Dislikedno no no
my system is 61.8 entry short
exit at swing lowest.
i am follow trend.
but you anti trend.Ignored
Fibonacci System without G7-USD Indicator
I need an EA for my simple "Mother Candle Fibonacci System" 62 replies
super S/R and fibonacci system 41 replies
What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies
KNJ Fibonacci Trading System 8 replies
Fibonacci Expansion Trading System 85 replies
Dislikedno no no
my system is 61.8 entry short
exit at swing lowest.
i am follow trend.
but you anti trend.Ignored
Dislikedwjqblog or anyone, is this right for GBPCAD, Dec. 22nd, 2009?
1. I see CAD is strong, GBP is weak. Draw a vertical line.
2. Draw a Fibo
3. Price resists around Fibo 38.2
4. Draw another Fibo
5. Short @ Fibo (38.2) - 1.6940
6. Exit @ Fibo (100) - 1.6899.
Profit is 41 pips.Ignored
DislikedHi wjq
I like your system very much, below is a step by step guide that I think is correct, if not please advise.
1.using G7 indicator identify 1 strong and 1 weak currency, bring up the relvent chart
2.Draw vertical line
3.Draw Fib Retracement from nearest swing point (Hi/Lo )
4.Ensure that the trend is established, must be 70 plus pips
5.Wait for retracement
6.When resistance is seen at 38.2 or better 61.8 make your entry IN THE DIRECTION OF THE TREND
7.Place SL at next Fib level
8.Draw Fib EXTENSION for profit targets
9,First profit target...Ignored
DislikedI will try to answer your question.
According to wjq, when fibo levels act as resistance, the reverse bar is the one which its high is lower than the previous bar's high. If fibo levels act as support, the reverse bar is the one which its low is higher than the previous bar's low.
The entry bar is the one after the reverse bar.
I got these from page 1.Ignored