Two candle strategy

Discussion in 'Technical Analysis' started by karthik_sri, Sep 30, 2013.

  1. ulhas_zambare123

    ulhas_zambare123 New Member

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    1 ) what we will do if order will not trigger in next immigate bar ???
    2) still we will keep the order or we will cancel order ???
    3) do we need bodied bar only or doji and doji + bodied bar such combination ???
     
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  2. karthik_sri

    karthik_sri Well-Known Member

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    Dear Purushotham,
    You are exactly right. If the buy/sell is not triggered in the next candle we will close the setup and look for the next setup.

    I have to put these conditions in my main page. Will post this condition also. Thanks...My slipup:p
     
  3. karthik_sri

    karthik_sri Well-Known Member

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    The answer to your queries is given point by point

    1). If Buy or Sell not trigerred in the immediate candle we close the setup and wait for another setup to form
    2). Cancel the order and wait for another setup to form
    3). Any such combination. Close should be > open in case of Bull and close should be < open in case of Bear. But the subsequent candle 50% level is very important!
     
  4. karthik_sri

    karthik_sri Well-Known Member

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    There are no lot filters and only two...

    1). To make the setup valid the second candle should not touch the 50% level of the first candle
    2). If the setup is made the Buy/Sell should fullfill in the next candle time frame else cancel the order and wait for another such setup to form

    That's it!!!
     
  5. karthik_sri

    karthik_sri Well-Known Member

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  6. Rish

    Rish Well-Known Member

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    :thumb::thumb::thumb:
     
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  7. anup

    anup Well-Known Member

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    Can someone post(charts) of nifty trades according to 2 candle method for today
     
  8. anup

    anup Well-Known Member

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    Karthik, A basic question : As you have told that 2 candle strategy can be tried on any frame. Can you suggest which would be the ideal time frame (5 mins,15 mins, 30 mins , 60 mins or 1 day)..
     
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  9. karthik_sri

    karthik_sri Well-Known Member

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    Aarav11, Shantala and anup like this.
  10. karthik_sri

    karthik_sri Well-Known Member

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    The shorter time frame will give you profit & risk less vice versa in longer time frame. But in shorter time period u will get much opportunities but gauging the 50% level and placing the order within the prescribed time is the question as in 5 min time frame u will have to work out all these.

    Suggest you try with 10min. But ideal is 15min where the profit & loss is decent.
     
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