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4 Hour Strategy (MACD)

  • #27,361
  • Apr 22, 2014 11:10am Apr 22, 2014 11:10am
Quoting nic73
Hi, Thank you all for you replies. I am back trading after the Easter holidays. Hope you guys are back too. I am digesting all your replies and yes I think I have a slightly better idea of applying the system correctly now. Don't know if I am alone in this, reading and listening to the videos and lessons is one thing but applying it is quite another. It all sounds simple but to apply it in real life chart is not as simple as I thought. Boy, am i ever going to make?? Just don't know. Nicholas
Don't worry you're not the only one. Trading is simple but not easy. Practice practice practice. And don't jump around from one strategy to another. Stick to this one. I spend 70% of my time looking at charts and 30% of my time on education.
I try and watch as many videos as I can. I prefer watching videos which for me is way better than reading articles and books.

Really good videos to watch are the ones on compassfx.com which I've already stated numerous times. Also a VERY VERY good video to watch is Steve Nison's seminars on Price action and Support&Resistance. This is the guy who revealed candle sticks to the rest of us. So where else would you be able to get a better education than from the master himself. You can download it from The Pirate Bay. Just type in Steve Nison. It is the 13Gb file. Very big but worth it.
  • #27,362
  • Apr 22, 2014 1:40pm Apr 22, 2014 1:40pm
Quoting LifesAbeach
{quote} Don't worry you're not the only one. Trading is simple but not easy. Practice practice practice. And don't jump around from one strategy to another. Stick to this one. I spend 70% of my time looking at charts and 30% of my time on education. I try and watch as many videos as I can. I prefer watching videos which for me is way better than reading articles and books. Really good videos to watch are the ones on compassfx.com which I've already stated numerous times. Also a VERY VERY good video to watch is Steve Nison's seminars on Price action...
Thanks for the info life.
Mike
Failure, is a wonderful teacher!
  • #27,363
  • Apr 22, 2014 10:26pm Apr 22, 2014 10:26pm
Quoting LifesAbeach
Welcome back guys. Now is not the time to start dreaming. Binnie here is the modified indicator. {file}
Can someone teach me how to install this indicator in the chart / platform? Thanks.
  • #27,364
  • Apr 23, 2014 1:50am Apr 23, 2014 1:50am
Quoting nic73
{quote} Can someone teach me how to install this indicator in the chart / platform? Thanks.

This video seems easy to follow
Inserted Video


Loads of original Steve Nison stuff on youtube too...
  • #27,365
  • Apr 23, 2014 2:12am Apr 23, 2014 2:12am
I feel like I haven't traded in weeks.

I hardly looked at the charts last week as the holidays were looming in and we had great weather for once and could sit outside after work..

So i have irrationally entered a trade this morning before i leave for work..

Its a live trade as always, lets see what happens... if anyone does want to win at forex...just do the opposite to me
Attached Image (click to enlarge)
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  • #27,366
  • Apr 23, 2014 3:16am Apr 23, 2014 3:16am
Quoting yaakruay
I feel like I haven't traded in weeks. I hardly looked at the charts last week as the holidays were looming in and we had great weather for once and could sit outside after work.. So i have irrationally entered a trade this morning before i leave for work.. Its a live trade as always, lets see what happens... if anyone does want to win at forex...just do the opposite to me {image}
I also haven't done any trades. I'm thinking of staying out this week. To many holidays and news regarding interest rates.
I hope your trade works out. Just be careful of that small range we are currently in. If price breaks out I think the price level and 61.8 might be a nice target.

After watching those Steve Nison videos I threw out my pivots and I'm just using Fibs and horizontal support&Resistance. Still learning and trying to find my trading rhythm haha.
Attached Image (click to enlarge)
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  • #27,367
  • Apr 23, 2014 3:29am Apr 23, 2014 3:29am
Quoting yaakruay
{quote} This video seems easy to follow https://www.youtube.com/watch?v=PrPVZPz8kew Loads of original Steve Nison stuff on youtube too...
Thank for the video and installed the MACD indicator. But.... one more issue, with the coloured MACD indicator, I cannot insert the level (0.0015, 0.003, 0.0045. -0.0015 etc) successful. Tested it and to insert the levels on the non coloured indicator is not an issue. Do this happen to the rest of you?
  • #27,368
  • Apr 23, 2014 4:14am Apr 23, 2014 4:14am
Quoting nic73
{quote} Thank for the video and installed the MACD indicator. But.... one more issue, with the coloured MACD indicator, I cannot insert the level (0.0015, 0.003, 0.0045. -0.0015 etc) successful. Tested it and to insert the levels on the non coloured indicator is not an issue. Do this happen to the rest of you?
Hi Nic

You have to use this indicator if you want to add the levels.
Attached File(s)
File Type: ex4 MACD_H4_300_v100.ex4   4 KB | 385 downloads
  • #27,369
  • Apr 23, 2014 12:10pm Apr 23, 2014 12:10pm
Quoting LifesAbeach
{quote} I also haven't done any trades. I'm thinking of staying out this week. To many holidays and news regarding interest rates. I hope your trade works out. Just be careful of that small range we are currently in. If price breaks out I think the price level and 61.8 might be a nice target. After watching those Steve Nison videos I threw out my pivots and I'm just using Fibs and horizontal support&Resistance. Still learning and trying to find my trading rhythm haha. {image}

Surprise surprise, stopped out with a loss....to be expected, I knew it was a crap trade but didn't want to close it once i'd opened it, as i wanted to see what happened.

I can only follow my trades winners or losers and do the after analysis to imprint on my brain, when to and when not to pull the trigger.

Funny you said about fibs, as i uploaded the picture, i thought about fibs and why i had not put them on...as soon as i thought about them i could see a different idea and that maybe price would head South once it had made it through the BRN...that is my 6th sense that is usually correct and i over ride it...silly me..

Also crap trade, i usually have the daily open next to the h4 for an easy comparison....this morning i didn't do that....., no trendlines and didn't wait for the macd/candle to show itself near that zero line.....

lesson learnt...... wait for the close of a candle.....
  • #27,370
  • Apr 26, 2014 9:46pm Apr 26, 2014 9:46pm
I had some issues with the indicator just posted (only related to levels), so I changed the values. I think it has to do with 5 digit or 4 digit broker feeds.

The attached file works for 5 digit feeds.

Attached File(s)
File Type: mq4 MACD_H4_300_v100a.mq4   3 KB | 397 downloads
  • #27,371
  • Apr 27, 2014 2:49am Apr 27, 2014 2:49am
Quoting nic73
Hi guys, Time to post my question again on this forum. It about AUDNZD a couple of days ago. I thought the market was moving and wanted to enter after the close of the 4hr candle but then there was a long spike (on top) of the candle at close. That spike there, is there an indication that something is happening in the market and that it is not time to enter the trade as it might mean price cannot move up any further? Or should I take the trade since it has broken the 21ema and enter for buy? As indicated in the chart, price move upward and make...
Hey Nic here's the answer to your question. From Phillip himself. I found this mp3 while going through the thread.

If the signal candle has a tail go to the 1H for Price Action confirmation. If the candles don't look good on the 1H wait for price to pass the 78.6 Fib Level.
Remember that I posted my chart and my 4H chart looked different from yours because we have different brokers. Therefore a "bad looking" 4H candle on your chart might be a "good looking" candle on my chart. The nice thing about switching to the 1H TF is that all the broker's 1H TF candles look the same so we all see the same candles and nobody misses out on any trades.

Do you mind posting your 1H TF of the AUDNZD trade and adding a vertical line on the 00:00 04:00 and 08:00 candles so that I can analyze it and if something like it happens again I'll know what to do.

I hope all of this makes sense.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadPhillip.png Size: 48 KB
Attached File(s)
File Type: mp3 UsdCad.mp3   691 KB | 292 downloads
  • #27,372
  • Apr 27, 2014 2:49am Apr 27, 2014 2:49am
Quoting FFJeternal
I had some issues with the indicator just posted (only related to levels), so I changed the values. I think it has to do with 5 digit or 4 digit broker feeds. The attached file works for 5 digit feeds. {file}
Thanks FFJ
  • #27,373
  • Apr 28, 2014 1:44am Apr 28, 2014 1:44am
Quoting LifesAbeach
{quote} Hey Nic here's the answer to your question. From Phillip himself. I found this mp3 while going through the thread. If the signal candle has a tail go to the 1H for Price Action confirmation. If the candles don't look good on the 1H wait for price to pass the 78.6 Fib Level. Remember that I posted my chart and my 4H chart looked different from yours because we have different brokers. Therefore a "bad looking" 4H candle on your chart might be a "good looking" candle on my chart. The nice thing about switching to the 1H TF is that all the broker's...

That was a good find, reinforcing how to trade from the h4 and down to the h1. Nice...
  • #27,374
  • Apr 28, 2014 2:00am Apr 28, 2014 2:00am
I found an old template in mt4.....sorry about the colours... it's fun looking back at what i used before and then dropped to use something new.

I didn't know how to play this,,so i guess we have to wait...i think its a similar situation to the previous few posts.

Any suggestions or ideas what people are expecting?

Personally, I think there will be a move up to the 89 area on the h4..... before a move down.... that is just me..
Attached Image (click to enlarge)
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  • #27,375
  • Apr 28, 2014 2:58am Apr 28, 2014 2:58am
Quoting yaakruay
I found an old template in mt4.....sorry about the colours... it's fun looking back at what i used before and then dropped to use something new. I didn't know how to play this,,so i guess we have to wait...i think its a similar situation to the previous few posts. Any suggestions or ideas what people are expecting? Personally, I think there will be a move up to the 89 area on the h4..... before a move down.... that is just me.. {image}
It's difficult to anticipate the direction. Will have to wait. The daily says down and the 4H says up (which may be the pullback on the Daily).
On both of them there are sHs.
Attached Image(s) (click to enlarge)
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  • #27,376
  • Apr 28, 2014 6:31am Apr 28, 2014 6:31am
Hi there, hope everyone had a nice weekend.

I am currently trading AUDNZD and NZDUSD and made some pips. Wanted to post the charts but every time I click the "upload From Computer", it diverted me to another page of the forum. Can someone tell me how to contact the management of this forum so that I can get them to help me fix the problem. Thanks.
  • #27,377
  • Apr 28, 2014 11:24pm Apr 28, 2014 11:24pm
Hello everyone,

Just wanted to make sure that everyone agrees that AUD/USD is becoming a very long BULL trend.
Can anyone say when it is safe to take the trade exactly?

Thanks for anyone's help!!
  • #27,378
  • Apr 29, 2014 1:53am Apr 29, 2014 1:53am
Quoting nic73
Hi there, hope everyone had a nice weekend. I am currently trading AUDNZD and NZDUSD and made some pips. Wanted to post the charts but every time I click the "upload From Computer", it diverted me to another page of the forum. Can someone tell me how to contact the management of this forum so that I can get them to help me fix the problem. Thanks.

why not try the print screen function....just make the charts screen from jing or which ever program and then print screen

It's a work around while you cannot upload from the computer..
Attached Image (click to enlarge)
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  • #27,379
  • Apr 29, 2014 2:00am Apr 29, 2014 2:00am
Quoting Navinci
Hello everyone, Just wanted to make sure that everyone agrees that AUD/USD is becoming a very long BULL trend. Can anyone say when it is safe to take the trade exactly? Thanks for anyone's help!!
How long is very long?

which time frame are you talking?

h4 bearish
daily bullish (weak)
weekly bearish (weak)
monthly not sure..

This is my opinion. I would think there is some down movement left to go before resuming a strong move up......looking at daily the 200 or 89 will probably be touched before going up.....but then i have no idea....

The h4 is around the 200 need to see if it stays above or below before taking any longs for me.
  • #27,380
  • Apr 29, 2014 4:00am Apr 29, 2014 4:00am
Hi, Can any body tell me where to start step by step this system, I am very confused . This thread has ton of posts and unable to start,, Please help
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