Re: Trading Pullbacks System

322
josi wrote: Tue Mar 23, 2021 7:39 pm the good news: even GBPJPY has decided to go down - so you were able to make your sell (M15; a bit more than 20 pips)
thx man i was so confused........... especially when gbpjpy broke thru 150.000 im think omg major round number but i shorted just as it blasted through & got 36pips!!! scary moments :cry: :cry: :cry:
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Re: Trading Pullbacks System

325
moey_dw wrote: Wed Mar 24, 2021 12:31 am THX TO U FOR UR SYSTEM BOSS

need to ask u jose & mayney........... did u know gbpjpy would break 150.000 & continue downside??? how did u know this bro cos I was very unsure tbh
We can only anticipate and get in early with a proper entry Moey before the train leaves as I showed with your 30m SD zone. When you are in fingers crossed and try to ride it as long as possible you can move you SL at every hickup / stall. Of course there are a few targets like previous high/low , SD zones (see gy 1H chart) and round number etc. If you look at the gy 1m chart you see almost ZERO reaction/retrace at 150 so this is a sign price can continue further down.


Re: Trading Pullbacks System

326
moey_dw wrote: Wed Mar 24, 2021 12:31 am need to ask u jose & mayney........... did u know gbpjpy would break 150.000 & continue downside??? how did u know this bro cos I was very unsure tbh
1. very interesting and very simple system: I like it a lot (but don't trade M1, M5)
2. H4: GBPJPY closed below EMA9, tried to move further down but was rejected: lower extreme of range was clear (in case of BO down). MAs: the space between the MAs widens, i. e. downtrend is intact
3. I didn't know and didn't expect that GBPJPY would go down (that far)
a) there was a gap (lots of things can happen after a gap) but
b) if price breaks out of range downwards: MMO: measured move objective (i. e. expect the move to be similar to the move before gap+consolidation)
(Trading the Measured Move: A Path to Trading Success in a World of Algos and High Frequency Trading and above all: one of the best books on trading ever: Adam Grimes: The Art and Science of Technical Analysis: Market Structure, Price Action, and Trading Strategies)
I am sure, Meyney will have more interesting stuff to say.
anyways: a good day for you: so, all is perfect

Re: Trading Pullbacks System

327
josi wrote: Wed Mar 24, 2021 12:51 am
b) if price breaks out of range downwards: MMO: measured move objective (i. e. expect the move to be similar to the move before gap+consolidation)
(Trading the Measured Move: A Path to Trading Success in a World of Algos and High Frequency Trading and above all: one of the best books on trading ever: Adam Grimes: The Art and Science of Technical Analysis: Market Structure, Price Action, and Trading Strategies)
Josi is right this will add another dimension, I have traded in the past fibo extensions / MM's only on the chart and still use it -not always- for confirmation. But for now I think to complicated in this thread let's focus on this 'simple' idea first we can add later if necessary.
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