken above our trend line which Phillip has also talked about...........We have had a nice move up which has also created a nice gap between the 8ema.......

As per our rules price tends to come back to the breakout level before continuing on so I will be watching this closely.

I wanted to just talk briefly about counter trend trades back to the 8ema...........I never take these odds on during busy sessions, the US session or the European sessions...........If I do take the odds on it is after the close of the US session and...
Thanks. This is very true. If you take a countertrend during the busy session there have to be a lot of confirmations like divergence, trendlines, equal price levels, candle and or pattern confirmations etc.
  • #21,206
  • Oct 21, 2009 12:14pm Oct 21, 2009 12:14pm
Evening all,

I have just uploaded the TC signal which I took on this morning - a long trade. The video covers a range of different things (Fibs / Elliot Wave + standard 4H MACD) I have also explained candle formations around the key levels to help you people understand how to take advantage of strong moves like today.

If you have any questions, please PM / Email me and I will try and answer everyone.

Inserted Video


Please rate & comment on the video as it helps others learn & allows me to move up the ranking on youtube.

Cheers WG
  • #21,207
  • Oct 21, 2009 2:29pm Oct 21, 2009 2:29pm
Hi guys,
I am experiencing problems with my MIG demo platform...on many pairs the graphs are all messed up..data missing and a huge candle that is obviously due to some kind of software problem..Has this happened to anyone before? How did you solve it? And more important please tell me that that does not happen with MIG live accounts....
Cheers
  • #21,208
  • Oct 21, 2009 2:31pm Oct 21, 2009 2:31pm
Quoting welshguy2000
Evening all,

Please rate & comment on the video as it helps others learn & allows me to move up the ranking on youtube.

Cheers WG
Thanks a lot. Somtimes a bit confusing when u switch between timeframes... but it will be helpful for my study.
When yuo decided you profit you've conted 3 fibo lines. Not clear from what line shall we start from?
  • #21,209
  • Edited Oct 22, 2009 12:09am Oct 21, 2009 8:30pm | Edited Oct 22, 2009 12:09am
Long EUR/USD. Will post chart later and reasons why. Basically price has come back to the break out level. I set my stop and I'm going to bed and will wake up in a few hours to check the trade.
By the way, I am having issues with my MIG platform today...bad bar is causing the problem
Raymond

Edit: almost took out my SL, going to watch PA to see if I need to exit
Edit 2 : loss of 39 pips
  • #21,210
  • Oct 21, 2009 8:35pm Oct 21, 2009 8:35pm
did sameone try to trade thise sys on daily chart bar white more pairs?

does the atumatic indtifair macd indicator r ok to use ?is it relaibol?


  • #21,211
  • Oct 22, 2009 12:59am Oct 22, 2009 12:59am
Quoting Morelands
By the way, I am having issues with my MIG platform today...bad bar is causing the problem
Raymond
Raymond, are you trading live with MIG or demo? I am about to go live with MIG next week, but those platform issues would be very annoying. they already are in demo.....thanks
  • #21,212
  • Oct 22, 2009 1:30am Oct 22, 2009 1:30am
Quoting Morelands
Long EUR/USD. Will post chart later and reasons why. Basically price has come back to the break out level. I set my stop and I'm going to bed and will wake up in a few hours to check the trade.
By the way, I am having issues with my MIG platform today...bad bar is causing the problem
Raymond

Edit: almost took out my SL, going to watch PA to see if I need to exit
Edit 2 : loss of 39 pips
Yes I am having the same situation with MIG, anyone know how to fix it?
  • #21,213
  • Oct 22, 2009 2:11am Oct 22, 2009 2:11am
Hi baco75,

I've had ongoing issues with the demo platform with these guys for several years. Most of the time it's fine, but every now and then you get missing chunks of data or big gaps (I have the same problem as you do today). I've also found that their connection does not seem to be all that reliable. For example, I have another demo account with Interbank/IBFX which has a 2hr offset from MIG - I very rarely loose connection with them, but on a fairly regular basis I get cut off from MIG. Now, I don't trade with them live, so can't give my opinion on them from that perspective - But, I felt that if they couldn't give me a reliable demo then I wasn't interested in trading a live account with them.
If you want another demo with the same GMT offset as MIG, you could try alpari...this way if you loose your MIG connection you can still trade your live MIG account using alpari demo for data feed. I've just downloaded their platform and it seems to be fine.

Hope that helps..


Quoting baco75
Hi guys,
I am experiencing problems with my MIG demo platform...on many pairs the graphs are all messed up..data missing and a huge candle that is obviously due to some kind of software problem..Has this happened to anyone before? How did you solve it? And more important please tell me that that does not happen with MIG live accounts....
Cheers
  • #21,214
  • Edited 3:12am Oct 22, 2009 2:57am | Edited 3:12am
Quoting BenStevo
Hi baco75,

For example, I have another demo account with Interbank/IBFX which has a 2hr offset from MIG - I very rarely loose connection with them, but on a fairly regular basis I get cut off from MIG.
Hope that helps..
Agreed. I use IBFX and found it to be very reliable - although their 4 hr candle will not look like Phil's examples because it closes at a different time but that has never bothered me.
  • #21,215
  • Oct 22, 2009 3:36am Oct 22, 2009 3:36am
Thanks a lot, Benstevo and Xeneric for your feedback...I will try to do as you suggest...Cheers
  • #21,216
  • Oct 22, 2009 4:32am Oct 22, 2009 4:32am
Quoting baco75
Raymond, are you trading live with MIG or demo? I am about to go live with MIG next week, but those platform issues would be very annoying. they already are in demo.....thanks
I agree with BenStevo. I use "Think or Swim" account to trade live, but use MIG to post my charts. I have occasional issues with MIG. If things go wrong with them, I can always look at my think or swim charts. Basically, I think you should always have a backup.
Raymond
  • #21,217
  • Oct 22, 2009 4:41am Oct 22, 2009 4:41am
Here's the chart I said I was going to post...a loss of 39 pips. The chart is a 1 hr chart and shows where I entered. I entered 10-15 min before the candle closed (rookie mistake), which was at it's high. 10-15 min later it closed as you see it.
Attached Image (click to enlarge)
Click to Enlarge Name: 102109-4hr-loss.gif Size: 50 KB
  • #21,218
  • Oct 22, 2009 5:40am Oct 22, 2009 5:40am
Hi guys,
looks like there is a potential TC trade setup on GBPUSD, EURGBP AND EURUSD
please review the chat below and lets hera your comment.
at the moment am waiting for the MACD to indicate TC before entering the trade.
cheers!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 63 KB
Click to Enlarge Name: GBPUSD.jpg Size: 61 KB
it is better to miss than to loss pips
  • #21,219
  • Oct 22, 2009 5:43am Oct 22, 2009 5:43am
Quoting Morelands
Here's the chart I said I was going to post...a loss of 39 pips. The chart is a 1 hr chart and shows where I entered. I entered 10-15 min before the candle closed (rookie mistake), which was at it's high. 10-15 min later it closed as you see it.
Hi Moreland, for EURUSD 1.500 is a strong psychological level. I would nave not gone long on that with such ease...in my opinion it is better to wait for a strong signal of heading up again on longer timeframe charts....
  • #21,220
  • Oct 22, 2009 6:54am Oct 22, 2009 6:54am
Quoting Morelands
Here's the chart I said I was going to post...a loss of 39 pips. The chart is a 1 hr chart and shows where I entered. I entered 10-15 min before the candle closed (rookie mistake), which was at it's high. 10-15 min later it closed as you see it.
Hi Morelands, hi all, been following this thread for a while, and have some thoughts probably to share. I noticed from Moreland chart that EU seems to start moving away from the TL, but if you look carefully, the price seems forming undecisive candles in bull bear candle respectively. I personally wouldn't think that is a good idea for long entry besides of the price level 1.50. From what I experienced, (I dunno if this is just happened to me ) Doing church pattern while price hasn't retrace back to 21 doesn't seems doing well in H1. It did well in M5 method though.... ) Maybe expert can help? Phil? What do you think?
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