Hi MKFX -
Hope this helps
Have a happy day
Hope this helps
Have a happy day
4 Hour Strategy (MACD)
- #25,462
- Mar 25, 2013 5:33pm Mar 25, 2013 5:33pm
Greetings Phillip & all followers. Stumbled onto this thread 2 days ago following a link from another very well known Thread here on FF.
I have been reading & digesting all things Simple Price Action lately and I am starting to connect some of the dots (LOL). Having spent a couple of days reviewing the basic Page 1 rules and reading as much of your teachings as I could take on board without blowing a foo - foo valve
, I find an easy attraction to your way of doing things. With your help ( and other members of course ) I hope to make a bit more sense of this strategy and get to a point where success will follow a bit of hard work & dedication .
I look forward to sharing & caring with you all.
Brian
I have been reading & digesting all things Simple Price Action lately and I am starting to connect some of the dots (LOL). Having spent a couple of days reviewing the basic Page 1 rules and reading as much of your teachings as I could take on board without blowing a foo - foo valve
, I find an easy attraction to your way of doing things. With your help ( and other members of course ) I hope to make a bit more sense of this strategy and get to a point where success will follow a bit of hard work & dedication .I look forward to sharing & caring with you all.
Brian
- #25,463
- Mar 25, 2013 5:57pm Mar 25, 2013 5:57pm
I am posting my 1st trade taken last night ( NZ Time ). It was the Euro and while it was against the trend, I was confident for a few reasons. Can you comment on my setup , reasons to enter and end result please. I realise that my trade plan did not allow for exactly 1:1R but it was close enough for me.
Trade Analysis :
PA Mood Bullish ( 89 MA ) but - my Plan allows a counter trend trade from strong zones back to the 21.
Price was rejected 3 times at dropping T/Line and this was also a recent strong area of S & R
Signal Bar closed below VBRN 1.3000
The 8 ma had been stretching away from the 21 indicating that a spring back may not be far away
The target at the 21 was still inside the lower T/Line so would not be fighting that as support.
Macd had turned over.
Entry 1.2998 S/Loss 1.3052 ( 54 pips) T/P 1.2960 at 21ma ( 38 pips)
My RR will get more acceptable with practice but I look forward to any comments you might have about this one.
Cheers
Brian
Trade Analysis :
PA Mood Bullish ( 89 MA ) but - my Plan allows a counter trend trade from strong zones back to the 21.
Price was rejected 3 times at dropping T/Line and this was also a recent strong area of S & R
Signal Bar closed below VBRN 1.3000
The 8 ma had been stretching away from the 21 indicating that a spring back may not be far away
The target at the 21 was still inside the lower T/Line so would not be fighting that as support.
Macd had turned over.
Entry 1.2998 S/Loss 1.3052 ( 54 pips) T/P 1.2960 at 21ma ( 38 pips)
My RR will get more acceptable with practice but I look forward to any comments you might have about this one.
Cheers
Brian
- #25,464
- Mar 25, 2013 6:20pm Mar 25, 2013 6:20pm
My 1st Failure also -
Mood (89ma) Bullish
Price had broken down through the 21 but would not seek out the 89. It formed the new support of upward T/L & after testing the 21 a cople of times, managed to close back above it 3 more times including my signal bar ( PinBar which was also an IB ).
I had a good entry with a stop of around 30 with a possible TP of 50 at the top T/Line.
Price got to +27 before starting its surge back to the 89. As this was happening while I was asleep , I had no possibility of moving to B/E or even reducing my risk by taking some off the table.
I did notice after the fact that the Macd was real close to Zero Line but had not actually passed through. I now recall Phillip's warnings about not getting too confident when this happens.
What do you reckon guys?
I am happy with my reasons to enter and I was in sync with trend - perhaps the rule of the 89 was stronger in this case 9 (LoL)
Mood (89ma) Bullish
Price had broken down through the 21 but would not seek out the 89. It formed the new support of upward T/L & after testing the 21 a cople of times, managed to close back above it 3 more times including my signal bar ( PinBar which was also an IB ).
I had a good entry with a stop of around 30 with a possible TP of 50 at the top T/Line.
Price got to +27 before starting its surge back to the 89. As this was happening while I was asleep , I had no possibility of moving to B/E or even reducing my risk by taking some off the table.
I did notice after the fact that the Macd was real close to Zero Line but had not actually passed through. I now recall Phillip's warnings about not getting too confident when this happens.
What do you reckon guys?
I am happy with my reasons to enter and I was in sync with trend - perhaps the rule of the 89 was stronger in this case 9 (LoL)
- #25,465
- Mar 25, 2013 6:27pm Mar 25, 2013 6:27pm
My UC success also -
Mood Short (89ma)
Price made effort to get back up to the 21 but failed suggesting downtrend in place.
Signal to go short came from the Continuation on the Macd.
Enough room to run to grab a handful before meeting the Bottom T/L support.
Mood Short (89ma)
Price made effort to get back up to the 21 but failed suggesting downtrend in place.
Signal to go short came from the Continuation on the Macd.
Enough room to run to grab a handful before meeting the Bottom T/L support.
- #25,466
- Mar 25, 2013 6:42pm Mar 25, 2013 6:42pm
and Final trade from yesterday -
Counter-trend ( my plan allows when looking to return to the 21 ma.)
Price turned back from resistance at the 200.
Could not breach it in next bar either and closed lower which became my entry point.
Supporting actions included the 8 getting stretched away from the 21 indicating a possible need to re-coil back and also the Macd in a reasonable roundish formation heading down.
Hope I am reading things right -
Thanks for feedback ( good or bad)
Counter-trend ( my plan allows when looking to return to the 21 ma.)
Price turned back from resistance at the 200.
Could not breach it in next bar either and closed lower which became my entry point.
Supporting actions included the 8 getting stretched away from the 21 indicating a possible need to re-coil back and also the Macd in a reasonable roundish formation heading down.
Hope I am reading things right -
Thanks for feedback ( good or bad)
- #25,468
- Mar 26, 2013 5:58am Mar 26, 2013 5:58am
- | Joined Jan 2013 | Status: Live the dream.... | 1,153 Posts
Hi MKFX -
Hope this helps
Have a happy day
- #25,469
- Mar 26, 2013 4:57pm Mar 26, 2013 4:57pm
Good Morning /Evening to any members still following .
Just wanted to share my take on one of Phil's set-ups . I hope I am getting this right so any feedback will be really welcome & helpful
The H4 on the NZDUSD shows a breakout from a recent channel. Phil likes to let the upper channel limit ( Resistance ) now turn to Support and have Price re-test this . Price Action will often provide an opportunity to enter but what I am learning from this set up is that I should have gone to a lower T/Frame to look for an entry. I have posted the H1 & 30min to show the 2 possible trades I could have taken.
The 30min is giving a small PBar to use an entry but this is pretty aggressive. Personally, I prefer the H1 entry which is on the break of the recent short term Resistance. Not as many pips at this point in time but has the added confirmation of the Macd TC signal.
If I was still looking at the H4 only for a trigger , I would still be waiting for an entry to confirm.
I guess this confirms the power of the smaller T/F for entries. Thanks for this Phillip - eye opening to a new student like me
Just wanted to share my take on one of Phil's set-ups . I hope I am getting this right so any feedback will be really welcome & helpful
The H4 on the NZDUSD shows a breakout from a recent channel. Phil likes to let the upper channel limit ( Resistance ) now turn to Support and have Price re-test this . Price Action will often provide an opportunity to enter but what I am learning from this set up is that I should have gone to a lower T/Frame to look for an entry. I have posted the H1 & 30min to show the 2 possible trades I could have taken.
The 30min is giving a small PBar to use an entry but this is pretty aggressive. Personally, I prefer the H1 entry which is on the break of the recent short term Resistance. Not as many pips at this point in time but has the added confirmation of the Macd TC signal.
If I was still looking at the H4 only for a trigger , I would still be waiting for an entry to confirm.
I guess this confirms the power of the smaller T/F for entries. Thanks for this Phillip - eye opening to a new student like me
- #25,470
- Mar 27, 2013 2:58am Mar 27, 2013 2:58am
I am posting my 1st trade taken last night ( NZ Time ). It was the Euro and while it was against the trend, I was confident for a few reasons. Can you comment on my setup , reasons to enter and end result please. I realise that my trade plan did not allow for exactly 1:1R but it was close enough for me.
Attachment
Trade Analysis :
PA Mood Bullish ( 89 MA ) but - my Plan allows a counter trend trade from strong zones back to the 21.
Price was rejected 3 times at dropping T/Line and this was also a recent strong area of S...
I took the trade as well. The entry point was also confluence of 21EMA on Daily.
Candle patterns on your chart look different to mine, probably because of different broker and server time.
I think it was a good trade.
Chublet
- #25,473
- Mar 28, 2013 3:03pm Mar 28, 2013 3:03pm
Good Morning NaustingFX,
Great post thank you.
As I have only just started this thread from the other end ( Page1) I am yet to meet you but will say I am looking forward to visiting all of your posts on this thread of Phillips.
I would love to start reading your contributions today but being Easter, my thoughts are elsewhere
Time to have fun with my family.
Hope you & all other members have a great Easter Break.
See you Tuesday.
Brian.
Great post thank you.
As I have only just started this thread from the other end ( Page1) I am yet to meet you but will say I am looking forward to visiting all of your posts on this thread of Phillips.
I would love to start reading your contributions today but being Easter, my thoughts are elsewhere
Time to have fun with my family.
Hope you & all other members have a great Easter Break.
See you Tuesday.
Brian.
Good Morning NaustingFX,
Great post thank you.
As I have only just started this thread from the other end ( Page1) I am yet to meet you but will say I am looking forward to visiting all of your posts on this thread of Phillips.
I would love to start reading your contributions today but being Easter, my thoughts are elsewhere
Time to have fun with my family.
Hope you & all other members have a great Easter Break.
See you Tuesday.
Brian.
I wish you a spirit filled Easter celebration. May God keep you and family from every evil and establish you to maximum success in this trading strategy. Greet the kid and wife. Give my love to everyone. Thanks be to GOD who has given us the victory through Jesus Christ.
Gloria in Excelsis Deo!
- #25,477
- Mar 29, 2013 11:18pm Mar 29, 2013 11:18pm
- | Joined Nov 2012 | Status: Trader | 1,397 Posts
I just found this trading system through youtube, came here and I had to stop reading because I don't know what I'm reading at the of each article! Not because is badly written but because I don't think that is still a clear way of explaining how to trade this system and I'm not saying that it doesn't work either...
...
I used to trade this system for nearly a year with pretty decent results, I could've gone better had I stayed using it. due to several reasons, I stopped.
the most important thing, however, is to have your broker server on the same timezone as mr. Nel's. I wouldn't know if there's a plugin for that. but, imho, that one is a must.
anyway, TC and CT are relative to the trend. which is mostly determined by the angle of the 89sma. as an example, the post above, is a trade on CT signal on eu. the macd itself, if you put 5ema and 13ema on H4, you'll see how close it resembles the (5,13,1) macd indi. the 13ema is the zero horizontal line on macd.
mr. Nel's attachments on the first post could help you understand better before digging any further.
shoot me a pm, and i'll try to answer. the 8 and 21ema's can be a pretty good entry signals w/o waiting for confirmations from the macd, and I don't mean crossovers between the two ema's. just trying to help