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4 Hour Strategy (MACD)

  • #21,341
  • Edited 4:59pm Nov 1, 2009 4:34pm | Edited 4:59pm
Quoting Phillip Nel
Here are the trades I did for October2009 with the relevant post numbers
Congratulations Phil. That's why you are the master. I wish we could all trade like that.
  • #21,342
  • Edited 5:36pm Nov 1, 2009 4:47pm | Edited 5:36pm
There is a lot of news this week.

Firstly we have Non Farm Payroll this week , and secondly, we have 4 rate decisions from these central banks –Bank of England, Reserve Bank of Australia, European Central Bank and the FOMC. The RBA is expected to increase interest rates by 0.25% and the others are expected to leave rates unchanged.

Also, currently we have risk aversion occurring where people prefer the USD and JPY over riskier assets. So, we are seeing some buying of these pairs.

The markets are very volatile right now and there will be some indecision this week as markets decide which way to go so trade carefully. Remember to keep your risk low.
  • #21,343
  • Nov 1, 2009 9:59pm Nov 1, 2009 9:59pm
My "other" strategy suggesting that to catch another entry somewhere around rectangular area for another TC downside movement. Only time can tell...but hope this can guide whoever trading this pair...

Questions/comments are most welcome

All the best...
Attached Image (click to enlarge)
Click to Enlarge Name: g.gif Size: 38 KB
  • #21,344
  • Nov 1, 2009 10:58pm Nov 1, 2009 10:58pm
i think the eurusd will go up to 1.50....

1.the price has go up break through the red trend line
2.the price has go back to the trend line
3.the price go up again...
so the price will go to last high.....1.50 or so.....
i will wait a entrance point,maybe a long hammer candle.....

any comment was welcome......
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.gif Size: 43 KB
  • #21,345
  • Nov 2, 2009 12:23am Nov 2, 2009 12:23am
Quoting Phillip Nel
Here are the trades I did for October2009 with the relevant post numbers
Phillip, you continue to inspire! Thanks for the ongoing posts.
  • #21,346
  • Nov 2, 2009 1:51am Nov 2, 2009 1:51am
Quoting ssq
i think the eurusd will go up to 1.50....

1.the price has go up break through the red trend line
2.the price has go back to the trend line
3.the price go up again...
so the price will go to last high.....1.50 or so.....
i will wait a entrance point,maybe a long hammer candle.....

any comment was welcome......
Attachment
Hey..thats my chart....hehehehe
  • #21,347
  • Nov 2, 2009 2:35am Nov 2, 2009 2:35am
Quoting pubber
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
EDIT - Both these trades stopped out.... Onto the next trade.
  • #21,348
  • Edited 7:12am Nov 2, 2009 2:57am | Edited 7:12am
MACD 10,22,1 for the divergence signal. Also confirmed with 5,13,1

Edit 1
8 Ema was reached and could allways play a roll for the possibility of a downmove as the price is actually in a downward direction.
Closed 50% for +25pips and set remainder at -25pips for a BE at worst.

Edit 2
Remainder stopped out for -25
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD.gif Size: 71 KB
  • #21,349
  • Nov 2, 2009 3:40am Nov 2, 2009 3:40am
Long 1.6372, SL 1.6335, TP 1.6472.

This is an agressive entry as looking for a double bottom on the 5 min charts (although got in a little early to ensure I didn't miss the move) and a bounce off the 89 of the 4 h charts.
All other majors are on the way up so looking for it to drag cable up also.

As stated this is an aggressive entry and not to the exact rules, sorry of it shouldn't be posted.... Let me know and I won't post these sorts an longer.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 36 KB
  • #21,350
  • Nov 2, 2009 4:11am Nov 2, 2009 4:11am
Quoting pubber
Long 1.6372, SL 1.6335, TP 1.6472.

This is an agressive entry as looking for a double bottom on the 5 min charts (although got in a little early to ensure I didn't miss the move) and a bounce off the 89 of the 4 h charts.
All other majors are on the way up so looking for it to drag cable up also.

As stated this is an aggressive entry and not to the exact rules, sorry of it shouldn't be posted.... Let me know and I won't post these sorts an longer.
See attached
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD 1.gif Size: 83 KB
Attached File(s)
File Type: zip GbpUsd.zip   481 KB | 899 downloads
  • #21,351
  • Nov 2, 2009 6:28am Nov 2, 2009 6:28am
Quoting pubber
Long 1.6372, SL 1.6335, TP 1.6472.

This is an agressive entry as looking for a double bottom on the 5 min charts (although got in a little early to ensure I didn't miss the move) and a bounce off the 89 of the 4 h charts.
All other majors are on the way up so looking for it to drag cable up also.

As stated this is an aggressive entry and not to the exact rules, sorry of it shouldn't be posted.... Let me know and I won't post these sorts an longer.
Thanks for the words Philip, always most appreciated!

Attached is the 5 min chart of why I took the trade also (secondary to the 4hr bouncing off the 89).
As stated looking for a double bottom and supported by the trendline coming from 26 Oct low.
As Phil has shown TP was back at the breakout point. I had set my trade to BE after 30 pips to see if we were going to get a larger bounce, ended in getting stopped for BE.
Lesson to self - don't get greedy and trade simple, should have taken profit at 1.6430 as per the charts.

B
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 29 KB
  • #21,352
  • Nov 2, 2009 7:16am Nov 2, 2009 7:16am
Quoting pubber
Thanks for the words Philip, always most appreciated!

Attached is the 5 min chart of why I took the trade also (secondary to the 4hr bouncing off the 89).
As stated looking for a double bottom and supported by the trendline coming from 26 Oct low.
As Phil has shown TP was back at the breakout point. I had set my trade to BE after 30 pips to see if we were going to get a larger bounce, ended in getting stopped for BE.
Lesson to self - don't get greedy and trade simple, should have taken profit at 1.6430 as per the charts.

B
Nothing wrong with a breakeven trade. It counts as positive. I also ended up BE with my trade today. That is part of trading. If there was a reason/plan to go BE it was allways a good manage trade. If BE was set due to fear then it was not good management.
  • #21,353
  • Nov 2, 2009 7:21am Nov 2, 2009 7:21am
Quoting Phillip Nel
Here are the trades I did for October2009 with the relevant post numbers
very good , please keep posting
  • #21,354
  • Nov 2, 2009 8:49am Nov 2, 2009 8:49am
I know that many people have a wrong FX data of MIG's mt4 platform thesedays, I will upload the latest data till 30th Oct.
enjoy it
Attached File(s)
File Type: zip FX data.zip   2.3 MB | 564 downloads
Plan your trades and trade your plans
  • #21,355
  • Nov 2, 2009 9:18am Nov 2, 2009 9:18am
Quoting Phillip Nel
Here are the trades I did for October2009 with the relevant post numbers
that's great! Phillip! you have made progress than before, keep going!
Plan your trades and trade your plans
  • #21,356
  • Nov 2, 2009 9:35am Nov 2, 2009 9:35am
Mp3 for explanation
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD.gif Size: 72 KB
Attached File(s)
File Type: zip UsdCad.zip   671 KB | 475 downloads
  • #21,357
  • Nov 2, 2009 10:19pm Nov 2, 2009 10:19pm
Quoting orangeRANGE
My "other" strategy suggesting that to catch another entry somewhere around rectangular area for another TC downside movement. Only time can tell...but hope this can guide whoever trading this pair...

Questions/comments are most welcome

All the best...
I was roughly correct in my "guesstimation" yesterday.... But now I just want to stay on the sideline since the battle between PW1.4830 and support TL is getting wilder.

Comments/questions are most welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: g.gif Size: 36 KB
  • #21,358
  • Nov 3, 2009 12:53am Nov 3, 2009 12:53am
Quoting orangeRANGE
I was roughly correct in my "guesstimation" yesterday.... But now I just want to stay on the sideline since the battle between PW1.4830 and support TL is getting wilder.

Comments/questions are most welcome.
Sorry for my question. How to draw those blue arrows on the chart. Is it an indicator?
  • #21,359
  • Nov 3, 2009 3:37am Nov 3, 2009 3:37am
Hello everybody,

after finding this forum i am very impressed and started to learn all lessons from Phil (thanks a lot for that).

Now by trying to build up the setup i am very confused by setting the colored macd.

I have tried v102 till v106 and at first i had that problem because alpari charts shows up 5 digits.

I could solve this problem by changing the parameters for the lines (i.eg. 45 into 450).

My problem is after restarting the mt4 terminal all manual changes are lost (Even in v106). So i changed the standard parameters in the source code as i would like to see them on the chart (45 into 450, 30 into 300 and so on), but still no success.

Maybe there is someething i am missunderstanding and i have tried to find out the solution by myself but with no result.

Even looking especially on v106, this indicator uses completely different parameters for the lines (76, 51, 25, -25, -51, -76). Is this indicator calculating the levels new for every 4 hours?

I would be very thankfully if somebody could help me out or could tell me where to find more information about it.
  • #21,360
  • Nov 3, 2009 4:56am Nov 3, 2009 4:56am
Quoting elsater
Hello everybody,

after finding this forum i am very impressed and started to learn all lessons from Phil (thanks a lot for that).

Now by trying to build up the setup i am very confused by setting the colored macd.

I have tried v102 till v106 and at first i had that problem because alpari charts shows up 5 digits.

I could solve this problem by changing the parameters for the lines (i.eg. 45 into 450).

My problem is after restarting the mt4 terminal all manual changes are lost (Even in v106). So i changed the standard parameters in the source...
There are indicators for 4 and 5 digit brokers at http://www.fxtradeblog.com. If you look under 'The Method' and then 'Method Tools' you'll find it.
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