Potential Master Candle Set Ups

[six gun]

It is interesting that on the James16 thread on forex factory they make a biggish play about inside bars - the bars inside what will be a master candle.

They spot an inside bar - whereas running with the method here one would want at least 4 inside bars.

[djcash]

It is interesting that on the James16 thread on forex factory they make a biggish play about inside bars - the bars inside what will be a master candle.

They spot an inside bar - whereas running with the method here one would want at least 4 inside bars.

Yes six gun, I also follow the James16 thread. They look at quite a few candle setups including inside and outside bars and pinbars. The James16 thread tends to favour the longer time frames rather than the hourly candles typically used for the MC trades in this thread.

An inside bar may get you into a trade earlier than using the master candle setup. It would be interesting to look back and see how successful either setup was.

Dave

[six gun]

I think the James16 methods have similarities to those used by many on here.
The "long wick pattern" what is this but a pin bar or something of that aetiology?
The inside bars - master candle method.
Trading off S+R levels.

The outside bar, which is a big favourite and the double high/low higher/lower close, which is what James very first brought to this thread is not a candle stick pattern mentioned here, I don't think.

It is a very interesting thread and looks at PA and does not concentrate on complicated indications.
They use fibs and pivots but whether you beleive they are "true or not", it is true that many traders use them.

[SanMiguel]

Inside bars, master candles, they are all consolidation areas where 1 candle is in control, that's all you're really trading here.
Anyone still about on this thread?

[Narf46]

I agree with you SanMiguel, plus your S&R areas and trend lines, but you are right, it is consolidation, and at some point there will be pips to be made LOL

[Furious_angel]

Inside bars, master candles, they are all consolidation areas where 1 candle is in control, that's all you're really trading here.
Anyone still about on this thread?

yup, it's all about looking for consolidation and waiting for momentum to kick in.. not rocket science, but i think after you have read everything in this tread, you should be an expert in master candle method. when i first started chat in the chat room about master candles there were a lot of questions and then nick published the e-book that should have answered the rest of the questions, but you still have or want to talk about them, just post away and i will reply.

cheers!!

[djcash]

Inside bars, master candles, they are all consolidation areas where 1 candle is in control, that's all you're really trading here.
Anyone still about on this thread?

Hi SanMiguel,

I'm still around, although this MC thread seems to have died now.

Dave

[CafeColombia]

I'm still around trading MC.

[Narf46]

There is a Master candle on the GBP/JPY, if anyone is interested!!!

[Dane]

There is a Master candle on the GBP/JPY, if anyone is interested!!!

Master Candles formed by news are always something to be wary of I have found. Be careful on that one.