The best direction changing patterns; Quasimodo vs 5-0 Pattern | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Which system is the best? Or which combinations of systems work the best? 46 replies

Price pattern scanner where I choose the pattern 4 replies

Newbie: Best broker, best platform - trading off charts? 4 replies

The Best of The Best Trade Follow up RSI 6 Divergence 7 replies

Best Broker with Best Math Processor? 3 replies

Attachments: The best direction changing patterns; Quasimodo vs 5-0 Pattern
Exit Attachments

The best direction changing patterns; Quasimodo vs 5-0 Pattern

  • #1
  • First Post: Edited Jan 11, 2023 1:30am Jan 8, 2023 10:45pm | Edited Jan 11, 2023 1:30am
Please help each other to find the best direction changing patterns.

To me, finding direction change is the primary work
only then selection of entries & exits.

There could be some special indicators but I heavily rely on zigzag, horizontal and slanted (trend) lines.

Zigzag and Fractals are laging indicators but they help us to see HH, LH, LL & HL, they help us find horizontal (neck) lines and slanted (trend) lines and they help us see various patterns.

Basically HandD (head & shoulder) is expanded form of fractal and so are Quasimodo and 5-0.
However, there are a few different variations.

Fractals are turning points.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 77 KB
  • #2
  • Jan 9, 2023 2:11am Jan 9, 2023 2:11am
Personally I find it hard to memorize these patterns at first, but ICT explains those patterns more easily for me.
Also I think some trading "gurus" on Instagram are calling quasimodo "ChoCh" (change of character) nowadays. Haha.

"Absorption" and "falling distribution" though, for me are patterns that failed to materialize, therefore there is no trade to take from there.
  • #3
  • Jan 9, 2023 3:05am Jan 9, 2023 3:05am
if the neck lines are drawn then it may be a lot easier to see breakout and or bounce
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 45 KB
  • #4
  • Jan 9, 2023 5:57am Jan 9, 2023 5:57am
the neck line is broken already.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADM15.png Size: 33 KB
  • #5
  • Jan 11, 2023 1:18am Jan 11, 2023 1:18am
finding direction change is the primary work
only then entries & exits.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 30 KB
  • #6
  • Jan 12, 2023 9:43am Jan 12, 2023 9:43am
euraud updates
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM5.png Size: 31 KB
  • #7
  • Sep 9, 2023 9:39pm Sep 9, 2023 9:39pm
Finally solved the greatest mystery in Forex trading, "What is the Trend?"

By using 2 of greatest technical analysts that ever-identified trends in the financial markets - Fractals, created by the famous market trading theorist Bill Williams (trader) - Wikipedia, giving the Zig-Zag levels, combined with that movement on 3-timeframes as per Alexander Elder's Triple Screen, then you have established the TREND.

That would be a market condition, not necessarily a trading entry signal, however. You mention that Fractals and Zig-Zag levels are lagging but to me at least, they are fixed horizontal point unlike Moving Average which are constantly changing and much more subjective.

Let's look at examples, even 4 time frames:

Attached Image (click to enlarge)
Click to Enlarge Name: 2023-09-10_12-12-26.jpg Size: 207 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2023-09-10_12-13-05.jpg Size: 215 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2023-09-10_12-13-39.jpg Size: 202 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2023-09-10_12-15-19.jpg Size: 198 KB


As shown on the M15 chart, a suggestion for retracement type entry; your thoughts?

Anybody?

It takes a lot for me to IGNORE you, but you can try.
  • #8
  • Nov 7, 2023 7:59am Nov 7, 2023 7:59am
Quoting Erebus
Finally solved the greatest mystery in Forex trading, "What is the Trend?" By using 2 of greatest technical analysts that ever-identified trends in the financial markets - Fractals, created by the famous market trading theorist Bill Williams (trader) - Wikipedia, giving the Zig-Zag levels, combined with that movement on 3-timeframes as per Alexander Elder's Triple Screen, then you have established the TREND. That would be a market condition, not necessarily a trading entry signal,...
Hi Erebus,
can you please explain more how exactly the entries/ exits appear?
  • #9
  • Nov 7, 2023 1:18pm Nov 7, 2023 1:18pm
Quoting oo7rai
{quote} Hi Erebus, can you please explain more how exactly the entries/ exits appear?
You are in England, so let's assume you know English; what was it I said in that post? By entries, I take it you mean you mean signals.

Quote "That would be a market condition, not necessarily a trading entry signal, however. You mention that Fractals and Zig-Zag levels are lagging but to me at least, they are fixed horizontal point unlike Moving Average which are constantly changing and much more subjective."

I was describing a method to identify the TREND, which as stated, is a CONDITION of the market or PRICE if you will, and that is totally subjective to each individual trader's concept while looking at his or her chart.

So, to get an exact SIGNAL as per your request, check out the 4-Bar Fractal indicator, it is awesome for trend continuation plus it gives multiple signals.

https://www.forexfactory.com/thread/...1#post14130211

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-08-26_14-11-06.jpg Size: 130 KB
It takes a lot for me to IGNORE you, but you can try.
  • #10
  • Nov 7, 2023 5:47pm Nov 7, 2023 5:47pm
Quoting oo7rai
Please help each other to find the best direction changing patterns. {image}
Quoting Erebus
As shown on the M15 chart, a suggestion for retracement type entry; your thoughts? Anybody?
my favorite qm. let's see.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #11
  • Nov 8, 2023 5:40am Nov 8, 2023 5:40am
Quoting Inthebox
{quote} {quote} my favorite qm. let's see. {image}
2nd sell qml, trend line, engulf confluence.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 5 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #12
  • Dec 29, 2024 11:49am Dec 29, 2024 11:49am
sometimes people confuse with quasimodo and head and shoulder pattern
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 29 KB
  • #13
  • Last Post: Oct 27, 2025 6:28pm Oct 27, 2025 6:28pm
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB
0 traders viewing now