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Delta rejection

  • #1
  • First Post: Edited Jun 19, 2018 2:45am Jan 23, 2018 2:30am | Edited Jun 19, 2018 2:45am
Attached Image (click to enlarge)
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so here is a pattern that i discovered. i don't think that you will find it anywhere else hence the name. this pattern is about the rejection candles of levels (supp resistance lines).

I call it delta rejection pattern.


Tool I use for backtesting, better than forextester : Visual Backtest https://www.forexfactory.com/showthread.php?t=779303
  • #2
  • Edited 3:04am Jan 23, 2018 2:37am | Edited 3:04am
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here is another example. if you find something similar please let me know. but it has to be the same pattern. in trading even 1% difference can make 100000% in returns. i let you backtest and simulate the idea in order to find suitable exits. trading is the best job on the planet in my opinion and i always liked the trading systems forum. it is filled with dreamers and hard workers.
  • #3
  • Jan 23, 2018 3:35am Jan 23, 2018 3:35am
Quoting deltatrade
{image}here is another example. if you find something similar please let me know. but it has to be the same pattern. in trading even 1% difference can make 100000% in returns. i let you backtest and simulate the idea in order to find suitable exits. trading is the best job on the planet in my opinion and i always liked the trading systems forum. it is filled with dreamers and hard workers.
Hi..
what is the condition for drawing your levels?

With a first view it looks like you mark them sometimes included wicks, sometimes only candle body..
-- 168413 for example.
Risiko birgt immer auch die Chance.
  • #4
  • Jan 23, 2018 3:41am Jan 23, 2018 3:41am
if you have a high or a low , just 1; the level becomes the high or the low. after that you are looking for the second touch of that high and low and for the rejection candle. so at the second touch of that high or low you are looking for the rejection. and they can be several.
  • #5
  • Jan 23, 2018 3:53am Jan 23, 2018 3:53am
Quoting deltatrade
if you have a high or a low , just 1; the level becomes the high or the low. after that you are looking for the second touch of that high and low and for the rejection candle. so at the second touch of that high or low you are looking for the rejection. and they can be several.

drawn not clean and clear .. good luck.. I´m out.
Risiko birgt immer auch die Chance.
  • #6
  • Jan 23, 2018 4:13am Jan 23, 2018 4:13am
Maybe we could let deltatrade explain a little further before activating the nuclear option ;-)
  • #7
  • Jan 23, 2018 6:33am Jan 23, 2018 6:33am
you may ask more questions if you wish about the pattern.
  • #8
  • Jan 24, 2018 2:41am Jan 24, 2018 2:41am
Quoting deltatrade
you may ask more questions if you wish about the pattern.
Please show only one pattern on one picture and explain. Thanks
  • #9
  • Jan 24, 2018 4:56am Jan 24, 2018 4:56am
Attached Image (click to enlarge)
Click to Enlarge Name: delta rejection 3.png Size: 30 KB
Attached Image (click to enlarge)
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  • #10
  • Jan 24, 2018 6:12am Jan 24, 2018 6:12am
Quoting deltatrade
{image}{image}
Attached Image (click to enlarge)
Click to Enlarge Name: delta rejection 3.png Size: 53 KB
  • #11
  • Jan 24, 2018 6:32am Jan 24, 2018 6:32am
it's a rejection from the level that was breached. from the uptrend. in that case worked as a rejection from heaven. so you take a high or a low , expect the rejection candle at or above the level . backtest this and see if works or not. please put out a chart that you like, zoom out a little and post it here. chose one randomly from what you have available. i could say take the first reversal candle in a trend but it's not very accurate. the level is there to identify if we have a trade or not. i admit that it does not appear as a rejection of the level. but it's a rejection towards the trend that breached the level. and a continuation it is not. it's a reversal situation .
  • #12
  • Jan 24, 2018 6:47am Jan 24, 2018 6:47am
so when i'm dealing with entries i go backtest and first i see if this has potential or not. there are hundreds of available trading ideas. in my experience none of them work as is. you have to improve. very few work as is. in the case of this
pattern i placed a chart with possible trades . x is for negative outcome, v for a positive outcome. depending on the sl and tp the pattern can change dramatically but i'm showing that it has potential. you can even train your instincts on the simulator for this pattern. to get a feel for them and improve the winrate.
Attached Image (click to enlarge)
Click to Enlarge Name: delta rejection 5.png Size: 44 KB
  • #13
  • Edited 7:00am Jan 24, 2018 6:49am | Edited 7:00am
it's impossible not to get the pattern. the first countertrend bar in a trend that breached or reached a level that's the signal.but we need the first breach or the first touch of the new high or low. not the second.
  • #14
  • Jan 24, 2018 7:52am Jan 24, 2018 7:52am
I'm still confused about Your setup and exact entry. If You could mark on this pic below, where is first rejection candle and where is possible SL and TP.

Attached Image (click to enlarge)
Click to Enlarge Name: Level.png Size: 37 KB
  • #15
  • Jan 24, 2018 8:11am Jan 24, 2018 8:11am
Attached Image (click to enlarge)
Click to Enlarge Name: Level.png Size: 39 KB
  • #16
  • Jan 24, 2018 8:16am Jan 24, 2018 8:16am
Ok, i'm out. You are selling just above the support, i don't see any logic.
Wish You all the best.
  • #17
  • Edited 8:56am Jan 24, 2018 8:26am | Edited 8:56am
Quoting laksior
Ok, i'm out. You are selling just above the support, i don't see any logic. Wish You all the best.
well it's countertrend. it's a rejection. good luck taking the first support that comes your way.
  • #18
  • Jan 24, 2018 9:21am Jan 24, 2018 9:21am
Hi Delta. I think you're onto something. What that is, does not seem clear to me.
1. Your charts are quite dark and hard to read. Chart with X's & V's is not clear.
2. Perhaps if you spoke a bit more about the candles that you see as having potential for reversal, it would help.

Thanks,
Darryl
  • #19
  • Jan 24, 2018 9:28am Jan 24, 2018 9:28am
Quoting diamonddbw
Hi Delta. I think you're onto something. What that is, does not seem clear to me. 1. Your charts are quite dark and hard to read. Chart with X's & V's is not clear. 2. Perhaps if you spoke a bit more about the candles that you see as having potential for reversal, it would help. Thanks, Darryl
there is a contrast and after a bullish comes a bearish candle. the pattern says that there is potential in taking the bearish candle after the contrast. so you have to have the contrast and the break of the level.it can be any type of bearish candle if it has the right color. doji's i'm not so convinced. in terms of tp the pattern how i see it has little targets and also little sl for a high winrate. but it produces a lot of trades.
  • #20
  • Jan 24, 2018 9:41am Jan 24, 2018 9:41am
Quoting deltatrade
{quote} there is a contrast and after a bullish comes a bearish candle. the pattern says that there is potential in taking the bearish candle after the contrast. so you have to have the contrast and the break of the level.it can be any type of bearish candle if it has the right color. doji's i'm not so convinced. in terms of tp the pattern how i see it has little targets and also little sl for a high winrate. but it produces a lot of trades.
+++++++++++++++++++++++++++

Thanks. That helps.
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