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Simple Fibonacci Trading

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Quoting Hugh Briss
Euraud trade validated.
Gone too far the other way so no setup. One will happen soon.
Quoting hutrader
bump
I'm not seeing what you're seeing there. It's not particularly trending and there's no obvious impulse wave?
it's 4H time frame
sorry I can't send graphics
the orders have start this night at 68,5
I'm looking the trade, now it's positive
thank you Hugh

Pascal
Great and simple setup here
MT4/MT5 EAs/Indicators/Alerts coder
Quoting FerruFx
Great and simple setup here
Thanks. It surely can't get much more simple than this? Just got to wait for a clear setup.
Quoting Hugh Briss
I'm not seeing what you're seeing there. It's not particularly trending and there's no obvious impulse wave?
Just check how EU in the 3244~20 area will react for a run up towards 3366.
I draw my fibs a bit different.
Possible EU M15?
Oh, Good Mornin' by the way.
Quoting hutrader
I draw my fibs a bit different.
you certainly do! If it works for you, no problem.
Quoting Chulmleigh
Possible EU M15?
Good morning! Yes, eu set up while I was somewhere else . I did post it earlier, just missed the entry. Keep an eye on that one, the first target would have been 1.32796 to get to a break even on the second trade. Let's see what happens. Second target is 1.33055.
Quoting Hugh Briss
Good morning! Yes, eu set up while I was somewhere else . I did post it earlier, just missed the entry. Keep an eye on that one, the first target would have been 1.32796 to get to a break even on the second trade. Let's see what happens. Second target is 1.33055.
Yeah, I'm in. Actually I was interested to have a look here as I already use a similar method. I draw in on the swings and pay attention to the 50%, 38% and 23%. I won't get in too heavily as it is another method. But I look for touches of the 21 ema or 55 ema and then target 161% or 138%.

AU shown here. The 38% lined up with the 1.0500 and bounced so I am in.

Cheers.
Attached Image (click to enlarge)
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Quoting Chulmleigh
Yeah, I'm in. Actually I was interested to have a look here as I already use a similar method. I draw in on the swings and pay attention to the 50%, 38% and 23%. I won't get in too heavily as it is another method. But I look for touches of the 21 ema or 55 ema and then target 161% or 138%.

AU shown here. The 38% lined up with the 1.0500 and bounced so I am in.

Cheers.
Nice one, glad you caught it.
1.3250 was an obvious level to watch for a bounce anyway though surely?
First target hit and second trade to break even.
Quoting Hugh Briss
1.3250 was an obvious level to watch for a bounce anyway though surely?
Sorry. I ended up discussing the AUD/USD trade. I'm in on the EU too, but as the method is different I didn't want to get it all jumbled up on here. I am interested though as I have been pondering orders and trails so I will get my mind into the premise and try it out.

Something to protect pips I think.

Cheers.
James.
Quoting baron193
here's a sequence of waves the way i see it, it may seem messy because i zoomed out to fit everything.
Makes sense to me, thanks for posting those.
Quoting Chulmleigh
Sorry. I ended up discussing the AUD/USD trade. I'm in on the EU too, but as the method is different I didn't want to get it all jumbled up on here. I am interested though as I have been pondering orders and trails so I will get my mind into the premise and try it out.

Something to protect pips I think.

Cheers.
James.
It's a probability thing. If the price retraces to the 50% fib and then trades back above the 38.2% level then you have a good probability of it reaching the swing high point. The risk with these trades is that you are risking two trades with high probability on the first one. The move to the 38.2 extension level is slightly lower probability so when you take a loss you take a loss on two trades but the high probability is only to the swing high. I've been testing it for a while and I see it as profitable because of the strike rate for the first trade and when you do hit the second trade target the risk reward can be very high.
Quoting Hugh Briss
Makes sense to me, thanks for posting those.
no probs, time to remove them all from your thread..
Biggest joker
Quoting baron193
no probs, time to remove them all from your thread..
Why? You could have left them there?
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Maech