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4 Hour Strategy (MACD)

  • #23,481
  • Nov 9, 2010 5:39pm Nov 9, 2010 5:39pm
Quoting ashes
market seems to get a bit out of rhythm on the traded pairs
here's a summary of the last two trading days:
http://www.forexfactory.com/showpost...9&postcount=54

the only pair that shows some rhythm is eurusd, entry at 18:00gmt candle close, but I think I'll pass, since price is inbetween 200 and 89 and since the overall market situation is unclear

tomorrow is another day
Hi Ashes

You are right about the rhythm. It fell through the 21 then pulled back to the 21, then fell through the 89 and pulled back to the 89, then fell through the 200 and is now supported by the trendline. I am looking for a pullback to the 200 before testing the trendline again. Like you, I will pass but am watching carefully to see if it will break through the trendline.
Attached Image (click to enlarge)
Click to Enlarge Name: eu4hr.gif Size: 18 KB
  • #23,482
  • Nov 9, 2010 5:54pm Nov 9, 2010 5:54pm
Quoting orangeRANGE
Well, it's been a while since my last post in here. And I'm going to retrain myself again since I am a bit settle down in my personal life atm.

Go here and see what I was doing today:- http://www.forexfactory.com/showpost...&postcount=487

Though I use my own system, but it is still originally created based on this thread and a few experience of mine.

Cheers...
thank you for the link and for the insight to your system.

Regards
  • #23,483
  • Nov 9, 2010 6:48pm Nov 9, 2010 6:48pm
Quoting ashes
thank you for the link and for the insight to your system.

Regards
You are welcome. There is always another trade though. I hope you can get big fish too...
  • #23,484
  • Nov 9, 2010 7:33pm Nov 9, 2010 7:33pm
Quoting xeneric
Hi Ashes

You are right about the rhythm. It fell through the 21 then pulled back to the 21, then fell through the 89 and pulled back to the 89, then fell through the 200 and is now supported by the trendline. I am looking for a pullback to the 200 before testing the trendline again. Like you, I will pass but am watching carefully to see if it will break through the trendline.
Hi Xeneric,

the gmt afternoon/evening has caused a situation which might offer us a few nice entries after pullbacks. eurusd, gbpusd and audusd are candidates.
audusd seems to have surrendered at high resistance and gets ready to move towards 200, bounce off 21. gbpusd might head to 200, too, after pullback to 21. eurusd might leave the 200 behind and drop some more after bounce off 200. by tomorrow we should know more

Greetings
  • #23,485
  • Nov 10, 2010 5:54am Nov 10, 2010 5:54am
I also think USD will gain strength .
Look at this beauty, I love this kind of setups, a bit early as to the rules, no TC yet, but I find them of very high probability. Even if this one will be a loss, I will still take setups like this in future.
Attached Image
  • #23,486
  • Nov 10, 2010 8:28am Nov 10, 2010 8:28am
Quoting ira
I also think USD will gain strength .
Look at this beauty, I love this kind of setups, a bit early as to the rules, no TC yet, but I find them of very high probability. Even if this one will be a loss, I will still take setups like this in future.

Hello Ira,
I was also looking at this pair. What were the reasons to sell, since there is still no TC?
Regards
Boris
  • #23,487
  • Nov 10, 2010 3:45pm Nov 10, 2010 3:45pm
Hi everyone, can anyone pls explain to me why we only use no more than 2 currency pairs for this system?

If so from everyones experience which 2 pairs would be best? Thanks guys!
  • #23,488
  • Nov 10, 2010 5:03pm Nov 10, 2010 5:03pm
Quoting Darkone
Hi everyone, can anyone pls explain to me why we only use no more than 2 currency pairs for this system? If so from everyones experience which 2 pairs would be best? Thanks guys!
I trade futures mostly myself, here's a DX trade I took using this method.

4hr showed a nice test dipping into the 21 EMA.

The 1hr gave a beautiful TC signal about 2 hours later in conjunction with a shakeout bar. The next 4hr bar also happened to be a TC by the time it closed with a nice push through the 89. All the more to stay in the trade

My first target (4hr 200 SMA) was hit, next target for the remaining 2 lots is the previous swing high (not sure it will make it there though).

I have also traded the emini dow with decent results so far.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dxf_macd.jpg Size: 68 KB
Click to Enlarge Name: dxf_macd_1hr.jpg Size: 71 KB
Speculator is just a fancy word for gambler
  • #23,489
  • Nov 10, 2010 5:19pm Nov 10, 2010 5:19pm
Here's the MACD indicator I use for MT4. I found it somewhere on this forum, don't ask me where. LOL.
Attached File(s)
File Type: mq4 4hrMACD.mq4   3 KB | 527 downloads
Speculator is just a fancy word for gambler
  • #23,490
  • Nov 10, 2010 5:21pm Nov 10, 2010 5:21pm
Phillip, you'd have my 5 star vote on this thread. But it seems I can't vote

Here's my 5

*****
Speculator is just a fancy word for gambler
  • #23,491
  • Nov 10, 2010 6:51pm Nov 10, 2010 6:51pm
Quoting Darkone
Hi everyone, can anyone pls explain to me why we only use no more than 2 currency pairs for this system?

If so from everyones experience which 2 pairs would be best? Thanks guys!
I think it is not only for this system we can't trade more than 2 pairs. It is for all systems. The answer is simple:- You don't want to overtrade (overdo it).

I myself only focusing on EU for more than 2 years right now. If there is no signal or if I missed the good entry(ies) / trade(s), there will be another chance sooner / later.

Like Master Phillip always said :- "Better miss a good trade rather than be in the bad ones..."

Good luck 2u...
  • #23,492
  • Edited 6:11am Nov 11, 2010 5:29am | Edited 6:11am
ouff, market is full of indecision this week .. be careful

still I have opened a eurusd short ... but I'll set it be soon, after 1/2 r
http://www.forexfactory.com/showpost...6&postcount=57
  • #23,493
  • Nov 11, 2010 5:04pm Nov 11, 2010 5:04pm
Quoting ashes
ouff, market is full of indecision this week .. be careful

still I have opened a eurusd short ... but I'll set it be soon, after 1/2 r
http://www.forexfactory.com/showpost...6&postcount=57
Nice trade Ashes Congratulations.
  • #23,494
  • Nov 11, 2010 5:29pm Nov 11, 2010 5:29pm
thank you Xeneric, but it is too early to congratulate. have reduced sl to 1/2r and no profits pocketed yet
  • #23,495
  • Nov 11, 2010 6:41pm Nov 11, 2010 6:41pm
Quoting ashes
ouff, market is full of indecision this week .. be careful

still I have opened a eurusd short ... but I'll set it be soon, after 1/2 r
http://www.forexfactory.com/showpost...6&postcount=57
Me too, SELL EU:-
http://www.forexfactory.com/showpost...&postcount=499

Love to see good results, even it is just a demo.

cheers.
  • #23,496
  • Nov 11, 2010 11:09pm Nov 11, 2010 11:09pm
Thanks everyone. I think I will use EUR/USD, AUD/USD, USD,CHF for now.

Does anyone in this forum trade this 4 hour system as a career I mean full time? I think it is a wonderful system and Phillip has done more than enough to teach everything he knows about it.
  • #23,497
  • Nov 12, 2010 12:10am Nov 12, 2010 12:10am
Quoting Darkone
Thanks everyone. I think I will use EUR/USD, AUD/USD, USD,CHF for now.

Does anyone in this forum trade this 4 hour system as a career I mean full time? I think it is a wonderful system and Phillip has done more than enough to teach everything he knows about it.
Great, please post your trades.
  • #23,498
  • Nov 12, 2010 12:13am Nov 12, 2010 12:13am
gbpusd may offer us a short signal if it not already has.
but to be sure aout it, I'd like to see a clean bounce off 21.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp 4h 12.11.10.gif Size: 13 KB
  • #23,499
  • Nov 12, 2010 12:22am Nov 12, 2010 12:22am
Quoting orangeRANGE
Me too, SELL EU:-
http://www.forexfactory.com/showpost...&postcount=499

Love to see good results, even it is just a demo.

cheers.
looks like good results are on their way
  • #23,500
  • Nov 12, 2010 5:55am Nov 12, 2010 5:55am
Quoting Borism
Hello Ira,
I was also looking at this pair. What were the reasons to sell, since there is still no TC?
Regards
Boris
Yes, there were no TC, but I was anticipating the move down from 21. Also the tail convinced me. I hardly ever look at MACD signals now, I trade on the rhythm.
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