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Quad Candle System

  • #3,161
  • Jan 21, 2019 5:23am Jan 21, 2019 5:23am
Some chart browsing thoughts. That pinbar was wrong to trade as it was part in the last shoulder and in an extreme Master Octive Area.
Plus the previous 2 bars had almost matching highs.
Not saying up or down but that just by looking at price and see it in an extreme area we are better by not buying against it...
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.rDaily.png Size: 50 KB
Forex - It's finger lickin' good
  • #3,162
  • Jan 21, 2019 6:37am Jan 21, 2019 6:37am
Quoting pipsandkfc
Some chart browsing thoughts. That pinbar was wrong to trade as it was part in the last shoulder and in an extreme Master Octive Area. Plus the previous 2 bars had almost matching highs. Not saying up or down but that just by looking at price and see it in an extreme area we are better by not buying against it... {image}
Thats a Quasimodo setup, the Pin Low bar is your TP target.
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  • #3,163
  • Jan 21, 2019 6:47am Jan 21, 2019 6:47am
Quoting FXCyborg
{quote} Thats a Quasimodo setup, the Pin Low bar is your TP target.
Thank you fortheinput. Could you advise how you'd have traded this setup? Entry, tp and sl?
Forex - It's finger lickin' good
  • #3,164
  • Jan 21, 2019 6:34pm Jan 21, 2019 6:34pm
Hi Masterrmind!

Thank you for the update and really looking for to implementing the GANN technique!

....with this system does it matter as to when the right time to enter the market is critical in order to have a decent trade(s)

Thank you so much for your expertise!
Happily Married to MY College Sweet Heart!
  • #3,165
  • Jan 21, 2019 10:59pm Jan 21, 2019 10:59pm
Posting a Rally on the same currency pair..... After that Full Blood Moon that has happened last night! Now it's gaining Steam to the Upside! We'll see what Happens....
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_1087 Jan. 21 21.53.jpg Size: 355 KB
Happily Married to MY College Sweet Heart!
  • #3,166
  • Jan 23, 2019 3:01am Jan 23, 2019 3:01am
Strangest thing happened, the broker has changed the swap rate on my USD/THB long and now I'm actually loosing money by keeping the trade. It's weird because the Central Banks didn't adjust the rate.
It gives a lot of thinking about broker behavior.... It's probably the brokers behavior to confirm the trend has changed and it's time to profit from this...
Forex - It's finger lickin' good
  • #3,167
  • Jan 23, 2019 4:22am Jan 23, 2019 4:22am
Quoting Jeff59FX
Hi Masterrmind! Thank you for the update and really looking for to implementing the GANN technique! ....with this system does it matter as to when the right time to enter the market is critical in order to have a decent trade(s) Thank you so much for your expertise!
Yes timing is important but not critical on a higher TF setup such as D1 because you have a greater number of pips (in general) for price to travel before trades start getting closed out.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,168
  • Jan 23, 2019 4:24am Jan 23, 2019 4:24am
Quoting Jeff59FX
Posting a Rally on the same currency pair..... After that Full Blood Moon that has happened last night! Now it's gaining Steam to the Upside! We'll see what Happens.... {image}
Great use of the Moon confluence.

I'm actually pleasantly surprised that you have applied this in your setup.

I do hope you post the final outcome (good or bad) so constructive commentary can be given.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,169
  • Jan 23, 2019 4:34am Jan 23, 2019 4:34am
Looking at my Quad Candle Dashboard shows me only 2 Quads currently in action from the major trading pairs.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 91 KB

AUDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 50 KB

USDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 50 KB

Are any of these 2 pairs worth shorting (Quad Short pattern is shown) either for a shorter term or longer term setup ?

Masterrmind..............
Master your Mind then Master your Trades
  • #3,170
  • Jan 23, 2019 4:37am Jan 23, 2019 4:37am
Quoting Masterrmind
Looking at my Quad Candle Dashboard shows me only 2 Quads currently in action. {image} AUDJPY {image} USDJPY {image} Are any of these 2 pairs worth shorting (Quad Short pattern is shown) either for a shorter term or longer term setup ? Masterrmind..............
The AUD/JPY is in a lower Master Octive so it's kind of risky?
But what can we do about the tails? Aren't these AUD,JPY currencies invalidated for a quarter until the period changes? ( 64 )

Probably the USD/JPY would be better... 109.72 proved to be a good resistance so far.
Forex - It's finger lickin' good
  • #3,171
  • Jan 23, 2019 5:26am Jan 23, 2019 5:26am
Quoting pipsandkfc
Strangest thing happened, the broker has changed the swap rate on my USD/THB long and now I'm actually loosing money by keeping the trade. It's weird because the Central Banks didn't adjust the rate. It gives a lot of thinking about broker behavior.... It's probably the brokers behavior to confirm the trend has changed and it's time to profit from this...
This is actually not a strange occurrence.

The swap rates are revised often and then brokers apply the updated values based on their swap rate models.

This is why swap rate should not be the sole reason for taking a trade and I am certainly not implying that you are doing so since I'm sure you are not.

However, swap rates need to be monitored often especially in the case where the primary reason for leaving the trade to run on is due to swap.

The QCS approach ofcourse provides a guideline outlining swap.

Monitoring swap rates should be compared between brokers since not all rates are identical, sometimes the difference is quite large.

In a situation where you planned to open a trade on only 1 or a few pairs with swap rate backing them it would be a good idea to make an assessment of all relevant swap rates of your symbols of interest across multiple brokers understanding that some changes in swap rates will occur.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,172
  • Jan 23, 2019 5:31am Jan 23, 2019 5:31am
Quoting Masterrmind
{quote} This is actually not a strange occurrence. The swap rates are revised often and then brokers apply the updated values based on their swap rate models. This is why swap rate should not be the sole reason for taking a trade and I am certainly not implying that you are doing so since I'm sure you are not. However, swap rates need to be monitored often especially in the case where the primary reason for leaving the trade to run on is due to swap. The QCS approach ofcourse provides a guideline outlining swap. Monitoring swap rates should be compared...
Thank you for the input. The swap was not the first reason, it was a bonus to the trade and I was trying to apply the goal you posted: get positive swap by the end of the year. I honestly thought that swap changes only when central banks modify it, not at other moments?
Forex - It's finger lickin' good
  • #3,173
  • Jan 23, 2019 5:59am Jan 23, 2019 5:59am
Quoting pipsandkfc
{quote} The AUD/JPY is in a lower Master Octive so it's kind of risky? But what can we do about the tails? Aren't these AUD,JPY currencies invalidated for a quarter until the period changes? ( 64 ) Probably the USD/JPY would be better... 109.72 proved to be a good resistance so far.
I agree with you, UJ would be the preferred pair out of these two.

Question is would I trade it now ?

If you check out the octive gaps how many standard deviations is it away from what could reasonably be called the 'norm' ?

To answer this question you need to know what the usual 'default' octive gap is for AJ and also for UJ if both analyses are required.

Current octive gap for AJ on my chart (D1::64) shows 312.5 pips !
Current octive gap for UJ on my chart (D1::64) shows 156.3 pips !

Gann:

By applying the default settings both an UpTrend and a DownTrend Gann Grid shows some interesting zones for price.

Take a look at some of the intersecting Gann lines and see what happens at or close to these intersections.

Be aware of any visual scaling effect using MT4.

What you want to be looking for is price respecting Gann Grid lines similar to that of a trend line.

The Master Octive indicator (beta version) does not have an automatic adjustment currently active but future versions might especially in the case of the Expert Advisors (currently under development).

Although its unlikely that I will show all of the algorithm or how it is calculated I will give some clues along the way to those who might be interested.

Good news though is that a trader need not apply Gann or my take on Gann for the system to work as was the previous case (live account).

Invalidated Setup:

No pair is really invalidated since we trade multiple octives over the 'longer' term or say 2 to 3 octives over the 'shorter' term.

Although a setup might be 'invalid' over the full Master Octive Grid a smaller number of octives might not.

This is at the traders discretion to a certain extent whether or not to trade it or reject it.

Risk needs to be assessed including the size of octive gaps within the setup from SL to the target.

Recall that the 'default' octive gap decreases as the number of chosen octives in a shorter term setup reduces because the total range is now less.

Masterrmind..........
Master your Mind then Master your Trades
  • #3,174
  • Jan 23, 2019 6:02am Jan 23, 2019 6:02am
Quoting pipsandkfc
{quote} Thank you for the input. The swap was not the first reason, it was a bonus to the trade and I was trying to apply the goal you posted: get positive swap by the end of the year. I honestly thought that swap changes only when central banks modify it, not at other moments?
I suggest you do some swap rate analysis and checking (if you have the time) and check across multiple brokers.

If a particular broker is adjusting the spread whilst others are not then questions need to be asked.

Not all brokers are the same.

Masterrmind............
Master your Mind then Master your Trades
  • #3,175
  • Jan 23, 2019 6:08am Jan 23, 2019 6:08am
Gann on AU
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 58 KB

Then take a look at some Gann points of intersection and report back.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,176
  • Jan 23, 2019 6:09am Jan 23, 2019 6:09am
Long story short, I simply do not find anything worthy of a longer term setup.

Perhaps tomorrow will show more possibilities.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,177
  • Jan 23, 2019 2:04pm Jan 23, 2019 2:04pm
Quoting Masterrmind
{quote} Great use of the Moon confluence. I'm actually pleasantly surprised that you have applied this in your setup. I do hope you post the final outcome (good or bad) so constructive commentary can be given. Masterrmind.............
Thank you Masterrmind,
I wanted to study moon cycles which W.D. Gann was familiar with. I gained almost 43 pips but, I am still in the trade for the Long run. I decided to cancel out the Trade and wait to see if the price goes through the Fib 50 to head up to the upside. I am going to keep close watch on this currency pair

Jeff
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_1088 Jan. 23 12.59.jpg Size: 329 KB
Happily Married to MY College Sweet Heart!
  • #3,178
  • Jan 24, 2019 12:17am Jan 24, 2019 12:17am
A quick analysis after my first few weeks of live trading. I've found some good opportunities IMO, but I didn't follow through accordingly and manifested a total lack of discipline in trading thus I've got mediocre results. I've closed my USD-THB buy and XAU-EUR short as well, probably it's a mistake for doing so as they had some potential in it.
I will stop looking for trades until next week, time until I must establish a mental discipline plan for the trades.
As a side note, I've got the interest back, it seems they changed it discretionary...
Have a good trading week everyone!
Forex - It's finger lickin' good
  • #3,179
  • Jan 24, 2019 6:32am Jan 24, 2019 6:32am
Thanks mate, as someone gathering info here to learn the system your input is very helpful and appreciated.
  • #3,180
  • Jan 24, 2019 2:03pm Jan 24, 2019 2:03pm
Quoting pipsandkfc
A quick analysis after my first few weeks of live trading. I've found some good opportunities IMO, but I didn't follow through accordingly and manifested a total lack of discipline in trading thus I've got mediocre results. I've closed my USD-THB buy and XAU-EUR short as well, probably it's a mistake for doing so as they had some potential in it. I will stop looking for trades until next week, time until I must establish a mental discipline plan for the trades. As a side note, I've got the interest back, it seems they changed it discretionary......
Have a Great Weekend
Happily Married to MY College Sweet Heart!
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