DislikedI know this is not an ideal set up, but i took this trade anyway as soon as i saw the price hitting 61.8@ fibo. risking 27 pips seemed worth a shot.Ignored
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DislikedI know this is not an ideal set up, but i took this trade anyway as soon as i saw the price hitting 61.8@ fibo. risking 27 pips seemed worth a shot.Ignored
DislikedI know this is not an ideal set up, but i took this trade anyway as soon as i saw the price hitting 61.8@ fibo. risking 27 pips seemed worth a shot.Ignored
DislikedThats not a bad entry, that was a tweezer bottom at the 61.8, almost at the TL, the market does not have to be exactly at the TL for you to enter.Ignored
DislikedAlso .. is there a thread that explains just how to identify the A & B points, I am still having a big problem with that when I look at a naked chart.Ignored
DislikedFirst thing you do when looking at a naked chart is draw the TLs, all that can be draw, connecting higher lows and lower highs. In an up trend your A would be where the TL start, B at the previous high, C at the TL from the retrace at B and D at the present high/extension from C. This process continues, C becomes A, D becomes B then you project a new C. The exact opposite for a down trend.Ignored
QuoteDislikedOriginally Posted by Dra http://www.forexfactory.com/images/buttons/viewpost.gif
First thing you do when looking at a naked chart is draw the TLs, all that can be draw, connecting higher lows and lower highs. In an up trend your A would be where the TL start, B at the previous high, C at the TL from the retrace at B and D at the present high/extension from C. This process continues, C becomes A, D becomes B then you project a new C. The exact opposite for a down trend.
DislikedThe past TLs are still valid, I'm not seeing where any new ones needed at the moment on my charts.Ignored
QuoteDislikedAlso .. is there a thread that explains just how to identify the A & B points, I am still having a big problem with that when I look at a naked chart.
QuoteDislikedHere's an example of what I mean .. in DAZfx's thread he identified the points A, B, C on this chart .. but according to what you're saying, the down arrow above the A would be the actual A (and I would think that too) .. so why did he pick the lower top as the A?
DislikedHere's an example of what I mean .. in DAZfx's thread he identified the points A, B, C on this chart .. but according to what you're saying, the down arrow above the A would be the actual A (and I would think that too) .. so why did he pick the lower top as the A?Ignored
DislikedI have a buy stop waiting for me at 1036....
We had a nice bounce pluss abounce of the 38.2 fibb...
DRA let me know if the backboard of that trendline has more respect then the bounce of this trendline....thanks
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DislikedI have a buy stop waiting for me at 1036....
We had a nice bounce pluss abounce of the 38.2 fibb...
DRA let me know if the backboard of that trendline has more respect then the bounce of this trendline....thanks
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