Hey guys I couldn't resist trading this when I saw the price running from the .764 fib line I closed the trade out with a 35.8 pip profit and now I am waiting for the high or low to be broken
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DislikedThis post: http://www.forexfactory.com/showpost...postcount=5156
gives you the correct levels to use and the reason why.Ignored
DislikedThis post: http://www.forexfactory.com/showpost...postcount=5156
gives you the correct levels to use and the reason why.Ignored
DislikedHi Raptor. You've never really mentioned how you use fibs, if you do that is. Do you?Ignored
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Have you seen whats called a "1-2-3" set up? That's really all we are doing here. Sometimes it gets a little more complicated than that but really, that's all fibs do is predict where the "3" will end up. Let's start with the current GU chart. See how my fib is drawn. That sharp drop in price is probably a breakout from a previous "cycle". I have measured from the high to the low. From 100 to...Ignored
DislikedI was looking at this software comapy's homepage. Seems like they've cracked the fib code... and if you want to pay then $16.000 for the privelege... good for you.
Thing is, they have a video there on how they use fibs and confluence to find market entries and exits. In order to do something like what they are doing in MQL4, you'd probably need to involve MySQL database or something.
http://www.nexgent3.com/index.php?mod=t3Ignored
DislikedI was looking at this software comapy's homepage. Seems like they've cracked the fib code... and if you want to pay then $16.000 for the privelege... good for you.
Thing is, they have a video there on how they use fibs and confluence to find market entries and exits. In order to do something like what they are doing in MQL4, you'd probably need to involve MySQL database or something.
http://www.nexgent3.com/index.php?mod=t3Ignored
DislikedAnybody looking for some help that is similair to the teachings here on S/R breakouts should google "Nial Fuller's" he has alot of videos and articles that teach about the dreaded pin bar that Skunny warned us about and most of it's free. One of the things I found very interesting was his Fakey's setups to me it's classic Skunny. When I read his article on My Price Action Setups: Pin Bars, Fakey's, Inside Bars I realized that the only price action I remebered Skunny ever talking about was the dreaded pin bar and this explains...Ignored
DislikedI suppose with the fibs I'm trying to pull I am starting with s/r, a swing high or lowIgnored
DislikedI don't want anyone to stray from their path because of anything I say . . . DYOR . . . but I believe not all swing highs and lows are equal. If you are using Fibs and entering a trade on the break of the 0/100 then, IMO, you want a high/low that is going to get broken not rejected from . . . using a high/low that has had a strong fast move away from it can, IMO, lead to false trade entry triggers.
I remember Level 42 from my student daysweren't they named after the top level of the highest multi-storey car park in the world ?
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DislikedNot sure if you are pulling my leg or not mate. Level 42 was taken from the book Hitchhikers guide to the galaxy.
MD.Ignored
DislikedLooks like someones been doing their homework. I think the pierce then a pullback to inner levels is important.
MD.
P.s embarrassingly I need to ask what DYOR means. Is it do your own research?Ignored