It’s been quite difficult trading my 4 hour trading system lately because technically speaking I should still be going short on the GBP/USD and EUR/USD pairs because the daily Supertrend indicator is still red. However this week I just felt that they were both massively oversold and went long on both of them when the EMAs crossed upwards on the 4 hour chart.
I went long on the GBP/USD pair yesterday afternoon at 1.5020. I then closed half of the position for 50 points and let the other half run. I’m …

Just two trades for me this week (using my main 4 hour trading system) as I’ve been focused mainly on shares this week. I opened two long positions – one on the GBP/USD pair and one on the EUR/USD. As I mentioned last week I should really be going short on these two pairs as per my trading rules, but I still think they’re both massively oversold.
Therefore I’ve been looking to go long when the EMAs cross upwards on the 4 hour chart, and as it turned out the EMAs …

1. Supertrend
The Supertrend indicator is one of the best indicators you can use to spot new forex trends in my opinion. It is very easy to use because a green line indicates a bullish trend and a red line indicates a bearish trend, so all you need to do is wait for it to change colour. It’s not so effective on the shorter time frames, but on the longer time frames it works a treat, which is why it’s one of the main components of my 4 hour trading system.
2. …

This will be a quick update this week because I didn’t place any trades at all using my main 4 hour trading system. It’s very tough out there at the moment because the GBP/USD and EUR/USD pairs are both bombed out (but unlikely to move much lower in my opinion so not really good shorting candidates), and the other major pairs aren’t doing much either.
I shall continue to monitor these major pairs in the coming weeks but for now I’m being fairly cautious. Most of my time is currently spent trading …

In today’s blog post I want to discuss a trade that I opened yesterday on the EUR/USD pair because this is a classic example of a high probability set-up. It is based on my 4 hour trading system (fill in the form to the right for more details) and resulted in a quick and easy profit, with minimal risk.
First of all let me show you the 4 hour chart of the EUR/USD pair:
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