Trade Example #4
Simple Price Action with Fibonacci: Back to Basic
- #44
- Feb 10, 2019 2:46am Feb 10, 2019 2:46am
- | Joined Jan 2008 | Status: Trillion Dollar Man | 1,495 Posts
- #45
- Feb 10, 2019 3:13am Feb 10, 2019 3:13am
{quote} hi remax for buy is it last high for sell is it last low
Just entry between last high and breakout level. For this example, I am using Fibonacci for take profit. You can use any method including Supply and Demand.
- #46
- Feb 10, 2019 3:44am Feb 10, 2019 3:44am
{quote} Can you please be more clear about this also where is your stop placed and any particular timeframe you like ? also your winning ratio please and how big is your tp to your stop ? in your pictures i see you could have entered earlier on smaller highs and lows ? Thank You best regards
. Last high or Last low. Just basic price action.
Timeframe?
Any timeframe will do. Up to you which one you comfortable with. I prefer M15.
Winning ratio?
Winning ratio can be 70%+ if you hit the right breakout.
- #47
- Feb 10, 2019 4:04am Feb 10, 2019 4:04am
- | Joined Jan 2008 | Status: Trillion Dollar Man | 1,495 Posts
{quote} Stop Loss? . Last high or Last low. Just basic price action. {image} Timeframe? Any timeframe will do. Up to you which one you comfortable with. I prefer M15.
can you explain in more detail precisly how you enter please i understand the breakout but not where you enter also is your target always greater then your stop so if your stop is 20 pips your target will be 20 pips or more ?
Thank You.
Best regards
- #48
- Feb 10, 2019 4:33am Feb 10, 2019 4:33am
{quote} is 70 percent typical or is it a good day ? can you explain in more detail precisly how you enter please i understand the breakout but not where you enter also is your target always greater then your stop so if your stop is 20 pips your target will be 20 pips or more ? Thank You. Best regards
Example below was last week trade.
1. Identify the breakout.
2. Do the basic marking. H, L, LH. Make a box. That will be your entry zone.
3. LH will be your SL. (In this case 17 pips)
4. Entry will be inside the zone, as long as the price did not reach Take Profit level, it is valid for you to enter.
1. Breakout candle.
2. Candle that I will enter
- #49
- Feb 10, 2019 9:31am Feb 10, 2019 9:31am
- | Joined Jan 2008 | Status: Trillion Dollar Man | 1,495 Posts
{quote} It will be typical. I hope you give it a try.
How did you come up with tp here in picture 2 ?
Yes i will try it maybe tomorrow even it will be intresting
Best regards
- #50
- Feb 10, 2019 2:45pm Feb 10, 2019 2:45pm
- | Joined Jan 2008 | Status: Trillion Dollar Man | 1,495 Posts
- #51
- Feb 10, 2019 5:57pm Feb 10, 2019 5:57pm
{quote} How did you come up with tp here in picture 2 ? Yes i will try it maybe tomorrow even it will be intresting
- #52
- Feb 10, 2019 6:02pm Feb 10, 2019 6:02pm
Also please how is your dayly trading routine do you mark up any chart and sit and wait or do you search or how do you fin intresting pairs for setups ? Thank You. Best regards
- #53
- Feb 11, 2019 4:00am Feb 11, 2019 4:00am
- | Joined Jan 2008 | Status: Trillion Dollar Man | 1,495 Posts
first price break then wait and Ao breaks when it is moves back toward outbreak in price is this a setup by all rules ?
- #54
- Feb 11, 2019 4:11am Feb 11, 2019 4:11am
first price break then wait and Ao breaks when it is moves back toward outbreak in price is this a setup by all rules ? {image}
I will watch out the big demand zone for Take Profit. Risk Reward will be around 1 : 2.5
- #55
- Feb 11, 2019 4:13am Feb 11, 2019 4:13am
- | Joined Jan 2008 | Status: Trillion Dollar Man | 1,495 Posts
{quote} Yes correct.
Also as you see price have its beakout on the first long red bar but Ao breaks on my arrow many bars later in you picture it is one of the blu bars after the 2 red long bars.
Thank You.
Best regards
- #56
- Feb 11, 2019 4:21am Feb 11, 2019 4:21am
{quote} Can you please explain demand zones? , i have no knowledge about them Also as you see price have its beakout on the first long red bar but Ao breaks on my arrow many bars later in you picture it is one of the blu bars after the 2 red long bars. Thank You. Best regards
Go to Indicator and choose ZigZag.
This is what we call basic swing. That is a clean breakout.
- #57
- Feb 11, 2019 4:30am Feb 11, 2019 4:30am
- | Joined Jan 2008 | Status: Trillion Dollar Man | 1,495 Posts
- #58
- Feb 11, 2019 4:49am Feb 11, 2019 4:49am
{quote} I understand that, but what is see the breakout in price is mutch earlierthen the one in Ao so we wait for AO use lines and you see Ao is later several bars later in breakout thne breakout in price. So e wait for Ao yes ? best regards
