hi all
any body know where we must put the support fibo level please tell me?
any body know where we must put the support fibo level please tell me?
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Dislikedhi all
any body know where we must put the support fibo level please tell me?Ignored
Dislikedhi all
any body know where we must put the support fibo level please tell me?Ignored
DislikedIf we miss the break of the lows, are we left with trading anything else?Ignored
DislikedLooks to me like major correction C wave might just have came to it's end at 8510, since it bounce of the MAJOR 61.8% level at 8619 and closed the day just over it at 8662. And it also show a nice daily pin bar over this support. And the Full Moon is this Sunday. HUMMM..If the mental giants (central bank) stop buying dollards, we`re finally in for a reversal! ... I did not catch a pip of that 1600 pips drop, since it almost never showed proper 38.2 or 61.8 bounce, instead i traded some other pair and got screwed up more then i wished for... I suffered a 25% draw down over these past 2 weeks and i did not hold to my planned strategy at all. I expected a ranging month and we have been in one of the most down trending 2 weeks of my trading carrer. The lessons i learned out of that: AUGUST is BUSINESS as USUAL.Ignored
Dislikedhi bo
i want know this picture is correct or not? if there is then we can place fibo level in
thanksIgnored
DislikedHi, Bobokus
I want to learn the Buy / Sell Stop order to enter the trade, but I always worry about false break on fib levels, so I use market order, but when the movement was fast, I entered very late by retrcements. I read all the entry topic in your posts again, and hope you can give me more tips to build my confidence.
In your posts, you gave us some scenarios.
a) If price is above the Long fib of intraday, and comes down to test it and bounces off it is staying long.
b) If price is below the Short fib of intraday, and comes up and test it then is rejected price is staying short.
c) If price is below Short fib of intraday and comes to the 50(Pivot) of intrday fib and breaks above the (Long fib) it is going Long, the reverse
d) If price is above Long fib of intraday and comes to the 50(pivot) of intrday fib and breaks the (Short fib) it is going short.
By using the swing fib for assistant, the entry stop orders of above scenarios would be
a) buy stop on break of Long fib of swing and object is T1 or T2 of swing.
b)sell stop on break of Short fib of swing, and object is T1 or T2 of swing.
c)buy stop on break of Long fib of intraday, and object is T1 or T2 of intraday.
d)sell stop on break of Short fib of intraday, and object is T1 or T2 of intraday.
I have more scenarios below.
e) If price is above the Long fib of intraday, and comes down to test Pivot or Short fib of intraday and bounces off it, price is probably on range if it does not break long fib of intraday.
f) If price is above the Long fib of intraday, and comes down to test Pivot or Short fib of intraday and bounces off it and break of Long fib of intrday, it is going long.
g) ) If price is above the Long fib of intraday, and come down but not even test Long fib then goes up again, it staying long.
h) If price is below the Short fib of intraday, and comes up and test Pivot or Short fib of intrday then it is rejected, price is probably on range if it does not break short fib of intrady.
i) If price is below the Short fib of intraday, and comes up and test Pivot or Long fib of intrday then it is rejected and break of Short fib of intraday, it is going short.
j) If price is below the Short fib of intraday, and comes up but not even test Short fib of intraday then goes down again, it staying short.
By using swing fib for assistance. The entry stop orders would be
e) none.
f) buy stop on break of Long fib of intraday, object is T1 or T2 of intrsday fib.
g) buy stop on break of Hig fib of intraday, object is T1 or T2 of intraday fib.
h) none
i) sell stop on break of Short fib of intraday, object is T1 or T2 of intraday fib.
j) sell stop on break of Low fib of intraday, object is T1 or T2 of intraday fib.
Bobokus, those are my understanding after study, and I tried to get clear pictures in mind to make trade plan. Please correct me if any misunderstanding and help me to figure out
1)When do I place the buy or sell stop order? after discretion of status and after or before London session opened?
2)How many pips far from break levels is the buy or sell stop price? I mainly trade EURUSD and GBPUSD?
3)When maket is on range of intraday fib, how we trade?
And I also invite all the traders to share your comments.
Kepp learning and working hard.
Thanks advance for Bobokus’ priceless help.Ignored
Dislikedi think u must add this :
if price is below the Short fib of intraday, and comes up and break short fibo and stay between short and pivot or comes up and break the pivot and stay between pivot and long it can be range
if price is above the long fibo of intraday and comes down and break long and stay between long and pivot or comes down and break the pivot and stay between pivot and short it can be range
some times price comes below or above the short and long pivot and then in the next candle go up between short and pivot or go down between long and pivot how we must consider that .Ignored
DislikedI always try to follow daily chart patterns since i found out they often work well. Even if sometimes their are hard to follow. July 24 to july 31 period prior to the down fall was a confusing period for me. But i should take lessons out of it!.
First. july 24, 25 and 28 showed a superb Double Inside Bars pattern. I even mentionned it here when it happened (post 4589).
On July 29 we had a bottom break wich showed us the direction.
July 30 ans especially july 31 was two confusing day hard to trade especially the news on the 31, and wide enough to take any stop for most short position someone would have taken upon the dibs pattern.
August 1st was a book trade if i would had stick to my short trade without running with a mere 30 pip on the evening of the 31.
Then came misery for me, none of these day i was able to catch a 38,2-61.8 retracement at the time i was home. Only on the 13 august between 3 and 4 am i could had catch at 50% retracement and on the 14 during the evening but i had no heart to short an already way oversold pair with an off-hour trade.
If i would have trade the daily chart i could had made some decent pips, but only trading the hourly i was not able to catch a single trade... So based on these facts, i decided it was time for me to include daily trading. So i will trade 2 different time frame. the daily, and the hourly only when it shows a proper trade at a decent time for me poor EST day time worker.
No regrets. Only well learned lessons.
I see silver and gold also trading very low , watching them very closely now. Euro still show no strength signs. But it`s time for euro to show respect to the pound and lost some more weight. I see eurgbp come back to .7500 it's now at 7870.Ignored
DislikedHi, Bo
Thank you for giving us a learnig session at 2pm central time tomorrow, but unfortunately I have to work 3-11pm EST. Anyhow I will learn later when I come back home.
Keep learning.Ignored