Re: Trading Pullbacks System

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RplusT wrote: Thu Jul 22, 2021 6:20 pm I simply prefer trendlines because the price doesn't constantly cross the line and I can decide where to put them.......i.e. I get a clearer picture.
I do agree with you (as well as with Meyney).
I think it is simply sad that - as far as I know - nobody has ever produced a reliable trendline indicator that shows the main trend move without cluttering everything else.
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Re: Trading Pullbacks System

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josi wrote: Sat Jul 24, 2021 6:26 pm I do agree with you (as well as with Meyney).
I think it is simply sad that - as far as I know - nobody has ever produced a reliable trendline indicator that shows the main trend move without cluttering everything else.
:thumbup: but realize there is no perfect manual trendline because price will change in the move, so therefore also no reliable tl indi. But just as I said in post 1; be selective; you have to know WHERE to use trendlines (I use them for the pullbacks with SD's etc.) Your chart is a perfect example! Just zero indi's, notice where is the action=impulse, where is stall=correction (take position on tl break). My template: the MA's will act as 'trendline' for 'direction' but keep spotting the fast,fierce moves contra the slow correction/pullback. In fact you do not need MA's or indicators (some keylevels etc. will help). So conclusion about your trendline from bottom to top: I will never short this trendline break on this chart because price action is making solid moves upwards and mini moves down(pullbacks), when we see a solid fast big move/ impulse down, followed by stall/chop/sideways and trendline break+decent move down, yes then it is time to act and wait for a proper entry at the retrace/trendline break in the new direction. This is what I tried to say from the beginning: trade the pullback lol hope this helps. best M.
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Re: Trading Pullbacks System

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Meyney wrote: Sun Jul 25, 2021 4:59 am ... there is no perfect manual trendline because price will change in the move, so therefore also no reliable tl indi...
I agree with all you wrote and liked your approach right from the start.
"My trendline" - as you call it - which only visualizes the main trend move not (like yours) the retracements has to be adjusted/redrawn (as price moves and creates new lows) but
isn't that a perfect example for the fact that there is/should be a place for repainting:
the indicator that draws "my" simple line has to redraw this line (after every new low is established) to end up as the line we see.
But as I said - I have - up to now never come across such an indicator.

Re: Trading Pullbacks System

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Josi, got to follow price action.....manually or automatically.....There is no way to anticipate if and where the pullback actually will reverse. Thus if we work with trendlines, that's the way it is. Some MAs, as on Meyney's charts, are a bit more flexible as those cover an area and not a firm line.
But then, why worry about it!? A pullback we trade when it is confirmed i.e. a break of the Trendline to the up or downside.......just my 3 Cents.


Re: Trading Pullbacks System

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Lux.Zyph wrote: Sun Jul 25, 2021 9:43 pm Hi @Meyney @josi @RplusT,
I really like this trading style, really clean charts and effective. Just one question; did you find any significant difference drawing TL lines using candlesticks compared to price line chart ?
Well, I guess that's just a preference. While I use line charts to draw major S/R levels on weekly charts, I prefer to use Bars on my daytrading charts. But the result should be the same anyway.
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Re: Trading Pullbacks System

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RplusT wrote: Sun Jul 25, 2021 10:27 pm Well, I guess that's just a preference. While I use line charts to draw major S/R levels on weekly charts, I prefer to use Bars on my daytrading charts. But the result should be the same anyway.
Thank you for your explanation; in this pic there's GPBUSD daily and got little different result with the two methods and I was thinking about using both for a further confirmation (but only on daily) ; on daytrading I think your way of using bars is better.

Have a nice and profitable week.
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Re: Trading Pullbacks System

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Lux.Zyph wrote: Mon Jul 26, 2021 1:38 am Thank you for your explanation; in this pic there's GPBUSD daily and got little different result with the two methods and I was thinking about using both for a further confirmation (but only on daily) ; on daytrading I think your way of using bars is better.

Have a nice and profitable week.
gu daily with proper setups watch the sd zone for entries on ltf.(zigzag down etc.) Why not load the template and zoom out; it seems you are trading a daily timeframe with your nose on the windshield you can not see price action properly.
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Re: Trading Pullbacks System

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Meyney wrote: Mon Jul 26, 2021 4:22 am gu daily with proper setups watch the sd zone for entries on ltf.(zigzag down etc.) Why not load the template and zoom out; it seems you are trading a daily timeframe with your nose on the windshield you can not see price action properly.
Thanks, you're right. I thought would have been better to zoom in to concentrate on just the last days for my day trading entries


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