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Fractal Geometry

  • #61
  • Edited 6:55am Feb 5, 2021 1:55am | Edited 6:55am
Quoting Expo33
This structure is visually pleasing to me and ready to go. Parallel waves AB and CD with roughly the same length. Wave BC is a bit ragged but overall it's tradable for me. EUR/USD 1H CHART {image}
How about two scenarios on EURUSD, on the other hand I would not take pairs with eur, usd, gbp , because the news will come out today, IMHO.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 67 KB
  • #62
  • Feb 5, 2021 3:04am Feb 5, 2021 3:04am
Quoting Gleam
{quote} How about two scenarios on EURUSD, on the other hand I would not take a pairs with eur, usd, gbp , because the news will come out today, IMHO. {image}
Blue scenario stopped out, waiting for white ... mmm the question is how to choose the right one or which one is better in such cases?
Yah .......or maybe the answer is in that "#1) Major fractals are better than minor fractals". White scenario has more major fractals..., just my thought..
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 67 KB
  • #63
  • Feb 5, 2021 7:03am Feb 5, 2021 7:03am
Quoting JarlCarmen
Wait for tp ^^ EDIT TP HIT ^^ {image}
Well done friend
Pride always comes before destruction.... -Proverbs 16:18
  • #64
  • Feb 5, 2021 7:08am Feb 5, 2021 7:08am
Quoting Gleam
{quote} Yes, my friend, you are absolutely right I everywhere adding one 0, if you want 30 pip you have to fill number 300.
Thanks for the confirmation.

I'll practice on a demo today to make sure I'm 100% confident before I use it full time. I was wondering if I don't want a trailing stop do I set it to "0" or do I just delete it from the trendline description? Later today I'll just do a bunch of practice examples on a one-minute time frame.
Pride always comes before destruction.... -Proverbs 16:18
  • #65
  • Edited 9:16am Feb 5, 2021 7:18am | Edited 9:16am
Quoting Gleam
{quote} How about two scenarios on EURUSD, on the other hand I would not take pairs with eur, usd, gbp , because the news will come out today, IMHO. {image}
I tend to stay away from structures where you have one wave so much longer than the other, especially if they are close together. Ironically one of my brokers didn't print the D minor fractal because their price on the 2nd candle was like a 1/10th of a pip lower.

FRACTAL D
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 40 KB

NO FRACTAL D
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1D.png Size: 40 KB


Which reminds me I'm officially done with Oanda after 14 years with them. My USD/CAD 30minute pending order filled when I was asleep. Oanda got stopped out by a pip or 2 while the other overseas brokers didn't. When I woke up for my workout at the wonderful hour of 3am the price had made it back to break even so I got out with no loss on the overseas brokers. I always felt safe and still do with Oanda as they have been in the game for over 2 decades and as a B booking broker, they have made massive profits and are highly capitalized so I feel my funds are super safe. Not to mention the San Francisco office is a 4hour drive from here. Makes a man feel good. And they weathered the Black Friday Swissy event with no problem. However, I just can't justify the less than competitive spreads and 50:1 max leverage anymore. Plus their finance/rollover fees are not very competitive either. Also, to illustrate the strategy with a $500 acct you can only open one trade at a time if you're risking 3% with such low leverage so bye-bye Oanda.
Pride always comes before destruction.... -Proverbs 16:18
  • #66
  • Feb 5, 2021 7:31am Feb 5, 2021 7:31am
Quoting Expo33
{quote} Thanks for the confirmation. I'll practice on a demo today to make sure I'm 100% confident before I use it full time. I was wondering if I don't want a trailing stop do I set it to "0" or do I just delete it from the trendline description? Later today I'll just do a bunch of practice examples on a one-minute time frame.
If you don"t want to trail or BE just leave it as it is to 0..
  • #67
  • Feb 5, 2021 7:36am Feb 5, 2021 7:36am
Quoting Expo33
{quote} I tend to stay away from structures where you have one wave so much longer than the other, especially if they are close together. Ironically one of my brokers didn't print the D minor fractal because their price on the 2nd candle was like a 1/10th of a pip lower. FRACTAL D {image} NO FRACTAL D {image} Which reminds me I'm officially done with Oanda after 14 years with them. My USD/CAD 30minute pending order filled when I was asleep. Oanda got stopped out by a pip or 2 while the other overseas brokers didn't. When I woke up for my workout...
Thank your for clarify, picture became clearer
  • #68
  • Feb 5, 2021 8:08am Feb 5, 2021 8:08am
nice setup..
  • #69
  • Feb 5, 2021 9:22am Feb 5, 2021 9:22am
Quoting Gleam
{quote} If you don"t want to trail or BE just leave it as it is to 0..
Thank you. I'll test it today and be ready to go full-time next week. Having the TS and BE options will help tremendously.

So 10am your time is the London open? Wow, that is a dream come true for any full-time traders.

Lietuva yra geriausia!!!
Pride always comes before destruction.... -Proverbs 16:18
  • #70
  • Feb 5, 2021 11:15am Feb 5, 2021 11:15am
A big thank you to all who participated in the first week of this thread.

Looking forward to next week now that we have some of the basics down. Since there are 100s of valid structures every week we can be very selective in our trading and only trade the very best looking structures. Avoiding news events is also important with small stop losses. The old adage "less is more" certainly applies here.

Also looking forward to using another broker and using a new EA for entries.

Enjoy the weekend. I'll be posting some of the best structures I can find over the weekend and adding to post #1 if any new and useful observations come to mind.

Cheers all!
Pride always comes before destruction.... -Proverbs 16:18
  • #71
  • Feb 5, 2021 11:52am Feb 5, 2021 11:52am
Quoting Expo33
{quote} Thank you. I'll test it today and be ready to go full-time next week. Having the TS and BE options will help tremendously. So 10am your time is the London open? Wow, that is a dream come true for any full-time traders. Lietuva yra geriausia!!!
Thanks my friend. Yes, I get up, drink cup of coffee and London opens . Only one little thing left find good profitable Trading System . Where?
Thank you all for your participation and a good weekend and rest!
  • #72
  • Feb 5, 2021 1:25pm Feb 5, 2021 1:25pm
Quoting Gleam
{quote} Thanks my friend. Yes, I get up, drink cup of coffee and London opens . Only one little thing left find good profitable Trading System . Where? Thank you all for your participation and a good weekend and rest!
The perfect life!
Pride always comes before destruction.... -Proverbs 16:18
  • #73
  • Feb 5, 2021 3:21pm Feb 5, 2021 3:21pm
Expo33
Thank you for the thread.
How to draw correct lines and correct mid point please?
Can explain that for correct drawings please.
Regards,
  • #74
  • Feb 5, 2021 3:37pm Feb 5, 2021 3:37pm
Quoting mamz2006
Expo33 Thank you for the thread. How to draw correct lines and correct mid point please? Can explain that for correct drawings please. Regards,
You're welcome.

Read post one and look at all of the examples on the thread. The midpoint is set by the Meta4 platform. Draw a trendline on your chart, then double click on that line and it will show the midpoint. Then you can move the line where you want. Then double click on it again to lock it in place.

Cheers
Pride always comes before destruction.... -Proverbs 16:18
  • #75
  • Feb 7, 2021 7:34pm Feb 7, 2021 7:34pm
Hello traders. Hope everyone is well.

I am now set up with a new broker with 200:1 leverage so I can open multiple trades on a small account. Still waiting on a response from FF as it won't connect to a trade explorer. Say the word "liberal" in the story comment section and your comment will be hidden in 3 hours. Need technical assistance with a trade explorer and you will wait 3 days to 3 weeks to potentially never. requested help 48 hours ago, no response yet. Set up trade explorer on Myfxbook but not sure how to link it here.

Anyways, today is the first real money attempt at trying the new trendline EA so hopefully I'm using it properly.

Have 3 on the watchlist ready to go.

AUD/USD 30MINUTE
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NZD/USD 30MINUTE
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Click to Enlarge Name: NZDUSDM30.png Size: 48 KB

USD/JPY 30MINUTE
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Pride always comes before destruction.... -Proverbs 16:18
  • #76
  • Feb 8, 2021 3:06am Feb 8, 2021 3:06am
Quoting Expo33
Hello traders. Hope everyone is well. I am now set up with a new broker with 200:1 leverage so I can open multiple trades on a small account. Still waiting on a response from FF as it won't connect to a trade explorer. Say the word "liberal" in the story comment section and your comment will be hidden in 3 hours. Need technical assistance with a trade explorer and you will wait 3 days to 3 weeks to potentially never. requested help 48 hours ago, no response yet. Set up trade explorer on Myfxbook but not sure how to link it here. Anyways, today is...
Hi, Wish you many pip with new broker.. What is the weather in your place right now? We have a lot of snow and everything freezes.
Thank you for updates .. will see how it works.. How do you make notes on the line?
  • #77
  • Feb 8, 2021 8:18am Feb 8, 2021 8:18am
Quoting Gleam
{quote} Hi, Wish you many pip with new broker.. What is the weather in your place right now? We have a lot of snow and everything freezes. Thank you for updates .. will see how it works.. How do you make notes on the line?
Thanks friend.

The NZD/USD and AUD/USD both filled overnight and were both winners.

The notes on the line automatically appear when I set the order.

I live in the desert so our winter temps range can be from -18 Celsius to 12 Celsius. In summer we have temps up to 40 celsius. I'm at 1400 meters above sea level. We usually get less than a meter of snow each year but I grew up in New York so I'm used to blizzards and colder temps for winter.

6am here and I'm behind my normal schedule. Workout now then to the store and then homeschool starts.

Cheers
Pride always comes before destruction.... -Proverbs 16:18
  • #78
  • Edited 9:00am Feb 8, 2021 8:25am | Edited 9:00am
Not very pretty, but works)
TP reached)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH1 sell.png Size: 59 KB
Greed causes poverty
  • #79
  • Feb 8, 2021 8:27am Feb 8, 2021 8:27am
FL may work more than once.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADH1.png Size: 50 KB
Greed causes poverty
  • #80
  • Feb 8, 2021 8:57am Feb 8, 2021 8:57am
Quoting Gleam
{quote} Hi, Wish you many pip with new broker.. What is the weather in your place right now? We have a lot of snow and everything freezes. Thank you for updates .. will see how it works.. How do you make notes on the line?
I think I figured out why your notes don't appear.

Right-click anywhere on your chart, then >>>properties, then >>> common, then make sure this box is checked.

Attached Image
Pride always comes before destruction.... -Proverbs 16:18
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