happy weekend yall!
i set pending buy order 2 pips above candle 6 (didn't wait for it to close.)
Dislikedhappy weekend yall!
i set pending buy order 2 pips above candle 6 (didn't wait for it to close.)Ignored
Dislikedbefore candle 6, candle 5 would have been the trend extreme bar. so would you not have entered pending order at the high of candle 5 ?
also why you say fibo 38.2 and why not 23.6 ?
by the time you took the trade after candle 6, the move would have been over 120 pips. would that still be a valid setup ?
what is the maximum number of pips we can allow it to go above the 81 pips, and the max number of candles we can wait ?Ignored
Disliked"...entered pending order at high of candle 5?..."
yes you could have, but you wouldv deleted that order, and continued waiting, as soon as candle 5 became too large to stay within the SL requirements.
"...why fibo 38.2 and not 23.6?"
the 38 fibo is our marker for whethor or not the retracement pips have already happenned or not. Although we don't use the 23 fibo for entry in this system, the 23 functions better as an entry level rather than a takeprofit level.
"what is the max number of pips we can allow it to go above 81...?"
"...and...Ignored
Dislikedi meant how many m30 candles do we wait ? before we consider a new 81 pips move.
do you adjust the fibo every 30 minutes as the market keeps on moving, and then base your 38 fibo level according to each adjustment ?Ignored
DislikedHi,
Good and simple trading idea based on candles size.
Will test it.
The H4 candles that you are looking at are based on FXDD.
Other brokers may have different H4 candles.
Should this strategy be based on FXDD's candles?Ignored
Dislikedbeautiful MotherFibbin trade!
by the way, i don't recommend late entries (do as i say, not as i doIgnored
Dislikedthe red bar u highlighted as trend extreme is incorrect. according to the rules, the green long bar before it should be the trend extreme bar. and as this bar was too long, we see it as a no trade and wait for the next 81 pips move.Ignored
Dislikedhi all here sleep?
just i take this trade?
nice system
thank you
good nightIgnored
DislikedMissed that retrace down, but was around for the next retrace up after the next >81 leg down.
Nice quick retrace up (off support) +10pips. I have to work on using trailing stop for these, this trade could easily have given more profit.
cheers scalpz
9hrs later, got some sleep & some charts together.
I got to this 40 min late, didnt have my alerts set, but it still worked out good. 16pip extended bar plus 10 gave 26SL.
1.30786 high of extended bar plus 2 plus 2.3spread (bloody crim) for pending buy stop.
Used 10 for TP as wasn't...Ignored
DislikedIgnored