Advanced system #8 (4 CANDLES STRATEGY)
Submitted by User on December 23, 2007 - 05:22.
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.
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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
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
James,
could you use charts to explain your strategy.
thanks,
Egudu.
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