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Daily Chart 3-Candle

  • #421
  • Jul 21, 2018 7:57am Jul 21, 2018 7:57am
GM FF,

Using my own forum to say...

It takes something for an individual to FREELY share something that he believes or that is beneficial to himself and others. When you encounter such an individual, be appreciative. That's just a good character trait... to be appreciative. You don't owe, since the person shared freely, but APPRECIATE IT, especially when it has helped you.

It takes a certain kind of low OR pride NOT to appreciate that kind of help. I pray traders will have more character...good character that is. Maybe then we will all become more successful!

So I continue to trade my candlestick system and when combined with DAVIT'S PIVOTS it does very well.

THANK YOU DAVIT! YOUR SYSTEM HAS HELPED ME! KEEP UP THE GOOD WORK! MANY OF US APPRECIATE IT!
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  • #422
  • Jul 22, 2018 9:47am Jul 22, 2018 9:47am
Quoting simoneg
GM FF, Using my own forum to say... It takes something for an individual to FREELY share something that he believes or that is beneficial to himself and others. When you encounter such an individual, be appreciative. That's just a good character trait... to be appreciative. You don't owe, since the person shared freely, but APPRECIATE IT, especially when it has helped you. It takes a certain kind of low OR pride NOT to appreciate that kind of help. I pray traders will have more character...good character that is. Maybe then we will all become more...
i fully agree you. davits approach is a great gift to the (small) community.
and there is always a percentage of destroyers waiting for a chance. the best is not to focus on these and block them immediatelly.

davit said his system is more like fishing with a wide net than hunting with a harpune.
when combined with your approach, simone, or others it can be also a harpune. i see your pattern clearly around pivots occuring...

also i like to use for example atheers "the only pattern" for good entries:
https://www.forexfactory.com/showthread.php?t=607008
trading is like dancing, don't think and just listen to the music!
  • #423
  • Jul 22, 2018 9:53am Jul 22, 2018 9:53am
Quoting birdland
{quote} i fully agree you. davits approach is a great gift to the (small) community. and there is always a percentage of destroyers waiting for a chance. the best is not to focus on these and block them immediatelly. davit said his system is more like fishing with a wide net than hunting with a harpune. when combined with your approach, simone, or others it can be also a harpune. i see your pattern clearly around pivots occuring... also i like to use for example atheers "the only pattern" for good entries: https://www.forexfactory.com/showthread.php?t=607008...
Indeed birdland...ignore and move on. And yes, in combining you find your EDGE. That's all you need.
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  • #424
  • Jul 29, 2018 7:34am Jul 29, 2018 7:34am
Hello Simoneg,

I found NZDUSD H4 (as I attched image) . The red arrow is sell signal and then the blue arrow gives buy signal. Are there any filter here ?

Thanks,
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  • #425
  • Aug 23, 2018 3:02pm Aug 23, 2018 3:02pm
Quoting tbtduc
Hello Simoneg, I found NZDUSD H4 (as I attched image) . The red arrow is sell signal and then the blue arrow gives buy signal. Are there any filter here ? Thanks, {image}
Sorry I missed your post tbtduc...its good to wait for a test of your entry level. That's my best filter.
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  • #426
  • Aug 25, 2018 7:54am Aug 25, 2018 7:54am
Quoting tbtduc
Hello Simoneg, I found NZDUSD H4 (as I attched image) . The red arrow is sell signal and then the blue arrow gives buy signal. Are there any filter here ? Thanks, {image}
Also this setup was not valid...the market was trending DOWN prior to that bearish 123. We look for these setups after a period of Upward trending.
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  • #427
  • Aug 25, 2018 1:12pm Aug 25, 2018 1:12pm
Quoting simoneg
GM FF, Using my own forum to say... It takes something for an individual to FREELY share something that he believes or that is beneficial to himself and others. When you encounter such an individual, be appreciative. That's just a good character trait... to be appreciative. You don't owe, since the person shared freely, but APPRECIATE IT, especially when it has helped you. It takes a certain kind of low OR pride NOT to appreciate that kind of help. I pray traders will have more character...good character that is. Maybe then we will all become more...
Hi, where is davits post..thank you
  • #428
  • Aug 25, 2018 1:41pm Aug 25, 2018 1:41pm
Quoting londonali
{quote} Hi, where is davits post..thank you
Hi,

If you mean where you can download it please visit:

https://www.forexfactory.com/showthread.php?t=588764

or

https://www.forexfactory.com/showthread.php?t=793531
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  • #429
  • Sep 17, 2018 9:13pm Sep 17, 2018 9:13pm
thank you so much simoneg, wish you green pips. Btw greetings from Thailand.
  • #430
  • Sep 20, 2018 2:14pm Sep 20, 2018 2:14pm
Quoting petezer
thank you so much simoneg, wish you green pips. Btw greetings from Thailand.

Your'e welcome petezer!
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  • #431
  • Sep 21, 2018 3:23pm Sep 21, 2018 3:23pm
Greetings,
I believe GBPUSD is presenting good setup

Thanks
R
  • #432
  • Edited 6:19am Sep 22, 2018 6:03am | Edited 6:19am
Quoting rookie14
Greetings, I believe GBPUSD is presenting good setup Thanks R

Hi rookie14, yes but has to be traded on lower TF with this huge daily bar. Also need to pay attention to important support at 1.3040-50
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  • #433
  • Sep 22, 2018 10:25am Sep 22, 2018 10:25am
Quoting simoneg
{quote} Also this setup was not valid...the market was trending DOWN prior to that bearish 123. We look for these setups after a period of Upward trending.
Hello,

Can you explain this? Or an image to present your idea? Maybe i miss any info.

I put 2 ma (20 and 50) on nzdusd h4 and its trend down.

Sincerely yours,
  • #434
  • Sep 27, 2018 7:49am Sep 27, 2018 7:49am
Hi Simone / everyone - Thanks for this great thread - I've been following the system for some time now and it seems to work really well.

One quick question, assuming I mark the setup accurately according to the rules, sometimes it doesn't quite get back down to the textbook entry levels on Long setups, then rockets skywards, especially on frisky currency pairs like Cable.

In these cases is it OK to go in a bit higher than the perfect entry price, to make sure I get into the trade? Means a bit longer stop, of course, but in many cases this is OK. If not, I miss out on getting into some real high-quality trades.

Exactly the same happens in reverse on Short setups

More sedate currency pairs seem to obey the setup rules much better, but some more volatile pairs just get away from me.

Thanks again, Paul
  • #435
  • Sep 27, 2018 7:55am Sep 27, 2018 7:55am
Quoting loudoniii
Hi Simone / everyone - Thanks for this great thread - I've been following the system for some time now and it seems to work really well. One quick question, assuming I mark the setup accurately according to the rules, sometimes it doesn't quite get back down to the textbook entry levels on Long setups, then rockets skywards, especially on frisky currency pairs like Cable. In these cases is it OK to go in a bit higher than the perfect entry price, to make sure I get into the trade? Means a bit longer stop, of course, but in many cases this is OK....
Thank you Paul!

That is exactly what I do. Take some smaller entries first and then improve on those entries as the trade plays out. Yes it often shoots off away from the ideal entry.
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  • #436
  • Sep 27, 2018 8:40am Sep 27, 2018 8:40am
Quoting simoneg
{quote} Thank you Paul! That is exactly what I do. Take some smaller entries first and then improve on those entries as the trade plays out. Yes it often shoots off away from the ideal entry.
Thanks, Simone.

I love the way this trading system gets you in at a high-probability swing point with a rather modest stop loss.

When the setups succeed - which is often, in my experience - you can usually get a 3:1 or better Reward:Risk ratio, which is magic!

If the setup fails, as all trades do sometimes, the relatively tight stop loss means you live to fight another day.

I love the idea that you can apply this approach on different timeframes - I've been experimenting on the 1-Hour chart, but plan to aim for 4-Hour or Daily chart trades. I use MT4 that doesn't seem to offer 12-Hour charts, but I guess you can do those on MT5 or other charting platforms.

I'm using Weekly Pivot levels on the 1-Hour and 4-Hour charts, and Monthly Pivot levels on the Daily, to help me spot, then qualify, likely swing points. Plus the occasional Fibonacci 50% or 76.4 / 78.6% level which also often act as a catalyst for swing points, in my experience.

Thanks again for sharing, and for all your support to the thread!

Best wishes, Paul
  • #437
  • Sep 27, 2018 9:33am Sep 27, 2018 9:33am
Quoting loudoniii
{quote} Thanks, Simone. I love the way this trading system gets you in at a high-probability swing point with a rather modest stop loss. When the setups succeed - which is often, in my experience - you can usually get a 3:1 or better Reward:Risk ratio, which is magic! If the setup fails, as all trades do sometimes, the relatively tight stop loss means you live to fight another day. I love the idea that you can apply this approach on different timeframes - I've been experimenting on the 1-Hour chart, but plan to aim for 4-Hour or Daily chart trades....
Paul, sounds like your peeking at my monitors . I see you have spent some time with the system and appreciate it. When I trade it on H1 I look for the IDEAL setups, H4 and higher is great. Trade well!
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  • #438
  • Sep 27, 2018 11:42am Sep 27, 2018 11:42am
Good opportunity upcoming on UC H4
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  • #439
  • Sep 27, 2018 12:53pm Sep 27, 2018 12:53pm
Quoting simoneg
{quote} Paul, sounds like your peeking at my monitors . I see you have spent some time with the system and appreciate it. When I trade it on H1 I look for the IDEAL setups, H4 and higher is great. Trade well!
Hi again Simone

Oh no, you caught me peeking at your monitors! Sorry ...

I was wondering if you have found any good way to find the S + R levels at which swings are likely to occur?

I've tried Fibo's, and various time periods of Pivot Levels, but these are all bit hit and miss.

Nothing seems to work better than using your eyes to spot S + R Zones on the relevant charts, eg 4-Hour and Daily.

Mapping out the S + R Zones on the attached GBP/USD 4-Hour chart for example, I can see the high probability swing levels. I use Pink (R) or Powder Blue (S) rectangles on MT4 to show the zones on my MT4 charts.

And I think it helps with the other issue of price turning in the "right" direction from a setup, before the textbook entry level is reached - if I carefully map out the S + R zones beforehand, I feel more confident going in a bit early, provided the setup is solid.

Does this make sense to you, or do you have a neater way to spot likely swing levels?

I'd love to know!

Best wishes, Paul
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  • #440
  • Sep 27, 2018 1:13pm Sep 27, 2018 1:13pm
Quoting loudoniii
{quote} Hi again Simone Oh no, you caught me peeking at your monitors! Sorry ... I was wondering if you have found any good way to find the S + R levels at which swings are likely to occur? I've tried Fibo's, and various time periods of Pivot Levels, but these are all bit hit and miss. Nothing seems to work better than using your eyes to spot S + R Zones on the relevant charts, eg 4-Hour and Daily. Mapping out the S + R Zones on the attached GBP/USD 4-Hour chart for example, I can see the high probability swing levels. I use Pink (R) or Powder Blue...
Hahaha...
Yes I have a way of finding my own "PIVOT" levels. Since PIVOT suggests turning point. I go to the Weekly chart and take the Lowest Bearish Bar HIGH of each Swing Low as the Best SELL Levels for the Week and the Highest Bullish Bar LOW as the Best BUY Levels. I also do this on the Daily and Monthly and this gives me a pretty strong idea of the S/R Levels to trade. Hope this explains it. So for example UC just hit the daily SHORT level and sold off and closed strong below a WEEKLY BUY level...meaning likely strong bearish movement from hear on. USDCHF just hit MONTHLY Sell Level and is making a decision. Hope this is clear. Let me know if you have any questions.
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