4 Hour Strategy (MACD)

Nice trading folks

8-9 April Aftermath

nice video and well explain

Thank You very much for video, it help us a lot to understand better what is going on. I appreciate it much.

Hello Amcee,
This is only my 2cents worth but hope this might help. You were looking for price to head back down towards the 21 & 200. This could well have happened and you were obviously primed & ready to play if your signal told you to go. The way I was looking at this was that we were in a pretty good uptrend and yes it is ok per Phillip's rules to take a Counter-Trend where the 21 is the target. But for me , the huge Bullish candles far out-weighed the smaller Red ones . It tells me that there are still plenty of Buyers around who may want to have a crack to go higher. PA was well on its way to possibly test the previous month High and the only likely Resistance was the 365ma and the BRN 1.3100.
After watching Phillip's morning video today, I have drawn in some tentative T/Lines as he suggested and will watch PA closer to London Open to see if Price wants to push on or whether those Ma's will help spring Price back down. Either option is fine by me - so long as I have my Plan A & Plan B all mapped out when something happens.

Quoting LinhPip :
Thank you for your comment. I'm in Vietnam, GMT+7, so I usually take tracking forex from the middle of Tokyo market to the end of London market. Today I think EU is very dangerous for me, up, down, up, down...

Hi Lin,
I think once you find a market that suits your personality, applying all of the teachings given to us will help you to overcome the nervousness you are feeling on the EurUsd - all markets go up & down and that is what gives us the opportunity to get in & out of the trade. What we are trying to recognise here is the Rythym of the Currency - that is saying price respects certain Ma's & levels and will always track back to these. We will learn by watching & back-testing & Sim Trading what our chosen market will do when it gets to certain points on our Charts. I have chosen to stick to the Euro not only as it suits my Time Zone but because it aligns with Phillip's teachings. I get to see what he actually sees and Trades.
Stick with it my friend - ask all the questions you like . I'm sure someone here will help out if we can - but you MUST do the lessons & reading as prescribed on Page 1 as this is the heart & soul of our method. Good luck

I LOVE the excellent posts and educative info you all are releasing here. It is nice to see everyone sharing their unique way of trading this system.

I am reading almost all your posts from the corner and chewing your excellent charts. We are all students here, and the more you teach, the more you learn.

My comment:

When you begin to make decisions by yourself in life and the action you take based on the decisions you have made is able to fetch you success or pips it means you has obtained the spirit of discernment. You have got the right insight of righteous judgement. At that stage in life, you can excel in whatever field you plunge into.

An independent economy hardly fails. We are all on the path already. My God grant us the grace to get to the peak of our noble careers in life in Jesus name!

Thank you everyone!!!

Good Evening /Morning everyone. Price action on The Euro looked promising a couple of hours ago but seems to be just chugging along without too much conviction yet. I am neutral either way so will be nice & patient and wait for Price to show me where I am going.
I will use this quiet spell to have another look at Phillip's H4 - 1Min strategy. That looks real cool
Does anyone else see something we can share or chat about ??

Hi there Nausting - great you are still supporting us. I know there are not that many of us here lately but thanks for continuing to show an interest in our progress. I do really wish I had been part of Phillip's thread back in the glory days but I am grateful that he & you are still there for us to annoy with our comments & questions (lol )
If you get a spare minute, can you look at my post from a couple of days ago( # 25554 ) - it asks whether it is ok to re-enter the market upon completion of a trade where there is another good signal back in the direction we have just come from. Hope this makes sense.
BTW - you are so right with your comment that Teaching or explaining ones thoughts & methods can actually help in ones learning process. I just hope my charts & comments make sense to everyone.
Happy Pipping buddy.
Brian

Hi, that's my trade towards MA 8 H4. Having in mind H1 PA, I took trade few hours later base on H1 rejection of 1.3100 level SL just above (15 pips) using M1 chart and TL there. Despite the fact of TP is my way of thinking about trade towards MA from H4 is similar to yours? The risk was there with 1H TL but as I was monitoring how the price behave there (just slight bounce end went thru just in case I had already my trade in BE in case of sudden bounce from this LT).

Hi, that's my trade towards MA 8 H4. Having in mind H1 PA, ........
Greetings Amcee,
Looks like you have enjoyed a successful trade - well done. My charts are a bit different from yours as I use Pepperstone as my provider. However, there is no right or wrong way to trade this one. You have analysed the H4 & decided that the PinBar Reversal at the BRN 1.3100 Resistance was a very good reason to consider entering a position. The H1 has provided your breakout signal to enter short and you have targeted the 8ma of the H4 chart as your profit area. You were right there to monitor the trade and had a management plan in place. Everything went well for you and you had moved to B/Even early enough to make your play pretty safe.

My take on this differs from yours - my H4 did not show a Pin Reversal . It was more of an indecision Doji type with the close being in the top half of my candle. That being the case, I was never looking for a trade off that point. Having said that , if a PA Reversal Candle similar to your one had shown itself at that time, I would move to the H1 to check out if a signal was forming . The trend recently has been up so the only reason I would enter the market short ( CT )would be to grab some pips on the way back down to the 21 but only on the H1 chart. If I am to enter on H1, I prefer to use the H1 PA to determine targets & exits. In my chart, assuming th same Breakout entry as yours, the reward available down to the 21 was only about 10pips but my stop back above previous candle was about 16. This would have confirmed a No-Trade for me.
It is most necessary that H4 S & R levels etc are identified on the time frame I choose to enter a trade on, but only to give me an overall view of where I am in the market at any one time. I will still use the H1 targets in preference to the longer time- frame ones .

One thing I think we can safely say is that no 2 traders will be guaranteed to see exactly the same thing on a chart. If you have a plan that you have made your own and it has proven to be profitable more often than not - then you have found your EDGE on the market. Write your method & particularly the system RULES you will follow so that when you see A - you execute B .....etc etc

This thread and 1 other that I follow seriously have shown me that Price Action around strong levels is the only way to trade IMHO
Now after 3 weeks or so , I am starting to develop my own take on all the info that Phillip has given me starting from page 1. I am now close to writing my own set of rules that I want to become 2nd nature for me.





Lets compare notes again tonight - I see that USA Jobless Claims is in around 11 hours so I wonder if market may be a bit slow until the release.
Cheers all

Hi, thank You very much for your comments. My broker using GMT so unfortunately we see a bit different picture. Is there any preferable broker time for this method which would work best?
I have question: how you deal with that: having LT on H4 looks like price didn't touch it but if you change your TF for lower H1 it shows that did it perfectly? I would considering lower TF as more precise this time, but some other time it can happen that it will touch oh H4 but on H1 was taken? What is more important for U waiting until it will touch it on H4TF or take as a fact that did it already base upon H1?

Looks like price didn't come back to touch MA21 H4 yet and TC signal MACD is already there how is on your charts? U go for it already as a rejection of MA21H4 and L ? last two candles engulfed bottom of the retrecement
thx

[quote=Amcee;6594269]Hi, thank You very much for your comments. My broker using GMT so unfortunately we see a bit different picture. Is there any preferable broker time for this method which would work best? I have question: .....

Hi Amcee,
I use Pepperstone for my charting and they are GMT +3. They provide New York Close data which means they only show 5 daily bars per week . The Sunday bar has been dropped. It is suggested that the unofficial closing time for Forex is 5pm Friday New York. This is now what I am accustomed to even though there is obvious variation in our charts & it can be difficult & a bit confusing trying to compare data.
I see what you say about Price hitting the lower T/L on the H1 chart but no-where near the same T/Line on the H4. I have no answer for that - my chart shows Price has not yet got to the T/Line or the 21ma on the H4.
As soon as I was sure that Price was struggling to get down to the 21 and T/Line Support on the H4, I was happy to look for a break in either or both the 365 & 8 ma's. This was an indication to me that we could resume the run up to the 1.3100 as 1st stop and a strong possibility that the March High might get re-tested. I could have ridden this out all the way to the March High but my plan of attack was to take what was offered to me at the 1.3100.

Charts are attached - the H4 is getting a bit crowded with lines so can be a bit hard to read - hope you can see what I was looking at.




Hope this helps .

Thank you very much for your detail explanation it helps a lot !

11April2013

Thank you for the video.

Cheers Phillip - appreciate the Video & all the time you are giving to the members here. I know it is only just market open in NZ with Aust & Asia following shortly and not the best time to consider a play on our Euro but thought you guys might be interested in seeing today's H1 as it is unfolding. I know myself that viewing a chart after a session has closed can be a bit hard to analyse. As I prepare this one, I am planning my day on being favourable to Longs again - my reasons here are :
Bounce away from 21 again
There is convergence of the 21 / BRN 1.3100 / Fib 38 /and bounce off newest T/L (support )
If the Macd was to turn & give me a TC at the close of this current candle, i would be interested in a wee long back to the March High again which seems to be holding well as resistance. There is only about 25 pips available but the Stop below the convergence area is only around 14 -14 pips so may be worth a look in 15mins when candle closes.
Does anyone else agree or disagree



PS: I have placed arrows here also just to show how powerful the 21 is at the moment. I realise these would not all be trades but a few of these would have given healthy pips. This is purely for interest only as we all know things can change in short moment
Enjoy..

12 April2013

Hi
Here is another video in our series which I want to call Forex Trader from Zero to Plus.

It is called the backbone

Thank you very much for great video as well as all your experience sharing with us.
Might the good luck be always with you!

have a nice weekend

Hello Phillip ,

Many thanks for the last video !
The wrong idea of making as many pips of possible as advertised by lots of people and commercials clearly explained in this last video and propose a totally different approach to the business .
Would you be so kind to let us have the excel sheet of the 50 pips / month calculations with the formulas , factors and variables available ?
Thanks in advance ,

Have a nice week end


PS i have kept all the videos of the 5mn off the zone and keep watching them , great strategy !