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  • #2,081
  • Dec 25, 2017 12:25am Dec 25, 2017 12:25am
The one thing I can't figure out is that by the time the weekly candle closes, you already have 5 daily candles that have closed, some of which could have closed above the upper band....the same with the relationship between daily/4H. How do you resolve that so you don't miss the move or get a bigger chunk of it? If at any point of the higher TF you choose it "penetrates" the middle band are we OK to look at and try to qualify the lower TF candle in order to take a trade?
  • #2,082
  • Dec 25, 2017 5:55am Dec 25, 2017 5:55am
Quoting lctrader11
The one thing I can't figure out is that by the time the weekly candle closes, you already have 5 daily candles that have closed, some of which could have closed above the upper band....the same with the relationship between daily/4H. How do you resolve that so you don't miss the move or get a bigger chunk of it? If at any point of the higher TF you choose it "penetrates" the middle band are we OK to look at and try to qualify the lower TF candle in order to take a trade?
Here is one of the latest, AUDUSD long. The 13th December was moving above the daily middle band and 4hr closed above the upper band. I was late with two candles below because I did not open platform on time. This is because I have not much time for trading 4hr. I have said it in the past.
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Make all mistakes in demo and rain in pips in live account
  • #2,083
  • Dec 25, 2017 6:03am Dec 25, 2017 6:03am
Hi ICtrader
I fully understand your concern/question. Sometimes before candles closes above the weekly some have already been moving along the upper band daily. I have seen such setup and so scared sometimes about the move. The ones that gives me better signal is the ones that when the weekly is moving above the middle the first one closes above the upper band daily. Same applies with daily middle band and 4hr upper band for long positions. Even if I take such setup I always use the longer time frame sl. That's the reason using the longer tf candle for sl is always advised. Where the sl is too wide and we know we got in when candles were already above the upper band we lower the risk by taking small lot size
Make all mistakes in demo and rain in pips in live account
  • #2,084
  • Dec 25, 2017 6:19am Dec 25, 2017 6:19am
Such case is seen now on AUDJPY long. Six bullish candles already closed above the daily and the weekly strongly closed above the middle band. I have been in using daily middle band and 4hr upper band on 11th December- about 200 pips now, already ahead of the daily and weekly. If we have to join now the weekly bullish candle should be used for sl- below the low price because of strong possibility of retracement
Make all mistakes in demo and rain in pips in live account
  • #2,085
  • Dec 25, 2017 7:39am Dec 25, 2017 7:39am
While you backtest this strategy, it's also wise to check other setup/candlestick patterns I have shared, specially strong Shooting Star right below strong resistance - for short position; Hammer with lower band breakout, specially with bullish body- for long position
Make all mistakes in demo and rain in pips in live account
  • #2,086
  • Dec 25, 2017 7:41am Dec 25, 2017 7:41am
Sometimes we miss the move at the beginning with one strategy; then we can get in with another strategy
Make all mistakes in demo and rain in pips in live account
  • #2,087
  • Edited 10:40am Dec 25, 2017 8:22am | Edited 10:40am
The ones that gives me better signal is the ones that when the weekly is moving above the middle the first one closes above the upper band daily. Same applies with daily middle band and 4hr upper band for long positions

note; when the weekly is moving above the middle, the first one closes above the upper band daily. that means the 5 candles that makes up weekly has not yet formed and the first candle of the 5 candles had already closed above upper band daily what happen next if the rest 4 candles failed to close above upper band and weekly later refuse to close above middle band. is that a better signal?
  • #2,088
  • Dec 25, 2017 9:01am Dec 25, 2017 9:01am
what happen next ? if the rest 4 candles failed to close above upper band and weekly later refuse to close above middle band.is that a better signal?
  • #2,089
  • Dec 25, 2017 11:47am Dec 25, 2017 11:47am
Quoting joycometh
The ones that gives me better signal is the ones that when the weekly is moving above the middle the first one closes above the upper band daily. Same applies with daily middle band and 4hr upper band for long positions note; when the weekly is moving above the middle, the first one closes above the upper band daily. that means the 5 candles that makes up weekly has not yet formed and the first candle of the 5 candles had already closed above upper band daily what happen next if the rest 4 candles failed to close above upper band and weekly later...
When we enter market we wouldn't know the final outcome of the movement. We need to enter at the right time and what would happen later only market knows. I got what you mean. Sometimes the following candles refuse to close above the upper band and retrace back. I have said that some of the positions have retraced and even triggered my SL. At the beginning of the thread I shared some of the JPY pairs that moved straight without retracing, whereas NZDJPY triggered my SL and then I got in again before the US Presidential election. Check the earlier posts of the thread
Make all mistakes in demo and rain in pips in live account
  • #2,090
  • Dec 25, 2017 11:57am Dec 25, 2017 11:57am
Quoting joycometh
what happen next ? if the rest 4 candles failed to close above upper band and weekly later refuse to close above middle band.is that a better signal?
Please note that it's not always the first daily candle of the week that makes the signal. It could be the last candle of the week, second or third. For the last candle of the week it means the signal is made sometimes on Friday. In that case I get in before market closes on Friday. Like in mathematics 5+5 is not always 10

I have the current AUDCAD that was formed on Wednesday 13th December
Make all mistakes in demo and rain in pips in live account
  • #2,091
  • Dec 25, 2017 2:45pm Dec 25, 2017 2:45pm
Just checking charts- interesting to see what EURCAD is doing both on the weekly and monthly
Make all mistakes in demo and rain in pips in live account
  • #2,092
  • Dec 25, 2017 2:51pm Dec 25, 2017 2:51pm
There had been shooting star below resistance level, 1.52414 on the weekly. Also on the monthly the zone had failed to be broken since 2009. Looking for the weekly and daily entry point is now my focus
Make all mistakes in demo and rain in pips in live account
  • #2,093
  • Dec 25, 2017 2:57pm Dec 25, 2017 2:57pm
What would then happen to its correlated pair CADCHF short that had refused to crash. Exiting it?? Quagmire for me now
Make all mistakes in demo and rain in pips in live account
  • #2,094
  • Dec 25, 2017 3:11pm Dec 25, 2017 3:11pm
Quoting 9jatrader
What would then happen to its correlated pair CADCHF short that had refused to crash. Exiting it?? Quagmire for me now
Hope to join the bulls with weekly middle band and daily upper band, to scalp few pips of about 170 pips
to close below/around resistance level, 0.79544 weekly high
Make all mistakes in demo and rain in pips in live account
  • #2,095
  • Dec 25, 2017 3:13pm Dec 25, 2017 3:13pm
It's not possible that both CADCHF and EURCAD move in the same direction
Make all mistakes in demo and rain in pips in live account
  • #2,096
  • Edited 12:28am Dec 26, 2017 12:18am | Edited 12:28am
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correct me if am wrong
  • #2,097
  • Dec 26, 2017 1:52am Dec 26, 2017 1:52am
Quoting joycometh
{file}{file}{file} correct me if am wrong
I don't do all these downloads here and there. I just install from MT4 and start using.

Simplicity is the game
Make all mistakes in demo and rain in pips in live account
  • #2,098
  • Dec 26, 2017 3:44am Dec 26, 2017 3:44am
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  • #2,099
  • Dec 26, 2017 3:49am Dec 26, 2017 3:49am
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  • #2,100
  • Dec 26, 2017 3:56am Dec 26, 2017 3:56am
I was late with two candles below because I did not open platform on time. This is because I have not much time for trading 4hr

why did you say you are late with two candles below if the above chart is correct. pls correct me if am wrong i want to be sure of the entry candle
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