Simple Candlestick-Pivot Method

It's a simple and great system. I think there was another oppurtinity at 12(GMT). I attached the screenshot. Am I right?

Hi nomask...great job....seems like you're on to something...keep it up....i am having trouble still though trying to figure it out....if you would please contact me here or [email protected] help me understand this method so i can utilize it .....thank you

i use eagle's breakout system (in this forum) but with some differences..i dont usually take trades on the very first candle after the breakout boxes(most of the times it gives wrong signal)...
and use 50 pips sl
and breakeven with 50 pips
final target 200 pips with protecting profit when it reaches 100...

on my chart the first candle is 09:00 candle..but when that candle breaks i dont get hurry in entering the trade..i look over its formation when it completes and decide what to do next...in this case it was a good reversal signal so instead of taking breakout trade i entered through this method...
(best indicator is your own eyes)

one more perfect example using this method combined breakout system..
look at the chart..
i entered trade when it broke the line and moved my sl to breakeven immediately when it hit 50pips..
and it came back and gave me a breakeven..but it was just a nice time to bring the candlestick method reversing the trade...
its formed on daily pivot points and the candle which caused a breakeven was a good reversal signal..
so i had one breakeven and +100 pips at that time...

this looks great. thanks for posting it!

is there an EA that can alert you when it hits a pivot point?

Regarding post #64: I also use a breakout box in my trading at Euro Open. I constantly study the price action around the beginning of the session and have always taken a break of the box, but if it retraced a bunch before the hour's close, I would set to breakeven. My studies were showing me that if in the next hour (8 GMT) the candle broke back into the box, that was the direction to reenter.
I stumbled upon it without realizing it was probably a basic price action reversal signal. Now I have to go back and see if this was the case all those times.
Good stuff!

Great system, so just to clarify...you take trades on Daily Pivots only right? You said yu dont like to take the trades off of the interior fibs? So any PA reversal off of a Daily Pivot, R1,R2,R3,S1,S2,S3 you will take right? Thank you.

PS Great Excell sheet...are those actual results on your account? Great job...Joe

if this candle closes green for GJ, would that constitute a long signal? it hit the S1 and bounced on my chart.

hello all,
can someone post the pivot levels currently for EURO/USD?

Hello ,

Attached is my chart-backtested. the approval signs are what i regards to as profitable trades that would have been taken based on the rule and the crossed sign would have been a trade lost taken trading opportunity based on the rule.

I'd like you to confirm to me if these taken trades are okay and if they are not, i will appreaciate your comments and corrections.

Thanks

I think taking trade based on the above rules will filter bad trades and earn us more safe pips.

Attached is the chart that shows valid entries............

I will also post charts of trades taken based on this valid entries.

Thankyou nomask for your great system....however the indicators that are posted do not comply to the first picture in your post....the pivot points arent giving the same levels.....can u please help =)........I also have a few ideas that could help complement this system and I would like to discuss them with you before I post anything on your thread

add me [email protected] man

candle stick reversal patterns and pivot points are number 1 in my book also. I use London midnight to midnight. Im not so sure about your set stop and profit levels as it seems a little arbitrary. A reversal will usually target the opposing pivot level which can sometimes be much greater than 100 pips and at other times it may be less. Anyway, it appears to be working well for you so I cant really argue too much. On there own, pivot points and candle sticks only provide a slight edge but when they appear together its a high probability trade. This is price action trading at its best.

Excellent work nomask

ps - obviously, it is prudent to be aware of pending market moving news releases and avoid trading before these

Hello there,
Can someone post the pivot levels for today?

FX

I would strongly suggest that you get MT4 and set up a pivot indicator, yourself. Otherwise, there are websites that give the pivots everday. i am not trying to be a hardass. its just that everyone has their own problems to deal with, and while people are always willing to help, they are more willing to help those that help themselves.

Hello there,
I just don't have access to the pivot information at the moment because I don't have access to my MT4....

I do help myself believe me... I trade a system that involves Pivots and some other indicators and just thought it would be fun to trade with other people using these methods.

I guess this won't be the thread for me!

Cheers

FX

well, please do not allow me to discourage you from participating in the thread. this is not my thread, and my opinion may not be shared by the rest of the particpants. still, i am surprised you can't find the pivots. i got them with a google search on pivot forex.

http://www.actionforex.com/technical...-200603215764/

Hello there,
What are the start times for your pivots?

Thanks

Hi, would someone mind telling me where i can learn which news releases might have an adverse affect on this system (GBP/JPY only)? Thanks!