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Before you decide on "at the edge" versus pullbacks, please consider just going with the first four MACDs. (There are many good runs after pivots that have no pullback. Just look at TF 9:25 Central Time yesterday.) Consider waiting for the 610 to reverse. It often does so after the pullback or multiple pullbacks. Then you're in pretty good shape either way. Of course sometimes the 610 reverses as the edge is being tapped, now that is heaven.
My question is does it worth to take a risk taking trade on that pivot if you could be done by that time taking trades from the pull backs? To me pull backs seem safer with less risk.
Looking at today's charts wouldn't you consider first three signals looking at 4 MACDs? So as you can see you would take three losses, but if wait far pull back you would be safe.
I'm not saying that everybody should trade pull backs. And I'm not saying that you are wrong. I just think that everybody should decide what works better for them. As I understand Blue trying to change his strategy because getting on the edge doesn't work for him so well and he wants to try something different.
Just let him try and decide himself what works for him better!!!
I don't have straight rules about 23/38. I just want to see that price fail making new low/high and weak macd on the pull back. On the picture you can see two setups I really love. You can see nice pull backs with beautiful bull flags on MACD. Sure I'm looking on other MACDs.
If we talk about retracement you can get you fibs from different pivot and if you look at the first setup it didn't hit 23% from the bigger pivot but it was 23% from the closer one. And second setup was 23% at one set of fibs and 38% on another one. Sometimes it's not that clear and if I missed entry from the small pull back I'll look at the next one. If MACDs telling me that we still moving in that direction I'll get in.
Very happy with my entry and exit. I probably scaled a bit too soon, but it was glaring down. The 1 gift was surprise to me and 1 tick made the difference.
I started trading at 3:40 because I had a meeting.
I was away, just got back looks like i got out early i shouldve stayed in abit more.... anyways good to know you profited... Kbit i wish everyone follows my #'s take them serious like a few of you guys do....
Well originally I found it here Using a 123 Reversal Pattern for an Intraday Trading Entry Signal and I tried to combine it with E-mini Academy strategy. Because EA don't get in reversal trades and I wanted to get more profit from the whole run than getting just a part of it. You can see it in my first videos.
Then I was looking at NFT setups and some other stuff. With all that information I kinda forgot about it. Then I've heard in one of the Horst's videos "I should've waited for a pull back" then Blue said "I have to learn to get in on the pull back" and something clicked in my head "That the setup I've been using originally!". You can look at it like get in on right shoulder or right side of the head.
This helps me with to stay out of the market when it's not ready for revers. Before I would get at 76% then it moves to 89% takes me out and I get in again, it goes to double top/bottom I get in again, brakes through I get fibs from the next pivot and 76,89,100 again. By the end I have bunch of trades and tons of losses.
When you combine that setup with fibs and MACDs it works pretty well