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4 Hour Strategy (MACD)

  • #24,461
  • Aug 1, 2011 7:09am Aug 1, 2011 7:09am
I installed the MACD colored indicator. Only on the AUS/USD it is showing the signal (it has RT, VT, TC and so on)
But on all the others: euro, cable and JPY ther is nothing.. What's that all about?
  • #24,462
  • Aug 1, 2011 8:41am Aug 1, 2011 8:41am
I have to close trade today, leaving.
but made a nice 45pips.
Attached File(s)
File Type: doc 110729AUDUSD CLOSING.doc   278 KB | 321 downloads
Yvon
  • #24,463
  • Aug 1, 2011 10:19am Aug 1, 2011 10:19am
Quoting glacier
What do you mean by 400 candle, 1200 candle and so on? And why does that mean that we should not trade?
Sorry if it's a dumb question, but it eludes me, and I searched but found no explanation..
Just read the first post on the Journal Thread and you will see why I can only trade the 12:00 and 16:00 candle closure. I did some backtesting and have decided to trade it the way I explained it.
Thanks
Phillip
  • #24,464
  • Aug 1, 2011 11:14am Aug 1, 2011 11:14am
Quoting glacier
What do you mean by 400 candle, 1200 candle and so on? And why does that mean that we should not trade?
Sorry if it's a dumb question, but it eludes me, and I searched but found no explanation..
000, 400, 800, 1200, 1600 are TIMES the candles close or open for that matter, using 24 hour clock style

Perhaps better written as 00:00, 04:00, 08:00, 12:00, 16:00

but when spoken we say O 400, O 800, etc hope that explains
OPPORTUNITY IS NOWHERE
  • #24,465
  • Aug 1, 2011 11:20am Aug 1, 2011 11:20am
One of the nicer Head & Shoulders you'll ever see.
This is a strong bearish signal, and I would not take CT trades in the present environment.
Attached Image (click to enlarge)
Click to Enlarge Name: head&shoulders.gif Size: 31 KB
  • #24,466
  • Aug 1, 2011 11:47am Aug 1, 2011 11:47am
Quoting Hookem28
One of the nicer Head & Shoulders you'll ever see.
This is a strong bearish signal, and I would not take CT trades in the present environment.
Long time, no see. Welcome back
Raymond
  • #24,467
  • Aug 1, 2011 5:27pm Aug 1, 2011 5:27pm
Quoting Callisto
000, 400, 800, 1200, 1600 are TIMES the candles close or open for that matter, using 24 hour clock style

Perhaps better written as 00:00, 04:00, 08:00, 12:00, 16:00

but when spoken we say O 400, O 800, etc hope that explains
Sh*t, even though I speak fluent English, sometimes I get so wound up in those abbreviations that I don't "see the tree from the forest.." and today was a terrible day for me so no wonder..
Thanks
  • #24,468
  • Aug 1, 2011 5:29pm Aug 1, 2011 5:29pm
Quoting Phillip Nel
Just read the first post on the Journal Thread and you will see why I can only trade the 12:00 and 16:00 candle closure. I did some backtesting and have decided to trade it the way I explained it.
Thanks
Phillip
OK! I read it when you started the thread, but I guess I did not pay enough attention..
  • #24,469
  • Edited 8:53pm Aug 1, 2011 8:12pm | Edited 8:53pm
Greetings to one and all....good to see Phillip's 4hr is still appreciated after so many years....glad FF came up with the commercial forum......
May as well throw a chart on here while I'm at it.....nothing to trade......yet ...but something to watch....these tension building small candles with the nicely aligned 8,21 and 89.....just waiting on a tc for a short....hope its not on a huge candle like the 80 pip tall one I just skipped.....may watch it simultaneously on the 1hr.
Looking at the bigger picture....the daily chart shows a nice push off the 21.....but notice the head and shoulders pattern.....if it breaks it ....wheres it going?...Weekly chart may give a clue.....the 89.....blue ma....notice the macd crossing center on the weekly......its so close .....will it fall? Stay tuned..........stupid news could ruin it all.....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 30 KB
Click to Enlarge Name: eurgbp 1hr.gif Size: 32 KB
Click to Enlarge Name: eurgbp daily.gif Size: 28 KB
Click to Enlarge Name: eurgbp weekly.gif Size: 29 KB
  • #24,470
  • Aug 1, 2011 9:41pm Aug 1, 2011 9:41pm
Quoting Morelands
Long time, no see. Welcome back
Raymond
Hi Morelands,
Glad to see you and Phillip are still around.
  • #24,471
  • Aug 1, 2011 10:08pm Aug 1, 2011 10:08pm
Was just reading your plan Phillip that you outlined in your journal. I must say it is a true test of the system....If it will work on those times is will work on any. I understand that these are the candles that you are able to trade with your schedule.......
To explain....the 1200 candle on a gmt -0 chart is the candle that is formed from 8am until 1200 noon in new york city......new york time is gmt-4 so the 1200 candle starts at 0800 new york time.....so its at noon NYC time just as the London market is closing that Phillip looks at the eurusd 1200 candle close to see if there is a signal....you can imagine how the "personality" of the market can change when now only the U.S. and Canadian traders are making up most of the "collective consciousness" that is the forex market. In other words alot of the ideas and emotions of the people that made that candle signal are no longer in the market to carry there idea on thru....they are now away from their computers and having a beer at the pub.....He's trying to trade forex AFTER the majority of market movement has occured while london and New York were both open........
Then to check it at the close of the 1600 candle....which is closing at 4pm New York time...the same time the NewYork Session closes........Now all that is open is Sydney......
This is that time of day when you think your platform feed has stopped because the chart just lays there dead sometimes....and also spreads can get wide due to low liquidity.......if there is indeed a signal on this candle it means you are relying on the asian session to not do something stupid and take out your stops before the london session starts.....I salute you sir......and await your results with keen anticipation!!!
  • #24,472
  • Aug 2, 2011 12:21am Aug 2, 2011 12:21am
Poor me, I always thought Londoners get up 5 hours before New Yorkers! So am I wrong or have you mixed up GMT - which is not aware of Summertime ( Daylight Saving Time DST) with a local time which has DST applied?

Regards

Forex37
  • #24,473
  • Aug 2, 2011 2:03am Aug 2, 2011 2:03am
Quoting Forex37
Poor me, I always thought Londoners get up 5 hours before New Yorkers!
Any problem with the global time.
The following page can help you

http://www.forexfactory.com/market.php

David Wu
  • #24,474
  • Aug 2, 2011 2:40am Aug 2, 2011 2:40am
Well, is it me having a problem?

http://www.timeanddate.com/worldcloc...ce.html?p1=136


Regards

Forex37
  • #24,475
  • Aug 2, 2011 6:34am Aug 2, 2011 6:34am
Euro is consolidating right now. Waiting for it to break out and give direction.
Attached Image (click to enlarge)
Click to Enlarge Name: consolidation.gif Size: 23 KB
  • #24,476
  • Aug 2, 2011 9:36am Aug 2, 2011 9:36am
Quoting Forex37
Poor me, I always thought Londoners get up 5 hours before New Yorkers! So am I wrong or have you mixed up GMT - which is not aware of Summertime ( Daylight Saving Time DST) with a local time which has DST applied?

Regards

Forex37
yea if you go to the wwp.greenwichmeantime.com site you will see that currently London is on British Summer Time which is gmt+1...and if you chose New York City from the drop down menu ...you will see that it is gmt-4....making them 5hours apart....gmt and london time are not always the same time....London time will change half the year. As I am typing this it is 2:25 in the afternoon GMT....3:25London and 10:25 in the morning NYC time. Which means I'm way behind on my coffee drinking this morning! Gotta go catch up....
  • #24,477
  • Aug 2, 2011 10:49pm Aug 2, 2011 10:49pm
Don't hear anyone talking about these nice ones in the usdchf.....
easy pickins just by watching the bigger picture on the 4hr
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 4hour.gif Size: 24 KB

wait for a hesitation in the market of several hours on the hourly charts and then enter with closer stop
....big pip moves.....notice last tc did not have enuf consolidation time....
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf hourly.gif Size: 27 KB

Now its consolidating again....will it fall again?

I made an indicator for the 4hrMACD system. Just attach it to a blank chart and it will put all the ma's on it for you...its set to 200, 89, 21, and 8
Attached File(s)
File Type: mq4 PhilipNelsMaSet.mq4   3 KB | 569 downloads

You can set each Ma to what you want including any shift,exponential or simple,based on open close whatever you want for each Ma in the 4Ma's and of course color and style for each one....enjoy!
  • #24,478
  • Aug 5, 2011 11:04am Aug 5, 2011 11:04am
Quoting JimDandy
Was just reading your plan Phillip that you outlined in your journal. I must say it is a true test of the system....If it will work on those times is will work on any. I understand that these are the candles that you are able to trade with your schedule.......
To explain....the 1200 candle on a gmt -0 chart is the candle that is formed from 8am until 1200 noon in new york city......new york time is gmt-4 so the 1200 candle starts at 0800 new york time.....so its at noon NYC time just as the London market is closing that Phillip looks at the eurusd...
As you said it will take guts. 2 Losses in a row for a start. That is really testing the trading plan. But I will continue as my backtesting have shown that it can work. Lots of turmoil in the world today. I have said 4 weeks ago my stock charts shows some heavy downtime and it looks like it has started to happen. Even the Forex will be volatile so lets see if my trading plan can stand the test.. Great to see you are still around. Phillip
  • #24,479
  • Aug 6, 2011 8:19am Aug 6, 2011 8:19am
Hi there,
I´m trading FX since Dez.2009. I had my loses and I had my wins, so far.
For two/three month now I´m kinda getting nuts... winning and loosing and loosing and loosing, then winning and loosing again...
I´m following this Thread for quite some time now and finally I came up with this idea, to improve confidence:

I would like post the next trades and why I took them and would like to hear what someone else is thinking about the action.

I actually don´t like the "public-internet-doohickie-thing", so maybe it´ll stay an idea... but for now, I think it might be a good idea to see other point of views!!

Well then, keep up the good work, people!!
best regards,
Matt
  • #24,480
  • Edited 12:37pm Aug 8, 2011 12:34pm | Edited 12:37pm
a just close a trade at 116 pips profit..nice TC, and used FIB rejection. again the ATR was high on the last candle, possibility then of higher profit ...that just followed.
Attached File(s)
File Type: doc 110808USDCHF.doc   262 KB | 335 downloads
Yvon
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