The green arrow shows a gu long I took earlier, on exit from the DZ if what was then the fib. What is now the 'buy' was the original Targer1, so the trade closed at +53 and I moved the top of the fib to where it is now.
Since then, the price has retraced to touch DZ twice, and almost touch a third time.
Would any of the more experienced here have re-entered long on any of these touches?
To my inexperienced eye, this looks like a good setup, with the price bouncing off the 50 several times, so I have gone long (demo, not confident of this live), emergency sl at 107.14 - got a 20 pip ts in case it gets to AL when I am not looking.
The plan is to move the sl each time a resistance point is reached, then let the trade run. We shall see.
A 20 ts might be a little tight, Steve, but you know what you can risk.
Hi Steve - this is what I'm seeing - so far today, we have a Lower High AFTER the buy earlier out of the DZ. This for me is a Failure of a Long Signal and thus the first indication of a Possible Reversal.
So I would be considering placing a shorter TF fib on this last fall and looking for a sell.
However, I dont enter trades this late in the European Session, so I'll wait for tomorrow
. The source is included here so anyone can add further mods.. I then set the Custom Indicator > Visualization tab check boxes to the time frame I am on and the next lower time frame I deem important (ie. on the daily chart Visualization tab I set the Daily and H1 check boxes). This is done down to the M5 (or M1). I do check the M5 and M1 check boxes on the Visualization tab for my M5 IFib.. On the lighter side here are the ex4 and mq4 files. Please run this prog through its paces to verify it functions as expected. It is performing to my expectations, but your money is not my money soooooo.........
I have a question if we get small swings like on usdyen we have right now how would you properly iFib them Issey? If you can please post a few charts of yours, that would be very very helpfull. Hello all,
I have been following Skunny, Bo and Islander for a while now. I am a lurker so I rarely post unless I feel I have something meaningful to contribute. I took the liberty of modifying the DZ Box tool. The mod works for me and I hope for a few of you as well
The number one aspect of DZ Box that I felt needed improvement was having to enter the name of the Fibo you want DZ Box to work with. I draw my IFibs starting with the daily and work my way down to the M5. Nothing new there
The DZ Box mod simply finds the Fibo that is visible on the time frame you are displaying and, as long as that Fibo has the smallest range than any other displayed Fibo, it draws the box between its DZ lines.
Hope it's worth the two hours it took to mod.
