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4 Hour Strategy (MACD)

  • #25,841
  • Jun 7, 2013 2:51am Jun 7, 2013 2:51am
Quoting eker18
Hi everyone i'm new at the forum, my name is Ezequiel and im from Argentina, i've tested the system with the forex tester and im traiding with it, i would show my analysis . Today we have a TC on eurusd, put a buy limit at 1.3120, tp at .3160 , 3200 and 3250 . SL 44 pips, below the up trendline in green . All three TP were activated, totally 72 pips with a lot of usd 4500 . Really good trade, i was worried because of the news of the day, Draghi is the market, but when i tested it, the macd seems to anticipate what draghi is going to say, any opinions...
Warm Welcome Eze and well done.
Can you do us a favour and insert a coloured vertical line on your entry candle. It helps identify what you are looking at when our charts differ slightly. I am trying to compare your entry candle with mine and calculate whether an entry was there for me. Cheers
  • #25,842
  • Jun 8, 2013 8:19pm Jun 8, 2013 8:19pm
Quoting binnie
{quote} Glad I may have been some help. No - I ain't a Psychologist but my kids call me Psyco sometimes This is purely from the same experiences we have just talked about. I KNOW what you are feeling - you ain't alone. My Aussie watch for the next candle close: {image}

hi binnie,

when you have time tell me what your abreviations means,
(BRN)
thank you
Yvon
  • #25,843
  • Jun 9, 2013 11:52am Jun 9, 2013 11:52am
Quoting binnie
{quote} Yvon - the H1 for this pair has now seen the macd cross under Zero Line. Even though the H4 continues to show a RT possible move back to the 21. Can this still qualify as a valid signal to go long if the MACD turns back up through the zero again? or is the H4 now the only chart we can look to for a TC ( assuming price does get back down to its 21 that is ) {image}
hi, a bit late, but there is my view,
the 1 hr chart is for fine tuning an entry that in coming on the 4hrs chart. the macd (1 hr)is at neutral(zero or so, on your chart above) but look back at the 4hrs macd, still looking down, still an RT.- - does the chart shows otherwise?-no. if not then price will continue on his path…it will still go down.




I was expecting a pull back too as I have mentioned earlier. Hey! I have waited too! even too much!- so there was no TC there.- my reference for a possible TC was on the 1 hr chart…expecting that a candle would do me a favour by crossing the down trend line (just like you drawn on your chart (post25795) or on the one I have drawn on post no.25793, or here, the oblique one…It never came!---by crossing the trend line on the 1 hr chart, I would have certainly look back at the 4hr macd and see what how it look like, but a break on the 1 hr chart would certainly shows that a change in trend is on his way.---


I took me some time to change my mind about an eventual TC-


--- I can retain 3 words from that experience: What If Not? ---in brief: it should have bounced. But what if it doesn't do that? That answer is covered in the rules!- but I was kind of being brain "frozen" . Expecting MY thoughts to realize, but not expecting the rules: the market did what it wanted to do!- my discomfort didn't disturb the market at all!---





Phillip Nell mentioned somewhere, something like this: "…trader tends to bend the rules and make their own...this is exactly what I did. Since I wasn't in the RT trade, I should have taken the move away down from the 21ema when price went back inside the consolidation (B), that's all!---sticking to the rules, I would have had better result,

Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd-h1-ava-financial-ltd-a-tc.png Size: 48 KB
Click to Enlarge Name: audusd-h4-ava-financial-ltd-rt.png Size: 51 KB
Yvon
  • #25,844
  • Jun 9, 2013 10:53pm Jun 9, 2013 10:53pm
Quoting binnie
{quote} Warm Welcome Eze and well done. Can you do us a favour and insert a coloured vertical line on your entry candle. It helps identify what you are looking at when our charts differ slightly. I am trying to compare your entry candle with mine and calculate whether an entry was there for me. Cheers
Hi Binnie, yes, sorry about that, attached is the image, the red vertical line shows the entry , entry at 1.3120, the price then goes back and touch 1.31, it would be better if i put the order there, but i did not want to miss that trade . i had the same trouble as you happyme, 1.3100 was an important resistance level, i deal with that by waiting . When the price broke that level and the 4hour candle close beyond 1.31, that was the signal, also we have a TC .


Now i want to go long with usdjpy, we are at the bottom of a good channel, below is the picture, in the 4hour we have a RB, now wait int order to catch a better price .

I have a theory, when we are going to have an important notice, such as NFP , interest decision or Draghi talking, the macd usually, in the preview hours shows a signal, and most of the time its a good one, anybody else see this ? The problem is that sometimes, the prices has a lot volatility and the SL runs, that really really sucks, what i do is to put an extra order in an important level but far away for the price . For example, last week, before Draghi talks, we have a TC , so i buy an 1.3120, and i put a buy limit at 1.3130, so if thing goes wrong, i wont be out of the market . Anybody else got the same perception ? Godo trading !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd-h4-forextime-ltd-eur-usd-4-hour-con-entrada-roja.png Size: 61 KB
Click to Enlarge Name: usdjpy-h4-forextime-ltd-usd-jpy-4hour.png Size: 51 KB
Click to Enlarge Name: usdjpy-d1-forextime-ltd-usd-jpy.png Size: 37 KB
  • #25,845
  • Edited 11:27am Jun 10, 2013 11:00am | Edited 11:27am
Well....there is a new one at EURUSD.....

Hope it's working out....

EDIT: trade reached 32 pips => SL moved to BE (break-even)
Attached Image
You can manage risk, but you can't manage the return
  • #25,846
  • Jun 10, 2013 11:09am Jun 10, 2013 11:09am
Yvon,

Is this what you ment with fine-tuning at H1?

This was 15pips or so...

Well I didn't take the trade with the fine-tuning...but I was curious if I can do it the right way...
And maybe the whole trade isn't working.....only time will learn I guess
Attached Image
You can manage risk, but you can't manage the return
  • #25,847
  • Jun 10, 2013 11:19am Jun 10, 2013 11:19am
Hi Happyme, im also long at eur/usd, also I put some buy limit at 1.3220, hope the price goes back and test that hehe . I have a question, your charts shoes market hours, frankfurt, london, etc. is that a custom indicator ? How can i get that, it seems to be really usefull, thank you !
  • #25,848
  • Jun 10, 2013 11:47am Jun 10, 2013 11:47am
Quoting eker18
Hi Happyme, im also long at eur/usd, also I put some buy limit at 1.3220, hope the price goes back and test that hehe . I have a question, your charts shoes market hours, frankfurt, london, etc. is that a custom indicator ? How can i get that, it seems to be really usefull, thank you !
Well I don't hope...so...if price goes back into the channel and then to 1.3220... I'm out with BE


You will find the clock in this thread at post 24.961 (give it a short search)
You can manage risk, but you can't manage the return
  • #25,849
  • Edited 2:48pm Jun 10, 2013 1:23pm | Edited 2:48pm
Quoting HappyMe
Yvon, Is this what you ment with fine-tuning at H1? This was 15pips or so... Well I didn't take the trade with the fine-tuning...but I was curious if I can do it the right way... And maybe the whole trade isn't working.....only time will learn I guess {image}

Hi,

I guess you got the idea.- on the one hr chart you should see the candles that make the 4 hrs candles and there is a direction opposed to what you want to do. Sometime it is a consolidation, sometime it is a channel going against the direction that you want to go. Now, that beeing said. if price still going the opposite, then don't get involve in the direction you saw the opportunity. It is when the price now suddenly going you way, you will feel happy, don't get involved yet! -make sure that price has broken the tendency to go against you, then ,shows the break, it should be going in the disired direction.---that's a confirmation, I guess that you took the right decision.- the best confirmation would be that the One Hr Macd just made a beautifull TC (Tadam!)---the example I give here doesn't show a TC but still nice. (a is the 4hrs entry)---and Yes that about 15 pips!


I just wanted to show an entry that could be made on the 1hr chart, there it is: look at the yellow doted line(vert.)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fine tuning -pull back.png Size: 231 KB
Click to Enlarge Name: eurusd-h1-ava-financial-ltd-ex3-fine-tuning.png Size: 56 KB
Click to Enlarge Name: eurusd-h4-ava-financial-ltd-ex2-fine-tuning.png Size: 61 KB
Yvon
  • #25,850
  • Jun 10, 2013 2:14pm Jun 10, 2013 2:14pm
Quoting trademin
{quote} Hi, I guess you got the idea.- on the one hr chart you should see the candles that make the 4 hrs candles and there is a direction opposed to what you want to do. Sometime it is a consolidation, sometime it is a channel going against the direction that you want to go. Now, that beeing said. if price still going the opposite, then don't get involve in the direction you saw the opportunity. It is when the price now suddenly going you way, you will feel happy, don't get involved yet! -make sure that price has broken the tendency to go against...

Thank You!!
I believe I'm making progress....

Now I need a little more confidence....also with this trade I'm thinking: "Ohh gosh....price is pulling back...will I stop the trade with some small profit" But no this time I don't.... I made my plane, I having a free ride now (also a part of the plan) ....and that's it.... just waiting now

You can manage risk, but you can't manage the return
  • #25,851
  • Jun 10, 2013 8:40pm Jun 10, 2013 8:40pm
Quoting trademin
{quote} hi binnie, when you have time tell me what your abreviations means, (BRN) thank you
Hi Yvon,
I am away from home until tomorrow visiting my dad so unable to spend any worth-while time on the charts..I see a few posts coming in which is great. Looking forward to joining back in after tomorrow.

BRN = Big Round Numbers . I was introduced to the significance of the larger numbers by another bloke who provides a lot of free tuition around Price Action trading on another website.
The concept is based on historical reaction of Price at or around the larger levels in each currency pair.
EG: I will be aware of a possible reaction on the Aussie /USD at 0.9300 / 0.9400/0.9600 etc etc . ( BRN )
There is another group of numbers I will refer to as Very Big Round Numbers - these are 1.000 / 1.500 ( VBRN ).

For obvious reasons, these VBRN 's are not in our usual line of sight but IMHO they can provide some severe when price is progressing towards these ones.
I believe the reasoning for probable action around these numbers is due to self - fulfillment. These are like any major lines of Support and Resistance in that Traders ( especially the Big Cats) will use them as targets as they are generally easy to calculate & see. Like any S & R level, it is advised to Trade away from them rather than towards them.


For me personally, each pair has its own points of interest. The Euro for instance, can have a reaction at say 1.3500 / 1.400 / 1.4500 etc . These are my BRN's for this one.

I think this will help explain what I mean by the abbreviations. Just another weapon in the arsenal that might save me from a stupid trade.

Speaking of which - being stupid can be easy sometimes eh ?
In last week's posts, I showed I was looking at the Aussie setting up. A wee lapse in concentration and whammo - I got involved in the Short I was waiting for. Before I realised it - I was in a trade that I had forbiden myself from taking. NFP Day .Forgot my own rules of checking calendar for Red News. Even though it was a Sim Trade, I had to immediately pull out with a 17 pip loss . Apart from being a stupid error on my part , I was a bit peeved because it was my 1st loss for June,

Guess we are human
Catch up tomorrow or next day.
  • #25,852
  • Jun 11, 2013 12:46pm Jun 11, 2013 12:46pm
Quoting HappyMe
Well....there is a new one at EURUSD..... Hope it's working out.... EDIT: trade reached 32 pips => SL moved to BE (break-even) {image}
Well well....sticking to the plan.....I made 63pips

I was very supprised this morning. Yesterday when I went to bed...there were 16pips untill BE. I thought the trade wouldn't hold the night....cool...it did!!

Looking for the next one ....
You can manage risk, but you can't manage the return
  • #25,853
  • Jun 11, 2013 1:01pm Jun 11, 2013 1:01pm
Quoting HappyMe
{quote} Well well....sticking to the plan.....I made 63pips I was very supprised this morning. Yesterday when I went to bed...there were 16pips untill BE. I thought the trade wouldn't hold the night....cool...it did!! Looking for the next one ....

Awesome - proud of your progress buddy.
  • #25,854
  • Jun 11, 2013 2:11pm Jun 11, 2013 2:11pm
Quoting funtik
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Kindly get rid of this garbage from our thread
  • #25,855
  • Jun 11, 2013 3:06pm Jun 11, 2013 3:06pm
Quoting HappyMe
{quote} Well well....sticking to the plan.....I made 63pips I was very supprised this morning. Yesterday when I went to bed...there were 16pips untill BE. I thought the trade wouldn't hold the night....cool...it did!! Looking for the next one ....


congrat! nice trade!
Yvon
  • #25,856
  • Edited 10:09am Jun 12, 2013 7:13am | Edited 10:09am
Maybe a new one ....

Well...I'm 2 hours to early with my trade... Thought the candle was already untill his end I believe I need a sleep.
Anyway...the break at the 1Hour was also there so I let him run




EDIT 1: SL changed to BE
EDIT 2: Price retracing from 1.33588 => Put my SL to 21.5pips...we wait and will see what happening
EDIT 3: Closed the trade @31pips... price is retracing I guess....

Wel not a bad trade....

Could I know the price maybe could retraced at that point?! mhhh

Well I looked again....yes I could know it see the D1 chart...
Attached Image (click to enlarge)
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Attached Image
You can manage risk, but you can't manage the return
  • #25,857
  • Jun 13, 2013 2:36pm Jun 13, 2013 2:36pm
Hi Guys - I'm back in action. Hey Happy - how has that Euro doing for you? I see Price hanging under that 1.3400 level so guessing you are out at B/Even ?

I played a Counter-Trend on the Aussie/Yen last night. It was a good result but I have noted a couple of things for my Journal. Entry was triggered on my H1 chart at the close of the breakout bar through the H4 trendline.
Point 1 - Using the H1 was only about 2 pips better than the H4 close
Point 2 - Getting in early with the H1 actually saw price go negative almost to my StopLoss on consecutive hourly candles. Finally headed
to where I expected but I am so pleased that I had gone to bed for the night as I would have been real jumpy watching that
that trade play out ( LOL )
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-06-14_0821.png Size: 82 KB

Attached Image (click to enlarge)
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Anyone else doing anything ?
  • #25,858
  • Jun 14, 2013 2:24am Jun 14, 2013 2:24am
Quoting binnie
Hi Guys - I'm back in action. Hey Happy - how has that Euro doing for you? I see Price hanging under that 1.3400 level so guessing you are out at B/Even ? I played a Counter-Trend on the Aussie/Yen last night. It was a good result but I have noted a couple of things for my Journal. Entry was triggered on my H1 chart at the close of the breakout bar through the H4 trendline. Point 1 - Using the H1 was only about 2 pips better than the H4 close Point 2 - Getting in early with the H1 actually saw price go negative almost to my StopLoss on consecutive...
Hi,
see my post: 25856 at edit 3.

For the rest I did no activity yesterday!
You can manage risk, but you can't manage the return
  • #25,859
  • Jun 15, 2013 11:24am Jun 15, 2013 11:24am
Hi everybody,

this is my first post since I'm new in forex. Just wanted to ask what I have to change to see the MACD as it is pictured in the graphs. My numbers are much bigger so I can hardly see the 45 and 30 lines because they are compressed. Does someone know what and how I can change this? I downloaded this indicator here from the site so it should actually work. I'm using MT4. Thanks.

Greetings,
Myrmica
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 55 KB
  • #25,860
  • Jun 16, 2013 10:34am Jun 16, 2013 10:34am
Quoting Myrmica
Hi everybody, this is my first post since I'm new in forex. Just wanted to ask what I have to change to see the MACD as it is pictured in the graphs. My numbers are much bigger so I can hardly see the 45 and 30 lines because they are compressed. Does someone know what and how I can change this? I downloaded this indicator here from the site so it should actually work. I'm using MT4. Thanks. Greetings, Myrmica {image}
hi Mymica,

try other version of macd template, see what are the result. As I mentioned some weeks ago , sometime the MT4 platform is the cause of that problem.- I have 3 platforms and one of them is having that problem.-

what is the name of the pair seen in the example you show?
on your MT4 platform, does eurusd pair have 4 digits or 3?
maybe your platform has a 3 digits capability only?
Yvon
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