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Quad Candle System

  • #4,021
  • Feb 6, 2020 7:19am Feb 6, 2020 7:19am
Quoting Masterrmind
{quote} EURUSD [D1 :: P64] {image} EURUSD [D1 :: P256] {image} Yes same convergence. Note the increase in the Octive Gap from 30.5 pips to 61 pips. Note the swing low shown in the P256 chart and how price made a nice leg up to 1.11694. Masterrmind...............
I am very pleased with that, thanks for having a look
Dave
  • #4,022
  • Feb 6, 2020 7:51am Feb 6, 2020 7:51am
Quoting OAPDave
{quote} I am very pleased with that, thanks for having a look Dave
Not a problem at all.

Time for some rest for me I'm afraid.

Good trading,

Masterrmind..............
Master your Mind then Master your Trades
  • #4,023
  • Feb 11, 2020 1:56am Feb 11, 2020 1:56am
10K account update

SL moved to BE+pips on 2 entries of 2 symbols to protect positions.

The locked in trades now allows me to add in additional volume above and beyond the set limit if desired although trading volume is no where near max at this stage since several pending orders are yet to trigger.

At some stage I will choose a symbol with positive swap and trade QuadToQuad on a W1 Chart.

QuadToQuad simply means following the signals from Quad Long to Quad Long or Quad Short to Quad Short or any other combination of valid Quads.

I will explain more about this in the next post.

3 cycles still active.

1K account

No changes

2 cycles still active.

Masterrmind.........
Master your Mind then Master your Trades
  • #4,024
  • Feb 12, 2020 2:38am Feb 12, 2020 2:38am
Quad Candle System - Master 1K

GBPCHF [D1]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 58 KB

CADCHF [D1]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 60 KB

Masterrmind.............
Master your Mind then Master your Trades
  • #4,025
  • Feb 12, 2020 2:44am Feb 12, 2020 2:44am
10K account

I have just closed out 1 UJ entry simply to recover the drawdown from the 1st trade (loss).

Should price pullback I may add in another trade at the same volume.

Closed out trade profit exceeded the initial loss.

Masterrmind.............
Master your Mind then Master your Trades
  • #4,026
  • Feb 12, 2020 4:25am Feb 12, 2020 4:25am
Lots of reasons to be cautious going long, decision of Octave acceptance or rejection ? but a Quad pattern as popped up at a key level, so taking a small interest
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDailya.png Size: 99 KB
  • #4,027
  • Feb 12, 2020 4:56am Feb 12, 2020 4:56am
Quoting OAPDave
Lots of reasons to be cautious going long, decision of Octave acceptance or rejection ? but a Quad pattern as popped up at a key level, so taking a small interest {image}
Go long with not more than 3% risk.

244 pip stop with a 488 pip target near the yellow line.

BE after 1RR.

Hold out for the target at about 2RR.

Price does have some lovely falls from grace it could hit though ... chart structure look left ... hmmm.

Masterrmind.........
Master your Mind then Master your Trades
  • #4,028
  • Feb 12, 2020 5:10am Feb 12, 2020 5:10am
Quoting Masterrmind
{quote} Go long with not more than 3% risk. 244 pip stop with a 488 pip target near the yellow line. BE after 1RR. Hold out for the target at about 2RR. Price does have some lovely falls from grace it could hit though ... chart structure look left ... hmmm. Masterrmind.........
Sound advice, but only giving it a 61 pip risk, think that very big down bar will be a problem to overcome , and I will view it as an Octave rejection if it stops me out, hence I will reverse.
Sorry just my way
Thanks for the interest
Dave
  • #4,029
  • Feb 12, 2020 7:40am Feb 12, 2020 7:40am
10K account

If the W1 bar closes bearish on Gold at week end I will enter short and follow a QuadToQuad sequence from early in the following week.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 45 KB

Risk across the account will continue to adhere to QCS Guidelines.

If a Quad Weekly Short does not form on Gold then I will look elsewhere for a potential setup on another symbol, however, positive swap will be a prerequisite to any entry taken.

Note: I will be applying some different examples of Quad Setups on this account with brief explanations prior to entry, if traders want more information then you'll need to ask a question in this thread.

Masterrmind.............
Master your Mind then Master your Trades
  • #4,030
  • Feb 12, 2020 7:59am Feb 12, 2020 7:59am
10K Account

Some trades taken out for a small gain.

Refer to myfxbook for additional information on actual trades closed out.

I may very well apply pending orders (Limit orders) at currently closed out trades initial entry prices at same volumes.

If I do set these up I will post a chart, perhaps tomorrow or early next week depending on my analysis of the PA.

ps. At month end I will provide a trade performance summary.

Masterrmind..............
Master your Mind then Master your Trades
  • #4,031
  • Feb 13, 2020 5:16am Feb 13, 2020 5:16am
Been battered to death, but the question is
As it ?
Dave
Attached Image(s) (click to enlarge)
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  • #4,032
  • Feb 13, 2020 8:45am Feb 13, 2020 8:45am
Quoting OAPDave
Lots of reasons to be cautious going long, decision of Octave acceptance or rejection ? but a Quad pattern as popped up at a key level, so taking a small interest {image}
Now added a cautious target ?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSDDailyb.png Size: 83 KB
  • #4,033
  • Feb 13, 2020 9:20am Feb 13, 2020 9:20am
Job Done no fuss
Attached Image(s) (click to enlarge)
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  • #4,034
  • Feb 13, 2020 5:06pm Feb 13, 2020 5:06pm
Sorry if i'm not participating, but i' ve been busy. Anyway i'm always following the thread with great interest

Mr.G

P.S Interesting quad setup on OIL
  • #4,035
  • Feb 14, 2020 6:46am Feb 14, 2020 6:46am
Quoting OAPDave
{quote} Now added a cautious target ? {image} {image}
Nice pickup off a Quad Long as price has moved north over 100 pips since the Quad Entry Candle Open Feb 12.

Masterrmind............
Master your Mind then Master your Trades
  • #4,036
  • Feb 14, 2020 6:56am Feb 14, 2020 6:56am
Quoting MrGreen95
Sorry if i'm not participating, but i' ve been busy. Anyway i'm always following the thread with great interest Mr.G P.S Interesting quad setup on OIL
No problem, if your busy then you are busy.

See you when you have the time, I'll be here.

As for Quad Setup on Oil, on a D1 TF the Quad completed the Quad Entry Candle was yesterday.

But it was certainly a nice Quad, if the bulls continue to run it up the chart, time will tell.

Masterrmind.............
Master your Mind then Master your Trades
  • #4,037
  • Feb 14, 2020 7:16am Feb 14, 2020 7:16am
Quoting OAPDave
Job Done no fuss {image} {image}
GBPUSD [D1 Chart]

Quad Longs for about a 1 OG target off the OPL_5 level certainly would have yielded good results.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 42 KB

Nasty swap to the long side would have made shorter term plays more attractive, in and out over several days rather than a few months.

Masterrmind..............
Master your Mind then Master your Trades
  • #4,038
  • Feb 14, 2020 7:31am Feb 14, 2020 7:31am
Mastermind
Question please
If we think Dollar is king ? would it help to view all US crosses to compare there position within the same Octave my case 256 your case 64 would this way act as some kind of strength meter
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURUSDDaily.png Size: 101 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 94 KB
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  • #4,039
  • Feb 14, 2020 7:50am Feb 14, 2020 7:50am
Quoting OAPDave
Mastermind Question please If we think Dollar is king ? would it help to view all US crosses to compare there position within the same Octave my case 256 your case 64 would this way act as some kind of strength meter {image} {image} {image} {image} {image} {image} {image}
I certainly don't think it would hurt.

What you are attempting to do is add a degree of confluence to your trade setup.

As for a strength meter reading PA can certainly help but its quite subjective at times and the market will do what the market will do.

I certainly do not condone the use of a strength meter indicator for example the one you show in the top right corner of your chart since its filled with 'lagging' indicators and price can change in a heart beat making the use of the indicator ineffective.

Using the Octives and relative positioning well then that might just be a different matter.

Masterrmind...............
Master your Mind then Master your Trades
  • #4,040
  • Feb 14, 2020 8:00am Feb 14, 2020 8:00am
I have decided to close out all trades from both accounts now since its the end of the week and PA is indicating some form of a pullback.

All trades were closed out in profit.

Several pending orders remain in place.

I will reassess possible entries back into these pairs over the next few days as well as consider other Quad Setups.

Good trading,

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