Sincere and humble thanks, If.
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DislikedOedipus,
Many thanks for opening yet another interesting thread. A very neat application of s/r trading.
Which pair(s) do you devote most attention to these days?
BRIgnored
DislikedI do find this approach to be a bit streaky. I am more of an ROI trader than win rate and seeing as I use a 50 pip stop and profits usually run over 100 I can handle it but I do realize the psychological implications of a low win rate and this definitely isn't for everyone.Ignored
DislikedThanks for sharing, this is a very interesting approach.
I am attempting to replicate your charts as first step.
QUESTION: all around there are a lot of versions of pivots. Would you please upload the one you are using, or at least its exact name?
QUESTION: you are using the standard Fib tool in MT, correct? You are drawing, in the first example, from the bottom of the previous day (we are supposedly doing this at 5.20pm EST) to the top, correct?
QUESTION: how do you get, step by step, the 127 retracement?
and, finally:...Ignored
DislikedThen the 50% fib came in but they are a bit far apart. It's nice to have a tighter overlapping confluence.Ignored
DislikedGreat to see today's GU example.
Am i correct in thinking you entered manually? On my chart a pending order last night would have been filled and stopped out at -50....but looking OK now if the entry was made later when price was below the level.Ignored
DislikedI actually had a 100 pip stop on this one. I didn't want to go into it at the beginning but as my entry was at the 50% fib at 5257 and the 127 was so far away 5680, giving me a 4:1 ROI even with a 100 pip stop that was what I used. I wouldn't recommend it in the beginning as if you get into a bad streak with those size stops it will really pee in your cheerios.
And I did place the limit order at 7.00am GMT.Ignored
DislikedHi Oedipus,
What's your take on EU long atm, with the DIBS filter?...just need a sanity check on whether the long side is in play given swissy signalling the same direction.....been thinking about 'flow' alot today
Have a great thxgiving.Ignored