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Daily Chart 3-Candle

  • #861
  • Oct 23, 2018 10:33am Oct 23, 2018 10:33am
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 10:44am Oct 23, 2018 10:44am
Quoting simoneg
{quote} At the trigger line geosevilla.
about 1.31125???
  • #863
  • Oct 23, 2018 10:46am Oct 23, 2018 10:46am
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 11:10am Oct 23, 2018 11:10am
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 11:54am Oct 23, 2018 11:54am
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 12:20pm Oct 23, 2018 12:20pm
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 12:27pm Oct 23, 2018 12:27pm
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 12:51pm Oct 23, 2018 12:51pm
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 12:51pm Oct 23, 2018 12:51pm
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 12:56pm Oct 23, 2018 12:56pm
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 12:57pm Oct 23, 2018 12:57pm
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 12:58pm Oct 23, 2018 12:58pm
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 1:02pm Oct 23, 2018 1:02pm
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 1:04pm Oct 23, 2018 1:04pm
Quoting tony1200
{quote} on which TF? I don't see it!
So sorry, H4
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  • #875
  • Oct 23, 2018 1:05pm Oct 23, 2018 1:05pm
GJ at H4 Best Buy looking attractive.
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  • #876
  • Oct 23, 2018 1:21pm Oct 23, 2018 1:21pm
Quoting simoneg
{quote} So sorry, H4
http://prntscr.com/l9kmst
  • #877
  • Oct 23, 2018 1:31pm Oct 23, 2018 1:31pm
Quoting tony1200
{quote} http://prntscr.com/l9kmst
Please see chartshot below.
Attached Image
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  • #878
  • Oct 23, 2018 1:37pm Oct 23, 2018 1:37pm
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 3:23pm Oct 23, 2018 3:23pm
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 4:40pm Oct 23, 2018 4:40pm
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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