CandlesticksTrading Pullbacks System

1
Trading Pullbacks System

Trading pullbacks with trendline break.

First target is previous high / low.

Be selective: for example if the MA's are flat there is no clear direction, move to another pair or other timeframe if you notice this.

Stop Loss: can be previous high/low or even better one before. If you scale out on 1st target do not forget to scale out also when the trade moves against you otherwise you will take a full SL, in other words your
moneymanagement is out of balance. If price crosses the red/blue MA be careful this can be a change in trend.

Why trade pullbacks?
  1. We want a proper price/entry= no chasing.
  2. We will wait for a proper move first.
  3. When the breakout traders or indicator traders (when all 15 indi's ailgn) enter we can bank our first target.
  4. ZOOM OUT!
cheers M.

Version 13-3-22. Added MTF SD zones and AO histogram (for peaks and valleys/plotting trendlines-pullback). Switch timeframes and see how price moves/bounces at the SD zones. MA's are used as a 'trendline'. MTF SD zones are set to 15M 1H and Daily in this template. When they cluster with a round number head's up.
Attachments
When direction is clear you can use the AO histo or Stoch to draw trendlines. (AO moving to zero line, Stoch in OB/OS area) When direction is clear you can use the AO histo or Stoch to draw trendlines. (AO moving to zero line, Stoch in OB/OS area)


Re: Trading Pullbacks System

2
Same chart zoomed out only with a few MA's. What do you see? Where does price retrace, previous highs, previous lows, where is price taking off, where is price stalling etc.
Attachments

Re: Trading Pullbacks System

3
Pullback trading works well with pretty much any system. Using MAs, is simple and practical. But I think the whole thing sits too tight i.e. it should leave a bit more room for the pullbacks. Thus I'd set the MA.s to 144, 99, 69, 54, 45, 36,21..... Don't be curious about the numbers, I'm a fan of Tesla (936).... :D ...Just my 3 Cents

Re: Trading Pullbacks System

4
Meyney wrote: Fri Dec 25, 2020 12:00 am
If I may ask - what are your inputs for the RSIMA?
PS: you sometimes use weird trendlines (i. e. ones which do not reflect the Pb-extremes).

Re: Trading Pullbacks System

5
RplusT wrote: Sun Dec 27, 2020 9:36 pm Pullback trading works well with pretty much any system. Using MAs, is simple and practical. But I think the whole thing sits too tight i.e. it should leave a bit more room for the pullbacks. Thus I'd set the MA.s to 144, 99, 69, 54, 45, 36,21..... Don't be curious about the numbers, I'm a fan of Tesla (936).... :D ...Just my 3 Cents
Yes there are many settings possible, for example setting A will give less entries but will miss minor moves, and setting B will have more entries but a few SL's etc. etc. Over the years I found 'my' setting most suitable for all timeframes, but this is personal and has to suit your tradingstyle. We can discuss for many years which settings are the best, but best settings do not exist in real trading. Sometimes setting A is better in market B, and sometimes setting B is doing better in market B+. The key is: can you recognize a setup which can probably have a chance of succes overviewing the current market? That is why I said when i started this post; 'be selective'.


Re: Trading Pullbacks System

6
josi wrote: Sun Dec 27, 2020 9:53 pm
If I may ask - what are your inputs for the RSIMA?
PS: you sometimes use weird trendlines (i. e. ones which do not reflect the Pb-extremes).
I just loaded this indi with default setting as example, a few others are possible for example Stochastics to show OB/OS areas. Weird trendlines? Let me check that is how I draw them. There are many different rules to draw as you know.

Re: Trading Pullbacks System

7
ok we can argue a lot about settings and indicators but in the end we have to make money agree? let's do 1 minute setup gy, one day before holiday is crap but still not bad. spot the entries, again the indicator is attached just to make you feel comfortable. Trade this setup on mtf....be selective as I said before...
Attachments

Re: Trading Pullbacks System

8
EU 1M with trendline breaks as time proceeds today let me know if you like more charts. Sometimes you will miss a big move, it will happen with this approach the idea is not to jump the gun but wait for a proper move. GY 1M also a few very nice setups today as you can see
Attachments


Who is online

Users browsing this forum: CommonCrawl [Bot], Efegocmen, Mickey Abi, Shockr, TransparentTrader, twix and 31 guests