Hello all FF members,

This thread is started to discuss the Flying Buddha price action chart pattern, as first mentioned in this thread - Building an equity millipede

The Flying Buddha is only a small part of that trading method, therefore it is best to have another thread where shorter term or swing traders can share research and post charts.

I have not seen any hard and fast rules for trading the Flying Buddha, but have picked these general tips up -
- possibly works best on 4 Hour time frame
- entry and stop loss up to individuals, refer example, better to keep a tight SL, you can always re-enter on the way down or below the low of further candle(s)
- certainly best after a extended run up to a resistance point
- a level of Fibonacci retracement is good
- if it is a pullback to the overall larger time frame trend
- wait for a close below the FB candle, or at least certain number og pips
- perhaps more chance of success when a PIN BAR is present

Here is a chart I put together on the latest data available, and this looks like failing, so let's see what happens from here.

So, if you are interested, and are able, please post your charts, comments, suggestions, criticism, and winning trades

Regards, John