Hi
couple of points on your last trades:-
EURGBP - why would you place a buy? the tma bands were clearly against you
USDCHF - your trailing stop was too close, the entry was fine, the stop loss should have been about 0.81595, this has not been touched, by my rough calculations the price hasn't even gone up by more than 15 pips yet
AUDJPY - couple of points, your fib placement, for me the fib should go on the whole of the wave, the first retracement that occurred was not nearly big enough to consider the second move down as a new wave
However that said, with the price already well below the TMA bands, your first target should have been the zero line which it hit
there are 2 main price areas you need to concentrate on in this method when in a trade, how the price reacts at the various band levels, and if using the fib, how the price reacts at the zero line
unless it breaks through these areas with no problem you should be looking to exit
All this has been explained numerous times in the forum, I suggest you go back and read again, particularly helpful are the posts from P.Dean.
In regards to waves and fibs there are various resources and information available on this forum and the web
Regards, John
couple of points on your last trades:-
EURGBP - why would you place a buy? the tma bands were clearly against you
USDCHF - your trailing stop was too close, the entry was fine, the stop loss should have been about 0.81595, this has not been touched, by my rough calculations the price hasn't even gone up by more than 15 pips yet
AUDJPY - couple of points, your fib placement, for me the fib should go on the whole of the wave, the first retracement that occurred was not nearly big enough to consider the second move down as a new wave
However that said, with the price already well below the TMA bands, your first target should have been the zero line which it hit
there are 2 main price areas you need to concentrate on in this method when in a trade, how the price reacts at the various band levels, and if using the fib, how the price reacts at the zero line
unless it breaks through these areas with no problem you should be looking to exit
All this has been explained numerous times in the forum, I suggest you go back and read again, particularly helpful are the posts from P.Dean.
In regards to waves and fibs there are various resources and information available on this forum and the web
Regards, John