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4 Hour Strategy (MACD)

  • #22,281
  • Apr 14, 2010 6:05pm Apr 14, 2010 6:05pm
Quoting emiliolopez
Im not Palmer but,

I guess it is because you ar using different brokers wich are in different time zones, and your 4h and 1d candles start and finnish in diferent times.

and secondly, ask and bid prices slightly vary from broker to broker.
I am using Interbankfx and not sure if Palmer is using the same broker? Anyway, thanks for your explanation
  • #22,282
  • Apr 14, 2010 6:07pm Apr 14, 2010 6:07pm
it appears at the bottom of Palmer's chart: he is using FXDD
  • #22,283
  • Apr 14, 2010 6:12pm Apr 14, 2010 6:12pm
Quoting emiliolopez
it appears at the bottom of Palmer's chart: he is using FXDD
Hi emiliolopez,

Thank you so much for your help!
  • #22,284
  • Apr 14, 2010 6:20pm Apr 14, 2010 6:20pm
that's it...depending on what your broker's server time is and GMT shift +/- hours, the 4hr chart will look different because the price_close might be and hour or two before or after another broker's close. the 1 charts and lower should look pretty much the same though. daily might look a little different too. in the long run, the amount of signals (TC's) is pretty much the same.....
  • #22,285
  • Apr 15, 2010 7:10am Apr 15, 2010 7:10am
Quoting welshguy2000

As normal please comment and rate the video.

Cheers WG
Thank you Sion, for this lesson! I have been trying to use Fibonacci in my trading, but as you said in your video, it is best used in conjunction with market rhythm. I would appreciate a lesson on Elliot Waves because spotting in which wave we are at is not that simple, and I believe it is crucial to grasp the full essence of your lesson on Fibonacci. Thank you. Cheers
  • #22,286
  • Apr 15, 2010 7:38am Apr 15, 2010 7:38am
Quoting baco75
Thank you Sion, for this lesson! I have been trying to use Fibonacci in my trading, but as you said in your video, it is best used in conjunction with market rhythm. I would appreciate a lesson on Elliot Waves because spotting in which wave we are at is not that simple, and I believe it is crucial to grasp the full essence of your lesson on Fibonacci. Thank you. Cheers
Baco,
I don't know if this is the answer GW would give, but his book recommendation on this subject is "Applying Elliot Wave Theory Profitably" by Steven W. Poser
  • #22,287
  • Apr 15, 2010 7:43am Apr 15, 2010 7:43am
Quoting Morelands
Baco,
I don't know if this is the answer GW would give, but his book recommendation on this subject is "Applying Elliot Wave Theory Profitably" by Steven W. Poser
Thank you! I'll try to get a copy of that book! Cheers.
  • #22,288
  • Apr 15, 2010 9:04am Apr 15, 2010 9:04am
Quoting Palmer
that's it...depending on what your broker's server time is and GMT shift +/- hours, the 4hr chart will look different because the price_close might be and hour or two before or after another broker's close. the 1 charts and lower should look pretty much the same though. daily might look a little different too. in the long run, the amount of signals (TC's) is pretty much the same.....
Hi Palmer,

Thank you for your reply and explanation
  • #22,289
  • Edited 10:08am Apr 15, 2010 9:51am | Edited 10:08am
This are 3 demo trades i took with the trend using this 4hmacd system but i had to wait until today to see it positive, i was near of closing the trades several times, but when i analized them i could see that they where within the rules even though price moved against me at first.

Attached Image (click to enlarge)
Click to Enlarge Name: 2010 04 15 audchf 01.gif Size: 24 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2010 04 15 eurnzd 01.gif Size: 27 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2010 04 15 eurusd 01.gif Size: 25 KB


all 3 are closed .75 and left .25 of the position to see if they go further.
  • #22,290
  • Apr 15, 2010 9:58am Apr 15, 2010 9:58am
emilio...can't open your chart attachments

EU is still floundering. USDJPY is stuck as well...

Watching lower timeframes when I can..
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 24 KB
  • #22,291
  • Apr 15, 2010 12:27pm Apr 15, 2010 12:27pm
Any recommendation that Phillip Nel's combobox is worth investing and still applicable for today's market?
  • #22,292
  • Apr 15, 2010 1:04pm Apr 15, 2010 1:04pm
Quoting gerald20000
Any recommendation that Phillip Nel's combobox is worth investing and still applicable for today's market?
Phillip's combobox is not just a number of strategies, It's a complete range of tools, which you can use trading any market. Phillip shows the ways how to put stops, where to take profits, where to stay longer and where not. His strategies are based on people's behavior, so they cannot stop working))).
  • #22,293
  • Apr 15, 2010 8:38pm Apr 15, 2010 8:38pm
Here is a possible trade on my radar on the EUR/USD. We are in a consolidation period (4th wave of an ABC correction for those Eliot wavers). The red arrow is a strong bearish candle which indicates future lower prices. However, price has seems to have found support on the pink MA/ a base or sort with a lot of buyers. If we get a strong bullish candle that closes above the green and blue MA (21 and 8), I'll go long with a possible price target of 76% fib or further, depending on how price acts. We are in a consolidation period so I won't get gready
Attached Image (click to enlarge)
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  • #22,294
  • Apr 16, 2010 2:01am Apr 16, 2010 2:01am
I am also watching this area for some signs of emotions to go long. They may also take price to the 1.35 level, but if the price breaks 89, there will be no long trades for me.
Attached Image
  • #22,295
  • Apr 16, 2010 2:09am Apr 16, 2010 2:09am
Quoting baco75
Thank you Sion, for this lesson! I have been trying to use Fibonacci in my trading, but as you said in your video, it is best used in conjunction with market rhythm. I would appreciate a lesson on Elliot Waves because spotting in which wave we are at is not that simple, and I believe it is crucial to grasp the full essence of your lesson on Fibonacci. Thank you. Cheers
I also want to say thank you for the video lessons!!! I would also appreciate a lesson on Elliot Waves, because when you explain, it sounds very easy to understand.
  • #22,296
  • Apr 16, 2010 3:54am Apr 16, 2010 3:54am
A Lesson in EW theory would be sincerely appreciated. The more I read the more confused I am!
Thankyou for the Video lessons.
  • #22,297
  • Apr 16, 2010 4:33am Apr 16, 2010 4:33am
Hi All,

I took following two trade based on 4hours macd,emas and trendlines.

AUD USD-LONG
Macd signal: Trend continuation
Above 89 AND 21 MA
Entry-0.9348
Stop loss- around 30 pips
first target-25 pips based on previous highs
SCREEN SHOT ATTACHED

Result:Stop loss Triggered

Second Trade EURGBP

Macd Signal: Long

Entry -0.8774
Stopp Loss-0.8750
First Target-0.8800
Risk Reward- 1:1

First target achieved-partial profit 10 pips taken and rest moved to breakeven.
Break Even triggered.

Would be greatful for review of these two trades.

Thanks
Attached File(s)
File Type: doc AUSUSD.doc   91 KB | 389 downloads
File Type: doc EURGBP.doc   88 KB | 363 downloads
  • #22,298
  • Apr 16, 2010 9:48am Apr 16, 2010 9:48am
I Liked this post:

http://www.forexfactory.com/showpost...stcount=221311

Regards
Mike
Failure, is a wonderful teacher!
  • #22,299
  • Apr 16, 2010 1:55pm Apr 16, 2010 1:55pm
Quoting forexdoctor
Hi All,

I took following two trade based on 4hours macd,emas and trendlines.

AUD USD-LONG
Hello, as for the first trade, I was looking at it yeasterday too. It was really a TC from the 21, but I didn't take it as the price didn't break the resistance. Notice the level 0.9360, look left the first top was on the 12/04 and the second 15/04. Price two times had trouble with this area, so it could have been the third time and it happened.

As for the second trade, I do not trade E/G, but 10 pips is too soon for breakeven on the 4h. Better is 25-30. Hope it helps.
  • #22,300
  • Apr 16, 2010 1:57pm Apr 16, 2010 1:57pm
Quoting mike1349
I Liked this post:

http://www.forexfactory.com/showpost...stcount=221311

Regards
Mike
Excellent video, thanks Mike .
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