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4 Hour Strategy (MACD)

  • #21,241
  • Oct 23, 2009 8:08pm Oct 23, 2009 8:08pm
Quoting fxlan
I am looking from Price action status..ignore macd now. I am just wondering what the current candles and moving averages are telling us. Because i really dont know how to read the market in a correct way just by looking at candles. I know all the candles formation (hammers, shooting start, inverted hamers, evening stars,...) but i dont know how to see which one is the most relevant.
Is the bounce from the 21 in this case the relevant one...or are the strong bearish candles a reason to stay away. Hope someone can help
hi ,fxlan
the market is in a uptrend,but it become a slow uptrend,so the market will change recent,so we can take a CT carefully!!!
the first hammer cnadle tell us the market will go down,the second bearish candle tell us again!!!!the last candle was going up and off the 21,you maybe think the uptrend is continue,but at the same time the market give us an oppotunity,we can use a small SL,to sell the eurusd!!!the R:R is excellent!!!!so we can do this CT trade,with a small SL!!!!

ANY COMMENTS WAS WELCOME!!!

and now i always tell myself,do not do the CT!!!!
AT THE SAME TIME,THE GBPUSD GO DOWN 300PIPS,maybe the gbpusd can tell us to sell the eurusd????
Attached Image
  • #21,242
  • Oct 23, 2009 8:11pm Oct 23, 2009 8:11pm
Quoting Phillip Nel
My daughter is helding her yearly youth camp so I will be back on Sunday night. I have taken a short on the EurUsd but have closed for BE a while ago. I will post details on Sunday.
Phillip is a very loving father to your daughter...admire your fatherhood...MASTER
  • #21,243
  • Oct 23, 2009 9:36pm Oct 23, 2009 9:36pm
it seems to me from the 4h chart, that the eur/usd has loss momentum since it reached the daily trendline. since the correlation on this pair and the cable is pretty similar most of the time, also on my last candle has caused the 4h macd to create a double top or may be a slight divergence. So my view on this pair is fairly bearish or maybe sideway. never the less i'll wait till next few candle action before i make my judgement. if it close below 8ema, i'll aim for the 21ema. How is everyone thought about this?
  • #21,244
  • Oct 23, 2009 9:52pm Oct 23, 2009 9:52pm
Quoting BenStevo
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...
agree, I have some problem with MIG's demo account, but I use data from another platfomr to fix the wrong data.
Plan your trades and trade your plans
  • #21,245
  • Edited Oct 24, 2009 2:53am Oct 23, 2009 10:58pm | Edited Oct 24, 2009 2:53am
Quoting Superscalper
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?


Hi and welcome to the thread. This strategy is based more on price action with confirmation from the macd indicator than just signals from the indicator itself. You should go to the beginning of the thread, read all of Phils' examples and the watch Welshguy2000's videos. If you like the strategy then please feel free to ask any questions.

This strategy is used mostly with the 4 hr chart but some people have used it with the daily although you should always do your own backtesting to see if it works for you. All the best.
  • #21,246
  • Oct 23, 2009 10:59pm Oct 23, 2009 10:59pm
Quoting yuan83
there is also divergence at the same time
Great to see you posting again, Yuan. Missed your posts here.
  • #21,247
  • Oct 23, 2009 11:02pm Oct 23, 2009 11:02pm
Quoting saka
agree, I have some problem with MIG's demo account, but I use data from another platfomr to fix the wrong data.
Hi Saka,
You are very smart with MT4 data. If I have a problem with my MT4 platform, I will know who to ask. I have been very lucky so far.
  • #21,248
  • Oct 24, 2009 9:27am Oct 24, 2009 9:27am
I have just stumbled on this forum and am studying the 4H system. Can someone please briefly explain the practical meaning and use of the levels (0.0015, 0.0030 etc) on the MACD or direct me to the appropriate post(s) where these levels are explained.
Thank you.
  • #21,249
  • Oct 24, 2009 2:09pm Oct 24, 2009 2:09pm
Quoting MidnightRun
I have just stumbled on this forum and am studying the 4H system. Can someone please briefly explain the practical meaning and use of the levels (0.0015, 0.0030 etc) on the MACD or direct me to the appropriate post(s) where these levels are explained.
Thank you.
Don't worry about the levels.We use the color of MACD and Zero level.That's it

Mike
Failure, is a wonderful teacher!
  • #21,250
  • Oct 24, 2009 11:44pm Oct 24, 2009 11:44pm
Quoting ssq
hi ,fxlan
the market is in a uptrend,but it become a slow uptrend,so the market will change recent,so we can take a CT carefully!!!
the first hammer cnadle tell us the market will go down,the second bearish candle tell us again!!!!the last candle was going up and off the 21,you maybe ...
Wait another bearish candle and if there is enough space to 21MA, you can take the trade. Better with divergence on MACD (1H perhaps).

Just personal opinion.
  • #21,251
  • Oct 25, 2009 4:48am Oct 25, 2009 4:48am
wakayama:i will wait......
  • #21,252
  • Oct 25, 2009 5:54am Oct 25, 2009 5:54am
To me everything is still very bullish unsless we get a strong bearish bar. Those tails through the 21 and 1.5 show buying pressure dont they?
  • #21,253
  • Edited 2:21pm Oct 25, 2009 2:09pm | Edited 2:21pm
Here is the trade I took Friday and closed for Breakeven on Friday night.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4H MACD.gif Size: 67 KB
Click to Enlarge Name: 4H MACD 1.gif Size: 4 KB
  • #21,254
  • Oct 25, 2009 7:02pm Oct 25, 2009 7:02pm
is the 1 hour system still running?

many trading on this time frame still?
  • #21,255
  • Oct 25, 2009 9:02pm Oct 25, 2009 9:02pm
Quoting Phillip Nel
Here is the trade I took Friday and closed for Breakeven on Friday night.
You were considering the Evening Star candle with the Lower Low MACD behaviour as the reason to the the CT.

But, wouldn't it be too much risky against a steady uptrending price during that period sir? I mean, look at the steady gap between 8ema and 21ema themselves. That also explain a lot as per your rules.

Looking forward for your explaination here...master...
  • #21,256
  • Oct 25, 2009 10:24pm Oct 25, 2009 10:24pm
Quoting xeneric
Great to see you posting again, Yuan. Missed your posts here.
haha glad to see u baack too!
  • #21,257
  • Oct 26, 2009 12:40am Oct 26, 2009 12:40am
Nice trade Phillip,

I was also seriously eyeing this one up but chickened out! Probably the main thing that got me interested was the pin bar followed by the small doji (was not really big enough to be an evening star to me).

If it helps anyone, I've found that these are extremely reliable setups in both CT and TC situations - would probably go as far as to say 90-95% reliable. Both pin bar followed by doji or doji followed by pin bar create viable setup. The smaller and more compact the doji, the more I like the setup. I skipped trade as the doji entry candle was a bit big for me.....still learning not to be too fussy!


Quoting Phillip Nel
Here is the trade I took Friday and closed for Breakeven on Friday night.
  • #21,258
  • Edited 7:45am Oct 26, 2009 4:15am | Edited 7:45am
Taken a short at 1.5037 EURUSD, PA looks to be topping around the 1.5060 area and a I nice doji on the last 4 hr candle.
Stop 1.5070, TP 1.4960.

edit: Closed this out manually for +17 pips as bouncing off the up trendline since 2nd Oct. will wait for a break of that and lower highs for anotehr short.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD Spot.png Size: 18 KB
  • #21,259
  • Oct 26, 2009 5:56am Oct 26, 2009 5:56am
What do you think about this USD/CAD TC?
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  • #21,260
  • Edited 10:12am Oct 26, 2009 6:52am | Edited 10:12am
Here is a trade a took today. RB trade on the second green candle and 2 tails to the bottom.
I was a bit late (about 12pips) as I could not be there when the candle closed but it was still within my risk management.
I will be watching 1.6400 level closely as the 38% Fib retracement is also just above the 1.6400.
I will also look to secure at least Breakeven as it is a CT move.
I liked the forming of the round bottom with those tails. Price is close to the 8ema but I still believe that the odds is in my favour due to the huge run we had and the looks of the last 3 candles.
TL at 1.6365. Will set all to BE.

Edit 1
1.6365 reached so set all to Breakeven
Edit 2
Closed 50% for +20. Rest at BE.
Edit 3
Closed remainder for +50pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4H MACD 1.gif Size: 4 KB
Click to Enlarge Name: 4H MACD.gif Size: 64 KB
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