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Daily Chart 3-Candle

  • #1,161
  • May 24, 2019 6:02am May 24, 2019 6:02am
Quoting anhthu049
Hi ! everyone! I recently learned about Forex in the last few days and especially the swing points method. It is very attractive and attractive. I used demo accounts to practice above swing points method. I just set the above method, there is interest. However, I have not effectively used the features of support and resistance points. I hope you share more hands-on experience! {image} {image}
Hi anhthu049

Welcome to the forum!

To get the best results, I suggest you study carefully simoneg's basic rules set out in Post #1, then read all the example trades that Simone gives in this forum, particularly the first 30 pages or so. Please see also my comments in the 2 posts above, which may help you.

Any questions, just drop us a line here and I'll be happy to help.

If you take the time to study this methodology, you will find it is excellent, in my experience.
  • #1,162
  • May 24, 2019 7:03am May 24, 2019 7:03am
Quoting loudoniii
{quote} Hi anhthu049 Welcome to the forum! To get the best results, I suggest you study carefully simoneg's basic rules set out in Post #1, then read all the example trades that Simone gives in this forum, particularly the first 30 pages or so. Please see also my comments in the 2 posts above, which may help you. Any questions, just drop us a line here and I'll be happy to help. If you take the time to study this methodology, you will find it is excellent, in my experience.
Thank you for sharing and information. I am still studying the strategy above, I will read it carefully again according to your suggestion. Sincere thanks!
  • #1,163
  • May 24, 2019 12:01pm May 24, 2019 12:01pm
Quoting loudoniii
{quote} Hi anhthu049 Welcome to the forum! To get the best results, I suggest you study carefully simoneg's basic rules set out in Post #1, then read all the example trades that Simone gives in this forum, particularly the first 30 pages or so. Please see also my comments in the 2 posts above, which may help you. Any questions, just drop us a line here and I'll be happy to help. If you take the time to study this methodology, you will find it is excellent, in my experience.
Hi-
I seen you have been using this methodology for a long while now,,,,have you logged your winners and losers? ( looking for a wins to loss ratio)

thanks
  • #1,164
  • May 24, 2019 2:38pm May 24, 2019 2:38pm
Quoting tony1200
{quote} Hi- I seen you have been using this methodology for a long while now,,,,have you logged your winners and losers? ( looking for a wins to loss ratio) thanks
I have explored trading one of the above deals. However, I have not yet formed a rule for specific transactions. I do not have much experience in this market. Losing rate makes up the majority. How about you ? hope you share!
  • #1,165
  • Jun 6, 2019 10:35am Jun 6, 2019 10:35am
http://prntscr.com/nygs99

nice trade so far!
  • #1,166
  • Jun 11, 2019 8:20pm Jun 11, 2019 8:20pm
Quoting tony1200
http://prntscr.com/nygs99 nice trade so far!
BLDY..Nice..Great clear example
  • #1,167
  • Jul 5, 2019 11:42pm Jul 5, 2019 11:42pm
Dear Simoneg,

I am very excited to see your analysis, i am trading the similar method like you described in this topic xD.

It's great to see a guy think alike xD.


I wish we can discuss further more about this method to improve the trading results xD
  • #1,168
  • Jul 6, 2019 7:05am Jul 6, 2019 7:05am
An incredible Thread Simoneg.

Kindly peruse my Daily chart screen-shot for clarification regarding the LONG reversal as indicated. What is not clear to me is candle #1 which is Green.

Thanking you all for assistance at your convenience.

Continued success to all.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 27 KB
Hercs
  • #1,169
  • Jul 7, 2019 8:56am Jul 7, 2019 8:56am
Hello everyone,

I found one setup

Happy trading
Attached Image (click to enlarge)
Click to Enlarge Name: Nzdjpy.png Size: 27 KB
  • #1,170
  • Jul 20, 2019 3:16am Jul 20, 2019 3:16am
thanks a tonn for ur hardwork simone and swingman ..
  • #1,171
  • Edited Aug 12, 2019 9:49am Aug 11, 2019 3:08pm | Edited Aug 12, 2019 9:49am
Quoting Dramti
Hello everyone, I found one setup Happy trading {image}
Hello Dramti,

The ideal 123 looks like below. 3 always has the lowest low (for buy) or the highest high (for sell). Then it closes above/below the Open/Close prices of bars 1 &2. Use price action to help determine the strength of the entry price.
Attached Image (click to enlarge)
Click to Enlarge Name: 3candle example.png Size: 52 KB
Hero Traders Live to see their Accounts Die!
  • #1,172
  • Edited 3:25am Aug 19, 2019 2:01am | Edited 3:25am
Will the Euro (EUR/USD) bounce back from last week's selloff?

We have an H12 BUY trigger coming up, though it isn't perfect as Bar 3 does not close over the close of Bar 1, which is bearish.

Let's see how price reacts to this BUY trigger line.

A decisive close over the line? Or a clear rejection, and a continuation of the downtrend?

As always, we will believe only what we see, when it happens.
.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h12-mon-19th-aug.png Size: 29 KB
  • #1,173
  • Aug 19, 2019 2:54am Aug 19, 2019 2:54am
Quoting loudoniii
Will the Euro (EUR/USD) bounce back from last week's selloff? We have an H12 BUY trigger coming up, though it isn't perfect as Bar 3 does not close over the close of Bar 1, which is bearish. Let's see how price reacts to this BUY trigger line. A decisive close over the line? Or a clear rejection, and a continuation of the downtrend? As always, we will believe only what we see, when it happens. . {image}
I've been using this method with astounding results for quite some time now, however I came to the conclusion that the perfect setups with Bar 3 closing over the close of Bar 1 (as seen on the far left of your chart) are significantly more reliable than entering later after the close of Bar 4 or 5. Lately I've been trading the close of Bar 3 exclusively, so I'm passing on the Euro until I get that perfect setup. At the moment I'm long NZDJPY and AUDUSD.
  • #1,174
  • Aug 19, 2019 6:15am Aug 19, 2019 6:15am
Quoting Silverwater
{quote} I've been using this method with astounding results for quite some time now, however I came to the conclusion that the perfect setups with Bar 3 closing over the close of Bar 1 (as seen on the far left of your chart) are significantly more reliable than entering later after the close of Bar 4 or 5. Lately I've been trading the close of Bar 3 exclusively, so I'm passing on the Euro until I get that perfect setup. At the moment I'm long NZDJPY and AUDUSD.
Cool. Yes, I agree about the great reliability of setups where the close of Bar 3 is higher than the closes on Bar 1 and 2 (or open of Bar 1 if it’s bullish) on Long trades, and opposite on Short trades. These are as close to perfect setups as we are ever likely to see.
  • #1,175
  • Aug 20, 2019 10:18pm Aug 20, 2019 10:18pm
CRACKER of a thred/method..so many variences when you look hard and think about it
  • #1,176
  • Sep 22, 2019 11:01am Sep 22, 2019 11:01am
hello semone, I have read all of your topics, thank you for sharing a very good method, I have learned a lot from this topic, I have some questions for your help.
- If Bar 4 is higher than Bar 2, must wait for Bar 5 to be higher than Bar 1?
- If Bar 4 is higher than Bar 1, there is no need to consider Bar 5?
  • #1,177
  • Sep 26, 2019 5:35am Sep 26, 2019 5:35am
Quoting loudoniii
{quote} Cool. Yes, I agree about the great reliability of setups where the close of Bar 3 is higher than the closes on Bar 1 and 2 (or open of Bar 1 if it’s bullish) on Long trades, and opposite on Short trades. These are as close to perfect setups as we are ever likely to see.
Hey Loudoniii, I was wondering, since the two of us seem to be the only ones left here trading this particular method, would you like to exchange WhatsApp or Telegram numbers so we can discuss our trades etc.? I think we would both benefit immensely from looking over each other's shoulder. I read that you have a similar approach to mine, in that we both manually draw the levels and look for the original buy/sell setups explained in post 1, although I stick mainly to H4 and H12.

What do you say?
  • #1,178
  • Sep 27, 2019 11:06am Sep 27, 2019 11:06am
Quoting Silverwater
{quote} Hey Loudoniii, I was wondering, since the two of us seem to be the only ones left here trading this particular method, would you like to exchange WhatsApp or Telegram numbers so we can discuss our trades etc.? I think we would both benefit immensely from looking over each other's shoulder. I read that you have a similar approach to mine, in that we both manually draw the levels and look for the original buy/sell setups explained in post 1, although I stick mainly to H4 and H12. What do you say?

I'm just starting this method, are there particular currencies you find more reliable/profitable?

Why do you use the h4 and h12 over the daily?


Thanks!
  • #1,179
  • Sep 27, 2019 11:18am Sep 27, 2019 11:18am
Quoting ctdthieu189
hello semone, I have read all of your topics, thank you for sharing a very good method, I have learned a lot from this topic, I have some questions for your help. - If Bar 4 is higher than Bar 2, must wait for Bar 5 to be higher than Bar 1? - If Bar 4 is higher than Bar 1, there is no need to consider Bar 5?
Hi ctdthieu189,

Sorry I am just seeing your post. If you are referring to the 3-Candle System, the most important variables are:
1. Bars 1, 2 & 3
2. Bar 3 has a low that is lower than that of Bars 1 & 2 (Buy Setup) OR Bar 3 has a high that is higher than that of Bars 1 & 2 (Sell Setup)
3. Bar 3 most close higher than the open and or close of Bars 1 & 2 (Buy Setup) OR Bar 3 must close lower than the open and or close of Bars 1 & 2 (Sell Setup)

Hope this helps.
Hero Traders Live to see their Accounts Die!
  • #1,180
  • Sep 27, 2019 11:53am Sep 27, 2019 11:53am
Quoting CollinH
{quote} I'm just starting this method, are there particular currencies you find more reliable/profitable? Why do you use the h4 and h12 over the daily? Thanks!
I only trade the majors and this method works like a charm on all of them. I think Simone also trades cross pairs, though.

I do use the daily, but with a twist. The H4 timeframe is where I open my positions. The way I go about it is to identify the 123 pattern on H4, then I will switch to H12 and daily, look for the Best Buy/Sell level or Buy/Sell Rejection level and then I will open the position in relation to it. If I don't see any I won't take the trade. Hope that makes sense.
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