yes, i agree with you. fakeys are bad and S/R lines are subjective. the down candle of yesterday could only mean a small correction as overall in the past few weeks it was going up. this is indeed a counter trend trade if it happened.

Simple, Non-subjective, Consistent, Effective

good morning nasko, i normally don't trade EURUSD, but i think yesterday down candle is very interesting, it closed exactly at my weekly support 1.3685. i am looking for a short entry if bearish 4H engulfing candle formed.

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no momentum, although the high of the 2nd 4H of the day slightly overshoot the 1st 4H by less than a pip, trade didn't trigger for 5 pips buffer. 2nd 4H down candle invalidated the order. see if 3rd 4H closed engulfing 2nd 4H. no hurry rushing into ...

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the 4H long wicks both up and down made me uncomfortable taking that trade. anyway, the high of the 4H was not broken, thus no trade at all. what is interesting now is the first 4H closed in Asian session. 2 bar engulfing. i will take this one.

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very nice post, PoundTrader.

Currency Trading Rules

GBPUSD trade yesterday only to find it died at BE after achieving 1R+. 1.6724 daily resistance was well respected. 1.6675 entry with 35 pips SL. expecting more consolidations to come before the market continues to move in either direction. now i am ...

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well said, well said, Tradista. yes, there is no short cut. this is a profession, it takes time to master it, and it has to be done by the trader itself, any secondary information fed by others are pretty useless, or even worse, misleading. screen ...

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i think Ap3's strategy works and it works well. it just doesn't matter, the believers will believe, the non-believers will leave, simple like that. in FF, the jewels are buried deep, people search for the holy grail indicators or strategies rather ...

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GBPUSD 4h does close up. what do you think? 1.6690 entry with a 90 pips stop loss

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GBPUSD, yesterday still closed above 1.6643, GBP is really tough nut. LOL, not sure if a 4H bullish engulfing will form in 2 hours time. i will take this trade if it happened once the high of the current 4H bar is broken. EURJPY, not very keen ...

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nope, no trade for me

Simple, Non-subjective, Consistent, Effective

GBP/USD is still holding above the daily support line 1.6643 which happens also to be a swing point. still looking for a prominent 4h entry to long.

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hey forex_idiot, you are far from that word in your nick i am sure. good trade by the way. as the other poster already mentioned, i felt sorry posting my own strategy in Ap3's thread even though they are very similar. nevertheless, i apologize if i ...

Simple, Non-subjective, Consistent, Effective

my EUR/JPY died at BE yesterday, was trying a m15 entry on that one. haven't found any 4H engulfing today for this pair. GBP/USD and gold also don't give me anything for the moment.

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ya. i think it's my bad to post my tweaks. let's stick to Ap3's rules here.

Simple, Non-subjective, Consistent, Effective

Thanks nasko! ya i trade 4H. the green dashed line is drawn on the daily bullish engulfing candle. subsequent days are separated by grey dashed lines, 6x 4H candles in between 2 lines. 4H bullish engulfing for entry.

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every time i trade 1h, i got screwed, LOL. maybe because my time zone is in Asia, who knows. NZD/JPY daily is still up, price is trapped in the daily range, no close below 84.42. weekly shows it briefly tapped the weekly upper boundary. ...

Simple, Non-subjective, Consistent, Effective

very likely next week GBP/USD and gold will surge higher. i am guessing.

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very likely next week GBP/USD, gold will roar!

H4 Power

hi nasko, major problem i have is my broker, it doesn't offer very good spread for a lot of currency pairs, so i only look at AUD/USD, USD/JPY, EUR/USD, EUR/JPY and GBP/USD most of the time, occasionally EUR/NZD, my broker offers inverse version of ...

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