Attachments: Daily green/red candle

Daily green/red candle

#1,501
Jul 22, 2015 4:23pm Jul 22, 2015 4:23pm

fxtrader08
| Joined Oct 2009 | Status: Trader | 371 Posts

Sorry - I deleted my post as didnt want to interfere but I know your an expert on EURJPY hence my question.

I asked this:
Hey Dimdel - Not related to your system but I know you trade EURJPY on the daily. I though I saw a hammer candlestick signaling a trend reversal on 13th July which got rejected and then a doji on the 20th July signalling the trend reversal again. Is EUR about to blow upwards??? HMMM

Do you agree with my reading of the daily?

I think we're just in a pullback right now. I hope you can help me with my understanding of price action.

Price broke the Demark trend line so I think we'll actually see it go up to about 137.104. Where the green horizontal line is.

If we see that huge reversal candle on 13th....I think market will ignore the doji from yesterday and burst up......

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#1,502
Jul 22, 2015 4:38pm Jul 22, 2015 4:38pm

rccardoso
| Joined May 2015 | Status: Trader | 1 Post

Hi Dimdel. I am trying the Green/Red Daily System using 6 Pairs (USDJPY, GBPUSD, USDCAD, EURJPY, GBPJPY, EURUSD). I´m not using Trailing Stop and I hope to show some good results in a few weeks. I let you know.

#1,503
Jul 22, 2015 4:41pm Jul 22, 2015 4:41pm

dimdel
Joined Oct 2012 | Status: Trader | 2,561 Posts

i had this questions from a friend

[ Hey Dimdel - Not related to your system but I know you trade EURJPY on the daily. I though I saw a hammer candlestick signaling a trend reversal on 13th July which got rejected and then a doji on the 20th July signalling the trend reversal again. Is EUR about to blow upwards??? HMMM
Do you agree with my reading of the daily?
I think we're just in a pullback right now.
I hope you can help me with my understanding of price action. ]

well

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1] i dont know if the candles pattern work so good in big news
2] but work or not work i cant follow the patterns because the green red
3] maybe we are in pullback but i was long and the system gave me exit

maybe the pro trader follow the price action, you need big money for this , you must have many many room to breath, and SL> 300 -500 pips
and the daily TF is for scalping for big players

i cant and i dont know how to help for this trading style

but i would like read the opinions from others

thanks

#1,504
Jul 22, 2015 4:58pm Jul 22, 2015 4:58pm

dimdel
Joined Oct 2012 | Status: Trader | 2,561 Posts

my view withbout green red rules

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#1,505
Jul 22, 2015 5:44pm Jul 22, 2015 5:44pm

fxtrader08
| Joined Oct 2009 | Status: Trader | 371 Posts

Quoting dimdel

Disliked

my view withbout green red rules {image}

Ignored

Sorry for my ignorance but whats 100% lots and 50% lots?

Are you saying you expect price go down first then up?

I am seeing that price bounced of the trend line twice and hasn't broken yet so I think it may go up but I also see the bearish reversal signs which I think confirms a run up. I dont know! lol. Well lets see how my buy plays out.I got in at 135.449.

#1,506
Jul 22, 2015 6:00pm Jul 22, 2015 6:00pm

matheszabi
Joined Sep 2009 | Status: Trader | 1,027 Posts

Hi how is going this experiment?

I think this was the 3rd trade system, which I tested to be billionaire.

- the first it was the cross EMA.

A few suggestions:
- make some exceptions, when important news release are, because they will drive the market, not the previous day. Like NFP, Mario lies again, Greece, Irland , Spain whatever....
- there is a theory / trade system with pivot points. I wish to know those opinion about this system, who use the pivot point systems.

In my opinion:
- let be a calm day, without extra news.
- let be a few past day, when the Open and the Close difference it is at least 50% of the High and Close, so the day had a movement, not just range. Watch out: some EST brokers has different candles then the GMT based brokers!
- let be min - open almost the same distance then close - high. So it is a normal, healthy candle.
- If is a bull candle ( open < close ) then put a buy limit below the close a bit, but not at the top as your system says, because there it starts a resistance zone. Somewhere in the middle and the of the candle and the close price, lets say on the half distance.
- the TP should be a bit higher then the previous high, but not to long, because it is the resistance zone.
- the SL should be at the open price. Make sure the TP is at least as SL distance. -around 30-60 pip in EUR/USD case.

- This setup is a "day follower" , maybe is the 1h trend.
- I don't like the Hammer and such candles on this.
- If it was 3-6 healthy candle expect to come a Fibonacci retrenchment: so do exactly the reverse

- if yet another bull candle then sell - or stay out of market. Or put a sell limit above the top at the distance of the close: around 30-60 pip again

I couldn't filter out those cases in EA, when the market is moving on news.

Sometimes I trade in this way manually. But this isn't crystal clear and I always check the 4h / daily trend: at least 10 last candles from daily.

I found those counter trend entries must be babysitted: sometimes it is good, sometimes it is a News presure as it hits the SL instantly, so no reason to back test, if you can't filter out the news.

I want to buy PATIENCE

#1,507
Jul 23, 2015 12:09am Jul 23, 2015 12:09am

dimdel
Joined Oct 2012 | Status: Trader | 2,561 Posts

Quoting fxtrader08

Disliked

{quote} Sorry for my ignorance but whats 100% lots and 50% lots? Are you saying you expect price go down first then up? I am seeing that price bounced of the trend line twice and hasn't broken yet so I think it may go up but I also see the bearish reversal signs which I think confirms a run up. I dont know! lol. Well lets see how my buy plays out.I got in at 135.449.

Ignored

hi fxtrader

i mean, if i want risk 0,28 lot then i put pending orders
long 0.14 lot at 136,718 and o,14 lot at 138,816
short 0,28 lot at 132,877

#1,508
Jul 23, 2015 12:21am Jul 23, 2015 12:21am

dimdel
Joined Oct 2012 | Status: Trader | 2,561 Posts

Quoting matheszabi

Disliked

Hi how is going this experiment? I think this was the 3rd trade system, which I tested to be billionaire. - the first it was the cross EMA. A few suggestions: - make some exceptions, when important news release are, because they will drive the market, not the previous day. Like NFP, Mario lies again, Greece, Irland , Spain whatever.... - there is a theory / trade system with pivot points. I wish to know those opinion about this system, who use the pivot point systems. In my opinion: - let be a calm day, without extra news. - let be a few past...

Ignored

hi mathesbazi
for all these reason and more i dont use price actiom
i prefer to trade what i see and no to guess

#1,509
Edited 2:23am Jul 23, 2015 1:55am | Edited 2:23am

stevepatt
Joined Dec 2010 | Status: Never Stop Learning | 7,326 Posts

Quoting fxtrader08

Disliked

Sorry - I deleted my post as didnt want to interfere but I know your an expert on EURJPY hence my question. I asked this: Hey Dimdel - Not related to your system but I know you trade EURJPY on the daily. I though I saw a hammer candlestick signaling a trend reversal on 13th July which got rejected and then a doji on the 20th July signalling the trend reversal again. Is EUR about to blow upwards??? HMMM Do you agree with my reading of the daily? I think we're just in a pullback right now. I hope you can help me with my understanding of price action....

Ignored

Hi fxtrader;

To me EUR/JPY, if Trading Price Action, is Station Bound waiting for the next journey to begin North or South.

If Trading D1 look at W1 and MN to get an idea of the longer term Trend if there is one.

I like PA but it's hard to find a definitive way to enter a Trade.

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#1,510
Jul 23, 2015 4:31am Jul 23, 2015 4:31am

Raju
| Joined Aug 2007 | Status: Forex Trader | 51 Posts

Thank you for sharing your strategy dimdel.

I wanted to point out that an inside bar on D1 chart is more likely to get stopped out if one was to place trades according to what is mentioned in Post #1.
Therefore it might be worthwhile to exclude all considerations for any inside bars on D1 charts, in case it appears with a new color.

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Luck is what happens when preparation meets opportunity.

#1,511
Jul 23, 2015 6:09am Jul 23, 2015 6:09am

dimdel
Joined Oct 2012 | Status: Trader | 2,561 Posts

Quoting Raju

Disliked

Thank you for sharing your strategy dimdel. I wanted to point out that an inside bar on D1 chart is more likely to get stopped out if one was to place trades according to what is mentioned in Post #1. Therefore it might be worthwhile to exclude all considerations for any inside bars on D1 charts, in case it appears with a new color. {image}

Ignored

hi raju

maube you have right
but if i will add more filters to nsystem , then is too complicate for my age
i prefer nude, i mean chart

#1,512
Jul 23, 2015 2:20pm Jul 23, 2015 2:20pm

fxtrader08
| Joined Oct 2009 | Status: Trader | 371 Posts

Quoting stevepatt

Disliked

{quote} Hi fxtrader; To me EUR/JPY, if Trading Price Action, is Station Bound waiting for the next journey to begin North or South. If Trading D1 look at W1 and MN to get an idea of the longer term Trend if there is one. I like PA but it's hard to find a definitive way to enter a Trade. {image}

Ignored

I tried to gage where price would go today. I'll start to try and incorporate higher TFs into my analysis. Thanks for the advice.

Out with profit thankfully.

#1,513
Jul 23, 2015 2:32pm Jul 23, 2015 2:32pm

dimdel
Joined Oct 2012 | Status: Trader | 2,561 Posts

if nothing cgange till 12,00 my time [ +2]

i have 7 pairs green red

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i have 2 pairs best close

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#1,514
Jul 24, 2015 12:08am Jul 24, 2015 12:08am

dimdel
Joined Oct 2012 | Status: Trader | 2,561 Posts

maybe i must stop post
till thread will be alive
thanks all

#1,515
Jul 24, 2015 6:04am Jul 24, 2015 6:04am

Plague
| Joined Jul 2015 | Status: Trader | 144 Posts

I for one am still watching the thread, it is not dead. But you have deleted your statistics so I cannot see how the system goes now.

#1,516
Jul 24, 2015 9:02am Jul 24, 2015 9:02am

tomthepoppop
| Joined May 2011 | Status: It's a GREAT life | 495 Posts

Dimdel - One thing I do not understand. On Best Close do you go in direction of HA candle or in direction of previous candle close? Anyone?

#1,517
Jul 24, 2015 7:37pm Jul 24, 2015 7:37pm

Raju
| Joined Aug 2007 | Status: Forex Trader | 51 Posts

Quoting tomthepoppop

Disliked

Dimdel - One thing I do not understand. On Best Close do you go in direction of HA candle or in direction of previous candle close? Anyone?

Ignored

Hi tomthepoppop:

On the Best Close Method, the trade is placed in the direction of HA candle color and the HA histogram color, when both of these colors are the same. For a long entry the D1 candle that has just completed has to have its close 'below' its open when both Daily HA candle color and Monthly HA histogram color are green. For a short entry the D1 candle that has just completed has to have its close 'above' its open when both Daily HA candle color and Monthly HA histogram color are red.

Luck is what happens when preparation meets opportunity.

#1,518
Jul 24, 2015 8:17pm Jul 24, 2015 8:17pm

tomthepoppop
| Joined May 2011 | Status: It's a GREAT life | 495 Posts

Quoting Raju

Disliked

{quote} Hi tomthepoppop: On the Best Close Method, the trade is placed in the direction of HA candle color and the HA histogram color, when both of these colors are the same. For a long entry the D1 candle that has just completed has to have its close 'below' its open when both Daily HA candle color and Monthly HA histogram color are green. For a short entry the D1 candle that has just completed has to have its close 'above' its open when both Daily HA candle color and Monthly HA histogram color are red.

Ignored

Thanks for explanation.