Fibonacci Setup Idea (SK Level)

Hi Traders,

If you know Super Kluster from Fibmaster, you might want to check this out.

The following pictures explain how I use SK level, and what I am looking for as a setup to trade.

I will appreciate for any feedback.

johntsai


Reference
www.fibmarkets.com

It looks interesting. I'll give it a try.

Hi,
I didn't understand your Fib clusters the other day when you posted about them.

Here is a 30M chart of EUR/USD.

Between which two points would you draw the fib lines to develop the clusters?

Thanks.

Here is the new setup. It is very similar to the chart I post this morning.

In this chart, the only valid trend to locate the setup is from E-F.

As the attach, I found 2 sk been violate by thrust, and one major fib retrace, 61.8 been violate by thrust as well.

As the result, will look for sk in lower timeframe to draw the support.
I just post a new setup. please check it out.

Correction, the fib retrace on 61.8 alone cannot be the key level to use in this setup.

For this Trade, I did a mistake.

1. I shouldnt use timeframe combination the 4h with 15 and 5min.
it should be 4h, h, and 30 better. as the result, i lost the trade.
2. i shouldnot treat fib 61.8 as sk level. i should look for sk in lower timeframe and sto oversold for entry instead went into 5m. this is kind of pushing for an entry.

This trade I made some adjustment.

Time frame combination is

4H, confirm the thread and consolidate. (didnt show below)(previous post have it)
H confirm the support sk
m30 confirm the thrust up
m15 check the sk and entry at sto oversold

target price is more greety this one. set at fib ext 100 with 15 trailnig stop.

As the result last night's trade, the target had reach to fib ext 100 from the h chart, but i only made 40 pips due to stop out by trailing stop.

This is the setup last night in very lower timeframe.

Combination is 15,5,1

Even it is the classic setup, i personally do not like the time frame that low.
It will shrink the space of price retracement, and it will easily been kick out.

I prefer use 4h,h,30 or d,4h,h.

Position Open today @ 01-26-08 0509pm PST.

Chart Combination H chart and M30.

This is 4H chart that for 012608 0509pm position.

Position Fail Today.

2 mistake

1. The entry is too close to target price 1 (61.8)
2. H chart MACD cross up after couple min, if entry in sk level, target 61.8 will be perfect setup for entry and exit.

I will need to keep closer look at this situation in the future.

Success Trade.

100 pips gain.

seems there is no ppl support this thread at this time, i will not post new setup for a while.

this is my current back test result.

13 days 6 setup.

6 trade 0 lost.

the test will keep going one by one days.

the timeframe now for trading setup is h/4h/d

strategy rule now post, and it will keep updating according to the backtest)

1 Place Stop Loss At PT A if A-B move >100 pips
2 Place Stop Loss At 61.8 Retrace if A-B move <100 pips
3 Stop Loss have to be <5% of Account Balance
4 Always Target 100% Fib Ext
5 Enter Position ONLY when MACD have agreement in H,4H,and/nor DAY
6 Entry must have at least 3 timframe agree in roll.
7 If there is SK provide strong support even have 3 timeframe agree in roll,
and target 100 ext is too close, change target to 161.8 ext, stop at pt A.
Also confirm the stop loss with reverse fib ext level.
8 If 4H only have TL support the Day and H trend, check if there is SK, Pattern formed
in order to make the decision.

@johntsai how are you, can you give us an update on this if ever there's any