4 Hour Strategy (MACD) | Page 1133 | 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)

  • #22,641
  • May 12, 2010 8:26am May 12, 2010 8:26am
Quoting March2011
Hi everyone, I am new here, I took a long position with GU base on TC. Anyone with me?

Is this trade ok? Pls comment. Thanks

March
oh stopped out. Anything wrong with that trade?
  • #22,642
  • May 12, 2010 8:34am May 12, 2010 8:34am
Quoting March2011
Hi everyone, I am new here, I took a long position with GU base on TC. Anyone with me?

Is this trade ok? Pls comment. Thanks

March
Hi March, welcome to this thread.
your entry was right, according to 8/21sma and macd. the problem at that point would have been the trendline above. so on your 4h chart, gmt+1, I would have waited for a confirmation of a move to the trendline and a possible trendline break before entering and taken the long after the price has moved back to 8/21 and closed above it (yellow arrow)
Attached Image (click to enlarge)
Click to Enlarge Name: gu 4h 12.5..gif Size: 9 KB
  • #22,643
  • May 12, 2010 9:40am May 12, 2010 9:40am
Quoting smikester
Thanks ashes, looking at the bullish divergence on your H1 chart as well.
nice move on the eg, I hope you're making pips. too bad I don't trade this pair
  • #22,644
  • May 12, 2010 10:00am May 12, 2010 10:00am
Quoting ashes
nice move on the eg, I hope you're making pips. too bad I don't trade this pair
Hah! Neither did I until I started a thread about it just for fun. I now have to study it because the thread created some interest. Luckily it is an easy pair to trade imnvho. I was in at .8450.
Gone to a better place
  • #22,645
  • May 12, 2010 10:00am May 12, 2010 10:00am
Hello everyone,

Been absent from the forum for a while but I have been reading up on the comments and analysis and it is great to see new faces and old faces still holding this forum true to its original rules. Hey palmer, great to see you active and around.

The past week has been crazy with volatility but with volatility comes great risks and rewards. Anyways, I been waiting for the market to get a little calmer and I have put in my trade today on the GBP/USD. I know we talk about the technical aspects of our charts on this forum but I think when we have such volatility and global crisis, it is also good to flip to the fundamental side of things and see what is going on with the world and match it up with our charts. With EU having so many issues I think there is a good down bias on the pound and the euro and flipping on my charts, that's what I have found.

the first is the weekly. you can see that rising trend line which price is now testing and in my opinion will see a break of it soon. Also you can see that last week had a nice bearish engulfing candle.

going to the daily......you can see price pulling back to the 21ema. and then switching to the 4H for entry. I see price tested the 1.5000 area a few times and also bounding off of the 55ema. My entry was based on the pin bar based off of the 55ema and the 1.5000 area and that was my decision on my entry.

My first target is around the 1.472 area and will let the other run.

cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd weekly.gif Size: 25 KB
Click to Enlarge Name: gbpusd daily.gif Size: 26 KB
Click to Enlarge Name: gbpusd 4h.gif Size: 27 KB
Keeping Life Simple
  • #22,646
  • May 12, 2010 10:06am May 12, 2010 10:06am
Quoting time1300

My first target is around the 1.472 area and will let the other run.

cheers
I hope you are right because I'm short cable too. What do you think will happen at 1.48 ish which is weekly/daily support and looking quite strong?
Gone to a better place
  • #22,647
  • May 12, 2010 10:25am May 12, 2010 10:25am
Quoting smikester
I hope you are right because I'm short cable too. What do you think will happen at 1.48 ish which is weekly/daily support and looking quite strong?
hey smikester,

1.4800 is a strong support but with the uncertainty of UK and EU, I think we will see a break of that level. you should manage your trade cautiously and move your trade to BE as soon as possible.

I am out half my position with 32 pips and the rest is now at break even so we just have to wait and see now.
Keeping Life Simple
  • #22,648
  • May 12, 2010 10:50am May 12, 2010 10:50am
Quoting March2011
oh stopped out. Anything wrong with that trade?
it's a counter trend trade if u ask me.
  • #22,649
  • May 12, 2010 11:13am May 12, 2010 11:13am
Quoting yuan83
it's a counter trend trade if u ask me.
Thanks Ashes and Yuan83!

I studied my loss and I think that the down trend is still so strong and in this case the 8ema did not cross the 21ema so we should say no to long signals.

Thanks and I appreciate to receive advices from everybody.
  • #22,650
  • Edited 9:39pm May 12, 2010 11:20am | Edited 9:39pm
Quoting March2011
oh stopped out. Anything wrong with that trade?
Its better to check other time frame for support and resistence.

In this case, the price has reached 200 sma and channel trend line on H1 chart. Its better to use H4 as guidance and use lower time frame to look for actual entrance point and timing.

Phil's moving average set up is pretty good for estimating price target and direction. But, for me, the MACD trigger signal is not easy to get hold of.

You may try combine Phil's system and Craig Harris system (another thread under trading system http://www.forexfactory.com/showthread.php?t=211188 ), using Phil's Moving Average and Craig's entry signal. It works pretty good for me so far.

Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 34 KB
  • #22,651
  • May 12, 2010 12:39pm May 12, 2010 12:39pm
Quoting March2011
Hi everyone, I am new here, I took a long position with GU base on TC. Anyone with me?

Is this trade ok? Pls comment. Thanks

March

That's a difficult chart to trade from because the rhythm (price action) is stalled. I'd let that pair break out of that area and get flowing before taking action.

This link: http://www.fxtradeblog.com/tools.html#practicecharts

has some practice charts to print out and make notes all over.

Welcome to the thread!
  • #22,652
  • May 12, 2010 1:06pm May 12, 2010 1:06pm
FWIW...I've been monitoring the 15min chart to look for trendline breaks in the 4hr directions and it has been working out well...for this week at least when the 4hr rhythm is strong...
Attached Image
  • #22,653
  • May 12, 2010 8:41pm May 12, 2010 8:41pm
Quoting davidwu61
Its better to check other time frame for support and resistence.

In this case, the price has reached 200 sma and channel trend line on H1 chart. Its better to use H4 as guidance and use lower time frame to look for actual entrance point and timing.

Phil's moving average set up is pretty good for estimating price target and direction. But, for me, the MACD trigger signal is not easy to get hold of.

You may try combine Phil's system and Craig Harrison's system (another thread under trading system), using Phil's Moving Average and Craig's entry...
Hi, could you give a link to Craig Harrison's forum? I can;t find him using the search.
  • #22,654
  • May 12, 2010 9:38pm May 12, 2010 9:38pm
Quoting wuming79
Hi, could you give a link to Craig Harrison's forum? I can;t find him using the search.
http://www.forexfactory.com/showthread.php?t=211188
  • #22,655
  • May 13, 2010 2:01am May 13, 2010 2:01am
Quoting March2011
oh stopped out. Anything wrong with that trade?
I see you have many answers already, but I want to participate too . You were trading right into a very strong resistance 1.5000. Never trade into resistance or support wait for the break and close above.

Ira
  • #22,656
  • Edited 4:01am May 13, 2010 2:54am | Edited 4:01am
since my eu short taken yesterday has gotten stopped out be this morning, I'm planning to enter on eu short again at candle close in 1h.
the lower tl seems to be under pressure. I was hoping for it to break already yesterday but it didn't. in 1h might I enter for the next attempt
  • #22,657
  • May 13, 2010 3:03am May 13, 2010 3:03am
Quoting Palmer
That's a difficult chart to trade from because the rhythm (price action) is stalled. I'd let that pair break out of that area and get flowing before taking action.

This link: http://www.fxtradeblog.com/tools.html#practicecharts

has some practice charts to print out and make notes all over.

Welcome to the thread!

Hi Guys,

I ve been off for some time since end of Jan. I see thread is still busy and you are doing a great job.
I am going back to trades but I feel quite nervous snce my break in trading took some time.
Palmer: this fxtradeblog looks well Thx.
  • #22,658
  • May 13, 2010 3:06am May 13, 2010 3:06am
Quoting ashes
since my eu short taken yesterday has gotten stopped out be this morning, I'm planning to enter on eu short again at candle close in 1h.
the lower tl seems to be under pressure. I was hoping for it to break already yesterday but it didn't. in 1h might I enter for the next attempt
Hi Ash, so you waited for the candle to end on 1hr before taking the trade or after candle ended, wait for retracement in even lower time frame?

I entered short at 15 min after it broke uptrend line. But I'm breaking the rules again. I don;t have a good track record of entering in 15 mins...but the break looked very clean.
  • #22,659
  • May 13, 2010 3:47am May 13, 2010 3:47am
Quoting wuming79
Hi Ash, so you waited for the candle to end on 1hr before taking the trade or after candle ended, wait for retracement in even lower time frame?

I entered short at 15 min after it broke uptrend line. But I'm breaking the rules again. I don;t have a good track record of entering in 15 mins...but the break looked very clean.
hi wuming, generally I wait for 4h candles to close, then I enter. rarely on 1h and never on a lower tf.
  • #22,660
  • Edited 4:24am May 13, 2010 3:53am | Edited 4:24am
Quoting wuming79
Hi Ash, so you waited for the candle to end on 1hr before taking the trade or after candle ended, wait for retracement in even lower time frame?

I entered short at 15 min after it broke uptrend line. But I'm breaking the rules again. I don;t have a good track record of entering in 15 mins...but the break looked very clean.
The best case is to short when the price retrace to retest the resistence;
Although, it might never happen.

With so much concern about every detail, you would never be able to enter a trade.

So, the straight forward steps are:

1. Determine how much risk (how much you can afford to lose) you can take for this trade.

2. Verify if the indicators, trend, support/resistence are good for thr trade.
It is all about probability, nothing is for sure in trading.

3. If answer to step 2 is YES. since your stop loss is usually above/below an obvious resistence/support, you can now estimate if the risk/reward ratio (usually more than 1:2) for the current entry is good enough for you to take the trade. If the sign of retracement is clear, you should wait for the retracement because it reduces your risk.

Which time frame to use depends on if the trade is a long/short term trade and how much risk you can take.
As you can see in ahes's post below, the stop loss is 100 pips away and the profit is 200 pips, so the trade may go about a day or two.
9 traders viewing now