Re: Trading Pullbacks System

1022
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.
Image
what i scan the spot postion same you pointed and advised .. <3
this candle is pretty good to make lines ...
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"There is NO GOD higher than TRUTH" - Mahatma Gandhi

Re: Trading Pullbacks System

1023
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?
Valid points. Perhaps I should have placed greater emphasis on "seems".

Here's the macd, which here was used on TF +1
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Re: Trading Pullbacks System

1029
Again.....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.


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