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NEW Candles Formation Trading -Petar Formation

  • #41
  • Aug 17, 2010 6:06am Aug 17, 2010 6:06am
Quoting Dezil
Does leading candle have to be UP candle for buy setup and DOWN candle for sell setup?
All you need is Higher Pin for sell or Lower Pin for buy setup...Leading candle can be with both pins on high and lows also....
"Buy on fear, sell on greed !!!
  • #42
  • Aug 17, 2010 6:18am Aug 17, 2010 6:18am
Quoting whatfx
i still dont understand this method. can someone please explain it to me in simple terms ?
#
also, petar, how much success have you had with this ?
Hi whatfx,

THis is candles formation and as i said this can help you with your strategy you work or you can work this formation alone with your MM and your apetit of risk.

Formation isnt hard to learn i posted many charts i will post one more for better undestanding >

Look chart >
Attached Image (click to enlarge)
Click to Enlarge Name: calculate.gif Size: 17 KB
"Buy on fear, sell on greed !!!
  • #43
  • Aug 17, 2010 6:40am Aug 17, 2010 6:40am
Also another mis trade,i cant work alone guys post charts ,you can trade many pairs all timeframes...


This one i mis > EURJPY H4

I have sell from 110.00 that is according daily i will post later..




Cheers



Petar
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpymistrade.gif Size: 15 KB
"Buy on fear, sell on greed !!!
  • #44
  • Aug 17, 2010 6:49am Aug 17, 2010 6:49am
watching carefully.
  • #45
  • Aug 17, 2010 6:56am Aug 17, 2010 6:56am
Quoting steroidman
watching carefully.
Oh steriodman my friend,


Welcome to thread and enjoy hope we will together make pips




Very Important for New traders >

% of overall volume, May 2010
RankNameMarket Share
1 Deutsche Bank18.06%
2 UBS AG11.30%
3 Barclays Capital11.08%
4 Citi7.69%
5 Royal Bank of Scotland6.50%
6 JPMorgan6.35%
7 HSBC4.55%
8 Credit Suisse4.44%
9 Goldman Sachs4.28%
10 Morgan Stanley2.91%

What that mean >

Forex can be manimuplited and isnt thta much large market,still Deutshe Bank and UBS can make directions.That is why we need good MM ,that is the key of succes.


You can trade with 1000 indies or with no indis both can be profitable but for my opinion if you have clean chart you can see better price action and that is important...


Cheers


Petar
"Buy on fear, sell on greed !!!
  • #46
  • Aug 17, 2010 7:07am Aug 17, 2010 7:07am
This will be interesting,i will watch USDCAD Daily






WE will see,we need lower this current candle >






Cheers


Petar
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadposible.gif Size: 19 KB
"Buy on fear, sell on greed !!!
  • #47
  • Aug 17, 2010 7:50am Aug 17, 2010 7:50am
This is interesting down and than UP in six candles in a row usually when we see this this can go much higher



Look picture


Cable h1


Cheers


Petar
Attached Image (click to enlarge)
Click to Enlarge Name: twosetups.gif Size: 22 KB
"Buy on fear, sell on greed !!!
  • #48
  • Aug 17, 2010 8:57am Aug 17, 2010 8:57am
Thanks Petar,

It would be helpful for myself and perhap others if I set out the rules you have outlined. Please correct if my understanding is not correct.

Buy setups:

1. Leading candle is smaller than candle1 and candle2 (incl wicks)-- in some examples you have given tho' this is not the case, as billbss has also pointed out.
2. Leading candle low is lower than candle1 low and candle2 low
3. Leading candle high is min 50% ( or top half) of either candle1 or candle2)
4. Candle1 andcandle2 high is geater than leading candle high.

Sell setups:

1.Leading candle is smaller than candle1 and candle2
2. Leading candle high is higher than candle1 high and candle2 high
3. Leading candle low is min 50% ( or bottom half)of either candle1 or candle2.
4. Candle 1 and candle 2 low is lower than leding candle low.

In all cases, if conds are met, enter at close of candle2.


Please correct me if I have got any ofthe above wrong.

Thanks Petar.
  • #49
  • Aug 17, 2010 9:07am Aug 17, 2010 9:07am
Quoting Pardy
Thanks Petar,

It would be helpful for myself and perhap others if I set out the rules you have outlined. Please correct if my understanding is not correct.

Buy setups:

1. Leading candle is smaller than candle1 and candle2 (incl wicks)-- in some examples you have given tho' this is not the case, as billbss has also pointed out.
2. Leading candle low is lower than candle1 low and candle2 low
3. Leading candle high is min 50% ( or top half) of either candle1 or candle2)
4. Candle1 andcandle2 high is geater than leading candle high.

Sell setups:...

Pardy,
I'm pretty sure I have deciphered what he meant.

Quote
1. Leading candle is smaller than candle1 and candle2 (incl wicks)-- in some examples you have given tho' this is not the case, as billbss has also pointed out.
In the case of a buy setup, the High of the leading candle cannot be higher than the High of either of the other two candles. Same logic for a sell set up.

In other words your #4 is what he meant in his #1 rule.
  • #50
  • Aug 17, 2010 9:26am Aug 17, 2010 9:26am
50 posts, 23 attachments and 32 viewers currently reading this thread. not even one member understood the system

is it that hard to explain a simple candle stick system that has just 3 bars ?
  • #51
  • Aug 17, 2010 9:50am Aug 17, 2010 9:50am
Hi Petar..

Thanks for your new candle formations! You have stated in your first post that one of your rule is that the leading candle must close in the 50% range of candle 1 or candle 2. But I often see in your examples that this is not the case!!So what is the deal here???Do I get something wrong???Thank you
  • #52
  • Aug 17, 2010 9:55am Aug 17, 2010 9:55am
Can I ask, how successful is this pattern?

thanks.
Enter Signature
  • #53
  • Aug 17, 2010 9:56am Aug 17, 2010 9:56am
Quoting goldcrash
Hi Petar..

Thanks for your new candle formations! You have stated in your first post that one of your rule is that the leading candle must close in the 50% range of candle 1 or candle 2. But I often see in your examples that this is not the case!!So what is the deal here???Do I get something wrong???Thank you
maybe he sometimes uses this discretion?
Enter Signature
  • #54
  • Aug 17, 2010 10:11am Aug 17, 2010 10:11am
Quoting goldcrash
Hi Petar..

Thanks for your new candle formations! You have stated in your first post that one of your rule is that the leading candle must close in the 50% range of candle 1 or candle 2. But I often see in your examples that this is not the case!!So what is the deal here???Do I get something wrong???Thank you

If you pour over his examples and explanations, you'll find he didn't mean it had to close above/below the midpoint.

He meant that the H or L of the Leading Candle must break the midpoint.
  • #55
  • Aug 17, 2010 10:17am Aug 17, 2010 10:17am
Quoting roundrock
50 posts, 23 attachments and 32 viewers currently reading this thread. not even one member understood the system

is it that hard to explain a simple candle stick system that has just 3 bars ?
I already understood, since the first page... and already testing in my test live account. So far 2 trades, 2 positives. By the way, trading in daily charts.
  • #56
  • Aug 17, 2010 10:23am Aug 17, 2010 10:23am
Quoting billbss
Here is a 1H chart of EUR/USD.

I believe I have marked the set-ups properly, although I may have missed one or two.

If the bottom/top of the Leading Candle was set as the SL, all but one (marked with a red X) of these would have been in profit before being stopped out.

* The last one on the chart hasn't played out yet. It may be another one that never saw profit.
OMG guys how you cant undestand i explained very slow and also i posted many chart for example...


bilbss most of your setups are correct just 3,4 arent good...Reason is we need for leading candle pin as i said in your 2 exmaples we dont have any low pin for leading candle others examples are correct
On your fourth trade i dont see from this view leading candles high is same as like candle 1 but i cant see good if isnt same that is also good setup


Cheers


Petar
"Buy on fear, sell on greed !!!
  • #57
  • Aug 17, 2010 10:28am Aug 17, 2010 10:28am
Quoting billbss
If you pour over his examples and explanations, you'll find he didn't mean it had to close above/below the midpoint.

He meant that the H or L of the Leading Candle must break the midpoint.
Exatcly,

bilbss answered correct... Thanks bilbss


Also i must say this isnt any holy grail or something like that this is new candle formations and you can use alone or with some strategy you prefer,final goal is simple ,we wont more positive trades than negative i think it will posible if you use this formation and good MM in every trade


Cheers


Petar
"Buy on fear, sell on greed !!!
  • #58
  • Aug 17, 2010 10:29am Aug 17, 2010 10:29am
Quoting Petar_Serbia
OMG guys how you cant undestand i explained very slow and also i posted many chart for example...


bilbss most of your setups are correct just 3,4 arent good...Reason is we need for leading candle pin as i said in your 2 exmaples we dont have any low pin for leading candle others examples are correct
On your fourth trade i dont see from this view leading candles high is same as like candle 1 but i cant see good if isnt same that is also good setup


Cheers


Petar
What is your definition of "pin"? There are several definitions floating around.
Do you mean that the body of the leading candle must be engulfed by candle1?
  • #59
  • Aug 17, 2010 10:33am Aug 17, 2010 10:33am
Quoting billbss
What is your definition of "pin"? There are several definitions floating around.
Do you mean that the body of the leading candle must be engulfed by candle1?
Inst important wich size is pin for formation,i dont see pin on your picture if you have pin its ok and that is correct setup...

As i said when you learn this formation there will be many trades and setups every day...We will post setups together becouse everyone can see on diferent frame,diferent pair and that will be good...


Cheers


Petar
"Buy on fear, sell on greed !!!
  • #60
  • Aug 17, 2010 10:35am Aug 17, 2010 10:35am
Quoting Petar_Serbia
Inst important wich size is pin for formation,i dont see pin on your picture if you have pin its ok and that is correct setup...

As i said when you learn this formation there will be many trades and setups every day...We will post setups together becouse everyone can see on diferent frame,diferent pair and that will be good...


Cheers


Petar
What are you calling "pin"?

There are many definitions.

Which one are you using?
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