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Simple Candlestick-Pivot Method

  • #101
  • Jan 21, 2008 5:09am Jan 21, 2008 5:09am
Could u briefly tell us how u trade the break-out system?

thanks
  • #102
  • Jan 21, 2008 5:38am Jan 21, 2008 5:38am
Looks like it has bounced off a monthly support level,and also on the weekly,previou ressistance now possibley acting as support,it may take a breather here.
Lets observe
baz
  • #103
  • Jan 21, 2008 6:25am Jan 21, 2008 6:25am
Quoting nomask
stopped out 50 pips loss
well i've been waiting this actually after 12 consecutive wins
me too.
indeed the system seemed to work in the past.

It was bad luck for me since it is the first day of forward testing this system for me

Nevertheless I will continue watching it. Thanks for sharing it with us
  • #104
  • Jan 21, 2008 6:32am Jan 21, 2008 6:32am
Quoting bennyFX
It was bad luck for me since it is the first day of forward testing this system for me
me too
  • #105
  • Jan 21, 2008 6:47am Jan 21, 2008 6:47am
Me too, but i know - pinbars at pivots and S/R works... ;]
So i am not worried ;]

Tom
  • #106
  • Jan 21, 2008 7:06am Jan 21, 2008 7:06am
Isn't it a good setup for long?

P.S.:today US market is close
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 15 KB
  • #107
  • Jan 21, 2008 7:12am Jan 21, 2008 7:12am
i feel like time for revenge...(i know revenge is the worst thing in forex)
entered in reversal setup....
206.69 buy
Attached Image (click to enlarge)
Click to Enlarge Name: 12.JPG Size: 118 KB
  • #108
  • Jan 21, 2008 7:45am Jan 21, 2008 7:45am
Quoting nomask
i'm little nervous about the last trade entered because i entered a position against my long term expectation
heiken ashi another story..i'll try to write one day what i think about it
Sorry to stray from the subject but,

Seen a chart you posted with heiken ashi indicators on it (looked like a moving average and 4 time period indicator).

1) Where is the best place to find out more about heiken ashi

2) Where did you find those 2 indicators

Thanks!
  • #109
  • Jan 21, 2008 8:04am Jan 21, 2008 8:04am
Hi Nomask

I have been reading the thread with interest since the start and agree with you that price action is very important as regards trade set ups. However with your sreadsheet it appears that you are trading every day. I do not see how you wil be able to find set ups every day with just GBPJPY so could you indicate which of the trades are taken just with the protocol that you outlined at the start, and which other trades use other set ups e.g. Eagle breakout?

I also would be interested if you have back tested this further than the last 12 months. It seems that 2006 would not have been so good due to the narrower range. I am not saying that the system is not robust, but I am interested as to how you would deal with a narrower range.

Keep up the good work.

Mister ED
  • #110
  • Jan 21, 2008 8:05am Jan 21, 2008 8:05am
Quoting nealc99
Sorry to stray from the subject but,

Seen a chart you posted with heiken ashi indicators on it (looked like a moving average and 4 time period indicator).

1) Where is the best place to find out more about heiken ashi

2) Where did you find those 2 indicators

Thanks!
google heiken ashi
Attached File(s)
File Type: ex4 4 TF HAS Bar2.ex4   7 KB | 515 downloads
File Type: mq4 4 TF HAS Bar2.mq4   10 KB | 524 downloads
File Type: ex4 4 TF HAS Bar.ex4   10 KB | 504 downloads
File Type: mq4 4 TF HAS Bar.mq4   10 KB | 532 downloads
  • #111
  • Jan 21, 2008 8:09am Jan 21, 2008 8:09am
Quoting Mister ED
Hi Nomask

I have been reading the thread with interest since the start and agree with you that price action is very important as regards trade set ups. However with your sreadsheet it appears that you are trading every day. I do not see how you wil be able to find set ups every day with just GBPJPY so could you indicate which of the trades are taken just with the protocol that you outlined at the start, and which other trades use other set ups e.g. Eagle breakout?

I also would be interested if you have back tested this further than the last 12 months. It seems that 2006 would not have been so good due to the narrower range. I am not saying that the system is not robust, but I am interested as to how you would deal with a narrower range.

Keep up the good work.

Mister ED
the spreadsheet includes both breakout and candlestick methods with no certain method....just put it for your own backtest
  • #112
  • Edited 8:12am Jan 21, 2008 8:11am | Edited 8:12am
Quoting neshat
Isn't it a good setup for long?

P.S.:today US market is close
Hello neshat.

I have various pivot indicators, but I don't seem to have seen one like yours. Is there more than one indicator involved, or are you actually using just one that incorporates Daily, Weekly and Monthly Pivots, plus S/R's?

If it's the latter, then please could you post it? I'd be much obliged.

Cheers

By the way, why are the US markets closed today?
  • #113
  • Jan 21, 2008 8:25am Jan 21, 2008 8:25am
good. i am glad i got in on this one too and correctly identified the setup. if you guys are interested in trading this thing around the clock, maybe we can collaborate on a setup thread in the journal factory and anyone following the system can post the setup when it appears. then you subscribe it to your cell phone so you don't miss good setups if you are away from PC.. just an idea because none of us are able to monitor 24/7. also, with the results NoMask has gotten, this has some serious potential.

just to clarify, the reason we would post the setups someplace else is that it would act as an alert system. we can't use this thread because there is other discussion going on. please let me know if you guys are interested in this.


as to US markets, it is MLK day today
  • #114
  • Jan 21, 2008 8:32am Jan 21, 2008 8:32am
Quoting eyevoltage
Hello neshat.

I have various pivot indicators, but I don't seem to have seen one like yours. Is there more than one indicator involved, or are you actually using just one that incorporates Daily, Weekly and Monthly Pivots, plus S/R's?

If it's the latter, then please could you post it? I'd be much obliged.

Cheers

By the way, why are the US markets closed today?
Hello my friend

US is holiday because of Martin Luther King Day . you can see it in FF calender too.

you can find autopivotindicator in this topic too . My broker time is GMT+3.
Attached File(s)
File Type: mq4 AutoPivotIndicator.mq4   16 KB | 654 downloads
  • #115
  • Jan 21, 2008 8:35am Jan 21, 2008 8:35am
Quoting nomask
i feel like time for revenge...(i know revenge is the worst thing in forex)
entered in reversal setup....
206.69 buy
I think you have stoped out , haven't you?
  • #116
  • Jan 21, 2008 10:17am Jan 21, 2008 10:17am
Quoting neshat
Hello my friend

US is holiday because of Martin Luther King Day . you can see it in FF calender too.

you can find autopivotindicator in this topic too . My broker time is GMT+3.
The indicator is much appreciated, neshat. Many thanks also for the info regarding the US holiday. However, you're right, I should have thought of checking with the FF calendar!

Cheers
  • #117
  • Jan 21, 2008 1:07pm Jan 21, 2008 1:07pm
Quoting nomask
i feel like time for revenge...(i know revenge is the worst thing in forex)
entered in reversal setup....
206.69 buy
You can save your self some pips if you close the position if price closes 2 bars below the pivot price....

Cheers

FX
Know your edge and trade within it
  • #118
  • Jan 21, 2008 5:25pm Jan 21, 2008 5:25pm
Thank you for this thread and system. For some crazy reason, I like the gbp/jpy (almost 3 years trading) and have been looking for a system to trade it during the us and asian times; when I see it move but tend to miss the big trades. Question: Was this a sell sign today? The pair hit the S2 line at 16, 17, 18, and 20GMT times, then went short with a doji at the S1 line, then came the big candle short as it went south. Would the best case for the trade be after the 20GMT time frame as it got weaker (you have the S1 line so close to the S2 and is that a reason to be cautious and not take the trade?) or after the doji and the opening of the AUD market? thanks again for all your work and others on this thread.
  • #119
  • Jan 21, 2008 7:19pm Jan 21, 2008 7:19pm
I noticed there are two pivot indicators available on this thread. Which one are you using?

I've tested both of them on the same chart and they form the S/R levels at slightly different points; enough to make a difference. I adjust both for the US session time on MT4.

Thanks for your help.
  • #120
  • Jan 21, 2008 7:29pm Jan 21, 2008 7:29pm
Quoting Tdk
I noticed there are two pivot indicators available on this thread. Which one are you using?

I've tested both of them on the same chart and they form the S/R levels at slightly different points; enough to make a difference. I adjust both for the US session time on MT4.

Thanks for your help.
TDK,

I am using the Auto-Pivot Indicator. Can you share your settings for the US session on MT4.

Thanks,

Amlo77
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