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There is POWER in just 4 pips. This week I am continuing to focus on TP4 and TP4+ over the next few weeks. This strategy was developed by myself along with my business partners; Shanika Barnes and Andre Pilate-English. It is a straightforward strategy that takes just 4 pips at a time. A "bandit" in the market if you will.
Finding a Stronger Buy or Stronger Sell and using that as a qualification when trading the TP4 cross keeps us in the current trend and increases the probability of that trade being a profitable one. Everyone likes better odds, right?
To determine if a pair is in a Stronger Buy or Stronger Sell, we will examine that pair on the 15 min, 1 hour, 4 hour, and daily charts.
To help with this process; feel free to use the attached Excel worksheet. (Excel Sheet Here)
In the example below EURCAD is a Stronger Sell simply because the price is below the cloud on all 4 charts. To be a Stronger Buy, the opposite must be exact with the price above the cloud on all 4 charts.
Trading this week has been consistent. TP4 went for 11 out of 12 trades this week. The 12th one is currently still open. I see it taking profit as soon as we have an answer on the Brexit extension. I do have a few other trades in here that were not TP4. 3 to be exact. Brexit has slowed things down just a bit--but I am still finding TP4 to trade even in the slower market. It has been so encouraging that I am planning on focusing entirely just on TP4/TP4+ for this account. On the goal side, I am still running a wee bit behind. Going to continue with this chart for now. I am curious to see if it can catch up before moving on. Next week we will cover how to trade TP4. I am so excited to share it with you all! ~~Hiz Rib
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money you can not afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.