FREE FOREX STRATEGIES

Advanced system #8 (4 CANDLES STRATEGY)

The following strategy was submitted by James Ayetemimowa.
Thank you, James, for your great contribution!

CURRENCY PAIR - GBP/JPY

4 CANDLES STRATEGY
- Draw horizontal lines on the highiest high and the lowest low of the first Four candles of the day.
- Trade the Valid Breakout of the eigther lines.
- Check Stochastic Slow on 4hours Time frame.
- Trade the direction of the 4hours stoch with higher quantity
- Trade direction against 4hours Stoch with lesser Quantity
- Target the first 50-100pips
- Your stop loss should be the other side of the tunnel
- If your stop loss is hit, set the pending order again.
- Close all pending orders by 5 hours to close of the day.

Forex strategy

GOLD
- Plot the Pivot first
- Check the relationship between the pivot and the opening price
- Place Stop Buy 200pips above previous day close and Stop Sell 200pips below Previous day close
- Plot the -+200 above and target the next 200pips or next pivot, whichever is lesser
- A day where the opening price is at the middle of a pivot and a middle pivot, please don’t trade the -+200 consider NO TRADE or wait for price to hit middle of pivot or pivot then apply -+200 from that point.
- Note and Note, any of such potential trade after you must have made your 200pips, you must always lock profit to 100pips b4 you can let it run.

James Ayetemimowa (femjam78 at yahoo.com)

James,
could you use charts to explain your strategy.
thanks,
Egudu.

hello,
Thanks for sharing such system,would you tell us the timeframe maybe 1 hour? How to exit position etc
More help needed
Regards,

Ele

For the Four candles strategies:

- Use hourly time frame
- I am sure you know how to enter a valid breakout
- At a break of the horizontal line, move to lower time frame like 5min TF
- then let the whole body of the 5min candle be outside the line.
- for long, let the 5min candle close outside the upper horizontal line wait for a pullback such that the next 5min candle should make the upper horizontal line a support. That is a signal of a valid breakout.
- It's magic for GJ and other J pairs.
- Please back test to see the trick.
- A day where u have whipsaw, may be NO TRADE, but in the average u will have winnings

I will plot a chart for GJ and GOld and send here, still trying to figure out how to send those charts

Great strategy i must confess, it really worked for me.

Keep it up james!

kingx05

James, try uploading images to any free file hosting sites and post a comment with a link; we'll publish it here. Or simply reply to my email and attach all files needed.

Regards,
Edward.

Thank you,James.
I am still wondering the first four hours of the day, do you mean GMT 0-4 or 0--4 A.M of Newyork time?
Can I ignore stochastics,sometimes i found it is useless.
Hope to get more instruction from you,buddy!
Ele

Ele,

Any broker u may be using, move to hourly chart and the first four candles of the day is the trick. The first 4 candles when a new day candle forms is the trick.

Okay.