{quote} One Advice From me Fibonacci is Bullshit
- #441
- Jun 9, 2014 9:13am Jun 9, 2014 9:13am
- Joined Aug 2007 | Status: Doing It In Dubai | 2,457 Posts
Here a test with Tomcat98 Indicator . {image}
And the line got black at opening of the following candle.
No more lower levels for now given by the indi, even if in my concept there would be a next one at around 1.3479
So I opened a long trade (2 actually very near) at the touch of the level....
The next upper level of 1.3613 seem to me a bit "too forced" to be correct, but on the way up to 1.3648 (clearer to my for the "logic" of the concept) it would be hit anyway...
No Idea of "When", but let's see....
Still trying to understand what I do and why
But I keep walking....
{quote} Well the lowest level was hit. And the line got black at opening of the following candle. No more lower levels for now given by the indi, even if in my concept there would be a next one at around 1.3479 So I opened a long trade (2 actually very near) at the touch of the level.... The next upper level of 1.3613 seem to me a bit "too forced" to be correct, but on the way up to 1.3648 (clearer to my for the "logic" of the concept) it would be hit anyway... No Idea of "When", but let's see.... Still trying to understand what I do and why
Same as you Whenever. See attached
Open two long positions too with different take profit levels. Will see how it will reach these levels
Green pips to all
Quoting shiva (http://www.forexfactory.com/showthread.php?p=7386260#post7386260)
Some people here said "Many people can predict where price will go but not when" EurUsdd has already answered that - "Before the bar leaves your screen" Should be obvious
If its a 4 hr chart he forecasting the price to reach a given level in 4 hours
Thank you. At least there is still hope for the world. Now everyone is lost.
ut the underlined statement is not exactly true. Before the BAR leaves your screen, price should hit the target. Your chart shifts every time there is a new bar. so, before the target bar leaves your screen, price should hit the target
Two options: UP or DOWN!!! That should be EASY.
Quoting Nidolap (http://www.forexfactory.com/showthread.php?p=7386527#post7386527)
{quote} Well, count me in. I am not a full time trader also but with those withdraws values you showed us I don't see why I shouldn't be.
You are welcomed! When we decide that a price level is reachable (most within 24 hrs, before the bar leaves your screen), I will be glad to hear from you how the level fits into your plans too. We are all traders and you must have your own plans. I am not going to dictate to you to throw your price targets away for mine. But you will realize with time that my levels are reliable.
Your contribution will be valuable if you focus on helping other critique - constructively - the levels we post here.
Thank you and more pips to you.
Quoting Wflori (http://www.forexfactory.com/showthread.php?p=7386690#post7386690)
Hello, I read your topic and it is interesting, especially since I have a similar strategy from what I saw in your pictures. But the problem in my strategy which is on a post-it on my wall (and not running live beacause of the following problem) is the drawdown, and I think you have the same problem, when I look at your pictures. You know where the price will be, but not knowing when makes you having a certain drawdown on your account until the trade finishes. So how do you manage these drawdowns ?
There is no problem with this approach. When an orange/yellow arrow appears on a bar, price should return to the top/bottom of the bar before the bar completely leaves your screen. So all you have to do is enter anywhere and wait for the correction. Now on the 1hr chart, 50-100pips is a good place to enter.
Last post is about pips and distance as eurusdd said .
first posts are for timing .also is eurusdd posts. at early pages
Some people here said "Many people can predict where price will go but not when" EurUsdd has already answered that - "Before the bar leaves your screen" Should be obvious
If its a 4 hr chart he forecasting the price to reach a given level in 4 hours Thank you. At least there is still hope for the world. Now everyone is lost.
ut the underlined statement is not exactly true. Before the BAR leaves your screen, price should hit the target. Your chart shifts every time there is a new bar. so, before the target bar leaves your screen, price should hit the target
Two options: UP or DOWN!!! That should be EASY.
Quoting Nidolap (http://www.forexfactory.com/showthread.php?p=7386527#post7386527)
{quote} Well, count me in. I am not a full time trader also but with those withdraws values you showed us I don't see why I shouldn't be.
You are welcomed! When we decide that a price level is reachable (most within 24 hrs, before the bar leaves your screen), I will be glad to hear from you how the level fits into your plans too. We are all traders and you must have your own plans. I am not going to dictate to you to throw your price targets away for mine. But you will realize with time that my levels are reliable.
Your contribution will be valuable if you focus on helping other critique - constructively - the levels we post here.
Thank you and more pips to you.
Quoting Wflori (http://www.forexfactory.com/showthread.php?p=7386690#post7386690)
Hello, I read your topic and it is interesting, especially since I have a similar strategy from what I saw in your pictures. But the problem in my strategy which is on a post-it on my wall (and not running live beacause of the following problem) is the drawdown, and I think you have the same problem, when I look at your pictures. You know where the price will be, but not knowing when makes you having a certain drawdown on your account until the trade finishes. So how do you manage these drawdowns ?
There is no problem with this approach. When an orange/yellow arrow appears on a bar, price should return to the top/bottom of the bar before the bar completely leaves your screen. So all you have to do is enter anywhere and wait for the correction. Now on the 1hr chart, 50-100pips is a good place to enter.
Last post is about pips and distance as eurusdd said .
first posts are for timing .also is eurusdd posts. at early pages
