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Quad Candle System

  • #641
  • Jul 5, 2017 8:57am Jul 5, 2017 8:57am
Quoting Eldero
{quote} Ok, ok no problem. I am happy to have misunderstood...my bad English is a trap for me I am sure we will have great benefits following this thread and you probably are the most useful member, of course after Masterrmind
Thank you, I am well pleased we have that sorted.
  • #642
  • Jul 5, 2017 6:47pm Jul 5, 2017 6:47pm
Quoting Eldero
{quote} My comment was per CAD-JPY For Eur-JPY yes, the stop would be too high....I like your chart with your expectation but I would like to ask you if you think it could be ok as well to have the expectation like the chart I am attaching. I like the level of the retracement that is exactly at 61,8%... {image}
Yes ofcourse.

My fibs of focus are 61.8, 78.6 and 88.6.

The idea is to look at price reactions close to these ratios.

But confluence should also be sought looking for aggreement from other key trading factors.

Masterrmind.........
Master your Mind then Master your Trades
  • #643
  • Jul 5, 2017 8:49pm Jul 5, 2017 8:49pm
I notice that many (most of) the traders applying this method are geeared more towards an almost purely technical approach.

Traders can be successful as pure technicians.

Traders can be successful as pure fundamentalists.

However, a trader who applies correctly both the technical and the fundamental (assuming risk and trade management are in check) stands to do far better in my opinion.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

I may provide some dot points on the type of thinking that goes into the fundamental side of the analysis on a future entry.

Be sure to keep a look out for this as I will highlight the key considerations.

My purpose is to provide the fundamental analysis component prior to a live entry that also meets 'most' of the other technical criteria for a valid D1 entry.

ps. A trader will still perform well using only the technical part provided their risk and trade management plans are solid.

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #644
  • Jul 6, 2017 2:45am Jul 6, 2017 2:45am
i don't like the the fudamentalal side to it but I know its just as important as the technical side,your dot points will be most welcomed ,mastermind
  • #645
  • Jul 6, 2017 8:15am Jul 6, 2017 8:15am
A little quite today so I will post this, Nzd/Cad started with a Quad to be honest the size would bother me, took a fair while to get going, but today I spotted the 2nd failed up day so decided to take the sell as it seems to be in a nice down trend now, did not spot it until today or with hindsight should have taken the 1st one shown at the failed re-test of 4/8ths, all in all very late to the party so will have to see ?
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCADSBDaily.png Size: 65 KB
  • #646
  • Jul 6, 2017 8:52am Jul 6, 2017 8:52am
Quoting OAPDave
A little quite today so I will post this, Nzd/Cad started with a Quad to be honest the size would bother me, took a fair while to get going, but today I spotted the 2nd failed up day so decided to take the sell as it seems to be in a nice down trend now, did not spot it until today or with hindsight should have taken the 1st one shown at the failed re-test of 4/8ths, all in all very late to the party so will have to see ? {image}
The Quad you have highlighted on the chart shows a 4th candle with a large range relative to the others in the Quad pattern.

Quite often price will pullback after this type of candle.

Its a good example regarding awareness of large range candles.

Its also strange how the setups taken have been from pairs rarely traded such as CHF and CAD.

Pips are pips though no matter where they come from.

All the best if you decide to trade NZDCAD.

Masterrmind.........
Master your Mind then Master your Trades
  • #647
  • Jul 6, 2017 9:01am Jul 6, 2017 9:01am
Quoting Masterrmind
{quote} The Quad you have highlighted on the chart shows a 4th candle with a large range relative to the others in the Quad pattern. Quite often price will pullback after this type of candle. Its a good example regarding awareness of large range candles. Its also strange how the setups taken have been from pairs rarely traded such as CHF and CAD. Pips are pips though no matter where they come from. All the best if you decide to trade NZDCAD. Masterrmind.........
Think you know I usually trade the Gbp, but with this Brexit thing I am not to comfortable, so I am a little like a duck out of water at the moment trying to find a pair that I can get to grips with, so guilty of banking quick given the chance
  • #648
  • Jul 6, 2017 4:47pm Jul 6, 2017 4:47pm
Mastermind I have caught you red handed, you have made and are releasing the magic Red button Green button Mastermind auto Indicator that fills your account with green pips once pressed, just skip all the sales blurb and go straight to 22min30seconds of the video and there you are in London on July 21st, I would have like to have met you but I am afraid you have priced out of my range. hahahahahahahaha
https://magnetictrading.com/magnetic...e-copy-3-copy/
  • #649
  • Jul 6, 2017 6:56pm Jul 6, 2017 6:56pm
Quoting OAPDave
{quote} Think you know I usually trade the Gbp, but with this Brexit thing I am not to comfortable, so I am a little like a duck out of water at the moment trying to find a pair that I can get to grips with, so guilty of banking quick given the chance
With you being a GBP trader you've had to take on an extra level of care considering Brexit.

Good news is that there are many other currencies to choose from, only need to find the right one.

Masterrmind........
Master your Mind then Master your Trades
  • #650
  • Jul 6, 2017 8:51pm Jul 6, 2017 8:51pm
CADJPY
Quad formed near Extreme MMLs but there is still room for more movement to the upside.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 55 KB

Pullback to the upside in action so an opportunity to get into the short side at a better price.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 50 KB

Note how the 1 to 1 harmonic completed near the 86.940 mark but kept moving up without reversing. Why ?
Check the chart structure for a possible answer.

Now look for confluence between the 127.2 and also the 161.8 exhaustion levels with chart structure.

Form an opinion and make the trade for the 'stronger' case.

Risk Outlook:

Octive Gap is about 78 pips.

1. Friday entry (weekend gap possibility)
2. Bulls could keep taking price up higher
3. How far can price drive up the chart before you decide its time to get out.
4. Where would your SL go ?
5. TP ?
6. CAD currency sentiment
7. JPY currency sentiment

Trade or not trade this pair today ?

Masterrmind..............
Master your Mind then Master your Trades
  • #651
  • Jul 6, 2017 9:08pm Jul 6, 2017 9:08pm
EURJPY

Price continues to head up higher.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 42 KB

Masterrmind.............
Master your Mind then Master your Trades
  • #652
  • Jul 6, 2017 9:13pm Jul 6, 2017 9:13pm
What about this information ?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 54 KB

Masterrmind.............
Master your Mind then Master your Trades
  • #653
  • Jul 6, 2017 9:15pm Jul 6, 2017 9:15pm
Strive for CONFLUENCE in your trading.

Masterrmind............
Master your Mind then Master your Trades
  • #654
  • Jul 7, 2017 4:08am Jul 7, 2017 4:08am
Quoting Masterrmind
I notice that many (most of) the traders applying this method are geeared more towards an almost purely technical approach. Traders can be successful as pure technicians. Traders can be successful as pure fundamentalists. However, a trader who applies correctly both the technical and the fundamental (assuming risk and trade management are in check) stands to do far better in my opinion. +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ I may provide some dot points on the type of thinking that...
Hi Masterrmind,

In the present regime of uniform low interest rates, similar economic conditions, the economic fundamental are being driven by data rather than anything else.
It is therefore essential to pay attention to the outcomes of the data events .It is worth taking data events into consideration while plotting trades possible movements with RR , SL and TP. If , on the same day, more than two events are involved affecting the same pairs, it is worth visualising how they will react and pullback or reverse or continue in same direction.
Practice makes a person perfect
  • #655
  • Jul 7, 2017 4:18am Jul 7, 2017 4:18am
Quoting Masterrmind
EURJPY Price continues to head up higher. {image} Masterrmind.............
The fact that creates me doubts is the strenght of the upside movement. Yes, it completed the 1 to 1 completion, but from the strenght of the momentum up, I would not be surprised if the completion would reach the 127,2 or 161,8% that would also correspond approx to the major swing ( you can easily see it in the weekly chart ). I usually prefer to enter when the contrary movement demonstrates weak and at the moment I don't see it. If I should enter, I would probably put a pretty close stop. But it is not part of this strategy, so I decided to wait and if the movement continue but loosing momentum, I will eventually try to look for a possible entry
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYWeekly.png Size: 48 KB
  • #656
  • Jul 7, 2017 6:04am Jul 7, 2017 6:04am
@oapdave,i had a look at that video you posted for a laugh,seriously people who promote crap like that need locking up...
  • #657
  • Jul 7, 2017 6:10am Jul 7, 2017 6:10am
correct me if I'm wrong ,but the more I look into murrey math is you are trading of the lines,so isn't fundamentals, less important? thanks in advance
  • #658
  • Edited 7:02am Jul 7, 2017 6:26am | Edited 7:02am
Quoting nozzer
correct me if I'm wrong ,but the more I look into murrey math is you are trading of the lines,so isn't fundamentals, less important? thanks in advance
If I gave you my thoughts on that, Mastermind would hang draw and quarter me, to be fair it just depends on how long you want to hold the trade and how many pips you shoot for. My in box gets full everyday on videos and systems like that, it just amused me when they tagged the word Mastermind to there July 21st event, so thought that I would have a laugh with our Mastermind and show him that he is famous, the only thing I can say is that all these guys that peddle this stuff have to give more and more away free to tempt new members, if you google one of the guys he started by trading the gaps in the index's lots of guy jumped on that band wagon afterwards. To be honest if I had the nerve it would be a little more profitable to fill a room full of guys spin them something and collect that sort of money, more so if I truly believed in what ever my method was, of which you can see its Murrey for me, but the truth being its not the Holy Grail and that's what ever body wants, hence just post my thoughts free of charge. I must be one of the only guys left that as no axe to grind about anybody that shows me a method be it whatever, that charges or gives it away free.
Mastermind is a real top guy and I have nothing but admiration for him on his trading thoughts and how he runs this thread but do admit to finding trades harder to take as the thread gets more and more complex, but hey if there is an Holy Grail to trading he will be the guy to find it
  • #659
  • Jul 7, 2017 7:13am Jul 7, 2017 7:13am
@Dave,im a great believer in Karma,all those guys who peddle that crap in those types of videos get what is coming to them,what gos around comes around...
  • #660
  • Jul 7, 2017 7:25am Jul 7, 2017 7:25am
Quoting nozzer
@Dave,im a great believer in Karma,all those guys who peddle that crap in those types of videos get what is coming to them,what gos around comes around...
They get lots of money, haha, never went to uni infact when I left school there was none but the guy that teaches you the subject gets paid, do you know at the time if it right or wrong, you just believe its right cause your at uni, enough said now lets get back to trading NFP in a few minutes
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