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Attachments: 4 Hour Strategy (MACD)
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4 Hour Strategy (MACD)

Quoting Morelands
Here is a possible set up on the GbP. Resistance becomes support? Look for a nice TC or candle formation. If it happens tonight I'll probably miss it. I've got to get some sleep.
Raymond
Yes indeed something is cooking ! A TC from support is possible(...while you'll be sleeping! :-)
-maybe you'll be right on time when the door of the oven will open!

thanks for the Hint Moreland!

Yvon
Yvon
Dear All,

This trading strategy has proved to be invaluable. I have made profitable trades by just following the rules. Hope this will help you.

thanks.
Attached File(s)
File Type: doc 4hr rules.doc   26 KB | 1,180 downloads
"Flow with the market rhythm and the pips will come to you."
Quoting Price Motion
Dear All,

This trading strategy has proved to be invaluable. I have made profitable trades by just following the rules. Hope this will help you.

thanks.
thank you for bringing in a few pages the rules of the 4h.

I do very appreciate . I have already printed a copy for me. It is a very good work, I will take good care of it.

and as you wrote: "thank you very much Phillip!" hope you don't mind if I am joinning you on that sentence.
Yvon
Yvon
Hi, Traders, Have been following this thread for some time now.

Saw this TC, but have seen such pattern some time back. Didnot enter due to the trendlines and the huge SL.

Thanks Philip and the rest of the followers, Also Edonya, hez my mentor around here.


Comments are welcome...
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Have not entered GBP, on the 15 min chart we are still making lower highs and lower low. Plus, it is getting a little late in the day to see any real moves, but who knows. Another reason not to go long is the open of the US stock market, risk off
Raymond
Hi,
does anyone have a programme which shows you size of a spread?
Thanks a lot!
Long GBP TP at 6580 and 6600
I took half profit at 6568 and the rest at BE. Can't post the chart right now...typical
Raymond

Edit: out at 80 for the rest.
Quoting NViet
Hi,
does anyone have a programme which shows you size of a spread?
Thanks a lot!
Attaching one it is not a program, just indicator.. put it into Program Files/yourbrookermetatrader/experts/indicators/ restart metatrader..
Attached File(s)
File Type: mq4 Spread.mq4   3 KB | 283 downloads
Here is my trade for the day. The 1st chart is the 4 hr. The blue rectangle shows resistance from previous price action. Also providing support is the trend line and the 21 MA (green). That is a lot of reasons to be long at that time. I did not enter on the TC indicated by the arrows. If I would have I would have gotten a better entry price. Mine was 6513
The second chart is the 1 hr. The yellow arrow shows where I entered. Price initially shot up the the high 20's maybe even reached 30, I don't really remember. All I know is it went from 00 to the high 20's quickly. I entered when price came down a bit. The point is you can see how the close of the 1 hr candle engulfs a lot of previous candles. That shows strength to the up side. Given all the reasons I stated before to go long, this seemed like the time to do it. You can see the tail of the next candle actually took out the low of the candle I entered on. If I would of had a tight SL it would have been taken out. I mentioned in my previous posts how that can happen and how much I like when that happens.
The next chart shows where a more seasoned trader would have exited, see the divergence. But I got a little chicken, to be honest, and closed the 1st at 68 (At least I think...I posted it earlier) and 80. I based the 80 on the previous high and 6600 b/c it was a round #.
That's it
Raymond
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Quoting Morelands
Here is my trade for the day. The 1st chart is the 4 hr. The blue rectangle shows resistance from previous price action. Also providing support is the trend line and the 21 MA (green). That is a lot of reasons to be long at that time. I did not enter on the TC indicated by the arrows. If I would have I would have gotten a better entry price. Mine was 6513
The second chart is the 1 hr. The yellow arrow shows where I entered. Price initially shot up the the high 20's maybe even reached 30, I don't really remember. All I know is it went from 00 to...

congrats! nice shot. - the ironic part is that I was not around for that trade that you annonced in advance---nice trade!
Yvon
Yvon
Quoting trademin
congrats! nice shot. - the ironic part is that I was not around for that trade that you annonced in advance---nice trade!
Yvon
thanks, sorry you missed it. Did you get my pm
Raymond
Looks like there are higher prices to come based on the daily candle. Look for consolidation, TC, and/or candle patterns
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Quoting Morelands
Looks like there are higher prices to come based on the daily candle. Look for consolidation, TC, and/or candle patterns
isnt it a fake breaking? i always confuse about it .
A chart helps those who can read it.
Quoting Morelands
Looks like there are higher prices to come based on the daily candle. Look for consolidation, TC, and/or candle patterns
You having any success with this pair, Morelands?
Ii's been so jerky-jerky that I've been trading primarily EURGBP and GBPUSD using the 4-Hour Strategy.
  • Post #24,556
  • Quote
  • Edited Aug 28, 2011 8:29am Aug 27, 2011 1:55pm | Edited Aug 28, 2011 8:29am
Quoting Hookem28
You having any success with this pair, Morelands?
Ii's been so jerky-jerky that I've been trading primarily EURGBP and GBPUSD using the 4-Hour Strategy.
Yes, I've been primarily trading this one and I think I've posted some of the trades on the site. The GBP/USD has been the one I've avoided recently b/c I just haven't seen anything, except for the one I took towards the end of last week. Apparently you are seeing more, so good for you. Sometimes I guess each one of us sees different things. I do think it has been tough trading recently. However, I think we have broken out of the ranging period on the EUR/USD until we hit b/t 1.4850 and 1.5150. (If you follow Elliot wave, I thing we have started the 5th wave of the c correction) Once we get up to that range and I see divergance on the 4hr, I'm going to place a larger trade than normal (maybe 2-3% of my capital). I'll take some off the table and let the rest run b/c I think we are going to see a big run down. We should see the S&P begin to fall then too. That is just one of my long term plans and we see whether it shows up in the charts.

Good to see you. I wish you would post more of your trades. Many pips to you
Raymond

Edit: Actually, GBP was 2 times recently
Quoting Morelands
Yes, I've been primarily trading this one and I think I've posted some of the trades on the site. The GBP/USD has been the one I've avoided recently b/c I just haven't seen anything, except for the one I took towards the end of last week. Apparently you are seeing more, so good for you. Sometimes I guess each one of us sees different things. I do think it has been tough trading recently. However, I think we have broken out of the ranging period on the EUR/USD until we hit b/t 1.4850 and 1.5150. (If you follow Elliot wave, I thing we have started...
Hi Morelands,
I have the same opinion like you. Maybe it will pull back to 8ema on 4h and than it will breaks the trendline. My trendline is a little bit different. But according to 1d chart I would expect higher prices come up. The videos by sion smith that you recommend on this thread helped me a lot. I would like to say thank you.
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  • Post #24,558
  • Quote
  • Edited Sep 1, 2011 4:29am Aug 31, 2011 7:55am | Edited Sep 1, 2011 4:29am
Hi everyone,

Been following this thread for a while, and this a trade that I just took. Wonder if this is the right trade according to 4H rule. I took it because price seems to develop double bottom with those 3 pin bars in m30. Hope that it will reach my TP.

EDIT: Out +29 pips
Attached Images
It looked like a good trade to me. I would have entered after the green candle. The green candle closed above the pin bars. Once it closes above I would enter on the following candle trying to get the best price. On CT trades take profit when you can. Nice job
Raymond

Quoting ganoderma
Hi everyone,

Been following this thread for a while, and this a trade that I just took. Wonder if this is the right trade according to 4H rule. I took it because price seems to develop double bottom with those 3 pin bars in m30. Hope that it will reach my TP.

EDIT: Out +29 pips
  • Post #24,560
  • Quote
  • Edited Sep 1, 2011 4:30am Aug 31, 2011 9:18pm | Edited Sep 1, 2011 4:30am
Quoting Morelands
It looked like a good trade to me. I would have entered after the green candle. The green candle closed above the pin bars. Once it closes above I would enter on the following candle trying to get the best price. On CT trades take profit when you can. Nice job
Raymond
Thanks for the advice, Raymond. It actually almost reached my TP by only 10 pips difference. I decided to close when I saw that price seems couldn't reached my target TP.
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