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4 Hour Strategy (MACD)

  • #23,641
  • Dec 3, 2010 6:14pm Dec 3, 2010 6:14pm
Quoting charleyhanki
Pipstert2,
Why are you trading off of the H1 chart instead of the H4?
The trade, is off of the 4hr, I'm just using the 1hr for signal comformation.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1hr.gif Size: 33 KB
"speak softly, and carry a big stick" Teddy Roosevelt
  • #23,642
  • Dec 5, 2010 12:22am Dec 5, 2010 12:22am
Quoting pipstert2
The trade, is off of the 4hr, I'm just using the 1hr for signal comformation.
Sometimes I feel that if the 4hr MACD is strong, the 1 hr counter trend signals will not be reliable. If looking at the even lower timeframe, the reversal candle's tail is not long enough. I'm still trying to figure out a definition to consider the tail to be "long" enough. Anyone else notice this behavior?
  • #23,643
  • Dec 5, 2010 1:05am Dec 5, 2010 1:05am
Quoting wuming79
Sometimes I feel that if the 4hr MACD is strong, the 1 hr counter trend signals will not be reliable. If looking at the even lower timeframe, the reversal candle's tail is not long enough. I'm still trying to figure out a definition to consider the tail to be "long" enough. Anyone else notice this behavior?
It's part of Phillip Nel's basic lesson (if you read his pdf). But here we go, I give you an example. See ellipse. That tail cost at least 100pips. Hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 31 KB
  • #23,644
  • Dec 5, 2010 4:45pm Dec 5, 2010 4:45pm
Hey guys! I recently found my self trading way too many pairs. (LOSS many $$) I live in Australia so can anyone recommend which pairs would be best to trade?

Thx
  • #23,645
  • Dec 5, 2010 5:23pm Dec 5, 2010 5:23pm
just seen Phil's weekly report but he always comments on the daily chart, does he know longer trade the MACD on the 4hr?

Darkone try the EJ or GJ, and AU....stop there.
  • #23,646
  • Dec 5, 2010 6:12pm Dec 5, 2010 6:12pm
THX kraven! But I was told JPY currency is too volatile to trade? Their swing movement are longer so you get stopped out easily.

Where can I see Phil's weekly report?

Can anyone pls explain how I can use the MACD_Colored.zip file I downloaded from this forum link? There is a mq4 and ex4 file what do I do with that? I can't open it.

Thx guys.
  • #23,647
  • Dec 5, 2010 6:49pm Dec 5, 2010 6:49pm
Quoting Darkone
Hey guys! I recently found my self trading way too many pairs. (LOSS many $$) I live in Australia so can anyone recommend which pairs would be best to trade?

Thx
Trade your own currency...It is either AUDusd / AUDjpy or the infamous EU. Trade one pair @ a time. Don't event rade when there is no significant signal(s), regardless your trading personality.
  • #23,648
  • Dec 5, 2010 7:06pm Dec 5, 2010 7:06pm
Quoting kraven
just seen Phil's weekly report but he always comments on the daily chart, does he know longer trade the MACD on the 4hr?

Darkone try the EJ or GJ, and AU....stop there.
That is his weekly anticipation. The trick is, if you want to forecast on what will going on for the week, go to the daily. If you want to forecast for the day, go to H4. It is a very basic technique. Widen your view & make your plan based on higher TF, then trade using lower TF. Phillip did that.
  • #23,649
  • Dec 6, 2010 4:47am Dec 6, 2010 4:47am
I went short on EU after it bounced off the 3 month trendline and the 89. The first chart shows the trendline and the 2nd chart shows a close up of the price action on the 4 hr chart. Both charts are of EU 4 hr.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu4hr.gif Size: 30 KB
Click to Enlarge Name: eu4hrcu.gif Size: 20 KB
  • #23,650
  • Dec 6, 2010 5:01am Dec 6, 2010 5:01am
Quoting xeneric
I went short on EU after it bounced off the 3 month trendline and the 89. The first chart shows the trendline and the 2nd chart shows a close up of the price action on the 4 hr chart. Both charts are of EU 4 hr.
Very nice setup..... textbook like...
I also have short on EUR and GBP
My profit target is the 200 SMA on both pairs..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 111 KB
Click to Enlarge Name: gbp.jpg Size: 104 KB
  • #23,651
  • Dec 6, 2010 8:52am Dec 6, 2010 8:52am
Just took 99 pips on my first trade.
"speak softly, and carry a big stick" Teddy Roosevelt
  • #23,652
  • Dec 6, 2010 9:33am Dec 6, 2010 9:33am
Quoting Borism
Very nice setup..... textbook like...
I also have short on EUR and GBP
My profit target is the 200 SMA on both pairs..
Closed my shorts with 40 pip profit... Will wait end see what will happen next..
  • #23,653
  • Dec 6, 2010 5:56pm Dec 6, 2010 5:56pm
shorting eurusd on daily
Attached Image (click to enlarge)
Click to Enlarge Name: eur 6.12.10.gif Size: 14 KB
  • #23,654
  • Dec 6, 2010 10:48pm Dec 6, 2010 10:48pm
Repetition of pattern will happen? See rectangles. This is a long term view & as you can see, the major direction is south per channel.

What do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 31 KB
  • #23,655
  • Dec 6, 2010 11:30pm Dec 6, 2010 11:30pm
Quoting orangeRANGE
Repetition of pattern will happen? See rectangles. This is a long term view & as you can see, the major direction is south per channel.

What do you guys think?
hopefully things are just so simple!
  • #23,656
  • Dec 6, 2010 11:37pm Dec 6, 2010 11:37pm
Quoting yuan83
hopefully things are just so simple!
Are you angry?
  • #23,657
  • Dec 7, 2010 4:21am Dec 7, 2010 4:21am
Went long on Eur and Aud.... profit target 200 sma on daily on GBP, will see for Aussie...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 85 KB
Click to Enlarge Name: gbp.jpg Size: 87 KB
  • #23,658
  • Dec 7, 2010 4:24am Dec 7, 2010 4:24am
Great trades, Boris. nice ct's and tc's. Keep it up

PS: I liked your quote about minds and parachutes more than the actual one.
  • #23,659
  • Dec 7, 2010 5:07am Dec 7, 2010 5:07am
Quoting Borism
Went long on Eur and Aud.... profit target 200 sma on daily on GBP, will see for Aussie...
Long on eur with you!
  • #23,660
  • Dec 7, 2010 5:09am Dec 7, 2010 5:09am
Quoting ira
Long on eur with you!
Sorry, just realized my mistake. I went long on GBP and Aussie....
, but pictures are OK.
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