fib. expansion and retrace in forex

[tomahawk]

Quote from shopster:

After watching the same 4 to 6 forex pairs, you start to easily understand how they trade and what moves them.

It’s pattern recognition.

Interesting thread shopster, and great looking charts. I do have a couple questions about your last EUR/AUD chart.

#1 - The point at which you set the fibs, 0 being the LOD and 100 being the high of the bar that gapped above the MA (unless I'm missing something) ... what is the rationale for using that specific range from which to set the fib extensions? (basically, what is the importance of that high at that moment?)

And #2 - the pullback did not even touch 50%, and in some of your posts you seem to suggest your ideal entry is a turn @ the 86% p/b (unless I misinterpreted, which is entirely possible) ... what makes the setup in this chart different?

TIA

 

[shopster]

euro aussie 30 min.
db
diverged

the pin bar spikes make it look messy.

the market does not always hand you a perfect chart.
diverge is the first clue.

a " market reset. "

add the zero lag indi. found in this thread to the chart.

the cross over of the histo bars plus the 3 shop emas in proper alignment for trend can be your trigger.

this pair was a full db.

s

 

[tomahawk]

Quote from shopster:

euro aussie 30 min.
db
diverged

the pin bar spikes make it look messy.

the market does not always hand you a perfect chart.
diverge is the first clue.

a " market reset. "

add the zero lag indi. found in this thread to the chart.

the cross over of the histo bars plus the 3 shop emas in proper alignment for trend can be your trigger.

this pair was a full db.

s

Understood. Thnx.

 

[HATEtheRisk]

Quote from MBC:

Ok great.

...... this is short term trading. should be very mechanical


Longer term trading involves more about "context" of broader markets for entries and exits. However longer term trading definite has profit factors and many more measures

not for me.

i do short and long term trading and i do it all in the same way.

each timeperiod have special rules, but they are all mechanical.

the expected profit is everywhere the same, i take what the market gives me, before the momentum changes.

only difference is on longer time trades, i can bet more and make more, cuz the price move is bigger and the timing has more space.....

 

[shopster]

sometimes the reset is hidden in a box.

when it breaks out, fib it out.

i have reached the century mark on this thread and it will be wound up.

chart pattern , divergence and fib expansion all work together as a trading method.

if you study and practice what has been written, you have an excellent chance at winning in the trading game.

cheers,

s

 

[shopster]

when they dt at the 5.7 with diverge, don't be long and wrong.

breakout guys zip.

puke it out......

s

 

[shopster]

back 2 back 5.7 trades with the 3 sisters tossed in the mix.

a " cahuna sandwich " , so to speak...

3 sisters " needle work " on the second trade long setup

s

 

[shopster]

not all trading setups are crystal clear.

there are clues and road signs along the way.

take the time to read them and stay between the fence posts.

3 sisters pins out the new short pendings, a clean and jerk back up to blow the stops.

diverged histo cross over was the trigger.

the ride back up was bumpy, but the target was finally reached.

s

 

[shopster]

one for the road.......

cheers,

s

 

[ElectricSavant]

At the request of the Thread Author I am closing this thread.