The Phillip's method is awesome, the best I ever read at FX newsgroups. But there is a question arises: what time serves better as a start of the day? I mean the time when the first H4 candle starts. This choice is crucial because it might affect the whole picture. For example I have two FX accounts and two trading platforms. The first is Visual Trader that use GMT-5 (EST) time zone, and the second is MT4 that implements GMT. As you may see there were a bearish candle yesterday before rally and that may by judged as a a round top pattern in progress.
Who knows, maybe a GMT+2 is not the best time zone for all the cases, may be it must be adjusted to some other value that is either not a constant.
Using the ready H4 data feed from any br0ker provides no flexibility. What if to use a customizable charting software which allow to move the start of the day to any value in GMT±12 time range?
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Who knows, maybe a GMT+2 is not the best time zone for all the cases, may be it must be adjusted to some other value that is either not a constant.
Using the ready H4 data feed from any br0ker provides no flexibility. What if to use a customizable charting software which allow to move the start of the day to any value in GMT±12 time range?
Images removed by Moderator as they exceeded 600x600 size and forced side to side scrolling on subsequent posts. Please repost your images no larger than 600x600.
Ben