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4 Hour Strategy (MACD)

  • #24,041
  • Mar 29, 2011 10:31am Mar 29, 2011 10:31am
Quoting balba77
This trade finally went wrong. I didnīt noticed the close of the candle below the 21 EMA, as Raymond and benjamin000 did.
I supossed that today iīm a little more poor but wiser than yesterday.

Thankx for the comments, i really appreciate them.
Bernardo.

PD: English is not my native language, so, please forgive me if i make some spelling or grammar mistakes

Look at it like this, I can only speak 1 language and my wife says I'm not very good at it.
  • #24,042
  • Mar 29, 2011 10:54am Mar 29, 2011 10:54am
Quoting Morelands
Look at it like this, I can only speak 1 language and my wife says I'm not very good at it.
i am fluent in chinese as i was born here,shows that i am a lucky guy? haha.very happy to meet all of you here. good trading
  • #24,043
  • Mar 29, 2011 10:58am Mar 29, 2011 10:58am
as the price still go up and down between the 2 MA, it`s hard for the trading.i am begin watching the 5min strategy, will use it much more carefully
  • #24,044
  • Mar 29, 2011 4:29pm Mar 29, 2011 4:29pm
Here is a trade I'm still in. I believe it is a little riskier than I normally take so I've taken 1/2 of the position off the table, something I don't typically do. The GBP is in a ranging period so I don't really use MA to take TC during this period (TC stand for trend continuation and right now there is no trend). I look for candle pattern only around the perimeters of the range. The 1st chart shows the 4 hr. Notice the nice bullish engulfing candle. It shows strong support from the support of the trading range. At this point I'm waiting for things like what happened today, a double bottom towards the end of British trading period. The 1 hr chart/2nd chart shows a morning star formation (weaker than I would typically like). The second half of the position is at BE
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  • #24,045
  • Mar 31, 2011 6:07am Mar 31, 2011 6:07am
Hi guys,

Please help me explain following situation (in the pink box).
There is a buy signal - candle 1 (at 1.4103). Let's say you haven't taken your profit yet and in the mean time you get the opposite signal - candle 2 (at 1.4064). And now what?

Would you take both trades or would you stop the first trade when the second one appears?

Thank you.

R
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  • #24,046
  • Mar 31, 2011 10:42am Mar 31, 2011 10:42am
Quoting Rodrigo
Hi guys,

Please help me explain following situation (in the pink box).
There is a buy signal - candle 1 (at 1.4103). Let's say you haven't taken your profit yet and in the mean time you get the opposite signal - candle 2 (at 1.4064). And now what?

Would you take both trades or would you stop the first trade when the second one appears?

Thank you.

R
for myself,i did not take any trade the past several days,for the price is in the range,and the channel seems too small meanwhile the candle is large,so the signal here is not so good,or the R:R is bad. till 4:00 3-31(GTM+8),the candle closed above 8EMA(21EMA,as them were so close),the market seems to find its way to go bullish again, and the following two candle proved it. now i waiting the pullback to the EMAS,then i can get a TC.
its hard this period,but the price make a higher high(compare to the just last high), i think its find the way up again.
  • #24,047
  • Edited 4:40pm Mar 31, 2011 4:24pm | Edited 4:40pm
Quoting Rodrigo
Hi guys,

Please help me explain following situation (in the pink box).
There is a buy signal - candle 1 (at 1.4103). Let's say you haven't taken your profit yet and in the mean time you get the opposite signal - candle 2 (at 1.4064). And now what?

Would you take both trades or would you stop the first trade when the second one appears?

Thank you.

R
You need to get away from just looking at the MACD. Look at price action in certain areas. Right now the EUR is in a wedge, so look to buy at where price seems to change directions...see the arrows on the daily. Price is heading up so we look for places to buy until the 21MA (green MA)/trendline is broken. When price closes below those areas on the daily, we will no longer look for buys. When we are in a consolidation period look for RT and RB near the perimeter of the range and not the middle.
Raymond
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  • #24,048
  • Apr 1, 2011 3:01am Apr 1, 2011 3:01am
Hi guys,

Thank you for your explanation. So what I understood is that this situation shouldn't occur.
What I learned is this:

The second trade was counter trend trade (on the candle 2). There was no significant pattern on MACD (double top, round top or lower high) for a short trade.
The candle 1 closed above SMA 89 but below EMA 8 so the market rhythm was still bullish even if not strongly bullish. But the entry on candle 1 should be correct (trend continuation). Am I right? I know, the stop loss would be 80 pips (too much). Or two candles before candle 1 would be the right entry. In that case SL would be some 55 pips which is acceptable.
I do not include daily chart in my consideration in order to make it simple but maybe I should do it. I am just trying to analyze some situations with your help and learn from it.

R
  • #24,049
  • Apr 2, 2011 5:39pm Apr 2, 2011 5:39pm
We are coming up on a lot of resistance on the EUR, 5 different long term levels.
1) see the price resistance from back in '95
2) the price resistance in 2010
3) the upper trendline
4) the 76.4 retracement from the previous move down
5) the 61.8 retracement from the move up (from '05 to '08)

This is a lot of long term resistance. Long term resistance tends to be very strong, therefore I'm going to be a little more aggresive with my trade when it come to a counter trend.

Raymond
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  • #24,050
  • Apr 3, 2011 3:48am Apr 3, 2011 3:48am
Quoting benjamiin000
as the price still go up and down between the 2 MA, it`s hard for the trading.i am begin watching the 5min strategy, will use it much more carefully
what are rules and conditions for the (5min strategy) ... ????
could you please give a link to where i can read more about this strategy ... ????

any help will be highly appreciated .....!!!!
  • #24,051
  • Apr 3, 2011 5:04am Apr 3, 2011 5:04am
Quoting khalidhassan
what are rules and conditions for the (5min strategy) ... ????
could you please give a link to where i can read more about this strategy ... ????

any help will be highly appreciated .....!!!!
Right here -----> 5Min Intraday System

I don't know why they didn't go to 15 Minutes, but that is another story I suppose....
Canadian by birth Australian by choice
  • #24,052
  • Apr 3, 2011 10:44am Apr 3, 2011 10:44am
Quoting thesnowman
right here -----> 5min intraday system

i don't know why they didn't go to 15 minutes, but that is another story i suppose....
tell me please about 15min strategy , they could confirm each other ..


Sorry for disturbing you .....!!
  • #24,053
  • Apr 5, 2011 11:06pm Apr 5, 2011 11:06pm
Hi,

I am a new in trading, my job is from morning 9 to 6 pm evening singapore time.
This 4 hour strategy is very much neat and easy but i faced the problem is exit strategy as i dont have a that much time to sit infront of PC, so can u please give me some tips for exit strategy in this system.

Thanks & Regards,

Umesh Patel
  • #24,054
  • Apr 6, 2011 12:28am Apr 6, 2011 12:28am
To,
Phillip Nel

Hi,

I am a new in trading, my job is from morning 9 to 6 pm evening singapore time.
This 4 hour strategy is very much neat and easy but i faced the problem is exit strategy as i dont have a that much time to sit infront of PC, so can u please give me some tips for exit strategy in this system.

Thanks & Regards,

Umesh Patel
  • #24,055
  • Apr 6, 2011 1:20am Apr 6, 2011 1:20am
Quoting umpats
To,
Phillip Nel

Hi,

I am a new in trading, my job is from morning 9 to 6 pm evening singapore time.
This 4 hour strategy is very much neat and easy but i faced the problem is exit strategy as i dont have a that much time to sit infront of PC, so can u please give me some tips for exit strategy in this system.

Thanks & Regards,

Umesh Patel
umpats

Have you seen this website? There is SO MUCH material available for this method

LESSONS
Canadian by birth Australian by choice
  • #24,056
  • Apr 6, 2011 1:25am Apr 6, 2011 1:25am
TheSnowman http://www.forexfactory.com/images/s...ser_online.gif
Member

To,

TheSnowman

Thank you very much sir for your reply.

But can u guide me in this matter because going through this forum confuse me about the exit.
If u have any idea please help me sir.

Thanks


Umesh Patel
  • #24,057
  • Edited 1:18pm Apr 6, 2011 1:09pm | Edited 1:18pm
Quoting umpats
TheSnowman http://www.forexfactory.com/images/s...ser_online.gif
Member

To,

TheSnowman

Thank you very much sir for your reply.

But can u guide me in this matter because going through this forum confuse me about the exit.
If u have any idea please help me sir.

Thanks


Umesh Patel
Exits are determined by the combination of price action, moving averages, MACD readings.

All your questions are answered in Post #1, get a demo program and watch price action, do some trades, this is an awesome system but you need to put in some hard study, we can't just tell you things like "exit is 35 pips" - it's not a mechanical system.
Canadian by birth Australian by choice
  • #24,058
  • Apr 6, 2011 8:45pm Apr 6, 2011 8:45pm
To,

TheSnowman.

Thank you very much, i will follow your guidance.

Regards,

Umesh Patel
  • #24,059
  • Apr 7, 2011 4:31am Apr 7, 2011 4:31am
Fantastic trade example shown on the charts, excellent explanation also, you can learn from this!

Quoting shreem
Hello all, just wanted to post another very nice exemple of a very profitable trend continuation (TC) in harmony with the current motion of the market with the USD/CAD yesterday on the Nonfarm Payroll day. The beauty of this trade is that it was already showing the direction of the market before the news. (some big players do really have an edge for the direction of the market).

Price was in a confirmed downtrend (under 89SMA) and price retraced to the 21 EMA and then continue it current direction with a TC on MACD. We could have entered either...
Canadian by birth Australian by choice
  • #24,060
  • Apr 7, 2011 6:11am Apr 7, 2011 6:11am
To carry on from the last post, which links back to charts from 2007, be sure to look at them, and then have a look at these charts, also of CAD/USD, but only a few days ago.

MACD gives signal on 4 Hour chart, more confirmation on the 1 Hour; virtual a risk free entry at the close of that bar comments?

Zoomed right in for your viewing convenience.
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Canadian by birth Australian by choice
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