Bionic Chart - The easiest forex navigation

Hello dear Bionic Traders,


My assessment of 14:11 yesterday at noon that the price will go down again has been fulfilled with 45 pip, but I had not drawn the zone correctly.


At point A, we see the price turned sharply upwards. The key candle at Point B took out this strong movement and would therefore have been the right zone.


In the M5, this assessment would have been easier and clearer. This is simply due to the fact that the candles are formed randomly based on the time and of course there is a better overview in smaller time units. This can always lead to misinterpretations. The bionic candle is not a Holy Grail, because if it were, the stock market would no longer work in the future. But it can help us to find more entry points, as well as the optimal exit. I would also recommend at the beginning not to make the mistake of focusing exclusively on the Bionic candle. Since you don't know the candle yet, there are many mistakes, which ultimately leads to frustration. Let the bionic candle run in your chart and draw your zones along the way. This will show you, how the Bionic candle works and you will also find further entry points.

I wish you a successful trading day.

Best regards Michael

Important message to everyone visiting our thread for the first time.

First of all, we are pleased that you would like to take part in this exciting exchange. So that you get the most important basics, please have a look at my first post in the interest of all members:

https://www.forexfactory.com/thread/...rex-navigation

Thank you and we look forward, to a constructive exchange with you. Greetings Michael

The first page of this thread looks well written and quite articulate. I will go through it over the weekend and I hope to find wonderful nuggets. Good work, Michael. Subscribed.

Hello Mitiblotch, first of all, welcome to our thread and thank you for your first rating. The bionic candle is of course not a holy grail, but if you deal with it intensively, you can use it to plan more precise entry and exit zones in the future. I keep my fingers crossed for you and all participants here look forward to your feedback. Kind regards Michael

Important for everyone


Hello dear Bionic Traders,


Since this thread is in English, I have my 6 introductory videos spoken in English on the first page of this thread. I know that there are errors in the YouTube translation in your local language. I have now summarized the text of the 6 videos on 14 pages especially for you and saved it as a PDF. The text is in German, but it might be easier for you to translate this text into your national language.

I hope that helps you.

Greetings Michael

Hello dear Bionic Traders,


The zone I posted this morning at Point C ...


... actually stopped the price. The lower zone also worked.


In the daily chart, the price has now reached a crucial zone again. He could possibly turn in the field marked blue, or he will break through this zone strongly. We will see it.

Kind regards Michael

Here were probably again the big ones, first all SL shaved off at the top and then through the resistance, which then also holds now, right?

Hello Ingo, to the left of your zone, in the Equilibrium, the big players bought the Dollar. I finished trading on Friday at 4:30 p.m.,and therefore don't know what the big players have bought in the limit area. I'll have a look at it by Monday at the latest, then I can tell you something about it. I wish you a nice weekend. Greetings Michael

Important message to everyone visiting our thread for the first time.

First of all, we are pleased that you would like to take part in this exciting exchange. So that you get the most important basics, please have a look at my first post in the interest of all members:

https://www.forexfactory.com/thread/...rex-navigation

Thank you and we look forward, to a constructive exchange with you. Greetings Michael

How the big players work



Hello dear Bionic Traders,

some have asked me where they can get more information on how the big players operate. To this end, I created a channel on YouTube 1 year ago, where we talk about exactly these points. What content you can expect there, can be found in my short video.



To get to my channel here is the link:

https://www.youtube.com/channel/UCCb...zsD2soUtb0CTqA

I wish you a great weekend

Greetings Michael

great! but a pity for me is that youtube.com is forbidden in the country that i am. could you be kindly show us a pdf or word file for the related videos so that i can read at least? many thanks!

Hello cinalex, you can find the text of the videos on my other blog. Greetings Michael

Hello dear Bionic Traders,

those of you who only work in the forex market without additional stock market data, of course, receive less information about what is happening in the market. But with the help of the Bionic Candle you can also see additional entries in the Forex market if you correctly identify the key candle.


During the price of the day there were a total of 9 good entry opportunities in the M5, with a relatively low risk. Of course, you don't know beforehand whether the price will go through the drawn resistance zone, but with good money management and a corresponding stop loss, you still get a good profit ratio. If a price rises sharply, the question arises again and again, how far back does the pullback go, before the price turns again. This question can often not be answered exactly in the M1, because the candles are sometimes too big. The solution is a corresponding tickchart, which we will talk about this week. I wish you a nice evening. Greetings Michael

Hello Michael, here is Rob,
you know me already from our phone calls and whatsapp.
I am very happy to take part in this project and I look forward to see how my trading can improve with the bionic candle.
When I compare my bionic chart with the one you have just posted, I see small differences in the candles e.g. the yellow ones.
I think this is because every broker provides slightly different prices.
You can see this in my uploaded picture.
Do you think this makes a huge differences in identifying the key candles?
best regards
Rob

Hello Rob, welcome to our thread, I am glad that you are here. The difference in the candles is completely normal, as each broker uses different liquidity providers, which automatically lead to different prices. This is another advantage of the Bionic candle, you can identify these different pricing more quickly. In principle, this is not a disadvantage, as the premium brokers have different price settings that make a candle look different, but show exactly the same price levels on the high and low. A yellow candle only shows that the close took place on the high and the blue candle that the close took place on the low. Although this is the strongest candle, it does not always show a zone where a trend reversal is taking place. In my videos, on the first page of this thread, you will find some starting points to identify these trend reversals. There are two theories. After an equilibrium, a key candle breaks out of the range and the second theory is that the invisible price zones are shifted up or down by a new key candle. With the Bionic candle, these key candles can be identified more easily, but I am not yet sure when an invisible price zone will be completely dissolved by the big players. That's why we created this thread to share our experiences with each other. Unfortunately, I had less time in the last few days because I still had to optimize some VPS Linux servers in the area of my algorithm profiling. In the next few days we will talk about the tick charts, which will make it easier to identify the strongest price zones. I wish you every success and we look forward to your insights. Greetings to Berlin Michael

Thank you Michael.
Regards
Lorne

Good Morning everyone,

thanks Michael for your work and effort and this great thread. I'm following your work for quite some time now and I love your creative and forward thinking approach :-). Today I took a trade in the EURUSD M1, marked the zone and the price was perfectly rejected by it.

But honestly I dont know the reason why - I'm looking at the charts and have a gut feeling, some kind of intuition (from watching the charts day by day?!), but for some time now I'm looking for the reason why this was a key candle. In the second screenshot you'll see what happend before and for me this key candle neither broke an Equilibrium nor did it shift by an old key candle. Am I missing something?!


Greetings from Germany
Jan

Hello Lorne, welcome to our place. The basic colors of the Bionic Candle are set on your chart, which you can change at any time in the settings. We are looking forward to your feedback. Greetings Michael

Hello Jan, a warm welcome to you too and thank you for your compliment. On the first page I posted 6 videos that include extensive explanations. You will also find the German text in the form of a PDF file under these videos. I hope that this will help you. I am glad that you are there. Greetings Michael

Advantages of the tick chart


Hello dear Bionic Traders,

Before we start with the tick charts, I would like to first show you what possibilities arise with it.


On November 4th, we see a small key candle at Point A that has stopped the falling price at Point B twice. After that, the price ran through this zone a few times as a fake breakout, but only the key candle at Point C was decisive because the price then continued to drop. At Point D we have now extended this key candle into the future.


We push the chart together a little and see that the price entered this zone on November 5th (at Point E) and then went down 50 pips. Basically this would have been a good trade, the problem was that this zone reached a size of 3.1 pip (Point F). Since I usually enter in the middle of such a zone and work with a stop of 1.5 pip, this trade would have worked without being stopped out. Nevertheless, this zone would have been too big for me.


Now let's take a look at this first, strong downward movement on an 8 tick chart. In this movement, we see at point A, the strongest candle within this movement.


This is exactly where we draw our key candle and see what happens in the future.


We can see that the price will go exactly into this zone, on November 5th and then goes down. The big advantage, we have reduced our zone three times. Instead of 3.1 pip to just under 0.8 pip. If we reduce our stop by three times, our risk / reward ratio increases automatically by three times and at the same time we reduce the risk if we should be stopped. These are huge differences, especially in the area of our money management. In addition, it often happens that an M1 candle is relatively large.


We see a strong upward breakout candle on the M1 chart that was 12 pips in size. In the 128 tick chart we can already see that the strongest candle is getting a little smaller. The more we reduce this tick chart, the more it becomes clear where the strongest candle is in the chart. At point A we see the strongest candle within the M1 movement on an eight tick chart. We have thus located exactly the zone where the strongest movement has taken place. This allowed you to reduce your zone from 12 pip to 2.6 pip. When the price came down from above, it went up again in exactly this zone. What is the reason for that? In the strong movement in the 8 tick chart you can see from the strong candle that there were no long traders in the market at this point in time. These long traders did not enter the market until the upper equilibrium, after which the strong movement took place. In order to get these long traders out of the market, the big players only had to run into this zone, where no long traders came into the market at the time. In this case, the tick chart helped to shrink the zone by 4.6 times. And that is a significant improvement in the risk-reward ratio.

I hope that this information will help you and we will continue with the tick charts tomorrow.

Kind regards Michael