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Re: Trading Pullbacks System

by: RplusT
Two Australian Brokers and as I type this, 40-60 points difference in the Dow. I guess they just feed us what suits them.
On the other hand, 240 points down so far ....and still going....does compensate for that. Another easy trade today.
I start getting to like this chart.

Dow.JPG

Re: Trading Pullbacks System

by: josi
I agree the 15M was long all day and is a different cycle, If we look at the 15M this 1M short was a retrace but the setup was 100% valid for a short on the 1M (impulse down, retrace/chop moving away from the round number) Absolutely, you're quite right. That's what I meant: depending on TF and ref...

Re: Trading Pullbacks System

by: RplusT
With the US30 sound asleep I wasn't really confident to expect a lot from this trade. But then, giving it a try it turned out to hit me in the face first (happens once in a while......(I'm lying)...... and then went the way South as expected. Good move but low yield. Didn't risk much. It pays for lu...

Re: Trading Pullbacks System

by: josi
Forgot to mention the candlesticks on 1H chart at the SD/round nr. This is often called a 'railway track' reversal pattern, and if you switch to 4H chart it will show a big fat spike/hammer give it a name, anyway a bullish heads up. That's why I like to have candlesticks on the chart, it will tell ...