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Simple Zigzag + Fibonacci Strategy

  • #241
  • Jul 14, 2020 6:55am Jul 14, 2020 6:55am
Quoting MQLTrade
Hi to all! Today many interesting breakout setups.....
GBPAUD open....next to ..... BE + 10 set
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  • #242
  • Jul 14, 2020 7:17am Jul 14, 2020 7:17am
Its a nice and simple strategy,
and you have any other examples.If you have please share with us.
  • #243
  • Jul 14, 2020 7:43am Jul 14, 2020 7:43am
Quoting gj123
Its a nice and simple strategy, and you have any other examples.If you have please share with us.
Hi! Yes it is, very very simple. I like to read easy charts.

GA hits BE+10, maybe to tight but i don't like that a green trade became red one
  • #244
  • Jul 14, 2020 1:41pm Jul 14, 2020 1:41pm
Quoting MQLTrade
{quote} GBPAUD open....next to ..... BE + 10 set {image}
At the END signal was right.....TP was hit .... anyway i'm happy for my BE+10... Green is better than Red
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  • #245
  • Jul 14, 2020 1:44pm Jul 14, 2020 1:44pm
....also EU went to TP...... today all breakouts goes to
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  • #246
  • Jul 15, 2020 2:25am Jul 15, 2020 2:25am
GJ 1H setup
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  • #247
  • Jul 15, 2020 4:04am Jul 15, 2020 4:04am
Quoting MQLTrade
GJ 1H setup {image}
MQL are you now sticking to 1h time frame only as opposed to 4h which you were previously using?
Regards
  • #248
  • Jul 15, 2020 5:10am Jul 15, 2020 5:10am
Quoting howard
{quote} MQL are you now sticking to 1h time frame only as opposed to 4h which you were previously using?
My favourite TF are 1h e 4h....in these days i see simply that 1h had better setup
  • #249
  • Jul 15, 2020 6:33am Jul 15, 2020 6:33am
Quoting MQLTrade
GJ 1H setup {image}
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  • #250
  • Jul 15, 2020 6:46am Jul 15, 2020 6:46am
AJ 4h...nice breakout setup
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  • #251
  • Jul 15, 2020 7:05am Jul 15, 2020 7:05am
Hello MQLTrade!
I also use depth 24 with all my zz tests.
But looking at this your trade I hesitate - do I understand your method right?
Attached Image
Was it setup for sell?
You use range of 61.8-78.6 as a reversal zone. Do you use the same for a breakout?
Thank you for your attention!
Just an opinion. Based on research
  • #252
  • Jul 15, 2020 7:10am Jul 15, 2020 7:10am
Quoting MQLTrade
AJ 4h...nice breakout setup {image}
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As I can see here, price went to 61.8-78.6 zone, then went down - it's a reversal pattern and we look for TP at 38.2, right?
Why did you looked for a breakout setup?
Thank you!
Just an opinion. Based on research
  • #253
  • Jul 15, 2020 9:10am Jul 15, 2020 9:10am
Quoting since80808
{quote} {image}As I can see here, price went to 61.8-78.6 zone, then went down - it's a reversal pattern and we look for TP at 38.2, right? Why did you looked for a breakout setup? Thank you!
Hi! Reversal zone & TP are processed by indicator. By the way Reversal zone is around .61 , u are right.
  • #254
  • Jul 16, 2020 2:32am Jul 16, 2020 2:32am
NZDCAD 1H IS FIGHTING on breakout level......
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  • #255
  • Jul 16, 2020 4:52am Jul 16, 2020 4:52am
Quoting MQLTrade
NZDCAD 1H IS FIGHTING on breakout level...... {image}
Hello MQLTrade! I am trying to trade the same strategy! It's good I found this thread)
Do you use Dashboard from Metatsock (comersial member) to find pairs with good entries??
"Anything can happen" - Mark Douglas.
  • #256
  • Jul 16, 2020 6:31am Jul 16, 2020 6:31am
Quoting Zhekabas
{quote} Hello MQLTrade! I am trying to trade the same strategy! It's good I found this thread) Do you use Dashboard from Metatsock (comersial member) to find pairs with good entries??
Yes it is...i'm using his indicator
  • #257
  • Jul 17, 2020 3:25am Jul 17, 2020 3:25am
UC 1h...
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  • #258
  • Jul 18, 2020 7:55am Jul 18, 2020 7:55am
A great weekend to all Fibonacci Traders
  • #259
  • Jul 20, 2020 1:58pm Jul 20, 2020 1:58pm
Quoting MQLTrade
UC 1h... {image}
perfect movement
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  • #260
  • Jul 21, 2020 12:12am Jul 21, 2020 12:12am
Quoting MQLTrade
{quote} perfect movement {image}
this was a good catch!

would you mind sharing a bit about your indicators and method?

Obviously this is similar to the OP’s method, but you’ve definitely run away with it.

I am curious if they are only specific tf you look for as well as your bias from larger trend.

i mean, technically you can keep playing every fib retrace of each fib retrace, but eventually you are on M1.

curious how you discern traceable setups vs non-trades
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