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High Level Accuracy Method With Little To NO Draw-down

  • #1,081
  • Feb 9, 2019 5:16pm Feb 9, 2019 5:16pm
If I understand this strategy correctly is this right?
Attached Image (click to enlarge)
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  • #1,082
  • Feb 9, 2019 5:39pm Feb 9, 2019 5:39pm
more like support/resistance area. Am I wrong?
  • #1,083
  • Feb 9, 2019 6:14pm Feb 9, 2019 6:14pm
I would like to know about how many setup do you see per day? Also how many hours are you trading this per day?
  • #1,084
  • Edited 7:51pm Feb 9, 2019 7:32pm | Edited 7:51pm
Quoting davek
{quote} Hi: My first post on this thread. I have finally caught up reading all the posts and thought I would reply to NevFX post on the GBPJPY H4 chart. I marked all the pertinent points, would this have qualified for a short sell? I know the engulfing bar may be a tad to large, what do you guys think? About a 2:1 risk reward. davek {image}
You can zoom in on the H1 and check out the bars in the same area of the 3 H4 bars. I could manually see a valid H3 setup (by grouping 3 H1 bars into 1) where the engulfing bar only engulfs 1 bar.
So I think if on a high tf the setup isnt perfect but has the shape, it is good to zoom in.
  • #1,085
  • Feb 9, 2019 9:35pm Feb 9, 2019 9:35pm
Quoting davek
{quote} Hi: My first post on this thread. I have finally caught up reading all the posts and thought I would reply to NevFX post on the GBPJPY H4 chart. I marked all the pertinent points, would this have qualified for a short sell? I know the engulfing bar may be a tad to large, what do you guys think? About a 2:1 risk reward. davek {image}
Its a good set up except the engulfing bar is too big, but what I have come to learn so far is that there has to be some discretion when it comes to engulfing bar size, and the 2 bullish or bearish bars size's that form part of the 3 bar set up.

In post #1042 ndatiusjamo said that my set up was not correct because both bullish bars (bodies) were not the same size. Then I went to look FX Cyborg's many screen shots from page #1, and guess what only one trade had the 2 bars almost the same size, but every other trade/screen shot didn't have the same size bars based on the bodies of course.
  • #1,086
  • Edited 10:04pm Feb 9, 2019 9:52pm | Edited 10:04pm
Quoting pipsquick16
{quote} Its a good set up except the engulfing bar is too big, but what I have come to learn so far is that there has to be some discretion when it comes to engulfing bar size, and the 2 bullish or bearish bars size's that form part of the 3 bar set up. In post #1042 ndatiusjamo said that my set up was not correct because both bullish bars (bodies) were not the same size. Then I went to look FX Cyborg's many screen shots from page #1, and guess what only one trade had the 2 bars almost the same size, but every other trade/screen shot didn't have...
I agree with you Pipsquick16 about bullish/bearish/engulfing bar sizes. I noticed the same thing with the charts that FX Cyborg posted on page one. We would let a lot of winners go bye if we pass on 3 bar setups that are not perfect (equal in size), although may have a few more losers too, but with such small stop losses should still come out ahead. I wonder what's the difference if the engulfing bar whether bullish or bearish is to large and engulfs both bars versus only engulfing the second bar and closing below it's open, is some deviation allowed? I'd like to have FX Cyborg comment on this.
  • #1,087
  • Feb 9, 2019 11:45pm Feb 9, 2019 11:45pm
Quoting kabelo75
I guess i missed explaination of an imbalance zone. What is it? anyone.
I dont think I saw an explanation but it shld be the starting area where price moves away strongly.
  • #1,088
  • Feb 10, 2019 12:12am Feb 10, 2019 12:12am
Hi FxCyborg

First of all a big thank you for sharing you wealth of knowledge and wisdom on trading for the benefit of all who want to take it.

I have noticed this thread about 4 days before and to be honest it was "love at first sight". I have been trading for the last 5 years and though I have not made a single withdrawal so far, I was so persistent that I have to win the fight and somewhere in my self, it says this is my way to go forward. From the last six months or so I have thrown out all my indicators and was trading only on plain charts and found out its far better thank trading with indicators. As it says "price is the only reliable indicator". I trade using important levels and was looking for something to compliment my knowledge, the reason why I visited FF forum. Apart from daily looking for the FF calendar, I stopped visiting its forums from long time. But this time I am sure its the real stuff what I have stumbled upon, because your explained set ups are how the market behaves.

All these last 5 days I have been going through each and every posts and comparing with my charts to make myself thorough of what I am learning and I should admit its an wonderful learning curve I have experienced.

From next week onward I will post my charts for your scrutiny (as well as others who already practiced and knows better of the set up)and I sincerely hope that my trading career start bearing fruits in the not-so-distant future.

I also appreciate from the bottom of my heart how you have shown respect even when handling the trollers and bickers.

Once again thank you for selflessly sharing your knowledge and your valuable time for this group.

God bless you
  • #1,089
  • Feb 10, 2019 1:57am Feb 10, 2019 1:57am
FxCyborg,

Thanks for the knowledge in this thread, I'll try to post setup whether it is failed or a winner so that it will be a lesson here.

Food for thought.

Attached Image (click to enlarge)
Click to Enlarge Name: 4h.jpg Size: 100 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 1h.jpg Size: 108 KB


If we trade on 4H, there will be a setup but not on 1H. So i guess it depends on what time-frame you are trading.


Regards,
Tom
  • #1,090
  • Feb 10, 2019 2:28am Feb 10, 2019 2:28am
Quoting tomdachi
FxCyborg, Thanks for the knowledge in this thread, I'll try to post setup whether it is failed or a winner so that it will be a lesson here. Food for thought. {image} {image} If we trade on 4H, there will be a setup but not on 1H. So i guess it depends on what time-frame you are trading. Regards, Tom
I dont think the two bullish candles on 4 hr chart are similar size and some are of the opinion the bearing engulfing bar would be too large.? Only my opinion from reading all the posts
  • #1,091
  • Feb 10, 2019 2:42am Feb 10, 2019 2:42am
Quoting airgead
{quote} I dont think the two bullish candles on 4 hr chart are similar size and some are of the opinion the bearing engulfing bar would be too large.? Only my opinion from reading all the posts
I saw the example picture on page 1, the two bullish/bearish candle are not usually similar size and also if the engulfing bar is too large it's because i read the article about imbalance that the zone is identified if there is strong move from that zone.

Thanks for the reply airgead.

Regards,
Tom
  • #1,092
  • Feb 10, 2019 3:04am Feb 10, 2019 3:04am
Quoting rdg
{quote} Hi, I hope this helps. {file}
Looks nice.
Thank you!
  • #1,093
  • Feb 10, 2019 3:15am Feb 10, 2019 3:15am
Nice Work Cyborgfx and the team, I'm really hooked on this thread

Quick question: I have difficulty understanding the 3rd engulfing candle rule, " ... It's close must close Below the Open of the 2nd Bull Bar's Close."
can u please explain this in another way ( rephares).

Kind Regards

Abzozo
  • #1,094
  • Feb 10, 2019 3:32am Feb 10, 2019 3:32am
https://www.investopedia.com/terms/b/bearishengulfingp.asp
  • #1,095
  • Feb 10, 2019 3:43am Feb 10, 2019 3:43am
Quoting Abzozo1
Nice Work Cyborgfx and the team, I'm really hooked on this thread Quick question: I have difficulty understanding the 3rd engulfing candle rule, " ... It's close must close Below the Open of the 2nd Bull Bar's Close." can u please explain this in another way ( rephares). Kind Regards Abzozo
3rd bear bar should close below 2nd bull bar's open for sell setup.

3rd bull bar should close above 2nd bear bar's open for buy setup.
  • #1,097
  • Feb 10, 2019 4:42am Feb 10, 2019 4:42am
Quoting Freefox
Hi All, I have written an indicator that I am currently testing that plots up/down arrows when it identifies the 3-bar patterns that FXCyborg has identified we trade off. For all the 6 trades that FXC showed in his opening post it captures all 6 of the setup bars . See all the images below showing the setup bars FXC traded off in the initial example trades he provided. I will make it available to all that want it as soon as I have completed testing it (but to not block up this thread I will make it available...
Kindly remember to PM FXCyborg first for his permission and review as he has expressed so earlier.
  • #1,098
  • Feb 10, 2019 5:04am Feb 10, 2019 5:04am
Attached Image (click to enlarge)
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  • #1,099
  • Feb 10, 2019 5:16am Feb 10, 2019 5:16am
Quoting kabelo75
I guess i missed explaination of an imbalance zone. What is it? anyone.

Me too i'd like to understand more about "imbalances zone". What are these zones, and why and how they form? What happens to markets? Why buyers/sellers have this behaviour?
  • #1,100
  • Feb 10, 2019 5:45am Feb 10, 2019 5:45am
Watch the video

https://www.forexfactory.com/showthread.php?p=11959557#post11959557
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