Quad Candle System

Quoting simnz

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{quote} 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....

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Quoting OAPDave

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{quote} 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...

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Quoting Masterrmind

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{quote} I think the 'holy grail' is hidden deep inside every one of us traders. We only need to tap into it and follow a flawless risk and trade management plan. Unfortunately retail traders also face the black swan and flash crash events. Although fairly rare in their appearance they can strip away much of the gained trading profits in a heartbeat. If you think a hard SL solves or limits the loss, please think again .... slippage on a highly leveraged account can magnify losses. This falls generally into the class of risk management, it is a possibility,...

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Quoting pet3250

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Thanks again MasteRRmind and oap Dave, I am really enjoying learning from this thread and have gained a lot of knowledge and further understanding from it. Thank you both for your time and effort.

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Quoting OAPDave

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{quote} In a funny sort of way you have just highlighted a point that I am very embarrassed about, my charts are as near to clutter free as I can get them so this lets me see just enough to make trading decisions but I have to confess that until you have highlighted that you spell Masterrmind with 2 r's I never noticed, that as worried me to the fact that even on a clutter free chart I may be missing something, does not bode well for me if I have to let my brain by itself have to make a trading decision based on fundamentals, think it may be time...

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Quoting nozzer

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@OAP Dave,did you hold the NZD/CAD over the weekend or did you fold?

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Quoting Masterrmind

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EURGBP [D1 QUAD] {image} Notes: Quad suggesting potential long side MML suggesting potential short side Chart structure suggesting reversal to the short side Fundamentals suggesting ??? for EUR Vs GBP (also consider eurusd & gbpusd) 1. It is ok to go long off a Quad Long which is against an extreme MML 2. It is ok to go short off a Quad Short which is against an extreme MML 3. Or vice-versa trading off an extreme MML contrary to a Quad however be sure to have good reasons and be able to justify them. Masterrmind.............

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Quoting OAPDave

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{quote} Not one for me with Brexit talks but this is how I would have played it ? {image}

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Quoting Masterrmind

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CADJPY Quad formed near Extreme MMLs but there is still room for more movement to the upside. {image} Pullback to the upside in action so an opportunity to get into the short side at a better price. {image} 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...

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Quoting Masterrmind

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{quote} CADJPY {image} Notice that a Quad Long is a possibility if todays D1 candle closes higher than the open price. However, would trading this pair long after completion of the Quad Pattern be a sound trading decision ? Quad-MML teaches patience that leads to potentially better trade decisions. Perhaps there are traders out there who took the short at the previous Quad Short completion neaer the 8/8 MML. This is where confluence comes to the rescue. But how I hear you ask ? This is how ? Simple harmonic projections of recent legs to the upside...

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Quoting Masterrmind

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{quote} CADJPY {image} This pair is a possibility for an MML short. USDCAD {image} USDJPY {image} JPN225 {image} Worth a look in my opinion but do the analysis. Masterrmind.............

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Quoting OAPDave

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{quote} Accepted that we trade this method from a Daily perspective but if fundamentals are to be considered would it be worthwhile looking at a Weekly or even Monthly to aid our decisions

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Quoting Masterrmind

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{quote} HTFs are certainly useful for looking at projected levels into the future. I think the MN MMLs provide an outlook forsure. The danger is attempting to go too far out in the future and applying stops based on say a MN chart which are simply too large to apply. As for projected TPs I see no problem since trading a D1 chart is often going to coinicide with say the next MN MML octave either up or down the chart. Masterrmind.............

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Quoting OAPDave

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{quote} In respect of confluence of timeframes (M, W and D) of the charts you have shown I think Jpn 225 looks interesting

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