Re: Trading Pullbacks System

#701
notice wrote:
Sat May 15, 2021 1:05 am
As Meyney said, we have to notice the price action. In the picture you sent, I will not SELL , because you see that the price has made a higher high.
yes that is correct, i didnt even realize price had broke market structure until i just read your comment thanks for pointing this out. :)


Re: Trading Pullbacks System

#702
claytonbj88 wrote:
Fri May 14, 2021 9:57 pm
ok so here is a trade that hit my stop loss, EURCAD 1M TF, MA's crossed and price is below, so i placed a big trend line, price broke that trend line, so i waited for a pullback, placing a second trend-line, once price broke that second trend line thats where i got in 3 candles late but was still expecting price to continue to the downside, witch then price shot up going the opposite direction hitting SL
Image
1. when trading 1M charts be selective which pair to trade. why eurcad? Check ADR and spread; most brokers have spread 2 on eurcad so if trading 1M chart you are already 4 pips behind so almost impossible to make money. I did not check eurcad properly (I do not trade it 1M) but check pair spread/ADR ( is it worth it?)
2. Your entry is very (too) late no trendline there
3. You missed al other entries on eurcad before and after, you can not highlight just 1 entry which failed...(and it was not even a valid setup)

Hope this helps best M.
EURCADM114-5-21.png

Re: Trading Pullbacks System

#703
I was watching eurcad because of CLayton's setup and let's assume the spread is a little bit to wide for 1M, switch to higher TF. let's start with 5M. Any volunteers to make /post = example the 1H chart?

best M.
EURCADM515-5-21.png

Re: Trading Pullbacks System

#704
Meyney wrote:
Sun May 16, 2021 2:35 am
I was watching eurcad because of CLayton's setup and let's assume the spread is a little bit to wide for 1M, switch to higher TF. let's start with 5M. Any volunteers to make /post = example the 1H chart?

best M.
1 H chart.
EURCADH1.png


Re: Trading Pullbacks System

#706
Meyney wrote:
Sat May 15, 2021 4:56 am
1. when trading 1M charts be selective which pair to trade. why eurcad? Check ADR and spread; most brokers have spread 2 on eurcad so if trading 1M chart you are already 4 pips behind so almost impossible to make money. I did not check eurcad properly (I do not trade it 1M) but check pair spread/ADR ( is it worth it?)
2. Your entry is very (too) late no trendline there
3. You missed al other entries on eurcad before and after, you can not highlight just 1 entry which failed...(and it was not even a valid setup)

Hope this helps best M.
thanks for your feedback meyney, i trade all pairs in the market, i chose EURCAD because i thought i found a valid set up

Re: Trading Pullbacks System

#709
I have replaced RSI+baseline with RSI+ma crosses, Support & Ressistance with PZ support & resistance, added MA histo, if I use TF 5M then MA histo will be 1H, if I use TF 15M then MA histo will be 4H.
Today, test with new template, GBPUSD TF 5M.
Thanks for teaching me, sir !

Wish you all the best !
1.jpg


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