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D1 Elasticity Pullback Trading

  • #501
  • Feb 20, 2020 12:11am Feb 20, 2020 12:11am
Thanks ghbdr. Trading for 5 years now and this system is the one that makes the most sense in terms of supply/demand or support/resistance. Now I finally feel as if I'm going to be consisently profitable for financial freedom. (in a year or two)
  • #502
  • Feb 20, 2020 12:52am Feb 20, 2020 12:52am
Couple of Elastic producing setups...
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  • #503
  • Feb 20, 2020 7:35am Feb 20, 2020 7:35am
Quoting piptalk
Couple of Elastic producing setups... {image} {image}
Not bad. I wish I would have stayed in the gbpusd. But no need to be greedy.
  • #504
  • Feb 20, 2020 8:06am Feb 20, 2020 8:06am
Holding mine for a little bit.
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When U allow your emotions to dictate your decisions, U make bad decision
  • #505
  • Feb 20, 2020 8:21am Feb 20, 2020 8:21am
My 2nd trade using this strategy. Made around 90 pips on NZDUSD.
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  • #506
  • Feb 20, 2020 11:05am Feb 20, 2020 11:05am
ON board with you
https://gyazo.com/e1fcd5b1c411132e67916ad2885e2288
  • #507
  • Feb 20, 2020 11:40am Feb 20, 2020 11:40am
Does your strategy work for lower timeframes? For example, instead of using Weekly, Daily and 4H charts, use Daily, 4H and 1h charts aplying the same principles.
  • #508
  • Feb 20, 2020 11:45am Feb 20, 2020 11:45am
two potential setups IN DEVELOPMENT. both made a new swing low. both are in a pullback to resistance. both have good elasticity on stochs. just waiting on the v-shape pattern to confirm entry


with eurgbp: weekly looking bullish but expecting one last push down (if setup holds true) before a bullish run.
4hr making a series of hh and hl though little divergence from what i see.


with usdchf: monthly also looking bullish with a bullish v-shape pattern in the making, but still expecting a last push down (if setup holds true).
daily show a series of hh and hl with divergence

though these setups are not yet ready, if they hold together and create the v-shaped pattern, there maybe some potential.
any comments?
Attached Image(s) (click to enlarge)
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  • #509
  • Feb 20, 2020 12:36pm Feb 20, 2020 12:36pm
Quoting ewebb205
{quote} 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
You are correct..
  • #510
  • Feb 20, 2020 5:00pm Feb 20, 2020 5:00pm
Quoting ewebb205
two potential setups IN DEVELOPMENT. both made a new swing low. both are in a pullback to resistance. both have good elasticity on stochs. just waiting on the v-shape pattern to confirm entry with eurgbp: weekly looking bullish but expecting one last push down (if setup holds true) before a bullish run. 4hr making a series of hh and hl though little divergence from what i see. with usdchf: monthly also looking bullish with a bullish v-shape pattern in the making, but still expecting a last push down (if setup holds true). daily show a series of...
I placed a short on EURGBP
early entry second candle exception
nice pullback from previous s/r and elastic stochastic

Attached Image (click to enlarge)
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  • #511
  • Feb 20, 2020 5:28pm Feb 20, 2020 5:28pm
Quoting gabba
{quote} I placed a short on EURGBP early entry second candle exception nice pullback from previous s/r and elastic stochastic {image}
Same here
  • #512
  • Feb 20, 2020 6:38pm Feb 20, 2020 6:38pm
Hi, just found this discussion. I think EURAUD already in sell setup. Please advice me my friend.

Thanks
  • #513
  • Feb 20, 2020 7:12pm Feb 20, 2020 7:12pm
i was looking at that as well but i would like to hear from ghbdr. I try to look for break and retest setups. went out on a limb with gbpusd but the euraud setup looks valid though that the weekly is ranged in an inside bar for now. i just dont like that huge 200 pip candle thats trying to make a v-shape.
  • #514
  • Feb 20, 2020 7:19pm Feb 20, 2020 7:19pm
hey ghbdr. i know you only like to look for break and retest setups but do you think pullbacks to resistance areas are reliable as well? i know that sounds weird but those are potential head and shoulders patterns i been seeing
  • #515
  • Feb 20, 2020 7:27pm Feb 20, 2020 7:27pm
Quoting gdkelm
{quote} You are correct..
how did your gbpusd trade go?
  • #516
  • Feb 20, 2020 7:54pm Feb 20, 2020 7:54pm
Quoting Iniezta
Hi, just found this discussion. I think EURAUD already in sell setup. Please advice me my friend. Thanks
IMHO:
4h suggests a bullish movement with higher lows and higher highs. but it's also heavily overbought as stochastic indicates
on weekly higher high and higher low might also indicate a bullish move

so there might be the chance of a retest of the support level around 1.60770 or at least the broader vicinity of it, however I'd be careful with this one

I suggest to wait for today's candle to close bearish before considering to ride a short term bear move

I myself am not taking this risk. So I don't consider this as a potential trade.
  • #517
  • Feb 20, 2020 8:17pm Feb 20, 2020 8:17pm
Quoting Xxyy
My 2nd trade using this strategy. Made around 90 pips on NZDUSD. {image} {image}
well done
  • #518
  • Feb 21, 2020 12:40am Feb 21, 2020 12:40am
Quoting gabba
{quote} IMHO: 4h suggests a bullish movement with higher lows and higher highs. but it's also heavily overbought as stochastic indicates on weekly higher high and higher low might also indicate a bullish move so there might be the chance of a retest of the support level around 1.60770 or at least the broader vicinity of it, however I'd be careful with this one I suggest to wait for today's candle to close bearish before considering to ride a short term bear move I myself am not taking this risk. So I don't consider this as a potential trade.
Thank you my friend. So its risky to short as H4 and W1 show bullish pattern.
  • #519
  • Feb 21, 2020 2:58am Feb 21, 2020 2:58am
Quoting gabba
{quote} I placed a short on EURGBP early entry second candle exception nice pullback from previous s/r and elastic stochastic {image}
Hi Gabba,
Thank you to GHBDR for your method it is working well so far with me. Gabba I was also looking at a short on EurGbp but I would like to know if you have any thoughts on the fact that the stochastic signal on the four hour contradicts the daily or do you ignore that.
Best of luck Brian.
  • #520
  • Feb 21, 2020 3:22am Feb 21, 2020 3:22am
Quoting Brian214
{quote} Hi Gabba, Thank you to GHBDR for your method it is working well so far with me. Gabba I was also looking at a short on EurGbp but I would like to know if you have any thoughts on the fact that the stochastic signal on the four hour contradicts the daily or do you ignore that. Best of luck Brian.
true, it could be higher low forming on 4h and stochastic is elastic.
in this case I referred to daily chart because of the obvious pullback from s/r.
weekly also supports a bear move at least until previous low
the placed short order order has not been triggered yet.
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