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Daily Chart 3-Candle

  • #1,141
  • Jan 21, 2019 4:46am Jan 21, 2019 4:46am
Quoting loudoniii
{quote} That's cool, birdland - sounds like you use the system pretty much the same as I do. The H4 charts are my bread and butter charts, trading off H4 setups within the general framework of the D1, W1 and MN S+R levels. The 3-bar Swing Low / Swing High reversals are really reliable entry triggers, I find. However, I note that the SwingPoints indicator does NOT indicate the correct entry levels. For example, the system rules says that for a SELL entry, the correct entry point is: 1. Bar 1's OPEN, if Bar 1 has a BEARISH body. 2. Bar 1's CLOSE,...
that might be the case, but i dont use them for my entry trigger.
the last time i used them-it was a few months ago-they did work well like simone described it.
so i am happy with the bestbuy/sell levels (or call them S&R) and use them only.
trading is like dancing, don't think and just listen to the music!
  • #1,142
  • Edited 6:43am Jan 21, 2019 4:49am | Edited 6:43am
Quoting SwingMan
Hi @birdland and @loudoniii, if you have time, you can test an indicator, maybe that helps … The fractals are drawn in Level 1 for 1 bar left and 1 bar right (=> Neptune's Trident … ) Then Level 2 for the position of the fractals for Level 1 (1 fractal left / 1 fractal right), and then Level 3 for the position of the fractals for Level 2. (I'm not doing any further description here, you can find more in Lindsay's Trident-book, or later in a thread from me). At the second bar after the fractal or for break out of the trendlines, you can...
thanks SwingMan,
if i have the time i will check the thread from lindsay and test the indicator,
thx.
trading is like dancing, don't think and just listen to the music!
  • #1,143
  • Jan 21, 2019 6:28am Jan 21, 2019 6:28am
Quoting SwingMan
Hi @birdland and @loudoniii, if you have time, you can test an indicator, maybe that helps … The fractals are drawn in Level 1 for 1 bar left and 1 bar right (=> Neptune's Trident … ) Then Level 2 for the position of the fractals for Level 1 (1 fractal left / 1 fractal right), and then Level 3 for the position of the fractals for Level 2. (I'm not doing any further description here, you can find more in Lindsay's Trident-book, or later in a thread from me). At the second bar after the fractal or for break out of the trendlines, you can...
Hi SwingMan

Thanks for the opportunity to try out your new Neptune's Trident indicator ... I shall be happy to do so.

I'm not familiar with Neptune's Trident, so I will go and research it now.

Will give you feedback once I've had a chance to try it.

Thanks again for all your fantastic support to this thread!
  • #1,144
  • Jan 21, 2019 8:30am Jan 21, 2019 8:30am
From post #1

BUY SCENARIO#1
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).

so the sm3Candle SwingPoints v1 is correct. v3.2 had it the reverse way.
same for sell scenario.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,145
  • Jan 21, 2019 10:25am Jan 21, 2019 10:25am
Quoting Inthebox
From post #1 BUY SCENARIO#1 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). so the sm3Candle SwingPoints v1 is correct. v3.2 had it the reverse way. same for sell scenario. {image}
Brilliant, Inthebox! I’m off to try to find v3.1 of SwingPoints!!!
  • #1,146
  • Jan 21, 2019 2:19pm Jan 21, 2019 2:19pm
Quoting loudoniii
{quote} Hi candyman752 I am very interested to hear that you have coded up some bots using the 3 bar swing concept ... I'd be keen to hear more about these if you are OK to share? I find simoneg's Daily Chart 3-Candle system gives very reliable entry signals from the 3-bar swing rules, and trade it on a manual basis at the moment. If there was a way of at least partially automating that using an EA, that would be very interesting. Best wishes, loudoniii
I am currently testing it. Started in November last year. The test is appearing on my profile as trade explorer called bar 3 swinger.
The concept is solid so far.
Basically I just read through the thread and then tried to code the way simoneg said she trades it
  • #1,147
  • Jan 23, 2019 12:39pm Jan 23, 2019 12:39pm
Quoting SwingMan
Hi @birdland and @loudoniii, if you have time, you can test an indicator, maybe that helps … The fractals are drawn in Level 1 for 1 bar left and 1 bar right (=> Neptune's Trident … ) Then Level 2 for the position of the fractals for Level 1 (1 fractal left / 1 fractal right), and then Level 3 for the position of the fractals for Level 2. (I'm not doing any further description here, you can find more in Lindsay's Trident-book, or later in a thread from me). At the second bar after the fractal or for break out of the trendlines, you can...
Your indicator for Trident Trident looks really interesting, SwingMan!

I'm finding it very difficult indeed to find out any information on Charles L Lindsay's "Trident Trading" approach online.

I have found one UK supplier of his classic book on the subject, so have ordered it today.

I'm also experimenting with your SwingPoints V1 indicator on the same charts as your Trident Trading indicator, and find that the SwingPoint indicator often seems to indicate a new Long entry level at Point C (= P3?) within the ABCD (P1-P2-P3-P4?) pattern.

In other words, the Swing Low / Swing High analysis of simoneg's Daily Chart 3-Candle system seem to be consistent with the principles of Trident Trading.

I hope to understand more about Trident Trading once i've had a chance to study Lindsay's book. If you are planning to host a forum or do some other online writing on Trident, I'd be very interested to participate in the forum.

Thanks again for all your positive ideas, and supporting indicators.
  • #1,148
  • Feb 20, 2019 3:49am Feb 20, 2019 3:49am
Hello every body!
I just learned about the daily chart 3 candle, looking forward to sharing with you about the best entry points of this method to get the best profit.
Thank you very murch!
  • #1,149
  • Mar 1, 2019 6:42am Mar 1, 2019 6:42am
Nice Long opportunity earlier this morning UK time on the Aussie (AUD/USD), based on a Daily BUY trigger at 0.70872.

I got in there with only minimal drawdown, and now have +30.2 PIPs in the bank so far, still going.

I locked in a couple of PIPs, so it is a free trade now.

Let's see what this afternoon brings.

By the way, in my current chart mark-up, I am using only the BUY and SELL triggers from the system, on Monthly, Weekly, Daily levels normally, with the occasional 12-Hour or 4-Hour trigger to finesse entry sometimes.

Works very well .. nice clean charts, very clear entry points and Stop Loss levels.

Thanks yet again, Simone, for sharing this great system with us all!
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  • #1,150
  • Mar 1, 2019 9:55am Mar 1, 2019 9:55am
Quoting loudoniii
Nice Long opportunity earlier this morning UK time on the Aussie (AUD/USD), based on a Daily BUY trigger at 0.70872. I got in there with only minimal drawdown, and now have +30.2 PIPs in the bank so far, still going. I locked in a couple of PIPs, so it is a free trade now. Let's see what this afternoon brings. By the way, in my current chart mark-up, I am using only the BUY and SELL triggers from the system, on Monthly, Weekly, Daily levels normally, with the occasional 12-Hour or 4-Hour trigger to finesse entry sometimes. Works very well .. nice...
Which indicator are you using with the levels
  • #1,151
  • Edited 11:04am Mar 1, 2019 10:32am | Edited 11:04am
Quoting Lando12
{quote} Which indicator are you using with the levels
I use no indicators - this is pure Price Action trading, in line with Simone's rules

i just manually mark up my charts in Metatrader 5 (MT5) , using all the principles of Simone's trading system here on Daily Chart 3-Candle.

I use the MT5 Fibo tool to mark up each level, as it allows me to annotate each level. This is nothing to do with normal Fibonacci, I'm just using the MT5 Fibo tool as a drawing tool, to mark up the various BUY and SELL trigger levels, as explained in the 1st Post in this thread.

Let me make it quite clear - I am using only Simone's BUY and SELL trigger level rules.

I am not using the Best BUY and Best SELL levels, as I find they just make my charts too busy, and more difficult to read. I am not using SwingMan's indicator either, for the same reason.

I find that if I simply use the BUY and SELL trigger levels, they show the exact best entry levels, and associated Stop Loss levels a few PIPs away from the nearest Swing Low for Long trades, or Swing High for Short trades.

A great example of this today, is the H4 No 1 BUY trade trigger level on the Loonie (USD/CAD) - this was worth over 130 PIPs for a Stop Loss of only 25 PIPs or so!

See attached picture of today's action on the Loonie (USD/CAD).

See also attached picture of how I use the MT5 Fibonnaci drawing tool to draw and annotate each BUY or SELL trigger level.

The %$ tells MT5 to include the price level also.

I just mark each trigger level for a given timeframe, eg H4 No 1 BUY for the 1st BUY trigger on the H4 chart, and so on.
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  • #1,152
  • Mar 1, 2019 8:22pm Mar 1, 2019 8:22pm
Quoting loudoniii
{quote} I use no indicators - this is pure Price Action trading, in line with Simone's rules i just manually mark up my charts in Metatrader 5 (MT5) , using all the principles of Simone's trading system here on Daily Chart 3-Candle. I use the MT5 Fibo tool to mark up each level, as it allows me to annotate each level. This is nothing to do with normal Fibonacci, I'm just using the MT5 Fibo tool as a drawing tool, to mark up the various BUY and SELL trigger levels, as explained in the 1st Post in this thread. Let me make it quite clear - I am using...
Thanks for the feedback cheers!!!
  • #1,153
  • Mar 2, 2019 5:51am Mar 2, 2019 5:51am
Quoting Lando12
{quote} Thanks for the feedback cheers!!!
No prob, Lando12.

I have Metatrader 5 (MT5) set up at a UK hosting company called Fasthosts, as a Virtual Private Server (VPS), a Windows server that is up 24 x 7.

This means I can log in to it any time from anywhere in the world, using the Remote Desktop free app on my Apple Mac, iPad or iPhone.

This lets me use my big screen and Apple Trackpad to do the basic chart markup when I’m at home, then update the markup while I’m on the move, using my iPad or iPhone, from which I can also place my trades, of course. I’m about to purchase an Apple Pencil for my iPad, to enable me to make precise chart markups, to the 5th decimal place of price.

It’s great to be able to benefit from the ease of use of Apple touchscreen devices even though I still have to run MT5 on a boring old Windows platform.

I use MT5 because it has other timeframes including H12, and it actually saves my chart templates with all the markup, unlike MT4 which keeps losing all my chart objects and doesn’t save properly.
  • #1,154
  • Mar 16, 2019 12:48pm Mar 16, 2019 12:48pm
Where is the Euro (EUR/USD) heading in this coming week, I wonder?

Last week it made a modest rise, despite all the European uncertainty over UK Brexit, the future of the European Union, etc.

Here's a 12-Hour chart of the Euro marked up with Simone's original BUY Rejection and SELL Rejection levels, on the Monthly, Weekly, Daily and 12-Hour timeframes, to show us some key Support and Resistance levels that will either be respected, or overtaken, depending how the market goes.

Let's see what next week brings.
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  • #1,155
  • Edited Mar 26, 2019 12:27am Mar 25, 2019 8:29am | Edited Mar 26, 2019 12:27am
Hi ! everyone!
I recently learned about Forex in the last few days and especially the swing points method. It is very attractive and attractive. I used demo accounts to practice above swing points method.
I just set the above method, there is interest. However, I have not effectively used the features of support and resistance points. I hope you share more hands-on experience!
Attached Image(s) (click to enlarge)
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  • #1,156
  • Mar 26, 2019 8:38am Mar 26, 2019 8:38am
Quoting simoneg
{quote} Hi bnsnla, The only 123 setup on the EU Daily Right now is a bullish setup as seen below...This is the other 123 setup, which we need to see tested before taking. Please see attached chart. Yes we could see a reversal, but I am more looking at trading the structure that exists rather estimating what will happen on an incomplete one. {image}
Hi Simoneg!
I just studied forex trading. I am very impressed by trading Swingpoints method. I have set up according to your instructions on page 1.
I was embarrassed when determining the entry point.
1. As you can see from Figure H1, there are many swingpoints to enter the command. In your experience, at what point should we enter the command? for example, at swing high, swing low (bottom) or in the middle. How should we incorporate the support and resistance lines to enter effective orders?
2. In addition to the Swingpoints score you have shared. In your experience, is there a variation of Swingpoints that can be effectively exploited in transactions? For example: is H4 a variation of Swingpoints? hope you share more, if there is an image to illustrate, it is better.
Look forward to your reply!
Sincerely thank!
Attached Image(s) (click to enlarge)
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  • #1,157
  • Mar 31, 2019 3:21pm Mar 31, 2019 3:21pm
Quoting loudoniii
Where is the Euro (EUR/USD) heading in this coming week, I wonder? Last week it made a modest rise, despite all the European uncertainty over UK Brexit, the future of the European Union, etc. Here's a 12-Hour chart of the Euro marked up with Simone's original BUY Rejection and SELL Rejection levels, on the Monthly, Weekly, Daily and 12-Hour timeframes, to show us some key Support and Resistance levels that will either be respected, or overtaken, depending how the market goes. Let's see what next week brings. {image}
Can u clear me about rejection rule,Have to wait till bar#5 close.
  • #1,158
  • May 16, 2019 10:37am May 16, 2019 10:37am
Recently came across this thread. I'm here to make it lit. hopefully people wake up, daily is the way to go
  • #1,159
  • May 24, 2019 5:48am May 24, 2019 5:48am
Quoting Cloud33
{quote} Can u clear me about rejection rule,Have to wait till bar#5 close.
Hi Cloud33

Apologies for delay in replying ... I've been away.

The BUY and SELL rejection levels show major Support and Resistance levels on their respective timeframes: Monthly, Weekly and Daily. Post #1 on this forum shows you how to mark up the rejection levels on your charts.

I find that the most effective way to use the rejection levels is to show you where likely turning points are in the market, in other words, around these levels things tend to happen. For example, when price continues Long into a BUY rejection level, then the level shows you where price will meet significant resistance to going higher. So don't be surprised to see price turn back downwards off a BUY rejection level, as the name suggests.
,
This is no guarantee that price will do so, of course - if the bullish sentiment is really strong, price can break through the BUY rejection level and continue higher. This presents a good opportunity after the initial breakthrough to go Long off any backward retest of the level.

Exactly the same principles apply in reverse for SELL rejection levels, Just study simoneg's raft of examples in this forum to see how it works in practice.

To pinpoint the exact entry trigger levels, use the rules set out in simoneg's Post #1. You will find that these entry triggers usually occur around rejection levels.

To determine possible exit trigger levels, for example for Long trades, take care when price reaches the next BUY rejection level, and maybe treat this as a good point at which to take profits, or some profits at least. Same rule applies in reverse, of course, on SELL rejection levels when you are Short.

Hope this all makes sense - this trading methodology is the best I have seen in over 20 years of trading, so it is very worthwhile spending as long as you need in studying this forum and all its great input, especially those posts by Simone herself. Don't get hung up on the indicator that occupies a lot of chat later on in the forum ... stick to the basic rules and you should get great results!
  • #1,160
  • May 24, 2019 5:58am May 24, 2019 5:58am
Quoting Sigauke
Recently came across this thread. I'm here to make it lit. hopefully people wake up, daily is the way to go
Hi Siguake

I agree with you that it is best to plan your trades around the major Support and Resistance levels, the Monthly, Weekly and Daily levels. Personally, I find that marking up all these 3 timeframes' BUY and SELL rejection levels, as explained in simoneg's Post #1, provides a really accurate "ladder" of S+R levels.

However, in terms of finding the optimum trigger levels for entry, as long as you are working within the Monthly, Weekly, Daily S+R framework, I find that you can get some really accurate entry trigger levels from a shorter-term chart, usually the 4-Hour (no shorter!).

So when price, for example, bounces back down off a Daily BUY rejection level, you may find a good Short entry level from the 4-Hour chart, simply by following Simone's rules from Post #1.

These 4-Hour trigger entry levels give you trades with a beautiful Reward:Risk Ratio, as they offer very modest Stop Loss values, maybe as little as 20 or 25 PIPs, for a decent return, perhaps 75 or 100 PIPs.

Just study all simoneg's posts in this forum, particularly the first 20 or 30 pages, to see lots of great examples of such trades. The beauty of this approach is that it provides excellent profitability on all winning trades, while keeping losses well under control. This is a winning combination!
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