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  • #81
  • Jan 24, 2018 2:34am Jan 24, 2018 2:34am
Also how is this any different then engulfing? hmm. I did some backtests thought results seem good. but idk. ANyone take any trades? NU seems to be working out well
  • #82
  • Jan 24, 2018 2:39am Jan 24, 2018 2:39am
For those who don't understand the patterns. I think this will be helpful.
Attached Image (click to enlarge)
Click to Enlarge Name: Buy.png Size: 26 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Sell.png Size: 30 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Pattern 2 Buy.png Size: 23 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Pattern 2 Sell.png Size: 33 KB
  • #83
  • Jan 24, 2018 3:23am Jan 24, 2018 3:23am
Would be nice if someone can set up a trade explorer and forward test this. Maybe Joseph or someone
  • #84
  • Edited 3:55am Jan 24, 2018 3:27am | Edited 3:55am
Quoting yonnie
{quote} I don't see that the SL is tighter than the TP: you enter when price breaks the high of the signal candle, your TP is the size of the signal candle and the SL is below the signal candle. So wouldn`t r:r be 1:1 - SL = TP?
Attention, i said the potential tp.You’re right about the fact that 1:1 isn’t good, that’s why I said to split the size and set one trade with the target and another without. You can see you can catch very big movements and this will be the trades that will pay for our all eventually losses with interest
  • #85
  • Edited 4:28am Jan 24, 2018 3:34am | Edited 4:28am
I mean that on every signal you could split your size. Let's assume you trade 0.02 lot. With 0.01 you'll set your TP as the size of candle, other 0.01 without tp. So, like that, we have 3 scenarios:

- Both positions will hit your SL (that is tight compared to the POTENTIAL/infinite TP)
-1 will hit tp, 1 SL= 0 loss and 0 gain
-One will hit tp and one will run= Thousands of pips who will recover all your losses with interest. This is why i think in the long term with a very good MM, it works

Attached Image (click to enlarge)
Click to Enlarge Name: Pattern 2 Sell.png Size: 27 KB
  • #86
  • Edited 5:40am Jan 24, 2018 3:52am | Edited 5:40am
Quoting Jeg
So, NZDUSD would be a possible candidate... buy stop placed above 2nd candle from the right... {image}

And now i invite ALL to read this post that i quoted, then go on NZD/USD Daily. RIGHT NOW!
  • #87
  • Jan 24, 2018 4:25am Jan 24, 2018 4:25am
Quoting samuel2133
Worked. {image}
I see on your shart 1h not daily. Wtf wrong with you guys...
  • #88
  • Edited 2:55pm Jan 24, 2018 5:29am | Edited 2:55pm
AUD/JPY right now, with other examples and some observations

Edit: I mean double top. I get confused with english, sorry
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY daily.PNG Size: 37 KB
  • #89
  • Jan 24, 2018 6:22am Jan 24, 2018 6:22am
Quoting laksior
For those who don't understand the patterns. I think this will be helpful. {image} {image} {image} {image}
Thanks for your effort to explain the pattern.

However I still would like to be sure if I understood this correct.

There are always 1 bull a bear candle to make a pattern.
You enter Pending Buy Order at the high of Bull 2nd candle after it closes.
You enter Pending Sell Order at the low of Bear 2nd candle after it closes.
Does the 2nd candle need to be certain size as compared to 1st candle? Does their wick need to be certain size?

Note: I use the term 1st candle and 2nd candle. I refer to them as the 1st candle of the pattern and 2nd candle of the pattern(newer)
  • #90
  • Jan 24, 2018 6:24am Jan 24, 2018 6:24am
Quoting Joseph95
AUD/JPY right now, with other examples and some observations {image}
Thanks for sharing your idea here but this is really confusing.
Does the pattern involve 2 candles? 3 candles? or it depends?
  • #91
  • Jan 24, 2018 6:25am Jan 24, 2018 6:25am
Quoting yalgaar
{quote} Thanks for your effort to explain the pattern. However I still would like to be sure if I understood this correct. There are always 1 bull a bear candle to make a pattern. You enter Pending Buy Order at the high of Bull 2nd candle after it closes. You enter Pending Sell Order at the low of Bear 2nd candle after it closes. Does the 2nd candle need to be certain size as compared to 1st candle? Does their wick need to be certain size? Note: I use the term 1st candle and 2nd candle. I refer to them as the 1st candle...

Don't know yet. This is all to study and verify. For now just take all setups as "tradables"
  • #92
  • Jan 24, 2018 6:27am Jan 24, 2018 6:27am
Quoting yalgaar
{quote} Thanks for sharing your idea here but this is really confusing. Does the pattern involve 2 candles? 3 candles? or it depends?

You have all what you need for understand the concept in first two pages. You'll find mine explanations, i know my english is not good, but i don't think it's impossible to understand and anyone who has spent at least 200 hours on charts can understand easily what i want to communicate. I have posted also a lot of examples and other traders has explained it again and again.

I reccomend to all if you are a newbie or if you don't have experience in trading to just study first the basics of the forex and market in general and leave this thread or the final result will be that you are only confused.
  • #93
  • Jan 24, 2018 6:48am Jan 24, 2018 6:48am
Quoting sharingan9
Would be nice if someone can set up a trade explorer and forward test this. Maybe Joseph or someone

Sorry for the late reply. I never used a trade explorer and i don't know how to set up it
  • #94
  • Edited 2:54pm Jan 24, 2018 7:06am | Edited 2:54pm
I noticed that this pattern often appear in a lot of price action dynamics. I hope you understand my intention it's not to blindly trade 2 candles but to make a valid and proved entry signal (anyway if you'll enter without analysis you'll gain)

Edit: In second screenshot i mean double top. I get confused with english sorry
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURNZD WEEKLY.PNG Size: 55 KB
Click to Enlarge Name: EURNZD.PNG Size: 43 KB
  • #95
  • Jan 24, 2018 10:44am Jan 24, 2018 10:44am
Quoting Joseph95
I noticed that this pattern often appear in a lot of price action dynamics. I hope you understand my intention it's not to blindly trade 2 candles but to make a valid and proved entry signal (anyway if you'll enter without analysis you'll gain) {image} {image}
Where is the double bottom on the second picture? do you mean double top? Double bottom is a long signal and i think you are going short on second example. Using the wrong terms in screenshots will confuse people. Just a small tip

Also what do you mean you closed the trade after marobozu green candle? you are short on this trade so why would that marobozu green candle matter?
  • #96
  • Jan 24, 2018 10:57am Jan 24, 2018 10:57am
Quoting Joseph95
{quote} Don't know yet. This is all to study and verify. For now just take all setups as "tradables"
Thanks for confirming.
  • #97
  • Jan 24, 2018 11:24am Jan 24, 2018 11:24am
Attached Image (click to enlarge)
Click to Enlarge Name: test.PNG Size: 110 KB


Waiting for Sell stop to get triggered on AJ.

The NU trade did amazing hit TP no problem.

I like the promise of this system because if it proves profitable then it is very easy to trade with not very much analysis
  • #98
  • Jan 24, 2018 12:23pm Jan 24, 2018 12:23pm
Joseph thanks allot for sharing this with pictures.
Its refreshing to see this on forexfactory )
The truth is hidden from you
  • #99
  • Jan 24, 2018 2:09pm Jan 24, 2018 2:09pm
Quoting sharingan9
{quote} Where is the double bottom on the second picture? do you mean double top? Double bottom is a long signal and i think you are going short on second example. Using the wrong terms in screenshots will confuse people. Just a small tip Also what do you mean you closed the trade after marobozu green candle? you are short on this trade so why would that marobozu green candle matter?
Yes, double top sorry.

I was in the trade through the weekly pattern and then I closed on daily after the Marubozu because of fear, lack of discipline and patience
  • #100
  • Jan 24, 2018 2:42pm Jan 24, 2018 2:42pm
Quoting Jeg
So, NZDUSD would be a possible candidate... buy stop placed above 2nd candle from the right... {image}
Guys, tomorrow we'll go eat pizza together. Kindly offered by Jeg
Attached Image
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