Forex Ideas & Comments 18 replies
Fibonacci thoughts & ideas.... 13 replies
DislikedRiding the same with you buddy. Let us see where we end up today. Perfect trade idea CIgnored
DislikedH1 triangle + bull div.Ignored
Nice charts man On the triangle where do you expect the next touch to be, up or down? The bar which hits both sides of the triangle throws me off.
DislikedI try not to have a bias or expectation. A line, is ALWAYS an opportunity for you to open a position.
1. Formation is in place;
2. There's support @ 87.12;
3. However mid-term-trend is down, we could be looking at a correction north towards fib 61.8;
4. Bullish MACD divergence present;
Therefore, by evaluating probabilities thru TA, we could have a FAIR probability north for short term. However, opening a position in the direction of the main move (trend) is ALWAYS statistically advantageouso ver counter trend positions.Ignored
DislikedThanks for the answer JP. This will help remind me that further confirmation signals can help in choosing the right trade, something I haven't been doing enough of lately. I guess all we can do is just sit and wait to see what PA eventually does in the triangle. If it does break north, we have a good target to aim for.
I would trade this as a 20.6, what do you think?
Aediaz reminded me the other day that a correct 20.6 should have the whole chart on one side, and free space on the other. Some of my 20.6 trades...Ignored
DislikedThis is Igroks cave... Who am I to say anything.
However, I might risk and say that this is a classic 20.6 example.
A fourth or higher approach to the line may make it more successful. We already have 3 touches...
I would say that a break is imminent there. Also, coincidence or not, if you trace a fib line from the top of the line to the LL (whole H1 trend),you'll be able to observe that hte bull divergence coincides with the 38.2 fib retrace level). So, there's another ingredient there.
Also, lets just wait and see if main move...Ignored
DislikedHi Jean Pierre Papin,
Attached follows the indicators.
Below, I came up with a few instructions which I take for my own. Notice, that if you don't quite understand the idea of Range Trading, better stay away.
Instructions for avg_period_range_2_1
showAverageDailyRangeHigh = False
showAverageDailyRangeAvg = False
In my case, I donít skip Sundays because my broker considers Sundays. So I set:
Skip Sundays = false
All the rest, leave default
Instructions for Range Trader
DislikedCould you please explain how you come up with this number?
I thought that the target it's the height of the diamond this will put the target around 1.49Ignored