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Simple "Make Pips" Strategy

  • #81
  • Nov 13, 2014 6:25am Nov 13, 2014 6:25am
Quoting mario777
{quote} simoneg, i have also difficulty understanding what you mean the SECOND closes WITH a LOWER CLOSE PRICE. I think if there is 2 bearish bars, the second bar's close is always lower than the 1st bar. If not, then its not a bearish bar. Am i right?

No it is in relationship to the open of the same bar close higher it is an upbar close lower then it is open it is a downbar.

Best regards
  • #82
  • Nov 13, 2014 6:38am Nov 13, 2014 6:38am
Quoting mario777
{quote} simoneg, i have also difficulty understanding what you mean the SECOND closes WITH a LOWER CLOSE PRICE. I think if there is 2 bearish bars, the second bar's close is always lower than the 1st bar. If not, then its not a bearish bar. Am i right?

Hi mario777,

I answered this question twice before, but please note "you may have instances where there are "gaps" showing two consecutive bearish bar without the second closing lower".
So please ensure that the bars are both bearish and have lower close prices as stated.
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  • #83
  • Nov 13, 2014 6:48am Nov 13, 2014 6:48am
Long EURJPY H4 Bullish Setup. Also Short setup in this area rejected at the moment, and trend has been up on higher timeframes. At the same time I'm watching the resistance 144.21 where a bullish setup was rejected.
Attached Image (click to enlarge)
Click to Enlarge Name: EJTRADE.png Size: 20 KB
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  • #84
  • Nov 13, 2014 7:54am Nov 13, 2014 7:54am
Quoting simoneg
{quote} Hi mikeh3855, The 2 blue bars was the first thing that I saw. What made it easier to take the trade was that the trend was up on the higher times. I don't look for a particular type of bar. Just two consecutive bullish or bearish, that's all. If you look at the principle behind the system you will be able to spot very strong moves for entry. Two consecutive closes in the same direction is very significant. The midpoint between those creates very strong s&r.

Two consecutive bearish bars will generally mean continued selling when the close...

Mario777, here's a good explanation for your question about the close prices comment.
  • #85
  • Nov 13, 2014 8:10am Nov 13, 2014 8:10am
Caught a quick pop upwards on USDCAD on the H1 chart.

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad1311.png Size: 14 KB


Was stopped on gbpjpy earlier - all small stakes.
  • #86
  • Nov 13, 2014 8:51am Nov 13, 2014 8:51am
Quoting simoneg
I just took this long trade on the GJ since posting this chart. Will see how it works out. Already up 20pips. Its two setups here, rejected sell setup and a new buy setup almost at the same price. {image}
GJ still at daily chart buy setup zone 181.95.
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  • #87
  • Nov 13, 2014 11:49am Nov 13, 2014 11:49am
I try this with a limit order before enter.

on hourly chart
For long, i set close price - 7.5 pips before enter.
For Short, same but positif.

I also use +15pips TP and -30pips SL

On EUR_USD, i get near 75% succes !
  • #88
  • Nov 13, 2014 12:27pm Nov 13, 2014 12:27pm
That pattern again on AU. Once the 2 candle signal appears jump in to follow price down to complete full retrace -

Attached Image (click to enlarge)
Click to Enlarge Name: audusd1311.png Size: 17 KB


I don't much else to say here, Simoneg. Thanks for this incredibly easy system - I'll wile away the London hours trading this one.

Cheers, Sandro
  • #89
  • Nov 13, 2014 3:31pm Nov 13, 2014 3:31pm
From looking at several currency pairs it appears these patterns can be seen
on all time frames, but how well they can be traded on these lower time frames
is the question. Has anyone taken a look at these patterns on lower time frames?

If someone with coding skills would code an indicator to mark these patterns it
would be most helpful. Thank you for all views, comments & anyone willing to
code an indicator.

_____________________________
  • #90
  • Nov 13, 2014 6:15pm Nov 13, 2014 6:15pm
Quoting ForexSamsam
I try this with a limit order before enter. on hourly chart For long, i set close price - 7.5 pips before enter. For Short, same but positif. I also use +15pips TP and -30pips SL On EUR_USD, i get near 75% succes !
Sounds great ForexSamSam! Care to share and address acetrader's request?
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  • #91
  • Nov 13, 2014 6:16pm Nov 13, 2014 6:16pm
Quoting S_Ferrer
That pattern again on AU. Once the 2 candle signal appears jump in to follow price down to complete full retrace - {image} I don't much else to say here, Simoneg. Thanks for this incredibly easy system - I'll wile away the London hours trading this one. Cheers, Sandro
Keep it going S_Ferrer!
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  • #92
  • Nov 13, 2014 6:17pm Nov 13, 2014 6:17pm
Long EJ on H4 setup as at last bar close.
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  • #93
  • Nov 13, 2014 6:30pm Nov 13, 2014 6:30pm
Quoting simoneg
Long EJ on H4 setup as at last bar close.
booked and out. Safe trading all.
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  • #94
  • Nov 13, 2014 6:34pm Nov 13, 2014 6:34pm
It looks like this on my chart.

Best regards
Attached Image (click to enlarge)
Click to Enlarge Name: pic112.png Size: 272 KB
  • #95
  • Nov 13, 2014 6:37pm Nov 13, 2014 6:37pm
Quoting jgadefelth
It looks like this on my chart. Best regards {image}
We've got two different pictures here jgadefelth!
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  • #96
  • Nov 13, 2014 6:42pm Nov 13, 2014 6:42pm
Quoting simoneg
{quote} We've got two different pictures here jgadefelth!

Can you post yours please different brokertime or something.

Best regards
  • #97
  • Nov 13, 2014 6:45pm Nov 13, 2014 6:45pm
Quoting jgadefelth
{quote} Can you post yours please different brokertime or something. Best regards
Here's my chart...
Attached Image (click to enlarge)
Click to Enlarge Name: ej.png Size: 16 KB
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  • #98
  • Nov 13, 2014 6:57pm Nov 13, 2014 6:57pm
Quoting simoneg
{quote} Here's my chart... {image}

Thanks Yes a little different. You dont se the other top as resistance and possibly a chans of dubble top ? Maybe i think to mutch and make it more complicated then it really is

Best regards
  • #99
  • Nov 13, 2014 6:59pm Nov 13, 2014 6:59pm
Quoting jgadefelth
{quote} Thanks Yes a little different. You dont se the other top as resistance and possibly a chans of dubble top ? Maybe i think to mutch and make it more complicated then it really is Best regards
Yes I'm careful of that 145 on this Friday bar. Cant ignore that.
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  • #100
  • Jan 21, 2015 9:31am Jan 21, 2015 9:31am
A Happy New Year to everyone! Hope you all got wealthy off the swissy trade and are now trading at leisure . Will be posting some of my H4 trades here.
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