There seems to be 2 trains of thought, and I believe Bobokus said this somewhere. You can fib price swings or you can fib timeframes ie what I have just done re FX Compass. I think it will be easier to test fibbing fixed time frames like daily then watch the hourly reactions than just looking at general price swings. I'll try and do some testing on the daily to hourly idea over the weekend. Also a lot depends on your money management. I, as you know, like at least 2 to 1 risk reward whereas others may be happy with 50/50. With a high probabilty outime 50/50 may be better and keep you in more trades.
Looks like I have just written rules of 2 testing scenarios for myself.
And yes Skong, I know what mean. I'm more scarecrow Wizard of Oz style at the moment.
Good US retail sales numbers lads, looks like Santa's been to Macy's.
Stopped out of position by the way, never trade through a big number. My fault.
Looks like I have just written rules of 2 testing scenarios for myself.
And yes Skong, I know what mean. I'm more scarecrow Wizard of Oz style at the moment.
Good US retail sales numbers lads, looks like Santa's been to Macy's.
Stopped out of position by the way, never trade through a big number. My fault.
Keep smiling