I saw your thread and it's very interesting. But i don't understand what is real reference for put Fibonacci. You said pivot point but you seem use zigzag highs and lows...
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DislikedI saw your thread and it's very interesting. But i don't understand what is real reference for put Fibonacci. You said pivot point but you seem use zigzag highs and lows...Ignored
DislikedI saw your thread and it's very interesting. But i don't understand what is real reference for put Fibonacci. You said pivot point but you seem use zigzag highs and lows...Ignored
Disliked... the most interesting part of his method is his "Zone Recovery" trading methodology, which is a hedging strategy. ....to make the sequence work mathematically to net pips upon a strike of either the upper or lower TP requires you to increase lot sizes over time ... and I could contemplate a situation where price wobbles back and forth over the Zone Recovery area for substantial periods of time ... and the exposure to that one trade could easily become 10 x equity. So part of the mathematical trick is to choose TP's that are achievable within...Ignored
Disliked{quote} If you use Trading Station, there are several different Pivot Point options available ... . Most people use what are called the "Classic" Pivot Points (R1, S1, etc.). But one of the options is what are called "Fibonacci Retracement Pivot Points." These are calculated by taking a particular time period's high and low (e.g., Daily, Weekly, etc.) and determining the Fibonacci levels for those. I use the "Daily" Fibonacci Retracement Pivot Points, which calculate Fib levels based on the previous trading day's high and low (the day runs from...Ignored
Disliked{quote} Here's a really good example: {image} You'll see by the chart that EUR/USD is in a downtrend. Where that is the case, I look to sell the pair and set up an entry order to sell it if and when price strikes the .764 level and to take profit when price strikes the .236 ... . All this particular chart has on it is the 1H 200 EMA and the Daily Fib Retracement Pivot Points which is all I need to determine (1) trend direction; and (2) entries/exits. Edit: Oops, I guess it does also have the ZigZag indicator on it, too. Quite frankly, I don't really...Ignored
Disliked{quote} Hello Zebra, The 'ZR', or I'd rather call it 'LMD - Let Market Decide' is a nice and tricky idea I also had it on my mind and gave quite a lot of thoughts and calculations to it. I even created an EA I set 'free' and it was just taking the necessary trades as price was passing the price levels. Nevertheless I had to come to terms with that it is just another martingale system with all its drawbacks regarding growing risk versus a constant reward, so sooner or later resulting in a loss. It only worked well in strong trending environments,...Ignored
Disliked{quote} I have doubt with this example. If you use previous H/L ( 1/22 ) for operate day 1/23, how can you sell at 0.76 fibo if day 1/23 is below 0.23 and day 1/21 you can't get that fibo levels you drawed because H/L not happened yet?Ignored
Disliked{quote} I have doubt with this example. If you use previous H/L ( 1/22 ) for operate day 1/23, how can you sell at 0.76 fibo if day 1/23 is below 0.23 and day 1/21 you can't get that fibo levels you drawed because H/L not happened yet?Ignored
Disliked{quote} Thanks. Now it's clear. I saw interesting alternative way for trading using your rules. If you want trade more short and less risk operations you can draw fibo between pivot points ( i use MT4 ) and only work inside 0.23/0.78 levels. Normally at that levels inside pivot level price do full travel with little reverse risk before touch tp fibo level... I hope this useful for extend your strategy.Ignored