Hi Jameston and Wooli, Jameston, the Fibs you have are correct, just add 1597 for you final extension. Wooli, go to YouTube and search Sam Seiden. He will teach you everything you need to know about Supply and Demand Zones. He was my mentor, the person I learned from.
Stopped Out on USD/JPY. It went to my second Long Term Demand zone then took off.
To All Newbies, There is a reason why 98% of all traders lose money and 98% of all trader use lagging Indicators. The Big Money Use 4 hr and Dailey Charts with no lagging indicators, They Use Pure Price Action with Suppy and Demand Zones. They can easily see by looking at a chart where the stack of buyers are and where the stack of sellers are.
Hi Hyerspeeds3, Go to YouTube and watch Sam Seiden explain his way of trading, which is the way I trade. Just Type in his name and watch the video called "Identifying Swing Trading OpportunitiesIn The Forex Market"
My understanding is that Sam Seiden's approach is based on matching candle bodies and that these create a zone rather than a "line in the sand".
Could you go into a little more detail about your exact entry/exit methods?
Also, from your posted charts with the multiple fibs/fib extensions, it seems that I could legitimately place one of these fibs in a different position and end up with a different point of confluence.
