J_Graystone

AUDCAD AKA The Consolidation Pattern Pair

FX:AUDCAD   Australian Dollar/Canadian Dollar
461 11 10
This pair has always been great for consolidation advanced patterns. Here is an example of why.


We have identified 4 potential patterns setting up this morning in the London Live Room.

http://www.tradeempowered.co.uk
Ohh yes, its been very good to us for more than a year now. Got this one now, beautiful turn around right at the PRZ. You should do more Periscopes i miss them.
snapshot
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J_Graystone PRO ThomasJeff_DCM
NIce, This wasn't a Cypher for me though as the C leg completed past the 1414 ext
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...and, as I talked with Akil about today, two legs "cannot" end on the same candle (A and B in this case).
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ThomasJeff_DCM Henrik-PatternTrading
Nice that is very interesting, i take cyphers that expand past the 1.414 as long as it dont close past it. Hesi77 it actually backtested this and i found in my portfolio i trade 10 pairs 2 timeframes it don´t really make any difference i could really track. Cause i tested trading Cyphers on the same portfolio, but on the 15 min. and on that it makes up for several bars. And found it to be profitable too, its just way too much for me to trade so keep to the two higher timeframes. I would like to know what Akils opinion on it was, cause he trades several lower timeframes too?
I find the same on H4 to H1 time frame and gives the same results
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This specific Cypher doesnt close beyond 1.414....but on 60min A and B ends on the same candle. Going down to 15min solves the "A-B" problem...allthough then it closes beyond 1.414... So according to those rules taught by Akil & Co. it is an invalid Cypher.

Akil/Jason G. - feel free to comment if I missunderstood it all? I'm still learning aswell. =)
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ThomasJeff_DCM Henrik-PatternTrading
You are actually right i did close beyond on the 15 min. I don´t check it anymore when i take trades, I don´t think i ever learned this from Akil back then, but i found the problem pretty fast from the h4 to h1 timeframe so i tested it out, and as long as both X-A and B-C are impulse legs, and got several bars, i found no deviation on winning % taking these trades. I only been trading them for 2 years, so maybe Akil that have traded a lot longer have found a flaw in during so?
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ThomasJeff_DCM J_Graystone
Could i ask you why you don´t take those that cross past but don´t close past like this one? That i have not tested out. Its just how I learned it in the 2 week TR when i took it soon to be 2½ years ago
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J_Graystone PRO ThomasJeff_DCM
The c leg is allowed to cross the 1414 however not allowed to close beyond it. On my data it did close beyond on this pattern therefore it's invalid for me.
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ThomasJeff_DCM J_Graystone
Ahh okay i got you, thanks for anwsering
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Keep the good work up :-)
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