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Attachments: 4 Hour Strategy (MACD)
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4 Hour Strategy (MACD)

Welshguy, I learnt a lot from your videos. I took a trade on GU based on the engulfing candle, bounce off trendline and TC on 4 hr chart.
Also on the 1hr, the hammer found support on 8 EMA followed by belt holding candle.

Thanks and correct me if I am wrong.

EDIT
Closed for 129 pips
Attached Images
Good trades, gentlements.
I took TC on EUR/USD at 1.3610
Already closed with +68pips
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THINK LIKE A FUNDAMENTALIST; TRADE LIKE A TECHNICIAN
Quoting welshguy2000
Morning everyone,

I have taken a long TC (trend continuation) on the close of the 7:00 (BST) candle. I managed to get a slightly better entry from a pull back to the 8EMA on the 1H chart:

1) Morning doji star formation on the 4H, which is a strong bullish signal.
2) Price found support off the 8 EMA.
3) A higher low has formed on the 1H.
4) Old resistance on the daily has now become support around 1.3550 / 1.3600.

Entry @ 1.3607
TP: 1.3723 (Just below 100% fib retracement line)
Sl: 1.3415

I will also be posting a video reviewing this trade...
closed this early at 1.3668 due to lack of momentum pushing past the 1.3670 level.

+ 61 pips

Should have taken the GBP ha good trading guys - I can tell you are starting to learn!! Now that was a high probability trade, you would have noticed there was hardly any pain, thats exactly what happens when you only take the correct signals.

I will be posting the video review later - subscribe to the channel to receive updates.

Cheers WG
Quoting Arslan
Hello,
nice trade, i also wanted to get into it but when i checked the 1hr chart i saw a bearish candel @ 0700 hrs, so avoided jumpin into it, can u also share you 1hr chart so i can compare it with mines.

regards
I'll go through this on the video - I can't see any bearish candle on my charts
audusd TC
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Quoting welshguy2000
Morning everyone,

I have taken a long TC (trend continuation) on the close of the 7:00 (BST) candle. I managed to get a slightly better entry from a pull back to the 8EMA on the 1H chart:

1) Morning doji star formation on the 4H, which is a strong bullish signal.
2) Price found support off the 8 EMA.
3) A higher low has formed on the 1H.
4) Old resistance on the daily has now become support around 1.3550 / 1.3600.

Entry @ 1.3607
TP: 1.3723 (Just below 100% fib retracement line)
Sl: 1.3415

I will also be posting a video reviewing this trade...
i also took this tc,,, but jumped a bit late then you,,,and my tp was prev. high 1.3668, gained 40 pips
Hello every one i have learned alot from this thread and i am adopting this method for my trading in future but i will trade 1h TF and i will post my trades so when i make a trade i will think about it cause i will have to reason it out in front of you guys and gurus so i will get good Responses & criticism.
Evening All,

I have just uploaded the video review of the TC i took on the EUR/USD :

Inserted Video


Please subscribe to the channel to receive regular updates.

Any questions / comments would be greatful

Cheers WG
Which Fib is correct, the first or second picture and why. Thanks for replies
Raymond
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Quoting Morelands
Which Fib is correct, the first or second picture and why. Thanks for replies
Raymond
That's how i see it.
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Where is Orange ? Have missed his analysis.

In his absence, I will give my opinion of EU.

The daily has hit major resistance and has bounced off it. Chances are that this is just a pullback and that price will have another go at resistance later.

On the 4 hour, EU has fallen through the trendline and pulled back to around the 21 EMA. I am expecting a TC or some other continuation signal to the downside after the pullback is over.
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Yesterday i spotted the formation and entered the trade.
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hi guys

kindly guides me to 4hr macd template page. Thanks a billion and may all of you being bless with abundance
Loving Life.............
Quoting aida1960
hi guys

kindly guides me to 4hr macd template page. Thanks a billion and may all of you being bless with abundance
Palmer's site : www.fxtradeblog.com is very useful
Afternoon all,

right i've received lots of questions / comments about my charts and system in general. The plan is to create a number of view lessons which explain the charts and the set ups.

The 1st lesson can be found here:

Inserted Video


More to come over the weekend. As usual - any questions / comments please let me know!

Cheers WG
Hi, WG,

Thanks for your effort to teach us. I have a question about engulfing, as you can see, today in my chart, both EUR and GBP show a kind of downside engulfing, however, EUR works out, GBP does not. You will trade this pattern or not, and why?

Thanks a lot,
Macalmd
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Quoting macalmd
Hi, WG,

Thanks for your effort to teach us. I have a question about engulfing, as you can see, today in my chart, both EUR and GBP show a kind of downside engulfing, however, EUR works out, GBP does not. You will trade this pattern or not, and why?

Thanks a lot,
Macalmd
Let’s help each other!
1’ the candles ur mentioned are hammer. All candle pattern you can find here: http://www.investopedia.com/terms/h/hammer.asp
2’ I think WG would not trade those 2 candles, beacuse they were still in consolidation period. If you review his videos carefuly, you’ll find most of trade he taken are Trend trade. WG often wait TC signals in 4h chart after candle-sticks go through support/resistence/price zone.
If i misunderstand something, please let me know.
Hello guys! Quite a bit of time has passed since I last posted here. In the meantime I kinda took a semi-break from forex for personal reasons (lack of time) and backtesting some new strategies (still this 4H one is the best, btw).

So anyway, this morning I was looking to taking a long trade on GU, but in the end decided not to because I didn't quite like the way 8 & 21 MAs were (and still are) tangled. I just want to hear (read) your take on this... would you have entered this trade?

Reasons for the trade would be:
1) Morning star followed by bullish candle on 4H
2) PA bounced off of trendline and 55 EMA (this MA was introduced by Welshguy) on 4H
3) Price has made a higher low on 4H
4) Price broke through 23.6 fib level.

Would've entered on the close of that signal candle, marked by the vertical dotted line with the target being in the area of 1.5350.
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Quoting Marubozu
Hello guys! Quite a bit of time has passed since I last posted here. In the meantime I kinda took a semi-break from forex for personal reasons (lack of time) and backtesting some new strategies (still this 4H one is the best, btw).

So anyway, this morning I was looking to taking a long trade on GU, but in the end decided not to because I didn't quite like the way 8 & 21 MAs were (and still are) tangled. I just want to hear (read) your take on this... would you have entered this trade?

Reasons for the trade would be:
1) Morning star followed...
Hi Marubozu,

I had to look hard to find the vertical dotted line you meant but IMHO it would have been a very good entry and good analysis as well.
Yeah, the dotted grey line is actually the weekly separator.

Indeed, so far it looks like it would've been a good trade, but I guess it's better to sit on the fence wishing you were in, than be in and wishing you were out. Oh well, plenty of opportunities to come...
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