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Quad Candle System

  • #1,541
  • Oct 9, 2017 2:33am Oct 9, 2017 2:33am
Quoting Eldero
{quote} 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...
Only posted because of your fantastic posts and efforts to keep the thread alive, you have a few followers lets hope they grow in numbers and just maybe the great guy Masterrmind will come back
Just to put it on record I do not use the Quad pattern (2up 2down) reason being I have 2 different brokers hence 2 different Daily start times only a small 2 hour difference but its a difference all the same, and it requires much bigger stops than I am happy with, that said I do endorse the method just stick to one brokers charts
Your the main man now so good luck
  • #1,542
  • Oct 9, 2017 2:53am Oct 9, 2017 2:53am
Quoting OAPDave
{quote} Only posted because of your fantastic posts and efforts to keep the thread alive, you have a few followers lets hope they grow in numbers and just maybe the great guy Masterrmind will come back Just to put it on record I do not use the Quad pattern (2up 2down) reason being I have 2 different brokers hence 2 different Daily start times only a small 2 hour difference but its a difference all the same, and it requires much bigger stops than I am happy with, that said I do endorse the method just stick to one brokers charts Your the main man...
I also hope that Masterrmind will come back...I just want to be one of the followers participating to the discussion
Just downloaded the Xard777 indicator with babylines. I will look at those smaller levels to see if I can improve my strategy. Thank you
I wish you all the best
P.S.: I will probably disturb you for some more info to better understand your trading way
  • #1,543
  • Oct 9, 2017 3:04am Oct 9, 2017 3:04am
Quoting Eldero
{quote} GBP-AUD Friday and red news arriving...it's no time to risk anymore I think GBP-AUD is a good opportunity for a long trade and my wish is to run it with multiple positions After I saw a good momentum, I opened two additional positions after my first one between the 4th and 5th Oct. To be honest, i think that I was too aggressive. This time, things went well, but I am not sure to have handled the trade in the right way At this point, I want to be wise and try to correct my trade For this reason, I closed a position with 53 pips profit I put...
GBP-AUD
My two living positions have been stopped out
Ok, I tried to run a possible down trend with 3 positions, but it was not possible
Luckily I could move to break even the positions ( one with +53; one with -53 and one with +2 pips )
The today candle, at least for now, is very bullish and it is saying that the bullish trend seems to resume
I am curious to see how it evolves
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDDaily.png Size: 66 KB
  • #1,544
  • Oct 9, 2017 4:17am Oct 9, 2017 4:17am
The True Master probably should be called the Grand Master.

Thank you for your clear description of strategy from your perspective. As with Eldero, I am downloading the Xard version of MML which I previously just saw as cluttering. This is how forums help!

While you may have capped Eldero as the Main Man (bravo to Eldero for his great efforts on the forum), but you are surely a starting 'striker' on this team.

Here is hoping we can slowly build things up.

FS
  • #1,545
  • Oct 9, 2017 4:21am Oct 9, 2017 4:21am
Quoting OAPDave
We have lost the True Master of this thread, {image}
Let's hope we are talking about a sabbatical, not departure.
  • #1,546
  • Oct 9, 2017 4:53am Oct 9, 2017 4:53am
Quoting OAPDave
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) {image}
Does this suggest you trade with the bias (e.g.. down from OB, up from OS) after price has moved down and below your white box defining an octave level + and - the 2/8 mini-box within the whole octave?

In other words, you need price to exit the white box around the octave level prior to entry?
  • #1,547
  • Oct 9, 2017 5:37am Oct 9, 2017 5:37am
Quoting OAPDave
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) {image}
Does this suggest you trade with the bias (e.g.. down from OB, up from OS) after price has moved down and below your white box defining an octave level + and - the 2/8 mini-box within the whole octave?

In other words, you need price to exit the white box around the octave level prior to entry OR is it just to get price into the box and trade with the bias [if ob, short, etc]?

FS
  • #1,548
  • Oct 9, 2017 6:05am Oct 9, 2017 6:05am
Quoting OAPDave
{quote} Only posted because of your fantastic posts and efforts to keep the thread alive, you have a few followers lets hope they grow in numbers and just maybe the great guy Masterrmind will come back Just to put it on record I do not use the Quad pattern (2up 2down) reason being I have 2 different brokers hence 2 different Daily start times only a small 2 hour difference but its a difference all the same, and it requires much bigger stops than I am happy with, that said I do endorse the method just stick to one brokers charts Your the main man...
Let's see if I have understood something form your method
GBP-USD
Price is approching the 4MML ( ok, the OB-OS would be better, but also the 4MML is an interesting level and this is just an example to understand ).
You saw that the 3MML rejected the downside movement so you are interested in viewing how price reacts at 4MML
Since we are in the middle, we could enter both long or short
For this reason, you highlight the minilevel, because at the break of the high or or the low of the white box, you can take a long or a short entry
In this specific example, it seems that the 4MML rejected the up movement. At this point, supposing that your big picture agreed with a short trade, you can consider to enter short putting the stop above the upper side of the white box ( about 75 pips ). Would it be more or less your way to approach this trade?
Attached Image (click to enlarge)
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  • #1,549
  • Oct 9, 2017 6:18am Oct 9, 2017 6:18am
Hello guys, what do you think about USD/CHF? The price is going up, but there is an extreme level of the MM near... let's see how it will end. I'd like to look for a short on the 2/8 MML if a quad pattern forms; or maybe it can retrace down to the+1/8 or 8/8 orange levels and then it could form a bullish quad candle pattern and continue the trend... Maybe we ccan ride both waves. What do you think?

I'm also monitoring eur/gbp for a short and a tp on the ultimate support and then long again if a quad bullish forms.
Attached Image(s) (click to enlarge)
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  • #1,550
  • Oct 9, 2017 6:21am Oct 9, 2017 6:21am
Quoting Eldero
{quote} Let's see if I have understood something form your method GBP-USD Price is approching the 4MML ( ok, the OB-OS would be better, but also the 4MML is an interesting level and this is just an example to understand ). You saw that the 3MML rejected the downside movement so you are interested in viewing how price reacts at 4MML Since we are in the middle, we could enter both long or short For this reason, you highlight the minilevel, because at the break of the high or or the low of the white box, you can take a long or a short entry In this...
Be back to you in a little while, got a problem with my central heating that needs sorting asap
  • #1,551
  • Oct 9, 2017 6:38am Oct 9, 2017 6:38am
Quoting Joseph95
Hello guys, what do you think about USD/CHF? The price is going up, but there is an extreme level of the MM near... let's see how it will end. I'd like to look for a short on the 2/8 MML if a quad pattern forms; or maybe it can retrace down to the+1/8 or 8/8 orange levels and then it could form a bullish quad candle pattern and continue the trend... Maybe we ccan ride both waves. What do you think? I'm also monitoring eur/gbp for a short and a tp on the ultimate support and then long again if a quad bullish forms. {image} {image}
My thought about USD.CHF is that the recent up movement made a new high above 0.97700. It is a sign that the down movement started on the middle of December might be finished. Consequentially my first feeling is for a long. But, we are at over bought MML, and it would not suggest a long entry. There is also a dimanic trendline that might represent a resistance right at the middle of +1/8 and +2/8 MML
So, I would keep in mind that a new high has been made and that it could represent a beginning of a long movement. But the stop for this evaluation would be under the low signed the 8 sep ( 0.94160 ). Very far
If I should take a short trade in this pair, I would wait if the price go closer to the +1/8 and +2/8 monitoring how it also react to the trendline before entering short.
But knowing that a possible new up trend could be in act, I would consider a small stop loss and also the profit would not be not so ambitous
Attached Image (click to enlarge)
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  • #1,552
  • Oct 9, 2017 6:58am Oct 9, 2017 6:58am
Quoting Eldero
{quote} Let's see if I have understood something form your method GBP-USD Price is approching the 4MML ( ok, the OB-OS would be better, but also the 4MML is an interesting level and this is just an example to understand ). You saw that the 3MML rejected the downside movement so you are interested in viewing how price reacts at 4MML Since we are in the middle, we could enter both long or short For this reason, you highlight the minilevel, because at the break of the high or or the low of the white box, you can take a long or a short entry In this...
Yes you have the idea now, that's why some levels perhaps show a better bias than others, its a jigsaw puzzle you can see were price sits in a Daily 64 now look for a clue off a weekly or monthly 64
  • #1,553
  • Oct 9, 2017 7:09am Oct 9, 2017 7:09am
Quoting Joseph95
Hello guys, what do you think about USD/CHF? The price is going up, but there is an extreme level of the MM near... let's see how it will end. I'd like to look for a short on the 2/8 MML if a quad pattern forms; or maybe it can retrace down to the+1/8 or 8/8 orange levels and then it could form a bullish quad candle pattern and continue the trend... Maybe we ccan ride both waves. What do you think? I'm also monitoring eur/gbp for a short and a tp on the ultimate support and then long again if a quad bullish forms. {image} {image}
Regarding EUR/GBP, it did a good quad at the 0/8 MML. I was monitoring it and was waiting for that formation a bit lower at -1/8 or -2/8. Unfortunately, I missed it
In this case, I prefer to not open any trade. Now it is at 2/8MML and it is not an interesting place for me
The same thing is happening with GOLD ( where, maybe, I lost the train )
As Masterrmind teaches, patience is the key word
  • #1,554
  • Oct 9, 2017 7:21am Oct 9, 2017 7:21am
Quoting OAPDave
{quote} Yes you have the idea now, that's why some levels perhaps show a better bias than others, its a jigsaw puzzle you can see were price sits in a Daily 64 now look for a clue off a weekly or monthly 64
ok, good to be closer to your idea of trading...so returning to our example GBP-USD. In the weekly I see that price broke down the 6/8. Then retested it but the level rejected teh price. On monthly I see a rejection of teh 6/8 MML and now the price seems to go to the 5/8 MML
At this point, supposing that I read the three charts like a possible short, when do you enter?
Now, on the daily chart the price have broken down the white box. Should I enter now or should I wait the close of the daily candle and if price would still be under the box go short?
Attached Image(s) (click to enlarge)
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  • #1,555
  • Oct 9, 2017 7:33am Oct 9, 2017 7:33am
Quoting Eldero
{quote} ok, good to be closer to your idea of trading...so returning to our example GBP-USD. In the weekly I see that price broke down the 6/8. Then retested it but the level rejected teh price. On monthly I see a rejection of teh 6/8 MML and now the price seems to go to the 5/8 MML At this point, supposing that I read the three charts like a possible short, when do you enter? Now, on the daily chart the price have broken down the white box. Should I enter now or should I wait the close of the daily candle and if price would still be under the box...
Not here to be a signal service I am just not a good enough trader because we all have different risk tolerances, all I will say you have a setup that is very easy on your eyes go though some charts and draw a plan up for when trades go right and then when they go not so good, you yourself are a good trader you will be able to feel if its right by adding you own ways to make even more confluence
  • #1,556
  • Oct 9, 2017 7:41am Oct 9, 2017 7:41am
Quoting OAPDave
{quote} Not here to be a signal service I am just not a good enough trader, all I will say you have a setup that is very easy on your eyes go though some charts and draw a plan up for when trades go right and then when they go not so good, you yourself are a good trader you will be able to feel if its right by adding you own ways to make even more confluence
Yes, off course, I was not asking for your signal service
Nice to have learned your point of view, take care
  • #1,557
  • Oct 9, 2017 9:47am Oct 9, 2017 9:47am
Quoting Eldero
{quote} ok, good to be closer to your idea of trading...so returning to our example GBP-USD. In the weekly I see that price broke down the 6/8. Then retested it but the level rejected teh price. On monthly I see a rejection of teh 6/8 MML and now the price seems to go to the 5/8 MML At this point, supposing that I read the three charts like a possible short, when do you enter? Now, on the daily chart the price have broken down the white box. Should I enter now or should I wait the close of the daily candle and if price would still be under the box...
Eldero, I have just looked at my reply and it could be seen as a little rude, it was not meant to be, just under a bit of stress with my boiler and central heating breakdown no heating and no hot water now, you are one of the top guys on here and in no way would I mean to offend you, please keep your thoughts and posts coming, find them top notch, think I have just lost a little focus as not good at multi tasking
  • #1,558
  • Oct 9, 2017 10:00am Oct 9, 2017 10:00am
Quoting OAPDave
{quote} Eldero, I have just looked at my reply and it could be seen as a little rude, it was not meant to be, just under a bit of stress with my boiler and central heating breakdown no heating and no hot water now, you are one of the top guys on here and in no way would I mean to offend you, please keep your thoughts and posts coming, find them top notch, think I have just lost a little focus as not good at multi tasking
No problem, everything is ok with you...hope you solved your problem with heating
  • #1,559
  • Oct 9, 2017 3:11pm Oct 9, 2017 3:11pm
Quoting Eldero
{quote} No problem, everything is ok with you...hope you solved your problem with heating
Phew thank heavens that there as been no misunderstanding, Staying on the Gbp/Usd as per your posts, we have looked at the M W D to get a big picture to see if we can get into a trending move worth a few pips, so lets drop down to say a 60min with the standard Murrey 64, now do you think that to convince you to Buy we would have to see a chart shift up, hence blow through the 8/8ths +1/8th and +2/8ths ? or if we think the Sell is on what would be the size of risk we would need to take to be proved right or wrong ? We have Octave level prices off a Daily that we can check were they line up on a 60min ? If you have screen time you could even drop down to a 15 min, how would you trade that ? and with what bias ?
Attached Image(s) (click to enlarge)
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  • #1,560
  • Oct 9, 2017 8:00pm Oct 9, 2017 8:00pm
Great to see the participation starting to improve.

Keep it going.

There is much to learn.

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