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4 Hour Strategy (MACD)

  • #27,541
  • May 20, 2014 3:13am May 20, 2014 3:13am
Quoting nic73
I have an issue here since I started using the coloured MACD. I can see the level lines (15,30,45, -15 etc). If you look at the chart below the lines are too close together. I reset it to 150,300 etc. but will disappear when I switch to different currency chart. Know how I could fix this? {image}
Hey Nic see if it works now.
Attached File(s)
File Type: mq4 MACDH4.mq4   3 KB | 460 downloads
  • #27,542
  • May 20, 2014 4:09am May 20, 2014 4:09am
Here is a question on EURUSD. Thanks
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  • #27,543
  • May 20, 2014 4:51am May 20, 2014 4:51am
Quoting nic73
Here is a question on EURUSD. Thanks{image}{image}
It looks like price on the 4H is ranging on the daily 200sma so we might see a move up. I would wait for a break of that small range on the 4H and then trade the pullback. IMHO.
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  • #27,544
  • May 20, 2014 5:41am May 20, 2014 5:41am
Quoting LifesAbeach
{quote} Hey Nic see if it works now. {file}
Thank you very much. It works perfectly well.
  • #27,545
  • May 20, 2014 5:44am May 20, 2014 5:44am
Quoting LifesAbeach
{quote} It looks like price on the 4H is ranging on the daily 200sma so we might see a move up. I would wait for a break of that small range on the 4H and then trade the pullback. IMHO. {image} {image}
Great! And thanks. That's what the market is doing now, obvious on the 1 hour chart.
  • #27,546
  • May 21, 2014 1:38am May 21, 2014 1:38am
Quoting akir
{quote} yes, Fails on 89 H1, but I see a nice divergence on H4 too, if the 139 round number holds that would be a good sign.... {image}

The BRN 139.00 failed to hold..

it could fall another 200 pips....i had to go out to the weekly to see a support level..

Do you think it will turn up?

Have you still got the trade open...

What i have started doing..which limits trading but keeps my funds in my account..

I want all three ducks lining up.....h1/h4/daily....if they are above/below 89...and then bouncing off moving averages on h1/h4 i will trade .....

I have learnt the hard way...

good luck
  • #27,547
  • May 21, 2014 1:54am May 21, 2014 1:54am
Quoting nic73
{quote} Great! And thanks. That's what the market is doing now, obvious on the 1 hour chart.

Hey Nic,

Don't forget the GBP...

Did you get an order in for the bounce off the moving averages..

I hadn't thought before, but we could have set a couple of pending orders for that move...bugger...... filed in memory for next time....

Free money or a 1000 pips guaranteed ! ho flipping ho...what say you LaB......


I think the move is coming and it could be either way still...

Daily TL held and is holding.....macd green and moving upwards and price just above 8/21.

h4 we know stuck in the middle, no trade again

h1 h1 looks sweet.... nice move up and pull back to the moving averages...ready for take off.... TC long on the macd too..

If i was a gambling man, i would take a punt... stop loss under last swing.....

I just took that trade on the GBP that i was typing about...i,m such a sucker....lets see what happens...
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  • #27,548
  • May 21, 2014 2:48am May 21, 2014 2:48am
Hi Richard,

Thanks for posting. Don't know I think could have traded here on the H1 chart. GBPUSD moved away from 21ema. And it is a trade between 21ema and 89sma. It was a chance for about 19ips. There was a pull back to 21ema on H1 and could have entered there after the pull away. What do you reckon?
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  • #27,549
  • May 21, 2014 3:14am May 21, 2014 3:14am
Quoting yaakruay
{quote} The BRN 139.00 failed to hold.. it could fall another 200 pips....i had to go out to the weekly to see a support level.. Do you think it will turn up? Have you still got the trade open... What i have started doing..which limits trading but keeps my funds in my account.. I want all three ducks lining up.....h1/h4/daily....if they are above/below 89...and then bouncing off moving averages on h1/h4 i will trade ..... I have learnt the hard way... good luck
Iam out with a small loss. the pinbar was a fake.

I want to try your suggestion.

thanks
  • #27,550
  • May 21, 2014 4:24am May 21, 2014 4:24am
Quoting yaakruay
{quote} The BRN 139.00 failed to hold.. it could fall another 200 pips....i had to go out to the weekly to see a support level.. Do you think it will turn up? Have you still got the trade open... What i have started doing..which limits trading but keeps my funds in my account.. I want all three ducks lining up.....h1/h4/daily....if they are above/below 89...and then bouncing off moving averages on h1/h4 i will trade ..... I have learnt the hard way... good luck
hi,
after I recognized that trade and followed yours advise, I should
open a sell trade at that Point ( green) s.att. H1-H4-D were under 89, bounce on 21 at H1
give me the sell Signal.

good trading.
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  • #27,551
  • May 21, 2014 8:26am May 21, 2014 8:26am
Two most difficult things about forex are determining when to enter and when to exit a trade!
  • #27,552
  • May 21, 2014 11:41am May 21, 2014 11:41am
Quoting nic73
{quote} Often enough, the price moved just so fast, can't even catch a trade on 5min. … I started with EURUSD gradually GBPUSD because I found it boring just trading EURUSD as I could not capture much trade. EURJPY, I watched it and I think it is a bit very volatile …. So far, my trading experiences told me it works on some pairs fairly ok. But on some other pairs especially the one I mentioned here it isn't easy to capture a trade.
.
​Just as a thought have you considered testing and using the other pairs that seem to work? I would strongly recommend you don't get hooked onto particular pairs - just work with those that seem to work for you. I used to like GBP/USD and USD/EUR but recently they seem to do very little then suddenly explode. Then settle again. Additionally the intraday range is much lower than when I started some years ago. Anyway, good luck with this.
  • #27,553
  • May 21, 2014 2:15pm May 21, 2014 2:15pm
Quoting nic73
Hi Richard, Thanks for posting. Don't know I think could have traded here on the H1 chart. GBPUSD moved away from 21ema. And it is a trade between 21ema and 89sma. It was a chance for about 19ips. There was a pull back to 21ema on H1 and could have entered there after the pull away. What do you reckon? {image}{image}
I just noticed, i didn't post the chart from this morning with the trade.

I made two charts as i took the trade as i was typing about the first chart...Here it is with my stop loss etc...obviously i could have lost too...but it was a small winner 20 pips could have been 50...but i ain't got the balls yet ;-)
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  • #27,554
  • May 21, 2014 2:53pm May 21, 2014 2:53pm
Quoting nic73
Hi Richard, Thanks for posting. Don't know I think could have traded here on the H1 chart. GBPUSD moved away from 21ema. And it is a trade between 21ema and 89sma. It was a chance for about 19ips. There was a pull back to 21ema on H1 and could have entered there after the pull away. What do you reckon? {image}{image}

I'm happy taking 19 or 20 pips every order, a few of them per day at a £1 per pip would be okay..wouldn't...free money again....

I think its lucky i was watching those charts when it happened, or was it?

This is why i decided to only watch 4 pairs, so i can get into the rhythm of what they are doing and catch the moves.

Pullbacks are what you are looking to trade.....well that's what i look for now...


edit...since we started talking about the GBP last week...it has moved up 150 pips.... remember i did that long trade on the trendline from the daily but i closed the order early..... these pairs move and you can catch the moves...we've just go to work out how to do it..
  • #27,555
  • May 21, 2014 9:19pm May 21, 2014 9:19pm
Quoting crabbydog
{quote} ​Just as a thought have you considered testing and using the other pairs that seem to work? I would strongly recommend you don't get hooked onto particular pairs - just work with those that seem to work for you. I used to like GBP/USD and USD/EUR but recently they seem to do very little then suddenly explode. Then settle again. Additionally the intraday range is much lower than when I started some years ago. Anyway, good luck with this.
I still stick to those pairs. Because Phillip started this forum with those and make money from them. Unless Phillip says so, I will stick with them. Yes what you said about those 2 pairs is what I am going through. But I have posted my concern on this forum many times, and the replies I got were positive and people assure me these pairs do work. They have also taught me how to trade them and I am working on their advice. The idea is, I don't like to give up after working so hard and so long, there must be a solution to the problems I face so I decided to ask for advice. And I got people here who guide me. I will give up EURUSD and GBPUSD if the guru, Phillip or some experience and reliable traders in this forum confirm so. And yes I have tested it and it didn't work but that's because I have not understood the method to successfully implement it.

Giving up something that you have been working on is a real waste of effort and time; and draining to the mind. So I would choose to continue working on it by asking experience people for advice and work on their teachings.
  • #27,556
  • May 21, 2014 9:25pm May 21, 2014 9:25pm
Quoting yaakruay
{quote} I'm happy taking 19 or 20 pips every order, a few of them per day at a £1 per pip would be okay..wouldn't...free money again.... I think its lucky i was watching those charts when it happened, or was it? This is why i decided to only watch 4 pairs, so i can get into the rhythm of what they are doing and catch the moves. Pullbacks are what you are looking to trade.....well that's what i look for now... edit...since we started talking about the GBP last week...it has moved up 150 pips.... remember i did that long trade on the trendline from...
Great on you. If I had switched to the 1hr TF an hour or so earlier, I would have seen the move moving. I didn't I kept looking at the daily and H4 only. Lessons to be learned.

What's the next pair that we can watch together?
  • #27,557
  • May 22, 2014 12:43am May 22, 2014 12:43am
Quoting nic73
{quote} Great on you. If I had switched to the 1hr TF an hour or so earlier, I would have seen the move moving. I didn't I kept looking at the daily and H4 only. Lessons to be learned. What's the next pair that we can watch together?
Euro
Daily = bearish, 2 long pin bars macd moving up. but just keeping out of the range between 89-200
h4 = bearish, but price is flat, macd moving up , divergence......
Have to wait for break of last swing low or close over 8/21

no trade

Usd/jys
daily = bearish, nice pullback to the 200...but macd is shallow
h4 = price boomed to the 89, macd positive ... price testing resistance..
h1 . = price could range between 365/89.... macd RT.. (price is testing H4 resistance)

could watch this pair on the h1 and see of a RT happens and price makes it way back down.

I probably wont trade it, but i will watch it just to see what happens on the h1.....


aussie....looks like a change is coming, the daily shows a range bound currency, will it bounce up as expected or keep going down?


gbp...we're looking at this daily ...see what happens with price and off that TL on the daily....
h4 bullish, but a RT maybe coming and back to the 8/89......
H1...will price stay above 8/21?
waiting again..

that is what i see, i hope you can follow what i am saying and make your own comment and opinions.
  • #27,558
  • May 24, 2014 12:24pm May 24, 2014 12:24pm
I just want to encourage everyone again to just stick to one strategy and not jump around. It is so tempting to check out other strategies and put your trust in other traders. There's one trader here on FF that has over 10000 replies. One would think this guy knows what he's talking about. But... then when you think about it he jumps around from thread to thread leaving comments (good and bad). But if this guy was so good he would only be concentrating on one thread.
Another thing I learned: Don't study indicators, study PA. Mechanical systems don't exist.

Anyway, here is something I've noticed. It could help a person to stay out of a bad trade: When you are in a trend and trading TC's and a Left Shoulder and Head has formed of a sHs the left shoulder could become Horisontal S/R. Here are a few examples:

And to the millions of traders (and I'm being sarcastic) viewing and participating in this thread I now know why only 5% of traders succeed in forex. It's because the other 95% are not trading the 4H Market Rhythm. haha
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  • #27,559
  • May 24, 2014 2:08pm May 24, 2014 2:08pm
Quoting LifesAbeach
I just want to encourage everyone again to just stick to one strategy and not jump around. It is so tempting to check out other strategies and put your trust in other traders. There's one trader here on FF that has over 10000 replies. One would think this guy knows what he's talking about. But... then when you think about it he jumps around from thread to thread leaving comments (good and bad). But if this guy was so good he would only be concentrating on one thread. Another thing I learned: Don't study indicators, study PA. Mechanical systems don't...

I know we've discussed and used various methods in the previous 6 months...pivots/fibs etc.

But i have started using ichimoku as a back up to support the h4 system, you have seen this in my recent uploads.

I really like this as add on to give me support/resistance zones and lining up the h1/h4/daily.

It keeps me out of trades i would have took previously.

I don't know about other threads as i don't participate or even browse them.

The only thing i like now, is the h4 system backed up with ichimoku. This suits my style.

I've spoken about my problem of believing in TC's as the targets are imaginary versus CT which seem easier because you can see the target.

But with ichimoku this has given me the belief in the TC from the h4 system. Currently this is my 1000 pips per month and free money!! haha (sarcastic too)

This system works you just have to trust, believe and keep practising to learn.

Thanks LAb for the shs heads up, i'm rubbish at identifying these, as much as i try to identify them i usually get it wrong, so more uploads please...

cheers..
  • #27,560
  • May 26, 2014 2:53am May 26, 2014 2:53am
Hi,

Hope you all have a great weekend.

Posting a question here: have any one of you who is testing and have tested this strategy whether it can be use for long term trade this is days or weeks or even up to months?

Nicholas
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