I edited my strategy. So I decided to start a new thread.
This is the previous thread:
https://www.elitetrader.com/et/threads/analysis-and-signal.340008/
This is a part of the strategy. Read this thread before reading anything else:
https://www.elitetrader.com/et/threads/a-strategy-that-is-a-secret.339655/
You should trade when the price comes back to the break point. It often happens. About 99%. For finding return points, 61.80% , 100% , 161.80% lines of fibonacci are the most important lines.
You need experience. Check the past to see more examples.
How I trade?
For example, In an uptrend trend line, When the price breaks out the trend line, after 60 pips, I buy. I put 40 pips TP and put the SL, 50 pips in below of the 261.80% of the fibonacci.
The SL is so big but I have to put a big SL. And it profits about 99%. Check the past.
If the price touched the 100.0%, I buy again. I put the TP on the first TP and put the SL, 50 pips in below of the 261.80% of the fibonacci.
If the price touched the 161.80%, I buy again. I put the TP on the first TP and put the SL, 50 pips in below of the 261.80% of the fibonacci.
Sometimes 161.80% of the fibonacci is near to the break point. In these cases, I use the 261.80% instead of the 161.80%.
Work in the H4 time frame.
For the first trade, Sometimes I wait more than 60 pips for a better TP.
If the price touched the 261.80%, I buy again and the volume will be *3. I put the TP on the first TP and put the SL, 500 pips in below of the 423.60% of the fibonacci.
For a 1000$ account the volume should be 0.01.
This is the previous thread:
https://www.elitetrader.com/et/threads/analysis-and-signal.340008/
This is a part of the strategy. Read this thread before reading anything else:
https://www.elitetrader.com/et/threads/a-strategy-that-is-a-secret.339655/
You should trade when the price comes back to the break point. It often happens. About 99%. For finding return points, 61.80% , 100% , 161.80% lines of fibonacci are the most important lines.
You need experience. Check the past to see more examples.
How I trade?
For example, In an uptrend trend line, When the price breaks out the trend line, after 60 pips, I buy. I put 40 pips TP and put the SL, 50 pips in below of the 261.80% of the fibonacci.
The SL is so big but I have to put a big SL. And it profits about 99%. Check the past.
If the price touched the 100.0%, I buy again. I put the TP on the first TP and put the SL, 50 pips in below of the 261.80% of the fibonacci.
If the price touched the 161.80%, I buy again. I put the TP on the first TP and put the SL, 50 pips in below of the 261.80% of the fibonacci.
Sometimes 161.80% of the fibonacci is near to the break point. In these cases, I use the 261.80% instead of the 161.80%.
Work in the H4 time frame.
For the first trade, Sometimes I wait more than 60 pips for a better TP.
If the price touched the 261.80%, I buy again and the volume will be *3. I put the TP on the first TP and put the SL, 500 pips in below of the 423.60% of the fibonacci.
For a 1000$ account the volume should be 0.01.
