Jay's Candle Sticker System

Just waiting for the candlestick pattern to form is not enough, we must have valid confirmation! A pattern may take days to confirm, it may never confirm if say another pattern appears before it confirms. If a new pattern appears while we are waiting for confirmation, then we switch to the new pattern and wait for it to confirm before placing a trade.

Hi JD,
It looks like you are right …
Makes me difficult sometimes to understand language used in Americanbulls. Had to read this few more times to get what’s is all about …well my English is far away form perfect.

usefull indicator...

Hi
On EURGBP the recommendation table says buy at 0.8738 where is this figure coming from? Close of the confirmation candle is 0.8773

The 0.8738 level is the close of daily candle of the 15th june, basically the doji candle which completes the pattern and the pattern got confirmed on the 18th of june and its close became our recommended Buy at 0.8773 level. Jay am I correct or perhaps might have decoded this incorrectly?

Hi JD,
Nice thread. Do you have any statistics of patterns that you use? I mean e.g. if you trade engulfing pattern - how often it is a winning pattern?

This is also my understanding.

We have traveled down this path before if you are truly interested comb through the thread, you will find what you seek. I feel like Yoda, but I don't feel like looking through the thread to get you the answer to this question since it has been a dead end. A prior member had the same question and created a spreadsheet of all the patterns and all the pairs based on the zip files which hold a snapshot of what subscribers see at AB. Ultimately, I think she deemed it 50-50.

First off thanks Jay for sharing.

I spent the entire day reading each and every comment before commenting.

If you can allow me to vent first.

I see many like in all other posts see nice profits and want to take a short cut. You will continue to jump from system and continuously give your money to the market. Some did mention this as well as the fact that this is a very young post. So give it time.

Then, before throwing comments and shade, make sure you understand what Jay has developed and then see for urself and respond with proof instead of theory as that doesn't help much. The fact that Jay is so patient is probably a good thing for some.

Jay also mentioned that the book taught him one key thing we should all learn from. and that is not just for this strategy/system but for all your forex life if ever you going to be successful. It is simply this... use and develop your OWN system. Trust me on this. You can take a little bit from everywhere and make it work. If you blindly follow someone's system you will fail no doubt.

The fact that you go against the most common advise that is all over forex posts around % of balance etc, is probably what gives you the edge as well. The one caution only be for you to refine you risk management.

Now that I fully understand your system as well as the various changes you spoke off, I have subscribed and will see how to trade and revert with feedback. My theory of forex wont add value to your system as I need to use yours in real trade and not past data.

Jay well done so far and please stop answering things that was covered in past posts. If people are really interested, they can go read. If you dont want to read, then this is not for you. Move on.

https://www.americanbulls.com/Signal...&Ticker=GBPCHF

GBPCHF - Our system’s recommendation today is to SHORT. The BEARISH ENGULFING pattern finally received a confirmation because the prices crossed below the confirmation level which was at 1.3157
GBPCHF

subscribed the thread. i like these candle pattern trading, similar to another thread in the forum. Just struggling with the exit and money management

Here is a pic from https://www.myfxbook.com/forex-market/patterns

you can see all the patterns by timeframe if you want.

UPDATE:

All trades have been taken since the start of this week using Jay's system.



Trade well.

Hi, how do you know where you are placing your stops for this again? Are you getting them off of americanbulls as well?

Each candlestick pattern has a natural stop-loss.

The stop loss for this Bearish Engulfing GBPCHF pattern is 1.3245

I am sure you are aware that we do not actually place the stop-loss on the chart in a way in which it could auto trigger.

For BEARISH ENGULFING The stop loss level is defined as the last high. Following the bearish signal, if prices go up instead of going down, and close or make two consecutive daily highs above the stop loss level, while no bullish pattern is detected, then the stop loss is triggered.

https://www.candlesticker.com/Patter...n&Pattern=2201

Stop losses are given to you when you have a subscription to AB (review zip files). You could also manually determine it by reviewing the candlestick pattern.

If you don't have a subscription simply wait for a SELL signal to trigger. If a stop-loss is triggered the SELL signal will present and you would be instructed to close the trade. So the simple BUY on BUY, Close on SELL, and Sell on SHORT works to keep you trading the system even if you are unaware of the stop losses.

https://www.americanbulls.com/SignalListFX.aspx?lang=en

GBPJPY BULLISH HARAMI
GBPJPY BULLISH HARAMI
GBPUSD BULLISH DOJI STAR

Three buy orders today.

I'm not sure about the other two but on the GBPUSD, I would buy carefully because on my end it looks like it will retrace at least 40 pips before either going up or down.

Hi JayDavis, thank you for this thread and for your system of trading. Do you trade also exotic pairs as INRUSD, NOKUSD, PENUSD, etc...? There is a BUY signal today (22th June) on these pairs on americanbulls.com website.

No, I don't trade the exotic pairs.

I think they may work, I just don't have access to them with my broker. Come to think of it I stick to the majors because that is what I have pretty much always done, which now that I think about it is not a good reason.

I did try BitCoin for a little bit, but it was too weird to continue. I did not seem to have full access to the instrument.

I had a few attempts early in my trading journey at trading some exotics. I remember the spreads were horrible. If you do consider and trade the exotic pairs let us know how they work out. Good Luck.

Have a good weekend.

For those trading my candlesticker system your weekend has started. If we receive any trades after the market closes today, we would not be able to act upon them till Sunday evening so your weekend started just after placing your trades yesterday.

-Regards

Enjoy too jay.
Sunday it is then.