1 min Scalping with Randy Candles Resurrected

Thanks I just found it over on the thread you started
I'll play with it

Have a nice Christmas Break!!

When one gets an alert candle, you said that the next color candle determines the direction usually, would you wait for this candle to close to confirm the color [the direction]?

The alert candle:

1. The appearance of an Alert Candle is your FILTER.
2. correct alert candles simply have stems ABOVE AND BELOW; they are small to moderate in size.
3. they can be any color combination, however chili peppers and zorros are ideal.
4. the BEST alert candles will CROSS and close OVER the Pink SMA.
4. the alert candle is NOT the entry candle!!! DO NOT ENTER on an alert candle.
5. If you enter on an alert candle, you have failed.

THE ENTRY CANDLE: You must WATCH the entry candle develop to make your decision.
1. The Entry Candle must obviously have the right HA color for your direction.
2. It must have the correct stem color for your direction...wait till you get it!
3. The "preferred" entry candle should only have the stem going your way.(not an absolute rule however).
3. The BEST entry candles are birthed having ALREADY crossed the SMA Pink.
4. If the above scenario has happened and you are let's say at the top of a fan....
you ALREADY have a 90% probability of putting in a correct entry of both timing and
direction....have some confidence!!!!
5. The SMA's are treated as dynamic points of support and resistance.
Dynamic means they move, as opposed to static like Camarilla, MurreyMath and Fibos.
Support and Resistance means your trades can respect and bounce from them
and at other times must "chew" through them.
This Price vs. SMA interaction occurs on both the 5M as well as the 15M charts.
Pink is the weakest, Yellow the strongest.Learn by watching Price vs. the SMA's, both charts.

Found some new things with the randy candles
added a sma 1,0 white dotted line plus the DiNapoli Detrend Oscillator then I took away the HA look at when the white crosses the pink and the blue DiNapoli Detrend Oscillator is above or below 0 how it almost mimics the alert candles signal exactly
Going to try this approach next week
found some more goldenequity aka Randy
He talks about waterfalls and fans ect it starts here
http://www.forex-tsd.com/suggestions...tml#post139650

he also talks about pairing the E/J #/US US/J TO TRADE THE #/J
to see how it effects the #/J . . . . . interesting
I also attached the profile he was using

Will put this on a chart for next week....I'm not trading RC directly...but I do have it on an M1 chart for reference. That waterfall reference is an interesting pattern to watch for.

Cheers
CanuckCT

Great stuff DryClean esp the waterfalls. Have not tried live trading with the DiNapoli Detrend Oscillator will do more demo trading and see how it goes.

I'm not trading these candles directly but I like the visual they provide on price action for M1. Here is a trade I took based on another system...RC gave me confidence that it was going to work.
Cheers
CanuckCT

Trying to get the randy candles coing again

not bad for first day in awhile

here is a link to the template and files

http://www.forex-tsd.com/suggestions...mation-81.html

Thanks for reviving the thread. I'm studying it and will consider demo trading it hoping you can revise this thread. Still trading FrankenPips thread method for now but need help identifying best trades.

Has anyone traded Arnie's Hole in One? I like the MTF stoch setup that Spudfrye taught.

Steve

deleted by poster

Hi there GoldenEquity,
Glad to see you made an appearance, although I missed it. I seem to fall back to the RC and moving average setup over top of whatever I'm looking at. It's simple and just about pure price action......it just works for me in helping to assess price action. Here's a chart from a trade earlier today.

I have about 4 variations on this setup...but I'm partial to this one.

Cheers
CanuckCT

Hey Canuck,

Been awhile.. This thread deserves a second chance. It certainly has more potential than some that are constantly in the top 10.

I decided to pull up my Randy Candle template today and place a few trades. Haven't traded the RC's in awhile..

Heres a few to post...

revrobwimb

Closed my GJ short from Friday.....and I;'m back in it on the retrace.....may take profits soon...or at least protect some of them...as it is Sunday night.
Cheers
CanuckCT



EDIT - closed +31

Yes revrobwimb,
It does deserve a second chance....it does work quite well and is easy to understand. I do watch higher timeframes...H4 and H1 in assessing a turn like the GJ trade above. ...and I am using it on M5.
Cheers
CanuckCT

Sold USDCAD and just about to take profit....1.08 a key level...and was expecting a little drop....all the correlated pairs I watch were rising....all were winning buy trades...this was the one I picked.

Just closed for +20

2/2 tonight, +51.

Cheers
CanuckCT



Here is what I watch when I'm looking to trade the M5....each pair as another profile...so once i pick one, I jump to that profile...check the price action on the higher timeframes....key levels, maybe a fib or pivot.



Was a fairly stress free 51 pips....too bad they aren't always like this.

Cheers
CanuckCT

+6

So true.. proper oscilation is key to these signals.. I like how you are also using an entry after the breakout candle following consolidation.

Nice work.

revrobwimb

If you watch these six pair simultaneously....and when everything is moving in harmony...it's a beautiful thing....just pick the pair you like...one near a key level, fib, round number...lot's of different reasons...just be sure you peak at the higher timeframes to see what is happening.

EJ was the perfect sell...retreating from 134.50...a key level.....to the pip.

Cheers
CanuckCT

Here's the pivot indicator I'm using...weekly and monthly only.
Cheers
CanuckCT