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Simple Zigzag + Fibonacci Strategy

  • #81
  • May 11, 2020 7:00am May 11, 2020 7:00am
Quoting MQLTrade
@ moment open trade: UC 1h.... BE +5 {image}
TP
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  • #82
  • May 11, 2020 7:04am May 11, 2020 7:04am
AJ 1h...sell limit 69.53
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  • #83
  • May 11, 2020 7:18am May 11, 2020 7:18am
Perfect movement on GOLD.....but i was on forex trades and i lost entry.....this is the power or Fibonacci Approach: find sensible areas quotes

https://www.forexfactory.com/showthr...5#post12931685
  • #84
  • May 11, 2020 7:24am May 11, 2020 7:24am
Ger30....other perfect movement..... Reversal Zone Stopped UP Swing
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  • #85
  • May 11, 2020 10:34am May 11, 2020 10:34am
CJ 1h....sell stop
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  • #86
  • May 12, 2020 2:32am May 12, 2020 2:32am
Quoting MQLTrade
AJ 1h...sell limit 69.53 {image}
Good morning to all.....AJ hit TP
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  • #87
  • May 12, 2020 2:36am May 12, 2020 2:36am
NJ hit TP
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  • #88
  • May 12, 2020 5:25am May 12, 2020 5:25am
EC 1h....hit TP
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  • #89
  • May 12, 2020 5:27am May 12, 2020 5:27am
Quoting MQLTrade
CJ 1h....sell stop {image}
This is still open.....
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  • #90
  • May 12, 2020 5:29am May 12, 2020 5:29am
Great signal on UsdInd....
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  • #91
  • May 12, 2020 12:05pm May 12, 2020 12:05pm
The Beauty of Fibonacci:

GOLD 4H MULTISWING ANALISYS:

As we can see Gold is a slow surgeon, it's moving from reversal zone to reversal zone......step by step......

A burst will be over 1724 -> 1732/1738
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  • #92
  • May 12, 2020 12:07pm May 12, 2020 12:07pm
Quoting MQLTrade
{quote} This is still open..... {image}
Watch where CADJPY stopped....
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  • #93
  • May 12, 2020 2:45pm May 12, 2020 2:45pm
Quoting MQLTrade
{quote} This is still open..... {image}
Closed manual 3 pips above TP….i hate too long open trades
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  • #94
  • May 12, 2020 2:56pm May 12, 2020 2:56pm
Quoting carddard
I'm not sufficiently convinced that what is laid out in the original rules (even with the oscillators) would make for a good strategy, but I won't discount the tendencies for Fib levels to be points of support / resistance (self-fulfilling prophecy or not). Looking forward to hear if anyone has any success with Fibs - I can incorporate it into code if that works.
Hi carddard! My experience says that NOT ALL WORKINNG can be CODED. Many traders think that EA is the only way to profit but it isn't.

EYES, BRAIN & MONEYMANAGEMENT.... this is the key IMHO….. (& a bit of lucky )
  • #95
  • May 12, 2020 6:27pm May 12, 2020 6:27pm
Quoting MQLTrade
{quote} Hi carddard! My experience says that NOT ALL WORKINNG can be CODED. Many traders think that EA is the only way to profit but it isn't. EYES, BRAIN & MONEYMANAGEMENT.... this is the key IMHO….. (& a bit of lucky )
I'm not sure why you keep harping on this point mate. If discretionary trading works for you, I'm genuinely happy for you. I know both successful discretionary and algorithmic traders, so both ways work. But if one works better for you then go ahead. Use it. Personally, going fully automated works for me because it saves me tons of time and helps me get rid of bad strategies from the beginning. I also get to keep my day job while trading in the background while I work, completely hands-free and emotionless.

One thing that confuses me though, is that your "eyes, brain and money management" is based on an indicator you bought from a commercial member, telling you where to enter, TP and SL. And you enter trades based on those instructions... So.. How discretionary!

I suggest that we get back to the topic that the OP started and see if other harmonic patterns help with trading. That would be a better use of time in my opinion.
  • #96
  • May 12, 2020 8:38pm May 12, 2020 8:38pm
The original rules that the OP posted, could fall prey to the classic ABCD reversal if caught on the wrong side of the ZZ leg.
But it seems be worthwhile looking at with a trend filter, to ensure that you are on the right side of the trend.

The ABCD approach that MQLTrade uses banks on the classic ABCD reversal. With the use of tight stops and other confirmations of a potentially reversing trend, it could be a good approach even if the "reversal" is really just a quick retracement (Assuming that trailing stop is used upon trade entry).
  • #97
  • May 13, 2020 12:56am May 13, 2020 12:56am
Quoting carddard
{quote} I'm not sure why you keep harping on this point mate. If discretionary trading works for you, I'm genuinely happy for you. I know both successful discretionary and algorithmic traders, so both ways work. But if one works better for you then go ahead. Use it. Personally, going fully automated works for me because it saves me tons of time and helps me get rid of bad strategies from the beginning. I also get to keep my day job while trading in the background while I work, completely hands-free and emotionless. One thing that confuses me though,...
I sorry if u read my post as attack to u, it isn't. Discretional or algorithmic approach, doeasn't matter, the important thing is to close end of day GREEN

A new day is coming, green pips to all...and stay safe
  • #98
  • May 13, 2020 1:51am May 13, 2020 1:51am
Quoting MQLTrade
{quote} I sorry if u read my post as attack to u, it isn't. Discretional or algorithmic approach, doeasn't matter, the important thing is to close end of day GREEN A new day is coming, green pips to all...and stay safe
No harm done mate. All is well.

I know you said you bought the indicator from a commercial member here. But would you be able to share more details about how it works? It seems like it is entering trades based on the classic ABCD reversal pattern. Is that accurate?
  • #99
  • May 13, 2020 2:11am May 13, 2020 2:11am
Quoting carddard
{quote} No harm done mate. All is well. I know you said you bought the indicator from a commercial member here. But would you be able to share more details about how it works? It seems like it is entering trades based on the classic ABCD reversal pattern. Is that accurate?
Yes! Fibo Analysis (right chart) show swing by swin potential reversal zone according FIbonacci Approach ABCD. I use it to find areas where quotes could be sensitive e try to advise trader how to move.
Left chat show only potential entries and tp based on fix model or ATR model

I found it very accurate. I wanted something automatic to tell me "Hey we are in a good area to trade according Fibonacci Approach" and it do this fast & great
  • #100
  • May 13, 2020 2:41am May 13, 2020 2:41am
EN 1h, sell stop....
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