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  1. #1
    Legendry Member Okane's Avatar

    The 4 Candles Strategy - 1-4 Expiry !!!

    This is a review of the 4 Candles Strategy – Advanced breakout Strategy

    This strategy uses the hourly and the M15 charts together with support and resistance lines
    and only one indicator, the Stochastic Oscillator. I can only recommend this strategy
    to advanced traders who know how to draw support and resistance lines!
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  2. #2
    Legendry Member Okane's Avatar
    I would like to add a tip, something not shared in the review:
    You shouldn't use this strategy in non-trending markets!
    When prices are consolidating, bouncing between two areas during a long time (few days/weeks)
    then price isn't trending so you should wait for trend continuation before using this strategy again.
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  3. #3
    Rookie Member panosandy's Avatar
    Hi Okane thank you so much for this valuable piece of info. What is continuation?

  4. #4
    Legendry Member Okane's Avatar
    Quote Originally Posted by panosandy View Post
    Hi Okane thank you so much for this valuable piece of info. What is continuation?
    Welcome. No, I wrote "trend continuation", continuation of a trend.
    If these things are not clear you should use a strategy recommended for newbies
    because this strategy is experts only . Look here in the strategies thread
    There are plenty of newbie friendly strategies to choose from!
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  5. #5
    Specialist Member Million Dollar Baby's Avatar
    Thanks for sharing strategy. Looks good.

    I noticed a couple of points where I have different opinion.

    1- When prices are consolidating, bouncing between two areas during a long time (few days/weeks)
    market is ranging for few days would not be relevant for a 1-hour expiry because trading range of few days/weeks would most probably be very big for a 1-hour expiry.

    2- As you mentioned, expiry time is not discussed in it and provided a suggestion of 1-hour. It seems good to me if analysis timeframe is 15-mins. But if we are performing analysis on 1-hour timeframe. IMO, expiry time could be above or equal to 4 hours. For 15-min, we can have 1 hour though.

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