This is an example of using multiple timeframe for entry to avoid some false signal. The stoch on H4 crossed a few times, after several attempts it finally go down. Entry is there in H1 charts.
Hi Phillip,
I was just wondering how often you have losing trades that actually lose pips and by how many? So far I have had 2 ‘losing’ trades and both of them I came out with a profit. Does this generally happen more often than not?
Thank you for sharing this awesome pattern.
Evening people,
This is great system that I have back tested on many pairs on the 4HR chart,you can add certain confluences like .618 retracement’s and pin bar candles to better your odds. One thing i am finding confusing is where people are say they have ‘loosing trades that are profitable’! anyone care to explain how a loosing trade can be profitable, surely that is a winning trade! cheers guys! Phil thanks for sharing!
i’m working on a new pattern, its 4d in nature. just working out the timing math…
It happens quite a lot. You will lose money in 25-30% of the trades you enter. Personally I consider this a low percentage for a trend following system.
Philip , thank for the great system shared with us. I’m following your post since the first page and i’m very clear what you have mentioned for all your post in this thread.
[QUOTE=“leonlee0116jl;688232”]NZDJPY NZDUSD I’m in. Let’s see how this trade go![/QUOTE]
Are you looking at shorting both pairs? I wonder whether the long term uptrend in NZDJPY cancels out the entry… maybe Phillip can give some advice here?
Curious what your initial risk was on that trade! So do you risk more than 1% under certain circumstances?
Thanks
You guys hold the trade over weekend? Or get out the trade on Friday?
I think philip mentioned that you only trade the TF you have on your chart without looking at other TF.
Agree!!
Using MTF would result in complicating the system. Although those who are sticky about following the trend from the higher TF could simply check the settings on the daily and only take signals in the direction of the daily. So at best, 2 TF’s are better to handle. Introducing a 3rd TF, ex: H1, H4 and D1 would end up confusing and could lead to potential losses. Why fix/complicate something that is simple in the first place.
A quick visual scan of charts shows higher probability of trades taken when H4 trend trade set ups are in the same direction as D1.
A good system is a seemingly complicated one, while fundamentally simple.
I do have an idea of using/building some kind of a MTF EMA crossover dashboard or indicator. So when we are focused on the H4 TF, the MTF indicator could either show Up/Green or Down/Red arrow or box. This would act as a quick filter to consider before jumping into a trade.
However, if you look closely, considering D1 & H4, most of the cases, even if H4 is going counter, the retracement signal never happens.
Ex: D1, 20 > 50 and in H4 20 crossed below 50 and you are expecting stochs to move to OB levels, by the time this happens, the 20/50 H4 ema would have crossed above again invalidating the signal.
OR
Stochs on H4 would move to OB levels and signal a short trade, while D1 continues to slowly drift lower. This is what is happening on GBPJPY now. H4 gave a sell few days ago, D1 EMA’s are slowly drifting lower.
I think we can’t look at daily chart when we got signal from 4H. We only can get signal from daily and enter on 4H.
Just my 2 cent.
Which is basically what I said 
Some MTF charts… D1 & H4 and some questions.
AUDJPY: Daily is in a downtrend and triggered a sell, so shorts in H4 are waiting to happen/happened depending on the broker feed.
GBPJPY: H4 Sell few days ago worked out nicely. D1 is still in uptrend and Stochs in OB and could trigger a buy when they move above 20 but EMA’s are very close to a bearish crossover. Tricky!!
AUDNZD: D1 is in a sell, H4 is in a buy
GBPAUD: D1 is in a buy and stochs are in OS right now. Rise above 20 will trigger a buy. But its a late entry. H4, is soon to give a sell signal. So I assume you’ll just ignore this sell??
All i can say is thank you philip for sharing your system to us… i am now in a positive trade shorting N/U…
I’ve closed out all my positions for this week as I got impatient with GBPAUD. Either way managed to exit at a better price. And the loss on GBPAUD recovered with GBPJPY short. SL trailed to void the loss on GBPAUD. GJ shorts is still running strong.
Got to finish up some work, so i’ll see you all over the weekend or on Monday.
Happy trading and thanks once again to Philip for sharing this method.
So all running trades u will close by today?
Short AUD/JPY on the 4hr, nicely in profit already! system pulls through once again, also multiple confluences such as trend line break and retest. Few hundred point drop here.