I like it too! Thanks for pointing it out. I have been gone most of the day. Tell me this, do you wait for the break before you get in on the retracement or will you enter at the 382 regardless. Just curious. Id like to backtest this a bit.
K.I.S.S.
I have not been waiting for it to break first, but it seems like every time, it does break first anyway (before retracing)... I think it may be my "pre-break" selection that makes me picky enough that it will do what it needs to do, before it actually does.... if that makes any sense....
This particular PA has already broke though, waiting for it to hit my entry now...
I like it too! Thanks for pointing it out. I have been gone most of the day. Tell me this, do you wait for the break before you get in on the retracement or will you enter at the 382 regardless. Just curious. Id like to backtest this a bit.
K.I.S.S.
That thing had too much momentum to hit the retrace entry.
Strong momentum pin bar ripped straight to the extension.
Trade Idea---Confluence USDCHF
1. Plot a fib on a weekly bar. Look for that break that shows a buy or sell signal.
2. Dial down to Daily TF and wait for a daily bar to do the same.
3. Finally, pull a swing fib on 1 hr TF and see if you get confluence of the TP target on your swing fib and the daily take profit target.
Lets see how this plays out.
K.I.S.S.
We did well today thanks SC. The key with my little method is bar selection. It is worth noting though that when you pull a fib on any substantial looking bar, there is a very high probability of the next 382 ext will be hit.
K.I.S.S.
Nzd/Jpy Weekly outside bar hit it's 1.382 target
If you look back in my journal I had this tiger by the tail a few months back. I am revisiting it now and believe that there is something very much more substantial to observe. Many interesting variables that I will go into more detail on in our PF. 
Nice thread Rog. This fib stuff is nonsense, don't waste your time.
MD.
I didn't know you had your own thread!!! Well you got me thinking about something I had been doing awhile back when I first started trading Skunny style fibs. I use to look for inside bar setups on the daily chart and fib the mother bar with the 1.382 fib ext on both ends and wait for a breakout and take my profit at the 1.382 fib ext. I did okay with it until I got sidetracked. It never really dawned on me that pulling a fib on certain bars would give me a high probabilty of winners. At Least that's what I think you are saying, if im wrong please...
Would the BEOB be the same as a Bearish Engulfing candlestick pattern and would the BUOB be the same as a Bullish Engulfing candlestick pattern? They seem very similiar.
Agreed. Well, let me expand on that. It takes Assholes a little longer to figure out where the power button is on a cpu. Solve that little puzzle and you are well on your way.
K.I.S.S.
