Advanced system #8 (4 CANDLES STRATEGY)

These are abbr. for GBPJPY and xxx/JPY pairs. ("xxx" means "any")

The line would be the horizontal line at the highest high (and another one at the lowest low) of the first 4 candles of the day. You should draw and be able to see this line across all time frames, including 5 min, where your trigger would be the first 5 min candle to form and closed outside that horizontal line.

Regards,
Edward

What is GJ and J pair?
""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.""

outside of what line???

Hi Fee Dee,

You take stochastic indicator (14, 3, 3) or (5, 3, 3) and basically look at its lines: both lines head up - your preferred trading direction will be to the upside (Buy); both lines look down - you'll be looking to sell.

Now, as you trade the breakout:

"Trade the direction of the 4hours stoch with higher quantity" means:

if the breakout is in the same direction as Stoch lines, you can open a larger position.

"Trade direction against 4hours Stoch with lesser Quantity" means:

if, for example, the breakout is to the downside, but Stoch is heading upwards, you put less money at risk and open a smaller position.

Best regards,
Edward

It may sound silly but I don't get the point of these:

- Trade the direction of the 4hours stoch with higher quantity
- Trade direction against 4hours Stoch with lesser Quantity

Could you put some light on it?
Fee Dee

It is 00:00 01:00 02:00 03:00.

Regards,
Edward

very good strategie, busy testing it and so far great results, just one question and i think it has been asked but im gona ask it again. do u use the 00:00 01:00 02:00 03:00 0r is it the 01:00 -04:00?

thanks

great strategy,it realy works guys,i everyday make lots of money with this strategy,the strategy gives the best entry and all it needs to find when you have to get exit.

good luck
caspianous
IRI

You can take 4 candles starting from either:
00:00 GMT (midnight candle to 4 am) or
00:00 GMT+2 (midnight candle to 4 am) - this is the actual time frame James used in for his screenshot.
..and then you trade a breakout.
Hope it helps.

Thomas

hi,

When you said firt 4 hour. Are you refering, 8am GMT UK Market begins, you take the candle from 8am,9am,10am,11am and then check the highest and the lowest, on these 4 candles. And then wait for a breakout?

Thank you, Kenza
I'm really glad you found your favorite strategy. Happy trading!

Regards,
Edward

Hi Edward,

I am speechless with this strategy, I love it.
I use it with bolinger band parameters 21.

Regards,
Kenza.

Here's the Indicators & Templates maybe it can be usefull for us especially who used Alpari-US Broker Metatrader.4 (because the Templates base the Alpari US TimeZona), here it is :

Your Download Link :

GBPJPY 4 Candle BREAKOUT H1.rar

Kind Regards;

Manus168

I believe it should be the same 50-100 pips target for both pairs.
50-100 pips is a reasonable amount, shooting for more can be pricy.

What is the parameter you suggested for GBP/JPY & GOLD (XAU/USD) ?

Regards;

Manus168

Let's take a Buy order:
After a channel is identified we set a first pending order.
Once it is hit on the breakout of the channel, we look for a profit of 50-100 pips, at the same time our stop loss is set on below the channel.

If price returns inside the channel soon after the breakout and then exits down, it is going to hit our stop. In this case, according to strategy rules, we reset our Buy order again on the breakout of a channel, e.g. above the channel.

Regards,
Edward