my mt4 don't allow me to draw short lines but only endless long lines like the ones you see on my chart. the only orizzontal things that i can draw are fibonacci rentracements and those lines..
I thought we dont count by pips for the pull back...it is only the swing that does matter ? pull back is based by fibo...am i right ? someone pls confirm...
I thought we dont count by pips for the pull back...it is only the swing that does matter ? pull back is based by fibo...am i right ? someone pls confirm...
my mt4 don't allow me to draw short lines but only endless long lines like the ones you see on my chart. the only orizzontal things that i can draw are fibonacci rentracements and those lines..
Ignored
In all platforms it is possible. Trend line... Just draw it horizontal. That it is...
I do it this way...
I see that 5th bar before Point B did not cross the low of its previous bar (6th bar before Point B), hence I understand your point. But I would have thought 2nd bar before Point B did cross the low of its previous bar (3rd bar before Point B), and that would probably qualify as a dip...
...However, if it is (b) then it is not good because I would be thinking "Just too bad setup did not work out" when in fact there was no setup at all. If one or two trades work out (by pure luck), I would be lulled into false sense of security thinking "I have...
Ignored
blueskies,
Don't get too hung up on the details.
Like Feb says, this system is based on irony, the market won't care about the system. Just because bar 2 dips below bar 3, it won't mean C will go to D. None of that matters. Don't over analyse. All we are doing is taking a chance on "the ebbs and flows of the market".
I thought we dont count by pips for the pull back...it is only the swing that does matter ? pull back is based by fibo...am i right ? someone pls confirm...
Ignored
we dont count by pips, you are right. just train your eyes to simply see a dip, prefrably around 50% level, how ever you see it don't worship anything you put on the chart, I use fibo just simply to speed things up, thats all.
everyone, pls, as I mentioned earlier, don't get into details. keep it simple.
Could someone confirm that in this thread, all posters are using following market open time of London and New York:
(a) London: 0700GMT [=0800BST]
(b) New York: 1200GMT [=0800EDT]
I ask to make sure I am on same page with all others when I study the charts.
we dont count by pips, you are right. just train your eyes to simply see a dip, prefrably around 50% level, how ever you see it don't worship anything you put on the chart, I use fibo just simply to speed things up, thats all.
everyone, pls, as I mentioned earlier, don't get into details. keep it simple.
Ignored
ok thanks...my EU tade kicked in @ 1.3325. Anyone with me ?
Could someone confirm that in this thread, all posters are using following market open time of London and New York:
(a) London: 0700GMT [=0800BST]
(b) New York: 1200GMT [=0800EDT]
I ask to make sure I am on same page with all others when I study the charts.
First IRONY trade for me, out for -8. But I now understand it's part of trading, before I'd have felt lousy about the loss, took it personal. Not any more, bring on the next bus!
Big thanks to Feb and FxAchilles for turning my mind around.
