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Quad Candle System

  • #81
  • Jun 1, 2017 5:10pm Jun 1, 2017 5:10pm
I took the nzdusd short at 0.7066 right after trump's speech.
Let's sée what will happen...
  • #82
  • Jun 1, 2017 7:41pm Jun 1, 2017 7:41pm
Quoting Masterrmind
{quote} CHFJPY Take note that the current Quad Pattern is setting up for a long after the previous Quad pattern was for a short. But we "perhaps" have a bias to the downside. At what level would a great entry occur? Is it likely that price will hit this target? Entry usually occurs after the close of the 4th candle ... so when does this occur? What day will it end on ? Do I like opening D1 positions on a Friday? What about other traders? ps. answers to follow after a few minutes unless someone has ago at answering them ... not difficult. Masterrmind...............
The closer price gets to the +2/8 MML the better.

Also in confluence with chart structure, key resistance.

Yes it is likely that price will hit this level because the bulls have pushed price up to this same zone on multiple occasions so it is likely to occur again.

Will it though? Time will tell so lets see.

Looking at a Quad Setup on a D1 Chart closer to the end of the week or anytime in general can tell you how many days in advance a setup is likely to unfold so you can plan a little in advance. Simply have to look at the recent D1 candles, what color are they, if the current candle closes red what will this imply and what if its blue what then.

Usually I do not like D1 entries on a Friday because of possible weekend gaps.. check the economic calendar and see what news is listed to come out over the weekend...make a risk assessment...then trader makes the choice to take the trade or not take the trade.

I probably would not but it depends on the setup.

Masterrmind.......
Master your Mind then Master your Trades
  • #83
  • Jun 2, 2017 2:26am Jun 2, 2017 2:26am
CHFJPY D1 update

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 37 KB


Price continues to push up closer to our Quad Zone of Engagement (QZE).

While this setup is playing out start searching for other potential setups.

The process requires a lot of patience!

When a potential setup is meeting our expectations it makes it all the more sweeter.

But even so this never can guarantee a successful outcome.

We trade with the probability on our side by getting as much confluence as possible and then we still need to manage the risk all the while building our case for an entry.

Important: Current Quad Candle Pattern has suggested taking a long which would be about 50 pips in the money at this time.

Quaestion: Why then (if I had of seen the setup) would I have not been thinking about going long?

Masterrmind...........
Master your Mind then Master your Trades
  • #84
  • Jun 2, 2017 2:50am Jun 2, 2017 2:50am
Thanks for your insights Masterrmind !

Also I noticed that pairs correlation can be important.
For example, USDCHF is near a big support and we could get a buy quad signal today. So CHFJPY could move at the same time.
Do you use this in your analysis too?
  • #85
  • Jun 2, 2017 3:24am Jun 2, 2017 3:24am
Quoting damiend
Thanks for your insights Masterrmind ! Also I noticed that pairs correlation can be important. For example, USDCHF is near a big support and we could get a buy quad signal today. So CHFJPY could move at the same time. Do you use this in your analysis too?
Yes indeed!

Pair correlation can be a very useful tool if applied correctly.

In Post #1 I have mentioned correlation but have not yet expanded upon its use in this trading method.

This week has been one of the busiest I have had for quite some time so I do apologise for being a little behind in the posting of information to this thread.

Do not fear though as I will soon catch up.

I like to be organised, systematic and explain concepts as clearly as possible but being so busy this week has meant 'rushed' responses.

But all will be up to date very soon and make a whole lot more sense (I hope).

Good insights from you, you are thinking along the right path.

ps. If trading the crosses be sure to check what is happening in the PA and the fundamentals on the related major pairs (always consider USD).

pps. By always considering USD I do not suggest that it always be traded (not at all) but it should be considered (strong, weak, risk on/off etc).

ppps. For risk on/off market sentiment start looking at USD, JPY and Gold and Silver setups as an example.

pppps. From a fundamental side try to form a bias on the direction of several currencies (form a currency expectation: Up, Down, neutral then look at the major pairs and then the crosses depending on which instrument you are trading.

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #86
  • Jun 2, 2017 3:37am Jun 2, 2017 3:37am
Quoting damiend
Thanks for this thread ! I'm trying to use this method since I saw a video from Paul Langham. I find it very useful because it adds something important to my trading: patience. Attached is a nice GBPNZD trade I took a few days ago. Apart from the V formation, I decided to take it because: there was some room for a sell it was at an important resistance level the global weekly trend is down I already took some partial profits and let it run for some more {image}
Update to the Pair we both traded although I got out banking a few pips, but now having another think ?
ps all my charts will be based on 64
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURNZDSBDaily.png Size: 63 KB
Click to Enlarge Name: EURNZDSBH1.png Size: 67 KB
  • #87
  • Jun 2, 2017 3:46am Jun 2, 2017 3:46am
Related to CHFJPY

USDCHF
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 32 KB


USDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 27 KB


Think about the chart structure for each pairs potential Quad setup.
Think about the risk on/off scenario.

Masterrmind.............
Master your Mind then Master your Trades
  • #88
  • Edited 4:06am Jun 2, 2017 3:53am | Edited 4:06am
Quoting Masterrmind
Print to the chart the pip gap for a given setting of the MML indicator
Attached File(s)
File Type: mq4 Murrey_Math1.L.mq4   28 KB | 920 downloads
Attached File(s)
File Type: ex4 Murrey_Math1.L.ex4   27 KB | 724 downloads
  • #89
  • Jun 2, 2017 4:12am Jun 2, 2017 4:12am
Quoting Lowphat
{quote} {file}{file}
Lowphat,
Think its very positive that you are on the thread and posting downloads for indicators and I for one thank you but I am always reluctant to download anything without seeing a screenshot of it first and the thought of how it could enhance the work Mastermind is doing
  • #90
  • Jun 2, 2017 4:23am Jun 2, 2017 4:23am
Price continues to push up closer to our Quad Zone of Engagement (QZE).

While this setup is playing out start searching for other potential setups.

The process requires a lot of patience!

When a potential setup is meeting our expectations it makes it all the more sweeter.

But even so this never can guarantee a successful outcome.

We trade with the probability on our side by getting as much confluence as possible and then we still need to manage the risk all the while building our case for an entry.



not sure I understand as a newbie, I thought you said trade away from +1/8 p and +2/8 p lines,on the CHF/JPY chart price has broken through the +1/8 p line and heading towards the +2/8 p lone shouldn't you be waiting for a reserval and then go short? sorry for the awkward question..
  • #91
  • Jun 2, 2017 4:24am Jun 2, 2017 4:24am
Quoting Lowphat
{quote} {file}{file}
Octave Gap added.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB


Bravo!

Nice work!

ps. Thank you again for your contribution.

Masterrmind...........
Master your Mind then Master your Trades
  • #92
  • Jun 2, 2017 4:35am Jun 2, 2017 4:35am
Quoting nozzer
Price continues to push up closer to our Quad Zone of Engagement (QZE). While this setup is playing out start searching for other potential setups. The process requires a lot of patience! When a potential setup is meeting our expectations it makes it all the more sweeter. But even so this never can guarantee a successful outcome. We trade with the probability on our side by getting as much confluence as possible and then we still need to manage the risk all the while building our case for an entry. not sure I understand as a newbie, I thought you...
Yes we are waiting for a potential reversal to occur and then trade this pair to the downside.

Note that many times there may be a conflict going on meaning that the current or currently forming Quad Pattern is against our global bias.

In simple terms, it means that although we want to eventually look for a short in this pair the current Quad Pattern is suggesting long.

So we need to align eveything in the setup to meet with our expectation (expectation is simply our own view of where this pair should go either long, short or neutral).

Confluence is when we have the Quad pattern setting up for a short, price is close to and stalling near the +1/8 or +2/8 MML (or other key MMLs), price is attempting to reverse off longer term resistance zone, price is just under a major price level called a handle such as 115.000 = the 115 handle on CHFJPY and then harmonic and also Fib levels (popular reversal ratios such as 61.8, 78.6 and 88.6 or exhaustion Fib ratios 127.2 and 161.8.

I will post up a chart later to explain this all on a chart it will make it clear.

Masterrmind...........
Master your Mind then Master your Trades
  • #93
  • Jun 2, 2017 4:40am Jun 2, 2017 4:40am
thank you for opening this thread Mastermind , much appreciated
  • #94
  • Jun 2, 2017 4:51am Jun 2, 2017 4:51am
Quoting damiend
I took the nzdusd short at 0.7066 right after trump's speech. Let's se what will happen...
Hi
I do not see any quad candle pattern for this pair, maybe you are not on NY close daily chart.
Regards
  • #95
  • Jun 2, 2017 4:55am Jun 2, 2017 4:55am
Here you go.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB


If anytjing is unclear please ask.

Masterrmind...........
Master your Mind then Master your Trades
  • #96
  • Jun 2, 2017 4:57am Jun 2, 2017 4:57am
Quoting nozzer
thank you for opening this thread Mastermind , much appreciated
My pleasure.

But OAPDave is responsible for getting me to carry it on so thanks to him too.

Masterrmind...........
Master your Mind then Master your Trades
  • #97
  • Jun 2, 2017 5:03am Jun 2, 2017 5:03am
Ok Guys and Girls

There are a few concepts to understand that I have just posted in the chart above.

There is also the MML material to get accustomed too.

There is also the Quad Pattern material to get used too.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Given enough free time over this weekend I will post to Post#1 additional information for learning purposes.

If you want to learn how to trade this method best you understand all the material at a reasonably deep level.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Don't worry if you get a little lost, please ask questions or PM me and you will be on track in no time (hopefully).

Eventually you will see the light at the end of the tunnel in terms of understanding the content.

Then you will need to apply the new found knowledge, learn to control risk and manage any open position in the market.

Market awareness is a very important trader attribute.

Risk management is what you will hear me mention time and time again so get used to hearing it.

Masterrmind............
Master your Mind then Master your Trades
  • #98
  • Jun 2, 2017 5:23am Jun 2, 2017 5:23am
Quoting howard
{quote} Hi I do not see any quad candle pattern for this pair, maybe you are not on NY close daily chart.
Yes you are right, I guess it's a broker time difference issue
Here is the screenshot of my chart:
Attached Image (click to enlarge)
Click to Enlarge Name: trade_nzdusd.jpg Size: 216 KB
  • #99
  • Jun 2, 2017 5:31am Jun 2, 2017 5:31am
Quoting OAPDave
{quote} Update to the Pair we both traded although I got out banking a few pips, but now having another think ? ps all my charts will be based on 64 {image} {image}
I was in EURNZD and GBPNZD and I think there is still some room for a short trade. But I closed these trade to lock the profits already, and I will wait for a new signal/confirmation to open again.
  • #100
  • Jun 2, 2017 5:35am Jun 2, 2017 5:35am
Quoting Masterrmind
{quote} Yes we are waiting for a potential reversal to occur and then trade this pair to the downside. Note that many times there may be a conflict going on meaning that the current or currently forming Quad Pattern is against our global bias. In simple terms, it means that although we want to eventually look for a short in this pair the current Quad Pattern is suggesting long. So we need to align eveything in the setup to meet with our expectation (expectation is simply our own view of where this pair should go either long, short or neutral). Confluence...
Wrong!

popular reversal ratios such as 61.8, 78.6 and 88.6

Sorry should read as follows:

popular pullback ratios such as 61.8, 78.6 and 88.6

Apologies,

Masterrmind.............
Master your Mind then Master your Trades
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