Quad Candle System

Gold [D1 TF]

Now short.

Notice on the Dash view in a previous post that we have a Quad-Octive signal.

However, I still view this short setup as somewhat risky in the sense that price can still travel up nearer the highs and therefore the entry at the level I took is not the best but it will do.

Initial risk is just over 3% with a target (ambitious) of almost 10%.

If the trade moves favorably I will add in additional entries on the way down.

Masterrmind............

The target zone can be chosen via a number of different approaches.

Harmonic move to the downside.

Chart structure.

Gann projection.

One thing in common though is that at least a 1to1 RR is applied with 3-4 RR ideal.

Although entry one on a 1K account is minimal lot size (0.01 lots) the idea is to add in volume on favorable progress and then IF target is hit the gain will be very much greater than the initial 10% if you consider for example, another 3-4 entries and at larger relative volumes.

That's all from me today, trade well !

Masterrmind..............

TE will not show entry trade until a closed trade occurs.

In Post 1 there is a link to myfxbook for this account and it will show all current entries even if a trade has not yet been closed out.

Good trading,

Masterrmind.........

Gold

Plenty of news around on a host of different issues which can drive the price of Gold further up the chart.

A good reason to have a nice wide initial stop.

Don't worry too much about initial entry volume traded as an aggressive addition of volume can be added in once price starts diving below the 1500 handle.

This will also involve trade management especially using trailing stops to protect some floating profit from being erased.

The market must continue to be monitored because what we don't really want is for a floating loss to linger as can occur in a tightly range bound market.

In a way what we want to see is extremes in the news such that capital gets driven out of Gold and into the USD.

Patience is key here but so too is being very aware of what appears to be unfolding in the market.

Keep a watch over U-C trade war developments.

There are several other developments to watch as well.

Soon I may provide a projection of Price in Time for Gold.

Hopefully, other traders will post their own setups using the Quad Candle approach.

Masterrmind.........

Something I must say though is that should some floating profit be showing prior to month end it is likely that I will close out some profit in order to show a monthly gain flow from one month to the next.

Masterrmind........

Gold

Trade 1 now locked in at BE + pips for a risk free trade.

About 0.5% has been locked in at this stage.

Nice move down on this commodity.

Will now consider additional entry either today or possibly early next week.

Masterrmind.........

Price on Gold is currently around the 1480-1485 zone.

Chart structure suggests a possible bounce up could occur in and around this zone.

What Im looking for is any major sign of a reaction.

If Im at the charts at the time then I may consider tightening the stop to lock in 1% gain or a little more.

A pullback up the chart from these current levels would allow for another entry to be made at perhaps double the volume.

PA will provide the path.

Masterrmind.........

Progress so far on the Gold symbol

Market Gap on new week may erase any floating profit or considerably add to the PnL.

I have some profit locked in so unless the stop gets skipped on an unfavorable move against my position its a 'risk free' trade.

Notes:

1. Total entries @ 1 XAUUSD (short side)
2. Trailing stop @ 0.5%
3. Floating PnL @ +1.57%
4. DD @ 0.48% (myfxbook data)

Masterrmind..............

Lunar Event on Monday

What might this suggest ?

Hint: To answer this question requires a 'study' on lunar impacts and chart structure !

Forming an expectation of what is likely to occur is the key.

Good trading,

Masterrmind.............

Positive swap accumulation has already erased the commission on this first trade !

Hint: keep an eye on the little things that matter over the mid to longer term.

Masterrmind.............

doing well mate

Potentials for Next Week

These are presented here for other traders to consider ... they are not signals from me.

I suggest traders take a good long look at their respective charts (ensure data has been refreshed on your charts before analyzing)

A 1K account as I'm using here does not offer me the luxury of trading multiple setups across several symbols which means I am unlikely to trade any of these symbols.

But they may well offer opportunities for other traders.

Masterrmind............

Here are the 4 charts in default Quad mode !

Certainly take note of the ranges indicated by the D1 candles over the previous 2 bars (days) ... relatively large yes !

Masterrmind.............

if you adopt numbers simplification:
Year 1: 1000 to 2000
Year 2: 2000 to 4000
Year 3: 4000 to 8000
Year 4: 8000 to 16000
Year 5: 16000 to 32000
Year 6: 32000 to 50000
Year 7: 50000 to 100000
Year 8: 200000 to 400000

etc . .

Only just started this account (1K) but I will run it over a minimum of 12 months (fully transparent: TE and myfxbook).

Join in with a live account if you wish the more the merrier !

ps. unless traders ask questions in this thread I'll probably just post updates from time to time and let the TE/myfxbook do the talking.

Good trading,

Masterrmind.............

good luck
focus and you will do it
market is dynamically moving
as more "2 eyes", my thread "trade all", may help! may not

The numbers can have any number of combinations but at the end of the period what matters most are 3 things:

1. How well you managed risk;
2. How well you managed your trades; and
3. What your PnL shows.

Masterrmind..............

could you employ me as a "thread friend consultant" with no salary
I feel you will do it.

Clearly the start capital makes a huge difference.

I may start an account with 10K or 25K or more.

Obviously with a low start 1K its a little boring in terms of the slow gains made over a rather long period of time.

What I mean is that even if the account makes a 100% Gain in Equity its still only $1000.

Whereas on a 10K start its only a 10% Gain in Equity for the same $1000.

If you get used to trading with much larger capital its a bit of a choir sometimes coming back to trade a little 1K account.

In trading though, everything is relative!

My aim with the 1K start account is to back up the initial account that showed a 40.5% gain over a 12 month period at less than 20% DD but beating it and showing smaller-funded traders what is possible in the real trading arena.

An important point about trading the Quad Candle System is to be very aware of your floating loss and drawdown profile.

Drawdown is part of the business of trading but your aim should be single digit territory and certainly never exceed 30% DD.

Nevertheless, there is some balance between Gain in Equity and Max Drawdown ... traders should focus on getting this right.
Afterall, you have to risk something in order to have the potential to make something !

$Risked Versus $Gained (but at what MaxDD and at what relative frequency did the DD unfold?)

Masterrmind.............

What exactly are you suggesting ?

Masterrmind.............