4 Hour Strategy (MACD) | Page 1071 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

4 hour strategy (the nausbot - 4 hour trader) 25 replies

4 Hour Strategy Macd+other Indicator 21 replies

X-1102 1 hour , 4 hour and daily Tf trades 7 replies

Create a verticle line at certain hour for every certain hour 16 replies

Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies

Attachments: 4 Hour Strategy (MACD)
Exit Attachments

4 Hour Strategy (MACD)

  • #21,401
  • Nov 11, 2009 2:50am Nov 11, 2009 2:50am
Quoting pubber
Short USDCHF SL 1.0118 TP 1.0015

There is no MACD confirm at this stage but those long tails on the last couple of 4 hr candles look as if price wants to go down.
We are under the 89 and between the 21 & 8 so a reasonably good possibility it will move downwards........ But remember there are no certains in trading.
Closed for +35 pips as price could bounce off of good support from 21 Oct, and will definately bounce from 1.0000.
Attached Image (click to enlarge)
Click to Enlarge Name: USD_CHF Spot.png Size: 17 KB
  • #21,402
  • Nov 11, 2009 5:16am Nov 11, 2009 5:16am
Quoting neilbuc
Trying this on my Demo as Daily is in overbought zone imo.

The tails off the 21ema seem like an indication that it wants to continue upwards. Also looks like we have had a minor abc correction.

SL just below 21ema 1st TP @ previous swing high.

Lets see how it goes.
Boosh! Thankfully I had moved my SL up so net loss was -50Pips. Maybe should have taken +30 and set rest a BE. Live and learn I guess.......away to check the news!
  • #21,403
  • Nov 11, 2009 9:43am Nov 11, 2009 9:43am
A trade I took last night. Closed this morning.
TC and 3 tails to the 200sma
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD.gif Size: 67 KB
  • #21,404
  • Nov 11, 2009 9:47am Nov 11, 2009 9:47am
Todays trade that did not worked out. I have halved my risk so my position size was 0.12 lots in stead of 0.25.
I took the top TL resistance on as well as sHs on MACD.
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD 1.gif Size: 64 KB
  • #21,405
  • Nov 11, 2009 9:59am Nov 11, 2009 9:59am
it was basically taken because there was divergence on macd. entered when i see the macd turned red, at 1.5017. SL at high 1.5048+1 pip. TP, wanted to be at 21MA, but i have a support line drawn at 1.4985.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.JPG Size: 81 KB
  • #21,406
  • Nov 11, 2009 5:18pm Nov 11, 2009 5:18pm
Quoting yuan83
it was basically taken because there was divergence on macd. entered when i see the macd turned red, at 1.5017. SL at high 1.5048+1 pip. TP, wanted to be at 21MA, but i have a support line drawn at 1.4985.
Nice trade, Yuan. Target hit at 21 EMA
Looks like there could be a bounce off the 21 EMA and chance for a long but will wait until London session and see.
  • #21,407
  • Nov 11, 2009 5:29pm Nov 11, 2009 5:29pm
Quoting Phillip Nel
Todays trade that did not worked out. I have halved my risk so my position size was 0.12 lots in stead of 0.25.
I took the top TL resistance on as well as sHs on MACD.
I did a short on the AUDJPY yesterday due to the RT and divergence and got out with only 3 pips. It seems like the Aussie dollar is hard to short right now despite the fact that there is plenty of divergence.
  • #21,408
  • Edited 6:23pm Nov 11, 2009 5:59pm | Edited 6:23pm
Quoting Phillip Nel
A trade I took last night. Closed this morning.
TC and 3 tails to the 200sma
Hi Phil
I took the same trade. I took it because it bounced off the 200 SMA and the 8 EMA at the same time. My chart looks slightly different from yours because my candles close at a different time. I moved my S/L lower to lock in some profit. It didn't hit my TP because I closed manually earlier.
Attached Image (click to enlarge)
Click to Enlarge Name: ucad4hr.gif Size: 29 KB
  • #21,409
  • Nov 11, 2009 6:41pm Nov 11, 2009 6:41pm
Quoting xeneric
Nice trade, Yuan. Target hit at 21 EMA
Looks like there could be a bounce off the 21 EMA and chance for a long but will wait until London session and see.
yea did hit 21MA. unfortunately i still have the mental strength required in trading. i see it stall awhile ard 80s I closed it though was thinking of putting trailing 15pips and heck it .ha. entry was rather random also, could be in at a better price.


anw nice you are spot on on the long. support at 21 then up but macd didnt know the signal. would u have just enter based on 1 candle finding support on the macd? SL can be the recent low and maybe a 1:1 ratio target, which is reached when i m writing this
  • #21,410
  • Edited Nov 12, 2009 1:39am Nov 11, 2009 7:23pm | Edited Nov 12, 2009 1:39am
Quoting yuan83
yea did hit 21MA. unfortunately i still have the mental strength required in trading. i see it stall awhile ard 80s I closed it though was thinking of putting trailing 15pips and heck it .ha. entry was rather random also, could be in at a better price.


anw nice you are spot on on the long. support at 21 then up but macd didnt know the signal. would u have just enter based on 1 candle finding support on the macd? SL can be the recent low and maybe a 1:1 ratio target, which is reached when i m writing this
Hi Yuan,

No I haven't put on an EU trade yet. The big move today was related to the AU and the good employment figures. Big moves in AU seem to move the whole market during the Asian session.

To answer your question, since the daily and the 4 hr are both trending up then your trade would have been a good one but you always should look at 4 hr and daily first. EU has hit resistance again so I am just waiting for the London market to give me a signal now.
  • #21,411
  • Nov 11, 2009 9:10pm Nov 11, 2009 9:10pm
Quoting xeneric
Hi Yuan,

No I haven't put on an EU trade yet. The recent big move was related to the AU and the good employment figures. Big moves in AU seem to move the whole market during the Asian session.

To answer your question, since the daily and the 4 hr are both trending up then your trade would have been a good one but you always should look at 4 hr and daily first. EU has hit resistance again so I am just waiting for the London market to give me a signal now.

think best now is to wait for retracement to enter. because all the pairs are making yearly highs etc.
  • #21,412
  • Edited 11:23am Nov 12, 2009 12:45am | Edited 11:23am
Open:

reason:

A. 2 DOJI indicate support near 97000.
B. MACD turns up
C. Stochastic gives buy signal
D. price hold above 89 SMA

Target Price: near the top horizontal red line

___________________________________________________

Close:

This trade failed.

It can be better managed by setting a TP at bollinger center line.
Also, should take profit when DOJI forms under EMA21 and stochastic goes into the overbought zone.

If I folow the above steps, I can still make 20 or more pips instead of lossing 20 pips (demo)

Expect the price to go down 96230

Attached Image (click to enlarge)
Click to Enlarge Name: audcad.gif Size: 25 KB
Attached Image (click to enlarge)
Click to Enlarge Name: audcad2.gif Size: 34 KB
  • #21,413
  • Nov 12, 2009 1:38am Nov 12, 2009 1:38am
xeneric, just my personal view....i do not think i would even think of going against the AUD...what i would is wait for signals of AUD strengthening and i am in.....since the interest rate hike, i think the AUD & NZD are the currencies to ride...............just my 2 cents

Quoting xeneric
I did a short on the AUDJPY yesterday due to the RT and divergence and got out with only 3 pips. It seems like the Aussie dollar is hard to short right now despite the fact that there is plenty of divergence.
  • #21,414
  • Nov 12, 2009 2:05am Nov 12, 2009 2:05am
Quoting Danku
xeneric, just my personal view....i do not think i would even think of going against the AUD...what i would is wait for signals of AUD strengthening and i am in.....since the interest rate hike, i think the AUD & NZD are the currencies to ride...............just my 2 cents
You are right. From what I have read and seen in the media here, there are more rate hikes to come. I think that it is overbought but I will avoid shorting it since that's where the pips are falling out through my pocket.
  • #21,415
  • Nov 12, 2009 2:26am Nov 12, 2009 2:26am
Quoting yuan83
think best now is to wait for retracement to enter. because all the pairs are making yearly highs etc.
I hope we get a really good retracement.
  • #21,416
  • Nov 12, 2009 3:23am Nov 12, 2009 3:23am
And this is where all traders patience get tested......sometimes i hatre CORRELATION........................

Quoting xeneric
I hope we get a really good retracement.
  • #21,417
  • Nov 12, 2009 9:26am Nov 12, 2009 9:26am
Sorry if this has been answered, but I'm new to forex and have started to go through some of this 4 hour system. I understand patience is key, but is entry mostly on the open of a new candle? Thanks in advance for any answer.
  • #21,418
  • Nov 12, 2009 9:32am Nov 12, 2009 9:32am
Here is a trade today based on the 4 hr system, but taken on a 5 min triangle. There was a TC on the 4hr, but I did not like the tail to the bottom, so I did not take it. Look at the 5 min chart. It shows a triangle forming. Price was testing the resistance for the 5th time. I place my stop above that resistance line and my target at the support line. Pay no attention to the MA on the 5 min, because price was not attention to them. Note I was not looking for a buying opportunity only because I was basing this on the 4 hr system (this is EXTREMELY important). Price has crossed over the 21MA, came back towards it (although it looks like the 8 is giving resistance), and now formed a TC...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 111209.gif Size: 41 KB
Click to Enlarge Name: 111209-part2.gif Size: 57 KB
  • #21,419
  • Nov 12, 2009 3:52pm Nov 12, 2009 3:52pm
One I did today (Live). Took on the break below the swing low and bearish candle closing below the 21ema. Looking for a run to 89 or 200. There was also a hSh pattern on 1H.

Stop was only 50-60pips. Exited 1 half after 30pips (bit cautious) and moved stop to -15pips. Let rest run all the way to 200sma for +115 pips.

Daily looks very evening star(ish) so will look to add if the opp arrises.

Good Luck
Attached Image (click to enlarge)
Click to Enlarge Name: Euro 4H.JPG Size: 121 KB
  • #21,420
  • Nov 12, 2009 4:15pm Nov 12, 2009 4:15pm
Quoting davidwu61
Open:

reason:

A. 2 DOJI indicate support near 97000.
B. MACD turns up
C. Stochastic gives buy signal
D. price hold above 89 SMA

Target Price: near the top horizontal red line

___________________________________________________

Close:

This trade failed.

Attachment Attachment
Hi. I looked at this on my charts and could not see a trade either way. The 21 and 89 seem bunched up and it appeared move of a coin flip as to which way it was going. Others may be able to see something but to me it didn't look like a high probability setup. Sorry it never worked out. Alot of the majors are either near or inbetween their 89 and 200 MA's. It may be an idea not to "chase" the market looking for trades. Take your time and let them come to you. E.g I have been waiting to short Euro since the 27th Oct. Only today did I pull the trigger and I net +145. I could have easily talked myself into a trade rather than waiting for a high probability setup.

Neil
14 traders viewing now