Re: Trading Pullbacks System

#481
Meyney wrote:
Sat Apr 17, 2021 4:16 am
You can spot if you want the inverted H&S into the low(spike down etc.) round number GY (also htf low) today. After this only longs MA's as guidance, enter at a good solid price/entry. If price can not proceed making lower lows, lower highs at 149.50 and does opposite be ready for longs.
Forgot to mention the candlesticks on 1H chart at the SD/round nr. This is often called a 'railway track' reversal pattern, and if you switch to 4H chart it will show a big fat spike/hammer give it a name, anyway a bullish heads up. That's why I like to have candlesticks on the chart, it will tell you something.
GBPJPYH117-4-21.png


Re: Trading Pullbacks System

#482
Meyney wrote:
Sat Apr 17, 2021 5:16 pm
Forgot to mention the candlesticks on 1H chart at the SD/round nr. This is often called a 'railway track' reversal pattern, and if you switch to 4H chart it will show a big fat spike/hammer give it a name, anyway a bullish heads up. That's why I like to have candlesticks on the chart, it will tell you something.
Then again - supprt & resistance (button by Banzai) could also explain "everything" in its own way:
GBPJPYH1.png

Re: Trading Pullbacks System

#483
josi wrote:
Sat Apr 17, 2021 5:40 pm
Then again - supprt & resistance (button by Banzai) could also explain "everything" in its own way:
Sure it is just what you like to have on the charts, in general I like the combination SD+round nr's more but this is a nice example of the 1+4H S&R

Re: Trading Pullbacks System

#484
sal wrote:
Wed Apr 14, 2021 1:20 pm
thanks for your suggestions.. FYI... stoch/nice indi is just see the ob/os situation for additional confirmation.
The new idea i did test and found effective .... see the chart neat and clean..:)

Hi sal I noticed in your picture, price has started to pull back towards the moving average, blue support and the vertical blue line, I can see aswell you have 2 blue dops pointing out tops and bottoms, witch indicator is this? because I find it hard to point our valid tops and bottoms, The biggest thing I'm struggling with atm is to know and see when there is a valid pullback and when to enter,
I'm use to trading technical analysis but I'm looking to practice and learn price action.
Thanks
For all your knowledge guys
Regards
Clayton

Re: Trading Pullbacks System

#485
josi wrote:
Sat Apr 17, 2021 5:40 pm
Then again - supprt & resistance (button by Banzai) could also explain "everything" in its own way:
by the way Josie I suspect this Support H4 dotted line on the chart is new After the touch was made , I can not find a previous support here on H4 what do you think.


Re: Trading Pullbacks System

#486
Meyney wrote:
Sat Apr 17, 2021 10:49 pm
by the way Josie I suspect this Support H4 dotted line on the chart is new After the touch was made , I can not find a previous support here on H4 what do you think.
Sadly, very possible indeed.
Ruins my beautiful screenshot, doesn't it? It always looked somewhat too good to be true.
Great, though, that you took the trouble to follow up on it - that separates the diligent & critical pro from the almost-might-have-beens...

Re: Trading Pullbacks System

#487
Hey...... Whatever one needs as a way of additional confirmation, won't come from other indicators. it must be something related to what already makes this system so enigmatically attractive...... A combination of moving averages.... So I just added one more moving average with a longer view perspective and suddenly the language of the chart totally changed..... It became more communicative in terms of talking about trend direction.... The first screenshot and the second screenshot depict the same instrument with different zoom levels.
Screenshot_1.png
Screenshot_2.png

Re: Trading Pullbacks System

#488
Mustafa wrote:
Sat Apr 17, 2021 11:10 pm
Hey...... Whatever one needs as a way of additional confirmation, won't come from other indicators. it must be something related to what already makes this system so enigmatically attractive...... A combination of moving averages.... So I just added one more moving average with a longer view perspective and suddenly the language of the chart totally changed..... It became more communicative in terms of talking about trend direction.... The first screenshot and the second screenshot depict the same instrument with different zoom levels.
Thanks yes a lot of traders watch/have the 200 EMA on their chart me also in the past. This MA often acts as support/resistance was my experience (but not always... ;) )

Re: Trading Pullbacks System

#489
Meyney wrote:
Sat Apr 17, 2021 11:43 pm
Thanks yes a lot of traders watch/have the 200 EMA on their chart me also in the past. This MA often acts as support/resistance was my experience (but not always... ;) )
I wish I could find one phenomenon about which I could say it always works in that particular manner...... It is about all the things one could possibly put on a chart and the conclusion would be that they work sometimes and then don't work sometimes... It becomes a matter of money management to make them work manifold when they work and lose the least when they don't.... So with 200ema I may say that it may work 40% of the time but does not work 60% of the time.... Having this information one may set the risk/reward in such a way that when one is right, the profit is enough to cover the remaining 60% when the ema wouldn't work.... Honestly, I find this system very promising and I want to share my 2Cents to be profitable myself and help others be profitable as well.... And thank you for sharing something everyone may find useful... Live long.

Re: Trading Pullbacks System

#490
Mustafa wrote:
Sun Apr 18, 2021 1:52 am
I wish I could find one phenomenon about which I could say it always works in that particular manner...... It is about all the things one could possibly put on a chart and the conclusion would be that they work sometimes and then don't work sometimes... It becomes a matter of money management to make them work manifold when they work and lose the least when they don't.... So with 200ema I may say that it may work 40% of the time but does not work 60% of the time.... Having this information one may set the risk/reward in such a way that when one is right, the profit is enough to cover the remaining 60% when the ema wouldn't work.... Honestly, I find this system very promising and I want to share my 2Cents to be profitable myself and help others be profitable as well.... And thank you for sharing something everyone may find useful... Live long.
Thanks for the kind wish and you are just right about moneymanagement but I miss a key element (perhaps you are focused too much on indicators and 1 timeframe): BE SELECTIVE = take only trades with high probability=when more signs align; push/corrective/candlesticks/SD/round nr. etc. etc. You can play higher TF's with entry on LTF's for example. I posted some setups earlier. best M.


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