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  • #41
  • Jan 23, 2018 3:10am Jan 23, 2018 3:10am
Quoting hibra68
{quote} I can only guess at it but I think he meant rejection to the downside not fakebreakout. But its just a guess.
You’re right
  • #42
  • Jan 23, 2018 3:21am Jan 23, 2018 3:21am
I dont want to derail the thread. But this seems similar.
I guess you could do that if you find patterns on D1, but trade from h4/h1
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The truth is hidden from you
  • #43
  • Jan 23, 2018 3:28am Jan 23, 2018 3:28am
Quoting COGSx86
So can we first get a indicator developed to identify this pattern/formation, cuz as of right now all I see is a rejection on some MA (not sure what period) and the pattern hasnt really been described. Or am I missing something?
Hello, i don’t think you need a indicator. Actually it takes to me just 5 min for search on all 28 pairs. It’s a pattern very easy to spot
  • #44
  • Jan 23, 2018 3:36am Jan 23, 2018 3:36am
Quoting hibra68
{quote} I can only guess at it but I think he meant rejection to the downside not fakebreakout. But its just a guess.
The point is that the rejection/shadow must be LONGER than the previous one day
  • #45
  • Jan 23, 2018 3:36am Jan 23, 2018 3:36am
By the way, notice how a consolidation formed between the HIGHs of the two candles. Might be an opportunity on a lower tf.
I wonder how often this occurs.
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The truth is hidden from you
  • #46
  • Jan 23, 2018 3:39am Jan 23, 2018 3:39am
Joseph, what are the dates on chart om post 21? Is it NY close?
  • #47
  • Jan 23, 2018 3:55am Jan 23, 2018 3:55am
Quoting plind
Joseph, what are the dates on chart om post 21? Is it NY close?

Plind i don't remember the dates. I start my analysis on daily chart at 23:00 (italy) when NY close. Now i'll post other examples on eur/usd
  • #48
  • Jan 23, 2018 3:58am Jan 23, 2018 3:58am
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  • #49
  • Jan 23, 2018 4:20am Jan 23, 2018 4:20am
Quoting Joseph95
{image}
I think there is a lot more setups.
If i'm wrong please correct me...

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  • #50
  • Edited 4:44am Jan 23, 2018 4:34am | Edited 4:44am
Quoting laksior
{quote} I think there is a lot more setups. If i'm wrong please correct me... {image}
Yes you Are right. I’d not consider the candles with a very very long shadow and very small candles. But it’s all to verify and study! Thank you

anyway we would taken only the one with the red arrow, then we would moved the stop at least at BE. Because I think it s not a good idea add positions.

The ideal (and basic) setups for me are the screenshots number 2,3,4,5 in post 1
  • #51
  • Jan 23, 2018 4:49am Jan 23, 2018 4:49am
We can use an oscillator to exit our positions. For example if we take take a long we will exit when the price is overbought (70 line or whatever). The opposite for short positions. Obviously, this kind of exit works better if we take a position that agrees with the overall trend.
Look at the pictures. The rectangle is the pattern, the white horizontal line the point of entry and the vertical red line the point when the price reaches the overbought zone.
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Give me a lever long enough and a place to stand, and I will move the Earth
  • #52
  • Jan 23, 2018 5:00am Jan 23, 2018 5:00am
Quoting artestine
We can use an oscillator to exit our positions. For example if we take take a long we will exit when the price is overbought (70 line or whatever). The opposite for short positions. Obviously, this kind of exit works better if we take a position that agrees with the overall trend. Look at the pictures. The rectangle is the pattern, the white horizontal line the point of entry and the vertical red line the point when the price reaches the overbought zone. {image} {image}
The problem is that some kind of oscillators when they are in overbought The pair is just trending and it could remain in overbought for 2 months. Elder say that there are two types of indicators, one is good for spot highs and lows, one for trends... we must choice the good one for this
  • #53
  • Jan 23, 2018 5:14am Jan 23, 2018 5:14am
I invite all to partecipate, camon guys

“If you have an apple, and I have an apple, and we exchange it, then you and I always have an apple for one. But if you have an idea, and I have an idea, and we exchange it, then we both have two ideas”
  • #54
  • Jan 23, 2018 5:37am Jan 23, 2018 5:37am
Nice system, what makes this pattern important is that its a wick pattern + CS pattern, (wick)short/long + (CS)Bull/Bear means sell, (wick)short/long + (CS)bear/bull means buy
Grind until you no longer have to introduce yourself. 4:30am club
  • #55
  • Edited 6:04am Jan 23, 2018 5:44am | Edited 6:04am
Quoting Fxmd
Nice system, what makes this pattern important is that its a wick pattern + CS pattern, (wick)short/long + (CS)Bull/Bear means sell, (wick)short/long + (CS)bear/bull means buy

And i think also that the point of strength of this "entry method" is that the SL is tight compared to the potential TP: If you lose one, you'll recover with interest in the next trade
  • #56
  • Jan 23, 2018 5:45am Jan 23, 2018 5:45am
Quoting Jeg
So, NZDUSD would be a possible candidate... buy stop placed above 2nd candle from the right... {image}

NZD/USD last three months
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  • #57
  • Jan 23, 2018 6:14am Jan 23, 2018 6:14am
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  • #58
  • Jan 23, 2018 6:31am Jan 23, 2018 6:31am
Quoting Joseph95
{image} {image} {image}
There you go, last piece in the puzzle hahaha, nice findings, you are on the right track, thanks for sharing.
Grind until you no longer have to introduce yourself. 4:30am club
  • #59
  • Jan 23, 2018 6:33am Jan 23, 2018 6:33am
Quoting Joseph95
{quote} And i think also that the point of strength of this "entry method" is that the SL is tight compared to the potential TP: If you lose one, you'll recover with interest in the next trade
Yes, I go for at least 1:3 using a system with the same signal for entry and multi time frame.
Grind until you no longer have to introduce yourself. 4:30am club
  • #60
  • Jan 23, 2018 6:37am Jan 23, 2018 6:37am
We' ve lost this
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