4 Hour Strategy (MACD)

I see it like this in H1 E/U..we have news coming

I was very close to pulling the trigger on this. I finally decided not to because of the large bullish candle on my 4 hr charts, indicating possible change of sentiment and herds expectation of the news. This quick sharp reversal highlights the risk in earlier entries, over waiting for 4hr confirmation.

Austrader

Here is a trade I took today purely on a RB with tails around the 1.4700 level. It was also close to a daily bottom TL. I was expecting support.

Hi Phillip,

May I ask you when you use MACD(10,22,1) and when you use MACD(5,13,1)?

Here your MACD is (5,13,1).We didn't have RB with MACD(10,22,1) on this candle.

I attach the chart.

Thanks
Mike

I am using a 5,13,1 setting. I do use the 10,22,1 to check for MACD divergence. Last year when the volatility was huge the 10,22,1 setting seems to worked better. It filtered out some of the volatility.

Thanks Phillip.Congratulations for passing $3000

closed +100pips

Great

actually ur system is great , thx

Nice.

Looks like the temporary Support TL (see arrow) still does its job for now...

Nice rebounce...!!!

hello everyone.

Because I have been preapring a financial and English course, I am too busy to post as much as before.

This is a trade I did yesterday for AU because it had touched main trend line from early of this year. I use 4h rhythm and 1h entry to open a long position, hope the trend line will maintain the price goes upward.

Daily chart

4h

1h entry

RB off support line. It was above the 0.0015 level but with the trend.
We must watch out now because the price went under the 21 so we can expect a return to the 89 soon.

Here is a trade I did this morning.

Edit 1
Closed all for +31 after bottom TL was reached as well as Friday afternoon.

Thanks Phillip, that was a very good trade you just did,
I saw the RT and took the trade too grabbing pips at the same time.

This is a trade I was a couple minutes too late. I was at work and it's not the most conducive to trading. Anyway, yesterday price stalled at the 21 MA on the daily (eur/usd). On the 4 hrs chart price was above the 21 MA so I thought those spinners meant that price was coming back to the 21 on the 4hr and then going to move away (to the up side). However, price never went that way with a strong candle. You can see the consolidation on the 1 hr chart better. Price broke though the consolidation to the down side. I did not take the break, but was waiting to see what happened. Then you have those 2 candles after the breakout that go back up the breakout level and to the 21 MA on the 1hr. I was going to place my sell price right below those two 1 hr candles. I was watching price action on the 5 min. I was trying to place my sell price at level I wanted, but my orders could not catch up with price so I just let the trade go...rats!!! On Tues and Thurs I can catch those b/c I take those morning off to trade on my own platforms

Here are the trades I did for October2009 with the relevant post numbers

Well done. A very good month for you.

This is very impressive, great job !
In this month I learned more than ever analyzing your trade, please keep posting Philip

attached 2 trades I'm in from Friday, long GBP both.

GBPUSD buy 1.6445, sl 1.6390, TP 1.6550

EURGBP sell .8952, sl .8996, TP .8870