Get started

Pullbacktrade

Gold Pullback Trend Continuation ShortGold is moving towards 1295, the 0.618 retracement of recent gap and .236 fib extension resistance of previous bear leg. The established trend remains bearish and lower lows and lower highs are evident on 240 graph. Higher TFs show that there is a potential for support as continuation of bigger bullish move on weekly might attract demand so staying alert for a serious bull move is recommended. For now, limit sell orders around 1295 with $7.5 stops (ATR*1.8) and 2R-3R target stop buy around 1275 seems to be the reasonable course.
FX_IDC:XAUUSDShort
by Zoen_Trieste
ETHUSD 1H How to Profit from trading PullbacksStep #1: Identify a Bearish Trend which is characterized by a Series of Lower Highs and Lower Lows Identifying the direction of the trend should be a fairly easy process. The easiest method that our team at Trading Strategy Guides likes to use to identify the trend is the swing low and high structure. In essence, an downtrend is defined as a series of lower highs followed by a series of lower lows Note* It’s important to use the higher time frame to determine the trend regardless of the time frame you normally base your trades on. Step #2: Switch to the 1h Time Frame and Wait for a Pullback against the downtrend After successfully identifying the trend, we can switch lower to our preferred time frame. It can literally be whatever time frame you feel more comfortable with but, for the purpose of this pullback trading strategy, we use the 1h time frame. Step #3: Place Your Fibonacci Retracement Indicator between the last swing high and low levels, prior to the pullback. Identify the most recent swing high and swing low and place your Fibonacci retracement indicator between the two swings. Step #4: Sell Anywhere Between the 50% and 61.8% Fibonacci Retracement area After you’ve placed the Fibonacci retracement mark on your chart the area between the 50% and 61.8% Fibonacci retracement and sell as soon as we trade within that area. It’s up to you whether or not to sell as soon as we hit the 50% or to wait for the 61.8%. With experience, you’ll be able to fine tune your entry and profit from trading pullbacks. Step #5: Place the Protective Stop Loss above the Swing High The last swing high used to draw the Fibonacci retracement levels can provide us with a very attractive place to hide our protective stop loss. A break above the last swing high will invalidate the trade so we want to minimize our losses and get out of the trade. Step #6: Take 1/2 Profit once we break below the Previous Swing Low In order to profit from trading pullbacks we need a strategy for taking profits as well. In this regard, the ideal place to liquidate our position is once we make a new low. The market never moves in a straight line and most of the time after we break to new lows a pullback occurs most often than not. So, if you want to be in an out of the market very quickly that’s the easiest way to profit from trading pullbacks. Alternatively, if we want to maximize our profits we can only take half of the profits once we break to new highs and the remaining half of our position to be taken at a Fibonacci extension level. We exited at the -61.8% fib extension. Note** The above was an example of a SELL trade… Use the same rules – but in reverse – for a BUY trade. PM me if you want to read the complete strategy.
BITFINEX:ETHUSDShort
by Tradingstrategyguides
2618 Sell Pattern USOILUSOIL is seemingly done painting a pullback pattern. It reached 0.618 retracement level of previous bear leg, as well the 0.236 fib extension is pointing to the same level. If this market continues with the recent downtrend, these two levels should attract supply and a break to previous lows can potentially occur. The inside fork's MLH on bear impulse move pivots ABC is also anticipated to attract supply around these levels. This is a pullback trend continuation play with a decent R:R but lower probability. Worth the risk as per me.
TVC:USOILShort
by Zoen_Trieste
7
EURUSD Trend Continuation ShortEURUSD is gaining bearish momentum after hitting the 0.618 fib retracement of last bear leg and reaching the upper MLH of inside fork based on the entire bear move since its peaking. The market at this point normalised the oversold condition and the 4H 150 MA is reached, making it a perfect spot for trend continuation players to step in. Selling 1.1790 with a 55 pip stop and looking for a 2R target around 1.1780 seems reasonable - worth a try.
Short
by Zoen_Trieste
GBPJPY PULLBACK FOR SHORT TRADING?Hello guys, For this month my trading review for GBPJPY is SHORT-term. Because what i found on weekly chart there already break lower trendline. So i decide to find KEYS LEVEL for PULLBACK area for enter the short position. This time i will use Stoploss around 200-230pips by the way my average or REAL stoploss trading what i use below 30pips but for this time i take RISK to swing on gbpjpy currency. MY PENDING ORDER : MY LOT 0.10 FIRST PO : 147.810 SECOND PO : 149.120 STOPLOSS : 149.825 (risk 200 pips) TAKE PROFIT : TP 1 :142.930 (winning pips 450) TP 2 :139.820 (winning pips 780) TP 3 :136.810 ( YEARLY TARGET) but not gonna hold my position to this tp.. hahahaha ALL MY RISK ARE CALCULATE FROM FIRST PO. NOTED.
Short
by HakimMahmud
NZDCAD SHORT TERM PULLBACK After the huge selloff on this pair, on the weekly/daily timeframes we have rejected a key support area as well as a long term trend line with a low test candle on the weekly and bullish momentum on the daily. After seeing this, I always look to the intra day charts to see if there is any sign on a trend change. What you can see is a triangle/falling wedge pattern with 4hr MACD divergence and price getting squeezed between the trendline and the key support zone. Right near the apex of the triangle, the bulls took over and made a clear higher high. I am looking to take this first lower high with a good rejection of the 1hr 50ema (which has previously been great dynamic support/resistance), the pivot and 0.382 fibonacci. I will be targeting 0.90 as this has been a respected price in the past.
Long
by joshdonoghoe
EUR/USD Long pullback play Looking to play a short term pullback play on EURUSD. We are at a very nice level of 1.185-1.19 with the weekly looking to form a low test candle at the 50ema. The daily has rejected this area with some strong bullish momentum after deceleration. After seeing this, I go down to the lower timeframes to look for anything that is telling me the trend is changing. On the intra-days we had a head and shoulder pattern with MACD divergence form right at the level of 1.185 before exploding to the upside breaking the 4hr trendline and the 1hr 50ema. Price is now coming back down to test 0.382-0.5 fib, the pivot and the 50ema. I am looking for further deceleration around this area before taking the 5min 50ema break with a 40 Pip stop. Because this is only a pullback play, I will take profit around the daily 50 and 0.382 fib which lines up nicely with the key level of around 1.207.
Long
by joshdonoghoe
Day Trading the Fundamentals - Long USD/JPYWith the DXY still above 93.00 and yields pushing multi year highs, and Core PCE which is the FED's inflation measurement now at 1.90% there is a strong case to be bullish the USD. Having seen a cool down in regional risk sentiment and the unexpected miss on Japanese GDP i can only see the pair going one way. There is a positive rate differential and central bank policy divergence at play here aswell. I managed to get long this pair yesterday from 110.15 to close leg one of the trade at 110.60 I am now looking for a pullback to the 38.2% fib of that move to get back in long to 111.00 The main risk is a turn around in US yields or any kind of risk off sentiment entering the market.
Long
by FX_Trade_Plan
EURJPY - WAIT for a SHORT Below 128.999 A: SUMMARY – WAIT for a SHORT POSSIBILITY @ 128.999 WEEK CHART : 1-Last Thursday 0503 Make a Pull Back, probably now continue DOWNWARDS move!! >also @ 129.516 Zone of WEEKLY S/R >Price at DAY Channel & H4 Channel LOWER Band. DAY CHART : B: This Coming WEEK Analysis: >Look for a Breakout of Day & H4 Channel >SHORT below 128.999 / TP 150PIPS NB: 1-Price Lilely 1st Retrace UPTREND 1st before Heading south (Break Channels) 2-TAKING a LONG - TP approx 60PIPS is possible !! HOWEVER this TRADE will favor a SHORT-To WAIT OUT .. CHEERS .. Stay Nimble-TRADE SAFE !! - WAIT for PRICE to come to you !!
by jeffreyysl
Buy LMT On This PullbackLMT has dropped from an all time high and has retested the support zone as highlighted in the rectangle in the chart. As you can see, LMT has an upward sloping 50 and 200 day SMA. This shows that LMT is in a solid uptrend. Although we are currently below the 50 day SMA, we are still well above the 200 day SMA. Trade Idea: Now would be a good time to buy a half position. You can buy another half on a dip to the 325-330 zone. Your stop loss is just below 325, and your profit exit is around 360. You risk 10 dollars for a reward of 20 dollars. That is a good risk:reward ratio.
NYSE:LMTLong
by bigfry
AUDJPY Offering Short EntryThe AUDJPY has setup nicely for a pullback entry short into an established bear trend. This must be taken at reduced risk for the reasons mentioned below. Monthly - Price is trading inside the annual levels of 2017 but has been in a bear trend since the start of 2018. Weekly - Price is trading below the 200SMA and the 50SMA. Daily - Price is trading below the 200SMA and the 50SMA. Despite price still trading inside the 2017 level, we have alignment between the weekly and daily timeframes. Price has now also pulled back to a key level of support-turned-resistance and formed a long-wicked indecision candle which is a setup we look for when taking pullback trades. Given that price is inside the 2017 annual levels and that this is an entry using a pullback, the risk must be reduced. Full allocation for us at Sublime Trading is 2% per trade so we have allocated a much smaller risk for this currency pair considering the setup. We now want to see price bounce to the downside, break and close below the March low ideally in the form of a bear flag, and move towards the round number 80. We then want to see price break and close below 80 and weaken further towards 70 and beyond in the same linear trend structure. This will then offer ample opportunities to compound strategically into this initial position. Trading PBs has its advantages and challenges. The advantage is, of course, more profit compared to entering in on a breakout. The challenge is dealing with the fact that price may trigger us into the trade but may then continue against us as price forms a reversal. Price may also trigger us in and then move into consolidation where we must then apply patience and wait for the breakout. We must never second guess the outcome of a trade. Each time our edge appears, we must place a trade without hesitation and with the right risk allocated to it. What ever happens next is beyond our control. Remember, a good trade is one where we follow our trading plan REGARDLESS of the outcome. Sublime Trading
Short
by Sublime_Trading