They were discussing the live trade they were in at the moment, so it's the two last bars. You even have the lines of the trade positions at the moment (buy/SL).

4H 5EMA System

OK, this is taken from pages #4 and #5; Take a look at the chart being discussed at that time (moments before being stopped out and flat); Read the questions and answers about it - bolds on Sterling's post are mine. Note that I've added two words ...

4H 5EMA System

It's normal to have doubts about this situation... I had some in the past, too. To quote myself from some posts ago: I will try to find some situation in the past, where Sterling applies this rule, and make a repost of it.

4H 5EMA System

lol

4H 5EMA System

I might add, for better understanding, that in the example of that chart, and strictly by the 4H rules, it would be: 1 - Buy setup bar; note that the previous two bars are also buy setup bars but bar ‘1’ is the first bar that is followed by a ...

4H 5EMA System

Some considerations, strictly following original 4H rules: If we hit SL on a current trade, with the consequent filling of the reverse order, we do not place another reverse order UNTIL we get a setup bar to the opposite direction of the actual open ...

4H 5EMA System

Just wanted to welcome you, Dabestone I'm sorry not being qualified to answer your questions (different broker and not trading daily method), but I'm sure someone will soon. Enjoy the thread!

4H 5EMA System

last trades and current situation — A – Being in a short trade, this bar qualifies as a setup to a long. SL and buy stop moved down to 1.4199; SL for pending buy at 1.4085. B – Has triggered the SL and entered the long. Made a lower low, so SL ...

4H 5EMA System

I'm on top of that... give me 10 min to finish.

4H 5EMA System

Here goes the new correction: quote fourxtrader: A - A new long set-up candle forms - a buy-stop is entered 5 pips + the spread above the high of candle A as soon as it closes and a S/L 5 pips below its low B - A valid reverse candle forms ...

4H 5EMA System

Since nobody has comment, let's do it (I was busy all day). Keep in mind that all is analysed at the close of the candle (action taken at the close of...). See below: Some comments: First of all, you might notice below that I use two different ...

4H 5EMA System

You are partially right - I say partially, because you are forgetting the first condition which defines a setup bar: A setup bar to go short pierces (or is beyond) the upper ema by at least 5 pips (without piercing the lower ema). Only after this ...

4H 5EMA System

Don't worry. Like I said, my comment meant to point out the right rules to new comers, I'm sure you wouldn't have posted it, if you were aware it had mistakes. The rule is simple: You know that, after entering a new trade with a setup bar, the SL ...

4H 5EMA System

Your SL isn't according to the system's rules... you're free to trade it as you wish, but I'm just pointing that out to avoid confusion to new comers.

4H 5EMA System

Let me add that the SL for the current buy is @ 1.4046; And when the reversal bar has closed, minutes ago, we added the reverse sell order at that same price. I also remember what we do for the SL of the pending reverse order: At the moment we have ...

4H 5EMA System

I've been in the sideways in what concerns the daily method, but I got the idea that positions aren't closed for the weekend? Maybe I'm mixing methods, because it also seems we have more than one variation (with/without emas; with/without profit ...

4H 5EMA System

And update for 4H users Yesterday at the openning, we have reentered the buy @ 1.4438, and placed the SL & sell stop @ 1.4420; Those were later activated (-18 pips for the long), so we're short since; Currently, we have locked profit, with a SL & ...

4H 5EMA System

Kind of (it's on the rules): The 5 min rule exists to protect against big gaps that go against you - when the market opens, you simply reenter the position dictated by the last context; The trade is closed 5 min before the close, and the reentring ...

4H 5EMA System

As for the 4H, my last trade was: Buy @ 1.4276; Out 5min before close, @ 1.4530 (+254 pips). Last bar is a setup to a short, so if on Sunday the market opens below 1.4420, a sell will be open; If it opens above, a buy will be open. Good weekend to ...

4H 5EMA System

As mine does (Alpari UK).

4H 5EMA System