Sell USD/CHF at 103.54 using the triple (M30, H1, H4)
Open 2 positions
SL both at 103.94
TP 1 at 103.04
TP 2 at 102.54
When position 1 reachs TP, move SL of th other to BE
could you clarify your entry on the gbp/jpy 4hr chart? I don't see the 123 pattern in that entry. I do see the larger 123 pattern which is quite obvious. But i am wondering why you entered there.
could you clarify your entry on the gbp/jpy 4hr chart? I don't see the 123 pattern in that entry. I do see the larger 123 pattern which is quite obvious. But i am wondering why you entered there.
thanks
Ignored
I entry the trade due to signal from the triple TF (H! - H4 - D1). All conditions came true at that time.
Vinafx, I think that you are absolutely correct. We need to use your initial rules on the all 3 timeframes. Just a thought. If to change 50EMA for 50SMA? What is your opinion? 2.It is very usefull to lern on loosing trades too. How do you think why the trade on USD/CHF on Friday went wrong? Greetings,
Vinafx, I think that you are absolutely correct. We need to use your initial rules on the all 3 timeframes. Just a thought. If to change 50EMA for 50SMA? What is your opinion? 2.It is very usefull to lern on loosing trades too. How do you think why the trade on USD/CHF on Friday went wrong? Greetings,
Ignored
I think 50 SMA is good to try too, but it gives signals a bit later than 50 EMA.
About the wrong trade on USD/CHF: The reason for this trade to be wrong is the reason for the filter: Don't entry if stochastic shows overbought/oversold signal on the lower TF. You can see, I myself broke my rule when I entried so hurrily: (The vertical line determines the point of time of the trade when stochastic (40,3,3) < 20 on M30 chart)
Vinax, thank you. The filter on the lower TF is really important. Your example with USD/CHF trade showed this very clear. If you dont mind, lets share the good set ups every day, expasially during the London session. When I see something good, I will post the information emmidiately here. Nice day,
i consider myself a "fibonacci price action" purist, but i really find this system interesting...
i will follow this thread and share my opinions and trades using them.
thnx for sharing!
iiivb
Ignored
Thanks and welcome, iiivb!
I have ever tried fibonacci trading too, but I haven't used it as a trategy yet. If you are well experienced on this, why don't you share your opinion to develope the system? I feel it may be useful to set the right TP/SL points for the trades.
Thanks
