fib. expansion and retrace in forex

[targus]

Now this is where I struggle, do I ride it to the top and stay long or take profit now?

 

[targus]

wrong pic, meant to post this one.

 

[shopster]

use a trailing stop and "sit on your hands."

you have a revese H and S at the second triangle

let the market take you out.

look at the vector bars up , it has legs.

s

 

[targus]

S

Thanks.

Reverse H&S? Can you show me, I can't see it?

 

[targus]

Yes, I think see it now at the beginning of the trade.

 

[shopster]

targus,

you need to get the basics down.

http://stockcharts.com/school/


this thread is on fib extension and diverge.
not basic training.

s

 

[Dominic]

Thanks for sharing your indicators, expirence and knowledge with us S; for anyone using Ninjatrader, I paid a programmer to convert the two indicators that S so kindly shared with the group into NT format from the MT4 code.

If you would like a copy emailed let me know via private message.

Dominic

 

[targus]

D,

You should have tried the guys over at forexstd they would have done it for free.

 

[tatsimon]

Hi S,

I am going over ur charts and have a two questions...

1) I cant see the hist divergence on the long trade u placed..could u plz explain how to read the long entry?

2) I see major divergence with second pair of white lines drawn...is this a short signal...if not, why?

tks

 

[shopster]

there are 2 trades

the first on is a DB with diverge to the 89 money line area

the left side.

the second trade is a .86 retrace of the first DB in the center of the chart.

a re-test the bottom one more time........

the macd crosses over on its own zero line and heads north on the histos.

there are no short trades on this pic..........

you have higher highs and higher lows all the way up.

partial lot exit doors, if you are so inclined, are the fib. expansions going north.

1.6 2.6 3.14 and 4.2.

or stop and replace the entire multi lot position and " ride the pony " to the "full pull 4.2 " exits.

at 4.2 the histo bars are diverged..

take your dough and go....

s