What price action patterns work for you?

Let's forget about what everyone else is doing on FF. Do you have consistent price action pattern setups that are profitable? These can include TA filters for overbought/oversold. For once, let's have a thread where we don't speculate, but post actual good setups.

No opinions here, please.

I think the best format to post is: pair, scenario (time of day, day of week, type of report, etc.), pattern

Pinnochio Bars.... Double bar resistance.... etc.... Yes backtesting these have given nice results. I incorporated variations of these in an EA that I am forward testing. You can see the forward/backtests on my journal. All trades are taken on closed bars, of course.

What about trendline trading based on bounces? Tesla's Fancy Shmancy Trendline alert appears to be a nice tool... I see posts from people like SeekingLight that are constantly updating their charts with trendline analysis, etc. How do you do it? Are you profitable?

Thanks in advance,
Tom

Give some take some. All is fair, I will share one of my setups.

EURUSD, Sunday 00:00 GMT, market gaps 15 pips or more in either direction, take the opposite position of the gap with a 25 pip stopout, 200 pip take profit.

Result since 2001: 1,400 pips profit (after spreads)

Lunch time spikes in NY, usually in the last half hour. though sometimes earlier. Wait till a clear sell signal, and then fade for the afternoon with a SL just above the top of the spike. I haven't kept separate figures, but this seems most common in $JPY.

Stair steps up or down on $CAD - jump down followed by flat or slowly rising followed by another jump down. They can go on for days and occur at many time scales. Treat them as a trend and use the Metatrader STD channel (or something like it) to determine entry points and time to get out.

I'm not sure this is a price action, I often see price action based on 2-3 bars/candles but anyway

On EUR/USD when the market enters in a range(1h chart) I draw suport and resistence(1h chart too). Then switch back to m15 chart and look for a breakout, having as confirmation the 5/8 sma cross and default stoch. I noticed that when there is a bearish breakout, it ussualy ends at the 200 ema.
I also trade when the pair moves between suport and rezistence, but this depandd on the range size and the candlesticks that are formed and of course the confirmation that i said earlier

Ok, share one of my favorite here. Fits for 1h+ timeframes. Use a 5:1 or bigger reward/risk ratio. A must win result.

Enjoy.

Clear sell signal on GBPJPY

Interesting Samuri. So you are trading trend line breaks..... how far must the price move past the trendline before you enter.....

Also, you say you use 5:1 Risk:Reward. What are your stops generally?

Thanks.

samuri's method looks similar to mouteki's method, but very simple and efective

From the 3rd mountain/river start to the trendline break, you can use fibo retracement to decide a stop and to trail(choose your own prefered level). Not too small, not too big.
If it is not developing well, don't worry to get out. Depends on the frame and your sense.
But I am sure you will have a good result.

Cheers.

Patience is what you need.
Multi-pair/timeframe is a compensation;-)

I like fibos, so number 3 is of very much importance to a fibo fan like me.

Enjoy.

double tops and bottoms, 4HR or daily, the farther apart they are, the better, and the closer they are (don't have to be exact, but within a couple pips) the better as well. works on all pairs,

I'd really like to see this thread explode. I will share my most profitable setup in hopes that it will spark interest.


H1 timeframe, often calls the top or bottom of a new trend.... Risk/Reward is high....
For EURUSD, if the distance between the open and close for each of the last 10 candles is less than 10....

1) BUY if the RSI(96) > 50 and the current candle closes with the close - open > 20 and < 55

-or-

2) SELL if the RSI(96) < 50 and the current candle closes with the open - close > 20 and < 55

SL 40, TP 200

Just closed this setup for a 200 pip gain here:
http://www.forexfactory.com/showpost...5&postcount=23

People this is what I do... I am a pattern finding magnet. Surely you can contribute your best setups.

I see a lot of triple neck breaks on my chart that are false signals. How do you decide what to take? Thanks.