You're right but the retracement is lethal as I have in GBP/CHF.Stopped out at 20 pips but now i reenter the position. Hope more pips to come.
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Dislikedim just wondering with the current setup are you now looking for long trades or short trades?Ignored
QuoteDislikedHi kien27, I am currently long off today's intraday short level, watching current levels for possibility of shorting since one of the week's bull targets was achieved. We have no other confirmation for shorting just yet.
DislikedSo techincally we should be looking at the general trend from the higher time frame and using Bookus fibs (Fib C) , then taking the daily fib (FIB A) watching the levels then until both are confirming a general direction , then we use Fib B for entry. is that correct??Ignored
QuoteDislikedHi kien, correct except that we use more than Fib B for entry, primary entries are with breaches. But I still have and eye on the general trend before trading against it.
Dislikeddo you take trades of the intraday fib if the 50 level gets breached? are you planning to make any live trade videos? cause that will be great i really enjoy learning this method.Ignored
QuoteDislikedOriginally Posted by kien27
do you take trades of the intraday fib if the 50 level gets breached? are you planning to make any live trade videos? cause that will be great i really enjoy learning this method.
DislikedYes I do. I hope to be able to do that soon. Glad to hear that you do kienIgnored
DislikedHere's a setup I took earlier (M5 chart). Candle before the vertical line retraced nearly to the 50% breach fib and closed below the 19.1% daily fib (white) and was also a hammer. It was also retesting the trendline break. Entered short on yellow line candle. Was fairly confident of it hitting the Daily T1 -34% level (white) as that was well within the averge daily range, which it eventually did...
http://i228.photobucket.com/albums/e...25gutrade1.gifIgnored