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Quad Candle System

  • #1,381
  • Sep 20, 2017 5:49am Sep 20, 2017 5:49am
Quoting Masterrmind
{quote} Plenty of confluence. On a side note ... see the low in between your 2 red projection lines (AB and CD legs). Just be sure to place the low of the CD leg at the deepest pullback level which is actually the middle low not where you have it drawn. However, it is perfectly ok to slide the CD leg across to the right side of your chart provided the C&D Points remain anchored at same price levels. From a projection point of view it makes very little difference on this chart because the pullbacks are almost at the same price anyway. I hope you...
yes, I noted it...I put the CD leg on the 1/8 MML and placed it further in the chart because the last up movement have the same inclination of the AB leg and it seems more armonic. In case of small difference and especially when the difference is a spike, I would tend to consider also other factors to decide where the CD leg begins. In this case the inclination made me decide for the second swing although not exactly the minimun. Anyway, you are completely correct and your expert eye quickly noted my "mistake". Thank you Masterrmind
  • #1,382
  • Sep 20, 2017 6:03am Sep 20, 2017 6:03am
Quoting Eldero
{quote} yes, I noted it...I put the CD leg on the 1/8 MML and placed it further in the chart because the last up movement have the same inclination of the AB leg and it seems more armonic. In case of small difference and especially when the difference is a spike, I would tend to consider also other factors to decide where the CD leg begins. In this case the inclination made me decide for the second swing although not exactly the minimun. Anyway, you are completely correct and your expert eye quickly noted my "mistake". Thank you Masterrmind
All good.

Masterrmind............
Master your Mind then Master your Trades
  • #1,383
  • Sep 20, 2017 6:14am Sep 20, 2017 6:14am
Quoting Masterrmind
{quote} You should not concentrate on my trading account balance but rather focus on the methods shown in this thread. Then you will understand that the starting balance is not important but rather how successfully you can or cannot apply the techniques. Masterrmind..........
?! ok...peace .
  • #1,384
  • Sep 20, 2017 7:30am Sep 20, 2017 7:30am
Quoting Masterrmind
{quote} USDJPY [M15 Chart] {image} Now long. Risk <1% Masterrmind.............
UJ [M15 Chart]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 62 KB

Plenty of patience shown but price showing signs of struggling to breakout and keep heading up the chart.

Bullish intent simply not present and the risk of a reversal to the downside becomes more probable.

Note that my long entry was also a little on the aggressive side since the harmonic had not yet completed.

Decided to close out of the position for a few pips.

There will be other trades.

ps. an embarassing pip count but that's how it goes sometimes until the trade takes off then its a different story altogther.

Masterrmind...........
Master your Mind then Master your Trades
  • #1,385
  • Sep 20, 2017 9:16pm Sep 20, 2017 9:16pm
Quoting OAPDave
{quote} 2 charts Even to Even & Odd to Odd ? Thinking on the lines of what line (Odds or Even) do we enter the new day on, this is not a MM64 {image} {image}
For the M15/M5 MML System I tend to like 2 octive gaps (sometimes more) making up the ADR of a given symbol.

Although I trade from various configurations I dislike in general for an octive gap to be less than about 20 pips (there are exceptions).

In the case where the octive gap is 20 pips I would seek a setup capable of producing at least 1 to 2 octives of profit.

This suggests that a 2 to 1 reward to risk setup would still yield 40 pips which is about half of an average pairs ADR.

For example, EU currently has an ADR (88), GU (96), UJ (89) with the volatiles being much higher again.

I'm chasing about 50% of the ADR of a given symbol as a potential profit level for an intraday setup on the M15 TF.

Trades taken from an MML and hitting the target would then represent about 50% of the ADR which is a nice move in my opinion.

Opening an M15 Chart and zooming out to show a bar chart and a chart history of say a weeks data (5 trading days) the MML settings can be adjusted to form a 'tradeable' MML grid.

The MMLs create the horizontal levels and the daily period separators the vertical levels.

Something like in the following chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 59 KB

The task ahead is to predict the likely reversal zones and continuation zones in advance of the fact!

Now we can start to see how the PA running across the chart aligns with the various MMLs on an intraday basis, no good if it runs beyond a daily trading period because for intraday we want to be in and out of the trade most of the time on the same day.

This MML grid can then be projected into the future and used to make trading decisions in confluence with other key factors.

We seek 2 general setups:

1. Reversal Trade from an MML; or

2. Continuation Trade from an MML

We seek only 1 outcome:

1. TP hitting a minimum of the next full octive gap

Conditions:

1. TP >= minimum 20 pips (not including trade management outcome)
2. SL preferably an octive gap or realistic and reasonable chart location
3. TP >= SL (1 to 1, 2 to 1 etc)
4. Setup fitting within the ADR
5. Confluence (as per Post 1 not including Quads)

Food for thought!

Masterrmind...........
Master your Mind then Master your Trades
  • #1,386
  • Sep 20, 2017 9:29pm Sep 20, 2017 9:29pm
Quoting Masterrmind
{quote} For the M15/M5 MML System I tend to like 2 octive gaps (sometimes more) making up the ADR of a given symbol. Although I trade from various configurations I dislike in general for an octive gap to be less than about 20 pips (there are exceptions). In the case where the octive gap is 20 pips I would seek a setup capable of producing at least 1 to 2 octives of profit. This suggests that a 2 to 1 reward to risk setup would still yield 40 pips which is about half of an average pairs ADR. For example, EU currently has an ADR (88), GU (96), UJ...
The EURUSD is both a good and a bad example in the post above.

Plenty of reversals occur but then along comes some key data and instead of moving 1 octive gap it blasts through 5 in the same day.

An MML reset also might need to be considered and how this might impact the octive trading gap.

Trading is an interesting venture so many twists and turns sometimes you wonder how its possible to make it through to the other side.

Good trading.

Masterrmind............
Master your Mind then Master your Trades
  • #1,387
  • Sep 20, 2017 9:35pm Sep 20, 2017 9:35pm
Quoting Masterrmind
{quote} For the M15/M5 MML System I tend to like 2 octive gaps (sometimes more) making up the ADR of a given symbol. Although I trade from various configurations I dislike in general for an octive gap to be less than about 20 pips (there are exceptions). In the case where the octive gap is 20 pips I would seek a setup capable of producing at least 1 to 2 octives of profit. This suggests that a 2 to 1 reward to risk setup would still yield 40 pips which is about half of an average pairs ADR. For example, EU currently has an ADR (88), GU (96), UJ...
EURUSD [M15 Chart]
P=64
MMP=0
StepBack=0
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 52 KB

Same levels as per the chart in the post above..

Masterrmind............
Master your Mind then Master your Trades
  • #1,388
  • Sep 20, 2017 9:42pm Sep 20, 2017 9:42pm
After all is analyzed it all boils down to a simple question.

Do you go short or long from a given MML in order to hit the next MML zone ?

The million dollar question.

For the EU pair as it sits now I could favor the long side so I'd go for a TP at the 2/8 MML.
This is based on support and the fact that price has already bounced up and hit the 2/8 MML so why wouldn't price hit it again ?
However the 0/8 MML is the next one below entry so the lows could be tested couldn't they ?.

Makes you start to think does it not ?

Masterrmind............
Master your Mind then Master your Trades
  • #1,389
  • Sep 20, 2017 11:57pm Sep 20, 2017 11:57pm
AUDUSD [M15 Chart]

On my watch list
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 49 KB

Support (but will it hold)
Fib (but will price reverse from current zone)
MML (4/8 central pivot)
Psych level (80 handle)

Check an M5 TF for additional PA however, based on the support levels do you really think it will add any value at this stage ?

Usually I will check the M5 TF just prior to an anticipated entry simply to attempt a better entry into the market.

But that's all you can do because once you enter the market, it can drive you into DD at will.

All we need is buyers to come in and drive it up the chart.

Masterrmind...........
Master your Mind then Master your Trades
  • #1,390
  • Sep 21, 2017 2:12am Sep 21, 2017 2:12am
Quoting Masterrmind
AUDUSD [M15 Chart] On my watch list {image} Support (but will it hold) Fib (but will price reverse from current zone) MML (4/8 central pivot) Psych level (80 handle) Check an M5 TF for additional PA however, based on the support levels do you really think it will add any value at this stage ? Usually I will check the M5 TF just prior to an anticipated entry simply to attempt a better entry into the market. But that's all you can do because once you enter the market, it can drive you into DD at will. All we need is buyers to come in and drive it...
AUDUSD [M15 Chart]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 52 KB

Clearly support did not hold.

Patience pays in this situation.

NO buyers present at this stage.

ps. these missing candles are driving me crazy on MT4.

Masterrmind............
Master your Mind then Master your Trades
  • #1,391
  • Sep 21, 2017 2:14am Sep 21, 2017 2:14am
Quoting Masterrmind
AUDUSD [M15 Chart] On my watch list {image} Support (but will it hold) Fib (but will price reverse from current zone) MML (4/8 central pivot) Psych level (80 handle) Check an M5 TF for additional PA however, based on the support levels do you really think it will add any value at this stage ? Usually I will check the M5 TF just prior to an anticipated entry simply to attempt a better entry into the market. But that's all you can do because once you enter the market, it can drive you into DD at will. All we need is buyers to come in and drive it...
Thank you, superb read and lots of thoughtful comments and chart examples
  • #1,392
  • Sep 21, 2017 2:28am Sep 21, 2017 2:28am
Quoting OAPDave
{quote} Thank you, superb read and lots of thoughtful comments and chart examples
The next big hurdle is to actually find something to trade.

The USD is not on my radar for shorting at this stage, the data has been fairly good and the Fed is hinting at a rate hike.

All these lead to USD strength, sure pullbacks here and there will occur but overall UP.

So although on MML the USD pairs (some of them) are floating around up high in the extreme zones I'm hesitant to short.

In my view a continuation up the chart might be an option.

At least there are multiple other pairs to choose from so lets see.

Masterrmind.............
Master your Mind then Master your Trades
  • #1,393
  • Sep 21, 2017 2:33am Sep 21, 2017 2:33am
What a day for data !
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 48 KB

Times are in GMT+10 (sorry).
Most of that data would have been on a Wednesday for the majority of the traders in FX.

With all that data its reason enough to be careful !

Masterrmind..........
Master your Mind then Master your Trades
  • #1,394
  • Sep 21, 2017 3:16am Sep 21, 2017 3:16am
Quoting Masterrmind
MT4 Issues. Any other trader having these problems. H4 TF {image} H4 TF (after manual refresh) {image} M1, M5, M30, H1 as above (all with refresh candle issues) M15 - appears that 1 candle will not update no matter how often the manual updates occur. D1, W1 and MN all ok. I have to go through every TF and refresh the charts manually. So far all TFs update after the refresh (10 seconds) except M15 (1 candle issue). The only TF that will not update either auto or manually is the M15 TF. Masterrmind............
Nope mine ok at the minute, the only problem I am having is the price is going the wrong way,
  • #1,395
  • Sep 21, 2017 3:17am Sep 21, 2017 3:17am
Quoting OAPDave
{quote} Nope mine ok at the minute, the only problem I am having is the price is going the wrong way,
Master your Mind then Master your Trades
  • #1,396
  • Sep 21, 2017 4:38am Sep 21, 2017 4:38am
Short GA.

Risk 0.6%.

Masterrmind...........
Master your Mind then Master your Trades
  • #1,397
  • Sep 21, 2017 4:43am Sep 21, 2017 4:43am
Quoting Masterrmind
Short GA. Risk 0.6%. Masterrmind...........
GA

Closed out for a few pips just before a bounce up from the 7/8 MML on M5 TF
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 52 KB

Just a small scalp trade, in and out fast.

Masterrmind............
Master your Mind then Master your Trades
  • #1,398
  • Sep 21, 2017 5:22am Sep 21, 2017 5:22am
Hi Masterrmind,

but this not quad candle method what you did with the shortening of the GA?

Kind regards,
Hoschie
  • #1,399
  • Sep 21, 2017 6:00am Sep 21, 2017 6:00am
Quoting Masterrmind
M15/M5 MML System This method uses the same template as the D1 Chart which can be found in the zip folder of Post 1. The method is geared more towards intraday type trades with exits usually the same day (with exceptions). It uses most trading techniques shown throughout this thread. The Chart: {image} Settings: TF = M15 or M5; P = 64 (may vary depending on PA for given symbol) MMP = 0 (may vary depending on PA for given symbol) Stepback = 0 (may vary in rare situations) Things to be aware of: 1. The value of the Octive Gap 2. The 64 period ADR...
Think Masterrmind is trying to generate a little more interest and feedback to the thread and his Trading Methods, seems what ever he posts he still does not having much luck though, taking a guess think the days are numbered now
  • #1,400
  • Sep 21, 2017 6:32am Sep 21, 2017 6:32am
Quoting Hoschie
Hi Masterrmind, but this not quad candle method what you did with the shortening of the GA? Kind regards, Hoschie
I am trading 2 systems.

System 1 is the D1 Quad Candle System.

System 2 is the M15/M5 MML System.

The GA trade was a short entry from the extreme zone on an M15 down to M5 TF.

The setup was risky so not worthy of a chart.

The idea was to trade to the bottom of this top 40 pip channel and take a few pips.

The PA became unconvincing closer to the 7/8 MML.

Trade therefore closed for a little profit.

The M15/M5 MML System does not use Quad patterns.

You could say that the GA short was the type of trade to take inbetween intraday M15 setups.

Hope that helps.

Masterrmind........
Master your Mind then Master your Trades
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