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  • #81
  • Apr 4, 2012 4:10am Apr 4, 2012 4:10am
Quoting panguFX
well lets say we are 15 mins into a 30 min candle. candle opened, moved down or up 10 pips, and retraced 5 to the center of the candle. now we have a high/low of an unfinished candle. a pending order can theoretically make the market prove that its moving in our direction.

another example, we are 10 mins into our candle, candle opened moved down 18 pips, and moved back up to its high, so we are looking at the chart at the current high, we just enter right away, market order. 18 +10 pips = 28 pip SL

kind of risky this way. i have had more success by waiting for the m30 candle to close before setting pending orders. because this way once m30 extreme candle has closed, if the price then breaks the high or low of it, it is highly likely to continue that way.


yoiur buy of last night got stopped out ?
  • #82
  • Apr 4, 2012 4:37am Apr 4, 2012 4:37am
Quoting whatfx
kind of risky this way. i have had more success by waiting for the m30 candle to close before setting pending orders. because this way once m30 extreme candle has closed, if the price then breaks the high or low of it, it is highly likely to continue that way.


yoiur buy of last night got stopped out ?
yep, stopped out at breakeven due to rule 7.
  • #83
  • Apr 4, 2012 4:38am Apr 4, 2012 4:38am
Quoting EaglePip
When looking at your charts the 4Hr bars do not seem to match mine and it appears that our broker 4hr bars probably differ by 2 hrs. (My bars start at 0000 GMT- See attached.)
This raises some interesting issues that we could use to our advantage.
For instance when the swing on the 4Hr seems to stall before reaching the 81 pip threshhold, I have been going to the 1Hr to look for a decent swing and then entering on the 30M.
Got a good entry with such cheating on Apr2. Unfortuntely, my exit was too early
To me the key feature of this strategy...
hmmmm, very interesting!
  • #84
  • Apr 4, 2012 5:03am Apr 4, 2012 5:03am
next one....
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  • #85
  • Apr 4, 2012 5:04am Apr 4, 2012 5:04am
Quoting whatfx
why is the criteria met here ? that move from long red candle to where you entered is over 140 pips move, way over the 81 pips suggested move. is that then not a risky trade to take ?
it was the shortest move that was at least 81.
  • #86
  • Apr 4, 2012 5:46am Apr 4, 2012 5:46am
Quoting panguFX
it was the shortest move that was at least 81.

where do you count the shortest move from ? as i can see on 4 hr , it was one contnuous move of over 140 pips or more...,
  • #87
  • Apr 4, 2012 8:46am Apr 4, 2012 8:46am
finally got my motherfibbin pips, hopefully these pics will clear up most of the confusion.
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  • #88
  • Apr 4, 2012 8:48am Apr 4, 2012 8:48am
Quoting whatfx
where do you count the shortest move from ? as i can see on 4 hr , it was one contnuous move of over 140 pips or more...,
can u see in the above trade, i keep moving and readjusting to the smallest h4 move that is >81 pips.
  • #89
  • Apr 4, 2012 1:18pm Apr 4, 2012 1:18pm
Quoting panguFX
can u see in the above trade, i keep moving and readjusting to the smallest h4 move that is >81 pips.

well, readjusting was not explained in the original rules. please tell us how you redjust with chart examples.
  • #90
  • Apr 4, 2012 2:17pm Apr 4, 2012 2:17pm
Quoting whatfx
well, readjusting was not explained in the original rules. please tell us how you redjust with chart examples.
its just the most recent move thats greater than 81 pips, look at my last two h4 pics. its like the last 3 h4 bars were greater than 81, i dont include the long h4 bar before it because the latest bars were the smallest most recent move that is greater than 81. u still need pics?
  • #91
  • Edited 6:42pm Apr 4, 2012 6:14pm | Edited 6:42pm
Quoting panguFX
its just the most recent move thats greater than 81 pips, look at my last two h4 pics. its like the last 3 h4 bars were greater than 81, i dont include the long h4 bar before it because the latest bars were the smallest most recent move that is greater than 81. u still need pics?
So Pangu, does the "recent" in rule 1
1) Using a 4 hour chart, find a recent move that exceeds 81 pips.
make the selecting of your >81 pips range very dynamic & moving with the market ?

The other dynamic area seems to be the swapping to the latest extended bar and adjusting the pending trade.

They are good pics Pangu, pity mine are IBFX and dont fit >81 over that area after the large down bar.
(in hind sight) Would of had to go out to 132.1 pips after the 13:00 gmt 30min bar. TFH -sleep time here.
Coulda maybe scrapped out 10 pips on its retrace. Ha - bet it would have got within 0.1 pip of my TP and headed for BE+1.

cheers scalpz
Target 2 : Stoploss in the green
  • #92
  • Apr 4, 2012 6:41pm Apr 4, 2012 6:41pm
Quoting panguFX
its just the most recent move thats greater than 81 pips, look at my last two h4 pics. its like the last 3 h4 bars were greater than 81, i dont include the long h4 bar before it because the latest bars were the smallest most recent move that is greater than 81. u still need pics?

i understand what you are saying. but the long h4 bar 81 pips exhausted at around level 13258.

so are you not supposed to count the next 81 pips move from that level ? i.e. from 13258 to 13177. ? in which case there would be no trade triggered.

so it is vague what criteria you are using. you didnt even take the move from the open of the next h4 candle that came after the long h4 candle. instead you opted for the move from the 3rd h4 candle that came adter the loing h4.

why the 3rd candle and not the previous two ?

there must be some sort of criteria to decide what candles to count the move from ?
  • #93
  • Edited 6:53pm Apr 4, 2012 6:51pm | Edited 6:53pm
Quoting whatfx
...
so it is vague what criteria you are using. you didnt even take the move from the open of the next h4 candle that came after the long h4 candle. instead you opted for the move from the 3rd h4 candle that came adter the loing h4.

why the 3rd candle and not the previous two ?
...
The fib is moved out as the pending trades aren't hooked/ taken.
Scroll back & forwards between post 84 & 87 looking at Pangu's H4 charts. See how he has slide the fib out untill a pending can be placed and taken.

Remember you may be looking at different H4 bars like me.
But the strategy still applies. Catch that pentup energy in the retrace.

cheers scalpz
Target 2 : Stoploss in the green
  • #94
  • Apr 4, 2012 6:57pm Apr 4, 2012 6:57pm
Quoting scalpz
So Pangu, does the "recent" in rule 1
1) Using a 4 hour chart, find a recent move that exceeds 81 pips.
make the selecting of your >81 pips range very dynamic & moving with the market ?

The other dynamic area seems to be the swapping to the latest extended bar and adjusting the pending trade.

They are good pics Pangu, pity mine are IBFX and dont fit >81 over that area after the large down bar.
(in hind sight) Would of had to go out to 132.1 pips after the 13:00 gmt 30min bar. TFH -sleep time...
well its the same thing over and over again. the last move of >81 pips has already been harvested, so now we just wait for it to move another 81 or more. 132 pips shouldv worked, well sleep time is more important, hehe. don't be afraid to post your ibfx pic, then we can compare the H4 bars.
  • #95
  • Apr 4, 2012 7:02pm Apr 4, 2012 7:02pm
Quoting panguFX
well its the same thing over and over again. the last move of >81 pips has already been harvested, so now we just wait for it to move another 81 or more. 132 pips shouldv worked, well sleep time is more important, hehe. don't be afraid to post your ibfx pic, then we can compare the H4 bars.

as i said, after the long candle 81 pip move. the next 81 pip would have taken you to level 13160. why didnt yiou take that one ?
  • #96
  • Apr 4, 2012 7:05pm Apr 4, 2012 7:05pm
Quoting whatfx
as i said, after the long candle 81 pip move. the next 81 pip would have taken you to level 13160. why didnt yiou take that one ?
sorry, i don't exactly understand your question.

draw me a picture, if u can.
  • #97
  • Apr 4, 2012 8:32pm Apr 4, 2012 8:32pm
Quoting whatfx
as i said, after the long candle 81 pip move. the next 81 pip would have taken you to level 13160. why didnt yiou take that one ?
my predictions for the future....
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  • #98
  • Apr 4, 2012 8:48pm Apr 4, 2012 8:48pm
Quoting panguFX
my predictions for the future....
So do you exclude using any or those red bars to the left of your arrows because the energy/pips have been "harvested" in the retrace between the start of your drawn arrows?

cheers scalpz
Target 2 : Stoploss in the green
  • #99
  • Apr 4, 2012 8:54pm Apr 4, 2012 8:54pm
Quoting scalpz
So do you exclude using any or those red bars to the left of your arrows because the energy/pips have been "harvested" in the retrace between the start of your drawn arrows?

cheers scalpz
yes!
  • #100
  • Apr 4, 2012 9:03pm Apr 4, 2012 9:03pm
Quoting panguFX
yes!
Yeah - seeing some light.

Have been digging around trying to make a standard Fib Extension draw the intended retrace. The MT4 supplied indi has 3 points to position, but wont quite do what I want for this strategy.
Is available from the Insert / Fib menu.

Anybody got an mq4 file for a Fib extension.

cheers scalpz
Target 2 : Stoploss in the green
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