Sharing my systems

This is just a shot in the dark to see if I understand your system correct.

Please look at the charts.

Another way to look at it.

I have posted in your other thread, just in case.

Ya,you got it,just make sure it's not just a move,it's supposed to be a leg.

You place your entry after the leg and wait for the retracement.

No problem wiz.

Here's maybe the best example you can get.

Here is a great example.

This is as easy as it gets.

One of the odl indicators that you might want is zigzag,you might need it.

Ok thanks for replying.

See,that's the problem I have with fibo trading. In the other thread, you mentioned to make sure is a leg and not a move. How do you qualify that?

You posted a chart on 4hr and mine was on 5 minutes. Obviously the difference on time frames are going to make a leg on 5 minutes more or less like many moves within 4 hr.

Still don't cover the question on the qualifier.

Another thing, you entry is on the retracement. Sounds to me like another regular Fibonacci system. Nothing new. I am right?

On what chart do you usually trade? Do you start with a 4H, then move to others? In your posts I've seen a variety of time charts.

Using the fib 50 is a well know area that traders look for entries. I will look in these areas, but will not enter only based on fib levels. Also keep in mind that they work well as pullbacks in all time frames with the trend.

I believe this is just a straight fibonacci trading. I don't see anything new here.

Unless the author has an edge willing to share, you'll find plenty of references around.

Fibonacci is a great strategy, if you get a hang of how far/close this first wave should be. There's another big debate on how far the pullback should be.

The difference is that you're not just throwing a fib,you're finding the leg,and wait for the retracement.

Trade 00001 Short EURUSD
Open 1.2726

Stop 1.2745


Limit 1.2710

I'm in this trade the whole way,I hope you are too,let's try to go 1-1.

Sorry,I usually trade it on a 15-1 hr.

Here's a 1min view.

short eur us.See real thread for details.