Starting to show signs of a trend now... so next step is to wait for a retracement...
DislikedHi Musashi, would it be possible to post a template or at the very least your indies, so we can contribute to this thread please, otherwise it's very much like a journal. I mean no disrespect but I'm sure there more people than just myself who would appreciate your system being hands on.
PeteIgnored
DislikedHi Musashi, would it be possible to post a template or at the very least your indies, so we can contribute to this thread please, otherwise it's very much like a journal. I mean no disrespect but I'm sure there more people than just myself who would appreciate your system being hands on.
PeteIgnored
DislikedIf you read his posts and charts you can see that M's method is quite simple. He's basically playing the pullbacks WITH the trend.
The trend is identified using 3 different moving averages. It doesnt really matter which ones - e.g. use 50, 100, 200. When price is above all 3 and the ma's are pointing up + nice seperation then long trades only. Vice versa for short trades.
As for pullbacks, you use stochs to indentify if it is actually a pullback or not. If trend is down (below ma's) then look for a pullback and check that the stochs has pullbacked...Ignored
DislikedHi M, Just having a look at your charts. I was wondering if you could explain what made you stay out of the market in the areas indicated below on one of your charts ? The retracements seem valid to me.
Attachment
Cheers
DanIgnored
DislikedYes you have a good eye for possible trades. Those price bars bouncing off of that xx00 level combined with a previous resistance level is what I look at when trading price alone without indicators.Ignored