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when
you have a huge down and next candle open above previous close, then
there is at least an up of at least 50% of previous candle (no matter
what will be the ending close of that current candle).
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H1 has no tail and is lower than the previous candles' closing on your chart.
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But just SEE don't interpret. I know it's hard to LET GO. |
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OK. That is an OBSERVATION. |
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How Many Times Does A Red Candle Follow A Red Candle? How Many Times Does A Red Candle Follow A Green Candle? How Many Times Does A Green Candle Follow A Green Candle? How Many Times Does A Green Candle Follow A Red Candle? Do You See A Pattern? Do You See What Usually Happens After A Certain Number Of Times? More Importantly, Do You See What Usually Does Not Happen? |
I see the price hitting the 193.53ish level three times and moving up.
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in every instance price dropped for 3 candles then went up.
when the price hit the 00 it changed color and went bullish |
Damn. I am getting frustrated. I think I am trying to read into it too much.
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are you talking about the live movement of the candle?
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M15, M30, H1 all green in all three examples
Here I go thinking (maybe over thinking) again - it is easier to trade with the true "trend" for any given "moment" with the path of least resistance for price. |
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YOUR GRADE: A What happens to you when you trade? You see what LOOKS LIKE A BOTTOM, You enter the trade and it DROPS ON YOU! Then you stop out, ride it out or add to your position and trade your way out. So, using this observation, you "know" to WAIT for 3 RED candles BEFORE you enter long. Sure you may miss some trades but better to miss and be flat then to enter and be in the hole!! Also, since this is happening on the other time frames, when you see it on the M5, you move up to the M15 and if you see it on the M15, you move up to the H1 (or M30). Did you notice how the candles all turned GREEN after price bottomed and began to move up? So this observation means YOU WAIT. You WAIT for the candle color to change. But there are still more observations to be listed. |
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Don't read anything into them. Just look and see. Make OBSERVATIONS NOT INTERPRETATIONS. |
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Do not read anything into it. Just look and see. What do you SEE? |
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Just Look, See, Observe. |
you look at 3 charts at same time to find entry.
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Also, I had thought I learned something previously with a candle closing higher or lower then the immediate left and right candles at support or resistance signaling a reversal, but it apparently only worked on that one day. Any thoughts? |
he
probably has multiple strategies, and try to teach us that way? I found
that sometimes it work, sometimes it doesnt in these example in the
thread. Any idea? Think too much or simply not getting the simple idea.
:cool:
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when to enter ? I think it is not a good question or that shows you don't have it (huhhhhhh i still don"t know if that works really ;) ) ! Let me explain what i think i understood : After 3 candles red then just ENTER LONG, no confirmation of nothing, then EXIT after 3 GREEN or if market is down at you. But not on the 5mn ... :( or there is something i still don"t see.... |
I
just found 2 different pairs that had 3 like candles with confirmation
on the 15 and 1 hour. I entered after the close of the third candles
and got stopped out so fast I thought I didn't put the trades in
correctly. On both pairs price had crossed either support or resistance.
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Each
new candle that closes I try again, but it price keeps going against
me. This 3 candle thing isn't such a good plan. I literally put in a
trade and it gets topped. Damn... EUR/USD and USD/CHF are what I'm
working with. I'll keep trying.
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I Am Teaching You To See. |
Can
you tell me what I'm not seeing the past 1/2 hour with eur/usd and
usd/chf? I'm only using a demo account, but I just got seriously
hammered. And of course now that I've thrown away $20 in play money,
it's turning around... :-(
Would entering now be a bad idea, now that both pairs have moved the 20 pips I had originally hoped for? |
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You need to reread. You have to learn to SEE. You haven't learned that yet. |
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Got it.........
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USD/CHF
http://i220.photobucket.com/albums/d...sac/usdcfh.gif EUR/USD http://i220.photobucket.com/albums/d...sac/eurusd.gif http://i220.photobucket.com/albums/d...sac/trades.gif The stop losses and take profits are pretty much arbitrary for these trades as I had planned on monitoring them and adjusting accordingly, although I would've lost anyway when price kept moving against me. |
this
is a good idea, but can you bring it in another form of indicator?
counting the red lines against the other ones... & make from that a
histogram or line graph?
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On the EURUSD trade...
The price was below the moving average AND the moving average was heading south.. what's the reason you bought? |
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...the price is going up (green candle) after testing near a 'big number' (.50). Price has crossed above previous candle's close. |
TheRumpledOne,
IMHO this thread is not for a newbie like me because every time you post a new post especially those with chart in it and you ask "Did you see it?". I never see what you want me to see. And every thing gets darker and darker so dark that I don't know what to ask you :confused:. You could say that I am an empty cup based on the fact that I just learn about forex for 2 weeks and the only knowledge i have is every thing covered in the school of BabyPips because I just graduated from there. I feel like an empty cup but with a hole in it because every time you make a new post to fill the empty cup, the empty cup never gets filled. But I am not going to give up in this and I am interested about what are you trying to say in this thread. So do you have any suggestions where should I go first or what should I understand first before I read this interesting thread and can follow what are you trying to say? Please help me find something to patch this empty cup :) Note : Please forgive me if there's a spelling error or grammatical error in this post because I can't speak English fluently |
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YOUR GRADE: B |
see my comments in bold:
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WELCOME TO THE JUNGLE! This thread IS for new people because you have a lot LESS to UNLEARN. Most education about the market is INDICATOR BASED. Even CandleSticks are "indicators". Only a few places/people discuss PRICE ACTION ANALYSIS in pure form. If you notice in the charts I posted without any indicators, you will OBSERVE the following: 1) RED and GREEN objects 2) A RED object usually followed by another RED object that is lower than the first RED object 3) When a GREEN object appears after a series of RED objects, it is usually followed by another GREEN object that is higher than the preceding GREEN object. Notice that I made no mention of PRICE. All I did was make OBSERVATIONS. You have but one goal or mission as a trader: TO TAKE MONEY FROM THE MARKET. In order to do that, you must be able to OBSERVE the price action WITH YOUR OWN EYES. When you are able to buy when price is going up and sell short when price is going down, you'll take money from the market. Accurately identifying price direction at the time, is of primary importance. What to read? Read all you can about TRADING PSYCHOLOGY. Skip all the books about indicators. BabyPips has already taught you all you really need to know about indicators. BE THE LEAF! WATCH IT EVERYDAY BEFORE YOU TRADE. |
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Tro
I like your style of trading Ive heard storys about streams and young
monks and old monks and alot of that type. There is great moral lessons
but more important there is great trading lessons. If you are the leaf
you are able to flow with the market not concerned with holding on to
long and not thinking of the past just flowing collecting pips.
Wonderful teaching!!!
You so remind me of fti over on ff sometimes but your trading is so different. He uses alot of aow tactics and like you believes it is war and you have to protect your book. I like your matrix interjections, in fact my wife never saw that so I went out and bought it 2 days ago. If you look at those candles the way neo sees the matrix and with realization of what you are really seeing and not what you think or what you hope or what you predict or what should be but just let your mind go and release all the old thinking that imprisoned you then you to can become a top notch trader that is feeding off of the very pulse of the market 1 tick or 1 bar or 1 candle at a time. |
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I still think the rules don"t work on 5mn. It is kind of obvious IMO because there are more candles (noise) on that timeframe. But i would like to propose something on 5mn : 1) 3 following red candles => 2) LONG 2.1) if open of next candle is higher than close of last red right, let it go 2 greenWhat you think ? |
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Btw you could have saved some time to code the ask line since the metatrader platform could show also the ask line , just press F8 on chart and in the tab 'Common' flag the 'Show ask line' option ;) Cheers, Skyline |
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