You havnt mentioned time frame and currency pairs.

Originally posted by ironical

It is one of very simple techniques of trading.

Triplle candle formation is formed when three consecutive candles are in upward or downward direction.

This technique will work with bolinger band.

You need to check if there r 1 to 2 formations near bollinger band. If candles r bullish then buy signal and if bearish then sell.

If price retraces, exit and re-enter if price goes back to the point where it started retracing.

For TP you can either wait for tripple formation again or you can set a TP 2 to 3 times above retracement level.

 

This technique will work best when the price has just changed its direction off the bollinger bands.

 

Where did u read it? Have u tried it urself?

Tripple candle formation will be formed fastly in lower time frames and very slowly in higher time frames. That is why I have asked about time frame and currency pair. Most of the techniques, usually, work best on selected time frames and pairs.

I have also read this strategy somewhere. I have tried it at that time but it wasnt much successful.

Originally posted by Sasha

I have also read this strategy somewhere. I have tried it at that time but it wasnt much successful.

It depends on how u use a strategy. Some very successful strategies will not work if u do not practice them for months. So even a simple strategy requires u to practice for long period.

Learning forex is not about 1 or 2 strategies. It is all about learning to read charts. So when u practice a strategy, you come up with many different ideas and then modify a strategy according to ur need. Same goes for this strategy.

This strategy is so simple that I doubt its effectiveness. I think u need to mix some more things in order to get this strategy working.

Originally posted by illiterate

This strategy is so simple that I doubt its effectiveness. I think u need to mix some more things in order to get this strategy working.

I doubt its effectiveness not bcoz of simplicity but bcoz of unclear information. I think graphs and pics can clarify doubts. It will also help in explaining this strategy more clearly.

Originally posted by uniquetrader

 

Originally posted by illiterate

 

This strategy is so simple that I doubt its effectiveness. I think u need to mix some more things in order to get this strategy working.

 

 

I doubt its effectiveness not bcoz of simplicity but bcoz of unclear information. I think graphs and pics can clarify doubts. It will also help in explaining this strategy more clearly.

I agree. some images can explain it more clearly.

@ironical... Thx for sharing

My question is still unanswered..

Originally posted by illiterate

My question is still unanswered." />.

In my opinion this strategy can be tested on any timeframe above 1h (starting from 4h) for volatile pairs. For less volatile, you can test it in lower time frames too.

This is just my view. Maybe it has some specific pairs and timeframes.