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D1 Elasticity Pullback Trading

  • #441
  • Feb 8, 2020 9:15am Feb 8, 2020 9:15am
Quoting gabba
Hello, I see a few entry possibilities for next week and I'd like to share them. Comments and corrections are welcome and appreciated. CADJPY short. Daily - price went through support and came back to it, now completed 123 candle pattern, elastic stochastic 4H - stochastic divergence {image} {image} CADCHF short maybe after Monday candle close Daily - price tests s/r after having gone through it, elastic stochastic. if Monday closes with a bearish candle it could be interpreted as a sell signal 4h - stochastic divergence {image} {image}
Please check Hidden divergences. You are considering a Hidden H4 bullish div for a D1 short? This is wrong
Trade what you see
  • #442
  • Feb 8, 2020 10:22am Feb 8, 2020 10:22am
Quoting ghbdr
{quote} Please check Hidden divergences. You are considering a Hidden H4 bullish div for a D1 short? This is wrong
Thank you for pointing that out. I have to get more apt in reading those divergences.
In this case, does the hidden 4h bullish divergence indicate to stay out of the D1 short setup and not to place any orders?
  • #443
  • Feb 8, 2020 11:49am Feb 8, 2020 11:49am
gabba, regular divergence is the reversal and hidden is the continuation pattern.

Attached Image
  • #444
  • Feb 8, 2020 2:40pm Feb 8, 2020 2:40pm
Quoting gabba
Hello, I see a few entry possibilities for next week and I'd like to share them. Comments and corrections are welcome and appreciated. CADJPY short. Daily - price went through support and came back to it, now completed 123 candle pattern, elastic stochastic 4H - stochastic divergence {image} {image} CADCHF short maybe after Monday candle close Daily - price tests s/r after having gone through it, elastic stochastic. if Monday closes with a bearish candle it could be interpreted as a sell signal 4h - stochastic divergence {image} {image}

I was looking CADJPY too. Good spot.
  • #445
  • Feb 8, 2020 2:42pm Feb 8, 2020 2:42pm
Quoting gabba
{quote} Thank you for pointing that out. I have to get more apt in reading those divergences. In this case, does the hidden 4h bullish divergence indicate to stay out of the D1 short setup and not to place any orders?

CADJPY H4. Not "as manual" but anyway i see it short.
Attached Image
  • #446
  • Feb 8, 2020 4:36pm Feb 8, 2020 4:36pm
Quoting bopuc
gabba, regular divergence is the reversal and hidden is the continuation pattern. {image}
thank you very much, bopuc.
than clarifies a lot
  • #447
  • Feb 8, 2020 4:37pm Feb 8, 2020 4:37pm
Quoting MrGreen95
{quote} I was looking CADJPY too. Good spot.
let's see how it's going to develop
  • #448
  • Feb 9, 2020 4:14pm Feb 9, 2020 4:14pm
@ghbdr

I'd like to know when you trade using this methodology, do you care what day it is today?
I know some traders not taking any trade on Mondays, I'm not sure whether you do the same.

Thanks,
  • #449
  • Feb 9, 2020 5:01pm Feb 9, 2020 5:01pm
Quoting Xxyy
@ghbdr I'd like to know when you trade using this methodology, do you care what day it is today? I know some traders not taking any trade on Mondays, I'm not sure whether you do the same. Thanks,
I dont care of the day. I only trust price action
Trade what you see
  • #450
  • Feb 10, 2020 3:23am Feb 10, 2020 3:23am
Anyone can correct me?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot_20200210_172117_net.metaquotes.metatrader4.jpg Size: 507 KB
  • #451
  • Edited 7:22am Feb 10, 2020 7:04am | Edited 7:22am
GBPNZD long
price broke and came back to s/r, elastic stochastic
TP 1R around previous high

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDDaily.png Size: 53 KB
  • #452
  • Feb 10, 2020 9:44am Feb 10, 2020 9:44am
Quoting gabba
GBPNZD long price broke and came back to s/r, elastic stochastic TP 1R around previous high {image}
Good luck, spreads 85, i can't survive with it.
  • #453
  • Feb 10, 2020 9:48am Feb 10, 2020 9:48am
Could you say about EUR/AUD?
https://gyazo.com/c04f52d4664c310ca3f166132f691af4
  • #454
  • Feb 10, 2020 10:36am Feb 10, 2020 10:36am
Quoting Big Lucky
Could you say about EUR/AUD? https://gyazo.com/c04f52d4664c310ca3f166132f691af4
I would have entered one candle earlier, order above the hammer. it's a candle rule exception
(CADCHF might display a similar scenario after today's candle close. here with a shooting star)
  • #455
  • Feb 10, 2020 2:35pm Feb 10, 2020 2:35pm
here's a setup developing for gbpcad

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADDaily.png Size: 41 KB
  • #456
  • Feb 10, 2020 6:55pm Feb 10, 2020 6:55pm
Quoting ewebb205
here's a setup developing for gbpcad {image}
the candlesticks don't really meet the rules.
if I have understood it correctly, we need a V shape where the third candle should have a higher low than the second candle
those criteria are not met on GBPCAD
  • #457
  • Feb 10, 2020 7:17pm Feb 10, 2020 7:17pm
Quoting gabba
{quote} the candlesticks don't really meet the rules. if I have understood it correctly, we need a V shape where the third candle should have a higher low than the second candle those criteria are not met on GBPCAD
yes thank for your response as i been waiting to hear from someone and especially you since youve seemed to grasp the concept so well. Though I do feel as if this is a developing setup maybe the next candle will be a triggering candle if we get a higher low with a bullish close. would you agree then?
  • #458
  • Feb 10, 2020 7:39pm Feb 10, 2020 7:39pm
Quoting ewebb205
{quote} yes thank for your response as i been waiting to hear from someone and especially you since youve seemed to grasp the concept so well. Though I do feel as if this is a developing setup maybe the next candle will be a triggering candle if we get a higher low with a bullish close. would you agree then?
I would prefer for ghbdr to comment on this, so that it broadens my comprehension, too.
as far as my understanding goes, the first two candles should be bearish and the last one bullish.
if the next candle closes with a higher low, the v shape criteria are met. however it might be a bit late for a trade entry, as the reversal has taken place already.
  • #459
  • Feb 10, 2020 7:54pm Feb 10, 2020 7:54pm
Quoting gabba
{quote} I would prefer for ghbdr to comment on this, so that it broadens my comprehension, too. as far as my understanding goes, the first two candles should be bearish and the last one bullish. if the next candle closes with a higher low, the v shape criteria are met. however it might be a bit late for a trade entry, as the reversal has taken place already.
well alrighty than fellow trader. let the understanding begin...... ghbhr? care to comment?
  • #460
  • Feb 11, 2020 12:09am Feb 11, 2020 12:09am
Quoting gabba
{quote} the candlesticks don't really meet the rules. if I have understood it correctly, we need a V shape where the third candle should have a higher low than the second candle those criteria are not met on GBPCAD
Correct. Second candle should have the lowest low. And third candle should close in trade direction. Please see the link.

https://www.forexfactory.com/showthr...2#post12697572

Regards,
Blackeagle
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