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High Level Accuracy Method – “3-bar pattern Indicator/Alert”

  • #161
  • Feb 20, 2019 10:39am Feb 20, 2019 10:39am
Quoting pipsy7
like this for Xample , why cant he show that this ist on Live or crappeee demo = even if its educational {image}
I guess it doesn't really matter.
If traders are trying to learn from him it is ultimately their responsibility to only pull the trigger on live funds if they have confidence in the system. That comes from using a demo or live account over many trades, as well as seeing the setups in backtest.

Which is why I think the indicator here is invaluable.
Traders need to see the price action, then understand what it is actually saying on the chart.
An m5 engulfing pattern is nowhere near as important as a Daily pattern but as I hope to prove, enough of them on a chart at anytime frame can give traders a sense of where traders have fought for price, whether the bulls won or lost. It doesn't matter who was victorious, it's understanding that the interaction happened.

So for the OP to use a demo, I don't mind if he does. I think it's funnier that he would sit and wait for a trade based on very narrow parameters rather than read the price action and that can happen on a demo or live account, just to prove he was right and his system was bullet proof. I very much doubt he sat on the sidelines and watched the EU move away from his entry as he doesn't come across as someone that follows exact rules. It's a discretionary system after all.
  • #162
  • Feb 20, 2019 10:40am Feb 20, 2019 10:40am
i am always live, should you need me = ist NOT showin a Live Chart lol
da n0o0b + $hit_Disturber
  • #163
  • Feb 20, 2019 10:43am Feb 20, 2019 10:43am
Quoting pipsy7
i am always live, should you need me = ist NOT showin a Live Chart lol
keep watching and i'll see if i can show you the bit at the top

give a few minutes and it will refresh hopefully

Attached Image (click to enlarge)
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this is what i trade on
  • #164
  • Feb 20, 2019 10:48am Feb 20, 2019 10:48am
_____________ like this m8
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da n0o0b + $hit_Disturber
  • #165
  • Feb 20, 2019 10:54am Feb 20, 2019 10:54am
Quoting pipsy7
_____________ like this m8 {image}
i did that - i even left in my account number for you because I very much doubt it is of any use to anyone
  • #166
  • Feb 20, 2019 10:55am Feb 20, 2019 10:55am
I guess it doesn't really matter. = Totalleee a diff't Ballgame , u will find out after a few yrs under ur belt

______frikkin demo thats whut d dealers like u to do 1st [bad habits etc2 forming]
da n0o0b + $hit_Disturber
  • #167
  • Feb 20, 2019 10:57am Feb 20, 2019 10:57am
Quoting pipsy7
I guess it doesn't really matter. = Totalleee a diff't Ballgame , u will find out after a few yrs under ur belt ______frikkin demo thats whut d dealers like u to do 1st [bad habits etc2 forming]
are we still chatting?
I have a few years under my belt. i am as grey as you are
  • #168
  • Edited 11:15am Feb 20, 2019 11:03am | Edited 11:15am
are we still chatting? = nice Indeed m8 , we're on d same page = hopefully others will follow !

____fxc u still lurkin here = nvd just kiddin m8

____________ setups in backtest.= ist CRAPPPPPPP - - - fwdTest
da n0o0b + $hit_Disturber
  • #169
  • Feb 20, 2019 6:33pm Feb 20, 2019 6:33pm
Hi Firefox and other traders here.

As I mentioned in the other thread I'm super new to Forex, but learning quickly I guess.

Your indicator is a great help for me personally as it points out these powerful 3 bar setups. I still don't have a clue where the best places are, however
looking at the H1 chart it is great to see a cluster of these signals which perhaps points out the accumulation or distribution quite nicely, no?

Attached Image (click to enlarge)
Click to Enlarge Name: AUD CHF H1.png Size: 66 KB


Thanks from a humble beginner.
Empty your mind and let the market guide you
  • #170
  • Feb 21, 2019 3:09am Feb 21, 2019 3:09am
Quoting SunnyCoast
Hi Firefox and other traders here. As I mentioned in the other thread I'm super new to Forex, but learning quickly I guess. Your indicator is a great help for me personally as it points out these powerful 3 bar setups. I still don't have a clue where the best places are, however looking at the H1 chart it is great to see a cluster of these signals which perhaps points out the accumulation or distribution quite nicely, no? {image} Thanks from a humble beginner.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCHF.png Size: 106 KB

Hopefully the chart shows you how I build up my bias.
You have to decide whether you think the market is Bullish or Bearish. You can look to the data released by Australia or Switzerland.
You can do it all by looking at a chart if you are not into fundamentals. Best of all you combine the two.
However, you need to decide if you are a bull or a bear. Then the key is to look for areas on the chart which would confirm your bias.

For me the AUDCHF is bearish and I have labeled how I interpret the recent price action. When I have marked up my levels I look for pullbacks into resistance (broken support). This is where I want to see my 3 candle reversal as per the indicator on a smaller time frame.

However, you choose to use the indicator it needs to fit within your bias. That way you can track whether you are generating good ideas based on something measurable and you do that by keeping a record of all your thoughts and processes in a journal. If you are consistently taking the same trade after 100 -1000 trades you can start tweaking your methods but don't flip flop between strategies
  • #171
  • Feb 21, 2019 3:23am Feb 21, 2019 3:23am
Quoting NevFX
{quote} {image} Hopefully the chart shows you how I build up my bias. You have to decide whether you think the market is Bullish or Bearish. You can look to the data released by Australia or Switzerland. You can do it all by looking at a chart if you are not into fundamentals. Best of all you combine the two. However, you need to decide if you are a bull or a bear. Then the key is to look for areas on the chart which would confirm your bias. For me the AUDCHF is bearish and I have labeled how I interpret the recent price action. When I have marked...
Thank you NevFX.

Maybe you would certainly understand how thankful I am that you would take the time to illustrate to a beginner like me how you view a chart.
Please know that I will study this hard! My learning curve is steep, however I believe I'm up to the task.

I had better start a journal or something here on FF if I'm allowed(I'm a Junior Member) and I'll document my chart analysis and thoughts. It would greatly be appreciated if you could stop by from time to time and share your wisdom if you can. I take criticism humbly well from those who are willing to give advice so please don't pull any punches.
Empty your mind and let the market guide you
  • #172
  • Feb 21, 2019 3:55am Feb 21, 2019 3:55am
Quoting SunnyCoast
Hi Firefox and other traders here. As I mentioned in the other thread I'm super new to Forex, but learning quickly I guess. Your indicator is a great help for me personally as it points out these powerful 3 bar setups. I still don't have a clue where the best places are, however looking at the H1 chart it is great to see a cluster of these signals which perhaps points out the accumulation or distribution quite nicely, no? {image} Thanks from a humble beginner.


Glad the indicator is an help to you.

My personal view on your chart example is that AUDCHF on H1 is in a clear downtrend. So I'd be looking for sell opportunities only rather than buy - plus going down to lower time-frame to see how things look there for scalping. Depends what time frame you want to play and if you consider H1 is bottoming and likely to bounce possibly too.

But I notice that FXC yesterday posted a 'live' trade example on EURUSD M5 and was playing both sides of the market at the same time. Initially a sell signal then placed a buy order. The sell was counter trend in spite of FXC's repeatedly saying trade with the trend. Plus as someone else pointed out on his thread the initial sell signal wasn't even an engulfing bar! So he uses a great deal of discretion in picking his trades I feel (no doubt honed from years of screen practice and knowing when close enough is good enough I guess). Plus he personally trades against the traend too. So in the end up to each individual trader what suits them and what confidence they have in reading the market structure.

But I'm just learning like everyone else. You're best asking about potential trades to FXC for better feedback/analysis probably as he is the expert.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #173
  • Feb 21, 2019 3:58am Feb 21, 2019 3:58am
Quoting SunnyCoast
{quote} Thank you NevFX. Maybe you would certainly understand how thankful I am that you would take the time to illustrate to a beginner like me how you view a chart. Please know that I will study this hard! My learning curve is steep, however I believe I'm up to the task. I had better start a journal or something here on FF if I'm allowed(I'm a Junior Member) and I'll document my chart analysis and thoughts. It would greatly be appreciated if you could stop by from time to time and share your wisdom if you can. I take criticism humbly well from...
The great thing about trading is that it is a meritocracy. It's all down to you. So if you have an idea and you can justify it to yourself then you take the win or you take the loss. There is nothing anyone else can say to criticise your trade idea.

Just try to

Identify a trend.
Higher Highs + Higher Lows = Uptrend
Lower Highs + Lower Lows = Downtrend

Try and work out if a change in trend has occurred or whether it was a stop run around a range

• Sell high
• Buy low
• Buy broken resistance that is acting as support
• Sell broken support that is acting as resistance

If you are going to use the entry based on the 3 candle indicator
monitor how many times the open / high gets hit for a buy
&
open / low for a sell gets touched per signal candle.

Higher Time Frames trump lower Time Frames , so make sure you look at something like H4 - H1 - m15 in that order and see if you can decipher the price action.

Ultimately looking at charts for all the above all day for the rest of your life will result in you recoginising a good and valid setup.
  • #174
  • Feb 21, 2019 4:00am Feb 21, 2019 4:00am
Quoting NevFX
{quote} The great thing about trading is that it is a meritocracy. It's all down to you. So if you have an idea and you can justify it to yourself then you take the win or you take the loss. There is nothing anyone else can say to criticise your trade idea. Just try to Identify a trend. Higher Highs + Higher Lows = Uptrend Lower Highs + Lower Lows = Downtrend Try and work out if a change in trend has occurred or whether it was a stop run around a range • Sell high • Buy low • Buy broken resistance that is acting as support • Sell broken support...

Excellent advice I feel - and clear and concise.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #175
  • Feb 21, 2019 4:01am Feb 21, 2019 4:01am
Quoting Freefox
{quote} But I notice that FXC yesterday posted a 'live' trade example on EURUSD M5 and was playing both sides of the market at the same time. Initially a sell signal then placed a buy order. The sell was counter trend in spite of FXC's repeatedly saying trade with the trend. Plus as someone else pointed out on his thread the initial sell signal wasn't even an engulfing bar!
He was using an ICT order block to base that short entry.
The charts, methodology and terminology are all starting to point to someone that is aware of ICT
  • #176
  • Feb 21, 2019 4:14am Feb 21, 2019 4:14am
Quoting NevFX
{quote} He was using an ICT order block to base that short entry. The charts, methodology and terminology are all starting to point to someone that is aware of ICT

Interesting what you say about ICT - others have commented saying similar too. I remember looking at ICT's stuff a few years ago (he put an awful lot of free stuff out there). But I found it all a bit too vague and non-specific ... moved onto other things.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #177
  • Feb 21, 2019 4:48am Feb 21, 2019 4:48am
I am in a live trade short on GBPAUD ... I will post up some images showing my multi-time frame analysis when I get them all together, showing you how on multiple time-frames the indicator gave various signals to trade off and how I used and interpreted them and get a tighter stop loss.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #178
  • Feb 21, 2019 4:54am Feb 21, 2019 4:54am
Quoting Freefox
{quote} Interesting what you say about ICT - others have commented saying similar too. I remember looking at ICT's stuff a few years ago (he put an awful lot of free stuff out there). But I found it all a bit too vague and non-specific ... moved onto other things.


Attached Image (click to enlarge)
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maybe a useful yet subtle amendment to those looking to just purely trade the indicator without looking into the rest of the OP methodology

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  • #179
  • Feb 21, 2019 5:13am Feb 21, 2019 5:13am
Quoting NevFX
{quote} {image} maybe a useful yet subtle amendment to those looking to just purely trade the indicator without looking into the rest of the OP methodology {image}
What timeframe did you use Nev - nice clean entry
  • #180
  • Feb 21, 2019 5:17am Feb 21, 2019 5:17am
Quoting TheMonk
{quote} What timeframe did you use Nev - nice clean entry
Hi,
that was just an illustration of another variable, the setups can be used on any time frame.

Just make sure you are looking for longs at support / previous resistance and shorts a resistance / previous support
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