hope you have luck friend ... but I think you get in early ...
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DislikedYes nicely done, I see you have your stop below you pivot low on 1hr… this is another way of placing stops. But since I trade longer term and got burned many times by placing my stops in such areas (as in below/above 1hr PP) only to see price resume into my direction, I decided to place them based on daily.
[color=black][font=Verdana]IB, since you are trading an upswing you fib should start from the low and extend to the high… you have it reversed. In the correct projection, from low to high, the 1hr pivot...Ignored
DislikedOn the daily, the confirmation candle not closed yet, so how is it possible to apply fibs to pivot low and the said candle?Ignored
DislikedYou right regarding the fibo.
Regarding the SL I know is safer below the daily, but the RR is not that great. For a 100 pips risk, I need to make 300 pips for a decent RR.
Specially when I am against the "trend" and I am risking only 20 pips, as soon as I gain them I move my SL to BE and if I get it right I can make 200 pips and that for me will be I sign that I am doing well.
IBIgnored
DislikedChantalb
For divergence, try the cfp indicator. Is a derivative of the ccfp. I found it very powerful.
More info:
http://articles.mql4.com/484
IBIgnored
DislikedOn the daily, the confirmation candle not closed yet, so how is it possible to apply fibs to pivot low and the said candle?Ignored
DislikedI think you did not wait for the close of that confirmation candle before entering the trade, because if you had you would have seen it to be a weak bearish one. Also the supposed to be PP candle was a very strong bullish one, I don’t see any rejection of the 38.2 fib…
Guys in order of importance and strength: 61.8% followed by 50% and lastly the 38.2%
[color=black][font=Verdana]I don’t even...Ignored