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Quad Candle System

  • #3,221
  • Feb 5, 2019 5:35am Feb 5, 2019 5:35am
Quoting dev_19_81
Hello Mastermind Thanks for all your hard work and sharing the valuable tools with us. Still practicing the New Method.... Entered Long on EUR/USD as the price respected the Gan lines for return to OCT 4 line.. {image}
You are most welcome.

An interesting setup and great to see you in practise mode as well as greater than 1RR.

Trend can certainly be seen to be up on your chart when price continues to trade above that prime Gann line.

However,
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 47 KB

When you are able, attempt to add confluence into the mix by using fundamental analysis, harmonics and other QCS trading factors.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,222
  • Feb 5, 2019 9:01am Feb 5, 2019 9:01am
Quoting Masterrmind
{quote} Thankyou for your support it is duly noted. Participation is what makes the thread far more interesting otherwise its just like I'm preaching to myself which is not necessary. A half dozen keen participants that post their ideas from time to time would be more than enough just to keep the thread interesting. In any case I have the MT5_DL5 trading account to trade so the plan is to show it as a transparent approach for a minimum of 12 months. Its a shame so many 'traders' seek out the easy way in the hope that an Expert Advisor will drag...
Thank you Masterrmind,
It's always a pleasure to be here and to read what you have to say! I like the fact that you really take the time and certainly believe in what you do when it comes to the Forex. I know your methodology works and that is why I am here. I have been studying this going on 4 years, which I tried so many systems and indicators. Your advice here as to not use those indicators and oscillators really gets me to not use them. It's Market Structure that is the Key, and to what the Big Banking Institutions "Big Boys" that has got me interested with the Forex.

I always value what is on here and thanks to you I am trying real hard!

Thank you again Masterrmind for All you do!
Happily Married to MY College Sweet Heart!
  • #3,223
  • Edited Feb 6, 2019 12:31am Feb 5, 2019 11:59am | Edited Feb 6, 2019 12:31am
Regarding post # https://www.forexfactory.com/showthr...5#post11961045 for CADCHF I think it's better to wait a little longer before looking to short?
The descending trendline has just been broken so we should wait for a better place and a price action confirmation? I think two areas for inspection would be:

~0.76638 and ~ 0.78144 - 0.78737

Update: By the look of price movement a short could be tried if it closes under the trendline?
Attached Image (click to enlarge)
Click to Enlarge Name: CADCHF.rDaily.png Size: 66 KB
Forex - It's finger lickin' good
  • #3,224
  • Feb 6, 2019 3:45pm Feb 6, 2019 3:45pm
Buy: USD/THB - 31.2542
Estimated TP: 31.63 area / SL: 30.90 area

Reasons:

1) Quad Pattern + Bullish Morning Doji Star
2) Price in OPL_0 area
3) That zone is also a support zone
4) This declaration: " Finance Minister Apisak Tantivorawong said last week an overshooting currency will put export-reliant Thailand at a disadvantage and it is the central bank’s job to curb swings in the baht " - https://www.bloomberg.com/news/artic...ses-baht-gains
5) Elections approach

Downsides:

Paying interest on keeping position.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDTHB.rDaily.png Size: 54 KB
Click to Enlarge Name: USDTHB2.rDaily.png Size: 70 KB
Forex - It's finger lickin' good
  • #3,225
  • Feb 6, 2019 3:59pm Feb 6, 2019 3:59pm
I've got a question about the Gann Grid. I tried to enable it while looking at this chart but it shows strange? Am I doing something wrong?
In other currencies it looks good, but in some exotic ones it looks like in the attached picture?

Also as a side note question. In the Gann Grid, it's invalidated if price closes below the line or if it just pierces it?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURMXN.rDaily.png Size: 62 KB
Click to Enlarge Name: EURMXN2.rDaily.png Size: 83 KB
Forex - It's finger lickin' good
  • #3,226
  • Feb 7, 2019 1:50am Feb 7, 2019 1:50am
Quoting pipsandkfc
Regarding post # https://www.forexfactory.com/showthr...5#post11961045 for CADCHF I think it's better to wait a little longer before looking to short? The descending trendline has just been broken so we should wait for a better place and a price action confirmation? I think two areas for inspection would be: ~0.76638 and ~ 0.78144 - 0.78737 Update: By the look of price movement a short could be tried if it closes under the trendline? {image}
Apply the trendlines as a general guide only and certainly not as a sole reason for entry.

If an entry is to be taken based solely on a trendline and nothing much else then very very low risk should be applied.

Trendlines are better used in combination with unfolding PA as in a pullback followed by a continuation approach.

Not a pair I'm interested in trading at the moment though.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,227
  • Feb 7, 2019 2:01am Feb 7, 2019 2:01am
Quoting pipsandkfc
I've got a question about the Gann Grid. I tried to enable it while looking at this chart but it shows strange? Am I doing something wrong? In other currencies it looks good, but in some exotic ones it looks like in the attached picture? Also as a side note question. In the Gann Grid, it's invalidated if price closes below the line or if it just pierces it? {image} {image}
The Master Octive indicator can be applied on any symbol however, the Gann scaling will need to be modified in the settings.

In a later version of the indicator including the EA the process will be automated.

However, for now I suggest you start firstly with the current Octive Gap as the scaling factor and based on PA adherence modify the setting in factors of 2 either up or down.

Example, if current Octive Gap is 61 pips then you should try 61/2 or 61*2.

The projected gann line which is the line drawn from the High or Low must intersect at the Moon Phase date between the Gann High and Gann Low price levels without exception which means that the point of intersection cannot be above the Gann High price or below the Gann Low price otherwise this places it outside a valid Gann alignment making the setup completely invalid.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,228
  • Feb 7, 2019 2:18am Feb 7, 2019 2:18am
Example using the symbol USDMXN (since this broker does not list EURMXN).

USDMXN
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 135 KB

Start with the Octive Gap as the Gann scaling factor then modify it by factors of 2 and reassess PA alignment.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,229
  • Feb 7, 2019 2:37am Feb 7, 2019 2:37am
Quoting Masterrmind
Example using the symbol USDMXN (since this broker does not list EURMXN). USDMXN {image} Start with the Octive Gap as the Gann scaling factor then modify it by factors of 2 and reassess PA alignment. Masterrmind...........
Example Setup structure
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 54 KB

Note that this is a simple example trade setup showing a possible SL location and target zones within the Gann alignment.

I am NOT trading this symbol.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,230
  • Feb 7, 2019 2:55am Feb 7, 2019 2:55am
Gann Grid Zones of Intersection (GGZI)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 63 KB

1. Traders should be very observant of these zones;

2. Understand that powerful moves occur within a few days or sometimes to the day at these GGZIs;

3. Look for confluent setups especially at Moon alignment times.

These hints alone can easily make your trading year very very profitable however, the trader must search for them.

Hint: Always look for symbols that show great respect to the Gann Grid lines and look to exploit these GGZIs.

Good trading,

Masterrmind..........
Master your Mind then Master your Trades
  • #3,231
  • Feb 7, 2019 3:00am Feb 7, 2019 3:00am
Quoting Masterrmind
Gann Grid Zones of Intersection (GGZI) {image} 1. Traders should be very observant of these zones; 2. Understand that powerful moves occur within a few days or sometimes to the day at these GGZIs; 3. Look for confluent setups especially at Moon alignment times. These hints alone can easily make your trading year very very profitable however, the trader must search for them. Hint: Always look for symbols that show great respect to the Gann Grid lines and look to exploit these GGZIs. Good trading, Masterrmind..........
GGZIs
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 63 KB

Masterrmind..........
Master your Mind then Master your Trades
  • #3,232
  • Feb 7, 2019 3:26am Feb 7, 2019 3:26am
Quoting Jeff59FX
I Know that W.D. Gann expressed that the market moves in "Time Cycles" .... I suspect that the price will go North reaching PAST S&R points. The Dashboard indicates of the upward trend. 2 bullish candles followed by 2 bearish candles looking to go short the market -BUT- the market continues Upward! Jeff {image}
AJ
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 60 KB

Price rolled over rather aggressively.

Now be mindful of the GGZIs.

They may act as very powerful forces on price either attracting it or repelling it.

ps. Ofcourse you did not know about this before but now you have another very powerful weapon you can use in your trading.

Masterrmind............
Master your Mind then Master your Trades
  • #3,233
  • Feb 7, 2019 3:38am Feb 7, 2019 3:38am
USDMXN

I posted an example chart above which will be used for the following Gann forecast question.

Lets assume you are long this symbol and after several days you have just hit TP3 zone.

Questions:

1. What date (or dates) would you forecast as a potential concern to the long side if the trade were still open in the market ?

2. What is the Master Octive level associated with this date ?

3. How would you play such a trade ?

Masterrmind............
Master your Mind then Master your Trades
  • #3,234
  • Feb 7, 2019 11:45am Feb 7, 2019 11:45am
Quoting Masterrmind
Example using the symbol USDMXN (since this broker does not list EURMXN). USDMXN {image} Start with the Octive Gap as the Gann scaling factor then modify it by factors of 2 and reassess PA alignment. Masterrmind...........
Thnak you for the help. I'm posting the chart to make sure I got it right?
The Octive Gap was 3906 and I made the GannGrid DN Scale -1953.0.
Attached Image (click to enlarge)
Click to Enlarge Name: EURMXN-gann-fixx.rDaily.png Size: 75 KB
Forex - It's finger lickin' good
  • #3,235
  • Feb 7, 2019 11:51am Feb 7, 2019 11:51am
Quoting Masterrmind
Gann Grid Zones of Intersection (GGZI) {image} 1. Traders should be very observant of these zones; 2. Understand that powerful moves occur within a few days or sometimes to the day at these GGZIs; 3. Look for confluent setups especially at Moon alignment times. These hints alone can easily make your trading year very very profitable however, the trader must search for them. Hint: Always look for symbols that show great respect to the Gann Grid lines and look to exploit these GGZIs. Good trading, Masterrmind..........

The intersection of the grid mostly matches support and resistance on the charts. These GGZI locations can be used for selling when the price goes under it and retraces back to it? Like support turned resistance? A good potential setup according to Gann in AUD/USD would be the 19 feb 2019?
Sorry if these are newbie questions but I'm trying to understand everything so many times my questions will be plain silly just to clarify I got it right.
Forex - It's finger lickin' good
  • #3,236
  • Feb 7, 2019 12:06pm Feb 7, 2019 12:06pm
Quoting Masterrmind
USDMXN I posted an example chart above which will be used for the following Gann forecast question. Lets assume you are long this symbol and after several days you have just hit TP3 zone. Questions: 1. What date (or dates) would you forecast as a potential concern to the long side if the trade were still open in the market ? 2. What is the Master Octive level associated with this date ? 3. How would you play such a trade ? Masterrmind............

1. What date (or dates) would you forecast as a potential concern to the long side if the trade were still open in the market ?

That would be 19th February especially if it would happen around Master Octive 4 that is known to be hard to get it pierced

2. What is the Master Octive level associated with this date ?

The Master 4 Octive

3. How would you play such a trade ?

Should it reach around that area and have confidence more in the trade I would put a stop loss under the Master Octive 3 to conserve some of the profits?

As additional confluence weekly the trendline still shows to hold and we have an engulfing around it meaning price should hold and still move up?
Attached Image (click to enlarge)
Click to Enlarge Name: USDMXN.rWeekly.png Size: 55 KB
Forex - It's finger lickin' good
  • #3,237
  • Feb 7, 2019 12:19pm Feb 7, 2019 12:19pm
Buy EUR/MXN 21.72456
SL 21.42736 TP 21.99015

Reasons:

1) Weekly Bullish Morning Doji Star (bought on a retracement of the blue bar to reduce drawdown or sl)
2) Double Bottom on daily chart
3) Price under Master Octive 0 area
4) Mexico Interest Rate estimated to remain the same. I've checked previous rate estimations and they proved to be mostly spot on so I think that based on this the interest rate will remain unchanged. Also inflation is under expectations so there should be not a big reason for interest rate hike?

Downsides:

1) EUR seems to be bearish overall
2) Price sticks to Gann Line ( found this out after learning the fix on the chart )
3) Expensive swap

Currently I have this and USD/THB open. In both I feel somehow against the trend but since I decided to enter I will stick to the plan to establish discipline.
This week I won't look for more trades since tomorrow it's going to be Friday.
Another goal is to have no more than 3 open trades at the same time.

*Additional follow-up on USD/THB. Friday is an interesting day since the candidates will have to register as it's their final day. Based on the names in the race it's expected to see tensions along the road. Should the list be only Junta approved the elections volatility effect will be gone, I guess...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURMXN.rWeekly.png Size: 36 KB
Click to Enlarge Name: EURMXN.rDaily.png Size: 75 KB
Forex - It's finger lickin' good
  • #3,238
  • Feb 8, 2019 12:56pm Feb 8, 2019 12:56pm
Quick update on trades:

1) USD-THB it arrived in a couple of pips from the TP area. Based on the quick price reaction in that area it's probably a guarded area to avoid speculative attacks against THB (fast increase in a short time)? Still the bias should be bullish
2) EUR-MXN on the 4 hrs chart formed a descending channel and also a AB=CD pattern? It doesn't look good on the weekly chart either, too big of a retracement. 21.50 is an important area to look at regarding the future of this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: EURMXN.rH4.png Size: 55 KB
Forex - It's finger lickin' good
  • #3,239
  • Feb 8, 2019 8:39pm Feb 8, 2019 8:39pm
Quoting pipsandkfc
{quote} Thnak you for the help. I'm posting the chart to make sure I got it right? The Octive Gap was 3906 and I made the GannGrid DN Scale -1953.0. {image}
Yes thats right.

'-' sign for Downtrend in the Gann scaling parameter.

'+' sign for Uptrend in the Gann scaling parameter.

Rule for Gann Scaling Muliples:
Use multiples (or divisors) of 2 only either up or down and ensure that the Gann Projection Line (GPL) always intersects the Moon Phase vertical line between the relevant Gann High and Gann Low price levels.

Example:

Octive Gap = 3906 pips

Valid Gann scaling for Uptrend
= +3906 or
= +7812 (2*3906) or
= +15624 (2*2*3906)
Not valid when Gann Scaling breaks the Rule above !

Octive Gap = 3906 pips

Valid Gann scaling for Downtrend
= -3906 or
= -1953 (3906/2) or
= -976.5 (3906/2/2)
Not valid when Gann Scaling breaks the Rule above !

As an exercise create a chart using all the Gann scaling cases above and state which values are NOT valid showing them on a posted chart.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,240
  • Feb 9, 2019 5:00am Feb 9, 2019 5:00am
Quoting Masterrmind
{quote} Yes thats right. '-' sign for Downtrend in the Gann scaling parameter. '+' sign for Uptrend in the Gann scaling parameter. Rule for Gann Scaling Muliples: Use multiples (or divisors) of 2 only either up or down and ensure that the Gann Projection Line (GPL) always intersects the Moon Phase vertical line between the relevant Gann High and Gann Low price levels. Example: Octive Gap = 3906 pips Valid Gann scaling for Uptrend = +3906 or = +7812 (2*3906) or = +15624 (2*2*3906) Not valid when Gann Scaling breaks the Rule above ! Octive Gap = 3906...
Masterrmind, Thank you, you have given me another Light Bulb moment with this post, its made life a lot easier now to set my charts in a more consistent way. I think it was the missing link that I needed.
Thank you
Dave
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