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4 Hour Strategy (MACD)

  • #21,861
  • Jan 21, 2010 8:30am Jan 21, 2010 8:30am
Thinking that the EU wants to tick up with the crappy jobs #. You would think that it would give the pair some strength at least above the 8ema since we are a long way from the 21.... Looking at the 1hr...with the BladeRunner in mind and the vertical blue lines where the entries would be...these are the runs that happen several times a year in all pairs that can result in a boatload of pips. I've got an EA in the back of my mind for this but with the little scalping project that I'm working on, there would HAVE TO BE some human intervention; a semi-automatic EA. Let the run start and then run the EA. Either way, with the scalping project, I'm thinking that reverse engineering may help out a lot. Meaning, let the EA run and look for those chart patterns ( or what some indy level are ) where the EA actually works. Then code the EA specific to those areas. I know that this thread has nothing to do with the a scalping EA but I'm just thinking out loud in terms of an eventual semi-auto robot here. This is a long way out but the idea is there. I'll stop rambling now....

4hr white vertical line is where the BladeRunner run starts. Blue vertical lines would be the entries on the 1hr...
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  • #21,862
  • Jan 21, 2010 8:50am Jan 21, 2010 8:50am
For those not familiar with the BladeRunner method there is a link on the 4hr method website in my signature here.
  • #21,863
  • Jan 21, 2010 4:48pm Jan 21, 2010 4:48pm
Quoting Morelands
I think you are talking about the color MACD indicator that is green and red. You can find that at Palmer's site...fxtradeblog.com
Thank you Morelands

I will take a look.

  • #21,864
  • Jan 21, 2010 11:34pm Jan 21, 2010 11:34pm
Quoting BenStevo
SL hit.
Definitely agree with you Ira on being wary on CT trades. For me, this was a high probability setup which works probably 80+% of time. No luck today tho!
Ben, that's too aggrassive. Look at its 4h chart, it is clear to show that price has formed abc waves, and the b wave is a flag pattern. A wave is nearly 700pips drop, so the c wave should also be a same long wave.

Meanwhile, after price cracked the flag consolidaiton, the speed would be accelerate, it is so dangerous to do CT trade at such period expecially there is not any MACD signal formed. At this case, we should consider SHOT it when it has done some rally up to some resistant.

The most important thing is to know where are we in the intermediate trend
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Plan your trades and trade your plans
  • #21,865
  • Jan 21, 2010 11:42pm Jan 21, 2010 11:42pm
Quoting Palmer
For those not familiar with the BladeRunner method there is a link on the 4hr method website in my signature here.
Palmer, I have traded FX for more than 2 years but never get a successful bladerunner trade. Because I don't know whether this trend is a strong one. But after I learn much more traditional strategies. Maybe oneday I can judge it. As this one, after b wave, c has high probablility to form a strong down trend like a wave. just hindsight.
Plan your trades and trade your plans
  • #21,866
  • Jan 22, 2010 2:05am Jan 22, 2010 2:05am
Morning all,

Just to update you all, so I have no closed my position last night at 1.4065 netting me +424 pips Regarding the questions people have been asking about how should they if there is going to be a large move ahead, the 1st step is to look at the candles, if they are showing high emotion and are belt hold in formation then you know something is about to happen. If you follow Elliot wave then this too candle be really helpful as each wave has certain characterises. If you wise to learn move about this then drop me an email and i'll point you in the right direction.

I will be posting a video review of this trade later this morning.

Cheers WG
  • #21,867
  • Jan 22, 2010 2:50am Jan 22, 2010 2:50am
Thanks for the feedback Saka. I thought this trade might get some comments!
For me, this was still one of my high probability setups. Would I take it again? Yes - I have to because it met my rules and for me these give positive results. Maybe one day I will think differently and look back and wonder why I ever took the trade....who knows
Please note that for me the MACD signal and distance to the 8/21 were NOT the signal. They were the icing on the cake that made it worth taking. I agree that you are trading very dangerously if these are your only reasons (especially following a strong fall like this one). I guess it's not really part of this thread, so I haven't really discussed too much, but my reason for entering was due to support formed by an Inside Bottom / Nesting doll.
Unfortunately for me, my SL was hit by 2 pips and price has now hit my 1st TP - I will accept it as a valid loss tho - it met all my criteria and failed.


Quoting saka
Ben, that's too aggrassive. Look at its 4h chart, it is clear to show that price has formed abc waves, and the b wave is a flag pattern. A wave is nearly 700pips drop, so the c wave should also be a same long wave.

Meanwhile, after price cracked the flag consolidaiton, the speed would be accelerate, it is so dangerous to do CT trade at such period expecially there is not any MACD signal formed. At this case, we should consider SHOT it when it has done some rally up to some resistant.

The most important thing is to know where are we in the intermediate...
  • #21,868
  • Jan 22, 2010 3:12am Jan 22, 2010 3:12am
Sorry, this is not really part of 4hr MACD, but just something interesting to see in the charts. I like these patterns and am learning to use them to keep out of trouble, and to get into the market when the chances are good. They can be a very good filter for both TC and CT trades. It kinda explains entry reason on my loosing CT trade on E/U yesterday - maybe not the best way to sell the theory, but anyway...

Have just shown some colored circles. They are in pairs. The first of any circle provides a rally, then base, then drop (or vice versa). The second shows what price does when it revisits the area. I have got blue horizontal lines showing the area. Each line originates at the first colored circle and extends forward in time. Very interesting right?

The yellow circle shows U/J in last few hours. Price hit that 89.95 level and seemed to get stung. Same thing with the first blue circle - draw a horizontal line through the lower base / consolidation area. When price revisits just yesterday, again, it gets stung.

Then the pink circles. These are some of the best because price is testing the previous level and moves off. On the MACD, a TC....our favourite signal right?

Sure there are many little rules and do's and don'ts (I can see many of these tops and bottoms that do not work), but I have found them to be very interesting areas. Entry zones, take profit zones etc.

PS - If only I actually caught all these moves that I've shown
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  • #21,869
  • Jan 22, 2010 3:20am Jan 22, 2010 3:20am
Quoting welshguy2000
Morning all,

..the 1st step is to look at the candles, if they are showing high emotion and are belt hold in formation then you know something is about to happen.

Cheers WG
I will have to pay more attention to belt holds. Would love to hear more on your way of trading them... please post more
  • #21,870
  • Jan 22, 2010 3:38am Jan 22, 2010 3:38am
Ok I'm on a roll. Here is NZD daily. MACD can be used for confirmation.
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  • #21,871
  • Jan 22, 2010 7:22am Jan 22, 2010 7:22am
Nice trade Sion.

Saka: yes, the first thing to recognize is when that run would actually start. There are a lot of times when the charts look like they are lining up for a run on the 8ema and then price settles back in. Still a lot of studying to do on this part but I'e got some 'ideas' brewing.....
  • #21,872
  • Jan 23, 2010 1:33pm Jan 23, 2010 1:33pm
Quoting welshguy2000
Morning all,

Just to update you all, so I have no closed my position last night at 1.4065 netting me +424 pips Regarding the questions people have been asking about how should they if there is going to be a large move ahead, the 1st step is to look at the candles, if they are showing high emotion and are belt hold in formation then you know something is about to happen. If you follow Elliot wave then this too candle be really helpful as each wave has certain characterises. If you wise to learn move about this then drop me an email and i'll...

Looking forward to your review of the trade
Raymond
  • #21,873
  • Jan 23, 2010 2:05pm Jan 23, 2010 2:05pm
Quoting welshguy2000
Morning all,

Just to update you all, so I have no closed my position last night at 1.4065 netting me +424 pips Regarding the questions people have been asking about how should they if there is going to be a large move ahead, the 1st step is to look at the candles, if they are showing high emotion and are belt hold in formation then you know something is about to happen. If you follow Elliot wave then this too candle be really helpful as each wave has certain characterises. If you wise to learn move about this then drop me an email and i'll...
pm'd you but you can disregard.
  • #21,874
  • Jan 23, 2010 7:57pm Jan 23, 2010 7:57pm
Hi,

I have a question on MACD_Colored_v103.mq4. While I am thankful to Phillip and Irusoh that have provided this indicator, I would like to understand how does this 0.0045 is arrived. Phillip did mention that this strategy can use not only in Forex but also stock market. I am trying to plot on some stock charts but worried that the different in price between blue chip and penny stocks might differ. Can someone help to explain how does this 0.0015, 0.003 and 0.0045 arrived?

Thanks in advance
  • #21,875
  • Jan 23, 2010 10:01pm Jan 23, 2010 10:01pm
Quoting welshguy2000
Morning all,

Just to update you all, so I have no closed my position last night at 1.4065 netting me +424 pips Regarding the questions people have been asking about how should they if there is going to be a large move ahead, the 1st step is to look at the candles, if they are showing high emotion and are belt hold in formation then you know something is about to happen. If you follow Elliot wave then this too candle be really helpful as each wave has certain characterises. If you wise to learn move about this then drop me an email and i'll...
The 2nd pm may be of interest to you.
  • #21,876
  • Jan 25, 2010 7:30pm Jan 25, 2010 7:30pm
Quoting silverfox88
Hi,

I have a question on MACD_Colored_v103.mq4. While I am thankful to Phillip and Irusoh that have provided this indicator, I would like to understand how does this 0.0045 is arrived. Phillip did mention that this strategy can use not only in Forex but also stock market. I am trying to plot on some stock charts but worried that the different in price between blue chip and penny stocks might differ. Can someone help to explain how does this 0.0015, 0.003 and 0.0045 arrived?

Thanks in advance
When Phillip first started this thread there was a lot of talk about rounded tops and rounded bottoms, the formation of the MACD 'hills' and 'valleys'. These levels were used to gauge the strength of the hills and valleys and how they could be used for counter trend trades. The method has evolved from this quite a bit in the way that we really don't trade the counter trend areas much any more. The focus is now on trend continuation areas with the rhythm such as pullbacks to the 21 or the strength in the rhythm and resistance or support breaks, Fib #'s etc. I wouldn't put too much focus on the levels but rather use them as an ebb and flow with the trend, if it is there. The original pdf does have the info on this when it first came out but you'll notice in previous posts they are more or less just a formality now.
  • #21,877
  • Jan 27, 2010 5:56am Jan 27, 2010 5:56am
Hi guys!
I think this is double button and entered.
http://www.forexfactory.com/attachme...1&d=1264593322
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  • #21,878
  • Jan 27, 2010 8:18am Jan 27, 2010 8:18am
Quoting Palmer
When Phillip first started this thread there was a lot of talk about rounded tops and rounded bottoms, the formation of the MACD 'hills' and 'valleys'. These levels were used to gauge the strength of the hills and valleys and how they could be used for counter trend trades. The method has evolved from this quite a bit in the way that we really don't trade the counter trend areas much any more. The focus is now on trend continuation areas with the rhythm such as pullbacks to the 21 or the strength in the rhythm and resistance or support breaks, Fib...
Hi Palmer,

Thank you very much for your help. I understand it is a high risk trading counter trend and am doing only TC pattern now. From the answer your provided, I assume the strategy on rhythm SMA89 and EMA21 is still valid and working. Thanks again for your reply.
  • #21,879
  • Edited 4:04am Jan 28, 2010 4:03am | Edited 4:04am
Hi Philip

I just read your 4HR MACD strategy and you suggested to read 13 lesson of market rhythm.
I found the list looks like:

13 lessons
L1 Introduction.zip................... ................................... .............................290... .......4336
L1 Introduction 1.zip.............................. ................................... ...............290..........4336
L2 Tsunami.pdf........................ ................................... ............................290.... .......4337
L2 Tsunami.zip........................ ................................... ............................290.... .......4337
L3 Tecnical vs Fundamental Analysis.zip....................... ...............................290. ...........4338
L4 Market Rhythm Part 1.pdf.............................. ................................... ...290............4339
L4 Market Rhythm Part1.zip.......................... ................................... .........290............4339
L4 Price Motion 2.zip.............................. ...................................

But i could not find them. Could you plesae let me know where can found them to read.

My e-mail address id [email protected]

Thank you
Dave
  • #21,880
  • Jan 28, 2010 11:34am Jan 28, 2010 11:34am
Quoting david100
Hi Philip

I just read your 4HR MACD strategy and you suggested to read 13 lesson of market rhythm.
I found the list looks like:


Thank you
Dave
Sorry, I am not Philip, but I can answer your question. At the top of this page you will see the number of pages, we are currently at 1459. Click on the down arrow near this number and go to the page 289. At the bottom of the page the lessons begin in zip files. All you have to do is to download them. They work, I have just checked.
Ira
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