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4 Hour Strategy (MACD)

  • #25,441
  • Mar 15, 2013 5:00am Mar 15, 2013 5:00am
Quoting alf909
???
Excuse if I unclear write, I from Russia, use the translator,
This the portion on that trade.

Point A was the latest resistance level which was about 40 pips away from my entry. As it did not go down to the 1.29 level the possibility was allways there for a pullback during the night. I had to find a place to combat the pullback and that was at point A. But my initial stop was only 18pips so to be able to keep my risk at the sam $ amount I closed half of my position at BE and set my stop to 42pips away from entry leaving me with approx. the sam initial risk. It worked out over night.

Now I had to find a place for my TP as the 1.29 level might not be reached again. That is where line MUV comes into play so I set my TP close to that and it was reached at point C
  • #25,442
  • Mar 15, 2013 5:06am Mar 15, 2013 5:06am
I am back home on Sunday then I will make some videos of all the trades and post it.
  • #25,443
  • Mar 15, 2013 5:08am Mar 15, 2013 5:08am
thanks
  • #25,444
  • Edited 8:47am Mar 15, 2013 7:03am | Edited 8:47am
Quoting Phillip Nel
Hi. I see some nice trades that were made. Well done to you all.

I had internet lost so could only trade from my mobile(if there was signal). I am on holiday at a lodge so I was relaxing yesterday when the internet was down. I took a trade late yesterday. See the comments below. I missed the initial move up because of the internet problems but that is part of trading.

[list] [*][font=Times New Roman][size=3]Point A was the latest resistance level...
I like that way of thinking;"a place to combat the pullback"---I'll read you back during the weekend.
Nice play there!
Yvon
  • #25,445
  • Edited 9:14am Mar 15, 2013 7:08am | Edited 9:14am
130314EURUSD
again : crossing, pull back, move away... (89 purple/21blue/ 8 red)
secure already about 35 pips:
EDIT: secure about 43 pips
EDIT: DID the same mistake this morning having the SL too close to price action - got hit, gain closed 44 pips
so I got right back in! ride not done yet... :-)

EDIT: market seems knitting a possible pull back. Weekend right at the door-hum...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd-h1-easy-forex-130314eurusd-crossing-89-pull-back-move away.png Size: 62 KB
Click to Enlarge Name: eurusd-h1-easy-forex-130315eurusd-back-in-ride-not-done-yet-sl.png Size: 63 KB
Yvon
  • #25,446
  • Edited 8:13am Mar 15, 2013 7:21am | Edited 8:13am
130315USDCAD my last trade in Cad was with SL to close- ride down not quite done yet- I got back in (short)


EDIT: secure 17 pips. move my SL down
EDT: GOT HIT. trade closed but ride down not done yet...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad-h1-easy-forex-130315usdcad-sl-too-close-just-got-back-in.png Size: 41 KB
Click to Enlarge Name: usdcad-h1-easy-forex-130314usdcad-trade-closed-17-pips-ride.png Size: 64 KB
Yvon
  • #25,447
  • Mar 15, 2013 8:19am Mar 15, 2013 8:19am
I took the breakout on EurUsd and closed +33Pips
Attached Image (click to enlarge)
Click to Enlarge Name: A7.png Size: 171 KB
  • #25,448
  • Edited 11:19am Mar 15, 2013 11:02am | Edited 11:19am
Hey everyone,

trademin, thank you for the encouragement. I hope I am on the right track.

Philip, I am excited to hear from your upcoming video. The trades, which I believe without a doubt are good ones, would have scared me off. So I have yet to learn.

Here is another trade I did on the GBP/USD. I entered short, took half profit at around 23 pips with the rest getting hit at BE using 24 pip Trail Stop. (12 pip avg gain)
Once again, any comments or critique welcome.

Theresa
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp-usd_sellmarch15_largeview.gif Size: 46 KB
Click to Enlarge Name: gbp-usd_sellmarch15_trade.gif Size: 47 KB
Click to Enlarge Name: gbp-usd_sellmarch15_1hr.gif Size: 39 KB
  • #25,449
  • Edited 11:50am Mar 15, 2013 11:43am | Edited 11:50am
Quoting TheresaH
Hey everyone,

trademin, thank you for the encouragement. I hope I am on the right track.

Philip, I am excited to hear from your upcoming video. The trades, which I believe without a doubt are good ones, would have scared me off. So I have yet to learn.

Here is another trade I did on the GBP/USD. I entered short, took half profit at around 23 pips with the rest getting hit at BE using 24 pip Trail Stop. (12 pip avg gain)
Once again, any comments or critique welcome.

Theresa
There was no resistance at the point a retracement started so one has to look for something else as confirmation and there was MACD divergence on the 1H confirming a possible retracement. First target woulds have been 23%Fib and the next one 38%Fib. Because of Friday I would have closed all at first target or at worst case take 50% off at first target, go to BE and leave the rest to play itself out. Otherwise a good trade.

Edit
I was lying. There was very good resistance. So the trade was a valid one and could have been taken earlier on the 15min
Attached Image(s) (click to enlarge)
Click to Enlarge Name: A8.png Size: 33 KB
Click to Enlarge Name: A9.png Size: 49 KB
  • #25,450
  • Mar 15, 2013 12:01pm Mar 15, 2013 12:01pm
Thanks for the insight Phillip. It all makes good sense and you are helping me learn. However, I am wondering about your point of no resistance. Zooming out on the 4hr chart, I figured that was a resistance lvl supporting possible retracement. Am I incorrect for saying it is so?

Theresa

Edit
Just saw your statement of it actually being resistance. I still need to learn how to enter on 15min, but I will learn eventually. Cheers Phillip.


Quoting Phillip Nel
There was no resistance at the point a retracement started so one has to look for something else as confirmation and there was MACD divergence on the 1H confirming a possible retracement. First target woulds have been 23%Fib and the next one 38%Fib. Because of Friday I would have closed all at first target or at worst case take 50% off at first target, go to BE and leave the rest to play itself out. Otherwise a good trade.

Edit
I was lying. There was very good resistance. So the trade was a valid one and could have been taken earlier on the...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-usd_sellmarch15_resistance.gif Size: 36 KB
  • #25,451
  • Mar 15, 2013 12:14pm Mar 15, 2013 12:14pm
Quoting TheresaH
Thanks for the insight Phillip. It all makes good sense and you are helping me learn. However, I am wondering about your point of no resistance. Zooming out on the 4hr chart, I figured that was a resistance lvl supporting possible retracement. Am I incorrect for saying it is so?

Theresa

Edit
Just saw your statement of it actually being resistance. I still need to learn how to enter on 15min, but I will learn eventually. Cheers Phillip.
When there is resistance that carry some weight(and this one did) it is within the market Rhythm that it might halt there and retrace from there. Therefore you can actually enter before the time close to the resistance area and with a small stoploss you can have your R:R at 1:2 or even 1:3 which means you can actually be wrong 6 times and right 4 times and still make money on a 1:2 R:R. Hope this make sense.
  • #25,452
  • Mar 15, 2013 11:21pm Mar 15, 2013 11:21pm
Good Day ALL

Thanks for sharing such good news


I need some help from anyone here, to improve the MACD further.

Attached please find my MACD file and GPBUSD CHart - 4 hour


Kindly assist to edit the MACD file with following rules. either with a POP UP or Alert Message



***** MACD versus Price Action Candlestick - when MACD turns BuLLISH above the ZERO line.


As per attached Chart, you will find "2 mountains" above the zero line of MACD on the right side of Chart
ALso pay attention to the Price Action Candlestick.


#### 1st RULE

on the 1st mountain on the MACD, you will find the 1st candlestick closed @ 1.5156
on the 2nd mountain on the MACD, you will find the 2nd candlestick closed @ 1.5132

As the 2nd MACD moves higher than the 1st MACD, the 2nd candlestick closes lower than the 1st candlestick



I want anyone to edit and reprogram this MACD file with a POP UP or Alert Message each time the above 1st Rule occurs




***** MACD versus Price Action Candlestick - when MACD turns BEARISH below the ZERO line.


Next the second condition will be the opposite direction. I do not have the Chart for you. Pls bear with me.

#### 2nd RULE


on the 1st mountain on the MACD, you will find the 1st candlestick closed @ 1.5020
on the 2nd mountain on the MACD, you will find the 2nd candlestick closed @ 1.4910

As the 2nd MACD moves higher than the 1st MACD, the 2nd candlestick closes lower than the 1st candlestick



I want anyone to edit and reprogram this MACD file with a POP UP or Alert Message each time the above 2nd Rule occurs



Believe the above will be useful for Traders using MACD.

Kindly assist, awaiting your replies
Attached Image (click to enlarge)
Click to Enlarge Name: high-higher-macd_price-action_closes_lower-than_high-macd.gif Size: 34 KB
Attached File(s)
File Type: ex4 MACD_Colored_v103.ex4   18 KB | 397 downloads
File Type: mq4 MACD_Colored_v103.mq4   13 KB | 471 downloads
  • #25,453
  • Mar 17, 2013 9:30am Mar 17, 2013 9:30am
Can someone pls post the usage of macd colored v104? I want to understand how it works.
  • #25,454
  • Mar 18, 2013 7:31am Mar 18, 2013 7:31am
Can some one PLEASE post more info on market rhythm? I don't get the picture of what it is. Thanks.
  • #25,455
  • Mar 18, 2013 3:53pm Mar 18, 2013 3:53pm
Here is the videos of the trades as promised.
Phillip
Attached File(s)
File Type: zip Trades.zip   6.7 MB | 988 downloads
  • #25,456
  • Mar 18, 2013 4:28pm Mar 18, 2013 4:28pm
Phillip,

I just want to give a heartfelt thank you for your sharing through the years. I read the entire thread back in 2008. It's thanks to your guidance and sharing that I was able to develop (after many many hours of screen time) a nice sense for a market's rhythm, flow, emotion, as well as how to use those tools within context of the structure. I trade totally intraday, but the principles still apply.

Thank you again.
  • #25,457
  • Edited Mar 20, 2013 1:01pm Mar 19, 2013 8:21pm | Edited Mar 20, 2013 1:01pm
Thanks Phillip for the videos as well as the comment on the 15min. And yes, I understand what you mean by your r:r`s.

Hope everyone else had some success with their trades. Here is my trade on the USD/CHF. Waiting for the results. Any questions, comments, critiques welcome as always for the benefit of me and everybody else.

Theresa

Edit

Based on hindsight, as well as further analysis, waiting for pullback probably would`ve been the better choice as ybeidas noted. Also, neglected the importance of the resistance lvl under 0.9500 Waiting to see if the support level will hold.

Edit

Got stopped out. Oh well, live and learn
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf_march19_weekly.gif Size: 34 KB
Click to Enlarge Name: usdchf_March19_4hrtl.gif Size: 41 KB
Click to Enlarge Name: usdchf_march19_4hr.gif Size: 49 KB
  • #25,458
  • Mar 20, 2013 2:02am Mar 20, 2013 2:02am
Quoting TheresaH
Thanks Phillip for the videos as well as the comment on the 15min. And yes, I understand what you mean by your r:r`s.

Hope everyone else had some success with their trades. Here is my trade on the USD/CHF. Waiting for the results. Any questions, comments, critiques welcome as always for the benefit of me and everybody else.

Theresa
Hi Theresa,

I would have entered the bar before, it had the tail to the 89 and closed above the 21.

But check this, because of different broker times, on my chart, the candle with the arrows is the equivalent of your candles. It was a big candle, would you have entered at the close of that big candle? Not sure if i would have. Probably would have waited for a retrace on lower time frames.


Would love to read Phillips take on this. Great video by the way. Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf03204hr.gif Size: 31 KB
  • #25,459
  • Edited 11:45pm Mar 20, 2013 3:07am | Edited 11:45pm
Hello ybeidas,

Thanks for the input. After the pinbar, I wanted to see a confirmation on the MACD. I would have entered early on the 1hr graph, and thus would not have been to high up. However, I was not around to watch it, so I settled on completion of the 4hr candlestick.

As with your graph, (as well as mine), I think you`re right in waiting for a retracement after such a large candle. But, at the time, I assessed my r:r was a little under 1:0.9, following the uptrend, so I thought it was ok.
Also, (this may be incorrect for assuming so), that with the Bailout, the CHF may be under a descent amount of pressure to depreciate along with the Euro. This was my opinion, so I felt buying after a large candle was ok.

Though, reassessing, if I had seen your graph rather than mine, I might of waited for the retracement.

Any more comments from you, or anybody else, are welcome.

Thanks again, it was a good insight.

Theresa

Edit.

Looks like you were right ybeidas. Looking back, I rushed and got too excited. Plus talk of the Bailout bamboozled me and clouded my judgement.

Quoting ybeidas
Hi Theresa,

I would have entered the bar before, it had the tail to the 89 and closed above the 21.

But check this, because of different broker times, on my chart, the candle with the arrows is the equivalent of your candles. It was a big candle, would you have entered at the close of that big candle? Not sure if i would have. Probably would have waited for a retrace on lower time frames.


Would love to read Phillips take on this. Great video by the way. Thanks.
  • #25,460
  • Mar 24, 2013 4:56pm Mar 24, 2013 4:56pm
Can anyone please tell me what the number running along side the last MACD histogram bar on MACD colored v102 and 103 is for? I've been trying to figure it out and have not had success finding it within the thread. Thank you.
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