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-   -   First Pullback Strategy: Simple And Powerful (https://www.forexfactory.com/showthread.php?t=743393)

Stonyheart Mar 7, 2018 1:33am | Post# 21

{quote} please correct me if i am wrong,the break of highest is the previous highest of PA before pullback and right after 50/200 EMA? you can call it 123 entry after break of 50/200 shown like in figure below {image}
It's correct !

Stonyheart Mar 7, 2018 1:36am | Post# 22

It is good that you recognize that any combination of MAs will do. Yet, if you would succeed on a consistent basis with this strategy, as with any other trading strategy, you should recognize the context of price action and in particular the significance of reaction zones, e.g S/R and pivot levels/zones. A pullback to a recent reaction zone or significant flip zone is likely to give very good trading result. Trade safe and prosper. KP
Yes, the power of my strategy is to wait the breakout of highest/lowest after a pullback, you will be automatically out of range and take the trend.

luvene Mar 7, 2018 2:56am | Post# 23

I like your system because it is easy and it has a lot of potential. You can try it too with Renko Bars By example use Renko5. Risk/Reward 1:1. Last Swing High or Low for Stoploss and use this amount of pips for your profit Target. Don't make it too complicated, otherwise you lose......

luvene Mar 7, 2018 3:19am | Post# 24

1 Attachment(s)
Watch the image. I use Renko5 Bars. I use EMA50 (yellow) and EMA200 (aqua). Watch the purple vertical line. Time of crossing. Wait for the pull back and mark that lowest level. I did with the red line. Calculate the distance between the highest price level after the crossing and the red line. Set you Profit level just as far as you did with the Stoploss level, which is 47 pips. . Risk/Reward is 1:1. Of course you can set your own R/R levels, like 1:1.5 or whatever you like. This is an example (!) and you can use a normal timeframe too. However, with Renko's, it is much easier to spot support and resistance levels and they are time independent.

You have to set a BUY STOP order in this example at the blue marked zone. And of course it is much easier to set at that time a bracket order with 47 pips Profit and 47 pips Stoploss. The red horizontal line is your stoploss level, the green horizontal your Take Profit level.
Click to Enlarge

Name: EXAMPLE_RENKO5.png
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Saygin-TR Mar 7, 2018 6:37am | Post# 25

1 Attachment(s)
The chart from Tronner on #post4

Is this a valid SELL signal Stony ? Thanks.

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Name: EURUSDM1.png
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luvene Mar 7, 2018 10:18am | Post# 26

The chart from Tronner on #post4 Is this a valid SELL signal Stony ? Thanks. {image}
I am not Tony but what do you think yourself? You know the answer! Of course my friend! Timeframe is 1M . Nothing wrong with it but it isn't my choice.

Stonyheart Mar 7, 2018 3:53pm | Post# 27

Watch the image. I use Renko5 Bars. I use EMA50 (yellow) and EMA200 (aqua). Watch the purple vertical line. Time of crossing. Wait for the pull back and mark that lowest level. I did with the red line. Calculate the distance between the highest price level after the crossing and the red line. Set you Profit level just as far as you did with the Stoploss level, which is 47 pips. . Risk/Reward is 1:1. Of course you can set your own R/R levels, like 1:1.5 or whatever you like. This is an example (!) and you can use a normal timeframe too. However,...
Yes very interesting

Stonyheart Mar 7, 2018 3:56pm | Post# 28

The chart from Tronner on #post4 Is this a valid SELL signal Stony ? Thanks. {image}
Yes valid entry, no system is perfect but you can filter with the trend on above timeframe

Stonyheart Mar 8, 2018 4:34am | Post# 29

1 Attachment(s)
Possible SELL setup on GOLD (XAUUSD) in 15 minutes:

Click to Enlarge

Name: XAUUSD m15 (03-08-2018 1033).png
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tronner Mar 8, 2018 4:59am | Post# 30

1 Attachment(s)
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Name: DAX30M1.png
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tronner Mar 8, 2018 5:02am | Post# 31

1 Attachment(s)
Hit TP
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Name: 1R- DAX30M1.png
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aaven Mar 8, 2018 5:03am | Post# 32

{quote} Yes valid entry, no system is perfect but you can filter with the trend on above timeframe
Stony Heart,

Is it necessary to use the higher time frame for entry and if so, what criteria is used to define the trend on higher TF? Is it the same crossover of 20 and 50 ema?

Thanks

luvene Mar 8, 2018 5:38am | Post# 33

Hit TP {image}
Why is your TP hit just at that point? Please, can you explain. I mean, what was the reason to set your TP and SL at that point at the moment you open the trade.

tronner Mar 8, 2018 5:57am | Post# 34

1 Attachment(s)
{quote}Why is your TP hit just at that point? Please, can you explain. I mean, what was the reason to set your TP and SL at that point at the moment you open the trade.
Hi luvene.
There was 2 support at that point.
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tronner Mar 8, 2018 9:33am | Post# 35

2 Attachment(s)
Hit TP
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Name: 2- AUDCADM1.png
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Name: 2R- AUDCADM1.png
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tronner Mar 8, 2018 10:04am | Post# 36

2 Attachment(s)
Open XAUUSD and hit BE
Click to Enlarge

Name: 3- XAUUSDM15.png
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Name: 3R- XAUUSDM15.png
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Akolva1 Mar 8, 2018 11:46am | Post# 37

Open XAUUSD and hit BE {image} {image}
Can you post your indicators and template please. I like the look of your charts!

tronner Mar 8, 2018 12:06pm | Post# 38

1 Attachment(s)
{quote} Can you post your indicators and template please. I like the look of your charts!
Here you are
Tpl + ind.zip

Akolva1 Mar 8, 2018 1:23pm | Post# 39

{quote} Here you are {file}
Thanks!

Stonyheart Mar 8, 2018 3:06pm | Post# 40

Nice job tronner !


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