Simple Candlestick-Pivot Method | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Candlestick and Pivot Point Day Trading Strategy 3 replies

Simple candlestick strategy - need an EA 2 replies

candlestick pivot 4 replies

Simple Candlestick-Pivot Method For GBP/JPY 12 replies

Attachments: Simple Candlestick-Pivot Method
Exit Attachments

Simple Candlestick-Pivot Method

  • #21
  • Jan 17, 2008 8:31am Jan 17, 2008 8:31am
Quoting pendennis
Hi nomask ,trust me they work.the spike high to day at 212.40 is a bounce of the weekly M3 as I said in my last post , thats why im aiming for it .Ive locked in 100 pips so far. the EURJPY is trying to break monthly S2 now and GBPUSD is making new high for the day so it may pop up in a bit.
yeah seems it"ll hit your predicted level..always nice to see winning trades
  • #22
  • Jan 17, 2008 8:55am Jan 17, 2008 8:55am
thanks for sharing ur gj method....for me this is great method because not using lagging indicator. if u don mind could u show in chart where u enter the trade...? can we use pending order...as I'm working dont have time to monitor the trade all the time....?

thanks
  • #23
  • Jan 17, 2008 9:22am Jan 17, 2008 9:22am
Quoting iwanqf
thanks for sharing ur gj method....for me this is great method because not using lagging indicator. if u don mind could u show in chart where u enter the trade...? can we use pending order...as I'm working dont have time to monitor the trade all the time....?

thanks
sure i can...btw i"m working too..sometimes i use breakout method (eagle's breakout method..i only use pending orders for it) but when there is a nice reversal setup forming around the support and res points i just start watching the new candles...not taking too much time..
cannot make a pending order since the method based on candlestick formation..
p.s:of course there is no holy grail setup in forex and this method not a big invention but there is fact...
in 17 days -since the january 1st total net pips 1050+ now..
good luck..
Attached Image (click to enlarge)
Click to Enlarge Name: 13.JPG Size: 125 KB
  • #24
  • Jan 17, 2008 9:28am Jan 17, 2008 9:28am
Hi Nomask,

Thank you for sharing this system.
Can you tell us if you are trading live with this method or just on a demo account?

Thank you.
  • #25
  • Jan 17, 2008 9:43am Jan 17, 2008 9:43am
Quoting nomask
sure i can...btw i"m working too..sometimes i use breakout method (eagle's breakout method..i only use pending orders for it) but when there is a nice reversal setup forming around the support and res points i just start watching the new candles...not taking too much time..
cannot make a pending order since the method based on candlestick formation..
p.s:of course there is no holy grail setup in forex and this method not a big invention but there is fact...
in 17 days -since the january 1st total net pips 1050+ now..
good luck..
Thank u very much for ur chart and explanation
  • #26
  • Jan 17, 2008 4:01pm Jan 17, 2008 4:01pm
Hi PenDennis
Thanks for sharing ur trading method,i am just womdering how can i get the weekly/monthly pivots on Metatrader charts?
thanks
Baz
  • #27
  • Jan 17, 2008 4:37pm Jan 17, 2008 4:37pm
Quoting pendennis
Hi nomask ,trust me they work.the spike high to day at 212.40 is a bounce of the weekly M3 as I said in my last post , thats why im aiming for it .Ive locked in 100 pips so far. the EURJPY is trying to break monthly S2 now and GBPUSD is making new high for the day so it may pop up in a bit.
Hi,

Could you share the weekly and monthly pivot indicators?

Thanks
TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #28
  • Jan 17, 2008 4:48pm Jan 17, 2008 4:48pm
Neat idea Nomask, well done.
  • #29
  • Jan 17, 2008 7:22pm Jan 17, 2008 7:22pm
this morning i saw CS seem like cannot penetrate pivot level....maybe spinning top will going to form.....but i've no time to watch it....so its better we also attached in the chart the time/clock, when CS is fully formed...is anyone have that clock attached to Meta4. i saw somewhere but couldnt remember? thanks
  • #30
  • Jan 17, 2008 7:39pm Jan 17, 2008 7:39pm
Hello there guys,
This is a very simple system that helps with over trading and profitability.

I have a few suggestions for the group:

1. Try and track all pairs with this setup:
* Does anyone have a list of pairs that are good for this setup?

2. Post trades and charts as they are happening

3. Create an irc channel for more talking

I can't wait to start trying this tonight

Cheers

FX
Know your edge and trade within it
  • #31
  • Jan 17, 2008 7:53pm Jan 17, 2008 7:53pm
Hello guys,

I'm new here and i think this is a nice thread, i like it .

regards,

G33maroon
I am bored..
  • #32
  • Jan 17, 2008 8:25pm Jan 17, 2008 8:25pm
This is a great system. No indicators, simple price action.
Watch the 50's and 100's, especially on the gbp/jpy. It bounces off them to the pip most of the time. Attached indicator draws 50 and 100.
Keep up the good work.
Attached File(s)
File Type: mq4 SDX-SweetSpots1.mq4   3 KB | 1,105 downloads
  • #33
  • Jan 17, 2008 9:03pm Jan 17, 2008 9:03pm
Hi again,

more or less 200 pips range. waiting for this hour bar to close before entering a trade .

robhtz,

I think you dont need an indicator to clutter your chart to show you the round number or psychological 50 number. please dont take it hard, just sharing my mind.

regards.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_1 hour.JPG Size: 32 KB
I am bored..
  • #34
  • Jan 17, 2008 9:15pm Jan 17, 2008 9:15pm
hey nice system
very simple
id like to contribute

heres pivot indy i picked up from auslanco's site
you can set the start time and day, week, month

1=day 2=week 3=month
Attached File(s)
File Type: mq4 Pivot Points.mq4   10 KB | 999 downloads
  • #35
  • Jan 17, 2008 9:18pm Jan 17, 2008 9:18pm
heres also some indies that place fibos automatically

i edited a daily fib indy from bobokus thread
the weekly n monthly work better than pivot points to me
Attached File(s)
File Type: mq4 fibo monthly.mq4   5 KB | 1,021 downloads
File Type: mq4 fibo weekly.mq4   5 KB | 1,033 downloads
File Type: mq4 fibo daily.mq4   5 KB | 1,025 downloads
  • #36
  • Edited 9:46pm Jan 17, 2008 9:35pm | Edited 9:46pm
hello and thanks for sharing your method. I am fairly new to trading in general and wanted to ask a couple of questions. Thanks in advance for your answers.

1. On the indicator you can add a "start hour". Should you adjust your start hour to coinside with the NY session?

2. Does the pivots on this indicator calculate the same way as the standard daily pivots...i.e. H+L+C/3

Thanks for the clarification.

Todd
  • #37
  • Jan 17, 2008 9:40pm Jan 17, 2008 9:40pm
Nomask, nice post!

Can you tell me what time (your chart time) the daily pivot plot changes?

It looks like 0:00 (midnight) your local chart time, which should be 2:00 am GMT and 7:00 pm ET (Eastern time, NY time).

I think those times also line up with the closing time for the popular High & Lo 8 Hours method post.

I've attended a number of classes by John Person, who teaches (and preaches) pivot points as a simple but powerful trading method. While I use the dialy pivots almost exclusively, John does pay a lot of attention to the weekly and monthly pivots.

Keep up the good work.

CarlC
  • #38
  • Jan 17, 2008 11:08pm Jan 17, 2008 11:08pm
i think candlestick studies are amazing....

does anybody else think that entries should be made above/below the pinbars high/low....to make sure that it is in fact a valid candlestick pattern? i think this could save a lot of lost pips from false moves, while only sacrificing the pips from the open of the new candle to the high of the previous candle.

and you could always keep the +50 and +100 marks calculated from the open anyway (although you obviously wouldn't be making 50 or 100 pips each time, depending on the entry)

...just a thought
The odds are on my side; let's hope they stay that way!!!
  • #39
  • Jan 18, 2008 1:15am Jan 18, 2008 1:15am
thx for everyone who's contributing on this thread...
couple answers..
my pivot indicator plots between 00:00 (start) and 00:00 (end) (times are gmt+2 also same with fxdd metatrader time)

how i am doing this method is that during the weekdays i get work at 8:30 am so i just check the 1 hr chart (only gj) for eagles breakout setup with 50 pips breakeven..
if i get breakeven (zero profit) by the breakout method then i bring this method in use if there is a nice pivot points-candlestick setup forming..most likely it does...
favourite time for this method is between 09:00-18:00 (gmt+2)..
  • #40
  • Jan 18, 2008 1:18am Jan 18, 2008 1:18am
and i'll try to keep posting trades in real time if there is a candlestick-pivot points setup coming up..
0 traders viewing now