D1 Elasticity Pullback Trading

Hello all, I am having huge problems posting as we have large numbers of visitors to our erea for easter break overwhelming the internet. I shall try and post a follow up chart showing how setting targets can have a very positive effect on our trading for the simple reason it adds a psycological bonus and simple order to trading as trades are completed. You can see I use a very important 400% exit target where the trade is completed no exceptions if the trade gets there. The method also uses exits at logical pre set points if the market turns back over those lines. Refer to my my past chart for detail. With shorter time frame trading it is essential that you set targets to realise a balanced overall profit as going for a two to one target will not pay unless you are a very experianced specialist low commission trader. At the moment Gold is flying and making it easy for us so give it your all. Happy trading.

1 hour 100 MA and middle of the swing

Gidday all, I shall put my thoughts to why it is extremely important to have a trading expectancy greater than two to one and qualify my above reasoning for targeted trading. For a start a 2 to 1 ratio is doomed to failure for all except the highly experianced traders and for them they may survive at best. Broker records show that we only get 50% right so immediately that brings are odds back to 1 to 1 on a 2 to 1 account. Now on top of that we have commission, slippage and spreads to add so a slow death is inevitable. How do we survive when the odds are now down to 30%. Increase your target from 2 to 1 to 4 to 1 and account very carefully how you trade by controlling percentage and position size. Here is a very simple mathmatics to show how targets must be met to get there. If you complete 10 trades and lose 7 at $1.00 at your stop loss and the 3 winning trades are $2.00, $3.00, $4.00 it means that you have lost $7.00 and won $9.00, there are two points to be made here, you must have a expectancy greater than one and that winning percentage alone does not guarantee or determine if your trading system will be successful after all the above win rate is 30%.
Up untill now I have not tried to pick turns and trade them, On the above charts I allow the market to show me it has turned and confirmed its direction with a bounce in the opposite direction, after all these are break out trades I may change that to include turn trades now that Im using the above taught stochs with over sold and over bought indics. Well enough of my ramblings and hope this helps some, I have collected some of the above instruction over many years and added it to my thoughts. One absolute is that you can not know how you will respond to live trade action untill you go live and expose all emotions to the surface. Good luck.

Back from holidays so no trading. Only one sell running on Dow. Support becomes resistance plus elasticity

Quick scalp

EURUSD using 1.618 fib + elasticity

Didnt manage well my DCA in to the position, will try to re enter on LTF

Elasticity MTFs, look at Daily and H4 readiness to go up
Nothing is certain, for sure but the reasonable risk taking pays dividends, over 1000 point5s move so far, even if it is a dead cat's bounce

EU bounced from the 0.5 of the overall trend, 1.27 fib and 4 H elasticity

Good day to everyone. GU some clues were pointed out.

a lot of good stuff down here for a scalp. 161.8 fib, wmid and QH3

Just a very cheeky M15 trade that I would normally not even attempt because volume is way to small. As can see bars are very small with very little strength, Stop has been moved to entry according to rules when passed the 1.1 line so can not lose, will close this trade at the 2.1 with computer until Euro open. Would normally set trade conditions to the spaced line blue box, which would increase target but I have been using traders instinct to place this trade at reduced risk. It is always OK to over rule a no exceptions method when market has changed its normal patternation and action. It is great to see many quality posts, just keep in mind that the chart action overrules every indicator, keep it simple and chart scaling is very very important. Good luck and happy hunting. Happy hunting.

shorting GU on the 1.618 following the 1H trend

bought UCAD on the Weekly open nice bounce for now

bubblegum fight

I was with you mate.

I wish everyone a good week.

GU

Bought at the sweep of the Asian session

followed the strong move up from DL5 and seeing if buyers are still interested

Bought on the 1.618 level , over sold in 4h and 4h elasticity