NEW Candles Formation Trading -Petar Formation | Page 37 | Forex Factory

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NEW Candles Formation Trading -Petar Formation

  • #721
  • Sep 7, 2010 9:30am Sep 7, 2010 9:30am
Quoting candletrader
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.
I use just Trendlines and vlomume and that is all : Price action is best indicator
"Buy on fear, sell on greed !!!
  • #722
  • Sep 7, 2010 9:49am Sep 7, 2010 9:49am
Petar is red arrow point to a good formation? I know there is no S/R or volume but I am just trying to make sure that I can spot the formation correctly.
Attached Image (click to enlarge)
Click to Enlarge Name: leading candle EU weekly.png Size: 24 KB
  • #723
  • Sep 7, 2010 9:58am Sep 7, 2010 9:58am
Quoting nikim
Petar is red arrow point to a good formation? I know there is no S/R or volume but I am just trying to make sure that I can spot the formation correctly.
Yes it is ...
"Buy on fear, sell on greed !!!
  • #724
  • Sep 7, 2010 10:03am Sep 7, 2010 10:03am
Petar is it time to go short in AUDUSD?.

  • #725
  • Sep 7, 2010 10:17am Sep 7, 2010 10:17am
Quoting James Pier
Petar is it time to go short in AUDUSD?.

Yep for me yes We will see ...
"Buy on fear, sell on greed !!!
  • #726
  • Sep 7, 2010 10:18am Sep 7, 2010 10:18am
Would you have taken this trade and why?

Note: The leading candle is 20pips and the 2nd candle is 16pips. Small difference.
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr UJ.png Size: 16 KB
  • #727
  • Sep 7, 2010 10:22am Sep 7, 2010 10:22am
Quoting Petar_Serbia
I see very good setup on EURUSD,Formation on TL + Low volume looks great but this is Forex and that isnt gurante for succes,that is why we use good MM>>


Cheers

Petar
Now we test low TL i will wait to see price action for close still short :

Cheers

Petar
Attached Image (click to enlarge)
Click to Enlarge Name: update.gif Size: 19 KB
"Buy on fear, sell on greed !!!
  • #728
  • Sep 7, 2010 10:30am Sep 7, 2010 10:30am
This seems more like a setup I would be willing to trade. But would you enter short at the close of the 2nd candle or do you place a sell stop at the low of the 2nd candle?

Or is this an invalid formation?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: NU 4hr.png Size: 16 KB
  • #729
  • Sep 7, 2010 10:33am Sep 7, 2010 10:33am
I will answer on all unaswered questions later now i must go,,,,


Cheers guys


Petar
"Buy on fear, sell on greed !!!
  • #730
  • Sep 7, 2010 11:39am Sep 7, 2010 11:39am
+34 pips on AUD / CAD

Hi Guys,

Here is my first post and look what AUD / CAD did since 5 hours.
http://my.jetscreenshot.com/demo/201...w6qc-751kb.jpg

http://my.jetscreenshot.com/4229/201...bcr6-275kb.jpg
  • #731
  • Sep 7, 2010 4:28pm Sep 7, 2010 4:28pm
Quoting nikim
This seems more like a setup I would be willing to trade. But would you enter short at the close of the 2nd candle or do you place a sell stop at the low of the 2nd candle?

Or is this an invalid formation?

Thanks
I just back from city and i will answer on questions

I enter when second candle finish but sometimes i took earlier if i see strong TL or sup-res zone...

Cheers

Petar
"Buy on fear, sell on greed !!!
  • #732
  • Sep 7, 2010 4:31pm Sep 7, 2010 4:31pm
Quoting Petar_Serbia
Now we test low TL i will wait to see price action for close still short :

Cheers

Petar
Price looking to brake my low TL and i plan to put SL on +100 but i will decide current profit +170


Cheers


Petar
Attached Image (click to enlarge)
Click to Enlarge Name: update2.gif Size: 19 KB
"Buy on fear, sell on greed !!!
  • #733
  • Sep 7, 2010 4:50pm Sep 7, 2010 4:50pm
Quoting Petar_Serbia
Price looking to brake my low TL and i plan to put SL on +100 but i will decide current profit +170


Cheers


Petar
Petar, I have sold gbp/cad @ 1.5930 and Aud/Chf @0.9001. Will you please look at your system n find out when will I be out of red in these two trades please?
Thanks.
  • #734
  • Sep 8, 2010 1:56am Sep 8, 2010 1:56am
Hi again
i sell USDCAD @1,0475, SL 1,0510, TP 1,0420
i think this area is a strong resistance, weekly and monthly pivots, previous tops and bottoms and candle formation at 4h. Will see.

http://a.imageshack.us/img441/6711/usdcad08092010.jpg
  • #735
  • Edited 5:36am Sep 8, 2010 5:18am | Edited 5:36am
Quoting pet
thats the way, you got to be in it to PIP it, nice one. many pips everywhere even with re-entries

just took another +50 and +100pips into the bag with re-entries, already 100pips yesterday from 1 position with TP taken @107.76, now only one original position open with free trade, SL now at entry @106.62.

Aussie, ausjpy, EURGBP is especially doing very well

just open buy eurjpy at critical point in chart posted last week, which turned to be a very fantastic and rewarding trade with multiple positions with all targets met and over-met, will post current trade chart with targets, my bias is towards 109.58s again with revised intermediate targets
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 28 KB
  • #736
  • Sep 8, 2010 6:00am Sep 8, 2010 6:00am
Quoting mfinab
+34 pips on AUD / CAD

Hi Guys,

Here is my first post and look what AUD / CAD did since 5 hours.
http://my.jetscreenshot.com/demo/201...w6qc-751kb.jpg
Hi Everyone,
I have closed my trade to early 0,95535, look how far it goes right now! WoW !!
http://my.jetscreenshot.com/4229/201...mmga-315kb.jpg
  • #737
  • Sep 8, 2010 6:08am Sep 8, 2010 6:08am
EURJPY, still a cautious trade but am in with +43pips profit, would like to see a solid close above 106.52 , targets are on charts, other levels am watching for bullish are 106.75,107.42,107.89,108.66,109.51,109.87,110.41, these levels are resistance and can be TP as well depending on PA
ENTRY 106.00

..this is what i see atm
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpyfresh.gif Size: 23 KB
Click to Enlarge Name: eurjpyfresh15.gif Size: 37 KB
  • #738
  • Sep 8, 2010 6:22am Sep 8, 2010 6:22am
Quoting pet
EURJPY, still a cautious trade but am in with +43pips profit, would like to see a solid close above 106.52 , targets are on charts, other levels am watching for bullish are 106.75,107.42,107.89,108.66,109.51,109.87,110.41, these levels are resistance and can be TP as well depending on PA
ENTRY 106.00

..this is what i see atm
Hi Pet,

You seems to have find a good signal, but on my chart the Petar formation isn't there. I will enter in trade anyway. My Stop loss is 105.80 and first tp1 is what you have expect.

Does my stop loss is good ?

Thanks for posting !!
  • #739
  • Sep 8, 2010 6:50am Sep 8, 2010 6:50am
Quoting mfinab
Hi Pet,

You seems to have find a good signal, but on my chart the Petar formation isn't there. I will enter in trade anyway. My Stop loss is 105.80 and first tp1 is what you have expect.

Does my stop loss is good ?

Thanks for posting !!
SL depends on individual trader and how you see the trade,your SL looks tight enough mine is a few more pips down @105.74 on one position and 105.34, for me i think my best trades SL is always below or above most recent trough or peak cos since am expecting a reversal so even if my SL is taking out, I can easily make more money back because the price wud have just told me a very important message as to where the new bias target will be..Ive noticed that sometimes SL will be taken out prematurely if you dont put your stop above or below the recent/anticipated pivot depending on direction.

for me i find this very comfortable once i can get a good entry and my first target is atleast R.R.1.1, i almost always acheived my 1st TP, where i close one position, then i have the amount exposed in the trade back in my account, so it is almost what someone would call afree trade
  • #740
  • Sep 8, 2010 7:53am Sep 8, 2010 7:53am
Anyone fancy the current 3-candle set up on GBP/USD hourly??

The leading candle is just in the >50% range of candle 2. This will be eliminted should it fall any more tho in the next 10 mins......
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