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4 Hour Strategy (MACD)

  • #26,201
  • Oct 23, 2013 12:51am Oct 23, 2013 12:51am
Quoting binnie
{quote} Good One Fuiyong. Your selection of trade and the MM of it is good . I do not have this pair on my radar but it obviously suits your eye & TimeFrame for watching charts. Yep that large bullish candle earlier today was really the markets way of soaking up the news. Hey you cannot be at the screen all day so you achieved what you have set out to do . I really think you have a pretty good understanding of the H4 Method. If I am permitted, I will just comment on 2 points that I hope will help you even further. I see you have drawn...

Thanks Binnie for you feedback. And points taken. I learn a lot from people like you who bother to points things out to me especially on my mistakes.

Yes I used the trendline to set my target profit. Another way I improve my understanding of this strategy is going the videos through and through again. I do that every week or every fortnight. That's my method of carving the lessons in my heart.

Thanks Binnie.
  • #26,202
  • Oct 23, 2013 1:29am Oct 23, 2013 1:29am
Quoting Fuiyong
Hi, Took this trade EurJpy on 21st October and was close out on 22 October for a gain of 52pips. I was not there to watch the trade with the profit target was hit. Otherwise I could have adjusted my target and stop loss to make another 50pips gain. but no regret as all went well. Appreciate you insight to this trade and feedback if my analysis was sound. And hope I have made the chart easy to follow. Thanks for your support. {image}

Money in the bank...wicked...

I want to know what was your trigger for taking the trade where you did?

Was it a close above that last high?
Small stop loss?
You liked the candle formation?
You had already targeted that price as a potential buy area?
Macd moving up?

Anymore insight would be appreciated...just been kind of nosy to see how you operate so i can learn...

Cheers me dears
  • #26,203
  • Oct 23, 2013 1:44am Oct 23, 2013 1:44am
Quoting binnie
would want to be very picky about which one to trade Of course these are just my views and we all know that the market don't give a stuff about what I think
Brilliant....

Happy days, I didn't pull the trigger last night...would have woken up crying in my cornflakes...

But all is not lost as you pointed out, profit taking and then round 2 begins.

I am assuming we now watch for a close above or below the 21 as the rhythm (F.me..4 attempts to spell rhythm) suggests.

Happy trading...
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  • #26,204
  • Oct 23, 2013 3:10pm Oct 23, 2013 3:10pm
Trading plan..

Idea now changed..

Looks like the up rhythm has changed as per the system...now closed under the 21..

Can we trade the under touch of the 21 down to the 89?

Macd now bearish and forming a RB .. or what else ?

A weak, doji candle...

See what happens next....
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  • #26,205
  • Oct 23, 2013 3:53pm Oct 23, 2013 3:53pm
Good morning all - another fine sunny morning out my window
Just recapping my plans from last night - far too much volatility on my Aussie & Kiwi pairs & what was rythym() ain't looking too nice at the moment.
Aussie: has closed through the 21. Rule allows that if price breaks thru from above at the end of a run, it can come back to test the 21 before carrying on to the 89 or it may just slide on down to the 89 without a re-test. I think the BRN 0.9600 has played its part as Support and Price has thrown us 2- 3 wicks to indicate buyers still want to see a move upward. Who do we believe??
My watch today will be for the BRN to hold strong and for price to find a close back above the 21. If my idea works out, I will look for a long entry and the Macd to confirm a trigger with a nice RB.
The other possibility IMO is that price returns to the 21 and heads away down towards the 89 with a solid close below the BRN. This would signal to me that a change might be starting.

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Kiwi : price has broken strongly thru the 21 & now closed under BRN 0.8400. Tested the 89 3 times with indecision candles & now looks like it is working out its next steps. If we can get a good bullish close here , I will try a long if the Macd completes a RB.

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  • #26,206
  • Oct 23, 2013 4:04pm Oct 23, 2013 4:04pm
Quoting yaakruay
Trading plan.. Idea now changed.. Looks like the up rhythm has changed as per the system...now closed under the 21.. Can we trade the under touch of the 21 down to the 89? Macd now bearish and forming a RB .. or what else ? A weak, doji candle... See what happens next.... {image}
Hi buddy - sorry mate , missed your post while I was doing mine. I really think you have got the idea of Rythym. Personally I would love to see price resume its long trend. But if I am wrong in my analysis, no worries - just wait a bit longer for the True Direction to be revealed.
  • #26,207
  • Oct 23, 2013 4:22pm Oct 23, 2013 4:22pm
COUNTER TREND TRADE:

Sometimes it is hard for us amateurs to sit on our hands and wait until the market tells us what it wants to do and invites us to play
I know we have discussed CT trades but our rules generally tell us to remain in the direction of the MOOD ( 89 ). Well that is my rule anyway.
I often see setups like the one attached and get tempted too often to jump in. Fortunately I remain strong willed and fight the urge to be in the market at all times day & night as it is so exciting and a lot of fun.
If I had been awake to take an entry on this one, I would be currently at target *1 ( +20 pips) and now looking for the balance of my trade to head to the 89 level. My stoploss would now be breakeven so regardless of outcome, I am up 10pips for this trade.
What will happen now ? - Price has reached mid point of the 8 & 21 and now turned back up. Macd has completed a nice RT & continues downward. What will be the end result here ???

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Does anyone have a comment or two so we can all learn together?
  • #26,208
  • Oct 23, 2013 9:19pm Oct 23, 2013 9:19pm
KIWI UPDATE ;

the 21 now tagged & trade closed for full target.
I am open to another opportunity if it shows itself and that will be a possible Short if the 21 repels price back through the 89 level.
If that were to happen, I will look for a trigger from the Macd ( TC) as this MIGHT be a change in trend just showing itself ?

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  • #26,209
  • Oct 24, 2013 1:17am Oct 24, 2013 1:17am
Quoting binnie
KIWI UPDATE ; the 21 now tagged & trade closed for full target. I am open to another opportunity if it shows itself and that will be a possible Short if the 21 repels price back through the 89 level. If that were to happen, I will look for a trigger from the Macd ( TC) as this MIGHT be a change in trend just showing itself ? {image}

Nice...I enjoy following your charts a lot more than trying to read about someones ideas...it's just easier for me to digest.......

Question....The trigger for your trade from the RB was the 2nd bullish line (B) up from the nicely formed RB with 4 candles.

You did not wait for this candle to close (2nd bullish Blue line)

You pulled the trigger on the close of the first Blue bullish line up, then the 2nd Blue bullish candle opened and you went for it?
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  • #26,210
  • Oct 24, 2013 1:26am Oct 24, 2013 1:26am
Another lesson learnt...thanks

I didn't put the BRN below current PA on my chart..... Now it's on and you can clearly see the support level.

Now I am a little bit stuck..

Macd making a RB so we are waiting for a close above the zero line for bullish move up?

Or a bearish move back down which would be to the 89 per the rules...

So watching Macd...Not for trigger but to confirm market sentiment.. bear power to 89...bull power running away from 8, 21 ?
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  • #26,211
  • Oct 24, 2013 2:05am Oct 24, 2013 2:05am
Quoting yaakruay
{quote} Nice...I enjoy following your charts a lot more than trying to read about someones ideas...it's just easier for me to digest....... Question....The trigger for your trade from the RB was the 2nd bullish line (B) up from the nicely formed RB with 4 candles. You did not wait for this candle to close (2nd bullish Blue line) You pulled the trigger on the close of the first Blue bullish line up, then the 2nd Blue bullish candle opened and you went for it? {image}

The entry for me is always on a CLOSE - I never enter early. I have seen huge profit taking in the last few minutes of a candle and this puts a totally different reading on what PA is doing. It will also affect the Macd and the bar can literally change colour making your planned trade suspect. Not saying an early entry will not succeed but it would cause a whole lot of anxiety & sweat knowing your'e now in a trade where the signal is not as strong as you 1st thought.
The Macd played its part here too with a Blue Close - this confirms my intention to enter & allows me to pull the trigger.

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If we get some time next week, would you like to have a look together at Phillip's method of EARLY ENTRY using the 60min T/Frame.
  • #26,212
  • Oct 24, 2013 2:36pm Oct 24, 2013 2:36pm
Quoting binnie
KIWI UPDATE ; the 21 now tagged & trade closed for full target. I am open to another opportunity if it shows itself and that will be a possible Short if the 21 repels price back through the 89 level. If that were to happen, I will look for a trigger from the Macd ( TC) as this MIGHT be a change in trend just showing itself ? {image}
This is exactly when patience & analysis pays off.
Rythym as Phillip described :

At the end of an uptrend when price has been bouncing along the 8ma and price then charges through the 21 from above, it can continue to the 89 or return back to the 21 again before continuing down. In this example, we got both - the initial surge to the 89, a return to the 21 and the move away down to the 89 again. As soon as there was the break & close below the 89 , the signal was confirmed by the Macd with a nice strong TC . Maximum Target is the 200. Stop just above the BRN 0.8400. Take some profit off & set Break even at about 1/2 of target - say 35 pips.

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  • #26,213
  • Oct 24, 2013 3:06pm Oct 24, 2013 3:06pm
@ TRADEMIN:

Hi Yvon, Just wonder if you can comment on what I " think " i am seeing starting to form here. All ma's have been deleted for clarity .
The Macd is making much sharper declines now - is this what Phillip describes as the 3 sisters ???.
Thanks for your input.
B.

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  • #26,214
  • Oct 24, 2013 4:08pm Oct 24, 2013 4:08pm
Quoting binnie
{quote} The entry for me is always on a CLOSE - I never enter early. I have seen huge profit taking in the last few minutes of a candle and this puts a totally different reading on what PA is doing. It will also affect the Macd and the bar can literally change colour making your planned trade suspect. Not saying an early entry will not succeed but it would cause a whole lot of anxiety & sweat knowing your'e now in a trade where the signal is not as strong as you 1st thought. The Macd played its part here too with a Blue Close - this confirms my...

I am well up for that....learning along with someone/people who is/are not selling a system/forum/trading room etc..

Also no BS either...

I am happy for studying whichever part of the system on which ever currency...love reading and posting charts now...
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  • #26,215
  • Oct 24, 2013 6:09pm Oct 24, 2013 6:09pm
Quoting yaakruay
{quote} I am well up for that....learning along with someone/people who is/are not selling a system/forum/trading room etc.. Also no BS either... I am happy for studying whichever part of the system on which ever currency...love reading and posting charts now... {image}
Ok buddy,
Will watch this one with you. Almost identical set up to the Kiwi EXCEPT price action still above the 89 . A re-test of the 21 and a move down to close below 0.9600 will get my interest for an entry down to the 89. Would like to see a strong red bar close to confirm.

Great if you are keen on looking at Early Entries. I will do some re-reading of Phillips lesson on the subject and lets see if we can follow what he is teaching us.

BTW - what do you prefer to be called on this thread .? Mine is Brian but everyone since schooldays calls me Binnie.
  • #26,216
  • Oct 24, 2013 9:10pm Oct 24, 2013 9:10pm
https://lh6.googleusercontent.com/-a...-no/usdnzd.jpg

Hi there Binnie,

Just looking the kiwi movement lately. It is running on the SMA 200 right now.
Clean breach technically opens way to 0.8232 10 Oct cycle low

Really like the way you explain about the rhythm = )
See you soon.
Own your own mind.
  • #26,217
  • Edited 9:41pm Oct 24, 2013 9:27pm | Edited 9:41pm
Quoting binnie
@ TRADEMIN: Hi Yvon, Just wonder if you can comment on what I \" think \" i am seeing starting to form here. All ma's have been deleted for clarity . The Macd is making much sharper declines now - is this what Phillip describes as the 3 sisters ???. Thanks for your input. B. {image}


Hi Binnie, :


Yep! looks like That! could be 3 sisters (but a bit close together, like the last RT not quite completed yet, maybe some move up before going down, just maybe)… look closely the macd…diverge neg! So we could be heading south! But don't forget that the market has the last word!

look the daily,, resistance just above, look the macd, still bullish, but diverge, weakness on the last RT,

my chart differs from yours, one sister missing!
Yvon
  • #26,218
  • Oct 25, 2013 12:15am Oct 25, 2013 12:15am
Quoting Arrow
{image} Hi there Binnie, Just looking the kiwi movement lately. It is running on the SMA 200 right now. Clean breach technically opens way to 0.8232 10 Oct cycle low Really like the way you explain about the rhythm = ) See you soon.

Good spotting Arrow - glad you have joined in. I see you have been a follower of this thread for quite a while. Looking forward to sharing ideas with you. Yep - that 200 will have to be strong to stop that charge down to the Support you have identified. The Dollar has taken a hit today looking at other pairs so we wait for some action to show itself I guess.
  • #26,219
  • Oct 25, 2013 2:11am Oct 25, 2013 2:11am
I usually don't trade Fridays...I realised over time that most of my trades were losers and it really pissed me off going into the weekend...

Exception today.

I am using trendlines from D1 and H4.
Watching for a couple of touches (look like three sisters but probably not!) hahah that's my uncertainty because its a new concept.
Macd bearish not RB or TC...cold go either way

Target is 89..

I have opened a trade early as need to leave for work...i can watch at work on my phone but at intermittent hours so harder to trade because i can miss the setups.

If i zoom in to H1...price is on D1 trendline but at top of H4 and macd is 2 red bearish bars

Lets see what happens...

Suggestions ideas..
Richard...
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  • #26,220
  • Oct 26, 2013 1:32am Oct 26, 2013 1:32am
Hi Binnie,

Found this while browsing through the thread..from an earlier member known as Palmer.

Good read for me on the about 1 hour trading.

Having read this i have gone back to the beginning and watched the 4 hour vid on youtube
Plus started at the beginning to glean more information.

I haven't got enough wit about me yet with the 4 hour to be jumping down to h1...but will be reading and learning about..

I like the idea of identifying some part of the system ie you mentioned the 3 sisters in a previous post... and then focusing in on that until it becomes part of my dna....

There is so much info its mind boggling...
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