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Master candle

  • #21
  • Jan 7, 2009 5:41am Jan 7, 2009 5:41am
Dear All,

here my updated gu 4hr master candle
now i lock my profit +100 pips on my sl, one has taken the profit +250 pips

brgds
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: gu4hr master candle.JPG Size: 62 KB
  • #22
  • Jan 7, 2009 5:51am Jan 7, 2009 5:51am
Quoting nvwine
Next one I'm watching. Not a pair I normally trade but since I am testing I'll try it.
Attachment
I updated the chart to show another 4hr candle. Third update - I should just drop this one. I have updated the chart again.

I now have a second 4hr chart to watch.
A short order on the break of the box would have already lost with my stop loss. I am now waiting for a closed bar outside of the box.
Attachment

my30marahaba, Are you watching this one?

Update - Depending on the size of the stop loss an entry on the break of...

hi nvwine,

sorry for my late reply when i see your chart i founded your master candle can not break on 24hr candle as per the rule this mc should be scrap and try to find another mc as the guide....

brgds,
my30marahaba
  • #23
  • Jan 7, 2009 9:10am Jan 7, 2009 9:10am
another one cad look mc to be break
Attached Image (click to enlarge)
Click to Enlarge Name: cad mc.JPG Size: 59 KB
  • #24
  • Jan 7, 2009 9:23am Jan 7, 2009 9:23am
Quoting my30marahaba
another one cad look mc to be break

look at the very nice break out of master candle
Attached Image (click to enlarge)
Click to Enlarge Name: cad mc1.JPG Size: 144 KB
  • #25
  • Jan 7, 2009 9:48am Jan 7, 2009 9:48am
Quoting my30marahaba
hi nvwine,

sorry for my late reply when i see your chart i founded your master candle can not break on 24hr candle as per the rule this mc should be scrap and try to find another mc as the guide....

brgds,
my30marahaba
Which pair are you talking about? USDCAD?
  • #26
  • Jan 7, 2009 9:57am Jan 7, 2009 9:57am
Quoting nvwine
Which pair are you talking about? USDCAD?
AUDNZD ...
  • #27
  • Jan 7, 2009 5:14pm Jan 7, 2009 5:14pm
Quoting my30marahaba
AUDNZD ...
hi nvwine,
here the chart that i mean audnzd
according the rule of this master candle
"the longer master candle hold out the stronger it become. However,if it hold for too long i might consider it invalid, i give it about 24 hours to break. if it cannot break in 24hrs i scrap the master candle"

brgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: aud nzd.JPG Size: 79 KB
  • #28
  • Jan 7, 2009 5:27pm Jan 7, 2009 5:27pm
Quoting my30marahaba
look at the very nice break out of master candle
updated of CAD pair Valid break out Master Candle
Attached Image (click to enlarge)
Click to Enlarge Name: cad mc2.JPG Size: 38 KB
  • #29
  • Jan 7, 2009 8:26pm Jan 7, 2009 8:26pm
hi all,

Enclosure the pdf file of Nickbmethod and The NickbMasterCandle Method Trading.


Brgds,
my30marahaba
Attached File(s)
File Type: pdf The NickB Method Master Candles.pdf   376 KB | 7,387 downloads
File Type: pdf nickbmethod.pdf   476 KB | 4,666 downloads
  • #30
  • Jan 7, 2009 8:42pm Jan 7, 2009 8:42pm
[quote=nvwine;2449566]I started looking at these master candles over the weekend. I'm still trying to determine if it is better to enter immediately when the box is broken or to wait until some candle closes. By some candle I mean a candle on the same time frame as the master candle or a lower time frame.

I would definitely wait for it to close long wicks are very common
  • #31
  • Jan 7, 2009 10:42pm Jan 7, 2009 10:42pm
Attached Image (click to enlarge)
Click to Enlarge Name: ultimate bar.jpg Size: 172 KB
  • #32
  • Jan 7, 2009 10:59pm Jan 7, 2009 10:59pm
usdchf 1 hr master candle
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf mc.JPG Size: 98 KB
  • #33
  • Jan 7, 2009 11:43pm Jan 7, 2009 11:43pm
Quoting kburd
Attachment

hi kburd,

let see your chart as per the rule of Master candle
the good entry from the green line and put the sl on the red line area this the good set up for the daily master candle let see the chart attached

the daily MC break

Brgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: ultimate bar.jpg Size: 178 KB
  • #34
  • Jan 8, 2009 12:16am Jan 8, 2009 12:16am
Quoting my30marahaba
hi kburd,

let see your chart as per the rule of Master candle
the good entry from the green line and put the sl on the red line area this the good set up for the daily master candle let see the chart attached

the daily MC break

Brgds,
my30marahaba
I will post tonight when I am back home.

From back test, we can spot how many master candless occurance.

I tested EURUSD M15,
from 1 Dec to 6 Dec08 there was 19 master candles.
Results not good for M15. Will try for hinger time frame
  • #35
  • Jan 8, 2009 12:40am Jan 8, 2009 12:40am
Quoting my30marahaba
usdchf 1 hr master candle

Here The USDCHF MC break out 1st tp at red line (4hr Master Candle) and now free trade target with sl +5

Brgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: mc chf.JPG Size: 103 KB
  • #36
  • Jan 8, 2009 12:44am Jan 8, 2009 12:44am
Quoting akukaya
I will post tonight when I am back home.

From back test, we can spot how many master candless occurance.

I tested EURUSD M15,
from 1 Dec to 6 Dec08 there was 19 master candles.
Results not good for M15. Will try for hinger time frame
Dear akukaya,

kindly please download the pdf file of the nickb master candle and nickbmethod they will be good if we use them together

Master candle should be better for 1hr tf above and nickbmethod 4hr above

brgds,
my30marahaba
  • #37
  • Jan 8, 2009 12:54am Jan 8, 2009 12:54am
Gbp/Jpy Hourly working out nicely.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #38
  • Jan 8, 2009 1:14am Jan 8, 2009 1:14am
Quoting my30marahaba
hi kburd,

let see your chart as per the rule of Master candle
the good entry from the green line and put the sl on the red line area this the good set up for the daily master candle let see the chart attached

the daily MC break

Brgds,
my30marahaba

my30marahaba, sorry im not sure i understand what you are saying. my example is a trade that would a went wrong only to emphasize that going with the trend is more effective

Attached Image (click to enlarge)
Click to Enlarge Name: ultimate bar.jpg Size: 159 KB
  • #39
  • Jan 8, 2009 3:02am Jan 8, 2009 3:02am
Quoting kburd
my30marahaba, sorry im not sure i understand what you are saying. my example is a trade that would a went wrong only to emphasize that going with the trend is more effective

Attachment
yes you're right for 1st Master candle break as the sell signal and the break candle become 2nd Master candle and break as the buy signal

rgds,
my30marahaba
  • #40
  • Jan 8, 2009 3:27am Jan 8, 2009 3:27am
Quoting my30marahaba
Dear akukaya,

kindly please download the pdf file of the nickb master candle and nickbmethod they will be good if we use them together

Master candle should be better for 1hr tf above and nickbmethod 4hr above

brgds,
my30marahaba
I make the quickk EA base on 1st post.

I will read the pdf tonight.
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