Disliked@ FUIYONG {image} {image} I am only guessing what you were seeing there Fuiyong and I know my Charts will be slightly different to yours but the formation of the candles leading to your question will be similar. If you are looking to trade Phillip's H4 Macd method, it is very important that the Macd is used to confirm a trade entry and the actual trigger for entry is the close of the current candle. The motion of Price is the most significant point to the system and on my chart, I can not see any indication that there is a trend for me to look...Ignored
Thank you for your reply, certainly appreciate that. I have a few points to make. I am not arguing with you as I do know you are kind to be helping me. I am writing what I understand and I still welcome feedback and correction as I might have misunderstood what I though I have already understand. It is through correction that I will learn. Agree?
Ok let's go to the points. With regards to post 26115, yes that was what the chart and entry point I was referring (at the close of the 0000hr candle)
Now to post 26116, referring to the first chart - at the close of the entry candle (0000hr), the MACD was pointing upwards. I have a screen short of that chart but I could not post it here as told you yesterday I don’t know what went wrong but the thread does not allow me to post chart. The one you posted was take hours later and that MACD pattern has changed. The MACD on the chart I have at the close of the 0000hr candle was indeed pointed upward. I did use the MACD as entry conformation as it was pointed upward.
The next point about pull back for conformation entry – my understanding is this, price (on the 0000hr entry candle) pulled back to 21ema then it went away from 21ema (all happened at the same 0000hr candle). And if I have understood Philip Nel correct, whenever price is moving away from the 21ema, that where the high probability trade is. So at the close of the 0000hr candle I made the entry, that when the price was moving away from 21ema. I set my stoploss about 8 points below the 21ema (being aware that price has the tendency to pull back to the 21ema again). And I did that entry after MACD confirmation.
Result: yes I was taken out, I lost 24pip in that trade. And frustrating thing is the moment I was taken out price went up for 60 or more pips.
About chart posting, do I remember correctly to post a chart, I click on “upload from computer” and it will lead me to my folder where I can load my chart? Mine does not do that it just bring me to another page of the forecfactory website. Do you know how I can contact the technical team because I need someone to fix the problem for me?
Thank once again for taking my question. I hope I have posted about the trade is clear to you.
FY