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4 Hour Strategy (MACD)

  • #28,361
  • Sep 28, 2014 2:40pm Sep 28, 2014 2:40pm
RESULT OF TRADE: 17th September,2014.
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  • #28,362
  • Edited 5:33pm Sep 29, 2014 5:00pm | Edited 5:33pm

Market Rhythm-OUR MOTTO


Trading from the Google of Phillip Nel


TRADE: EUR/JPY: 29th September 2014 (11:00 Candle Close)


A trade I took at 11:00 candle close (1hour early entry technique) with respect to the RULES OF RHYTHM LINES STRATEGY.

Price went in my favor for +27 pips. But I decided not to take profit as I am anticipating for a break to the south. So I am still in the trade hoping to see further move to the south, that is, I am expecting a breakout trade to the south.

Although, there is possibility for price to go north (long), but based on my analysis below, as indicated in my charts itself, I am still hoping that the potential for price to go south (short) is higher that the later.

So I have decided to let my position be. And hopefully my anticipation can happen.

Stop loss = 23 pips for each of the two positions taken (23+23=46pips)

First take profit = 55pips

Second take profit = 115pips

There was a lot of thinking how and why I took this trade. There are little more thinking why after many hours till now, I still decided to let my position be.

I have tried to summarize mainly the 2nd part of the thinking on the chart itself. I think it should serve for all purpose...

But I can as well answer any question. Also would like to see comments from anyone...of course, you can advice me on what to do next...

Thanks!

Notice: Thanks to God: Forex factory has resolved the problem. As you can see, I am able to edit my posts, I can now see and use all the fonts...tool bar and tools.

God Bless Phillip!

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  • #28,363
  • Sep 30, 2014 12:57am Sep 30, 2014 12:57am
Quoting naustingfx
Market Rhythm-OUR MOTTO Trading from the Google of Phillip Nel TRADE: EUR/JPY: 29th September 2014 (11:00 Candle Close) A trade I took at 11:00 candle close (1hour early entry technique) with respect to the RULES OF RHYTHM LINES STRATEGY. Price went in my favor for +27 pips. But I decided not to take profit as I am anticipating for a break to the south. So I am still in the trade hoping to see further move to the south, that is, I am expecting a breakout trade to the south. Although, there is possibility for price to go north (long), but based on...

When you trade the H1 and respecting the H4 do you try to trade the top of a RT on the H1 or ignore the macd and just follow it on the H4.

I see your macd on the H1 was above zero when you pulled the trigger.
  • #28,364
  • Sep 30, 2014 9:59am Sep 30, 2014 9:59am
Is there a post that explains how Rhythm Lines are drawn?
  • #28,365
  • Sep 30, 2014 10:08am Sep 30, 2014 10:08am
Hi friends, please post the latest macd for me, thanks,
  • #28,366
  • Sep 30, 2014 5:33pm Sep 30, 2014 5:33pm
TRADE RESULT: EUR/JPY: 29th and 30th September 2014

Update 1: First take profit was hit (65pips) for a mini lot
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  • #28,367
  • Sep 30, 2014 5:45pm Sep 30, 2014 5:45pm
Unleashing The Power of Rhythm Lines
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  • #28,368
  • Sep 30, 2014 7:04pm Sep 30, 2014 7:04pm
ADDITIONAL REASON FOR THE SHORT TRADE AND ENTRY OPTION 2:


1. There are 3 lower highs - X Y Z


2. The 3 little sisters setup with X Y Z


3. We are in a bearish mood: price below the 89 and 200sma


4. The SPEED of the Market was on the 89sma (the blue moving average)


4. Price broke the purple trend line, pulled back into it and to the trend line-point Z (resistance) and moving away with a bearish engulfing candle and a TC on the MACD...


SEE MY CHART FOR MORE DETAILS.


I Believe my posts are self explanatory as no much questions and comments to my postings so far... Thanks!


Assuming you missed the Flight yesterday (EUR/JPY:29th September 2014 @ 11:00 candle close), just today @ same time (11:00 candle close: 30th September 2014) there was another opportunity to board the same Flight I was in yesterday....See my chart below (I have labelled it as entry option 2) for details.


Thanks!
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  • #28,369
  • Sep 30, 2014 7:15pm Sep 30, 2014 7:15pm
Quoting Mathus
Is there a post that explains how Rhythm Lines are drawn?
There was detailed explanation from Phillip Nel himself on how to draw Rhythm Lines. You can find it precisely from December 2013 to January 2014 period.It is at PAGE 1326 in this thread. Then continue from there to current posts and you will find a lot of very useful information to help you.Thanks!
  • #28,370
  • Sep 30, 2014 7:19pm Sep 30, 2014 7:19pm
Quoting george4forex
Hi friends, please post the latest macd for me, thanks,
I am not using the latest MACD, I am using the original or initial one that started with this thread. But I know the latest MACD is somewhere in this thread...Hopefully someone will come to you aid to give you a link to find it or post it directly.
  • #28,371
  • Sep 30, 2014 8:14pm Sep 30, 2014 8:14pm
Quoting yaakruay
{quote} When you trade the H1 and respecting the H4 do you try to trade the top of a RT on the H1 or ignore the macd and just follow it on the H4. I see your macd on the H1 was above zero when you pulled the trigger.
Answer: Part 1: When I am taking a trade on the 1Hour respecting the 4Hour, what I mainly look at on the 1Hour chart is price action and not MACD. But there are as well some cases where I look at MACD on the 1Hour chart; such MACD patterns like MACD Divergence, TC, Head and Shoulders, Double and Triple tops, etc. I can't remember if I have ever taken a 1Hour early entry trade considering RT and RB on MACD.Part 2: Sorry I did not show it, but see it in the chart below: It was one of the setups I mentioned above (MACD Divergence) that served as a trigger for the trade in the 1Hour chart. That is, after I was through with my analysis on the 4Hour chart, I looked at the 1Hour time frame and saw a nice MACD Divergence setup at that very point...I think I have already executed the trade on the 4HOUR because I was very satisfied with my 4Hour analysis before I saw the whole setup clearly on the 1Hour. But when I observed the 1Hour I was happy with how the divergence in the 1Hour is supporting my anticipation on the 4Hour.NOTICE: Actually I don't really consider the MACD anymore in my trading as I have learned over the years to trade Market Rhythm setups only. But when I read posts here, I discover that many people seem to depend so much on it, such that, if you put up a post here without laying emphasis on how MACD was part of your decision to take the trade, some traders may not really get attracted...In as much as I don't really use the MACD, there are some MACD setups that attract me when I see them on my chart, if the particular chart I am using had MACD on it. They are as follows - MACD Divergence, Double and Triple tops of MACD, Head and Shoulders (sHs) on MACD, TC on MACDIt has been a long time now, I do not consider RT (Round TOP) and RB (Round Bottom) setup on MACD. One of the reasons for this is because I discovered that the RT and RB do not make much sense when when the market is in a strong up trend...such that if you do not know how to use them you will get hurt a lot of times.Thanks!
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  • #28,372
  • Sep 30, 2014 8:30pm Sep 30, 2014 8:30pm
Sorry for how clustered my writing is in the post above. I tried to edit, but I was not allowed to do so.

I hope you can be able to read the post above and understand it.

Thanks!
  • #28,373
  • Sep 30, 2014 8:41pm Sep 30, 2014 8:41pm
There are some insight may like to give later about the special relationship between the 89sma on the 1hour chart and the 21ema on the 4Hour chart.


I saw some traders here discussing it already and they are trying to relate it with some sort of wave principle or something...


I have shown some nice information on the topic in the past...


I will like to show more excellent setups that can be taken successfully with the relationship or confluence between those two moving averages (89sma on 1Hour chart and 21ema on 4Hour chart)... if I have all the time to make posts...



When it sets up, you do not need to even draw any Rhythm line, you just pull the trigger...I found out that whenever it sets up, many times it is always in confluence with Market Rhythm...


But meanwhile I can still answer questions on it. If there are traders who still find delight in it. Questions helps me to know what people need, so that I can go straight to the point to deliver answers as I do not have all the time to make a lot of posts...


Happy trading week and welcome to the month of October!


It is well!
  • #28,374
  • Sep 30, 2014 10:38pm Sep 30, 2014 10:38pm
Quoting Mathus
Is there a post that explains how Rhythm Lines are drawn?
Here are two links to download all the videos where Phillip explains Rhythm Lines and shorter TF entries. I recommend you remove the MACD from your charts and practice it on demo until you make money. Good Luck. I'm still in practicing mode but getting there. And it works!!


http://www.datafilehost.com/d/6d9f1c8c

http://www.datafilehost.com/d/e719bbc4
  • #28,375
  • Sep 30, 2014 10:46pm Sep 30, 2014 10:46pm
About AUDUSD - This pair has been going downward for 4 weeks or so; and it's about 500pips away from the 21ema on the daily chart. Is there a way to analysis if this pair still has any potential to sell? Has this pair hit the bottom?
  • #28,376
  • Oct 1, 2014 1:31am Oct 1, 2014 1:31am
Quoting naustingfx
There are some insight may like to give later about the special relationship between the 89sma on the 1hour chart and the 21ema on the 4Hour chart. I saw some traders here discussing it already and they are trying to relate it with some sort of wave principle or something... I have shown some nice information on the topic in the past... I will like to show more excellent setups that can be taken successfully with the relationship or confluence between those two moving averages (89sma on 1Hour chart and 21ema on 4Hour chart)... if I have all the...

I like your charts and answers...i am comfortable with looking at your charts and reading your posts...

I get and understand that alot of the analysis you do is confirmed in your head just by looking at the charts and afterwards you can fill in the gaps...drawing divergence on macd etc.....

Keep posting charts....thanks for the information....

I never looked at wave analysis until the poster jonnypip was showing interesting successful trades with some abc...wave analysis.... what i learnt from his posts...was that when there is a large move on the charts/macd.... there will be (not guaranteed) but usually another move in the same direction after a little rest/retrace..

I always took this as a change in trend coming and would always counter trend and lose! boo hiss... Now i can get in on the last move wave 3 to 5.... it has worked for me. If anyone is interested it works great within this system.... You may not get the big moves but you will make pips which then encourages you to understand more and learn faster.

good luck...
  • #28,377
  • Oct 1, 2014 1:48am Oct 1, 2014 1:48am
Quoting nic73
About AUDUSD - This pair has been going downward for 4 weeks or so; and it's about 500pips away from the 21ema on the daily chart. Is there a way to analysis if this pair still has any potential to sell? Has this pair hit the bottom?


0.8680 is the next important resistance..

Break that and it will move down...but there could be a bounce from here...could you call that a suckers rally before another move down...who knows..

Put your trendlines on the H4 see the channel....trade from the top/bottom or wait for a break out..

Follow the macd...it is moving up from the bottom to zero..

I would fancy a short trade..if it hit the top trendline and macd was on zero....

I wont trade it...i got a small profit last month and i am still basking in that glory...i am not ready to give it all back! hahaha By the way this was on my 2 accounts.... £1 pip account and my 10pence per pip.... i made enough for some fish and chips and a pint.....

I still need to go to my full time job!
  • #28,378
  • Oct 1, 2014 5:58am Oct 1, 2014 5:58am
Quoting yaakruay
{quote} 0.8680 is the next important resistance.. Break that and it will move down...but there could be a bounce from here...could you call that a suckers rally before another move down...who knows.. Put your trendlines on the H4 see the channel....trade from the top/bottom or wait for a break out.. Follow the macd...it is moving up from the bottom to zero.. I would fancy a short trade..if it hit the top trendline and macd was on zero.... I wont trade it...i got a small profit last month and i am still basking in that glory...i am not ready to give...
Thanks Richard. How did you get 0.8680?
Does it matter that price is 500 pips away from 21ema on Daily?
At least you still get to stay in your full time job. Not me though.
  • #28,379
  • Oct 1, 2014 8:24am Oct 1, 2014 8:24am
MARKET RHYTHM - OUR MOTTO!


Answering nic73 (I have tried for many hours now to post this reply, but it seemed difficult, still having issue with my posting)


Hi brother: I think my post below will give you an insight on the overall situation of events so that you either sit on the side line or go away to come back later to pull the trigger when the time is right to do that.


I have added yesterdays trade to this post... for me, it is a comprehensive chart display to show you the bigger picture of events so that you can view things and analyze the situation of the market from a broader perspective and attitude...


For me, I think the last run to the south is as indicated by the short trade I have posted below(this happened yesterday-30th Sept. 2014)... This is because we are now at a 3years 6months price low. A very important level or situation to consider...it is a warning for those who still intends to go short...


Yes one may still have the reasons to go short, but for me, I am sitting on the side line to watch how things develop...


Also at that very price low (6months 3years low = 0.86630), the 4Hour chart has shown a unique candle pattern called the "the rail-way" or "rail-road" track, a bearish one indeed which as well indicate a possible reversal....


I believe the charts below will go a long way to put things clear for you...But more questions and comments are welcomed...


I want to see how much I can help people here before a get back to other activities and may not get all the time as I have now to post.


Thanks!
  • #28,380
  • Oct 1, 2014 8:26am Oct 1, 2014 8:26am
Chart for the post above
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