4 Hour Strategy (MACD)

Quoting LifesAbeach

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{quote} Thanks Binnie. Would this be your same approach when it comes to round number levels?

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Quoting LifesAbeach

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Here's a quick summary on those extensions I use. But I still recommend watching all those videos on that website on Fibonacci levels. Use them with the MA's and TL's to determine TP levels. THEY REALLY WORK WELL. Phillip also used them in his latest videos. Here are my Fibonacci settings: Level -----------Description 0 --------0.0 0.236 --------23.6 0.382 --------38.2 0.5 --------50.0 0.618 --------61.8 0.786 --------78.6 1 --------100.0 1.272 --------127.2 1.618 --------161.8 2 --------200 -0.272 --------127.2 -0.618 --------161.8 -1 --------200...

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Quoting binnie

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{quote} Thanks for the lesson on your personal settings. I have just watched a few of those videos and he explains things clearly for sure. As for the BRN's, most will provide some sort of reaction but there are other numbers where price will simply charge thru from either direction. The more important ones are obviously the VBRN ( Very Big Round Numbers ) and these can include 1.0000 / 1.5000/ 2.0000 etc . Each currency has its own peculiarities and a quick way to determine what to watch for is to go to a Monthly chart & zoom out. Check...

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Quoting yaakruay

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{quote} Just wanted too add some extra information from the great videos. http://www.compassfx.com/video/flash/81408/81408.html Just add %$ in the Description box in properties..put a space between the number and the %$ ...easier to read on your charts. Next stop is the retracement level for a long buy order...and then we can move onto the expansion targets...easy peasy trading this week... {image} {image}

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Quoting yaakruay

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{quote} They say 95% forex traders fail...My view without any statistics or evidence to back up my theory is this.. Most beginners fund a forex account open mt4 and roughly follow a trading system without understanding much else.. recipe for disaster...this is the 95%. The 5% are the people who follow it through much like a university degree course. 3 - 4 years of learning...without a return on your studies...until you start work..... Learning and practice is the key to success...IMHO... Do you ever wander what happened to the traders who all contributed...

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Quoting LifesAbeach

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{quote} Hey Richard just some comments on your chart. First thing: There is no wrong or right way to draw your Fibs but this is how I do it. You'll notice looking at my chart that there is no difference between my 38.2 and your 61.8 (100-61.8=38.2) so there's nothing wrong with yours but the problem comes in when you listen to a mp3 or someone writing something and saying price retraced to 61.8 level but on your chart you had 38.2. Big difference. I made the same mistake. This is how I do it (see example 1 and 2). I see you also use fractals. Remember...

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Quoting LifesAbeach

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{quote} If 95% of traders fail that's good news for beginners like me. Why? Because that means I can take any strategy and just do the opposite of what that strategy tells me to do. If the strategy I use gives a short signal I just take a long. If the strategy gives a long signal I just take a short. That way I will be part of the 5%. Food for thought. Hahaha

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Quoting yaakruay

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{quote} Wakey, wakey my friend...that strategy already exists....it's the yaakruay method...

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Quoting binnie

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{quote} Always someone wanting to sell their strategies eh?? How much do you want buddy ? A bit of news hanging around lately so I want to see things settle a bit before I get too serious again. Kiwi Interest rate shortly. The China impact, the Russian issue, the awful plane disaster ( my heart goes to all who are sharing grief ). Anyway, just gonna post a couple of charts to keep interest going and create a bit of discussion on the ideas. {image} {image} {image}

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Quoting LifesAbeach

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And here I'm telling Richard my way of drawing Fibs and I can't even do it. Had to be the nerves and adrenalin pumping during that time. I won't say the way I did it was wrong but it's just not the way I usually do it. Here's how I usually do it: {image} {image}

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Quoting binnie

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{quote} Hi Lifer - I think I have a grasp on your idea of Fibbing ( LOL ) but must be honest, i am totally confused. Did you enter off the H1 based on the H4 signal or was your signal on the H1. Fibs to me are a possible tool to determine target levels. I have never used them to enter a trade or as a way to avoid entering a trade. I will try to follow what you are doing but bear with me as this is foreign territory to me. I have spent some years searching for a method that I can personally own - Phillip has given this to me in...

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Quoting LifesAbeach

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{quote} I expected a TC on the 4H TF but there was still an hour left before the candle close so I switched to the 1H TF to get an earlier entry. (1H Strategy) Here is the graph that I posted before when I was explaining Fib Extensions. In example1 we were in an up move. Today we were in a down move. (Just the opposite). See example2 and example3. (See how the pink lines in example2 and example3 correspond) If there is something you don't understand please ask. I hope I didn’t confuse you with the Fibs. Everyone has there own preferences on indicators...

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Quoting LifesAbeach

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Possible setup for later. My candle only closes 2Hours30Minutes from now so I hope the move won't be over by then. Price has been ignoring 89sma so I'm hoping it will ignore it again. {image} {image}

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Quoting binnie

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{quote} Good morning Lifer, Nice set up buddy. The 200 as support with a perfect PinBar signal to confirm something brewing. Macd nice shape too. Big candle though - did you manage to get onboard with your lower timeframe method? {image}

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