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NEW Candles Formation Trading -Petar Formation

  • #961
  • Dec 12, 2010 1:03pm Dec 12, 2010 1:03pm
Quoting Al Rez
I think your system is identical to the way the Japanese use them. It just seems to me that you misunderstood or not quite well understood the way the Japanese use the candles. I have seen a few of your life trading examples and a few of the candles you highlighted are simply continuation patterns or reversal patterns which I recognize.
I have watched Petar for a long time on ff. One thing I can say is that he has spent a lot of time studying price action and has found a way to trade candle patterns that are more in tune with market conditions. This shows creativity and critical thinking, we should not be so unflexable as to remain chained to one principle.

If a tree branch doesn't bend it will break.

Just a thought.
  • #962
  • Dec 12, 2010 1:23pm Dec 12, 2010 1:23pm
Yea thanks calde,

Most important thig is to speak about trading,charts,ideas everything else isnt important.I am very busy to watch every day many pairs becouse i have school,students and i trade intraday becouse no enough time to watch.
I will try to post some posible setups but hope some of you will have time to post and to watch where we have good setups...


This is eurjpy setups >
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"Buy on fear, sell on greed !!!
  • #963
  • Dec 13, 2010 4:53am Dec 13, 2010 4:53am
Guys if anyone trade this tehniqe feel free to post charts...


I was away from comp and i didnt take one good buy on eurusd....

Cheers

Petar
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"Buy on fear, sell on greed !!!
  • #964
  • Dec 13, 2010 4:59am Dec 13, 2010 4:59am
Quoting calderone
I have watched Petar for a long time on ff. One thing I can say is that he has spent a lot of time studying price action and has found a way to trade candle patterns that are more in tune with market conditions. This shows creativity and critical thinking, we should not be so unflexable as to remain chained to one principle.

If a tree branch doesn't bend it will break.

Just a thought.

I am not per se saying that his way is wrong. I am sure it works excellent and I am not even trying to dispute that, since I don't know his actual performance.

However, what I am saying is that I find it quite strange that he calls them "Petar Candles" when in fact I have recognized plenty of basic candle chart patterns which he appears to trade (according to the chart).

I didn't mean to offend anyone or cause any sort of upsets. But since I have to defend myself, I need to explain my position a bit further.

For example...

http://img717.imageshack.us/img717/5548/minimum50.jpg

That's a dark cloud cover. I trade that one, or its bullish brother the piercing pattern, quite often. The rules he describes are the exact same rules one would trade, for the dark cloud cover (over 50% penetration etc).

Having said that, I do admit some of his rules are different from a traditional way of interpreting candles, including this dark cloud pattern. That particular pattern though has been around for at least a hundred years or two hundred.

Anyways, happy pips guys.
  • #965
  • Dec 13, 2010 5:33am Dec 13, 2010 5:33am
Quoting Al Rez
I am not per se saying that his way is wrong. I am sure it works excellent and I am not even trying to dispute that, since I don't know his actual performance.

However, what I am saying is that I find it quite strange that he calls them "Petar Candles" when in fact I have recognized plenty of basic candle chart patterns which he appears to trade (according to the chart).

I didn't mean to offend anyone or cause any sort of upsets. But since I have to defend myself, I need to explain my position a bit further.

For example...

http://img717.imageshack.us/img717/5548/minimum50.jpg...
Thanks for the chart.
  • #966
  • Dec 13, 2010 6:05am Dec 13, 2010 6:05am
Quoting Al Rez
I am not per se saying that his way is wrong. I am sure it works excellent and I am not even trying to dispute that, since I don't know his actual performance.

However, what I am saying is that I find it quite strange that he calls them "Petar Candles" when in fact I have recognized plenty of basic candle chart patterns which he appears to trade (according to the chart).

I didn't mean to offend anyone or cause any sort of upsets. But since I have to defend myself, I need to explain my position a bit further.

For example...

http://img717.imageshack.us/img717/5548/minimum50.jpg

That's...
You forgot one thing,about pins.Pin must be greater than body of leading candle.That strict rule is characteristic for my formation.Becouse i strick trade with that rules.I created my rules for formation and i dont know why we speak about that.Most important thing is to earninng pips and as i said if you dont have ideas,setup or something to speak about trading about this method,dont post,its simple..

Petar
"Buy on fear, sell on greed !!!
  • #967
  • Dec 13, 2010 6:47am Dec 13, 2010 6:47am
Quoting Petar_Serbia
You forgot one thing,about pins.Pin must be greater than body of leading candle.That strict rule is characteristic for my formation.Becouse i strick trade with that rules.
What happens with the pin rule in example of Petar Pag 20 Post 300?
Attached Image
  • #968
  • Dec 13, 2010 6:58am Dec 13, 2010 6:58am
Quoting ducke
What happens with the pin rule in example of Petar Pag 20 Post 300?
As like many others thing,my formation is evolved and i love to see formation with good pin of leading candle,but nevermind wich you use becouse price action is much important.As i said many times before,every strategy,formation,everything is based on price action.If you learned to read charts based on price action,you can trade every system with no problem...

With or withaout pin is nevermind...
"Buy on fear, sell on greed !!!
  • #969
  • Dec 14, 2010 11:14am Dec 14, 2010 11:14am
Hey Petar,

Please don't be offended, but when you put a system online some people will question it before they use. I do try my best to be polite and I am thankful you are kind enough to share it.

Can I ask you what do you mean by pin, because I saw you mention it a few times? Do you mean the wick?
  • #970
  • Dec 15, 2010 12:21am Dec 15, 2010 12:21am
Quoting Al Rez
Hey Petar,

Please don't be offended, but when you put a system online some people will question it before they use. I do try my best to be polite and I am thankful you are kind enough to share it.

Can I ask you what do you mean by pin, because I saw you mention it a few times? Do you mean the wick?
Hello there,

Yea i mean Candle wick...


Petar
"Buy on fear, sell on greed !!!
  • #971
  • Dec 15, 2010 12:29am Dec 15, 2010 12:29am
ONe potecnial setup if broke diagonal and Red dot stay last..
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"Buy on fear, sell on greed !!!
  • #972
  • Dec 15, 2010 1:43am Dec 15, 2010 1:43am
Quoting Petar_Serbia
ONe potecnial setup if broke diagonal and Red dot stay last..
Hi Peter, looks like nice setup, if all conditions are filled. This is my closer look at M15 TF. We have nice triangle formation w/ switching blue and red dots, so will see :-)
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  • #973
  • Dec 15, 2010 1:47am Dec 15, 2010 1:47am
whats the advantage of using the purple squares ?
  • #974
  • Dec 15, 2010 2:03am Dec 15, 2010 2:03am
Quoting Petar_Serbia
ONe potecnial setup if broke diagonal and Red dot stay last..
We started down...We will see how will finish...


Cheers
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"Buy on fear, sell on greed !!!
  • #975
  • Dec 15, 2010 2:08am Dec 15, 2010 2:08am
Quoting dragan53
whats the advantage of using the purple squares ?
as per my understanding those are congestion areas and once a candle closes above or below those boxes, the movement is more rapid than within those boxes/bands.....
Raza
  • #976
  • Dec 15, 2010 2:17am Dec 15, 2010 2:17am
Quoting shr5
as per my understanding those are congestion areas and once a candle closes above or below those boxes, the movement is more rapid than within those boxes/bands.....
Abolutly yes,you answered correct..
"Buy on fear, sell on greed !!!
  • #977
  • Dec 15, 2010 2:25am Dec 15, 2010 2:25am
Quoting shr5
as per my understanding those are congestion areas and once a candle closes above or below those boxes, the movement is more rapid than within those boxes/bands.....
Quoting Petar_Serbia
Abolutly yes,you answered correct..
THANKS

http://img805.imageshack.us/img805/9...ksforadd15.jpg
  • #978
  • Dec 15, 2010 4:49am Dec 15, 2010 4:49am
Quoting Petar_Serbia
We started down...We will see how will finish...


Cheers
THis wastn been good setup becouse we didnt have oposite break to look again for sell.If you see on picture 2 times price tested Upper conge but no break.That is why we use Conge indi,i didnt look in zoom to check for sure,my mistake becouse i look for intraday setups i wanted to help here also


Cheers

Petar
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"Buy on fear, sell on greed !!!
  • #979
  • Dec 15, 2010 4:59am Dec 15, 2010 4:59am
Eujjpy is also interesing
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"Buy on fear, sell on greed !!!
  • #980
  • Dec 15, 2010 12:11pm Dec 15, 2010 12:11pm
Quoting Petar_Serbia
THis wastn been good setup becouse we didnt have oposite break to look again for sell.If you see on picture 2 times price tested Upper conge but no break.That is why we use Conge indi,i didnt look in zoom to check for sure,my mistake becouse i look for intraday setups i wanted to help here also


Cheers

Petar
As i said

This is good one
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"Buy on fear, sell on greed !!!
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