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The Mangú

  • #1
  • First Post: Edited Jun 25, 2018 10:25am Jun 18, 2018 6:36am | Edited Jun 25, 2018 10:25am
To trade the idea you will need to draw a line at the weekly open line and mark the high and low of the insidebars.

This system i named the Mangú
A Mangú is any candlestick which:
Has a low above the the weekly open line for buy signal.
Or Has a high below the weekly open line for sell signal.

sell short below the low of the first 1 hour Mangu bar .Stoploss 8 pips above the weekly open line Or exit if price hit the high of the any insidebar.
What are Your ideas to enter ,exit stoploss and take profits?
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  • #2
  • Jun 20, 2018 1:45am Jun 20, 2018 1:45am
From sunday weekly open
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  • #3
  • Jun 20, 2018 8:28am Jun 20, 2018 8:28am
Quoting Pedroall
This system i named the Mangú A Mangú is any candlestick which: Has a low above the the weekly open or Has a high below the weekly open. sell short below the low of the first 1 hour Mangu bar .Stoploss 8 pips above the weekly open line. {image} {image}
Hi Pedroall,

Nice one ... but I don't understand what you mean by this :

A Mangú is any candlestick which: Has a low above the the weekly open and Has a high below the weekly open

How did u select the X candle ...

Thanks
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #4
  • Jun 21, 2018 2:32am Jun 21, 2018 2:32am
Quoting Pedroall
{quote} OR has a high below the open. that mean that the high is not touching the weekly open line {image}
Thanks ...

Can you give some more examples ... sorry for the trouble ..

I m still not getting it .. maybe a couple of examples of other pairs will help me ..

Thanks
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #5
  • Jun 21, 2018 2:43am Jun 21, 2018 2:43am
Quoting rpasupathy
{quote} Thanks ... Can you give some more examples ... sorry for the trouble .. I m still not getting it .. maybe a couple of examples of other pairs will help me .. Thanks
do you know how to read a bar,where is the open and the low for that bar period?
do you know where is the weekly OPEN line?
  • #6
  • Jun 21, 2018 3:42am Jun 21, 2018 3:42am
Quoting Pedroall
{quote} do you know how to read a bar,where is the open and the low for that bar period? do you know where is the weekly OPEN line?
weekly open line for EURJPY @ 128.246

So now we need to see which Bar breaks new high or low without touching the open line ?
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The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #7
  • Jun 21, 2018 1:04pm Jun 21, 2018 1:04pm
Sell signal triggered
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  • #8
  • Last Post: Jun 22, 2018 1:22am Jun 22, 2018 1:22am
reversal:
find a way to take your profits before a reversal.
After the signal bar was triggered there were a lots bar going your way but price went back up
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