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4 Hour Strategy (MACD)

  • #23,121
  • Jun 24, 2010 5:49pm Jun 24, 2010 5:49pm
Quoting ashes
I understand the reason of your entry. actually your entry according to the signalcandle did not look too bad. short candle with shadow reaching up to 21ema, 200sma. I remember having spotted this on the gmt+3 platform. but since news were to be announced 30min after candle close, I decided to use the gmt+2 platform for signal evaluation for 4h entry. one hour later the signal had dissolved. however, I have given it a try with half risk right before news on 1h, which gave me a sl. http://www.forexfactory.com/showthre...16#post3814116...
I can see from your trades that although most of your trade triggered sl, they were triggered in BE. That mean you are doing pretty fine! Got to learn from you how to improve my trades
  • #23,122
  • Jun 25, 2010 4:18am Jun 25, 2010 4:18am
Quoting ashes
audusd may offer us an entry at candle close ....

edit:
shorting audusd@0,8670, r=80 (10 min before candle close because I have no time to wait for candle close)

edit:
0,5r reached, sl set be
Hi ashes,
I took the same trade
one enrty @ 8670 and one 8660, in the morning I tightened SL and got out at 8640/45


I do not follow: r=80, 0,5r, sl set be; can you explain.

How do you move SL when proce is going in 'your' direction?

  • #23,123
  • Jun 25, 2010 4:47am Jun 25, 2010 4:47am
Quoting lukis
Hi ashes,
I took the same trade
one enrty @ 8670 and one 8660, in the morning I tightened SL and got out at 8640/45


I do not follow: r=80, 0,5r, sl set be; can you explain.

How do you move SL when proce is going in 'your' direction?

hi Lukis, lately I move my sl to be after price has reached half of my risk in positive. so if my sl is 80pips=r, I set the trade be if +40pips=+0,5r had been reached. during this month I also started taking 1/4tp at this point.
  • #23,124
  • Jun 25, 2010 5:00am Jun 25, 2010 5:00am
Quoting ashes
hi Lukis, lately I move my sl to be after price has reached half of my risk in positive. so if my sl is 80pips=r, I set the trade be if +40pips=+0,5r had been reached. during this month I also started taking 1/4tp at this point.
ashes
I see. New approach of MM to me. I was tightening SL to catch some profits but this does not work when there is morning noise in the markeet.
Do you have more links to Philips posts and files about marketrhythm? The one linked was very helpful
  • #23,125
  • Jun 25, 2010 8:56am Jun 25, 2010 8:56am
Quoting hammerhead
I really don't have any idea what's up with the market these days. It always change its direction and took my SL.
Got BE on this one again...
Hi H

I know the feeling, it was times like that when I started to doubt the system(s). After a few Skype sessions with Phillip in the past as well as looking at his analysis of charts, only then I did realise that I was "pushing/forcing" the trades. That was when I started to look to the left on my charts to look what the price was up to. It was only then when I realised it was me and the markets (not favourable for the 4h system - like you said, probably in consolidation or within a triangle waiting for a breakout) and not the system.

I can say the same for Phillip's 5min system.

Discipline and patience - don't hunt for trades. Let the setups call you.

Enjoy.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #23,126
  • Jun 25, 2010 10:29am Jun 25, 2010 10:29am
Quoting Golfer
Hi H

I know the feeling, it was times like that when I started to doubt the system(s). After a few Skype sessions with Phillip in the past as well as .

Enjoy.
The system is not wrong; it just does not work in certain occasion.
It takes a experienced trader to tell if the market is in that kind of occasion.

Hopefully we'll see more posts about how the experienced guys filter out inappropriate trade (when the system said so) than just trade entry and success reports. I think that would be lot more helpful for learning purpose.
  • #23,127
  • Jun 25, 2010 8:45pm Jun 25, 2010 8:45pm
I spotted an opportunity at red arrow last night when price bounce off EMA21 and saw the long tail. However, due to unwilling to hold position over the weekend, I give it a miss. May I know if it is advisable to leave trades over the weekend? I actually anticipate that the price might gap up next week but control myself from putting in the order. Not sure if I did correctly for giving it a miss?

One more thing, I noticed MACD is giving a lot of late signals lately or rather; price went up/down a lot after the MACD confirmed. Does anyone choose to follow Phillip method of TC etc without looking at MACD? How high is the winning chance without MACD?

All comments welcome.
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  • #23,128
  • Jun 29, 2010 6:11pm Jun 29, 2010 6:11pm
I am trying to find a lesson in page 1 on phillip lesson about riding the trend until ema21 broken but cannot remember which lesson/acticle it is in? If you know where it is, can you kindly let me know? Many thanks in advance.
  • #23,129
  • Jun 29, 2010 7:56pm Jun 29, 2010 7:56pm
The chart below is the Daily. I really like candles like these (belt holding that cross MA) on the daily chart b/c you know momentum is to the short side. I would look for a TC to go short or some sort candle formation showing lack of momemtum to the long side. Profit targets should be 3-4 fib line from where price pulled back to. For instance if price pulls back to the 61% retracement price can go to the 121 or 138%, 0.8401 or 0.8351 respectively if things don't change. Happy trading
Raymond
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  • #23,130
  • Edited 7:55am Jun 30, 2010 6:48am | Edited 7:55am
possible short on audusd
possible long on usdcad
both in about 1h at candle close

edit:
no entries, candles too large, I wait
  • #23,131
  • Edited 3:13am Jul 1, 2010 2:27am | Edited 3:13am
placing short order eu @1,2203, r=55

price has gone trough 89/200sma, came back to them and went through them short again, now trading the bounce off space inbetween 21/8ema

edit:
order cancelled
  • #23,132
  • Jul 1, 2010 5:25am Jul 1, 2010 5:25am
I did some trades this week but mostly unsuccessful.
I'd better tie my hands market still unpredictable.
One more day to settle up the trend again ?
http://cdn.forexfactory.com/images/icons/icon6.gif
  • #23,133
  • Jul 1, 2010 5:39am Jul 1, 2010 5:39am
oh man....is it wrong to take the short when TC formed? 2 tails off 89ma, price closed below 200ma now price rally hard....has the rhythm go crazy and unusable now??

http://img85.imageshack.us/img85/9637/monthly.gif

Uploaded with ImageShack.us
  • #23,134
  • Jul 1, 2010 3:20pm Jul 1, 2010 3:20pm
Hi
Can sombody explain me what has happened today with EURUSD and GOLD spot?
Got no idea
  • #23,135
  • Edited 7:11pm Jul 1, 2010 5:46pm | Edited 7:11pm
bad news for the us dollar today: jobless claims ,manufacturing index, US pending home sales
on the back burner: there is a divergence in the macd (daily chart)suggesting a change in direction cooking since the beginning of june.
add the fact that one should expect fireworks on the first week of july (since some traders are acting differently ).
Yvon
  • #23,136
  • Jul 1, 2010 8:46pm Jul 1, 2010 8:46pm
Nice reversal patten...sHs. I would only be looking for longs in the near future for Eur and GBP
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  • #23,137
  • Jul 1, 2010 9:02pm Jul 1, 2010 9:02pm
I know NFP is tomorrow, I'm going to be at work and unable to trade, but a possible trade is on the horizon if your comfortable using Sion techique for trading NFP. Anyway the 1st chart is the weekly. I just wanted to show the important price level we are at indicated by the 5 previous points along the blue rectangle. On the second chart, the 4 hr, you can see that price has recently broken that level and now is pulling back to it. You can also see the 21 MA, both of which should provide resistance. Additionally and a little off topic, I believe we are going to begin the 5th Eliot wave. I hope people made some $$ today, if not you can use the stong bullish daily on the EUR and GBP to set up some future trades
Raymond
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  • #23,138
  • Jul 2, 2010 5:21am Jul 2, 2010 5:21am
Good Morning all,

Raymond, I wanted to comment on your analysis, todays NFP will definitely be very interesting - specially with the strong rally we experienced in both GU & EU yesterday. From the way things are shaping up, the market has a great deal of upward momentum. I will be looking for opportunities to buy the dips around the 8 & 21 EMA, something which is worth noting is that you guys might want to keep an eye on the smaller time frames in order to enter / exit positions with a finer degree of accuracy .

I have uploaded the video trading review of the Long GBP/USD trade I took on yesterday.

Inserted Video


If you have any questions please do ask / post as it helps others learn - also please rate the video as it helps us move up the youtube rankings.

Cheers WG
  • #23,139
  • Jul 4, 2010 11:23pm Jul 4, 2010 11:23pm
Quoting hammerhead
I really don't have any idea what's up with the market these days. It always change its direction and took my SL.
Got BE on this one again...
Dear friend

I didn't post for a while untill I saw your post, I think I need to say something.

When I first learnt Phillip's 4h strategy, I think I have found a good machanic system which I only focus at certain pairs and its 4h chart. The more I learnt, the more I find that I need more traditional strategies to assitant this one. Finally I realised that 4h strategy is such one that a good entry strategy! After using traditional methods to analyse daily/weekly chart, then find good opportunities to entry at 4h chart, which definitely would have a good rhythm to enter with.

First look at daily chart of eu
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What you find is that eu is forming a sHs pattern, which means a consolidation, now it has broken the neck line, we could anticipate that it would go up to meet 89sma of daily chart

Then 4h chart
Attached Image (click to enlarge)
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If you don't use traditional method and only with 4h MACD strategy as a mechanic one. What you first should do is not to find MACD signals but the MAs patterns which means the market rhythm. It is clearly that all the MAs are twisted together, it is a consolidation period which means the MACD signals become malfunction already.

Take a look at USD/CHF 4h chart
Attached Image (click to enlarge)
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This is a typical good market rhythm that shows a good bearish trend. No doubt that you would find lots of good TC signals to enter with. That's the spirit of Phillip's 4h MACD strategy

One more to say. If you concerns fundermental news, these days are blowing greenback's bearish wind. CHF is the most strong currency and EUR is the worst one. But EU is forming a 6-consective-month lose with USD at monthly chart, how could you anticipate it would fallen more at this month?
Plan your trades and trade your plans
  • #23,140
  • Jul 5, 2010 2:19am Jul 5, 2010 2:19am
hi frnds,

can someone pls help me to understand how to run the EA.....unable to run any EA

Regards

Amit
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