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Daily Chart 3-Candle

  • #1,121
  • Nov 7, 2018 11:49pm Nov 7, 2018 11:49pm
Quoting celguek
{quote} is indi that showing multi currency pair on your chart free? Seems a lot easier to just only click a button to change the currency pair. Which indi that able showing the resistance and support text? Thank you
yes, search for "symbol changer"
trading is like dancing, don't think and just listen to the music!
  • #1,122
  • Nov 12, 2018 1:16am Nov 12, 2018 1:16am
GJ short running nicely. beautiful h4 short signal with a lot of overhead resistance:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 52 KB
trading is like dancing, don't think and just listen to the music!
  • #1,123
  • Nov 12, 2018 4:58am Nov 12, 2018 4:58am
Quoting birdland
GJ short running nicely. beautiful h4 short signal with a lot of overhead resistance: {image}
Beautiful GJ Short, birdland!
  • #1,124
  • Nov 13, 2018 5:35am Nov 13, 2018 5:35am
I really like this strategy, but I feel like it is not very common to spot the perfect trade setup. However when they do come by, I feel like it pays off. I go through a couple of pairs as my daily routine before the London open, looking for that 3rd candle reversal opportunity. Does anyone else feel the same?

Also can some please explain clearly how to identify a trend continuation?


Thanks in advance
  • #1,125
  • Nov 20, 2018 11:25pm Nov 20, 2018 11:25pm
eurusd daily chart looks like a perfect setup right now, anybody alive in this group?

also people who have been using this strategy
what would you say the win percentage has been for you using this strategy?
  • #1,126
  • Nov 21, 2018 12:01am Nov 21, 2018 12:01am
Quoting JaySniper
eurusd daily chart looks like a perfect setup right now, anybody alive in this group? also people who have been using this strategy what would you say the win percentage has been for you using this strategy?
yes on a daily chart the short signal is clear. i am short since yesterday from a h4 signal.

the winning percentage all depends how you set your SL, TP and your BE protection stops.
mine so far is +73% with all my trades since the start of this method.
most of the trades reach a 1:1 risk/reward and some are running quite nice with huge profits.
trading is like dancing, don't think and just listen to the music!
  • #1,127
  • Nov 21, 2018 12:25am Nov 21, 2018 12:25am
Quoting birdland
{quote} yes on a daily chart the short signal is clear. i am short since yesterday from a h4 signal. the winning percentage all depends how you set your SL, TP and your BE protection stops. mine so far is +73% with all my trades since the start of this method. most of the trades reach a 1:1 risk/reward and some are running quite nice with huge profits.

thats amazing, I have become pretty alright at spotting these reversals on daily now, I mean to be honest its not rocket science. I just need a better understanding on trend continuations. 73% thats amazing bro. I just took a short on eu lets see how it plays out. do you only use this strategy or combine them with others ?
  • #1,128
  • Nov 21, 2018 12:29am Nov 21, 2018 12:29am
Quoting JaySniper
{quote} thats amazing, I have become pretty alright at spotting these reversals on daily now, I mean to be honest its not rocket science. I just need a better understanding on trend continuations. 73% thats amazing bro. I just took a short on eu lets see how it plays out. do you only use this strategy or combine them with others ?
i use different strategies.
this strategy i am still learning.
well, lets see how it works after 200-300 trades;-)
trading is like dancing, don't think and just listen to the music!
  • #1,129
  • Nov 25, 2018 6:19am Nov 25, 2018 6:19am
NJ 1W,right?
Attached Image
  • #1,130
  • Nov 25, 2018 11:56pm Nov 25, 2018 11:56pm
Quoting piduqu
NJ 1W,right? {image}
no, because bar#3 didnt make a new high.
the best to download the indicator from page 1 and observe the signals made by the indi, then you understand it very clearly.
trading is like dancing, don't think and just listen to the music!
  • #1,131
  • Nov 26, 2018 4:54am Nov 26, 2018 4:54am
@birdland I see, you are right.
  • #1,132
  • Edited Jan 11, 2019 4:00am Jan 10, 2019 4:38am | Edited Jan 11, 2019 4:00am
Potential Long entry on Cable (GBP/USD) at 1.2723 - see attached H4 chart.

I've got my stop set at 1.2703, just below the latest Swing Low, so a 20 PIP risk.

I'm aware that this is a higher-risk trade, as this setup has already yielded an 80 PIP profit the first time that level was hit yesterday.

Let's see what happens when New York opens in the next 25 minutes.

By the way, where is everybody? This thread has gone really quiet over the last two months.

I don't understand this, as Simone's trading system seems rock-solid to me.

It has great profit potential by finding high Reward : Risk ratio trades at Swing Low and Swing High points.

Is there anyone out there?!?

___________________________

POSTSCRIPT - Friday 11th January at 11:22 am UTC.

My Cable (GBP/USD) Long trade kicked in this morning UK time at 9:06 am UTC, at 1.27227.

Less than a couple of hours later, at 10:55 am UTC, I closed it at 1.28269.

Profit was +104.2 PIPs, ie over 50 PIPs an hour.

Reward : Risk Ratio on this trade was over 5:1!!!

Maximum drawdown during the trade was -13.1 PIPs ... ie virtually nothing

That's why I love @simoneg 's Daily Chart 3-Candle system!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd-h4-admiral-markets.png Size: 12 KB
Click to Enlarge Name: gbpusd-h4-admiral-markets-2.png Size: 16 KB
  • #1,133
  • Jan 14, 2019 3:07am Jan 14, 2019 3:07am
i still like to use the setup described here, but i use only the daily, weekly and monthly levels.
the h1 and h4 levels cluster too much the chart with lines.
but the higher time frame levels are a great help and are my "line in the sand".
trading is like dancing, don't think and just listen to the music!
  • #1,134
  • Jan 16, 2019 2:24am Jan 16, 2019 2:24am
Quoting birdland
i still like to use the setup described here, but i use only the daily, weekly and monthly levels. the h1 and h4 levels cluster too much the chart with lines. but the higher time frame levels are a great help and are my "line in the sand".
You make a good point @birdland about how the shorter timeframe S+R levels can clutter up the chart - I find this too.

You say you use only the Daily, Weekly and Monthly levels ... but do you trade only on these timeframes?

Or do you trade on, say, the 4-Hour chart using Daily, Weekly and Monthly S+R levels for guidance?
  • #1,135
  • Jan 18, 2019 2:52am Jan 18, 2019 2:52am
Quoting loudoniii
{quote} You make a good point @birdland about how the shorter timeframe S+R levels can clutter up the chart - I find this too. You say you use only the Daily, Weekly and Monthly levels ... but do you trade only on these timeframes? Or do you trade on, say, the 4-Hour chart using Daily, Weekly and Monthly S+R levels for guidance?
i trade most of the time the H4 charts from where i get the signals and sometimes the H1 charts, when i see a good setup.
but i dont use the H1 and H4 lines as a resistance or support described in this forum here. i use of course the daily, weekly and monthly levels.
so trading from H4 and sometimes H1 charts, BUT levels only from the higher ones.
trading is like dancing, don't think and just listen to the music!
  • #1,136
  • Jan 18, 2019 5:45am Jan 18, 2019 5:45am
Hi simoneg,

Thanks so much for having shard this system.
I have managed to get hooked on to swing trading and also coded up some bots
using the concept behind 3 bar swing.

You are a star.

ciao
  • #1,137
  • Jan 20, 2019 9:14am Jan 20, 2019 9:14am
Quoting birdland
{quote} i trade most of the time the H4 charts from where i get the signals and sometimes the H1 charts, when i see a good setup. but i dont use the H1 and H4 lines as a resistance or support described in this forum here. i use of course the daily, weekly and monthly levels. so trading from H4 and sometimes H1 charts, BUT levels only from the higher ones.
That's cool, birdland - sounds like you use the system pretty much the same as I do. The H4 charts are my bread and butter charts, trading off H4 setups within the general framework of the D1, W1 and MN S+R levels.

The 3-bar Swing Low / Swing High reversals are really reliable entry triggers, I find.

However, I note that the SwingPoints indicator does NOT indicate the correct entry levels. For example, the system rules says that for a SELL entry, the correct entry point is:

1. Bar 1's OPEN, if Bar 1 has a BEARISH body.
2. Bar 1's CLOSE, if Bar 1 has a BULLISH body.

The SwingPoint indicator indicates as a SELL entry point Bar 1's CLOSE, if Bar 1 has a BULLISH body - this is not correct.

The SwingPoint indicator also indicates as a BUY entry point Bar 1's CLOSE, if Bar 1 has a BULLISH body - this is also not correct, as the rules say the entry point should be Bar 1's OPEN.

I'll drop a note to SwingMan about this.
  • #1,138
  • Jan 20, 2019 9:40am Jan 20, 2019 9:40am
Quoting candyman752
Hi simoneg, Thanks so much for having shard this system. I have managed to get hooked on to swing trading and also coded up some bots using the concept behind 3 bar swing. You are a star. ciao
Hi candyman752

I am very interested to hear that you have coded up some bots using the 3 bar swing concept ... I'd be keen to hear more about these if you are OK to share?

I find simoneg's Daily Chart 3-Candle system gives very reliable entry signals from the 3-bar swing rules, and trade it on a manual basis at the moment. If there was a way of at least partially automating that using an EA, that would be very interesting.

Best wishes, loudoniii
  • #1,139
  • Jan 21, 2019 12:30am Jan 21, 2019 12:30am
Hi @birdland,

can you please confirm the remark by @loudoniii (#Post 1137)?
I can then check the indicator later. Unfortunately I have another project in progress now.
  • #1,140
  • Jan 21, 2019 1:13am Jan 21, 2019 1:13am
Hi @birdland and @loudoniii,

if you have time, you can test an indicator, maybe that helps …

The fractals are drawn in Level 1 for 1 bar left and 1 bar right (=> Neptune's Trident … )

Then Level 2 for the position of the fractals for Level 1 (1 fractal left / 1 fractal right), and then Level 3 for the position of the fractals for Level 2.
(I'm not doing any further description here, you can find more in Lindsay's Trident-book, or later in a thread from me).

At the second bar after the fractal or for break out of the trendlines, you can define entrys.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4-Trident levels.png Size: 26 KB
Attached File(s)
File Type: ex4 smTrident Levels_v3.ex4   29 KB | 1,535 downloads
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