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Daily Chart 3-Candle

  • #861
  • Oct 23, 2018 8:33am Oct 23, 2018 8:33am
Quoting geosevilla
{quote} But if that candle closes like this, what should your entry point be?

At the trigger line geosevilla.
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  • #862
  • Oct 23, 2018 8:44am Oct 23, 2018 8:44am
Quoting simoneg
{quote} At the trigger line geosevilla.
about 1.31125???
  • #863
  • Oct 23, 2018 8:46am Oct 23, 2018 8:46am
Quoting geosevilla
{quote} about 1.31125???
Around 1.3096. Allow for close and confirmation of the setup though.
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  • #864
  • Oct 23, 2018 9:10am Oct 23, 2018 9:10am
Quoting simoneg
{quote} Around 1.3096. Allow for close and confirmation of the setup though.
ok i finally understand it, ufff and you SL around 1.31224, right? I mean, at the end of the candle? or at the end of the body? (around 1.31122)



By the way, one last thing, it's a sell, right?
  • #865
  • Oct 23, 2018 9:54am Oct 23, 2018 9:54am
Quoting geosevilla
{quote} ok i finally understand it, ufff and you SL around 1.31224, right? I mean, at the end of the candle? or at the end of the body? (around 1.31122) By the way, one last thing, it's a sell, right?

Sorry geosevilla, just saw your message. Yes its a short. Stop is above the SwingCandle. TP @ 1.2980
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  • #866
  • Oct 23, 2018 10:20am Oct 23, 2018 10:20am
Hello all,

Trying to learn this reversal pattern. Please, the screenshot. Is this an excellent setup? Curious, whether it is possible to foresee the rebound. Fib levels, previous High, something else?

Thank you for your input!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 265 KB
Buy low, sell high.
  • #867
  • Oct 23, 2018 10:27am Oct 23, 2018 10:27am
Quoting HappyMan
Hello all, Trying to learn this reversal pattern. Please, the screenshot. Is this an excellent setup? Curious, whether it is possible to foresee the rebound. Fib levels, previous High, something else? Thank you for your input! {image}
Hi HappyMan,

This is not the SwingCandle setup that we trade. Please look at the ideal setups in Post#1.
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  • #868
  • Oct 23, 2018 10:51am Oct 23, 2018 10:51am
Quoting simoneg
{quote} Sorry geosevilla, just saw your message. Yes its a short. Stop is above the SwingCandle. TP @ 1.2980
I gotta ask you.....how do you come up with the TP of 1.2980????

thanks!
  • #869
  • Oct 23, 2018 10:51am Oct 23, 2018 10:51am
Quoting simoneg
{quote} Hi HappyMan, This is not the SwingCandle setup that we trade. Please look at the ideal setups in Post#1.
Hi simoneg,

Nice thread you got going. Not many dare explain a reversal, those who do are not this concise.

Appreciate the reply. What am I missing? I've read the first several times over the last few days. Is this a different setup?

Let's go point by point.

ideal BUY SCENARIO#1

1. Market is trending downwards (at least for 3 days). Downtrend - Creating lower highs and lower lows
Check.

2. The LAST BAR (BAR#3) closes with two bars having higher lows on its LEFT
Check.

3. BAR#3 closes ABOVE the CLOSE PRICE OF BAR#1 (if BAR#1 has a BEARISH BODY) OR above the OPEN PRICE OF BAR#1 (if BAR#1 has a BULLISH BODY).
Check. As on the graph.

4. Open a BUY TRADE OR BUY LIMIT at BAR#1's OPEN (if BAR#1 has a bullish body) or at the CLOSE (if BAR#1 has a BEARISH BODY)
Check.

Thank you for your help!
Buy low, sell high.
  • #870
  • Oct 23, 2018 10:56am Oct 23, 2018 10:56am
Quoting tony1200
{quote} I gotta ask you.....how do you come up with the TP of 1.2980???? thanks!
It's the best buy level at the bottom of the swing Tony.
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  • #871
  • Oct 23, 2018 10:57am Oct 23, 2018 10:57am
Quoting HappyMan
{quote} Hi simoneg, Nice thread you got going. Not many dare explain a reversal, those who do are not this concise. Appreciate the reply. What am I missing? I've read the first several times over the last few days. Is this a different setup? Let's go point by point. ideal BUY SCENARIO#1 1. Market is trending downwards (at least for 3 days). Downtrend - Creating lower highs and lower lows Check. 2. The LAST BAR (BAR#3) closes with two bars having higher lows on its LEFT Check. 3. BAR#3 closes ABOVE the CLOSE PRICE OF BAR#1 (if BAR#1 has a BEARISH...

Thank you HappyMan!
And most importantly Bar#3 has the highest High (in Bearish setups) or Lowest Low (in Bullish Setups)
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  • #872
  • Oct 23, 2018 10:58am Oct 23, 2018 10:58am
Quoting HappyMan
{quote} Hi simoneg, Nice thread you got going. Not many dare explain a reversal, those who do are not this concise. Appreciate the reply. What am I missing? I've read the first several times over the last few days. Is this a different setup? Let's go point by point. ideal BUY SCENARIO#1 1. Market is trending downwards (at least for 3 days). Downtrend - Creating lower highs and lower lows Check. 2. The LAST BAR (BAR#3) closes with two bars having higher lows on its LEFT Check. 3. BAR#3 closes ABOVE the CLOSE PRICE OF BAR#1 (if BAR#1 has a BEARISH...
bar 3 doesn't close above bar 1 close
  • #873
  • Oct 23, 2018 11:02am Oct 23, 2018 11:02am
Quoting simoneg
{quote} It's the best buy level at the bottom of the swing Tony.
on which TF? I don't see it!
  • #874
  • Oct 23, 2018 11:04am Oct 23, 2018 11:04am
Quoting tony1200
{quote} on which TF? I don't see it!
So sorry, H4
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  • #875
  • Oct 23, 2018 11:05am Oct 23, 2018 11:05am
GJ at H4 Best Buy looking attractive.
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  • #876
  • Oct 23, 2018 11:21am Oct 23, 2018 11:21am
Quoting simoneg
{quote} So sorry, H4
http://prntscr.com/l9kmst
  • #877
  • Oct 23, 2018 11:31am Oct 23, 2018 11:31am
Quoting tony1200
{quote} http://prntscr.com/l9kmst
Please see chartshot below.
Attached Image
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  • #878
  • Oct 23, 2018 11:37am Oct 23, 2018 11:37am
Quoting simoneg
{quote} Please see chartshot below. {image}
ok,,,,still have to figure out the concept on TPs ,,,gonna learn it tho...just need some time!!!!! back to studying the charts!

thanks
  • #879
  • Oct 23, 2018 1:23pm Oct 23, 2018 1:23pm
backtest,,,,,
http://prntscr.com/l9m2ny

nice profit ….risk/reward 6.5 to 1
http://prntscr.com/l9m4qu

its really nice to see someone share their wisdom with total strangers,,,,makes me think their are still good people around!

thanks again!
  • #880
  • Oct 23, 2018 2:40pm Oct 23, 2018 2:40pm
New Version "sm3Candle BestLevelsHist_v3.1"

Quoting simoneg
... can I show the Uppertimeframe-HistoryLevels without showing the UppertimeFrame-BestLevels?
I hope it works now.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily-Upper-Levels.png Size: 34 KB
Attached Image
Attached File(s)
File Type: ex4 sm3Candle BestLevelsHist_v3.1.ex4   51 KB | 638 downloads
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