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Attachments: NEW Candles Formation Trading -Petar Formation
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NEW Candles Formation Trading -Petar Formation

  • #701
  • Sep 6, 2010 8:47pm Sep 6, 2010 8:47pm
Hi Petar,

I attached the indicator you posted on your first thread to my eurusd 4hr, but I get somewhat different arrow signals than the one you posted above me!

Also what are those red&blue dots indicate.

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd0906.jpg Size: 56 KB
  • #702
  • Sep 6, 2010 9:25pm Sep 6, 2010 9:25pm
Quoting candletrader
Hi Petar,

I attached the indicator you posted on your first thread to my eurusd 4hr, but I get somewhat different arrow signals than the one you posted above me!

Also what are those red&blue dots indicate.

Thanks.
Yeah, I noticed the same problem too. But I've figured out mine. Turn out the demo mt4 that I'm using close the candle at x:57 instead of x:00. Or it could be because the different of feed.
  • #703
  • Sep 6, 2010 10:39pm Sep 6, 2010 10:39pm
Quoting Petar_Serbia
Hello guys i just back from city i am glad you can find this is profitable i hope we will all together earn good pips
I dont know for this pattern i created for me and i love this formation of course with other confirmation like Volume and TL...

Cheers


Petar
ITs a good pattern no doubt. I wish the coder would add an email alert. I hate sitting in front of a screen all day... well I can't I have a job EEEkk hate that word. But its good for dailys anyway. But also works well on 15m. I used to use it a lot in the bonds and russle 2k
  • #704
  • Sep 7, 2010 3:29am Sep 7, 2010 3:29am
Looks like a great thread Petar. I will be reading thru it today and will post what I think is ur formation and ask for help in identifying the correct formation.

Do you find the formation to work better on higher or lower timeframes( daily v 15min or 4hr v 5min)?

Keep the charts and trade examples coming
  • #705
  • Sep 7, 2010 4:39am Sep 7, 2010 4:39am
Quoting candletrader
Hi Petar,

I attached the indicator you posted on your first thread to my eurusd 4hr, but I get somewhat different arrow signals than the one you posted above me!

Also what are those red&blue dots indicate.

Thanks.
Hello guys,

Yea i noticed that too.Diference is betwen brok.house becouse we have diferent tick data,but all i can say is just work on one platform dont change...

Petar
"Buy on fear, sell on greed !!!
  • #706
  • Sep 7, 2010 4:42am Sep 7, 2010 4:42am
Quoting tommbstone
ITs a good pattern no doubt. I wish the coder would add an email alert. I hate sitting in front of a screen all day... well I can't I have a job EEEkk hate that word. But its good for dailys anyway. But also works well on 15m. I used to use it a lot in the bonds and russle 2k
Yea it will be good about email alert
"Buy on fear, sell on greed !!!
  • #707
  • Sep 7, 2010 4:43am Sep 7, 2010 4:43am
Quoting nikim
Looks like a great thread Petar. I will be reading thru it today and will post what I think is ur formation and ask for help in identifying the correct formation.

Do you find the formation to work better on higher or lower timeframes( daily v 15min or 4hr v 5min)?

Keep the charts and trade examples coming
Nikim i will try to post my setups based on formation + Volume or Tl but that depened my time..

Cheers


PEtar
"Buy on fear, sell on greed !!!
  • #708
  • Sep 7, 2010 4:44am Sep 7, 2010 4:44am
Quoting candletrader
Nice catch Petar on euro...interesting thread, and will be following you...
Welcome to the thread candletrader and thanks for your kind words...


Petar
"Buy on fear, sell on greed !!!
  • #709
  • Sep 7, 2010 6:44am Sep 7, 2010 6:44am
Hi Petar, I just found your thread from following your sig line when we were talking in the ej thread. This looks interesting, I can see that I will have some weekend reading to do this weekend

Many thanks
Doing what you like is Freedom. Liking what you do is Happiness.
  • #710
  • Sep 7, 2010 6:54am Sep 7, 2010 6:54am
Quoting realjumper
Hi Petar, I just found your thread from following your sig line when we were talking in the ej thread. This looks interesting, I can see that I will have some weekend reading to do this weekend

Many thanks
Hello my friend and welcome to the thread.Yea, i opened thread to help others becouse this can help in trading.As i said use this formation like confirmation your strategy and that can be powerfull...


Petar
"Buy on fear, sell on greed !!!
  • #711
  • Sep 7, 2010 7:19am Sep 7, 2010 7:19am
AUD / CAD

Here is a Petar Candle Formation with trends (( Long ))

Let me know your toughts on this one.

Thanks !
http://my.jetscreenshot.com/demo/201...w6qc-751kb.jpg
  • #712
  • Sep 7, 2010 7:39am Sep 7, 2010 7:39am
Quoting mfinab
AUD / CAD

Here is a Petar Candle Formation with trends (( Long ))

Let me know your toughts on this one.

Thanks !
http://my.jetscreenshot.com/demo/201...w6qc-751kb.jpg
Very good setup just my advice put line on swing you see where is down arow and swing left from him than just draw diagonal its more powerfull for me..

Cheers


PEtar
"Buy on fear, sell on greed !!!
  • #713
  • Sep 7, 2010 7:46am Sep 7, 2010 7:46am
Quoting mfinab
AUD / CAD

Here is a Petar Candle Formation with trends (( Long ))

Let me know your toughts on this one.

Thanks !
[...graph deleted...]
Hi all,

This is my (humble) opinion (I assume that you are refering to the last one):

It is not only a Petar formation, but also the leading candle is a good hammer after a good downtrend within a higher level uptrend. It is a clear long entry wrt Petar Formation and Candle Theory. However, there is a clear divergence in the indicator drawn below (is it RSI?) and the previous maximum seems more to be a double top than a clear max. Would I enter? I would wait until a next higher low appears. Otherwise wait until the downtrend is confirmed with a lower high in which case I would be ready for shorting.

But this is only my opinion.

Best Regards and Happy Pips.

Gonso
  • #714
  • Sep 7, 2010 8:08am Sep 7, 2010 8:08am
This is my first post on this forum, so HI to everyone.

I like japanese candles, so this thread is helpful for me to understand how it works. Thanks to Petar for sharing and patience

..and i would like to sorry about my english, it is not my main lang.

So, i found nice setup i think.
EURUSD, support area at 1,2740-50, expect 1,28 and TP2 at 1,2850 (fibo levels)
Attached Image (click to enlarge)
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  • #715
  • Sep 7, 2010 8:44am Sep 7, 2010 8:44am
Afternoon Petar et al.

Newcomer alert!
I am interested in this thread and would like some feedback on the following.....

So. I am looking at EUR/USD 4H (2-6-10) and can see a possible setup. We have the leading candle currently showing a lower low than candle 1. It has 'pin' characteristics, and provided that candle 2 finishes at 6pm GMT between 12769 (leading candle high) and 12786 (making the encroachment of the leading candle into its range >50%) then we're good to go???

Buy at say candle 2 close price +5 pips. SL at leading candle low -5 pips

Thanks

MC
  • #716
  • Sep 7, 2010 8:50am Sep 7, 2010 8:50am
Quoting Petar_Serbia
Very good setup just my advice put line on swing you see where is down arow and swing left from him than just draw diagonal its more powerfull for me..

Cheers


PEtar
Thanks Petar, can you please modify my chart of what you want to explain to me ? Sorry, english is not my native language and have not understand what you explain.

Thanks!
  • #717
  • Sep 7, 2010 8:58am Sep 7, 2010 8:58am
Quoting mfinab
Thanks Petar, can you please modify my chart of what you want to explain to me ? Sorry, english is not my native language and have not understand what you explain.

Thanks!
Yep ok isnt problem >

THis is what i told you >

Cheers

Petar
Attached Image (click to enlarge)
Click to Enlarge Name: mfi.jpg Size: 155 KB
"Buy on fear, sell on greed !!!
  • #718
  • Sep 7, 2010 9:04am Sep 7, 2010 9:04am
Also i see on AUDUSD one potencial setup,we reject from good RES zone we will see when candle finish Also AUDUSD is in good Chanel and i expect down ...

Cheers


Petar
Attached Image (click to enlarge)
Click to Enlarge Name: audo.gif Size: 21 KB
"Buy on fear, sell on greed !!!
  • #719
  • Sep 7, 2010 9:21am Sep 7, 2010 9:21am
Quoting Petar_Serbia
Also i see on AUDUSD one potencial setup,we reject from good RES zone we will see when candle finish Also AUDUSD is in good Chanel and i expect down ...

Cheers


Petar
Thanks ! Will watch this one, nice view !
  • #720
  • Sep 7, 2010 9:28am Sep 7, 2010 9:28am
Yes Petar...agreed with aussie...short looks good.


There are so many indicators regarding this pattern in this thread...which one you think is the best one? Cheers.
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