correct , hence the smaller fibs , become the larger fibs
![](https://resources.faireconomy.media/images/emojis/64/1f60a.png?v=15.1)
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DislikedBartstop asked "But how do you know when to close your trade if price bounces off the 138 every time?"
Bouncing of the 138 is what I am looking for, that is how I am comfortable trading.
Choose a time frame (preferably larger than 1 minute) and take profit "every time" something is going to happen after each touch, it will go up.. or down
in ..tp, in..tp in..tp, then off to the __________ (beach , pool, mountains)
or would that be too much profit?
Exercisefor anybody,not just Bart)
On the move down from 134.62, find targets...Ignored
DislikedHey thanks for your comments. I've been sidetracking again and looking at Eggsters stuff. I've clicked what he is doing now, I think.
It seems a bit more gambly to me but looks effective if taken at the right levels. I'm sure it works as well otherwise Eggster wouldn't be wasting his time here so thanks to him for his efforts.
If I pull a straightforward 138 I have this fib setup. Blue was the completed upswing, red the current down.
Attachment
What was you going to say about Spain?
MD.Ignored
DislikedI AGREE,
Risk is crazy on the the one minute GY (7 spread), this is an exercise that when understood , works on all TF's.
In my example, all the targets are forward pulled.Ignored
DislikedI AGREE,
Risk is crazy on the the one minute GY (7 spread), this is an exercise that when understood , works on all TF's.
In my example, all the targets are forward pulled.Ignored
DislikedAm I on the right track? I'm assuming the TP would be the new blue target?Ignored
Dislikedhaha no worries mate... we are short on gy overall. so yes that fib will hit...for some reason i show all long closed off still..i cannot replicate your chart showing a long break on that time frame.. i just see short gy for at least 100 pips... the higher the beast goes the better to short it...but i am not trading this week probably.also...uy is daily massively short...after having interim taken profit to the pip and turned from the daily low retest.. so..again I will eat your shoe if I am wrong..if I was in my lab i could break it down...Ignored
DislikedThom I think BarTstop had the same problem with GY, it's data. 4 pips seems to be the enigma, still good to witness this problem.
MD.Ignored
DislikedThom's deleted post made me realize something. Price didn't "overshoot" it's target. The market has indicated it's intent to move further south. With that being said, taking longs is risky to say the least.
BartstopIgnored
DislikedI think a single candle piercing S/R should be very suspect. 3 or 4 is a different story.Ignored
Dislikeda pip pierce is a pierce but just check it out.. i am not saying anything about anything making me a better or worse trader then anyone else.. i have been in front of screens for 16 years and the last 3 i believe those screens had Skunny fibs on them.
That 138.2 hit.. doesnt mean no more long at all just gives me a great starting point to trade from for now.
TkIgnored
DislikedYes there can be allowances for data, normally on a one minute it is relatively small ( not extrapolated very much)Ignored