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Quad Candle System

  • #3,321
  • Edited 7:01am Feb 15, 2019 6:19am | Edited 7:01am
Quoting Masterrmind
{quote} The big question is how are you going to play the levels ? Masterrmind...........
I have some thoughts but waiting for you to tell me if my levels are correct. If they are, may be Inside & Outside candles added to the Quad is all you need as we have stops and targets from the Square of Nine levels plus in time they will highlight decent chart S&R levels to work with.
  • #3,322
  • Feb 15, 2019 10:58am Feb 15, 2019 10:58am
I suppose its pretty obvious as price moves round the Square of Nine it produces different Phases/Chart-shifts or even Octaves, here is a visual view
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDailyb.png Size: 66 KB
  • #3,323
  • Edited 12:45pm Feb 15, 2019 12:20pm | Edited 12:45pm
End of the week report:

I still have the short XAU-EUR ( 2 x 0.01 positions because of 2 pinbars shown on the chart ) and 1 X EUR-USD long.
Currently they're in drawdown of about 2%. Gold seems to me to be mostly driven by fundamentals of US-China trade agreement so it'll be a while until it goes down, if it does.
As for EUR-USD, I think the bias is down but based on next week Brexit talks and news I might get a chance to close it on breakeaven, if not I'll take a SL on it.

I'm -1.4% this week and I expect to go a bit more next weeks due to Gold.

Masterrmind in your previous account I saw that you also kept positions for a longer period. Do you have any advice on this matter on averaging down the price or how to proceed in these situations? Is it better to just take the loss? For the gold the swap is not big but it's quite volatile.
Forex - It's finger lickin' good
  • #3,324
  • Feb 15, 2019 6:13pm Feb 15, 2019 6:13pm
Quoting Jeff59FX
So I placed a trade on the AUDNZD....Price is Breaking thru resistance level and headed upward! On the Quad Candle Dashboard; it is a QUAD LONG. Jeff {image} {image}
I see a reasonable technical approach but not much fundamental analysis going on here.

What are (or were) some of the reasons behind the fundamental drivers pushing the AUD up higher ?

QCS Traders apply the bigger picture and build a confluent case for entry.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,325
  • Feb 15, 2019 6:16pm Feb 15, 2019 6:16pm
Quoting OAPDave
{quote} What about the zone marked ? {image}
Looking for Gann level alignment is an important part of the analysis.

As I've briefly mentioned before its not so much about trying to fit the best settings to the price data but rather how responsive PA has been in general to the settings applied.

This is key.

Masterrmind............
Master your Mind then Master your Trades
  • #3,326
  • Feb 15, 2019 6:21pm Feb 15, 2019 6:21pm
Quoting OAPDave
{quote} I have some thoughts but waiting for you to tell me if my levels are correct. If they are, may be Inside & Outside candles added to the Quad is all you need as we have stops and targets from the Square of Nine levels plus in time they will highlight decent chart S&R levels to work with.
This approach can be used for intraday or longer term trading however, I suggest applying slightly different step values and making sure that there is some general adherence to the Gann levels by price in time.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,327
  • Feb 15, 2019 8:13pm Feb 15, 2019 8:13pm
Quoting OAPDave
{quote} I have some thoughts but waiting for you to tell me if my levels are correct. If they are, may be Inside & Outside candles added to the Quad is all you need as we have stops and targets from the Square of Nine levels plus in time they will highlight decent chart S&R levels to work with.
If your levels follow the original SQ9 design then they will be right as far as that is concerned.
Be aware that the applied step value in the SQ9 can be altered and for good reason !

There are a few parameters to be aware of which include; High price, Low price, Range divisor and ultimate step size.
Note that I applied a divisor of 9^2 but this is simply one of many that can be applied.

This is because the GG settings should be unique based on your symbol and TF of choice.

I do not use a set and forget, one size fits all approach when it comes to SQ9, GG and Master Octive setup.
At least not until the preliminary analysis has been conducted and I'm satisfied with the settings, this process can be rather quick if the historical alignment generates ideal adherence but can be more involved when the alignment is too skewed.

If alignment then appears to waver then the trader must apply a dynamic approach which simply means that a re-assessment must be undertaken.

The historical levels must be analyzed and an assessment of the alignment conducted.

In other words, how well do these settings align with your symbol and TF historically ?

This has to be analyzed over the vertical, the horizontal and the angled levels historically so that a future projection can be made.

Traders must be very familiar with the symbol (and TF).

If you are satisfied with the levels then you do not need to linger on the matter however, other settings should have been analyzed and then ruled out as 'non-adherent'.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,328
  • Feb 15, 2019 10:43pm Feb 15, 2019 10:43pm
Adherence of Price to the Gann Grid (orange ellipses) and the Master Octive (purple rectangles)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 60 KB

Note the accelerated momentum of price closer to the GGZIs !

When adherence at several levels occurs the trader can apply setups with greater confidence or a trader might be able to anticipate likely events in PA in the future.

Masterrmind............
Master your Mind then Master your Trades
  • #3,329
  • Feb 15, 2019 11:03pm Feb 15, 2019 11:03pm
Perfect Adherence to the Gann Grid and the Master Octive
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 39 KB

The greater the Adherence the more likely a great trade setup may occur from closer to these GG and Master Octive levels.

I haven't even started to apply the SQ9 dates yet.

Nor have I shown how to implement the Planetary Aspects into your trade setups.

Baby steps !

Masterrmind..........
Master your Mind then Master your Trades
  • #3,330
  • Feb 15, 2019 11:09pm Feb 15, 2019 11:09pm
Has any trader stopped to wonder what would happen to the settings in the Gann Grid once a Gann YRD High or Gann YRD Low is broken ?

Masterrmind.........
Master your Mind then Master your Trades
  • #3,331
  • Feb 15, 2019 11:51pm Feb 15, 2019 11:51pm
Quoting pipsandkfc
End of the week report: I still have the short XAU-EUR ( 2 x 0.01 positions because of 2 pinbars shown on the chart ) and 1 X EUR-USD long. Currently they're in drawdown of about 2%. Gold seems to me to be mostly driven by fundamentals of US-China trade agreement so it'll be a while until it goes down, if it does. As for EUR-USD, I think the bias is down but based on next week Brexit talks and news I might get a chance to close it on breakeaven, if not I'll take a SL on it. I'm -1.4% this week and I expect to go a bit more next weeks due to Gold....
I like the fact that you are looking ahead at the upcoming news and factoring that into your trade management approach .... very good !

Clearly you want to have a reason for staying in that trade that offers an opportunity to run it on longer or to exit for a small gain or to minimize any such potential loss.

There are few things I base my decisions on before cutting a trade short or allowing it more time to run on.

Above all is whether or not I have ample risk to play with on a given trade that might be treading water or is actually underwater.

If its collecting positive swap and the volume is low and there is a reasonable chance that the trade will head in the favored direction then yes I'll let it run on but continue to monitor its progress rather closely.

A higher volume entry on the other hand suggests that DD can accelerate much faster than a smaller volume entry based on pip movement in the red and this might mean I have to consider taking a loss sooner rather than later.

Current account progress also has plenty to say about what actions will eventually be taken.

For example,

If I've just started trading the account and its say in the last week of the first trading month and has made lets say 10% gain and the trade in DD is at say -3% then I may close it out in the case where its closer to the end of this month, there is some big news due out very soon or I've met my monthly gain target.

I would also consider chart structure and harmonics and factor all of these into my assessment.

I'm afraid there is no clear cut response because each trade should be assessed on its own merits since it is unique.

Trading with higher leverage or leverage in general always amplifies the effect of volatility.

If you were trading Gold at 1:1 leverage say with a 10K position then the current swings wouldn't feel very volatile at all.

Ofcourse trading in the FX retail space we are dealing with rather large leverage so the swings in PA can be rather dramatic at times.

Everything is quite relative.

Masterrmind............
Master your Mind then Master your Trades
  • #3,332
  • Feb 16, 2019 12:15am Feb 16, 2019 12:15am
Quoting Masterrmind
{quote} I like the fact that you are looking ahead at the upcoming news and factoring that into your trade management approach .... very good ! Clearly you want to have a reason for staying in that trade that offers an opportunity to run it on longer or to exit for a small gain or to minimize any such potential loss. There are few things I base my decisions on before cutting a trade short or allowing it more time to run on. Above all is whether or not I have ample risk to play with on a given trade that might be treading water or is actually underwater....

Thank you for the clarification. I've planned to trade with 1:1 and 2:1 maximum in my account at least in the first year until I see if I get it right. The price action fooled me, I should have waited for it to come closer to the Master Octive as that is the place of a good reversal. However, due to these open trades I will keep the other trades placed from now on with hard stops as otherwise I'll be risking my account balance greatly.
I feel however I must escape from the EUR-USD trade since the Friday spike seems to be, in my opinion just a profit taking Friday, not a real increase.
Forex - It's finger lickin' good
  • #3,333
  • Feb 16, 2019 12:17am Feb 16, 2019 12:17am
XAUEUR

DownTrend GannGrid
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 49 KB

If PA breaks out above the Gann YRD High then shift to the Uptrend GG (and vice versa).

The DownTrend GG can again be applied subject to price falling below the Gann YRD High.

UpTrend GannGrid
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 51 KB

Clearly the trend is up.

Notice how PA is adhering to the UpTrend GG.

As time unfolds opportunities open up for either a long or a short setup.

Sound confusing ?

If price continues to hold under or close to the UpTrend GG then its simply a game of patience.

Price can simply follow this GG line up forever, but question is will it ?

Based on this chart alone (only the technicals for now) how far do you anticipate price going before some resistance is met ?

If Monday closes well above this GG line what would that suggest over the short term horizon ?
Now what if you get a bearish D1 bar closing well under the GG line ?

What does Feb 19 suggest ?
What other confluence is showing on this chart at this date that you should at least be aware of ?

How far do you have to go back in time to see current price levels ? What happened ?

Always build up the bigger picture so you have a basic level of anticipation.

Note: 1 to 1 scaling of the Octive Gap is applied on both the Uptrend and DownTrend GG's.

Masterrmind............
Master your Mind then Master your Trades
  • #3,334
  • Feb 16, 2019 12:32am Feb 16, 2019 12:32am
Quoting Masterrmind
XAUEUR DownTrend GannGrid {image} If PA breaks out above the Gann YRD High then shift to the Uptrend GG (and vice versa). The DownTrend GG can again be applied subject to price falling below the Gann YRD High. UpTrend GannGrid {image} Clearly the trend is up. Notice how PA is adhering to the UpTrend GG. As time unfolds opportunities open up for either a long or a short setup. Sound confusing ? If price continues to hold under or close to the UpTrend GG then its simply a game of patience. Price can simply follow this GG line up forever, but question...

I think the price should hold to the Gann Grid until it's going to the extreme Master Octive at least? It was the 3 Drive Harmonics Pattern that brought confluence in that area as well. I think around 1.190 area there'll be a good place to average down if price action agrees with it. If the price closes under it we're good to go on the downside for a nice trend. The OPL 7 stopped the price for the moment but it's still pushing up. Feb 19 is a place where a price reaction should occur and since it's in the upper Master Octive it's a good place for a reversal as well.
The price hasn't hit the area in about 2 years but the issue is that it consolidated in the area 1115-1140 so it still has strength to go up some more? Plus this area in which I was caught gives it another reason to go up.
Thank you for these questions I think I started to understand the Gann Grid, for the SQ9 there is still a lot of time needed for me. We can use it as confluence in the following way: If the price holds under the upper Gann Grid line we can consider it still has reasons to switch direction, if it goes above it we stop looking for reasons to short. Is that correct?
Another reason making me feel it's going to break is that price accelerates in the upper trend when it's coming to an end. But unfortunately based on gold it did that 3 times yet it stick to the trendline.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUEUR.rDaily.png Size: 49 KB
Forex - It's finger lickin' good
  • #3,335
  • Feb 16, 2019 12:44am Feb 16, 2019 12:44am
Also as a side question, I've tried to update the Dashboard with additional symbols but it gives me an error message: Invalid Symbols Alert! Please check Symbols in settings.
I also tried to delete one of the listed symbols and it gives the same error, is it locked on the displayed ones only?
Forex - It's finger lickin' good
  • #3,336
  • Feb 16, 2019 12:45am Feb 16, 2019 12:45am
SQ9 Date Confluence for the Symbol XAUEUR

The chosen Central Date is when a clear swing low forms and indisputable would you not agree ?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 39 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 48 KB

What date is the Full Moon marked on my previous screenshot ?

Coincidence or not ?

Masterrmind............
Master your Mind then Master your Trades
  • #3,337
  • Feb 16, 2019 12:55am Feb 16, 2019 12:55am
Quoting Masterrmind
SQ9 Date Confluence for the Symbol XAUEUR The chosen Central Date is when a clear swing low forms and indisputable would you not agree ? {image} {image} What date is the Full Moon marked on my previous screenshot ? Coincidence or not ? Masterrmind............

Wow, things are starting to look clear. The thing is that Monday is presidents day so liquidity would be low and it's possible to have big swings.
But from the SQ9 Date Confluence how do we extract only 18 Feb? This is what confused me with the SQ9. We look for confluence in the Gann Grid with the Full Moon to sync?
Any we go in a diagonal because of the ascending trendline in the currency? Why not use the dates in line with it? 24 Feb for example?
Forex - It's finger lickin' good
  • #3,338
  • Feb 16, 2019 1:02am Feb 16, 2019 1:02am
Quoting pipsandkfc
Also as a side question, I've tried to update the Dashboard with additional symbols but it gives me an error message: Invalid Symbols Alert! Please check Symbols in settings. I also tried to delete one of the listed symbols and it gives the same error, is it locked on the displayed ones only?
Provided you type the symbol name exactly as it appears in Market Watch there should be no errors.

Symbols are separated by a comma (',').

If your data is not refreshed an error may occur.

Open the indicator settings, click "OK" and close it.

Other than that I'll need to see your Journal entries for error codes.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,339
  • Feb 16, 2019 1:09am Feb 16, 2019 1:09am
Quoting Masterrmind
{quote} Provided you type the symbol name exactly as it appears in Market Watch there should be no errors. Symbols are separated by a comma (','). If your data is not refreshed an error may occur. Open the indicator settings, click "OK" and close it. Other than that I'll need to see your Journal entries for error codes. Masterrmind...........
I have to type the currency name with .r as this is how they're displayed in my pepperstone account but it just resets to the standard values, even if I delete all and add others.
It doesn't give the error anymore it just display the same pairs. I'm clicking in the navigator on the QuadCandleDashboard_beta then going to symbols and try to delete all and add mine, but it just resets to the factory settings.
Forex - It's finger lickin' good
  • #3,340
  • Feb 16, 2019 1:13am Feb 16, 2019 1:13am
Quoting pipsandkfc
{quote} Wow, things are starting to look clear. The thing is that Monday is presidents day so liquidity would be low and it's possible to have big swings. But from the SQ9 Date Confluence how do we extract only 18 Feb? This is what confused me with the SQ9. We look for confluence in the Gann Grid with the Full Moon to sync? Any we go in a diagonal because of the ascending trendline in the currency? Why not use the dates in line with it? 24 Feb for example?
Precisely !

However, it is only a tool and not a 100% forecaster of the future (although if applied with confluence it is fairly accurate at times ... ha ha).

Simply use the 'predicted swing' date as a 'possible' day for a swing to occur and not much more.

This information alone can help immensely with your trade management approach.

Why not use the dates in line with it ?

Gann gave greater importance to some angles over others based on his own analysis of chart data.
This does not mean that angles/dates along the cardinal or ordinal lines will ALWAYS have precedence over the others, this is NOT true.

The PA of a given chart must be studied and used to generate the appropriate swing dates, and all this from historical PA.

The critical part here is to understand that the trader MUST define a Significant High or Significant Low in time and project forward from this date.

Masterrmind............
Master your Mind then Master your Trades
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