Candle Patterns Magnet Zones and More | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

New 8 candle patterns found, unbelievable accuracy! 212 replies

Need EA based on candle patterns 7 replies

'EA' for Backtesting Candle Patterns 5 replies

seriously do candle patterns works... 7 replies

Candle Patterns 10 replies

Attachments: Candle Patterns Magnet Zones and More
Exit Attachments

Candle Patterns Magnet Zones and More

  • #61
  • Apr 3, 2025 8:15am Apr 3, 2025 8:15am
GBPCAD is showing two closed red with current green.
  • #62
  • Apr 3, 2025 9:02am Apr 3, 2025 9:02am
Closed the second basket. To work on the third basket, waiting for two greens and a current red or two reds and a current green on H1.
  • #63
  • Apr 3, 2025 9:11am Apr 3, 2025 9:11am
To check the third candle color, I would wait at least 15 minutes into the current candle, but 30 minutes would be better since 30 minutes will provide more time for the third H1 candle to form.
  • #64
  • Apr 3, 2025 9:18am Apr 3, 2025 9:18am
It's about 30 minutes in, so it’s okay to check for the third candle color. GBPSGD has two reds and one green. The same with GBPNZD, GPBJPY, USDJPY.
  • #65
  • Apr 3, 2025 9:38am Apr 3, 2025 9:38am
Added EURCHF to the list. I'll mention the pairs in the thread but you can also check the TradeExplorer list for the pairs with the two consecutive colors followed by a current opposite color.
  • #66
  • Apr 3, 2025 9:48am Apr 3, 2025 9:48am
GBPCAD is showing two closed reds followed by current green.
  • #67
  • Apr 3, 2025 9:57am Apr 3, 2025 9:57am
TradeExplorer isn't updating regularly so I'll mention the pairs in the thread but basically, I look for two closed greens followed by open red, or two closed reds followed by open green. On the third candle, I just check if it’s a proper pullback, anytime 15 minutes in and onwards. That’s pretty much it.
  • #68
  • Apr 3, 2025 10:06am Apr 3, 2025 10:06am
Since the trading is done on the current open candle, one sensible rule would be to close all open trades when the current candle closes, or just before, even if it didn't reach 500. This is because the current candle is being traded so the focus of the new open trades can just be on the current candle.
  • #69
  • Apr 3, 2025 10:21am Apr 3, 2025 10:21am
AUDCHF, CHFSGD, EURGBP, USDCHF, USDSGD are starting to pull back.
  • #70
  • Apr 3, 2025 11:14am Apr 3, 2025 11:14am
It feels like a strategy that would work well during London session, even when looking at the third H1 candle just 15 minutes in, but after London session is over, one should definitely wait closer to the 45 minutes in, before determining whether the third candle was a proper pullback. Not bad for a first day of testing but, it's something to look for as it gets closer to the start of London and not really trading after the end of London session, unless one will wait for at least 45 minutes in, to consider the third H1 candle as being "closed."
  • #71
  • Apr 3, 2025 6:01pm Apr 3, 2025 6:01pm
Quoting Th3W1z4rd
Understanding the psychology behind candles is important because it helps you see patterns forming in real time. For example, NZDCHF has been in a downtrend. Sellers have been in control, pushing prices lower. Then, a green candle shows up with a strong close near its high, meaning buyers stepped in with real pressure. The small wicks show there wasn’t much rejection from either side. Since the lower wick is longer than the top one, it means sellers tried to push lower, but buyers fought back and took control, showing bullish momentum. So what's...
An update on the candle pattern here, it worked out at expected with the small bodied candle followed by continuation. It is a weekly candle so it takes a long time to play out if one has the patience for it.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 8.jpg Size: 312 KB
  • #72
  • Apr 3, 2025 6:07pm Apr 3, 2025 6:07pm
Quoting Th3W1z4rd
{quote} An update on the candle pattern here, it worked out at expected with the small bodied candle followed by continuation. It is a weekly candle so it takes a long time to play out if one has the patience for it. {image}
Just a note on this trade, once the continuation takes out the local low (the low of the big green candle), the real trade becomes to the upside. At this point, the price could push a bit further down, usually to less than 261.8%, but could be as much as 361.8% or maximum 461.8%, but at this point, since the low has been taken out, the next trade will now be to the upside.
  • #73
  • Apr 5, 2025 12:26am Apr 5, 2025 12:26am
Just noticed a coil pattern which is likely to result in a breakout on next candle. Want to know which direction it’s likely to breakout? Is anybody here reading any of these posts? lol
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 3.jpg Size: 267 KB
  • #74
  • Apr 5, 2025 10:02am Apr 5, 2025 10:02am
Breakout levels for BTCUSD.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 3.jpg Size: 416 KB
  • #75
  • Aug 10, 2025 9:05pm Aug 10, 2025 9:05pm
Just had a confluence idea and wanted to try it out. Pepperstone has a software called Autochartist. My thought is to find the same signal for the same currency pair across different timeframes. When they line up, go for the trade. Here's a Breakout signal on GBPCAD showing up on both M15 and H1. So far, so good.

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2025-08-11 at 9.55.26 AM.jpg Size: 101 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADH1.png Size: 9 KB
  • #76
  • Aug 14, 2025 9:33pm Aug 14, 2025 9:33pm
Some fun with EWs (experimental). It could take a day or two to play out but I think this should be the general shape.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 14 KB
  • #77
  • Aug 15, 2025 7:16pm Aug 15, 2025 7:16pm
Quoting Th3W1z4rd
Some fun with EWs (experimental). It could take a day or two to play out but I think this should be the general shape. {image}
So far so good.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDH1.png Size: 15 KB
  • #78
  • Dec 8, 2025 5:06am Dec 8, 2025 5:06am
I realized something new about Forex and started demo testing it about 2 hours ago and here’s the result already. It’s actually a manual system that is teachable, but… what’s the incentive. Anyway, just wanted to mention to keep studying, it’s really amazing what you can discover sometimes.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 69 KB
  • #79
  • Dec 8, 2025 5:17am Dec 8, 2025 5:17am
Quoting Th3W1z4rd
Just noticed a coil pattern which is likely to result in a breakout on next candle. Want to know which direction it’s likely to breakout? Is anybody here reading any of these posts? lol {image}
yes I am reading your post, can we be friends? I’ll have a lot to learn from you
  • #80
  • Dec 8, 2025 7:30am Dec 8, 2025 7:30am
Quoting Brotherly
{quote} yes I am reading your post, can we be friends? I’ll have a lot to learn from you
Sure why not. You can add my SimpleX Chat in my profile. One can never have enough friends in this business.
0 traders viewing now