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Daily Chart 3-Candle

  • #181
  • May 8, 2018 8:00am May 8, 2018 8:00am
Quoting simoneg
So this is what I'm watching on the USDCAD. On the daily, price is at a strong BUYING REJECTION ZONE, this is the highest bullish close price on the March 11th Swing low, highlighted on the left of the chart. {image} Also the H1 is rejecting buying in the same area, with the same type of a setup. {image} Let's see how h4/h1 closes.
interesting what you are looking for.
with EJ daily i was looking for this zone (open and low of lowest bar from last swing, daily):
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYDaily.png Size: 57 KB
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  • #182
  • May 8, 2018 8:03am May 8, 2018 8:03am
Quoting birdland
{quote} interesting what you are looking for. with EJ daily i was looking for this zone (open and low of lowest bar from last swing, daily): {image}
Yes birdland, the lowest bearish close price of the swing high, is very important to watch and vice versa for Swing lows.
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  • #183
  • May 8, 2018 8:16am May 8, 2018 8:16am
Quoting simoneg
USDJPY is already Daily bearish 123 sell price at 109.32. Now we have a H4 123 and Buying Rejection being attempted on the last H4 Swing Low. Let's wait. {image}
No confirmation here. Swing low has a higher bullish close.
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  • #184
  • May 8, 2018 8:31am May 8, 2018 8:31am
Planning a short on USDHPY here.
Attached Image (click to enlarge)
Click to Enlarge Name: UJH4.png Size: 95 KB
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  • #185
  • May 8, 2018 8:32am May 8, 2018 8:32am
GJ H1
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Click to Enlarge Name: 40167418940_0aac2b6bc7_h.jpg Size: 295 KB
  • #186
  • May 8, 2018 9:59am May 8, 2018 9:59am
GU H1 looks double promising for buy:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 63 KB
trading is like dancing, don't think and just listen to the music!
  • #187
  • May 8, 2018 10:50am May 8, 2018 10:50am
Sorry I tuned out for a bit. Looks good birdland & 6677028. Nice when the setups agree with what other pairs are saying.
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  • #188
  • May 8, 2018 10:59am May 8, 2018 10:59am
Quoting simoneg
Sorry I tuned out for a bit. Looks good birdland & 6677028. Nice when the setups agree with what other pairs are saying.
you dont need to say sorry

like you said, also UJ H1 is turning short for a good signal, right on the daily trigger line.
trading is like dancing, don't think and just listen to the music!
  • #189
  • May 8, 2018 11:02am May 8, 2018 11:02am
Quoting birdland
{quote} you dont need to say sorry like you said, also UJ H1 is turning short for a good signal, right on the daily trigger line.
Yes birdland, I'm already in based on my previous charts. Also USDCAD still rejecting buying at BUYING REJECTION LEVELS. Last H1 close looking very good too
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  • #190
  • May 8, 2018 11:22am May 8, 2018 11:22am
Quoting simoneg
... Nice when the setups agree with what other pairs are saying.
GU, NU, AU, UJ and UC in line!
trading is like dancing, don't think and just listen to the music!
  • #191
  • May 8, 2018 11:26am May 8, 2018 11:26am
Indeed birdland.

USDCAD now prepping H4 123, as well. Already in from previous charts. Will only seek to add to positions from here on.
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  • #192
  • May 8, 2018 11:34am May 8, 2018 11:34am
out with the first (GU) at "trading the buff"- resistance for +60 pips
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 66 KB
trading is like dancing, don't think and just listen to the music!
  • #193
  • May 8, 2018 11:58am May 8, 2018 11:58am
Quoting birdland
out with the first (GU) at "trading the buff"- resistance for +60 pips {image}
Nice birdland...own it and make it happen.
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  • #194
  • May 8, 2018 12:06pm May 8, 2018 12:06pm
Quoting simoneg
{quote} Nice birdland...own it and make it happen.
thx, its real fun and i like it!

closed both (UJ short and EJ long) with nice profits, because i want peace with my family;-)

read you tomorrow!
trading is like dancing, don't think and just listen to the music!
  • #195
  • May 8, 2018 12:08pm May 8, 2018 12:08pm
Quoting birdland
{quote} thx, its real fun and i like it! closed both (UJ short and EJ long) with nice profits, because i want peace with my family;-) read you tomorrow!
Hahaha...most important. Awesome. Have a great one birdland!
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  • #196
  • May 8, 2018 12:10pm May 8, 2018 12:10pm
Gold now has a bullish 123 on the H4. Adding to my longs here.
Attached Image (click to enlarge)
Click to Enlarge Name: xauh4.png Size: 92 KB
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  • #197
  • May 8, 2018 12:19pm May 8, 2018 12:19pm
USDCAD now has a bearish 123 on the H4 right at the Daily and H1 BUYING REJECTION LEVELS.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADSWING.png Size: 96 KB
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  • #198
  • May 8, 2018 2:01pm May 8, 2018 2:01pm
Quoting simoneg
USDCAD now has a bearish 123 on the H4 right at the Daily and H1 BUYING REJECTION LEVELS. {image}
Hello boss,

Sorry to look retarded, but not quite sure that I fully understood the rules of the system... for example this trade, I clearly can see some sort of rejection by just looking at the wicks + Resistance level on higher TF, but applying the rules:

- Market is tending upwards (at least for 3 days).Uptrend - Creating Higher highs and higher lows.

USDCAD was ranging on H4 for the last days, I assume here you talk about Daily?

- The LAST BAR (BAR#3) closes with two bars having lower high on its LEFT
Bar 3 here is closing having a bar that made a higher high (did a breakout of the channel) and a small bearish one

BAR#3 closes below the CLOSE PRICE OF BAR#1 (if BAR#1 has a BULLISH BODY) OR below the OPEN PRICE OF BAR#1 (if BAR#1 has a BEARISH BODY).
This, yes

Also I have a couple of questions

You use this system for reversals or also for trend continuation?
You enter before candle close?
How do you filter "bad setups"?

Is this setup right for example? When would you enter?
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  • #199
  • May 8, 2018 3:56pm May 8, 2018 3:56pm
Took profits on all trades.
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  • #200
  • May 8, 2018 4:05pm May 8, 2018 4:05pm
Quoting J1mm
{quote} Hello boss, Sorry to look retarded, but not quite sure that I fully understood the rules of the system... for example this trade, I clearly can see some sort of rejection by just looking at the wicks + Resistance level on higher TF, but applying the rules: - Market is tending upwards (at least for 3 days).Uptrend - Creating Higher highs and higher lows. USDCAD was ranging on H4 for the last days, I assume here you talk about Daily? - The LAST BAR (BAR#3) closes with two bars having lower high on its LEFT Bar 3 here is closing having a bar...
No bosses around here, everyone trading and sharing.

1st Question - yes was referring the daily chart.
Not understanding what you are asking in your second point/question
3rd Question - Yes the system is used for both reversal and continuation
4th Question - No I never enter before the candle close. I will get confirmation on other timeframes and keep taking trades in the direction on h4, h12, daily and so on
5th Question - I filter by looking at what the other pairs are doing. What the market sentiment is across Gold, USDX and US30. Looking at Higher timeframes
6th Question - The setup in your chart seems Ok. I cannot tell if I would enter as I would have needed the opportunity to do my checks as stated in my response to Question 5.
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