26# GPY 4H Strategy Trading System
Submit by Forexstrategiesresources
Entry Position
1) Enter the Market at the open of the 08:00 candle on a 4 Hourly GBP/JPY Chart.
2) Buy if the 4:00 Candle closed as a Blue Candle, and the MACD Histogran Bar is
above the 0 Line and increasing in length.
3) Buy if the 4:00 Candle closed as a Blue Candle and the MACD Histogram Bar is
below the 0 Line and decreasing in length.
4) Sell if the 4:00 Candle closed as a Red Candle, and the MACD Histogran Bar is
below the 0 Line and increasing in length.
5) Sell if the 4:00 Candle closed as a Red Candle, and the MACD Histogran Bar is above the 0 Line and decreasing in length.
6) It is a NO TRADE if the 4:00 Candle closes as a Blue Candle and MACD
Histogram Bar is below the 0 Line and increasing in length.
7) It is a NO TRADE if the 4:00 Candle closes as a Blue Candle and MACD
Histogram Bar is above the 0 Line and decreasing in length.
8) It is a NO TRADE if the 4:00 Candle closes as a Red Candle and MACD Histogram Bar is above the 0 Line and increasing in length.
9) It is a NO TRADE if the 4:00 Candle closes as a Red Candle and MACD Histogram Bar is below the 0 Line and increasing in length.
Exit
Our target is to get 100 pips or more. We therefore trade 2 Lots and we Exit when
1) When we Achieve 100 pips Profit we exit one Lot.
2) We stay in the Market with the other Lot looking for some additional Pips.
We exit at the open of the next Candle if the next candle opens one pip less than our current candle if we are Long and one pip more than the current candle if we are Short.
Reverse
If we are SHORT and before we achieve our Profit Target of 100 pips and the Market starts retracing as shown in the chart below, we Reverse as soon as the market goes one pip above the open of the 4:00 Candle.
If we are LONG and before we achieve our Profit Target of 100 pips and the Market starts retracing as shown in the chart below, we Reverse as soon as the market goes one pip below the open of the 4:00 Candle.
Share your opinion, can help everyone to understand the forex strategy.
sena (Thursday, 09 January 2020 06:48)
what do you mean by 4.00 candle 8.00 candle is it GMT?
yves (Monday, 11 May 2015 16:25)
Good strategy very simple but your target is too high! For me the first target maybe at 20pips
Venu Yedlapalli (Sunday, 10 May 2015 18:57)
I have been trading using LO strategy successfully. I did make a few adjustments to fit my aggressive trading style. Thanks for posting this.