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Trading Made Simple

  • #35,301
  • Edited 5:12pm Apr 9, 2014 4:58pm | Edited 5:12pm
Quoting emmanuel7788
{quote} Please do not be sorry when you ask a question here. That will help many others too who do not know. Be blessed when you do so. PCRF = Pullback Candle Reversal Formation That is what member Phx62 named those candlestick pattern. He shared many of his H1 trades here in this thread using this PCRF. I learned that, did backtests and found that to be a good setup to use so I added that to my trading arsenal of trade setups to look for when I trade H1.
In post 29205 you refer to PCRF as 'consolidation.'

Quote
Folks:
simply call that CONSOLIDATION .... as Big E pointed out in his post 261.
look for consolidation, ... see how PA is close to supp/res....

Edited to update:
PCRF example here:

http://www.forexfactory.com/showthre...01#post7242501
  • #35,302
  • Apr 9, 2014 5:23pm Apr 9, 2014 5:23pm
Quoting hostwey
{quote} In post 29205 you refer to PCRF as 'consolidation.' {quote} I've read Phx62's PDF's on PCRF, so presumably its more than consolidation? PCRF example here: http://www.forexfactory.com/showthre...01#post7242501
usually what we see after a trend run is that price will consolidates before it decides on whether to continue or to reverse.
I treat the 2nd candle in the PCRF which is a price pull back to be a consolidation and the 3rd candle making a LL close or a HH close will be the complete setup of the PCRF. I therefore put PCRF under my arsenal folder name 'CONSOLIDATION - 3 bar patterns" and developed an indicator alert for them for doing back-testing. I found many good trades in back-testing.

sorry that I created a confusion here.

Attached Image (click to enlarge)
Click to Enlarge Name: 3-Bar pattern on charts.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,303
  • Apr 9, 2014 5:32pm Apr 9, 2014 5:32pm
Quoting emmanuel7788
{quote} usually what we see after a trend run is that price will consolidates before it decides on whether to continue or to reverse. I treat the 2nd candle in the PCRF which is a price pull back to be a consolidation and the 3rd candle making a LL close or a HH close will be the complete setup of the PCRF. I therefore put PCRF under my arsenal folder name 'CONSOLIDATION - 3 bar patterns" and developed an indicator alert for them for doing back-testing. I found many good trades in back-testing. sorry that I created a confusion here. {image}
No problem, thanks for your help. I get it.
  • #35,304
  • Apr 9, 2014 5:46pm Apr 9, 2014 5:46pm
Quoting emmanuel7788
{quote} usually what we see after a trend run is that price will consolidates before it decides on whether to continue or to reverse. I treat the 2nd candle in the PCRF which is a price pull back to be a consolidation and the 3rd candle making a LL close or a HH close will be the complete setup of the PCRF. I therefore put PCRF under my arsenal folder name 'CONSOLIDATION - 3 bar patterns" and developed an indicator alert for them for doing back-testing. I found many good trades in back-testing. sorry that I created a confusion here. {image}
Hi Emmanuel.

I have found that spending much time here it is only now I am beginning to see some of the finer details to profit from TMS

Could you clearly define each bar for me to identify the PCRF so I can also develop an indicator.

Thanks

Gil
  • #35,305
  • Apr 9, 2014 5:50pm Apr 9, 2014 5:50pm
Quoting gurenu
{quote} Hi emmanuel, Honestly I am having a difficult time analyzing the bias. Do you mean if the Daily is in an upward trend then I only have to look for a buy and vise versa? How would i know also if the trend on the daily is reversing. I hope you can help me with this. I think this is my weakness. I have put some trade that i should not have because it goes to the opposite direction. Gurenu

Hi gurenu,

No worries mate. Take some time to learn technical analysis and you will eventually find an approach which you will be comfortable with. That wil take time to gain the knowlegde and then lots of practice will make it perfect for yourself.

Regarding your trade NZDCAD, it will be quite long post to write if I start to explain each chart with a top down analysis approach. I think maybe i should make a 10 minutes video on that.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,306
  • Apr 9, 2014 5:55pm Apr 9, 2014 5:55pm
Quoting GilR
{quote} Hi Emmanuel. I have found that spending much time here it is only now I am beginning to see some of the finer details to profit from TMS Could you clearly define each bar for me to identify the PCRF so I can also develop an indicator. Thanks Gil
Hi GilR,

Okay. I posted something quite long time ago, there was no interest back then. No one responded.

Let me look for that chart where i explained the 3-bar patterns.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,307
  • Apr 9, 2014 6:11pm Apr 9, 2014 6:11pm
Quoting emmanuel7788
{quote} Hi GilR, Okay. I posted something quite long time ago, there was no interest back then. No one responded. Let me look for that chart where i explained the 3-bar patterns. regards, EMMANUEL
Thank you

I think it takes time for us to truly see the "gems" in this TMS thread
  • #35,308
  • Apr 9, 2014 6:18pm Apr 9, 2014 6:18pm
Had a look at the daily bar closes on Iamfx which is gmt+1, but could not find a good daily entry.

The nearest would have been GN but the bar that crosses TMI is indecsive

Will continue to hold yesterdays 3 trades a bit longer
  • #35,309
  • Apr 9, 2014 7:07pm Apr 9, 2014 7:07pm
Quoting Direwolf
Can't stop myself from making another pdf. Thanks again Zoopots. {image}
Thank you so much.You and MR.Aussie PDFs are a big help for me to print them out and study in my way to work

Good Job
Mike
Failure, is a wonderful teacher!
  • #35,310
  • Apr 9, 2014 7:36pm Apr 9, 2014 7:36pm
NU reversed right before it closed. So no entry.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #35,311
  • Apr 9, 2014 7:45pm Apr 9, 2014 7:45pm
Quoting Direwolf
NU reversed right before it closed. So no entry. {image}
?? - You were going to short? On daily?
  • #35,312
  • Apr 9, 2014 8:19pm Apr 9, 2014 8:19pm
Hi Emmanuel.

For these 3 bar PCRF pattern, would you want until the close of 3rd candle before you enter? Or would a break of the first 2 a good entry point?
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #35,313
  • Apr 9, 2014 8:20pm Apr 9, 2014 8:20pm
@GiRL - yea, this was what I saw last night.
http://www.forexfactory.com/showthre...94#post7394094
Everything you can imagine, is real - Pablo Picasso
  • #35,314
  • Apr 9, 2014 8:24pm Apr 9, 2014 8:24pm
Quoting Direwolf
@GiRL - yea, this was what I saw last night. http://www.forexfactory.com/showthre...94#post7394094
Gotcha -- as the bar was forming
  • #35,315
  • Apr 9, 2014 8:35pm Apr 9, 2014 8:35pm
NZDCHF reversed while I was asleep. Other wise, the yellow area looks like a good zone to move SL to when price formed those tiny inside bar.

Still not a bad trade, +23 pips, a little over 1R
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-04-10_0833.png Size: 44 KB
Everything you can imagine, is real - Pablo Picasso
  • #35,316
  • Apr 9, 2014 8:37pm Apr 9, 2014 8:37pm
Decided to close yesterdays daily swimmers. They appeared to be tiring with stochastic nearing extremes . My trading plan is to only hold the trades for 24 hours

EU +77
GU +67
UC +58

My 4hr London trades where

AJ +6
CC -18
GJ +29

All up a great day shy of 220 pips less commission and a solid 10% to account

No day swimmers today so waiting expectantly for London 6am
  • #35,317
  • Apr 9, 2014 8:45pm Apr 9, 2014 8:45pm
That's a handful of pips GiRL!
Everything you can imagine, is real - Pablo Picasso
  • #35,318
  • Apr 9, 2014 8:45pm Apr 9, 2014 8:45pm
It seems the last few weeks that the Aussie cannot be broken. Just good news on more

Hindsight tells me I should have stayed in AJ, but on the ground here everybody was expecting the unemployment figures to rise, not decline by 3 basis points.
  • #35,319
  • Apr 9, 2014 8:46pm Apr 9, 2014 8:46pm
Quoting Direwolf
That's a handful of pips GiRL!
Just trying to master Page 1 and what Bizzzle is teaching me

Forgot and Emmanuel as he adds some of the finer points to help us be successful no matter what strategy we are following.
  • #35,320
  • Apr 9, 2014 8:52pm Apr 9, 2014 8:52pm
Quoting lastingwell
{quote} These are the ones I use: {file} {file}
HI Lastingwell,

Thanks for posting those indi's.

I have installed them an just getting 3 rows of blue bars on all timeframes. Please can you advise what settings I need to be using?

Thanks again,

Gavin
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