Fibo Magic with Price action Risk Reward 1:3 | Forex Factory

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Fibo Magic with Price action Risk Reward 1:3

  • #1
  • First Post: Edited 3:56am Oct 16, 2013 1:17am | Edited 3:56am
Fibonacci + Price Action thats the two thing i find which can make constant money.Risk reward is important so lets try Risk Reward 1:3 Breakeven on 1:1

Price action Chart:

http://instaforexpips.com/wp-content...ck-pattern.jpg

I am adding a loosing account here . lets work with recovery of this account.so you guys can really see. i take trades from posted chart here to my real account or showing Demo and charts ( Attached Last Trade Chart as an Example )

I know my strategy is very boring , No Indicator No Fancy Stuff and others .. but guys Mr Fibonacci born 1170 ...think that time no indicator no computer . even @2013 we can't think about trading without Fibonacci. Personally i believe Steve Nison and Fibonacci all you need for forex trading. It will be appreciated if you guys post charts and personal experience with Fibonacci Retracement...

Example Trade closed = +46 Pips

Verification of this trade can found on my Trade Explorer . Thank You
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 38 KB
"Know what you own, and know why you own it" — Peter Lynch
  • #2
  • Oct 16, 2013 1:53am Oct 16, 2013 1:53am
This is the trade i will take next .. looking at 0967

I write Aggressive .. but i will watch 5 min chart tendency before enter


Aud/Usd Sell ( Chart Attached )
Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily.png Size: 31 KB
"Know what you own, and know why you own it" — Peter Lynch
  • #3
  • Edited 6:15am Oct 16, 2013 2:42am | Edited 6:15am
Eur/GBP teased Fib support Lets try some Buy ....


Now after 1 Hour .....

Trade Closed = +20 pips
All Trades Live you can verify with Forexfactory's Trade Explorer .. No Hide and Seek game or Posting Previous Chart Examples
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbph4.png Size: 44 KB
Click to Enlarge Name: eurgbph.png Size: 37 KB
"Know what you own, and know why you own it" — Peter Lynch
  • #4
  • Oct 16, 2013 3:11am Oct 16, 2013 3:11am
risk reward 3:1 ? you want to risk 3 $ to make 1$ ?
  • #5
  • Oct 16, 2013 3:13am Oct 16, 2013 3:13am
Quoting marley60
risk reward 3:1 ? you want to risk 3 $ to make 1$ ?

lol i am so sorry ... thanks for that ...

Risk : 1 $

Reward : 3 $ thanks ...
"Know what you own, and know why you own it" — Peter Lynch
  • #6
  • Oct 16, 2013 3:32am Oct 16, 2013 3:32am
Quoting gyanpapi
{quote} lol i am so sorry ... thanks for that ... Risk : 1 $ Reward : 3 $ thanks ...
great thread, keep it up.
Price Is The Best Indicator Itself.
  • #7
  • Oct 16, 2013 4:36am Oct 16, 2013 4:36am
Quoting Redddz
{quote} great thread, keep it up.

Thanks Buddy Appreciated
"Know what you own, and know why you own it" — Peter Lynch
  • #8
  • Oct 16, 2013 4:55am Oct 16, 2013 4:55am
Quoting gyanpapi
Eur/GBP teased Fib support Lets try some Buy .... Now after 1 Hour ..... All Trades Live you can verify with Forexfactory's Trade Explorer .. No Hide and Seek game or Posting Previous Chart Examples {image} {image}
gyanpapi, many thanks for sharing. I will follow. My question, any reason that you made a buy on the 61.8%? I cant see any candle stick formation there. Also, how do you sure that price is not going down to 38.2 level? Because I have seen many times that way.
  • #9
  • Oct 16, 2013 5:01am Oct 16, 2013 5:01am
Quoting mario777
{quote} gyanpapi, many thanks for sharing. I will follow. My question, any reason that you made a buy on the 61.8%? I cant see any candle stick formation there. Also, how do you sure that price is not going down to 38.2 level? Because I have seen many times that way.

0.8437 is Eur/GBP Weekly Piviot Support 1 ........ also its 61.8 of Swing up in Daily Chart .... any Trader will start close Sell there as its a profit taking zone .. and buyers jump like hell as its a position zone.

This is Aggressive .. you can enter the Pin bar created on Fibo support. but as you can see i am dealing with micro account i don't have money for afford 40 pip stoploss .. i need to be aggressive
"Know what you own, and know why you own it" — Peter Lynch
  • #10
  • Oct 16, 2013 5:17am Oct 16, 2013 5:17am
Why does it seem like you are using Fibs upside down?
  • #11
  • Oct 16, 2013 6:00am Oct 16, 2013 6:00am
Quoting FXKabab
Why does it seem like you are using Fibs upside down?

Hi bro you are absolutely right on this .. but when ever i draw right fibo 161.8 fibo go to opposite side! i am fed up... as levels are static if you draw wrong or right Price price is same .. so i decided for go with wrong on mt4
Attached Image (click to enlarge)
Click to Enlarge Name: grrrrr wrong.png Size: 26 KB
"Know what you own, and know why you own it" — Peter Lynch
  • #12
  • Oct 16, 2013 6:13am Oct 16, 2013 6:13am
right, forgot the fib retracement tool in MT4 is wonky as I removed the fib extension numbers from mine.
try editing your fib properties and adding a "-0.618" line to give you the proper 1.618 extension target.

Or, use the fib expansion tool on MT4 as a more accurate way to project targets?
  • #13
  • Oct 16, 2013 7:07am Oct 16, 2013 7:07am
why this thread moved to Trading Journal .. i have a Journal thread of my own! Mod's ? why its not consider as strategy ? do i have to use custom indicators for listed this thread on strategy!? arhhh! anyways i will not go with this thread anymore then
"Know what you own, and know why you own it" — Peter Lynch
  • #14
  • Oct 16, 2013 7:42am Oct 16, 2013 7:42am
Hi Admin .
I think that gyanpapi is right : his is a real and interesting Trading System , with indicators and specific rules. So his place is with other TS.
This is my opinion.
Regards.
  • #15
  • Oct 16, 2013 9:48am Oct 16, 2013 9:48am
Quoting franz
Hi Admin . I think that gyanpapi is right : his is a real and interesting Trading System , with indicators and specific rules. So his place is with other TS. This is my opinion. Regards.

Thanks Franz ... its feel good .. when your work gt appreciated. please stay subscribed .. and you will find its worth learning. i will keep updating this if peoples r interested
"Know what you own, and know why you own it" — Peter Lynch
  • #16
  • Edited 3:54pm Oct 16, 2013 10:42am | Edited 3:54pm
NZD USD .. Try to tease fibo! sell off .... Thursday is a Red! candle! Hope so... lets see .. Kiwie can mess with Fibo or not

Stoploss 20 Pips Target 60 Pips

All Trades Live you can verify with Forexfactory's Trade Explorer .. No Hide and Seek game or Posting Previous Chart Examples

NZD Update chart ...Stright drop 30 pips after teasing daily fibo .. Chart Posted
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzdusddaily.png Size: 40 KB
Click to Enlarge Name: nzdusdm5.png Size: 36 KB
"Know what you own, and know why you own it" — Peter Lynch
  • #17
  • Edited 10:13pm Oct 16, 2013 3:52pm | Edited 10:13pm
CAD JPY Dare to tease fibo!

Sold Cad Jpy : 9568 Stoploss 25 Pips target 250 Pips 1:10 RR finger crossed

All Trades Live you can verify with Forexfactory's Trade Explorer .. No Hide and Seek game or Posting Previous Chart Examples


SEE Second chart .. this will happen if you mess with fibo!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadjpyh4.png Size: 40 KB
Click to Enlarge Name: cadjpym15.png Size: 35 KB
"Know what you own, and know why you own it" — Peter Lynch
  • #18
  • Oct 16, 2013 8:33pm Oct 16, 2013 8:33pm
Hi gyanpapi,

I really like your thread which you have taught me some wonderful knowledge that I have never had. Thanks. Hope that this thread can be continue and you can input us with more knowledge.

However, I am not quite sure why you had input the Fibo this manner. Usually, I thought, we should have drawn the Fibo from highest point to lowest point.

Kindly please enlighten me. Thanks a lot.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpyh4.png Size: 28 KB
  • #19
  • Oct 16, 2013 10:10pm Oct 16, 2013 10:10pm
Thanks at least two peoples find this useful , even admins here find its nothing more than a trading journal.! fed up!I am posting charts instantly.no hide and seek with live trade explorer ..very less strategy thread admins doing this. still no one looks interested..! maybe later i will frustrated and this thread will goes to morgue

anyways ... everything is a wave look at my first chart .. a nice down fall , if you want to enter with retracement you can just take the wave down, no need to cover the whole thing ....
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpyh1.png Size: 42 KB
"Know what you own, and know why you own it" — Peter Lynch
  • #20
  • Oct 16, 2013 11:02pm Oct 16, 2013 11:02pm
Please don't ignore this thread. This is really a good and nice thread. Please continue as far as possible. However, if you really are leaving, can you kindly advise me where will you be. I would like to follow.

Thanks.

Could you please advise whether 23.6 and 61.8 are the most critical points? In order to get into a trade, am I supposed to look out for these 2 points?
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