Plan the Trade

The pullback trade is where i make most of my money

Posted purely for the interesting fundamentalist idea it presents:

http://www.zerohedge.com/news/2017-1...appened-nasdaq

So will market see a pullback tomorrow?

Not sure about tomorrow or when. We may have a couple of days of stagnation as price seeks equilibrium first. We have a couple of Naked POC's from last week (correct me if I'm wrong) that are lower on the chart. It really is just a point of interest, considering we are technical traders and not fundamental traders.

I still have them on chart will wait for setup at first one will take second one if it blows threw first one. Might take awhile though

Harold, good afternoon! How is this type of graphs and indicators set up with which you work on the sierachart, can you shoot the video? thank you in advance

Applying Elliott Wave theory and i wouldn't get too worried, if i were invested for the longer term.



Main trend will have 5 waves, clearly we have only printed 3 since the last big correction. Waves usually have alternation too. So because subwave (ii) was short, (simple) and sharp, we should expect (iv) (when it comes), to be long (complex) and shallow. Wave (iii) can go on for a very long time though.

Expect (v) to make repeated new highs until it reaches a top trend channel...

Well, just a bit of fun you understand!)

https://www.youtube.com/channel/UCVV...x-nQqaX_shsufw
I think there is a video about sierra set up here . . .

So, following on from yesterday's open and another chart;



Basically an identical chart set-up as to the one in post 3299. Often, what goes up quickly, also comes back down quickly too.
Again, the gamble is that the prior demand area will be retested, with a 123 that has triggered and retraced for a short fill, (giving the minimum required to call a trend - LL/LH/LL).

So basically we are doing the same as always, 123, trigger, retrace, but on minimal scales. The reason for taking the short trade is because of the speed and size of the prior rise, giving a possible set-up for the retrace.

I just took the trade and had a +13 from it, with initial risk of 6 (my standard auto-stop). Yes there was a risk (especially after the blue line reaction), but these do seem to give the ticks quite regularly. I paused the chart and have no idea if it has further to fall, or will head back up now, but when the pullback has grown a little too large, i like to wait for another 123, trigger etc back into trend, but on a smaller scale.

Example 1;



Example 2;

FIFO

Waiting till it clears 2.25 or low of day

123 potential

Somebody sell? Lol

8475 is pullback

I had an awesome trade at 82.5 just before the upsurge but it didn't get filled...
Also, I keep on getting like phantom orders randomly placed when I didn't place one. It's the second time I'm trying with Sierra and I didn't have so many problems the first time. Anyway, I guess I'll try again on Monday.

I had 1 trade from 8350 for 50

Just missed fill on 2b break and canceled

extreem coming up

Will buy extreme there was a price gap