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Attachments: D1 Elasticity Pullback Trading
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D1 Elasticity Pullback Trading

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)
Couple of Elastic producing setups...
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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.
Holding mine for a little bit.
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When U allow your emotions to dictate your decisions, U make bad decision
My 2nd trade using this strategy. Made around 90 pips on NZDUSD.
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ON board with you
https://gyazo.com/e1fcd5b1c411132e67916ad2885e2288
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.
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?
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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..
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

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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
Hi, just found this discussion. I think EURAUD already in sell setup. Please advice me my friend.

Thanks
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.
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
Quoting gdkelm
{quote} You are correct..
how did your gbpusd trade go?
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.
Quoting Xxyy
My 2nd trade using this strategy. Made around 90 pips on NZDUSD. {image} {image}
well done
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.
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.
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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