I have a system that it is useful, when there is a rejection, it is required to enter immediately.
But for understanding a rejection, a wick must form. the only way to check for wick is to await candle closure. sometimes candle closure is too late, price moved away.
in attached screenshots 2 examples with blue circle. black lines should been the proper entry but for the reason I explained is not possible.
what do you do ?
some suggestions?
The wick isn’t finished until the candle is finished. I wonder if this might be a situation where different sized positions might be justified? - i.e. full-sized position where the entry signal pattern is ideal, half-size if price has already moved dramatically in rejection?
An alternative along similar lines mght be a full-sized position but with a stop-loss level at a more protective level.
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Yes, because wicks demonstrate price rejection, that makes sense.
Yes, that’s the only way to be certain. But that certainty comes at the cost of sometimes missing the boat, because by the time the candle closes you’ve missed the opportunity? Also makes sense.
This is fast trading, relative to the candle speed, then?
Yes, maybe you need to try candles constructed from range bars or volume bars, rather than timed bars?
No guarantee that either will be necessarily be any better, in the long run, but both are worth trying, with this kind of entry set-up. Futures traders are certainly doing this successfully, with range bar/candles, but that doesn’t necessarily mean you can do it with CFD’s, of course. You’d certainly want a broker with high volumes, to try it.
how can I use those candles ? there is a setup for tradingview ?
This settings wonderfully may solve a lot of issues and bad trades…
in fact, not very commonly candles come back to the level of previous rejections and also if they do, we aren’t sure that this time price is rejected again
maybe some introduce from you? who are you?
Oh yes
Sorry
I’m an amateur manual trader with 10 yrs or more experience in developing EAs without any remarkable results. Finally understood automatic programs are quite impossible to trade due to continuos market changes.
In last 1 yr I started manually to follow some methods but I coped with this problem.
I’m from Italy
Thank you helping solving this bad situation for rejection not took on time
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I need some strategy that could improve accuracy when rejections appear without awaiting the end of candle. Awaiting closure is very dangerous in particular when candles are very big (many pips long)
If it is sure that the rejection is good I can enter at a good price (proved all other checks have been made) without risking to enter too late.
What I suggest you’re chasing is a pot of gold at the end of a rainbow. It’s a fallacy to think that if only you knew more about a given chart, there would be no more surprise price moves.
What I would suggest instead is to focus on making more profit from your winning trades, rather than having fewer losing trades.
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There are a couple of things to clarify
just because you can’t use EA’s in trading doesn’t mean it don’t work. There are many ways how to build and test strategies, so I think you didn’t find this way.
did you make research in this case? did you compare these two situations and draw a conclusion?
How can I build candles based on range or volume ?
I should need to identify rejection pinbar before candle closure in order to enter early