Trade what you see, not what you think.
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DislikedThe 50% will be the same but the rest will differ and that's important, plus you should look how price reacts to the fibs from after you've drawn and not previous to the high (your example)
Yes I mean reverse the way of drawing the fib, read some stuff about using fibs if you haven't.Ignored
DislikedKarmo,
Do you have any Fibo Indi which You use to your chart?
Can you share to us, so we can learn from it.
Thanks,
Still need to be more patienceIgnored
DislikedThanks a million bro. these are the books that I read cover to cover over the last 6 months. I'm now applying the theory to practice, this is why I needed a confirmation.
Technical Analysis: The Complete Resource for Financial Market Technicians
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
Schwager on Futures: Technical AnalysisIgnored
DislikedYup, but what are the steps?
which prices on which TF to be apply on?
So, when you show us, at least me, could understand more, why you take Buy/sell order according to our Fibo projection.
Thanks for your reply,
Still look for Patience!Ignored
DislikedHave a look at the charts I've posted, usually most of my charts include fibs with an explanation. Also check out my analysis thread, there are plenty of charts with explanations and all. If you have any other questions, please do ask. Good luckIgnored
DislikedOk, I'm gonna start building longs now..
Long GJ @ 211.39
Long GJ @ 211.00Ignored
DislikedOk, I'm gonna start building longs now..
Long GJ @ 211.39
Long GJ @ 211.00
Long GJ @ 209.99Ignored
DislikedYes, I'm not trading based on hourly chart or anything less, patience is needed and drawdown of such is very normal with this pair.Ignored
DislikedYes, I'm not trading based on hourly chart or anything less, patience is needed and drawdown of such is very normal with this pair.Ignored
DislikedTechnically... these drawdowns would be covered by the swap rates over the long run... I don't think this pair would drop under 200 any time soon. and if it does you can detach from it and get back in @ 200 after it has droppedIgnored