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Attachments: D1 Elasticity Pullback Trading
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D1 Elasticity Pullback Trading

  • Post #1
  • Quote
  • First Post: Jan 10, 2020 7:12am Jan 10, 2020 7:12am
I've been trading Forex for 5 years. 2 years of blowing accounts like every newbie and the last 3 using my own system based on fractals, stoch elasticity hunting pullbacks on trend on D1 charts. Now I make a living out of it with a nice income and 50% growth monthly on average. Pictures talk by itselfs. For elasticity check this threads. Huge thanks to Spudfyre and boxingslife for their contribution and inspiration. Stoch elasticity is the core of my trading approach.

Template and indicators needed:

Attached File
File Type: mq4 Stochastic_NoLastBar.mq4   4 KB | 2,005 downloads
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File Type: mq4 jrcMOD_Fractals.mq4   5 KB | 1,825 download
Attached File
File Type: tpl Stoch elasticity.tpl   3 KB | 1,649 download


Elasticity:

https://www.forexfactory.com/showthread.php?t=13321
https://www.forexfactory.com/showthread.php?t=37111
https://www.forexfactory.com/showthread.php?t=36708
https://www.forexfactory.com/showthread.php?t=22105

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Exit rules:

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Great idea, love to see more
I dont trade H4 but if you need to tight your stops and reduce risk go to H4 and find a better entry. See pictures

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Following
Early bird gets the worm
THE FRACTAL RULE

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Thanks gbdhr

Do you have an actual chart to make your explanation.
USDCAD right now. A major swing low has broken. So break and retest setup plus hidden divergence and elasticity. If third candle closes and confirms v formation I will place A SELL STOP order

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Quoting ghbdr
USDCAD right now. A major swing low has broken. So break and retest setup plus hidden divergence and elasticity. If third candle closes and confirms v formation I will place A SELL STOP order {image}
Thanks, I got it.
Do you use two different settings on the fractals indi?
Same stuff. On this one if a sell is triggered you need to be not so greedy on taking profits because of the regular divergence on the double floor so maybe we will be able to squeeze the last down movement before a new HL is formed. Anyway trade what you see. For now we have a hidden div with elasticity so a down move is expected but probably a small one

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Quoting kofix11
{quote} Thanks, I got it. Do you use two different settings on the fractals indi?

yes. Period 8 and 25
EURUSD

Long setup developing. If the HL holds and a V formation completes will place a buy order but we will see next week


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Quoting ghbdr
{quote} yes. Period 8 and 25
Thanks! How can you achieve that high income? Do you trade only positive swaps and high leverage with small stops?
Quoting kofix11
{quote} Thanks! How can you achieve that high income? Do you trade only positive swaps and high leverage with small stops?

Swap is no problem for me on D1. I make few trades a month but high quality ones.I trade with a widther stop so my winner ratio is high. Account size is important. My lot size is also high. I hold the drawdwn cause I know most are winners. Trading with trend on D1 with price action confirmation is very safe plus elasticity support
  • Post #16
  • Quote
  • Edited at 11:20am Jan 10, 2020 10:48am | Edited at 11:20am
ghbdr,

thanks for sharing your trading method.
Can you give us more details on how you 'count' the candles? After a bit of analysis of screenshots that you posted, I'm still not sure when you start counting the candles. I understand that the 3rd candle should be closed in the trade direction, but how do you decide what is the 1st candle in the formation?
  • Post #17
  • Quote
  • Edited at 12:04pm Jan 10, 2020 11:25am | Edited at 12:04pm
Quoting bopuc
ghbdr, thanks for sharing your trading method. Can you give us more details on how you 'count' the candles? After a bit of analysis of screenshots that you posted, I'm still not sure when you start counting the candles. I understand that the 3rd candle should be closed in the trade direction, but how do you decide what is the 1st candle in the formation?
The candle count is based on the following:

for a call (higer low) candle 1 must have higher low than candle 2, candle 3 should have a higher low than candle 2 also. So candle 2 must have a lower low than candles 1 and 3. candle three is needed to close bullish. For a sell the opposite. When a V formation is completed but price breaks the high of candle 2 for a call or the high of candle 2 for a sell. The formation is invalid and you start look for new formation and count like the example on picture with number on blue.

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Of course the example with blue numbers is only for show you how to reset the count. In this case is not valid because there is no elasticity on stochs
More example of bad trades you should avoid. The fractal rule is important

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THE FRACTAL RULE INSIDE BAR EXCEPTION

FOR BUY

When candle 3 close bearish for a call you wait if this candle is an inside bar. wait for candle 4. If this candle is bullsih at its close we put a buy stop order on its high.

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FOR SELL

When candle 3 close bullish for a put you wait if this candle is an inside bar. wait for candle 4. If this candle 4 is bearish at its close we put a sell stop order on its high.

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