DislikedHi there Najarro:
I read your mail carefully and see that your system is quite simple and robust as it does not give chances to second thoughts. However, I believe that in Forex world few things can be so simple. I have installed and reviewed your templates, and this makes me think that you need an indicator showing situations of possible reversion, in addition to the fibo points.
My suggestion is to add three stochastic, as the system is offered in this forum http://www.forexfactory.com/showthread.php?t=13321 and with them better plan your entries and exits. You do not need to use 4H graphics to increase your profits, you need is the better gauge of 1H. The combination of stochastic tries to capture fluctuations of short, medium and long term –in 1h terms of course- and allow you to move better within fibo retracements. It complements: oscillators indicate over traded situations, and fibo points offer a specific level of prices where such situations may begin and end, plus let you draw fibo points ahead of the zig zag indicator, which you surely has gave you some bad trades in the past.
By the nature of your system, I recommend that you at least use the stochastic 7,5,5 and 31,10,10. The latter will serve as a guide to charting the fibo points, peak to valley, and the first -7,5,5 - as a trigger. Both form patterns wich are recognizable but we must study them carefully before applying them; the graphics will show the general ideas but, I insist that you read very carefully the post cited. The stochastic’s configuration is personal, so it differs from the post; it is a matter of degree because it is the same idea.
Greetings from Aztecs’ land
Forexcompadre.
Note: Reversals fibo have the same color of the cycle which stochastic represent
NOTE: MY SELF AND GOOGLE TRANSLATED.... SO EXCUSE GOOGLEIgnored
Perdone que tarde en contestarle pero estoy estudiando sus propuestas, gracias por sus consejos.
Excuse me that afternoon in reply but I am studying their proposals, thank you for your advice