Fibonacci Retracement Scalping Strategy

haha yes I still use CPP every day but this setup doesn’t look right

It does, I use whichever S3,4 or R3,4 inside yesterday range. Today it happens to be R3, R4 inside yesterday R3 R4.

OHHH kind of ingenious

Let me rephrase, I don’t think time frame matters. Just need to find the best looking setups regardless of the time frame

New choch breakouts invalidate previous breakouts

I think the power is identifying the strength in the CHoCH breakout

The long wick can be key

is this only for sell?

??

It only uses Fibonacci tool?

Hi Driven18, which pair was this. I know this is the CPP strategy, which pairs do you find success with this strategy?

I swing trade live Dow Futures with my own technique and started looking at CPP to add a scalping method.

oh you mean can you only short? No you can go long too

so about the line of that cpp is now fully automated so you were talking about the ea made by carlosbdf or you made an ea and does it work same as you described the cpp

let e be well above a
then enter long at 50% pullback of wave from d to e

I've come across a nice breakthrough today. We're going to use 200 EMA in confluence with FIB Retracement. This is definitely a unique approach but i'm finding some very nice results. This will be how I trade the system going forward.

Currently testing this system on GBPUSD. From a lengthy series of manual back tests showing high win rate with great RR.

Using Heikin-Ashi wait for a very strong move/burst of momentum through the 200 EMA. Wait for retest of the 200 EMA (Price showing clear consolidation and indecision candles). Once price makes clear retest, we measure using the Fibonacci Tool from the 200 EMA BREAK. Align the FIB properly and see If the retest aligns with the .7 level, if it does wait for a clear entry candle in bias direction.


You can also find setups by spotting the momentum break through, then measuring off 200 EMA after a clear pullback

Let's look at EURUSD recent signals. The diamonds signal retests.

a question about your Fib level of .7. .681 is a fib level as is .786 so do you mean .681?
thanks

.681 is fine too