NEW Candles Formation Trading -Petar Formation | Page 9 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

M candles / Custom candles for second charts 1 reply

Calculating only buy candles vs sell candles 2 replies

candles and trading lines 42 replies

Weekly charts trading (candles/bars) 2 replies

Daily Strategy Trading Journal - Trendlines, Candles & Channels 35 replies

Attachments: NEW Candles Formation Trading -Petar Formation
Exit Attachments

NEW Candles Formation Trading -Petar Formation

  • #161
  • Aug 18, 2010 5:01am Aug 18, 2010 5:01am
really??
  • #162
  • Aug 18, 2010 5:04am Aug 18, 2010 5:04am
Quoting pet
really??
low of leading candle has to be higher then low 1 AND low 2

That is how I get it
  • #163
  • Aug 18, 2010 5:09am Aug 18, 2010 5:09am
Quoting Dezil
low of leading candle has to be higher then low 1 AND low 2

That is how I get it
Hello guys i just back from city,yea Dezil you are correct...

Pet your leading candle in some your setups has lower low than candle 1 or candle 2...
"Buy on fear, sell on greed !!!
  • #164
  • Aug 18, 2010 5:09am Aug 18, 2010 5:09am
Quoting Dezil
low of leading candle has to be higher then low 1 AND low 2

That is how I get it


on a sell setup, you are looking at high of leading candle and opposite for buy setup, no need to confuse yourself wether the low of middle candle is higher or lower, we are looking for reversals or turning points so we are watching highest candle in buy and lowest candle in sell.
  • #165
  • Aug 18, 2010 5:13am Aug 18, 2010 5:13am
Quoting Petar_Serbia
Hello guys i just back from city,yea Dezil you are correct...

Pet your leading candle in some your setups has lower low than candle 1 or candle 2...

I dont think so, maybe my rectangle highlight dont place properly, in anycase Petar you should know where the leading candle is any of the highlighted, will look through again just to be sure.
  • #166
  • Aug 18, 2010 5:17am Aug 18, 2010 5:17am
Quoting pet
I dont think so, maybe my rectangle highlight dont place properly, in anycase Petar you should know where the leading candle is any of the highlighted, will look through again just to be sure.
Some of your trades are good

But look first rule from first post >

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

In some your setups i see Lower leading candle from candle 2 or candle 1...Just that corrcet other is ok...Good chart


Petar
"Buy on fear, sell on greed !!!
  • #167
  • Aug 18, 2010 5:19am Aug 18, 2010 5:19am
Quoting pet
New sell setup on M5 just now, notice I already have buy opened from yesterday based on daily and H4, opened two buys one closed already, riding the other, now lets see if this M5 setup will add $$$.

if entered at close of Candle 2 at 0.71725, the way i trade this setup and other similar is 1pip plus spread above the Leading candle @ 0.7179 or .7180 or just 8pips exposure, atleast R:R:1:1 should be in order with target at near minor support at 0.7166(see chart below).


Setup rendered invalid on M5, loss -8pips
From what I see. the setup was not valid. The leading candle low did not meet the range condition, ie it should have been in the bottom half of either candle1 or candle 2.

Luckily, only a small loss which you should soon recover.
  • #168
  • Aug 18, 2010 5:31am Aug 18, 2010 5:31am
Quoting pet
New sell setup on M5 just now, notice I already have buy opened from yesterday based on daily and H4, opened two buys one closed already, riding the other, now lets see if this M5 setup will add $$$.

if entered at close of Candle 2 at 0.71725, the way i trade this setup and other similar is 1pip plus spread above the Leading candle @ 0.7179 or .7180 or just 8pips exposure, atleast R:R:1:1 should be in order with target at near minor support at 0.7166(see chart below).


Setup rendered invalid on M5, loss -8pips
Yea Pet this is invalid setup Rule one isnt meet

My audusd looks very good soon TP of 120 pips
"Buy on fear, sell on greed !!!
  • #169
  • Aug 18, 2010 5:38am Aug 18, 2010 5:38am
Nice, but almost examples don't fit the 50 procent rule, that's why many people are confused. So is this 50 procent rule valid or not part of your method any longer ?
  • #170
  • Aug 18, 2010 5:54am Aug 18, 2010 5:54am
GUys i created another picture to undestand matematicly what you looking !!!!





LOOK PICTURE > > > > >
Attached Image (click to enlarge)
Click to Enlarge Name: rule.gif Size: 14 KB
"Buy on fear, sell on greed !!!
  • #171
  • Aug 18, 2010 6:06am Aug 18, 2010 6:06am
Quoting Petar_Serbia
GUys i created another picture to undestand matematicly what you looking !!!!





LOOK PICTURE > > > > >
"A=C AIWAYS"

Petar, what do you mean by this rule?
  • #172
  • Aug 18, 2010 6:13am Aug 18, 2010 6:13am
Quoting ducke
Excuse me, Friends, I have questions in the Chart.

Ducke
What are the answers to the questions in the post #150?

Ducke
  • #173
  • Aug 18, 2010 6:17am Aug 18, 2010 6:17am
Quoting Petar_Serbia
GUys i created another picture to undestand matematicly what you looking !!!!
LOOK PICTURE > > > > >
In post # 1,"Sell Example". does not meet the characteristics that explain in your last post.

Ducke
  • #174
  • Aug 18, 2010 6:22am Aug 18, 2010 6:22am
Thanks Petar for pointing that out, I see you have enhanced the setup which is good as false trades will be reduced, I was going by the rule that as far Leading candle range meets more than 50% of either Candle 1 and 2 then its alright..

I have looked at charts and found out the few trades that lost out in charts that posted earlier although meeting 50% size in range of atleast one of 1 and 2 but did not go up to half into range of either Candle 1 or 2.

This is similar to a setup I used to trade in my foundations days that was profitable while it lasted till I blew my account but this is a more stable and safer approach, this improvement would have saved a lot of pips.

are you still on the NZDUSD entered yesterday?, mine is going +65pips profit.
  • #175
  • Aug 18, 2010 6:29am Aug 18, 2010 6:29am
Is this more like it in M15 sell setup?? maybe should close previous buy trade..
Attached Image (click to enlarge)
Click to Enlarge Name: nzdm15.gif Size: 29 KB
  • #176
  • Aug 18, 2010 6:42am Aug 18, 2010 6:42am
Quoting Dezil
"A=C AIWAYS"

Petar, what do you mean by this rule?
Hi Dezil,

I think pon A is always = point C when you calculate...




Petar
"Buy on fear, sell on greed !!!
  • #177
  • Aug 18, 2010 6:45am Aug 18, 2010 6:45am
Quoting ducke
In post # 1,"Sell Example". does not meet the characteristics that explain in your last post.

Ducke
Yea i made mistake in one example on first post i will correct...I am very busy,i got 10 mails today about this and i must answer,be patiance




Cheers

Petar
"Buy on fear, sell on greed !!!
  • #178
  • Aug 18, 2010 7:01am Aug 18, 2010 7:01am
Petar, what else do yo u use before you enter a trade after you identify these 3 candlestick. I think I've got the hang of it already. And how do you identify exit. I know you said that these candles formation best be used with our other system but right now I don't really have any.
  • #179
  • Aug 18, 2010 7:06am Aug 18, 2010 7:06am
http://a.imageshack.us/img838/648/23july10usdcad.gifhttp://yfrog.com/na23july10usdcadg

Hi Petar, i try to understand your candles formation, very nice thread...
  • #180
  • Aug 18, 2010 7:14am Aug 18, 2010 7:14am
Quoting c2v4l
Petar, what else do yo u use before you enter a trade after you identify these 3 candlestick. I think I've got the hang of it already. And how do you identify exit. I know you said that these candles formation best be used with our other system but right now I don't really have any.
Hah

Yea this formation is very good and as i said if you use with other confirmation can be very powerfull
"Buy on fear, sell on greed !!!
1 trader viewing now