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NEW Candles Formation Trading -Petar Formation

  • #101
  • Aug 17, 2010 12:41pm Aug 17, 2010 12:41pm
Can't u make a an EA using your strategy ?
  • #102
  • Aug 17, 2010 1:04pm Aug 17, 2010 1:04pm
Quoting Tuner
I really appreciate your efforts to show and explain your system. Even if it is hard for you to explain it in English language you still try to help.
We may have different native languages but we should all understand the language of charts. Petar posted lots of charts with examples. So go through these to get a better understanding should make things clearer.
Just post your own chart in here then if you spottet a setup and sure Petar will comment if it is a valid one or not.

Totaly agree my friend , we are here to help each other and that is why i started this


Now we have i think good setup for min 30 pips we will see >

H1 Cable setup >


Cheers Petar
Attached Image (click to enlarge)
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"Buy on fear, sell on greed !!!
  • #103
  • Aug 17, 2010 1:10pm Aug 17, 2010 1:10pm
USDCAD also looks promising we will see



We have good trendline,good retrace zone and i expext sell for 100-150 pips





Cheers


Petar
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"Buy on fear, sell on greed !!!
  • #104
  • Aug 17, 2010 1:12pm Aug 17, 2010 1:12pm
hi petar,

i wanted to create an indicator which shows all "petar-formations" but i still have not understand it. to understand it easier, i call the candles: candle1, candle2, candle3 (from left to right).

short-setup:
1) High(candle2) > High(candle1) and High(candle2) > High(candle3)
2) Close(candle2) < High(candle1) - (High(candle1)-Low(candle1))/2
3) Close(candle2) < High(candle3)

is that mathematically correct?
  • #105
  • Aug 17, 2010 1:15pm Aug 17, 2010 1:15pm
Quoting mistersimple
petar, very interesting
IT S FUN how people find almost same strategies at almost same time.. i was asking one guy these days from forum to make an EA for that...
however I was only looking at Bullish-Bearish-Bearish pattern (Bearish-Bullish-Bullish) .. + AwesomeOscillator filter//
the filter will miss good trades but on the other side it will take 90% sure that u will earn some good pips.. i will not tell it exactly but its not hard to notice if u study charts...
if he agrees, we can maybe work together with you?
How do you use the Awesome Oscillator as a filter for Petar's system?

Thanks
  • #106
  • Aug 17, 2010 1:16pm Aug 17, 2010 1:16pm
Petar, thanks for an interesting idea.
How long have you been trading this system and do you trade it live or on demo?

Thanks,

Michael
  • #107
  • Aug 17, 2010 1:19pm Aug 17, 2010 1:19pm
Quoting more
hi petar,

i wanted to create an indicator which shows all "petar-formations" but i still have not understand it. to understand it easier, i call the candles: candle1, candle2, candle3 (from left to right).

short-setup:
1) High(candle2) > High(candle1) and High(candle2) > High(candle3)
2) Close(candle2) < High(candle1) - (High(candle1)-Low(candle1))/2
3) Close(candle2) < High(candle3)

is that mathematically correct?

Uf i dont know is that correct,you must ask programer for this...I dont undestand first High(candle2) > High (candle1) and High (candle2)

I see two times candle 2 i dont undestand well


Petar
"Buy on fear, sell on greed !!!
  • #108
  • Aug 17, 2010 1:20pm Aug 17, 2010 1:20pm
NZD DAILY ~ out of 18 trades, with stoploss +/- 1pips ontop or below leading candle with all trades entered after close of candle 2 will have generated 13wins and 5 losses(more than 70%), with minumum target of atleast Risk/reward 1:1, most of the winning trades have greater profit ratios.

Trades can be improved, when scaling is used, maybe after the R.R.1.1 target met to let profit run till a valid oppposing formation occurs
Attached Image (click to enlarge)
Click to Enlarge Name: nzd.gif Size: 45 KB
  • #109
  • Aug 17, 2010 1:21pm Aug 17, 2010 1:21pm
Quoting finally
Petar, thanks for an interesting idea.
How long have you been trading this system and do you trade it live or on demo?

Thanks,

Michael
As i said finally i trade pure price action with SUP Res demand zone this this i discovered when i traded that,most of my good trades begin from this formation that is how i got idea and i just posted..This is candle formation isnt system,you can use as like system with your rules that is why we post all this,we will see wich method will be more acurate...We are here to test,feel free to post charts,never mind wicch is pair just post we will discus..



Cheers

Petar
"Buy on fear, sell on greed !!!
  • #110
  • Aug 17, 2010 1:25pm Aug 17, 2010 1:25pm
Quoting mistersimple
petar, very interesting
IT S FUN how people find almost same strategies at almost same time.. i was asking one guy these days from forum to make an EA for that...
however I was only looking at Bullish-Bearish-Bearish pattern (Bearish-Bullish-Bullish) .. + AwesomeOscillator filter//
the filter will miss good trades but on the other side it will take 90% sure that u will earn some good pips.. i will not tell it exactly but its not hard to notice if u study charts...
if he agrees, we can maybe work together with you?
I just saw your post sory

Its ok we are here to help each other,you are always welcome

Cheers


Petar
"Buy on fear, sell on greed !!!
  • #111
  • Aug 17, 2010 1:25pm Aug 17, 2010 1:25pm
@petar: High(candle1) means the high of the left candle.
Close(candle2) means the close of the middle candle.
And high(candle3) means the high of the right candle.

it's not so hard...

maybe someone else could also have a look at my question if you would like to have an indicator.
  • #112
  • Aug 17, 2010 1:26pm Aug 17, 2010 1:26pm
Quoting aragorn73
Can't u make a an EA using your strategy ?
Aragorn slowly litle

First we need to practice and practice than we will see.. For now no EA...



Cheers and welcome to the thread


Petar
"Buy on fear, sell on greed !!!
  • #113
  • Aug 17, 2010 1:28pm Aug 17, 2010 1:28pm
Quoting pet
NZD DAILY ~ out of 18 trades, with stoploss +/- 1pips ontop or below leading candle with all trades entered after close of candle 2 will have generated 13wins and 5 losses(more than 70%), with minumum target of atleast Risk/reward 1:1, most of the winning trades have greater profit ratios.

Trades can be improved, when scaling is used, maybe after the R.R.1.1 target met to let profit run till a valid oppposing formation occurs
That i wrote...

We are here to test and to trade with this pattern,this pattern can help us for good setups...Good chart i dont like much indies but your is ok,you use Gravity that is good indi but you must know to work with that indi...


Good profit factor
"Buy on fear, sell on greed !!!
  • #114
  • Aug 17, 2010 1:37pm Aug 17, 2010 1:37pm
Quoting Petar_Serbia
That i wrote...

We are here to test and to trade with this pattern,this pattern can help us for good setups...Good chart i dont like much indies but your is ok,you use Gravity that is good indi but you must know to work with that indi...


Good profit factor
cheers and keep the good work
  • #115
  • Aug 17, 2010 1:37pm Aug 17, 2010 1:37pm
Quoting more
@petar: High(candle1) means the high of the left candle.
Close(candle2) means the close of the middle candle.
And high(candle3) means the high of the right candle.

it's not so hard...

maybe someone else could also have a look at my question if you would like to have an indicator.
Hi More.
I would very much like an indicator. It can be quite helpful for this method.
Look at my Post #79.
I simply outlined the rules for this method.
It is very easy to understand.
Perhaps you can make the indicator and or alert appear AFTER the SECOND (leading) candle instead of the third candle.
This way we can have enough time to prepare for the trade and look at other technical factors.

Thanks A lot,

Michael
  • #116
  • Aug 17, 2010 1:39pm Aug 17, 2010 1:39pm
Petar look at all of the people viewing the thread. ooooooooo
  • #117
  • Aug 17, 2010 1:44pm Aug 17, 2010 1:44pm
Quoting Josh44
Petar look at all of the people viewing the thread. ooooooooo

petar is a f@cking rock star
  • #118
  • Aug 17, 2010 1:44pm Aug 17, 2010 1:44pm
Quoting Josh44
Petar look at all of the people viewing the thread. ooooooooo
We are here to help each other and all guys are welcome
"Buy on fear, sell on greed !!!
  • #119
  • Aug 17, 2010 1:46pm Aug 17, 2010 1:46pm
Quoting mfoste1
petar is a f@cking rock star
my bro
"Buy on fear, sell on greed !!!
  • #120
  • Aug 17, 2010 1:59pm Aug 17, 2010 1:59pm
Quoting Petar_Serbia
Again look chart,i know when i posted thread many of you wont undestand becouse for this you must trade 1,2,3,4 weeks to undestand well.You must practice and than everyting will be clear.This is for guys wich have patinace to learn and to practice,who dont have its ok ..



Picture >


Petar
WE got exit signal becoue this is reversal setup we will see ...



CHeers


Petar
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"Buy on fear, sell on greed !!!
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