Triple Confirmation trading strategy!
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  1. #1
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    Triple Confirmation trading strategy!

    This is a strategy created by me.
    I have named this strategy TRIPLE CONFIRMATION , beacuse we will not just use one analysis, but we will use 3 or more methods for confirming our buy/sell signal.
    Like if there is a candlestick pattern formation like doji or pin bar, and there is a near term support/resistance, and also a trendline is also retesting or breaking, then this trade would be called Triple Confirmed trade!

    I will share charts here, old and new, so that you can get idea what i want to say about .

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    This was also an old chart of 29th AUgust 2013, in which i analyzed GBPUSD in the daily time frame. Why i shared this chart

    here is because , first of all , there was a break of trendline which was retested . Secondly there was a pinbar in the daily

    time frame. And thirdly , there was a support rejection as well.
    Making this trade triple confirmed.


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    This chart shared below was of GBP JPY analyzed in the daily timeframe. I analyzed this pair on 14th Nov 2013 and shared the chart here in this forum as well at that date .
    You can see market was a good strong resistance point here in this pair. And the running candle didnt closed aboved resistance making the resistance more effective. So we can take a sell opportunity and our tp could have been the near term support.
    Secondly MAZD momentum was also facind.
    And thirdly RSI was showing overbought region , making this trade a triple confirmation one.


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  4. #4
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    How will this be possible when the analysis is based on the candlestick, all of them. It is not easy to see a chart that will form doji on the candlestick and still have pin bar or something of that nature. It is very hard to get this. And i have seen that if it is seen it is still not a guaranty that the market will obey that rule.

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    You have made a good point on this, and the picture i have seen with this confirmed it too. It is a very powerful reversal trading skills for traders that love to make trading based on 1 day trading chart or higher, it gives more reward than the risk that the traders will use on this, this is why i do no hesitate to use it if formed.

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    This chart was of EURGBP which i had analyzed in the daily time frame. I shared this chart because market was near a good support region and i think so that we could have got some pips if we have bought from this area. Out 2nd take profit would be the near term resistance . Moreover, MACD's momentum was improving and RSI was below in the oversold region . These 3 things made this trade triple confirmed as well.


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    If someone could have take this trade it could be a triple confirmed trade because firstly the support (which was previosuly 3 times already obeyed and market then went up) was clearly broker as the candle closed below it . secondly there was a retest to the support as well making it as a resistance . and thirdly you can see that there was a downwards channel too. making this triple confirmed trading signal.

    audnzddaily.png

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  8. #8
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    Tripple of double bottom or top and they all are chart patterns and price action traders look this as trading opportunity whether it is a failed breakout or breakout pullback waiting for few session and you will get the high probability trades I use double bottom strategy and that is the main weapon of my trading techniques and I am trading it with great success

    regards

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  9. #9
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    This chart is triple confirming to sell because firstly there is a head and shoulder pattern formation which is a nice bearish confirmation pattern. secondly the neckline is broken and right now market is again testing the neckline's resistance. and thirdly if you see the daily chart, the main trend is down , so , i think so we should go for a sell.

    Attachment 3584

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  10. #10
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    There is a double top in weekly time frame of usd.jpy . not only this but a symmetrical triangle has also been formed in this weekly . making this trade, double confirmed. and if this weekly candle closes like this then we can expect some sell off from this area. this can become a triple confirmed trade. please correct me if i am wrong.
    buyers should be careful. and sellers stop loss could be the high of this weekly candle +1 pips.

    Attachment 3600

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