Loading ...Consecutive candle analysis…
Hi guys,
Firstly, I just recently discovered this website… currently going through the material that has been accumulated… LOTs of cool stuff. You guys have lots of acronyms I’ve never heard! Now.. who is BOB??? For a while I thought it was a real person…
Alright, now to this consecutive candle analysis (haven’t seen anything yet here about it)… Sometime I try to give a slight angle to how I view things.. and see if it adds or subtracts to the total “weight of evidence” from a thesis I could have on the direction of a play.
I thought I would repost this from my youtube channel before if goes stale… well the data maybe… but the technique could be rehashed later on…
Anyways.. let me know how far in cookoo land I went on this one!
Regards,
Patrick
Wait.. just saw there was a “search” button… Found this previous post dealing with consecutive candle counts…
https://goldtadise.com/?p=439637
And here some stuff I did for Silver on consecutive candle analysis…
Extract from https://twitter.com/badcharts1/status/1170691837465649152
“…
Alright… here it is for #Silver consecutive green candles on #MonthlyChart:
53% chance to get 2
18% chance to get 3 <= We are here!
8% chance to get 4
5% chance to get 5
…"
The hardest part was getting from 3 consecutive monthly candles.. after that.. it's a coin flip if the streak continues…
Please.. somebody let me know if my calculations are off! A most probable possibility 😉
“Bob” refers to silver. Welcome to Tent.
IN addition to search you may go thru various post highlited on the sidebar of interest.
There is weakth of info here you may have never came across.
As in the movie ” What About Bob” ….The character played by Bill Murray….Unpredictable….manic depressive
🙂
Yessss! It’s like I was on my own… then I see lots of thoughts and brainstorm ideas I had with myself, already thought out and explored by others… Cool to know I wasn’t alone. Will definitely try to get inspired by the info I find here!
Thanks Patrick,
A+ analysis.
There is indeed a lot of hopium in goldbug space.
Your simple method of probabilistic candle counting makes a great deal of sense.
Candle analysis is for how many consec green/white candles.
How about Red candles afterwards? How many reds appeared before gcontinuing going higher??
Yep.. Great example…
We can get a 3-green streak… then a tiny red close.. then another 2 green streak…
My trading framework doesn’t use consecutive candles as any type of signal to buy or sell.. so this is very embryonic..
I think I might have to pop up a spreadsheet to see all test case scenarios I could run… #rabbithole
Thanks for the input Bikoo99!
Welcome to the Tent Patrick
Excellent new way to LOOK at things.
Love this. Well done
Certainly we need to temper our emotions in this sector and your unique take and presentation style has already done that for me
Very happy you found us. Look forward to watching you develop this type of analysis going forward
Cheers
Fully
Awesome to hear! Much appreciated. Hope to keep learning and contributing…
Regards,
Patrick
Thanks again Patrick,
I did a search on “consecutive candle analysis – trade”.
FYI, some other traders are thinking along similar lines.
Personally I find it encouraging to know others have had similar ideas – and it sure helps accelerate the discovery process.
Here are links to those traders that I found interesting, and which may help you in your thinking:
= https://www.forexfactory.com/showthread.php?t=567998
= https://www.prorealcode.com/prorealtime-trading-strategies/multiple-consecutive-candlesticks-strategy/
= https://www.fxcmapps.com/apps/consecutive-bars/
: P