Railway tracks and other reversal and continuation patterns | Page 3 | Forex Factory

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Railway tracks and other reversal and continuation patterns

  • #41
  • Mar 11, 2019 4:46pm Mar 11, 2019 4:46pm
This is a similar one.

But be careful these could just be trend retracement.
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  • #42
  • Mar 11, 2019 6:04pm Mar 11, 2019 6:04pm
Quoting hibra68
This is a similar one. But be careful these could just be trend retracement. {image}
Do you find the daily chart is best to look for railway setups?
Nothing in life is to be feared, it is only to be understood.
  • #43
  • Mar 11, 2019 6:25pm Mar 11, 2019 6:25pm
Quoting matthew89
{quote} Do you find the daily chart is best to look for railway setups?
Definetly , daily is best.

Weekly is not my style.
  • #44
  • Mar 12, 2019 11:21am Mar 12, 2019 11:21am
Quoting hibra68
This is not a railway pattern but I still like the way it looks. I think when taking these trades we have to take advantage of tight stops and go for big RR {image}
This has moved up good.
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  • #45
  • Mar 12, 2019 11:24am Mar 12, 2019 11:24am
Quoting hibra68
Anything could happen but since it has been a bullish trend I'm looking for it to go down. {image}
Another good move
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  • #46
  • Mar 12, 2019 11:29am Mar 12, 2019 11:29am
Quoting hibra68
{quote} Here is another one might be ready to sell. Again trade at your own risk {image}
Moved down about 30 pips
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  • #47
  • Mar 12, 2019 11:35am Mar 12, 2019 11:35am
Quoting hibra68
{quote} Here is another one might be ready to sell. Again trade at your own risk {image}
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  • #48
  • Mar 12, 2019 11:38am Mar 12, 2019 11:38am
Quoting hibra68
{quote} Maybe its time to enter long Everyone trade at your own risk, Only trade demo if you are following my posts. {image}
Stubborn dont want to go up. Lol
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  • #49
  • Mar 12, 2019 11:56am Mar 12, 2019 11:56am
Hidra

Thank you for all the examples, you have showed us a lot of profitable ones, in your experience trading both patterns how would you say out of 10 trades which would be the successful rate? would you say it works above 50% of the time? and which pattern do you believe has the highest rate of performance? thanks a lot again
  • #50
  • Mar 12, 2019 12:05pm Mar 12, 2019 12:05pm
Quoting blanca
Hidra Thank you for all the examples, you have showed us a lot of profitable ones, in your experience trading both patterns how would you say out of 10 trades which would be the successful rate? would you say it works above 50% of the time? and which pattern do you believe has the highest rate of performance? thanks a lot again
I dont have statistics for that as I have not traded the patterns that long. I used indicators mostly without success. So the pattern trading is not new to me but I had not traded it before.
But for me the advantage is the RR. Your winners are greater than your losers.
Also try to look for confluences like s/r and s/d levels, trendlines etc. Try looking for fresh levels, price tends bounce off them regularly.
So I would appreciate it if everyone can join in and post some examples. It doesnt have to be limited to the 2 patterns and it doesnt have to be limited to dailt tf.
  • #51
  • Mar 12, 2019 12:21pm Mar 12, 2019 12:21pm
I would gladly post if you are so kind of writing in your charts if its a railtrack or a pinbar I still do not get pinbar formation very well, also we could define some rules of trading them, like size, trade the patterns on supports resistences, trenlines etc, specific timeframes, a more detailed place of the stoploss and maybe we could start posting charts that fulfill those rules so we can all see how profitable they are, thank you Hidra. I am very interested to see how it develops because I have the feeling this is very good, just needs some direction
  • #52
  • Mar 12, 2019 1:03pm Mar 12, 2019 1:03pm
Quoting blanca
I would gladly post if you are so kind of writing in your charts if its a railtrack or a pinbar I still do not get pinbar formation very well, also we could define some rules of trading them, like size, trade the patterns on supports resistences, trenlines etc, specific timeframes, a more detailed place of the stoploss and maybe we could start posting charts that fulfill those rules so we can all see how profitable they are, thank you Hidra. I am very interested to see how it develops because I have the feeling this is very good, just needs some...
Ok I have posted examples before but I am posting 2 more examples at the bottom charts.

Audjpy 4hr the ping rectangle is a bullish bar at the end of a down trend. The bullish bars low is lower than the bearish bar's low that is before it and the bullish bars wick is longer resembling a pinbar. Now this is not a pinbar but it resembles a pinbar with a big body and it shows up at the end of a down trend.
I dont have set rules on how to trade this or the other pattern. I'm just pointing out that this pattern often results in a reversal , so you decide how to trade it. You can either enter long right away , put your sl below the wick or you can wait for bullish bar confirmation etc etc.
If you can find these patterns at fresh levels of s/r and s/d than even better.

Nzdjpy 4hr is what I call railway track pattern, the closer the 2 bodies are in size the better. Now this could be viewed as Engulfing. Call it what you want, all i'm saying is that these often result in reversal as well.
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  • #53
  • Mar 12, 2019 1:08pm Mar 12, 2019 1:08pm
Here 4 hr and daily.

4 hr has the big bodied pinbar pattern

daily has classic doji pinbar and than bullish bar completing a morning star.

Morning and evening star patterns are also great at reversals.
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  • #54
  • Mar 12, 2019 1:09pm Mar 12, 2019 1:09pm
Anyway everyone just like all thread starters I would like to see participation otherwise I feel like I'm doing this for myself.
  • #55
  • Mar 12, 2019 1:36pm Mar 12, 2019 1:36pm
I have attached an image with some railway tracks I believe I have seen, if you are so kind to confirm if they are correct or not, it is the 5min dow jones today, wanted to test how reliable they are in small timeframes.
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  • #56
  • Mar 12, 2019 2:00pm Mar 12, 2019 2:00pm
Quoting blanca
I have attached an image with some railway tracks I believe I have seen, if you are so kind to confirm if they are correct or not, it is the 5min dow jones today, wanted to test how reliable they are in small timeframes. {image}
Yah man they look correct. I just dont know how good is 5 min.

Because of spread might be too high for 5 min.

I dont know about Dow jones. You should experiment and see if it might be better to place sl at top of railway pattern(for sells) and enter immediately instead of waiting for confirmation and go for 1 R:R

Its not currencies so it might work differently.
  • #57
  • Mar 12, 2019 4:04pm Mar 12, 2019 4:04pm
Daily has a big body pinbar.

4hr evening star.
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  • #58
  • Mar 12, 2019 4:12pm Mar 12, 2019 4:12pm
If it works out nice R:R

4hr developed evening star. Daily has big body pinbar.
Attached Image(s) (click to enlarge)
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  • #59
  • Mar 12, 2019 4:20pm Mar 12, 2019 4:20pm
Please all these are for Demo Only.


Do not risk any real money.

Practice, lets practice together I need more people to join and post analysis.
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  • #60
  • Mar 12, 2019 4:26pm Mar 12, 2019 4:26pm
dunno why I posted this

just wanted to show where lots of wicks gather, than price reverses. And confluence is the trendline.
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