Simple H4 Mobile Trading System

EURUSD on the Daily, took this one 2 days ago. Not looking too good.

CHFJPY

So far, the trading gods have not been very kind to me.

EURAUD

AUDUSD

EURAUD *update

AUDUSD *update

AUDCAD

USDHKD ; D1

Found an article on reliability of engulfing candles: https://forexop.com/strategy/engulfing-candle-trade/

Not sure about reliability of article itself. Thoughts?

This one might be more helpful: https://www.tradeciety.com/how-to-tr...action-signal/

Thanks for the many updates BataviaTrade! Are there some stats of your account that you can show? I am wondering if you are making constant money with this strategy, because I haven´t at all and gave up on it as it did not make money for me.

Hi GT,
No prob. No stats, I am paper trading with Tradingview, great platform but there seems to be no way to produce stats in readable format like date-time-pair-price-buy/sell-profit/loss. Anyway, mostly losses so far so there's nothing to show off there haha.

USDHKD *update

Hey folks,
been following this thread for some time and doing some tests. Here's what I found.

1. The engulfing bar pattern in its unadulterated form was originally developed for stock market. What it entails is the rule where the engulfing candle body overlaps the previous candle's body, which means price gap between the previous close and the engulfing open. However, since the forex market is 24/5, gaps are a rare thing and occur on Mondays mostly, and most of us wisely avoid trading Monday opening.
Therefore, when it comes to forex charts, we should be interested in engulfing bars whose range overlap the previous candle's range. The engulfing body should be sufficiently large though.

2. 4H charts vary across different brokers due to their GMT offset. It's okay for other timeframes, but 4H and 1D suffer badly. FXCM, Blueberry seems fine. Alpari can be safely traded during summer time because it's CET and CET clock-changes to daylight saving time for the winter months. It's a headache, really.

3. I've performed some tests from 2010 (Alpari server) and found the most reliable pair for this strategy being EURUSD. I was astonished to say the least, I expected something like the cable to be more profitable (in fact, gbpusd is also good but not so much as eurusd). I applied some filters of course - bar size, body/range ratio, MA period etc.

4. MA is all good and nice for automated trading, but when it comes to manual trading you'll be better off trading with respect to support and resistance. Don't buy into resistance and don't sell into support. Never. Never even if the MA is OK with it. Nearly all the lost trades the EA had tripped over while testing was trading without respect to the S&R. Use MA for reference only. Candle patterns don't coexist with MA's peacefully.

5. Add the standard Volumes indicator (Indicators > Volumes > Volumes). It shows growing volume in green, and declining in red. Trade when the volume rises.

according to https://www.forexfactory.com/showthread.php?t=863699

you can have engulf alert from
If you have telegram. You can join this room created by one of our fellow traders here as well where they send notifications every time there's an engulfing candle forming so you can be aware right away of a possible trade setup...

https://t.me/joinchat/Ac3F5hWfPkZx9qYWIAotuw

Credits to: BeaterTrader for his efforts...

I actually was subscribed for a while, it does indeed sends signals, including many fake ones. Also, I was unable to validate the signals as it is unclear what time zone the signals are in; meaning, when I checked my charts the moment I received a signal, there was not a single engulfing pattern on my chart for that pair, in my time zone. So those signals are not of much use.

Do you have any luck with those Beater Trader signals so far?

EURCAD

EURCHF late post

NZDCAD


EURNZD