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Candle fibonacci system

  • #1
  • First Post: Jan 1, 2019 7:00am Jan 1, 2019 7:00am
Good morning, and happy new year to all. First of all I want to apologize for my bad english, because I use google translate.
Without further ado, let's go to the system.
The system is very simple, just be aware. All you need is the indicator that marks fibonacci in the daily candle. When the price touches the high or low of the previous day you will wait for it to play in the last swing before it reaches the high / low of the previous day and will trace a fibonacci, soon after you will place pending orders at the point of 38.2, 50.0 and 61.8 with take at 23.6 and stop at 100%. If the price goes at 38.2 and comes back at 23.6 the pedentens orders of 50.0 and 61.8 are to be canceled

Recapping
Buy: If the price touches the high of the previous day you will wait for it to return in the last swing before that touch and it will trace the fibonacci in those points
Sell: If the price touches the minimum of the previous day you will wait for it to return in the last swing before that touch and it will trace the fibonacci in those points
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  • #2
  • Jan 1, 2019 10:09am Jan 1, 2019 10:09am
Sorry. I do not understand your set up.
  • #3
  • Jan 1, 2019 3:15pm Jan 1, 2019 3:15pm
Quoting diamonddbw
Sorry. I do not understand your set up.
What did not you understand?
  • #4
  • Jan 1, 2019 3:48pm Jan 1, 2019 3:48pm
Same here.
Can you take your your first pic, the EURUSD and step by step, explain each one.
  • #5
  • Jan 1, 2019 9:54pm Jan 1, 2019 9:54pm
hi, how are we going to determine the last swing,,thanks
  • #6
  • Jan 2, 2019 2:46am Jan 2, 2019 2:46am
Quoting muqri
hi, how are we going to determine the last swing,,thanks


The last time the price touched an upper row (in case of breaking the previous day's low) is the last balance
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  • #7
  • Jan 2, 2019 2:49am Jan 2, 2019 2:49am
Quoting moodybot
Same here. Can you take your your first pic, the EURUSD and step by step, explain each one.
Quite simply price must make this move here. In the case of sale he needs to make a swing higher than the previous swing and then a break
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  • #8
  • Jan 2, 2019 2:57am Jan 2, 2019 2:57am
Price must do this pattern to characterize the strategy. Sale: Price make a swing higher than the previous one and then break the low swing before breaking the previous high swing. Shopping is the reverse
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  • #9
  • Jan 2, 2019 6:06pm Jan 2, 2019 6:06pm
Quoting Sharkdevil
Price must do this pattern to characterize the strategy. Sale: Price make a swing higher than the previous one and then break the low swing before breaking the previous high swing. Shopping is the reverse {image}
hello, could you pls include the fibo lines and yesterday's hi lo in the above illustration, thank you
  • #10
  • Jan 3, 2019 3:44am Jan 3, 2019 3:44am
Quoting muqri
{quote} hello, could you pls include the fibo lines and yesterday's hi lo in the above illustration, thank you
do not forget to enable only the day's fade in the indicator. Good trades
Attached File(s)
File Type: ex4 Fibo_D_W_M_Y_v1.1.ex4   37 KB | 721 downloads
  • #11
  • Jan 3, 2019 5:09am Jan 3, 2019 5:09am
Thank you for the strategy...I'm still trying to understand the steps,below is my EURUSD chart price has touched yesterday low....can you mark on the chart the steps needed......much appreciated :-)

https://charts.mql5.com/20/38/eurusd-m15-fbs-inc.png
  • #12
  • Jan 3, 2019 5:24am Jan 3, 2019 5:24am
Quoting Sharkdevil
Price must do this pattern to characterize the strategy. Sale: Price make a swing higher than the previous one and then break the low swing before breaking the previous high swing. Shopping is the reverse {image}
I sent you a PM...
  • #13
  • Jan 3, 2019 5:26am Jan 3, 2019 5:26am
Quoting scsstnt
Thank you for the strategy...I'm still trying to understand the steps,below is my EURUSD chart price has touched yesterday low....can you mark on the chart the steps needed......much appreciated :-) https://charts.mql5.com/20/38/eurusd-m15-fbs-inc.png
hello friend ... The EURUSD already gave the entry ... I will cancel my pending orders of 50% and 61.8. I took this ticket today
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  • #14
  • Jan 3, 2019 5:45am Jan 3, 2019 5:45am
It also works in shorter times. Note the entry I made now in gbpusd. Remembering that if you touch 38.2 and go back on 23.6 you have to cancel the orders of 50 and 61.8
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  • #15
  • Jan 3, 2019 5:49am Jan 3, 2019 5:49am
Quoting Sharkdevil
{quote} hello friend ... The EURUSD already gave the entry ... I will cancel my pending orders of 50% and 61.8. I took this ticket today {image} {image}
Thank you for your reply - 38.2 is the sell entry or lower
  • #16
  • Jan 3, 2019 5:52am Jan 3, 2019 5:52am
Quoting Sharkdevil
It also works in shorter times. Note the entry I made now in gbpusd. Remembering that if you touch 38.2 and go back on 23.6 you have to cancel the orders of 50 and 61.8 {image} {image}
I sent you a Private Message. AGAIN
  • #17
  • Jan 3, 2019 5:54am Jan 3, 2019 5:54am
Quoting scsstnt
{quote} Thank you for your reply - 38.2 is the sell entry or lower
The daily fibonacci indicator is just to have a point reference. But it is not mandatory to use. This system can be used in any time frame, not necessarily observe the great movement of the day. You can also do scalping or even swing in greater times. 38.2, 50.0 and 61.8 are always points of entry. However, if you touch 38.2 and go back to 23.6 the 50 and 61.8 should be canceled because it shows that the market has already made the retraction that had to do (excuse the English, I use google translator)
  • #18
  • Jan 3, 2019 5:59am Jan 3, 2019 5:59am
look at the eurusd, can give a good scalping now
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  • #19
  • Jan 3, 2019 7:03am Jan 3, 2019 7:03am
Quoting Sharkdevil
look at the eurusd, can give a good scalping now {image}
guys, the price already came close to 38.2 and came back at 23.6 and did not open my pending order. At that moment I already consider the market withdrawn and I am canceling the orders
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  • #20
  • Last Post: Jan 3, 2019 9:06am Jan 3, 2019 9:06am
AGORA
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