Yup…hence why I asked…i cannot find it…anyone please point me to the Hip Chat ?
Philip…you have Open a Short EURUSD from 22nd at 1.1078…what time frame chart was that entry as I thought only 4HR charts and if so i cant see the entry there…thanks in advance
It is the 4 hr chart…
Thank you very much
I chose the first option, Fibonacci expansion of higher painted blue wave to the lowest and then to the top again
- I want all levels and symbols after the level of 2.618, to be able to add them
Buy “GoldEuro” on 4h chart (3+GMT)
Demo Account
Hi all, my first post on this thread, but have been reading up on the technique thus far. I was watching the EUR/GPD too but wanted to confirm it’s still a valid setup since it is the second time the stoch has moved into overbought since the EMA crossed to the short side. Is it ok to jump in on these as long as the EMA hasn’t crossed back over?
Thanks!
Vasilis this is the second entry. If you just read page 113 you will find out you shouldn’t short when RSI is above 60.
Now the idea is quite simple. You go through the pairs, and I did this weekend. Now I noticed threeimportant things:
- USD is being bought (according to the pattern) across the board.
- EUR is also being bought, except against the Dollar (so far).
- Both AUD and NZD are being sold across the board.
So we reach the conclusion that over the coming days, dollar and Euro are the strongest pairs while AUD and NZD are the weakest. We thing AUD is the weakest pair so far, because AUDNZD is giving a sell signal.
So the conclusion is [B]to long EURNZD, EURAUD and to short AUDUSD and NZDUSD[/B]
So how to choose which pair to short? We move to the weekly chart.
You will notice that EURNZD and EURAUD are getting ready to give a sell signal on the weekly. This is true for all Euro pairs. [B]We are getting ready for a capitulation in the Euro.[/B] This immediately tells us that may be we shouldn’t take the EUR longs (we can since the stops will protect, but we have better alternatives.)
On the other hand the weekly chart for AUDUSD and NZDUSD shows a healthy downtrend. [B]The only problem is the divergence on the weekly suggest an imminent correction there before the downtrend resumes.[/B]
So? Now we can prioritize which pair to choose. You can clearly see that none of the four pairs passed the filters. You can still trade them, but they won’t be your trade of the year for sure.
The top priority as a result becomes waiting for a sell signal in EURNZD and EURAUD if it appears this week.
The second priority is to take an AUDUSD short (NZDUSD’s signal was already triggered).
Then the third is to long EURNZD or EURAUD if that’s what materializes.
Fourth priority is to basket trade all the signals triggered this week, this usually proves the safest in situations like this.
First trade shorting AUDCAD was a 67pip profit.
So ill keep demoing this strat untill i feel 100% confident with it to trade live. Me like
Hi Philip,
Great idea on identify currency trend. I can really understand very easily.
However, you jumping between 4H chart and weekly chart.
Can you explain how actually you utilize these two timeframe?
"Now the idea is quite simple. You go through the pairs, and I did this weekend. Now I noticed threeimportant things:
- USD is being bought (according to the pattern) across the board.
- EUR is also being bought, except against the Dollar (so far).
- Both AUD and NZD are being sold across the board."
How you identify the currency strength and weakness? on 4H or weekly?
compare each USD,EUR,AUD, NZD paired currencies to identify?
“The top priority as a result becomes waiting for a sell signal in EURNZD and EURAUD if it appears this week.”
Is the top priority to watch at weekly chart? using the same set up?
The second priority is to take an AUDUSD short (NZDUSD’s signal was already triggered).
Is this looking at 4H chart? Because the weekly AUDUSD sell signal already executed.
Then the third is to long EURNZD or EURAUD if that’s what materializes.
Long EURNZD or EURAUD is on weekly chart signal or 4H signal?
Thank you for kind reply.
To help me newbie to better understand your idea.
Thank you.
Let’s take it step by step. If I fined a sell signal [B]on the 4 hr[/B] in AUDUSD, NZDUSD, EURUSD, GBPUSD and a buy signal in USDCAD and USDJPY. This tells me that the US dollar is strong.
Now the same buy signal occurred for Euro against all those except the dollar, so it is second strongest. NZD is producing sell signal [B]on the 4 hr[/B] against all currencies, then it is the weakest. AUD is the second weakest.
Now I move to the weekly to look at the long-term trends:
So I notice two things: 1) The strength in Euro on the 4 hr is against the trend in weekly.
- The strength in dollar in the 4 hour is with the trend on the weekly.
So this says that AUDUSD and NZDUSD shorts have a higher probability than EURNZD and EURAUD longs.
That’s the jist of what I said. Hardly rocket science 
Hi Philip,
the EUR\USD already triggered(short) for the second time according <<The Philip’s strategy>> (I gave this name).
In addition, I would like to propose,for examination,an other filter in order to avoid the range trend.
We should watch at weekly chart to find out the bottom and the top of range move at the last weeks.
Thanks in advance
It could work that filter, let me know.
Now good luck with the second entry. I personally prefer looking for fresh ones, but second entries do work.
Sometimes it intersects Stochastic indicator before the end of the four hours candle, and at the end of the candle is in the middle.
The question is: Do you get into at the moment of the intersection so as not to lose the opportunity?
ATTENTION
I think that we have a chance to close to GBP-USD “and the entry of the first” | 4H chart | (3+GMT)
Concerning GBP-USD
According to what I read, wait at the intersection area 80 +, I personally will not enter
what do you mean?
<<wait at the intersection area 80 +>>
Stochastic lines cross above the 80 level, and also close 4h candle after the intersection of Stochastic