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D1 Elasticity Pullback Trading

  • #481
  • Feb 17, 2020 10:28am Feb 17, 2020 10:28am
Quoting ewebb205
the 4hr is looking bullish but possibly a last push higher before turning lower? just an idea anyway. any suggestion?
Its a valid setup for me. Just wait for the V formation
Trade what you see
  • #482
  • Feb 17, 2020 10:34am Feb 17, 2020 10:34am
Quoting gabba
{quote} thank for your answer. so the 123 candle pattern should not just have some kind of v-shape. it has to meet detailed criteria to serve as an entry signal?
The context is important. On that particular trade discussed you have a 3 bar bull reversal formation with a Big bull candle. I like to see the price movin before taking the decission. On your trade for validation price should go up a few candles not in the Next one after the 3 bar reversal bull. Its really simple. Buy low and sell high
Trade what you see
  • #483
  • Feb 17, 2020 11:09am Feb 17, 2020 11:09am
Quoting ghbdr
{quote} Its a valid setup for me. Just wait for the V formation
Thank you
  • #484
  • Edited 4:38pm Feb 17, 2020 2:35pm | Edited 4:38pm
Quoting ghbdr
{quote} The context is important. On that particular trade discussed you have a 3 bar bull reversal formation with a Big bull candle. I like to see the price movin before taking the decission. On your trade for validation price should go up a few candles not in the Next one after the 3 bar reversal bull. Its really simple. Buy low and sell high
thank you. I see, as always in trading, patience is key. let's see how NZDUSD develops
I'm currently also watching GBPUSD for possible short and AUDNZD, USDCAD for possible long setup
  • #485
  • Feb 19, 2020 9:30am Feb 19, 2020 9:30am
long on USDCAD

Please correct me if i am wrong?

This Strategy can up to 70% win rate...it's good for part time trader =)
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  • #486
  • Feb 19, 2020 10:50am Feb 19, 2020 10:50am
Quoting Jos3ph
long on USDCAD Please correct me if i am wrong? This Strategy can up to 70% win rate...it's good for part time trader =) {image}
Hi jos3ph. IMHO the swing high where you labeled TP should be higher than the previous recent swing indicating a trending market. the pullback that you've pointed out can still possibly advance if the v- shaped candles do form correctly but after looking at the elasticity of the stochastic, the slower stochastic hasn't began to turn yet and the fast is already hooking over.
  • #487
  • Feb 19, 2020 10:53am Feb 19, 2020 10:53am
Quoting ewebb205
{quote} Hi jos3ph. IMHO the swing high where you labeled TP should be higher than the previous recent swing indicating a trending market. the pullback that you've pointed out can still possibly advance if the v- shaped candles do form correctly but after looking at the elasticity of the stochastic, the slower stochastic hasn't began to turn yet and the fast is already hooking over.
I think the hammer candle already invalidated that setup since the three prior candles were the v-shaped style. Or maybe the candle count has started over? Waiting to hear from ghbdr since Ive been watching that pair as well
  • #488
  • Feb 19, 2020 11:52am Feb 19, 2020 11:52am
Quoting ewebb205
{quote} I think the hammer candle already invalidated that setup since the three prior candles were the v-shaped style. Or maybe the candle count has started over? Waiting to hear from ghbdr since Ive been watching that pair as well
I bit of Higher TF analysis is needed to fine tune the entries. If you see W1 price action you Will realise of the bullish bías. New LL made and failed attempt to make a new high. Then a bear reversal pattern. I would look for sell only
Trade what you see
  • #489
  • Feb 19, 2020 12:09pm Feb 19, 2020 12:09pm
Quoting ghbdr
{quote} I bit of Higher TF analysis is needed to fine tune the entries. If you see W1 price action you Will realise of the bullish bías. New LL made and failed attempt to make a new high. Then a bear reversal pattern. I would look for sell only
Thank you.
  • #490
  • Feb 19, 2020 1:08pm Feb 19, 2020 1:08pm
Any body can tell me ,my TP is correct or Not? and reason?
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  • #491
  • Feb 19, 2020 1:24pm Feb 19, 2020 1:24pm
ghbdr, do you use breakeven in your trading or not? Or just a trailing stop according to the rules above?
  • #492
  • Feb 19, 2020 7:05pm Feb 19, 2020 7:05pm
Quoting gdkelm
Any body can tell me ,my TP is correct or Not? and reason? {image}
on post 398 and 410 ghbdr was talking about taking profits at the swing that started the pullback. post 291 is a good example of that.
  • #493
  • Feb 19, 2020 7:10pm Feb 19, 2020 7:10pm
Quoting ewebb205
{quote} on post 398 and 410 ghbdr was talking about taking profits at the swing that started the pullback. post 291 is a good example of that.
and possibly anticipating a newer highs and lows depending on price action
  • #494
  • Feb 19, 2020 7:14pm Feb 19, 2020 7:14pm
Quoting ewebb205
{quote} and possibly anticipating a newer highs and lows depending on price action
also post 429 as well.
  • #495
  • Feb 19, 2020 9:12pm Feb 19, 2020 9:12pm
Quoting ewebb205
{quote} on post 398 and 410 ghbdr was talking about taking profits at the swing that started the pullback. post 291 is a good example of that.
Thanks My friend.... What is the reason to close EUR/USD trade ? But we can hold that trade. because Weekly Chart having elasticity for short.. According to post 291...
  • #496
  • Feb 19, 2020 11:26pm Feb 19, 2020 11:26pm
Quoting gdkelm
{quote} Thanks My friend.... What is the reason to close EUR/USD trade ? But we can hold that trade. because Weekly Chart having elasticity for short.. According to post 291...
Though that is true. It seemed like there was a bullish candle that formed during the time of the post that could have signaled a move against the established profit and being that the first support level that initiated the pullback is the safest trade to tp like on post 410, it was probably safer not to be greedy including divergence on the weekly. Hopefully I'm somewhere in the ball park after all this is just my opinion from my analysis.
  • #497
  • Feb 19, 2020 11:28pm Feb 19, 2020 11:28pm
Quoting ewebb205
{quote} Though that is true. It seemed like there was a bullish candle that formed during the time of the post that could have signaled a move against the established profit and being that the first support level that initiated the pullback is the safest trade to tp like on post 410, it was probably safer not to be greedy including divergence on the weekly. Hopefully I'm somewhere in the ball park after all this is just my opinion from my analysis.
I just took profit on gbpusd since price is a little stretched out and a retracement is highly probable after today's 100 pip candle is established
  • #498
  • Feb 19, 2020 11:39pm Feb 19, 2020 11:39pm
Quoting gdkelm
{quote} Thanks My friend.... What is the reason to close EUR/USD trade ? But we can hold that trade. because Weekly Chart having elasticity for short.. According to post 291...
I read more of the eurusd short he did on post 291and the explanation is on post 308. Price being in the oversold zone and at the support level that started the pullback. I remember reading that price entering ob/os territory is a valid reason to take profit.
  • #499
  • Feb 20, 2020 12:01am Feb 20, 2020 12:01am
Quoting ewebb205
{quote} Though that is true. It seemed like there was a bullish candle that formed during the time of the post that could have signaled a move against the established profit and being that the first support level that initiated the pullback is the safest trade to tp like on post 410, it was probably safer not to be greedy including divergence on the weekly. Hopefully I'm somewhere in the ball park after all this is just my opinion from my analysis.
Thanks ewebb205... "pullback is the safest trade to tp" That is the point..
  • #500
  • Feb 20, 2020 12:06am Feb 20, 2020 12:06am
Quoting gdkelm
{quote} Thanks ewebb205... "pullback is the safest trade to tp" That is the point..
I think you mean the first support/resistance is the safest place to take profit or at least take some profit and let the rest run for a chance to gain more/ next support or resistance
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