The Three Candles Strategy: H4 Price
The "Three Candles" strategy is a pure price action system that eliminates complex indicators. Designed exclusively for the H4 timeframe on GBPUSD and EURUSD, it capitalizes on strong momentum bursts identified by three consecutive candles moving in the same direction.
Strategy Profile
Timeframe
H4 Only
Pairs
GBPUSD, EURUSD
Type
Pattern Trading
1. Setup
No indicators are required. This strategy relies entirely on reading Candlestick Patterns directly on the chart.
2. Long Entry (Buy) Rules
- Pattern: Identify three consecutive ascending (bullish) candles.
- Trigger: Open a Buy position at the opening of the 4th candle.
3. Short Entry (Sell) Rules
- Pattern: Identify three consecutive descending (bearish) candles.
- Trigger: Open a Sell position at the opening of the 4th candle.
Trade Management
- Take Profit: 50 points (pips).
- Stop Loss: 40 points (pips).
- Trailing Stop (Optional): Move SL to breakeven and trail price for larger moves of 100-150 points.
Keep It Simple: Trade price action patterns and earn cashback on every lot.
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