Page 48 of 198
Re: Trading Pullbacks System
Posted: Thu Apr 15, 2021 5:05 am
by pacois
Meyney wrote: Thu Apr 15, 2021 4:50 am
Thanks again to help I really aprreciate! My mission is to focus more on how price is moving instead of all the indicator hocuspocus. Therefore sometimes a little bit irritated when members post stuff without knowledge / reading this thread properly.
cheers M.
Yes, you are right, I understand your intentions, to focus only on your system, without distractions, but you know, everyone hopes for the indicator, miraculous, as you well know it does not exist, there is a favorable market, it is what we must understand and exploit to make stable profits Thank you
Re: Trading Pullbacks System
Posted: Thu Apr 15, 2021 6:19 am
by Meyney
pacois wrote: Thu Apr 15, 2021 5:05 am
Yes, you are right, I understand your intentions, to focus only on your system, without distractions, but you know, everyone hopes for the indicator, miraculous, as you well know it does not exist, there is a favorable market, it is what we must understand and exploit to make stable profits Thank you
Thanks for your reply and I agree: novice traders really think they can trade indicators only.
Re: Trading Pullbacks System
Posted: Thu Apr 15, 2021 7:45 am
by Meyney
Meyney wrote: Thu Apr 15, 2021 3:52 am
update on AU idea I posted before, I hope you did well and took my advice how to trade the Higher SD and HS pattern
Anyone? zero reply?
Re: Trading Pullbacks System
Posted: Thu Apr 15, 2021 1:20 pm
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 lunch and dinner though.......
Re: Trading Pullbacks System
Posted: Fri Apr 16, 2021 3:00 am
by claytonbj88
Good evening guys, this is my very first post on here, after spending a year and a half looking on forex station for a price action system, im always looking to improve my knowledge to improve my trading, i just extracted the indicators from the pullback system on page one but there isnt any moving averages in this folder, could someone please share just the moving averages indicator with the settings so i can begin to back test.
( apologies guys ive just found the moving averages when loaded the template )
best wishes
Clayton
Re: Trading Pullbacks System
Posted: Fri Apr 16, 2021 7:40 pm
by Crew001
Many thanks Meyney for this excellent system and the time you've taken to explain it. Whilst I've read all of the posts and will read them again to make sure it sinks in, I have started to demo trade your system and have a few questions.
When you're selecting a pullback to draw your trendlines, how big a pullback are you looking for? It seems that you draw them even when the 80 EMA is crossed for example. If they don't reach a certain MA do you exclude them, or is it just by eye on the size of the pullback?
I've traded for a few years and I've used pivots quite a lot for target, support/resistance. Is there a reason you don't have these on your charts?
My main comment was, please don't stop posting your charts and thought process, its really useful.
Re: Trading Pullbacks System
Posted: Sat Apr 17, 2021 12:15 am
by josi
Meyney wrote: Thu Apr 15, 2021 4:02 am
The perfect indicatoris our head ...
man, just for fun's sake I tried M1 for a while today - the horror, the horror.
Don't know how you guys do it.
It's so bloody fast, it melts my brain cells.
Re: Trading Pullbacks System
Posted: Sat Apr 17, 2021 12:49 am
by Meyney
josi wrote: Sat Apr 17, 2021 12:15 am
man, just for fun's sake I tried M1 for a while today - the horror, the horror.
Don't know how you guys do it.
It's so bloody fast, it melts my brain cells.
Lol Josi yes it can go fast, but a few 'slow' entries this morning it seems, I did not trade this, a few longs on GY 1M today. If you have to draw all by hand 1M is quick yes.
Re: Trading Pullbacks System
Posted: Sat Apr 17, 2021 12:57 am
by Meyney
Crew001 wrote: Fri Apr 16, 2021 7:40 pm
Many thanks Meyney for this excellent system and the time you've taken to explain it. Whilst I've read all of the posts and will read them again to make sure it sinks in, I have started to demo trade your system and have a few questions.
When you're selecting a pullback to draw your trendlines, how big a pullback are you looking for? It seems that you draw them even when the 80 EMA is crossed for example. If they don't reach a certain MA do you exclude them, or is it just by eye on the size of the pullback?
I've traded for a few years and I've used pivots quite a lot for target, support/resistance. Is there a reason you don't have these on your charts?
My main comment was, please don't stop posting your charts and thought process, its really useful.
Hi there nice to hear you like it. About trendlines/pullback: price has to retrace into OB/OS area (use stochastics or another oscillator or histogram few examples here) and most of the time watch price action: the pulse will be quick and fierce, the retrace slow and choppy often double bottom/top retesting etc. We can put a lot of stuff on our charts like pivots (daily, weekly hourly?) and S&R, but in the end you can not see the chart anymore and can not pull the trigger because there are too many factors showing a different story. I find the SD zones combined with round numbers just ok and enough but if you want to use pivots and S&R your choice of course. best M.
Re: Trading Pullbacks System
Posted: Sat Apr 17, 2021 4:16 am
by Meyney
You can spot if you want the inverted H&S into the low(spike down etc.) round number GY (also htf low) today. After this only longs MA's as guidance, enter at a good solid price/entry. If price can not proceed making lower lows, lower highs at 149.50 and does opposite be ready for longs.