4H Box Breakout

Its actually very simple. Go to fxdd website and open a demo account. Leave it running in the background if thats not the broker you use. Open the gbpjpy chart on a 4 hour timeframe on your fxdd mt4 platform. Press the control and y key at the sametime. The candle with the vertical line running through it is the candle that ace's system uses.

Read post #1846 at the top of the previous page. Ace states that the candle closed one hour ago!

that is the candle that I use as well, but to clarify its not the same as the one ace uses and the system is based on.

lol, the timing rather confusing, anyway just stick to FDXX and trade.

trigger short on both e/j and g/j. gd luck

Put that on your chart. Might help you guys. You`ll see that gmt 01:00 was more than an hour ago. BTW, trade not triggered yet. It should have been trigger on MT4 but wasn't on my Oanda broker.

Thank you andy
The 00.00 has not closed yet. So it is still fluctuating. I can only get a reading after this 00.00 4hour candle closses

Just a word of caution this week.
G/J and E/J for are very close to their Monthly Pivot on short side. Don't be surprised if prices bounces upward after touching Monthly Pivot.
Last week week of July E/J bounces up from the same price range where Monthly Pivot is for this month.

Just keep an eye on the price action

Cheers
Garfield.

hello Everyone,

I have been a regular contributor of the 4H MACD forum and came across this thread few days ago and have had a chance to go over the pages and the posts and I wanted to give my opinion and maybe some advice if I could.

You see, I don't consider myself a veteran or a professional, I would rather even call myself a newbie but I have been studying the forex market and its characteristics for a while now and by no means I am a millionaire or a specialist. What I am is a realist, I am a learner, a student and while going through the posts which I found interesting and that is all thanks to Ace for putting up this system if you want to call it that. As I was going through the posts, I could not help it but find so many faces signing on and asking the same questions over and over again without even going through the whole thread. This is not just happening on this forum but may forums as many want to get a holy grail system where it tells them to buy here and sell here and become a millionaire. Well life does not work like that, I have yet to meet someone that sat home and pressed a button and became a millionaire. The forex market seems complicated but we don't have to make it complicated but if you are in the forex market and just looking for someone to spoon feed you when to buy and when to sell and you have no idea why you are buying or selling, then you are going to lose that money and my suggestion is for you to invest that money in a stock where your returns would far outweigh your returns here in the Forex markts.

The entry and exit method that Ace has introduced to the readers here is not meant to make you a millionaire but you just following his entry and exit strategy......Although it might look simple, it is by far simple. It is very easy to enter and exit but that is not what makes a good forex trader and part of the 5% that succeed. The emotion, psychology and money management is what will make the difference between the 95% failures and the 5% success rate in this business. This is a business and if you don't treat it as that, you will not be successfu l. I mean what business do you know where you just get up one day and go to a store and say I want a business and you just open the door in the morning and come back and close the door at night..........I doubt you will find a successful business owner anywhere in the world like that.

Ace has simplified this method not so you just know where to buy or sell, but so you may not be glued to your monitors all day long. There are many traders that are successful day traders and that is what they love to do but if you have a regular busy life and do not want to be glued to the monitor screen this method and there are also others that can be adapted to your lifestyle. but please do not focus on just the system here and read the many posts from ace and others regarding money management and backtesting to further minimize losses and extending gains.

Ace, it is great of you to share such knowledge for others to read and experiment with. I read the posts and something interesting hit me last night and while I was just doing some back testing and my eye kept catching a few little things that I thought might improve the system and while I was doing further reading, I saw that danno had done back testing with a little variation which I had myself noticed. This confirmed my findings danno's extensive backtesting proved that by being able to manage the stop loss as he mentions (moving to break even after 1x) can sustantially reduce your losses and bring your percentage down. I think this is a great finding to tweek this system to make it more profitable and I think readers should understand the probability factor of this method and following the plan to be able to fully utilize the system.

I just wanted to thank those that have contributed their findings and their backtesting to further this method and onelast thing I want to say is that every time there is a question regarding the close of the candle and which one to go with. Every broker timing is different................I use FXCM and when my charts open up the candle closing at the weekly line is not very reliable so I have to wait for the 00:00 candle to close and that is where I base my dicisions and numbers from..............I have also backtested since the beginning of the year for my broker to see if that is more reliable and it is and I think everyone should test it for themselves as no one broker or time zone will be the same.

Thank you again to all and Ace I too am from Canada...........what part of canada are you from?

I thinks it will go down but only small tp will give a secure profit...

Hi Garfied, Can you please post the pivot points for the 2 pairs. Thanks. Also, do you use an indicator that would show you these and could you please share with us, thanks bud.

Thanks, Can't get the mo pivot on my chart. What is the price you are seeing in the monthly pivot

I just notice that if i would have use my oanda prices to draw box, the 4 hr candle hi-lo is 157.069 - 155.627 while my MT4 show 156.53 - 155.54. So on Oanda it`s a 144.2 pips candle and MT4 it`s a 99 pips candle. It`s a big discrepencie. My Fxlite MT4 have a big gap between friday close and this week opening.

Hi All,

It is party time again... From 4 hour chart, I think there is a strong support at 133.20 this week for EJ, if it can break thru.. then should have more pips to collect else....

However, refering to BB, it should be going down... Btw, our system here is set and forget right? So, do what you should...

Happy pipping!

I agree BB showing downtrend. If you already understand the system with the price action you can set and forget..

I have gbpjpy monthly pivot at 154.90, is this wrong?

Hi fellow traders. just stop by to wish to all a good week and great pips! Both trades just triggered... hoping for a nice rally down at least until the monthly pivots, just as someone already mentioned.
Happy piping.

Can anyone answer Calderone please? I also would like to know cause i am getting a different number.

Since Ace created the system, I'm pretty sure he knows when the candle bar is formed.

Garfield, thanks for the heads up.

My open short hit BE so I got out. I am now waiting to see how things progress.

I may put a pending short below the Monthly pivot just in case it breaks through but we are on a 6 month uptrend according to the daily charts so I think I will error on the side of caution today.

I will increase my long position if the market goes up to enter our long trade.

Dave R.

For those interested, here is a pivot indicator which clearly shows the monthly pivot.

Dave R.