Quad Candle System

I am looking for a downtrend CADJPY from the Fibo 50.0 to the 76.4 & arriving close to the Full Moon...let's see what happens...

Jeff

I Have entered another Trade here is the EURNZDThe NZD is going down and the EUR is rising a tad... Price expected to hit the OPL with almost a 90 pip gain


Jeff

Remember to keep as much control over your risk as possible.

Risk Reward Ratio.

If risk is 100 pips then target should be minimum 100 pips to 400 pips.

Masterrmind.........

$10,000 Account Basic Trading Plan

General Approach: As per Post 1 guidelines using Quad Patterns and the Master Octive Trading Frame

Time Frame: D1 only

Symbols: Market Watch (mostly from a selection of the 28 main currency pairs + Gold and Silver)

Main Strategies: QCS (Technical + Fundamental)

Minor Strategies: (hedging + cash injection)

Lot Range:

Max Lot Size (per trade) and Recommended Volume Ranges

1. Max Lot Size = Equity/10000
2. Recommended Volume Range = [Equity/100000 to Equity/20000]

If Equity >= $10,000 then Max Lot Size = 1.00 lot --> recommended [0.10 to 0.50]

10K Equity (Max Lot Size = 1.00)
Trade 1 @ 0.10
Trade 2 @ 0.20
Trade 3 @ 0.30
Trade 4 @ 0.40
Trade 5 @ 0.50
Tot. Volume = (0.10 + 0.20 + 0.30 + 0.40 + 0.50) = 1.50 (1.5* Max Lot Size).

Max Open Trades: 5 (unless locked in at BE+pips)

Risk:

Assigned Risk Per Trade ARPT (Max.): 5%

Assigned Risk Per Account ARPA (Max.): 15%

Drawdown (Max DD): 30%

Peak To Trough (Equity Max.): 30%

Trade Setups: As per QCS Guidelines in Post 1

Trading Days: Any day of the trading week (apply lower relative risk if trades entered on Friday due to possible weekend gap or FOMC or HIN)

Trade Analysis: Frequent (end of week and monthly ongoing)

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

I see not too many worthwhile setups so I'm on the sidelines for now.

Here is the AUDNZD pair:

Stop: just below OFBZ @ 1.03760
Target 1: 1.05591
Target 2: 1.06201
Target 3: 1.07422

Might be worth a shot at going long but not really a pair I want to get into at this stage so I'll not be trading it.

If you trade it keep risk small on first entry and add in trades at higher octive levels.

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

Conslidation and an engulfing formed showing that a bottom might be found and it could go up now. I'm in this trade still and until it goes to a TP or SL I won't be able to enter another one due to my account budget. Starting January I'll have to rethink the budget thing and make deposits. I think this month I won't reach the 4% plan but I'll wait and see.

You also might like to consider pairs with a higher ADR which may translate into larger moves and faster profit making.

It can go both ways ofcourse so as always watch the risk.

I like how you are aware that your monthly target of 4% may not be reached and that you are not ferociously chasing it ...

I'm yet to enter the market this month so I have much work to do.

I don't really want to force trade though, being patient is the key to getting into great setups and from these will flow great returns.

Masterrmind.........

It looks like an easy setup where the price starts to go to the upside!

I Placed a Trade on this one....let's see how this is going to go

My all time and only trading symbol is GBPJPY because of its high returns. You need patience.
Here is a proof of how good was your pre-trade analysis. Picture speaks louder.
Now what are your TP levels?

Yes but the AUD is under plenty of pressure so be careful if trading it.

Masterrmind.........

I am planning to take profit at 4/8 of MML. Because I think Sterling was fairly valued even at that level and it should return to 4/8 by today or Monday.
What do you think.

Targets to be used initially should align with Risk Reward (RR) such as; 1RR, 2RR, 3RR and 4RR.

Where:

1RR is the Risk Reward ratio of 1:1 (risk 1 x OctiveSL pips to gain 1 x Target pip)
2RR is the Risk Reward ratio of 1:2 (risk 1 x OctiveSL pips to gain 2 x Target pips)
3RR is the Risk Reward ratio of 1:3 (risk 1 x OctiveSL pips to gain 3 x Target pips)
4RR is the Risk Reward ratio of 1:4 (risk 1 x OctiveSL pips to gain 4 x Target pips)

Stops can then be 'aligned' with chart structure later if desired provided a minimum of 1RR is maintained at all times for all entries.

Maximum QCS Target is 10RR (only from ideal OPL's - refer to the Master Octive Trading Frame)

Short Entry @ OPL_TOP and target @ OPL_0;
Long Entry @ OPL_BASE and target @ OPL_8.

Minimum SL is not less than 1 Octive Gap.
Maximum SL is not more than 2 Octive Gaps.

Refer to the Master Octive Trading Frame (MOTF) as a reference for setting all valid SL & Target levels.

Based on your short setup on GBP.JPY and the current Master Octive Trading Frame the levels would be as follows:

Master Octive Trading Frame - Octive Gap = 312.5 pips

SL (max.) @ 153.626 [625 pips (2 x Octive Gaps)]
SL (min.) @ 150.501 [312.5 pips (1 x Octive Gap)]
Entry @ 147.376
Target 1 @ 140.625 [675.1 pips]
Target 2 @ 137.500 [987.6 pips]
Target 3 @ 134.375 [1300.1 pips]

You can work out your RR ratio based on using 1 Octive Gap or 2 Octive Gaps as your risk (you can use any SL within 1-2 Octive Gaps).

Looking at a 2 Octive Gap SL of 625 pips you can see that Target 1 (SL of 675.1 pips) is still greater (Target pips/SL pips = 675.1/625 = 1.08RR).

Notes:

1. Be aware that the Master Octive Gaps may recalculate based on the formulas applied within the indicator and gaps typically increase by a factor of 2 or they may remain the same, the Master Octive Trading Frame may also shift dynamically 4 octive gaps in the direction of a strong move.

2. GJ symbol has experienced such a MOTF shift (4 x octives and octive gap increase from 156 pips to 312 pips)

3. I do not use the MML terminology, rather I use OPL_x which means Octive Price Level (or Octive Price Line) and where 'x' is a particular level.

4. One reason for applying lower initial risk on Entry 1 is for the case where the Master Octive Trading Frame has recalculated just after you have made an entry and where you wish to align your setup with the current MOTF. If you applied a 2% risk on entry 1 and your trading plan allows risk per trade of 5% then you have the flexibility to 'increase' the SL to 4% (double octive gap) and still remain within your 'trading plan rules' just so long as you remain within maximum account risk. You also have the option of simply following the initial MOTF setup especially in a situation where multiple entries are already open in the live market. Being insync with the Master Octive Trading Frame is the best approach, experience tells me so. But a thorough analysis both tech+fund is good form, you need to convince yourself that the choice you made is the 'best' choice at the time.

5. There are several issues with going short ... price has already closed within the next higher Gann Square suggesting a possible continuation up the chart especially if the next few days do not tend to 'roll' price over. I'd be monitoring trade progress very closely next week for 'minor' pullbacks in the PA and a possible push to higher levels. Early Feb 2018 is where price hit the Master Octive Trading Frames current OPL_TOP of 156.250.

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

AUD/NZD Update. I'm waiting a setup for a buy trade.

Nice chart.

Watch your risk on any entry into this setup as you can see the strong D1 rotation candle.

What is your entry setup strategy?

Stops ?

Entry conditions ?

Targets ?

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

Quad candle pattern on octive levels. Once it has occured, i will think all the stuff like tp and sl.... :-) Basically the SL i would put it under the pattern +20 pips

Having it all worked out in advance is very useful, ofcourse you do not know the exact entry level or the time of entry at this stage but understanding 'how' the stops and targets would be placed on a 'given' entry level is important.

I stipulate a minimum of 1 Octive up to a maximum of 2 Octives for the stop on every D1 entry using the QCS methodology.

Placing stops a few pips under structure is generally alright but you must ensure that sufficient 'breathing space' is afforded your entry.

Later I will post some charts with examples.

Knowing what risk you are applying and how you plan to add in additional entries is also very important.

On any given QCS setup I can place on the chart all this information.

I then simply monitor trade progress and risk across the entire account and make adjustments as necessary.

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

Quad Candle Dashboard

No Quad Patterns evident on the 30 symbols shown.

However, there are 6 Octive Short Signals and 1 Octive Long Signal.

Which one might we trade ?

Is there any positive swap advantage ?

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

AUDJPY

AUDNZD

AUDUSD

EURJPY

NZDJPY

NZDUSD

USDJPY

All negative swap in the direction of trading on this platform.

One option might be to get into a shorter term (a few days only) faster mover, but which symbol might that be ?

Hard to tell, right !

So what else can we do here ?

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

Quad Candle Dashboard

Does it hold any useful information ?

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