USDJPY Buy from 5/9 20:00 hit stop at 10681 for +174
USDCAD Buy from 8/9 16:00 hit stop at 11012 for +52
GBPUSD 16169 short from 16/9 12:00 hit stop at 16208 16/9 16:00 for -39
AUDUSD 9092 short from 16/9 16:00, stop at 9118
EURGBP 7965 short from 16/9 16:00, stop at 7991
USDJPY 10705 buy from 16/9 16:00, stop at 10678
Hi Harmonicphil,
I would like to kindly ask you a question about re-entries. Using current USDJPY trade as an example.
Weekly and Daily is up, 4h went a few pips under MA and is up again.
Are we entering trade again on 4H as a new signal?
(Is candle marked with second arrow valid entry?)
Thank you.
Hi Kennard, Yes, it dipped enough during the 16:00 to hit my stop. If you weren’t in the trade from 5/9 then the close of the 16:00 candle would be a new signal, so that’s why I’ve reopened it. I guess it also means you don’t miss out on the trade if it was just a quick dip before going up strongly again.
Yesterday’s AUDUSD 9092 short and USDJPY 10705 long hit FourCandle’s 60 and 75 pip targets.
New trade USDCHF 9353 long from 17/9 16:00 candle, stop 9339, 10 behind MA.
New trade EURUSD 12864 short from 17/9 20:00 candle, stop 12949, 13 above MA
Yesterday’s USDCHF hit stop at 9339 for -14.
Hi Harmonicphil,
Thanks a lot for verification.
I started to trade this system on demo from 18/8 but I am pleasantly surprised how good and simple this system is. Lately it produced so many nice trades. Thank you so much you posted it here .
Hi Harmonicphil,
I would like to ask one more question regarding re-entries.
Is it a valid entry if price just touch MA and then continue in our direction?
I will use EURUSD 4H as an example.
Is the candle marked with arrow valid entry? Or the price need to go above MA and then go down?
Thank you.
I think the 3LP system would have given a signal if it went above the MA. In this case the MA was 1.29315 and the high was 1.29300
Thanks a lot for clarification.
New trade USDCHF 9372 long from 19/9 8:00 candle, stop 9343, 10 behind MA
New trade USDCAD 11003 long from 22/9 12:00 candle, stop 10982, 13 behind MA
New trade EURJPY 13961 long from 23/9 8:00 candle, stop 13941, 17 behind MA
New trade GBPUSD 16336 short from 24/9 16:00 candle, stop 16375, 23 behind MA
USDJPY 10705 long from 16/9 16:00 hit stop at 10872, 12 below MA for +167
EURJPY 13961 long from 23/9 8:00 hit stop at 13941 for -20
Hi Phil,
Subscribed to this thread.
Really appreciate your posting and keeping this thread alive. I love this simple trend following system. Over time, I believe simple works best.
Thanks Again!
New trade USDJPY 10897 long from 26/9 4:00 candle, stop 10869, 15 behind MA
Hi All
Update for the Fixed Target approach attached. I reformatted the spreadsheet in August so two are attached. The system to date for 2014; 1/1/14 - 30/9/14 is +180%
All the best
3LP Fixed Target 2014 Jan-Jul.pdf (50.9 KB)
3LP Fixed Target 2014 Aug-Dec.pdf (42.8 KB)
well Done 
Four Candles, thank you so much for the comprehensive details of your two spreadsheets. You know we have all been hoping you post your work again here.
I have a quick question though. Your method works with the fixed target approach of 30 pips (and 50 for your JPY pair) if I see that correctly. It also looks like you use the same stop loss ratio. But certain trades show a lower pip amount i.e. your trade from 8/15 for EUR/USD, your TP was 30 but the loss you actually took was -13.9 pips vs. -30pips. So how do you close out of your trades if they don’t reach TP? Do you go for break even, MA, manual close on news etc?
I thought I would never say this but now that we are in trending markets again (and the first time I’ve seen this as a newbie) it seems more important to know how to properly exit a trade than to enter a trade, compared to the choppiness of March, April, May…
Again, thanks so much for all your great work. It is very much appreciated.
Angela
PS: And once you close a trade out, what is your re-entry criterium? Thanks