Miracle CandleStick Chart Trading Strategy - Open Position



Candlestick charts display the open, high, low, and closing prices in a format similar to a modern-day bar-chart, but in a manner that extenuates the relationship between the opening and closing prices. Candlestick charts are simply a new way of looking at prices, they don't involve any calculations.
This method is based on break out period from 14.00 (GMT) to 16.00 (GMT) of major USD currency pairs. You have to check your broker time zone to indentify the correct period on your chart. In this book, I assume that the time on chart is in GMT.

Do the follow to set up your chart:

- Open a 15-minutes chart on a USD major currency pair such as GBP/USD
- Draw a vertical line at 14.00 time on your chart (again this is GMT time)
- Draw another vertical line at 16.00 time on your chart (GMT time)
- Draw a Horizontal line at the highest of candles/bars in between the vertical line.
- Draw a Horizontal line at the Lowest of candles/bars in between the vertical line.


* Then you have the following chart

Miracle CandleStick Chart Trading Strategy - Open Position



Entry rules

- Put a buy stop at the high stop loss at the low

- Sell stop at the low with and stop loss at the high



Take Profit Target

The profit target is set at 40-80 pips.

Note:

- If the Distance between the highest and lowest is less than 50-60 pips, it could be very profitable
- If the Distance between the highest and lowest is more than 50-60 pips, it could be not very profitable
- There are always nine candles between two vertical lines.
- The USD news are usually released around or after the 14:00-16:00 GMT phase
- The USD news are usually released around or after the 14:00-16:00 GMT phase
- The signals are only valid for the current day. You have to wait for the 14.00-16.00 period to trade the next day


TRADES EXAMPLE'S

LONG TRADES

GBP/USD
First, we open a 15 minute chart for GBP/USD. We draw two vertical lines at 14.00 and 16.00 GMT time. We draw 1 horizontal line at the highest point between two vertical lines (at 1.6354) and another horizontal line at the lowest point between two vertical lines (at 1.6314). We notice that the distance between the highest and the lowest is 40 pips, so this set up would be very potential. We set a buy stop at 1.6354 with stop loss at 1.6314 and a sell stop at 1.6314 with stop loss at 1.6354. Our target profit is set at 40 pips.
Later on of the day, the price breaks the lowest level and triggers our sell stop at 1.6314 and continues move down. The trade is closed when it hit the profit target which is at 40 pips.

Miracle CandleStick Chart Trading Strategy - Open Position


AUD/USD

First, we open a 15 minute chart for AUD/USD. We draw two vertical lines at 14.00 and 16.00 GMT time. We draw 1 horizontal line at the highest point between two vertical lines (at 0.6800) and another horizontal line at the lowest point between two vertical lines (at 0.6750). We notice that the distance between the highest and the lowest is 50 pips, so this set up would be very potential. We set a buy stop at 0.6800 with stop loss at 0.6750 and a sell stop at 0.6750 with stop loss at 0.6800. Our target profit is set at 60 pips.
Later on of the day, the price breaks the lowest level and triggers our sell stop at 0.6750 and continues move down. The trade is closed when it hit the profit target which is at 60 pips.

Miracle CandleStick Chart Trading Strategy - Open Position


EUR/USD

First, we open a 15 minute chart for EUR/USD. We draw two vertical lines at 14.00 and 16.00 GMT time. We draw 1 horizontal line at the highest point between two vertical lines (at 1.3640) and another horizontal line at the lowest point between two vertical lines (at 1.3600). We notice that the distance between the highest and the lowest is 40 pips, so this set up would be very potential. We set a buy stop at 1.3640 with stop loss at 1.3600 and a sell stop at 1.3600 with stop loss at 1.3640. Our target profit is set at 80 pips.
Later on of the day, the price breaks the lowest level and triggers our sell stop at 1.3600 and continues move down. The trade is closed when it hit the profit target which is at 60 pips.

Miracle CandleStick Chart Trading Strategy - Open Position


SHORT TRADES

USD/CHF
First, we open a 15 minute chart for USD/CHF. We draw two vertical lines at 14.00 and 16.00 GMT time. We draw 1 horizontal line at the highest point between two vertical lines (at 1.0933) and another horizontal line at the lowest point between two vertical lines (at 1.0900). We notice that the distance between the highest and the lowest is 33 pips, so this set up would be very potential. We set a buy stop at 1.0933 with stop loss at 1.0900 and a sell stop at 1.0900 with stop loss at 1.0933. Our target profit is set at 50 pips.
Later on of the day, the price breaks the highest level and triggers our buy stop at 1.0933 and continues move up. The trade is closed when it hit the profit target which is at 50 pips.

Miracle CandleStick Chart Trading Strategy - Open Position


EUR/USD
First, we open a 15 minute chart for EUR/USD. We draw two vertical lines at 14.00 and 16.00 GMT time. We draw 1 horizontal line at the highest point between two vertical lines (at 1.3930) and another horizontal line at the lowest point between two vertical lines (at 1.3900). We notice that the distance between the highest and the lowest is 30 pips, so this set up would be very potential. We set a buy stop at 1.3930 with stop loss at 1.3900 and a sell stop at 1.3900 with stop loss at 1.3930. Our target profit is set at 50 pips.
Later on of the day, the price breaks the highest level and triggers our buy stop at 1.3930 and continues move up. The trade is closed when it hit the profit target which is at 50 pips.

Miracle CandleStick Chart Trading Strategy - Open Position


USD/CAD
First, we open a 15 minute chart for USD/CAD. We draw two vertical lines at 14.00 and 16.00 GMT time. We draw 1 horizontal line at the highest point between two vertical lines (at 1.2189) and another horizontal line at the lowest point between two vertical lines (at 1.2160). We notice that the distance between the highest and the lowest is 29 pips, so this set up would be very potential. We set a buy stop at 1.2189 with stop loss at 1.2160 and a sell stop at 1.2160 with stop loss at 1.2189. Our target profit is set at 60 pips.
Later on of the day, the price breaks the highest level and triggers our buy stop at 1.2189 and continues move up. The trade is closed when it hit the profit target which is at 60 pips.

Miracle CandleStick Chart Trading Strategy - Open Position

*Read one by one strategy carefully so you can understand our strategy well.

*Trade on demo account first before you apply this strategy to real money.

Happy Trading !!









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