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Quad Candle System

  • #1,521
  • Oct 6, 2017 6:06am Oct 6, 2017 6:06am
Quoting Hoschie
HI Eldero, why are you thinking it is a good opportunity fo long? This is not Quad Candle approach from Masterrmind? I do not see on Daily Timeframe any long chances? At the moment we arrived on Daily Demand Zone. We need a consolidation away for any long Trade. {image}
Ciao Hoschie,
I will answer you within a couple of hours
  • #1,522
  • Oct 6, 2017 7:53am Oct 6, 2017 7:53am
Quoting Hoschie
HI Eldero, why are you thinking it is a good opportunity fo long? This is not Quad Candle approach from Masterrmind? I do not see on Daily Timeframe any long chances? At the moment we arrived on Daily Demand Zone. We need a consolidation away for any long Trade. {image}
Ciao Hoschie,
I was not clear. I meant for a long time trade, but in short direction
I have two open positions short...

The reason because I am short is based on th efollowing points

On the weekly chart, there is a trend line and price approaching it, reversed ( at least for now )

The hit point of the trend line, coincides with the 61,8% of fibo retracemente of the last bearish swing

On the daily chart, there is a clear 1 to 1 completion ( ABCD ) and then a retracemente of teh 61,8% ( of course the same retracement viewed in teh weekly chart ).
So, my expectaction is for another leg down equal to the complete ABCD

In the daily price made a double high and formed a pretty perfect quad at a good MML 8/8 +1/8

Now, it would be important to break the level of 1,67800 because at the writing moment we still are in a sequence of High-Low_High so we cannot yet consider the new trend confirmed...

Let's see, have a nice weekend to yo and to the others followers of this thread
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  • #1,523
  • Oct 6, 2017 8:10am Oct 6, 2017 8:10am
To Masterrmind

I hope during this weekend, you will re-think your decision to leave the thread
Ok, it's not so active like others threads, but I guess you agree that 10/20 valuable posts have a greater value comparing to 100/200 not useful posts
The same is for the trades. 100/200 example of trades explained after the facts happened don't cover the quality of 3/4 trades planned and discussed in advance andd in all the details as you liked to do.
You are the best opportunity that a beginning trader but also an experienced trader can meet

Don't give up, we all strongly need you guidance

Ciao, have a nice weekend!
Alberto
  • #1,524
  • Oct 6, 2017 1:32pm Oct 6, 2017 1:32pm
Quoting Eldero
To Masterrmind I hope during this weekend, you will re-think your decision to leave the thread Don't give up, we all strongly need you guidance Ciao, have a nice weekend! Alberto
Amen.

We are here and hopeful.

FS
  • #1,525
  • Oct 6, 2017 2:38pm Oct 6, 2017 2:38pm
f.a.o : Mastermind
great thread, ive started out to trade again after a gap of 9 years and forgotten most things. I am re learning now and committed to becoming a successful trader. Without your support, posting, updating and live account trading, it would make our lives 10 times more difficult, not to mention the time it would to take in extending the learning curve. Please please, re consider and come back. We can all share and post to bounce off one another. Thankyou.
Say, “He Is Allah, [Who Is] One, Allah, the Eternal Refuge.
  • #1,526
  • Oct 6, 2017 2:45pm Oct 6, 2017 2:45pm
Quoting Eldero
{quote} GBP-CHF Closed the trade with +505 pips {image}
Great Eldero!!! You're such inspirational for me. Soon i'll open a small live account and i'll start to trade... i' ll try to use this system too. Thank's Mastermind and Eldero!
  • #1,527
  • Oct 8, 2017 1:27pm Oct 8, 2017 1:27pm
USD-JPY
I am thinking to go short
I see a quad at 0/8 MML completed on Thursday and a good pinbar formed on friday that made a new high ( with false break of the mother candle of the 27sep) before closing at the minimum of the day. I would have preferred to see the quad a bit above but unfortunately price does not do what I would like
Viewing the up movement started the 8sep, I see price is loosing strenght ( see the size of the candles and the inclination o fthe curve of the up movement )
Looking at the high/low structure of the chart, I see that the sequence is high-low-lower high-new low and now is at the 78,6% of Fibo. Until a new high is not made, I will expect the price will do another low
The risk/reward is very good
I will monitor the open and in case of no gap, I will give a chance to a short entry
I will place the stop at 115,100 at approx 260 pips from the close price of Friday
Let's see
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  • #1,528
  • Edited 3:45pm Oct 8, 2017 3:03pm | Edited 3:45pm
Quoting Eldero
Until a new high is not made, I will expect the price will do another low The risk/reward is very good I will monitor the open and in case of no gap, I will give a chance to a short entry I will place the stop at 115,100 at approx 260 pips from the close price of Friday Let's see {image} {image}

You see what I see . . . and a bit more. I wouldn't be ready to enter without the pin, but it seems a reasonable risk at this point. Certainly a greater likelihood of a drop than a rise. I am still working on my SL. I would like to be less than 260 especially with the three efforts recently to go higher without success over the last 8 sessions.

This is Quad/MML trading . . . locate resistance around a higher even number (especially), let price fail to go higher and take your educated entry. Looks like an edge to me.

Thank you for your thorough explanation of your thinking, Eldero.

FS
  • #1,529
  • Oct 8, 2017 3:43pm Oct 8, 2017 3:43pm
I use this System only based on pendings (only SELL stops + BUY stops) and I got these results last month (daily TF only). To be honest I use an additional (non-repainting) indi posted here in this Forum (called "TrendWave")

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  • #1,530
  • Oct 8, 2017 3:43pm Oct 8, 2017 3:43pm
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I don't think the dynamic trendline is especially helpful to us tonight, but it's on my chart.

The thick green line should be 1.5 octaves above the Friday close. Note it is a little short of BRN 115. I would be willing to move it slightly over the 115 which puts me right about where your (Eldero) SL of 260 would be.

Note the recent high of 114.49. I wouldn't like to see that taken out.

Ignore my BB lines. Not part of Quad-MML.

IF the W1 high is in it shows declining HHs.

I think this is a trade.

FS
  • #1,531
  • Oct 8, 2017 3:47pm Oct 8, 2017 3:47pm
Quoting DerBerliner
I use this System only based on pendings (only SELL stops + BUY stops) and I got these results last month (daily TF only). To be honest I use an additional (non-repainting) indi posted here in this Forum (called "TrendWave") {image}

Very nice results. I was wondering how many trades your entered over this period to earn your nearly 8%?
  • #1,532
  • Oct 8, 2017 4:06pm Oct 8, 2017 4:06pm
Quoting Forest-Sea
{quote} Very nice results. I was wondering how many trades your entered over this period to earn your nearly 8%?

Not so much, all in all 32 trades (using all non-exotic pairs Global Prime is offering) - had approx. 20 pendings not filled as well. Closed at friday all trades getting a basket of 100 EUR this day. That was enough for me. I use only quads formed after Long Trends ending up in the 8/8 or 0/8 MM lines and thus preparing the Formation of a "V" Chart pattern. I look for quads exclusively in the extrem regions of the MM lines waiting for the exhausting Trends.
  • #1,533
  • Oct 8, 2017 4:16pm Oct 8, 2017 4:16pm
Quoting Forest-Sea
{image} I don't think the dynamic trendline is especially helpful to us tonight, but it's on my chart. The thick green line should be 1.5 octaves above the Friday close. Note it is a little short of BRN 115. I would be willing to move it slightly over the 115 which puts me right about where your (Eldero) SL of 260 would be. Note the recent high of 114.49. I wouldn't like to see that taken out. Ignore my BB lines. Not part of Quad-MML. IF the W1 high is in it shows declining HHs. I think this is a trade. FS
Yes, I agree. The break of the recent high would change the plan. I am in the trade with 1 position. My stop is at 115.100...let's see
  • #1,534
  • Oct 8, 2017 4:20pm Oct 8, 2017 4:20pm
Quoting DerBerliner
{quote} Not so much, all in all 32 trades (using all non-exotic pairs Global Prime is offering) - had approx. 20 pendings not filled as well. Closed at friday all trades getting a basket of 100 EUR this day. That was enough for me. I use only quads formed after Long Trends ending up in the 8/8 or 0/8 MM lines and thus preparing the Formation of a "V" Chart pattern. I look for quads exclusively in the extrem regions of the MM lines waiting for the exhausting Trends.
Good result...32 trades in a month is a large number...on which time frame your trades are taken?
  • #1,535
  • Oct 8, 2017 4:28pm Oct 8, 2017 4:28pm
Quoting Eldero
{quote} Yes, I agree. The break of the recent high would change the plan. I am in the trade with 1 position. My stop is at 115.100...let's see
Spread too high for another couple of hours on Oanda. It will fall as Tokyo open approaches, and I expect to enter then.
  • #1,536
  • Oct 8, 2017 4:36pm Oct 8, 2017 4:36pm
My View ? but I would only be looking to Sell, I would only use 40pip risk
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  • #1,537
  • Oct 8, 2017 4:50pm Oct 8, 2017 4:50pm
Quoting Eldero
{quote} Good result...32 trades in a month is a large number...on which time frame your trades are taken?
I use for my Manual trading only the daily TF.

Btw the USDJPY is actually for me a candidate as well, would set a sell stop at 112.20. (That number is highly subjective !)
  • #1,538
  • Oct 8, 2017 8:26pm Oct 8, 2017 8:26pm
Quoting OAPDave
My View ? but I would only be looking to Sell, I would only use 40pip risk {image}
Right, I hope we are all only considering a sell. I'm in short at 57.

Fascinated by your risk of 40 only. Please share your thinking. Have you kept your stops this kind of tight on most of your D1 Quad/MML entries? Honestly this is what spooks me . . . I know there are some big rewards to risk possibilities out there selling form 8 or above or buying from 0 or under . . . but, wow, those potential octave and a half SLs!

At about 40 for a SL that runs you up to just under 113. Is this a MTF decision or view? There is some past (recent) resistance around 113, but it doesn't seem too convincing.

This is how we learn. Please share from your experience and logic on this potential SL. An argument would surely be we just don't have this right if it travels up to or over 113. It's going down but not right now.

Thanks for sharing your valued view OAPDave. You are a Master around here.

Best regards, FS
  • #1,539
  • Oct 9, 2017 4:00am Oct 9, 2017 4:00am
We have lost the True Master of this thread, I did make several posts asking for more guys to support the thread, that did not happen so we have only ourselves to blame.
My view is rather simple and basic in that I try to form an opinion of Octave acceptance or rejection, hence my preference for Xard777 Murrey platform the reason being he has divide each Octave level by showing 2/8ths levels, from this I just look to see how price is playing out, to me its easy to form a good RR plan, yes some Octave levels will be a little better to play from than others Masterrmind highlights the OB/O/S areas which make complete sense. I favour small stabs at trying to get my 1st entry correct because I use a decent pip value (within Masterminds M/M plan) I do not trade like Eldero who by the way is a top guy with showing his charts and reasons for taking a trade and cannot be faulted its just his MM that I am not keen on, to me the 1st entry is the important one so that's were I want the bulk of my pip value, their for in general I agree with your last paragraph of your post.
To sum up I believe in Murrey using a Daily set to 64 and am willing to take lots of small stabs at finding my 1st trade entry, if I am wrong looking to trade from the OB/OS levels it will in general cost me 3 stabs then do a chat shift and that in its self says I am wrong and we have broke out to go on the next leg
My money-management or risk/reward is set in stone as its very mechanical at my levels of interest I can place orders stops and targets in the markets, using my risk capital efficiently and by planning my trades just walk away
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  • #1,540
  • Oct 9, 2017 4:18am Oct 9, 2017 4:18am
Quoting OAPDave
We have lost the True Master of this thread, I did make several posts asking for more guys to support the thread, that did not happen so we have only ourselves to blame. My view is rather simple and basic in that I try to form an opinion of Octave acceptance or rejection, hence my preference for Xard777 Murrey platform the reason being he has divide each Octave level by showing 2/8ths levels, from this I just look to see how price is playing out, to me its easy to form a good RR plan, yes some Octave levels will be a little better to play from than...
Ciao OAPDave, very good post
It's true, my trading style seems different from yours, but your thought to catch the first entry with a small risk makes sense to me. I will go deeply into your method, because, it would be possible to combine your with mine. Maybe also for the additional entries, your way could give the opportunity to add with limited risk.
For me, the main points are :
Run the trend with as more as possible positions
Keep the risk limited, securing on the way the ground gained
Of course, not easy to do

I am not sure my thought and your is so different
I am happy you are here again
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