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4 Hour Strategy (MACD)

  • #23,961
  • Feb 10, 2011 12:40pm Feb 10, 2011 12:40pm
Quoting orangeRANGE
rR = 25pips using H1 breakout strategy. Also, my previous H4 candle break above 365ema & weekly resistance @ 82.66.

Let's wait & see the result.
TP hit...
  • #23,962
  • Feb 10, 2011 3:14pm Feb 10, 2011 3:14pm
breakout of congestion with MACD confirmation
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  • #23,963
  • Edited Feb 11, 2011 2:43am Feb 10, 2011 3:46pm | Edited Feb 11, 2011 2:43am
going short eurusd (after having missed a long trade yesterday)
price has gone through 89sma and 21/8ema strongly after bounce off 1,3755 support. it has then recovered near 21ema and bounced off this ma. if short momentum persists it could go near daily 89sma.
sl at 4h 89sma = 70 pips. 1/2tp=atr21=52pips, tp=104pips
(entered 45min before candle close)

edit:
price missed 1/2tp for 2 pips, setting trade sl=be
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  • #23,964
  • Feb 10, 2011 9:04pm Feb 10, 2011 9:04pm
Opportunity of using early H1 box breakout strategy for both pairs. However, UJ might be a little slow today because of Japan's bank holiday. So, pay more attention to UCHF atm.

Comments/questions are most welcome.
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  • #23,965
  • Feb 10, 2011 9:13pm Feb 10, 2011 9:13pm
Quoting ashes
going short eurusd (after having missed a long trade yesterday)
price has gone through 89sma and 21/8ema strongly after bounce off 1,3755 support. it has then recovered near 21ema and bounced off this ma. if short momentum persists it could go near daily 89sma.
sl at 4h 89sma = 70 pips. 1/2tp=atr21=52pips, tp=104pips
(entered 45min before candle close)
Ashes,
Could you explain how you arrived at this figure ("1/2tp=atr21=52pips") I do not see the ATR indicator anywhere in your chart. Missing something, apparently.

Thank you
  • #23,966
  • Feb 11, 2011 2:41am Feb 11, 2011 2:41am
Quoting MidnightRun
Ashes,
Could you explain how you arrived at this figure ("1/2tp=atr21=52pips") I do not see the ATR indicator anywhere in your chart. Missing something, apparently.

Thank you
I have included atr21 just as value to the rsi window.
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  • #23,967
  • Feb 11, 2011 6:54am Feb 11, 2011 6:54am
Quoting orangeRANGE
Opportunity of using early H1 box breakout strategy for both pairs. However, UJ might be a little slow today because of Japan's bank holiday. So, pay more attention to UCHF atm.

Comments/questions are most welcome.
Oh well..missed their breakout due to busy work today...nvm...next time then.
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  • #23,968
  • Feb 11, 2011 8:36am Feb 11, 2011 8:36am
Daily macd making LH. Expecting bullish movement next week. Have a great week people.

Cheers...
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  • #23,969
  • Feb 13, 2011 3:21am Feb 13, 2011 3:21am
Quoting Tedge UK
breakout of congestion with MACD confirmation
took profit at t/l.
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  • #23,970
  • Feb 14, 2011 1:59am Feb 14, 2011 1:59am
on daily chart price has created a lower high and now stalls at the baseline of this formation, at 21ema and 89sma.
we could expect a bounce as well as a break, time will tell.

on 4h the lower tl had been broken and price stalled at daily 89sma or 1,3500 support.
there is a good chance for a bounce of 21ema area to test support again. I'll be carefully watching this area.
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  • #23,971
  • Edited 3:55am Feb 14, 2011 2:26am | Edited 3:55am
Quoting ashes
going short eurusd (after having missed a long trade yesterday)
price has gone through 89sma and 21/8ema strongly after bounce off 1,3755 support. it has then recovered near 21ema and bounced off this ma. if short momentum persists it could go near daily 89sma.
sl at 4h 89sma = 70 pips. 1/2tp=atr21=52pips, tp=104pips
(entered 45min before candle close)

edit:
price missed 1/2tp for 2 pips, setting trade sl=be
edit:
moving tp to 3r, 1,3439. price bounces off 21ema and may break support to move further down to 4h 200sma

edit:
price broke through 1,3500 and is currently recovering. I assume a confirmation of now resistance.
however I have moved sl to 1r to bank some pips in case I'm wrong
  • #23,972
  • Feb 15, 2011 1:18pm Feb 15, 2011 1:18pm
gold heading north again?
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  • #23,973
  • Feb 15, 2011 3:31pm Feb 15, 2011 3:31pm
Hi guys!
I love this thread, has good stuff in it and no much posting around - so nice to follow

Here are my three trades [I marked all signal candles with grey vertical lines]:

first USDCAD
I marked two trades on it. First with green triangle - it is a signal candle for short, as MACD after correction started to fall again.

But after foru hours I closed that short and went long, as MACD go up again creating divergence [higher bottoms on MACD vs. equal bottoms on chart]. this second trade also goes in pair with support [you can see it on a left side of chart]. I have closed half at +20 and moved SL to BE. I set also final TP as you can see, because it looks to me like sideway PA rather than trend reversal.


Second Gold.
This one I opened on 11 FEB, apart of chart I am convinced that gold will rise on risk aversion and inflation fear - and that's why I held position in spite of initial loss, I took as a SL 3 days low.

On a chart you can see two dips on MACD - second was above zero and adequate bottom in price was higher than the first one. That's why I decided to buy it. I still keep my oryginal SL with about $10 of advance in price at the moment. I plan to buy more on the next signal up.


If you don't mind to comment I will apreciate...
Chris
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  • #23,974
  • Edited 9:53pm Feb 15, 2011 8:57pm | Edited 9:53pm
Hi Phillip and everyone,

I have a question regarding timeframe confict. If you see a signal on 4H but on daily the price is near significant MAs such as 21, 89, 200, will you take it? Do we have to care about daily chart if we are trading the 4H system?

Thank you.
  • #23,975
  • Feb 16, 2011 4:19am Feb 16, 2011 4:19am
Quoting March2011
Hi Phillip and everyone,

I have a question regarding timeframe confict. If you see a signal on 4H but on daily the price is near significant MAs such as 21, 89, 200, will you take it? Do we have to care about daily chart if we are trading the 4H system?

Thank you.
I am new in this particular thread, but I see it this way. Whatever you trade, you would rather have a lot of S/R fibs & pivots right between your entry and SL. Trading 4H doesn't mean price will not react to daily chart, it will, therefore you take extra care if decided to enter the trade.

However sometimes I set my partial TP at the important level from other TF [daily or weekly] and set myself at BE, as soon as the level is reached.

thirdly if you can see S/R on daily how come can you not to see it on 4H?
  • #23,976
  • Edited Feb 17, 2011 2:31am Feb 16, 2011 8:03am | Edited Feb 17, 2011 2:31am
short entry ahead in a few candles time.
price is preparing to break through tl, 200sma.
waiting for a lower high and bounce off 21ema to enter

edit:
price didn't move as assumed and bounced off 200sma and tl.
89sma and 200sma are narrowing it in.
maybe a bounce off 21ema could make for a call later on, with target 89sma
... or it may go south and finally break 200sma and tl. time will tell
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  • #23,977
  • Feb 16, 2011 8:06am Feb 16, 2011 8:06am
Quoting Krysztau
Hi guys!
I love this thread, has good stuff in it and no much posting around - so nice to follow

Here are my three trades [I marked all signal candles with grey vertical lines]:

first USDCAD
I marked two trades on it. First with green triangle - it is a signal candle for short, as MACD after correction started to fall again.

But after foru hours I closed that short and went long, as MACD go up again creating divergence [higher bottoms on MACD vs. equal bottoms on chart]. this second trade also goes in pair with support [you can see it on a...
Hi Chris,
it looks like you base your trades mainly on macd, as the moving averages, that are part of the marketrhythm idea, are missing. relevant ct and tc entries. well done.
  • #23,978
  • Feb 16, 2011 10:24am Feb 16, 2011 10:24am
Quoting Krysztau
I am new in this particular thread, but I see it this way. Whatever you trade, you would rather have a lot of S/R fibs & pivots right between your entry and SL. Trading 4H doesn't mean price will not react to daily chart, it will, therefore you take extra care if decided to enter the trade.

However sometimes I set my partial TP at the important level from other TF [daily or weekly] and set myself at BE, as soon as the level is reached.

thirdly if you can see S/R on daily how come can you not to see it on 4H?
I think March2011 is referring to the Moving Averages in multiple time frames. They will be different on different timeframes and this 4hr MACD system is based on them too. How do you see 4hr 89ma in a daily chart as S/R? This is also my question. Rather confusing too.
  • #23,979
  • Feb 17, 2011 5:11am Feb 17, 2011 5:11am
Hello guys.
What do You think about these?
Thanks for Your comments.
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  • #23,980
  • Feb 18, 2011 4:00am Feb 18, 2011 4:00am
Nope I am not igniting a new strategy. Just want to say that I found this thread and the strategy 2 years ago.

Still exist until now?

Its nice for such a thread.



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