hello traders,
welcome to this new thread
The Idea for this thread is to share the Buy or sell setups formed in the market for all pairs based on the candlestick pattern formation on major fib levels(FIBSTICKS). the time frame should be should be minimum one hour and we use the COT report for the direction
Buy setup
1. candlestick pattern on or below 61.8, 50 or 38.2 fib levels
2. check the COT report whether it supports for buy or not
3. the TP is 138.2 or 161.8 fib extensions of previous swing
4. SL must be 20 to 30 pips below the recent low
Sell setup
1. candlestick pattern on or above 61.8, 50 or 38.2 fib levels
2. check the COT report whether it supports for sell or not
3. the TP is -38.2 or -61.8 fib extensions of previous swing
4. SL must be 20 to 30 pips above the recent low
welcome to this new thread
The Idea for this thread is to share the Buy or sell setups formed in the market for all pairs based on the candlestick pattern formation on major fib levels(FIBSTICKS). the time frame should be should be minimum one hour and we use the COT report for the direction
Buy setup
1. candlestick pattern on or below 61.8, 50 or 38.2 fib levels
2. check the COT report whether it supports for buy or not
3. the TP is 138.2 or 161.8 fib extensions of previous swing
4. SL must be 20 to 30 pips below the recent low
Sell setup
1. candlestick pattern on or above 61.8, 50 or 38.2 fib levels
2. check the COT report whether it supports for sell or not
3. the TP is -38.2 or -61.8 fib extensions of previous swing
4. SL must be 20 to 30 pips above the recent low
Read the chart... Fundies are catalyst...