yes Sal indeed. The MA's are pretty good spotting direction (best). Key is to enter at a decent price and watch Price Action (scan impulse and retrace); zoom out.
Re: Trading Pullbacks System
1022what i scan the spot postion same you pointed and advised ..Meyney wrote: Sat Dec 11, 2021 7:03 am yes Sal indeed. The MA's are pretty good spotting direction (best). Key is to enter at a decent price and watch Price Action (scan impulse and retrace); zoom out.
this candle is pretty good to make lines ...
"There is NO GOD higher than TRUTH" - Mahatma Gandhi
Re: Trading Pullbacks System
1023Valid points. Perhaps I should have placed greater emphasis on "seems".josi wrote: Sat Dec 11, 2021 1:52 am Statistically speaking, I would wait for a sample size of 100-400 before making such statements (predictions).
Fact is: WS30 has been going up even before London Open, only now - with the spike - was it testing old highs, i. e. is it possibly and eventually turning the other way.
So guessing wasn't at all necessary: you entered around London Open, stayed in the trade until price reached 35937 (test of former high) and then said bye-bye...
P.S.: But I like your setup; the screen looks well-structured and clear.
Which MACD-indie are you using?
Here's the macd, which here was used on TF +1
- These users thanked the author Pauliz for the post (total 2):
- josi, Thangarasu
Re: Trading Pullbacks System
1025Sure...Pair? timeframe? we can not guess...Again; you can use a few indi's to help to determine oversold/overbought area's. AO, stochasticks etc. In the long run it is all the same (no specific indi is perfect) combine with momentum/Price action etc.
Re: Trading Pullbacks System
1026looks nice EURUSD
"There is NO GOD higher than TRUTH" - Mahatma Gandhi
Re: Trading Pullbacks System
1027this morning only shorts; no impulses up right see it, watch PA. No Micky Mouse trades zoom out lol.
Re: Trading Pullbacks System
1029Again.....There are many sophisticated Indicators here (and I respect the highly skilled coders creating those), but the way I look at charts, there is no better Indicator than a simple trendline drawn by hand as price action moves on. May not always be perfect and some times needs to be corrected a bit, but so what!
Besides, on charts that are zoomed out, price action is far less deceiving than on magnified (zoomed in) charts. Meyney has repeatedly pointed that out.
Besides, on charts that are zoomed out, price action is far less deceiving than on magnified (zoomed in) charts. Meyney has repeatedly pointed that out.
Re: Trading Pullbacks System
1030yes true zoom out; trendlines/channels are very powerful. It seems 1m charts are doomed; most traders are told 1M is 'noise' not sure where they got this nonsense. Yes if you zoom in to the max you will be killed but also on 1H....
