4 Hour Strategy (MACD)

Still checking charts but not a lot of free time for posting etc...

I like your questions and posting a chart each time. Its a win win situation as I learn more each time i read them.

Keep asking the same questions, i don't mind its good to reinforce knowledge.

http://www.forexfactory.com/attachme...1&d=1402888060

For me this is a no brainer... You either take on the CT or you wait..Personally, I now wait (its my real money) if on demo i would take the CT to get a feel of it.

Price is too far away from the 8/21 for a continuation, and that explosive bullish candle will exhaust the bulls for a while, here comes the sideways action.

Now, we either wait for price to hit the 8/21 and macd to turn green and show a TC or take the CT.

I wouldn't be surprised for price to fall back to the 1.6900 support area

Posted this yesterday (Monday) and was hoping EURUSD would go north. It did just that and at the close of the 4hr, there was MACD signal and confirmation. I pulled the trigger and sold. Made a loss of 30pips (2nd chart). Have a look and please comment. Thank you all and have a wonderful time watching football and beer-ing!! Cheers.

Chart 1: What I expected for EURUSD to be doing...


Chart 2: Closed trade.... a lost

For your kind comments and insight. Thanks.

Thanks a zillion. You words are great encouragement to me. And you being supportive give me hope as I carry on with trading.

NZDUSD ...watching how this pair is going to carry on..... bounce away from 21ema to go north or continue its south-ward move or simply stall?

weekly strong res. at this point, dont now.

could somebody add a push notification to the MACD indicator?

GBPUSD could there be a triangle breakout soon? Feedback anyone?

What is a push indicator? can you explain

http://www.forexfactory.com/attachme...1&d=1402990446

I know you know the problem and the answer already but its good to review for all of us.


1) There is divergence on the macd and price.

Have a look at the move down before, macd was coming from high and moving down...when you took your sell trade macd had been moving up but price was doing nothing.

Chop chop this is called at least in my head...where price just moves up and down in a 100 pip square...no traders take money here except scalping on the edge.

You are better off moving away from the Euro until it sorts its direction out, waiting for a BPM.. from the 89 or the support line...

cheers...

its an alert, like pop up, email, etc., only sent from the desktop mt4 to the mobile mt4 as a push message.

The more I look at the charts, the more I am confused and find it so hard to trade! What should I do.

I don't think so...

Daily is a double top...
it took a huge bullish candle to get there..

price is exhausted and waiting for retrace.. IMHO...

It needs a daily close above the resistance.

If you right click on the macd v103 (this is the one i use)

go to properties.

Then Inputs.

You can change the alerts there to email or pop up...i could never get the email to work and figured out i was better watching the charts on my android app.

good luck

Do you remember the trade in the AUDNZD?

The blue ma is the 21ema. Price bounce on it then moved away. Then at 3, after bouncing, price crossed the 21ema, pulled back to it( I sold it there), then price just fall(strong bar) just below the yellow support line, went right through the89 (in purple), so now the price just went to 200(in olive) . This is about were I closed the trade. The expectation, now was that price should get back to the 8ema, still in a fast market.

Price just did that: pulled back to the 8, at the move away (vertical yellow doted line) where I got back into another trade there, at the close of that candle, risky trade, price just got stick to the 8 right down to where the macd showed a divergence, I closed the trade at the SL which I kept closed to the price.
Now what should I expect from there?
Price crossed the 8, and should go toward the 21ema (just did it)

Now what should I expect from there?
2 possibilities: bouncing on the 21, making a TC while going back down or price would cross the 21m pull back to it, then moving toward the 200(olive).

Some traders with iron nerves would probably have taken only one trade: from the top and would be still in the trade!

I liked those trades because they are clear, the rhythm is very smooth and kind of peacefull. I just which they were all like that! I can see clearly the bounces , the pull backs and the move away.
But it is not all the time the case! I took trade in EURUSD , made about 10 pips and got hit by my SL. some other will be 40 pips down the drain!

But let’s get back to AUDNZD: the last 2 candles still show a tail pushing price down, maybe then price will just continue down, but will see…patience…

But when a chart is getting me confused about a clear direction, sometime I get trapped in a bad trade. But I pay attention to not get involved in it.

Thanks for the charts and write up, it's always interesting to read and learn...thank you

Thank you Yvon for your insight. Very helpful information. But I have questions and they are in the chart below, please refer and please help to clear my thought especially question 2. Many times, I am threatened by TL and price rejecting an area that has been resistance / ranging for a period of time (like in the case of question 2). So I tried many trades - pulled the trigger at around TL area thinking it is going to break and move on but it didn't and I got killed. Then when I decided not to pull the trigger, the market just break the TL (resistance) and carry on moving all the way. So that got me worried because I can't seem to get it right.

Can you post more charts similar this, please. Thank you.

Hi nic,
In response to:
Q1- the 3 major bounces (from the 21ema, in blue) are making a Head and Shoulders formation. Then I was expecting a break from the HS support line(yellow).
I was expecting this breakout while the price broke the 21ema, then pulled back to it, and then moves away down. The candle where I took the trade, (closed to the low of that candle) showed a down pressure caused by the tail, showing further possible weakness. The 8ema is now below the 21ema and the gap between them started widening.

Q2-

The HS formation is recognized for been a sign of a trend change, I kept that in mind. The macd also expressed that possibility by showing a negative divergence, supporting the possibility of a trend change.
Those 3 bars, indeed showed a push up or continuation of the support until the decisive candle(the entry candle)- when you say that “won’t stop you”---my answer is “NO” ---the reason is that those candles just belong to the HS formation, still respecting the support( or neckline) of that HS formation. That’s part or reading the market, part of the rhythm.
Q3-
But those candles were already below the 21ema, so the next thing I was expecting was a “show” of a pull back and move away down, that candle represented that move away. ---always read the history of market, the rhythm. Those candles were just being “part” of that possible “move away” rhythm. I didn’t read only those 3 candles, I read the story behind it.---when I see a Round TOP, well, I just expect the price to go down, here I can see 3 RT!
A precious information about a HS is that there is a possibility to have a projected target that price would possibly covers, in this case it is shown as a doted green vertical line that you can see drawn from the top of bounce “2”( the Head). And as you can see, at the break of that “neckline” a projected doted line is drawn.
Indeed the chart shows that the pair reached that projection target, so that was about my first trade target.---But I was still thinking bearish, even after closing that trade, waiting for a pull back to the nearest moving average which was the 8ema .What would the market do from that level? Well, my though is that I wasn’t the only one that took profit at that point, the numerous bears that got out of the market changed slightly the course by making a light pull back up. I would get in another short trade only after a demonstration of a continuation of the downtrend( or more bears involved)
Q3:
It came when the price hit the 8ema and went down again, my second trade. Yes I took it from a TC( from the 8ema, more risky) from a small breakout formation. Again, here that trade was just engage on the 8ema, but don’t forget that there is a large gap between the 8 and the 21ema and the 21ema is still in a down trend, the decision ma ( the 21ema) was too far away (my view here) for the price to reach it. The market was just too much in a hurry after that congestion to go down, to not go to the 21ema, too fast.(my view).

Surely I got tight with the SL knowing that usually price don’t stand too much time hanging on the 8ema since it is a fast market.- I got out from a small bounce away from a trend line just below there for a gain of about 60 pips there.

On my chart, look at the “strong bar”, it just means (my view again here!) that a lot of traders knew in “advance” or “anticipated” what was going to happen very very soon! That is why it is a strong bar there!(my view)---It was the breakout of that neckline supporting the HS formation or if you prefer after having 3 consecutives RT standing on an uptrend support! Sure if I don’t see the history, it is very hard to take decision; the best is to stay away until it gets less confusing. Or you can take an observation of the daily chart to see where that beast could go, this could help, it is a kind of “zoom out” so to speak, in order to see the forest and being able to see where “stands” the trees I am interested into the 4hrs chart.-
Any questions welcome,

Hi everyone, I am looking for the MACD v102 in mq5 version, can anyone share it here?

This is a great system, I can't thank you enough Mr Phillip Nel and many members contributed to the thread.