Hello traders,
I am Petar.J and i am trader 3 years.After many years of work I might find one of the better candle formation i seen before.
I called this candle formation Petar (my name) and i think this can help many traders,you can work alone this formation also you can work with your strategy and this can confirm your setup...
I found it quite by accident, after most of my good setups finished from this formation...I tested this just on Cable and AUDUSD but i think it will work on every pair,we are here to test...
Also as like all formation,larger frame is better i think but i must be honest i didnt work on smaller you can try..I tested on H1,H4,Daily..
I hope this can be new Candle Formation in Forex trading and i hope we will earn many pips with this formation !!!
Lets Start >
http://img831.imageshack.us/img831/6948/threadt.jpg
I created 5,6 pictures for you to understand better what i talk...
First,
For this Petar formation most important think is Leading candle i will explain you in pictures where is Leading candle but for now first think is to identefy Leading candle.
After that we can place trades.Dont forget we have 3 main rules about Leading candle >
1. Leading candle must be no larger than candle 1 and 2.That mean Leading candle Lows for sell setup mustn be lower from lows of candle 1 and candle 2 for buy setup oposite.Leading candle Highs musnt be higher than highs from candle 1 and candle 2
2. Leading candle must be larger than 50 % (range between candle 1 or candle 2) of candle 1 or candle 2 .For example Candle 1 have range (Pips between High and Low) 100 pips that mean lows from Leading candle must be minimum 51 pips of range i mentoned.Important thing is we need min 50 % from one no for both or from candle 1 or from candle 2...
For visual read this http://www.forexfactory.com/showpost...&postcount=170
3. Leading candle always have for Sell setup Higher High for Buy setup Lowest Low
These 3 rules are main for understanding Leading candle i will show you now examples what i wrote previouse...
Sell Example :
http://img408.imageshack.us/img408/7408/leadingsell.jpg
3 main rules for Leading candle :
1 :
http://img707.imageshack.us/img707/3463/nolarger.jpg
2 :
http://img717.imageshack.us/img717/5548/minimum50.jpg
3:
http://img807.imageshack.us/img807/9035/highlow.jpg
Ok thats it about Examples i will post on second post more but live examples:
Now about SL TP,RRR....
As i said this is new candle formation you can trade with your strategy or you can trade alone aslo you can take litle pips or you can wait more pips that is all about your personality and your apetit of risk...
All guys wich want to work this and practice please aks questions,post you trades,setups...I want to see on many pairs we will work all togehter and i hope we will see green pips...
If you want my skype or something to ask me directly just PM me...
Cheers and GREENPIPS
If you cant undestand this formation this is one of falawers wrote > (Pet)
The formation requires any three candles with the middle candle being the lowest in a buy setup and vice versa for sell setup.
The first candle in formation is Candle 1, the middle candle which is the second candle is the Leading Candle and the third candle is Candle 2.
It dont matter wether Leading candle is either a Pin bar or not, but in most candle cases the Leading candle will show some form of weakness, it could be hammer, doji etc and may not necessary qualify as a "Pin bar" but most remain the low/high of the formation and the range must cover minimum of 50% of either or both Candle 1 and Candle 2.
Here is indi wich detect my formation > Created by Dezil
I am Petar.J and i am trader 3 years.After many years of work I might find one of the better candle formation i seen before.
I called this candle formation Petar (my name) and i think this can help many traders,you can work alone this formation also you can work with your strategy and this can confirm your setup...
I found it quite by accident, after most of my good setups finished from this formation...I tested this just on Cable and AUDUSD but i think it will work on every pair,we are here to test...
Also as like all formation,larger frame is better i think but i must be honest i didnt work on smaller you can try..I tested on H1,H4,Daily..
I hope this can be new Candle Formation in Forex trading and i hope we will earn many pips with this formation !!!
Lets Start >
http://img831.imageshack.us/img831/6948/threadt.jpg
I created 5,6 pictures for you to understand better what i talk...
First,
For this Petar formation most important think is Leading candle i will explain you in pictures where is Leading candle but for now first think is to identefy Leading candle.
After that we can place trades.Dont forget we have 3 main rules about Leading candle >
1. Leading candle must be no larger than candle 1 and 2.That mean Leading candle Lows for sell setup mustn be lower from lows of candle 1 and candle 2 for buy setup oposite.Leading candle Highs musnt be higher than highs from candle 1 and candle 2
2. Leading candle must be larger than 50 % (range between candle 1 or candle 2) of candle 1 or candle 2 .For example Candle 1 have range (Pips between High and Low) 100 pips that mean lows from Leading candle must be minimum 51 pips of range i mentoned.Important thing is we need min 50 % from one no for both or from candle 1 or from candle 2...
For visual read this http://www.forexfactory.com/showpost...&postcount=170
3. Leading candle always have for Sell setup Higher High for Buy setup Lowest Low
These 3 rules are main for understanding Leading candle i will show you now examples what i wrote previouse...
Sell Example :
http://img408.imageshack.us/img408/7408/leadingsell.jpg
3 main rules for Leading candle :
1 :
http://img707.imageshack.us/img707/3463/nolarger.jpg
2 :
http://img717.imageshack.us/img717/5548/minimum50.jpg
3:
http://img807.imageshack.us/img807/9035/highlow.jpg
Ok thats it about Examples i will post on second post more but live examples:
Now about SL TP,RRR....
As i said this is new candle formation you can trade with your strategy or you can trade alone aslo you can take litle pips or you can wait more pips that is all about your personality and your apetit of risk...
All guys wich want to work this and practice please aks questions,post you trades,setups...I want to see on many pairs we will work all togehter and i hope we will see green pips...
If you want my skype or something to ask me directly just PM me...
Cheers and GREENPIPS
If you cant undestand this formation this is one of falawers wrote > (Pet)
The formation requires any three candles with the middle candle being the lowest in a buy setup and vice versa for sell setup.
The first candle in formation is Candle 1, the middle candle which is the second candle is the Leading Candle and the third candle is Candle 2.
It dont matter wether Leading candle is either a Pin bar or not, but in most candle cases the Leading candle will show some form of weakness, it could be hammer, doji etc and may not necessary qualify as a "Pin bar" but most remain the low/high of the formation and the range must cover minimum of 50% of either or both Candle 1 and Candle 2.
Here is indi wich detect my formation > Created by Dezil
Attached File(s)
"Buy on fear, sell on greed !!!
