Macfibo System Version 3.0

Quoting sufiansaid

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{quote} Hi Michael. Thank you for the interest and thanks for backtesting it. I do not have a time restriction. I wil consider it as a valid bias as long as a) it hasnt reached 1.618 primary target (several pips short of hitting it I would consider it as a hit) and b) an opposing crossover occur c) and I do not want to make it too subjective and complex (hence I dont include it in the guide) but sentiment shift based on Fundamental Analysis normally Id cancel my bias (but i do rely on technical analysis to "confirm" my fundamental such as technical...

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Quoting Michael898

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{quote} Thanks for the clear answer! I'll ask for another clarification if you don't mind: do the same principles apply if one of the M30 entries hits the SL? You keep on opening new trades as long as the 3 points you mentioned still stand and a M30 ema crossover happens during the London session?

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Quoting sufiansaid

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Here’s an example where it didn’t go really well. Yes I don’t only show trades that worked. #CADJPY Two trades all got stopped out. But pay attention at the second trade though. Price went down as anticipated but missed the D1 1.618 level… having said that though, this trade was on 8.5R already. This is why it is crucial to split your trades so you can get something out of the trade. {image}

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Quoting Michael898

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I just noticed that you have a TSI in some of your charts, do you use it as an additional filters only in some instruments?

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Quoting sufiansaid

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Does this system translate in a smaller timeframe? i.e H4-5M Chart relationship {image}

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The way I enter the 5ema x 10ema bearish crossover is exactly the same concept like Macfibo v3.0

Quoting Michael898

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Very interesting, thanks for sharing! {quote} Do you mean bullish crossover? As in, you know the D1 bias is bullish, there's been a bearish crossover in H4, and now you wait for a H4 bullish crossover to enter long.

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Quoting Michael898

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If so, it sounds like an interesting way to catch a good deal on a price retracement. Do you use any Fibonacci to determine your TP levels with this type of entries as well?

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Quoting Michael898
Very interesting, thanks for sharing! {quote} Do you mean bullish crossover? As in, you know the D1 bias is bullish, there's been a bearish crossover in H4, and now you wait for a H4 bullish crossover to enter long.
No I meant a bearish crossover. This will indicate there will be potentially a retracement and I want to catch that retracement eventhough the bias based on D1 is still bullish. I will only pay attention of bearish crossover in H4 if TSI line is above +60 after day close (at D1). Normally when this happen, after the day close, TSI Line will crossed over below the +60 and sometimes it will produce a bearish engulfing candle or a dark cloud cover, which also potentially indicate price would continue to go bearish for few days. Of course this doesn't happen all the time hehe.
Quoting Michael898
If so, it sounds like an interesting way to catch a good deal on a price retracement. Do you use any Fibonacci to determine your TP levels with this type of entries as well?
Yes a trend continuation to the upside. How I trade this is how I find trades according to the D1 bias similarly when TSI line crossed above +60. I hope that makes sense. For this kind of trade, I don't use fibonacci levels anymore especially when 1.618 D1 projection had been hit. I normally use recent swing highs or missed pivots as targets (and I will scale out some of my positions when it hit those targets and let my remaining position to be the "wanderer" whilst updating my Stoploss based on price structures. I hope this makes sense (english not my first language)