ok ok zero replies but this is how I plot lines etc. As you can see we have a reversal pattern at the low, we wait for the conformation= check for yourself.
best M.
Re: Trading Pullbacks System
1062How do we clarify the difference between a legitimate pullback and a shallow retracement? Does it need to be x amount of bars? Does it need to reach a certain MA? Retest previous support or resistance?
Sometimes getting in too early and price continues to pull back further. Wider stops may be needed but that could also hurt the RR?
Can we use price action for entries? For example, a pin bar followed by engulfing candlestick for the continuation of a trend?
Sometimes getting in too early and price continues to pull back further. Wider stops may be needed but that could also hurt the RR?
Can we use price action for entries? For example, a pin bar followed by engulfing candlestick for the continuation of a trend?
Re: Trading Pullbacks System
1063[quote=whiteadrian23 post_id=1295455217 time=1642072473 user_id=4935963]
How do we clarify the difference between a legitimate pullback and a shallow retracement? Does it need to be x amount of bars? Does it need to reach a certain MA? Retest previous support or resistance?
impulse is most of the time big move in a short time, classic retrace is often choppy requires more time (like ABC pattern=corrective) does not have to reach a MA but if price bounces from an earlier SD zone the is a good place
Sometimes getting in too early and price continues to pull back further. Wider stops may be needed but that could also hurt the RR?
yes sometimes this happens, but I do not place a SL there, because PA can grab the SL easily; we have to be sure the PA will reverse, not a stophunt
Can we use price action for entries? For example, a pin bar followed by engulfing candlestick for the continuation of a trend?
yes look for momentum; if TL is broken by a weak candle be careful, better wait for a candle with strenght (nice fat green or red one), entry will be a little bit later perhaps.
best M.
How do we clarify the difference between a legitimate pullback and a shallow retracement? Does it need to be x amount of bars? Does it need to reach a certain MA? Retest previous support or resistance?
impulse is most of the time big move in a short time, classic retrace is often choppy requires more time (like ABC pattern=corrective) does not have to reach a MA but if price bounces from an earlier SD zone the is a good place
Sometimes getting in too early and price continues to pull back further. Wider stops may be needed but that could also hurt the RR?
yes sometimes this happens, but I do not place a SL there, because PA can grab the SL easily; we have to be sure the PA will reverse, not a stophunt
Can we use price action for entries? For example, a pin bar followed by engulfing candlestick for the continuation of a trend?
yes look for momentum; if TL is broken by a weak candle be careful, better wait for a candle with strenght (nice fat green or red one), entry will be a little bit later perhaps.
best M.
Re: Trading Pullbacks System
1065testing of my latest signal poistions m1 eurusd
rare signals but seems good!!
rare signals but seems good!!
"There is NO GOD higher than TRUTH" - Mahatma Gandhi
Re: Trading Pullbacks System
1069nice shorts and even a long entry on Dow. if the moves are there you will benifit on 1m chart
Re: Trading Pullbacks System
1070Gold. from short to long. You can add millions of indicators, it will not help you, price is King...indicators will lag always. But footprints are there for you =impulse retrace
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