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4 Hour Strategy (MACD)

  • #27,461
  • May 5, 2014 11:53pm May 5, 2014 11:53pm
Quoting freewilly
Hello... Been a while since my last post in this thread. Quite busy with trading and the whole real life stuffs... LOL. I saw a nice TC setup on USDJPY which I believe will go down after 1 or 2 candle formed. Here.... {image}
Following my post earlier, there's a confirmed TC on USD/JPY pair. Price rejected EMA8.

I will enter my order and see how it goes
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  • #27,462
  • May 6, 2014 1:30am May 6, 2014 1:30am
Slow going guys :

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  • #27,463
  • May 6, 2014 1:37am May 6, 2014 1:37am
Quoting freewilly
{quote} Haha... well.. can go for sure. What I mean too late is that there's an opportunity lost. If you enter earlier, then probably more pips can be collected. LOL
Points taken. Where is the earlier entry in this case. Can you please show me. Thanks
  • #27,464
  • May 6, 2014 1:52am May 6, 2014 1:52am
Quoting nic73
A final word on people who try to sell their so called strategy etc.. This is what I believe - having attended courses, searching internet for a strategy and used them. There are some people who offer forex strategy for free but they don't tell you the whole thing in the end you have to purchase something from them and they still don't work. Same with people who gives courses (expensive ones) they don't tell you everything. They claim to make tonnes of money from their products but I believe after seeing and experiences tells me that these people...
This is the truth...just like the beginning of the James16 thread...

There is so much free information youtube and other sites...its just a case of working through it all and gaining experience.

Nice post and good for discussion, not trying to derail the thread off target but just get as much information as possible about trading.
  • #27,465
  • May 6, 2014 1:55am May 6, 2014 1:55am
Quoting freewilly
{quote} Following my post earlier, there's a confirmed TC on USD/JPY pair. Price rejected EMA8. I will enter my order and see how it goes {image}

That 102.20 89ma on the h1/h4 area looks like it might be tagged before marching down.... good luck...
  • #27,466
  • May 6, 2014 2:13am May 6, 2014 2:13am
Quoting binnie
Slow going guys : {image} {image}

I'm waiting and waiting.. i've got a gut feeling there will be a big push this week.

I would have entered before but now my trading style seems to be waiting not entering..at least i preserve my account
  • #27,467
  • May 6, 2014 2:30am May 6, 2014 2:30am
Quoting nic73
{quote} Points taken. Where is the earlier entry in this case. Can you please show me. Thanks
If you remember, on the chart shown earlier, the candle was formed after almost 4 hour (around 15 minutes to form another H4 candle). By earlier, usually I place trade on the 1st hour after the candle formed to maximize the momentum.
  • #27,468
  • May 6, 2014 2:46am May 6, 2014 2:46am
Trying my luck on GOLD.

USD looks so bearish. That's why I enter.
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  • #27,469
  • May 6, 2014 3:03am May 6, 2014 3:03am
Quoting freewilly
Hello... Been a while since my last post in this thread. Quite busy with trading and the whole real life stuffs... LOL. I saw a nice TC setup on USDJPY which I believe will go down after 1 or 2 candle formed. Here.... {image}
Hi FW. I'm also checking out this one. But that 102 price level... Again an obstacle in the way for me. What are your opinions about this level? Are you considering it as Support or not? And why? As I've mentioned before these levels have always been a problem for me influencing my decisions in taking trades.
  • #27,470
  • May 6, 2014 3:11am May 6, 2014 3:11am
Quoting nic73
Hi, Hope someone can help me with this. Question is withing the chart. Once I get reply to this, subsequent questions will follow about taking this trade. Thank you so much.{image}
Hey Nic. This is called Hidden Divergence. Check out Post 26,536. I had the same question. I haven't found anything regarding this topic on the thread. I've done backtesting and it works well.
  • #27,471
  • May 6, 2014 3:15am May 6, 2014 3:15am
Quoting LifesAbeach
{quote} Hi FW. I'm also checking out this one. But that 102 price level... Again an obstacle in the way for me. What are your opinions about this level? Are you considering it as Support or not? And why? As I've mentioned before these levels have always been a problem for me influencing my decisions in taking trades.
Hi LAB,

You're right. That level has been bothering for quite a few times. I do hope I can see this resolve today as several factors will support the decline of USDJPY. Technically (attached), price action, MACD, and the divergence as well in my opinion is showing direction south. Another factor is Ukraine crisis awaken the risk off environment. You can see same thing happen with USDCHF going south.
I wish this is not a price trap. LOL.
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  • #27,472
  • May 6, 2014 6:37am May 6, 2014 6:37am
Quoting freewilly
{quote} Hi LAB, You're right. That level has been bothering for quite a few times. I do hope I can see this resolve today as several factors will support the decline of USDJPY. Technically (attached), price action, MACD, and the divergence as well in my opinion is showing direction south. Another factor is Ukraine crisis awaken the risk off environment. You can see same thing happen with USDCHF going south. I wish this is not a price trap. LOL. {image}
Trade closed. Profit booked +26 pips for USDJPY short. Still waiting for my GOLD to shine (hopefully)
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  • #27,473
  • May 6, 2014 11:31am May 6, 2014 11:31am
Quoting LifesAbeach
{quote} Hey Nic. This is called Hidden Divergence. Check out Post 26,536. I had the same question. I haven't found anything regarding this topic on the thread. I've done backtesting and it works well.
Ignore the answer that I gave you on hidden divergence. I got it wrong. Sorry. I was at work and in a hurry. Hope I'm not confusing you now.

Answer to your question:
when price is down and macd up = divergence
when price is up and macd down = divergence
  • #27,474
  • May 6, 2014 9:07pm May 6, 2014 9:07pm
Ok this is a trade on GboUsd I did yesterday. Made some pips. I took a number of pips but price went all the way to make 110pips. No regrets I exited much earlier, I made some and not loss, that's what matter most. And for the first time I took a trade on break of zero. Finally understood what break of zero is now. Thanks guys for those of you who helped in one way or another.

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  • #27,475
  • May 6, 2014 9:09pm May 6, 2014 9:09pm
Quoting LifesAbeach
{quote} Ignore the answer that I gave you on hidden divergence. I got it wrong. Sorry. I was at work and in a hurry. Hope I'm not confusing you now. Answer to your question: when price is down and macd up = divergence when price is up and macd down = divergence
It's alright. Don't worry I am going through the post now. So both are divergence and indication of a market change in direction.

Thanks.

Nicholas
  • #27,476
  • May 6, 2014 9:27pm May 6, 2014 9:27pm
Quoting freewilly
{quote} If you remember, on the chart shown earlier, the candle was formed after almost 4 hour (around 15 minutes to form another H4 candle). By earlier, usually I place trade on the 1st hour after the candle formed to maximize the momentum.
Hi,

I entered after the close of the first candle that was pulling away from 21ema. I was thinking you are referring to enter early on the 3rd hour of that closing candle.That means 1 hour before the next candle was formed.

Also, is it ok to enter from thr 1 hour chart. Because from my 1hour chart, price was pulling away from the 21ema about 2 hours earlier.

The chart is in post 27,474 if you need to refer.

Thanks
  • #27,477
  • May 6, 2014 11:19pm May 6, 2014 11:19pm
Quoting nic73
{quote} Hi, I entered after the close of the first candle that was pulling away from 21ema. I was thinking you are referring to enter early on the 3rd hour of that closing candle.That means 1 hour before the next candle was formed. Also, is it ok to enter from thr 1 hour chart. Because from my 1hour chart, price was pulling away from the 21ema about 2 hours earlier. The chart is in post 27,474 if you need to refer. Thanks
Hi nic,

Congratulations for the pips you made!

1hr chart is good to find best entry point. As long as 1hr and 4hr heading at the same direction and satisfied the 4H MACD requirement, it's good to enter. Like I said, if we can spot the condition earlier, more profits can be booked. But of course, don't test the river with your two feet, meaning, enter partially if you are unsure. After some time, add another lot. Hence, you can built up good positions and ride the pips this way. It's what I did to my USDJPY yesterday. Entered 0.1 pips at 102.01, add another 0.2 when it break 101.86 where I drew TL. Closed all trades when it hits 101.75. Although market moved +26 pips in my favor, I booked more in $$ because of the bigger lots. If you happen to read Bill Williams book (Trading Chaos 1 and 2), he mentioned this technique as reverse pyramid.
  • #27,478
  • May 7, 2014 1:52am May 7, 2014 1:52am
Quoting nic73
Ok this is a trade on GboUsd I did yesterday. Made some pips. I took a number of pips but price went all the way to make 110pips. No regrets I exited much earlier, I made some and not loss, that's what matter most. And for the first time I took a trade on break of zero. Finally understood what break of zero is now. Thanks guys for those of you who helped in one way or another. {image}
That was nice.....

I have been watching this one for a while..I didn't want to enter as i wondering if price was stalling and would not make it to the TL... well it blew right through the top H4 tl... next stop the daily TL then for a turnaround area..

This is the area i will be watching and may take a TC move upto the tl and then look for a short from there..

Opinions?
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  • #27,479
  • May 7, 2014 2:38am May 7, 2014 2:38am
Quoting yaakruay
{quote} That was nice..... I have been watching this one for a while..I didn't want to enter as i wondering if price was stalling and would not make it to the TL... well it blew right through the top H4 tl... next stop the daily TL then for a turnaround area.. This is the area i will be watching and may take a TC move upto the tl and then look for a short from there.. Opinions? {image}
Hey,

I am thinking of the Daily TL too, that price might head there after a pull back to 21ema. But you thought pulling back to 8ema, could that be a bit risky? I would only consider taking it from 8ema if the it is notvery far away from 21ema, like 10-15pips. Second concern is the gap between 8 and 21ema, they are getting wider, should I be worried about that?

Thanks
  • #27,480
  • May 7, 2014 6:13am May 7, 2014 6:13am
Can some one please take the trouble to show me how to trade in the smaller time frame? I still cannot understand. Please help.
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