Dynamic Fibonacci Grid - interactive trading

Friday (08/01)
@EUR/USD
+08 Pips.

This Thread is too dead, lets use it to gain experience from each other.

Sharing is caring.

I'll start with sharing some of the setups that I'm familiar with.

Trend(Phase3):

1. All time frames go in the same direction, the grid is aligned in order.
2. Current price above/below all averages, 1m leading followed by 5m 15m, 60m and you see ''clear roads" ahead with very few levels.
3. The trend continues until we get to phase 4.
4. Follow the trend, enter on pullbacks
5. The first and the second pullbacks in new trend have the highest probability for success
6. There is specific pattern for the reversal setup. So If you don't see this pattern, then you have higher probability for trend continuation. Very important to make the distinction between temporary correction and complete reversal.
7. A small correction during trend will not change the alignment between time frames (1m leading followed by 5m, 15m, 60m)

"Quicky" Entry (this is more risky 1m and requires more sniping experience):

1. 1. Trend and I like to see L1 5m on the grid
2. 2. "Gap" of 10pips(or more) to the next "Road Block"" level
3. 3. "Big" H1 candle movement with the trend
4. 4. Pull back to the 1m L1 (if the pullback is too small/big to the L1 I don't jump on it)
5. 5. If H1 candle made new daily H/L - be careful
6. 6. Higher probabilities: NOT ONLY TREND, BUT STRONG TREND BY LOOKING AT Daily RANGE AND PRICE FROM OPEN, price from open > 50% daily range

"T5" Entry (this is more reliable):

1. Trend (alignment between time frames (1m leading followed by 5m, 15m, 60m)
2. "Gap" of 10pips(or more) to the next "Slow Car" level
3. THE FIRST AND SECOND PULLBACKS HAVE THE HIGHEST WINNING RATE
4. Enter at 5m L1/L2 combined with other Levels

At all kind of trades i search to exit on:

1. 5-20 pips | the first "Road Block" | daily L/H | SDRange
2. All of those are excuses to exit
3. If I feel the price has momentum on my side I usually try to hold it longer or scale up. (still far from doing it well, I get trades ruined because of scaling up)

The images are 3 trades, 1 Quicky and 2 T5.
SD(Style 0) and DH/L lines(Style 2).

Bounce/Correction (Phase 4):

1. Market is overbought/oversold and we get natural reaction.
2. The price pulls back to the averages.
3. Then if there is strong pressure it will bounce again in the direction of the major trend and go to new high/low extending the trend.
4. At this stage the market will keep going back and forth between phase 3 and 4 until we get to phase 5(Reversal).
5. Sell overbought market at resistance levels, buy oversold market at support, use the fibo levels, the SD levels, and the new daily high or low
6. Little bit harder to trade, also with lower R:R potential.

"Correction" Entry (those are general guidelines):

1. 1. Strong Trend (I prefer not to see 15M and H1 L1,L2's )
2. 2. "Gap" of 20 pips(or more) to the L1(21sma) on 1 min
3. 3. Break 3 Blocks within a candle
4. 4. Do it around new Daily L/H
5. 5. Search the next 1m road block to sell/buy back to the averages

Exit (still working on exits):
10-20 pips | L1(21sma) on 1 min | first "Road Block" on 1 min | (whichever comes first)

The images are 3 trades, 3 Correction.
For the perceptive the second trade I changed the SD(Style 2) and DH/L lines(Style 0).

​

Today Trades

Kind of took the trend change during the day.

First trade USDCAD +28.
Second AUDJPY +15.
Third USDCAD, lost 8, maybe wrong stop?.

You are awesome! Im really trying to understand the system without looking at the charts. Its taking me awhile, very frustrating.

CAn you post more examples? They are very helpful! Thank you for sharing!

Hello everybothy

I am new here and surching for a good software for Forex trading. The Dynamic Fibonacci liks very interresting. Can anybody help me to find good software for trading Forexpairs. I have seen the colums above with lines and timeframes ?? Can anybody help me. I have been looking around and the most off the firm are broken or don t answer anymore???

Best regards

Peter Hennes

Yesterday's trades

Correction on USDCAD, my target was L1 @ 1M, I got stopped at BE.

Bounce on USDJPY 5m, I did exit +1.2 because news were coming in 10minutes, don't wanna gamble. (even tho price went to my target I don't care.)

Yeah I can, but you should share too.

Even losing trades are good examples to learn from, as long as you learn from them.

Today's Trades

Correction USDCAD, I didn't exit on the first time I met the L1 @ 1M I felt I'm on the right side. exit after it reached L1 at the second time, the price went higher, so what can we do at this situation?

1. Acknowledge by some parameters that you are on the right side and you are willing to risk the whole trade for the whole cake? (Greed)
2. Split the trade into 2 positions, 1 you take out at your virtual target and 1 push the limits? (Fear)
3. Maybe the target should be relative to the DailyRange or the H1 candle movement.
4. Maybe just collect consistent profits of 10+ pips.

I don't like to set constant parameters for exit/entry on trading, because it wont last eternal.

We need some collection of dynamic parameters to understand if the correction is happening and if so, where to exit?

I entered right after the 2PM news! I entered twice with 10 pips each entry.

I understand it's EURUSD.

I see you took a correction, looks nice.

Where did you exit?

What do you mean 10 pips each entry?

Yes, EURUSD. I entered twice at the same spot on the Fibo lines. I grabbed 10 quick pips on each entry. It eventually went to L1 on 1M. Didn't hold it.

a few minutes before Tokyo open. Waiting to see if we break out of the 1m channel for a buy.

An hour later, I am still not entering and glad I waited. As you can see the price reversed and is not only still in the 1m neutral range (yellow area), but now a neutral range is building on the 5m.

Entered a USDJPY BUY instead

After 8 pips a 4 pip trail is started



EDIT: A quick 5.4 pip gain

On the same pair, after the order closed, I waited to see what would happen. When the 1m lane came back to the L1 and L2 box, I waited for a surge upward and re-entered. Trailing stop initiated at 8 pips with a 4 pip trail.



Caught 12.8 pips on that one.

Hi ForexScotty,

Thank you for sharing.

I understand that you exit with trailing stop, why ?

EURUSD Correction Planning

If price will go up to the Magenta line i marked, within this H1, making new daily high I'll look for a short.

And of-course I won't short if my dynamic parameters wont last until it reaches that level.

EDIT:

Took it, it seem to be delicious!
99% of the trade I was on the right side.
I did exit after reached L1 @ 1M, which narrowed down to +6 pip.