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4 Hour Strategy (MACD)

  • #26,941
  • Feb 14, 2014 2:11pm Feb 14, 2014 2:11pm
Losing trade for the day.

Everything was perfect in my opinion. Maybe someone can comment and tell me what went wrong.

Maybe it's because it's Valentines Day.
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  • #26,942
  • Feb 14, 2014 2:13pm Feb 14, 2014 2:13pm
Quoting freewilly
This chart took my attention considering recent GBP strength... GBPUSD just took out its resistance (1.6667) and now traded at 1.6691. Will GBPJPY continue its uptrend? It bounced hard on EMA21 line.... TC detected....??? {image}
Did you get in the GJ - FW ? Looks promising. Even if you did not want to play the H4 with the piano keyboard TC , there was good opportunity to move down to the H1 for an entry. Well spotted. Good luck if you are in here. 1st trouble level looks like BRN 171.00 then next recent highs at 171.40 .

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And the GU also looked good for an entry by the TC Rules. These highs not seen for a long time. IMHO the possible level of resistance ahead could come from the Monthly 89ma around 1.6850. Lets see what happens next.

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  • #26,943
  • Feb 14, 2014 2:15pm Feb 14, 2014 2:15pm
Quoting yaakruay
{quote} Nice disclaimer... That disclaimer that is at the bottom of all trading material...."you may lose more than your initial deposit" I couldn't get my head around that. i asked my broker to explain but it still didn't make sense..i initially thought they would take money any extra money owed from my credit card. I was petrified I was going to lose my life savings, max my credit cards and take my pants and socks and all... I digress.... That red bar on the H4 macd is not a TC...please explain why, if you have time Happy days and pippin all......
Hey I think a TC only needs one red bar. I might be wrong. Hope I am understanding your question correctly.
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  • #26,944
  • Feb 14, 2014 2:27pm Feb 14, 2014 2:27pm
Quoting LifesAbeach
Losing trade for the day. Everything was perfect in my opinion. Maybe someone can comment and tell me what went wrong. Maybe it's because it's Valentines Day. {image}
Howdy Lifer - I think you got the Thorny part of that Valentine Day Rose. My 2cents - you took a good trade buddy.Just using the Macd TC rule was enough to have a crack at a short there. You did more than that by identifying a nice pinbar, Fib, price level as well so your plan was executed to perfection. I just looked back at FF RedNews to see if that was a reason. Stuffed if I know whats going on. USA & AUST employments stats in a mess, no confidence anywhere and the Toyota announcement !! Perhaps the USD is the culprit - so bad that all other currencies being used as safety nets... Just my thought for the day
  • #26,945
  • Feb 14, 2014 2:32pm Feb 14, 2014 2:32pm
Quoting LifesAbeach
{quote} Hey I think a TC only needs one red bar. I might be wrong. Hope I am understanding your question correctly. {image}
Agreed - 1 colour change bar following a sequence is all that is needed under the rules. I think the important thing is that there should be a reasonable number of bars preceeding the change that show higher Highs / lower lows etc etc. If the Macd shows alternating colours it starts to look like a Piano keyboard and that does not offer confidence in using it as a trigger.
  • #26,946
  • Feb 14, 2014 2:39pm Feb 14, 2014 2:39pm
Quoting yaakruay
{quote} Bloody 'ell LaB... How did you spot that..........200 ema / sma... well done, it does make a difference i tried both.... Freewill = FW This is my take on the chart. I think it's hit a resistance area. Look at daily, nice place for a retrace if price will continue up.. plus there is a resistance line that can be drawn near this price to stop it. Macd is showing bearish divergence, each move up has less power. So what are we waiting for? Retrace on H4.. red bars on macd, going under zero would be good. Then some sort of BPM....Breakout, Pullback...
Hi Buddy - nice chart thanks. I would not have even thought about the possibility of a Treble Top. ( I am now though..)
Not sure whats going on..... are the USD & Yen so bad that everything else is GREAT ???
Lets see what brews on Monday.
Have a neat weekend.
  • #26,947
  • Feb 14, 2014 2:44pm Feb 14, 2014 2:44pm
Quoting binnie
{quote} Howdy Lifer - I think you got the Thorny part of that Valentine Day Rose. My 2cents - you took a good trade buddy.Just using the Macd TC rule was enough to have a crack at a short there. You did more than that by identifying a nice pinbar, Fib, price level as well so your plan was executed to perfection. I just looked back at FF RedNews to see if that was a reason. Stuffed if I know whats going on. USA & AUST employments stats in a mess, no confidence anywhere and the Toyota announcement !! Perhaps the USD is the culprit - so bad...
Just spotted this TL as well.
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  • #26,948
  • Edited 3:37pm Feb 14, 2014 2:59pm | Edited 3:37pm
AT FREEDOMSEEKE:

Hi Theo, sorry mate - I did promise to get back to your questions . Apologies for taking so long. Going out with the youngsters in my family is hard work now. The body ain't so forgiving anymore.

The question of ZeroBounce:
You already know how this forms and have a pretty good idea of the visual display as price pulls back down towards the Zeroline. For price then turn completely away from that direction indicates some momentum & strength. That will (as far as I am aware and I stand to be corrected ) show a contrasting colour. Otherwise the macd will just slowly drift across the ZeroLine and continue in the same direction and same colour.

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QUOTED
New to this systerm. From Write up of Nell I think it is a TC systerm with the 89EMA, but reading through the tread I notice you taking a counter Trend as you have stated here. Is this a twist to the original system?.
For some one at work all day, Am thinking of trading on the Daily time frame , any insight?
Which pairs to you watch.

Regarding the rules of H4. The 89 is a target the same as the 200 & 365. The rules developed by Phillip were that Price reactions around the 21 were the most important issue. Rythym was established by using these reactions to form repeating patterns. Price moves thru the 21 - returns to it then heads to the next level. ( this is being simplistic but as you read through Phillips Rules, this will become very clear to you ). So the basic answer to you is that you should treat the 21 as your prime signal maker. \
The use of the 89 is still to help decide the mood of the market - above = bullish & below = bearish. This is left to each of us to work out the importance of the 89. If you use the rule literally, there will be many trades you will pass on that may be good winners. Likewise, there will also be many losing trades that you will avoid because this 89 will act like a filter. It is up to you how you treat what the 89 is telling you.
You have seen us talk about CT trades. Even if we meet Phillips rules that allow a CT entry, you have to be strict with yourself. Yaakruay ( Richard) said recently that CT trades are visually more appealing to take and easy to enter BUT the success rates are limited. You must have a proven method to go CT - Phillip says it is ok to Head away from a MAJOR level of S or R/ BRN /MA etc . The target cannot be greater than the 21ma and the RR must always be at least 1.5 : 1.

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Trend Continuation signals are pretty well covered in the 1st pages of the thread so take plenty of time & go through it all, This takes time so be patient, Ask questions as you go & we will try to help. I have copied a piece on the TC that Is in my mind permanantly now.

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Perhaps 1 of the most important bits of advice I can give you ---- ALWAYS trade AWAY from major levels of Support & Resistance and never enter a trade that is closing in on these levels. This will save you many times from hitting the wall and turning against you. Make sure your trade has plenty of room to move.

Hope this helps. Have a great weekend mate.
Let me know if you want more help and I will share what I can with you.
  • #26,949
  • Feb 14, 2014 3:52pm Feb 14, 2014 3:52pm
Quoting yaakruay
{quote} Nowt happened my friend.. lets make the plan for next week... Plan A or Plan B... we staying with the same analysis?
Hey Richard - My H & S Plan A Short is history. Plan B Long looking better now - need a close above my recent Resistance level and will look for a move away toward BRN 0.8400. Zooming Out on Daily shows the 0.8400 level to be solid so perhaps we wait for a BPM at that point ??
How do you see it?

couple of ales /wines over the weekend.
Enjoy .
  • #26,950
  • Feb 14, 2014 5:16pm Feb 14, 2014 5:16pm
Hi Philip,

I think we would love to see how you handle the week behind us if you had traded.
Please send us video recapping the week as you saw it. We would love to hear and see the market as it unfolds through your lens
Much appreciated.

sv
  • #26,951
  • Feb 14, 2014 5:21pm Feb 14, 2014 5:21pm
Kiwi

Richard - got my close above that Resistance level so part 1 complete. Roll on Monday

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  • #26,952
  • Feb 14, 2014 10:00pm Feb 14, 2014 10:00pm
why somebody not created EA for this system ? i remember MACD scalping will works perfect in reverse MACD indicator at 4h chart
  • #26,953
  • Feb 14, 2014 10:17pm Feb 14, 2014 10:17pm
Quoting FX_James
why somebody not created EA for this system ? i remember MACD scalping will works perfect in reverse MACD indicator at 4h chart
Hi FX James - thanks for popping in. I'm sure I speak for our thread followers when I say : No Thanks - we not interested.
Please dont be offended but this thread has been so successful by keeping it simple & to the Rules set by the Boss .
  • #26,954
  • Feb 15, 2014 12:04am Feb 15, 2014 12:04am
Me on Valentines day.
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  • #26,955
  • Feb 15, 2014 1:00am Feb 15, 2014 1:00am
Quoting LifesAbeach
Me on Valentines day. {image}
Awesome Lifer -

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  • #26,956
  • Feb 15, 2014 4:16am Feb 15, 2014 4:16am
Quoting binnie
{quote} Awesome Lifer - {image}



Love it..... so true.... ...
  • #26,957
  • Feb 15, 2014 2:03pm Feb 15, 2014 2:03pm
Hi
I will post video tomorrow again about the weeks trading.

Did some very short term trading this week on a demo account. People said that one cannot make money in forex so I just want to show them that it is possible. 42% in 6 days. Here is the result.
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  • #26,958
  • Feb 15, 2014 2:49pm Feb 15, 2014 2:49pm
I looked through a few currencies and thought Gold looked interesting trading next week.

I copied you Binnie and put a Plan A and B on...see what happens next week..

I will be watching...

Freewilly, I was thinking of you and the counter trends CT and thought Gold may be a good one for a CT to watch or trade.

Lets watch and learn together..any ideas or suggestions anyone?
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  • #26,959
  • Feb 15, 2014 2:57pm Feb 15, 2014 2:57pm
Quoting FX_James
why somebody not created EA for this system ? i remember MACD scalping will works perfect in reverse MACD indicator at 4h chart
Binnie has my proxy vote on this.

This thread is about people learning how to trade for themselves not using an EA.

Feel free to make the EA and make it free for people and start a new thread, you can always tell us when its made and is available free of charge.

I would take a look as it could be useful in identifying trade set up.

But the macd already does this with pop ups advising what pattern it has made.
  • #26,960
  • Feb 16, 2014 3:27am Feb 16, 2014 3:27am
hi phil thank for your post but is possible know the time frame of yourgraphics of your trades?
i don't replicate them in my graphics to konw the patterns
thanks
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