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Fib+5WMA

  • #21
  • May 19, 2010 11:42am May 19, 2010 11:42am
au fibs and 5wma
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  • #22
  • May 19, 2010 11:52am May 19, 2010 11:52am
Quoting farmhand
au fibs and 5wma

This is okay but look at your stoch they are pointing more upside movement.
  • #23
  • May 19, 2010 12:04pm May 19, 2010 12:04pm
the price above the 5WMA and at the bottom of the fib
long@8422

ill be very happy to ride it up to the 61.80
  • #24
  • May 19, 2010 12:07pm May 19, 2010 12:07pm
turned into a winner

Pip i like ur strat, many thx

farmhand
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  • #25
  • Edited 12:13pm May 19, 2010 12:12pm | Edited 12:13pm
Quoting farmhand
turned into a winner

Pip i like ur strat, many thx

farmhand
Nice work, If you know how to deal with fibo then you can win mostly.

Good Luck
  • #26
  • May 19, 2010 12:25pm May 19, 2010 12:25pm
eager to undrerstand fibs

especially how u use the fibs with this strategy??...few more charts as u
trade would be great

added few indicators
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  • #27
  • May 19, 2010 12:32pm May 19, 2010 12:32pm
Quoting farmhand
eager to undrerstand fibs

especially how u use the fibs with this strategy??...few more charts as u
trade would be great

added few indicators
I will attach a PDF file about fibonacci download it and read. There are many ways to use fibonacci every trader use with own way.

This method is not very strong yet i m working on it to make it more good. Actually M15 time frame has lots of whipsaws so quite difficult to use fibonacci with it.

But i hope i will get some really good setup with the help of traders like you. Keep sharing your views.

Thanx a lot
  • #28
  • May 19, 2010 12:53pm May 19, 2010 12:53pm
basically trading long in a short trend

finding winners
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  • #29
  • May 19, 2010 12:59pm May 19, 2010 12:59pm
Quoting farmhand
basically trading long in a short trend

finding winners
It's an counter trend, when market breached 38.2 in down trend then 38.2 becomes support and mostly price goes for 61.8.

but play it carefully
  • #30
  • May 19, 2010 9:32pm May 19, 2010 9:32pm
found another good entry using fibs and countertrend
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  • #31
  • May 20, 2010 3:29am May 20, 2010 3:29am
Aud is in good trend against Usd, Jpy....
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  • #32
  • May 20, 2010 3:34am May 20, 2010 3:34am
Again entered with short Let's see will it meet my profit targets.
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  • #33
  • May 20, 2010 6:34am May 20, 2010 6:34am
Setup for GU
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  • #34
  • May 20, 2010 6:54am May 20, 2010 6:54am
Gbp/Jpy setup in good direction
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  • #35
  • May 20, 2010 9:30am May 20, 2010 9:30am
Profit targets hit.
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  • #36
  • May 20, 2010 9:31am May 20, 2010 9:31am
New setups already near profit targets. I really like trendy market
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  • #37
  • May 24, 2010 7:09am May 24, 2010 7:09am
After a little research, I took the liberty of adding the parabolic SAR indy for furthur confirmation on a 5m chart as well as using the 5wma and stochastics.

This trade I made a few hours ago on G/U and it was a pretty good setup in my opinion... I entered at the first parabolic dot and the second candle under the 5wma
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  • #38
  • May 24, 2010 8:13am May 24, 2010 8:13am
Quoting Salty
After a little research, I took the liberty of adding the parabolic SAR indy for furthur confirmation on a 5m chart as well as using the 5wma and stochastics.

This trade I made a few hours ago on G/U and it was a pretty good setup in my opinion... I entered at the first parabolic dot and the second candle under the 5wma
Hello Salty,

Nice work thnx a lot for taking interest.
  • #39
  • May 24, 2010 9:27pm May 24, 2010 9:27pm
Hi Pip26,

just today I have read about the Fib + 5WMA trading method written by Mr. Edwards and I think it is a very nice and profitable trading method.

I am happy that I found your thread because after viewing your different chart setups I finally understand how this method works. Please continue to post your chart setups, they are very helpful. I will also start trading this method on my demo account and will post my chart setups.

I have rated your thread with 5 stars.
  • #40
  • May 25, 2010 3:47pm May 25, 2010 3:47pm
hi pip26, glade you started this thread . Below is a trade i took some hours ago. Sorry i could not upload it immediately. My entry was the next candle after the morning star while my sl was below it. Both 1 and 2 tp were hit netting about 10
Pips. Please see chart below,
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it is better to miss than to loss pips
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