Did something similar with this except even numbers. 100,200,300. Your strategy certainly may work better
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fib. expansion and retrace in forex
- Thread starter shopster
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With so much out there, systems, software etc., it should be easy!!
I see in one of your charts you use semaphors. There is quite a debate on these in regard to repaint/incorrect use etc., what is your view. Some just trade these on the 4hr or the daily, so they are always in a trade, short/long until the next semaphor.
Do you trade only the lower timeframes? Timeframes are also often talked about, you have one view saying anything less than 4hr timeframe is unreliable or just noise. Which is your preferred timeframe and why?
The attached cable daily shows a strong bull so to my mind it would be buys only on the lower timeframes, on pullbacks.
I see in one of your charts you use semaphors. There is quite a debate on these in regard to repaint/incorrect use etc., what is your view. Some just trade these on the 4hr or the daily, so they are always in a trade, short/long until the next semaphor.
Do you trade only the lower timeframes? Timeframes are also often talked about, you have one view saying anything less than 4hr timeframe is unreliable or just noise. Which is your preferred timeframe and why?
The attached cable daily shows a strong bull so to my mind it would be buys only on the lower timeframes, on pullbacks.
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the semaphores should show where the outer fib band is and can appear at these price levels.
they just happen to be on the one chart i posted.
i cut my teeth in the 80's trading 3 min sp500 futures hence the short term chart mentality.
i trade range bar only and a "5.7 full pull" from time to time on a 3 tick chart is all you need in the game.
find these setups, then sit on your hands while they trade to the numbers and you are now in the top 1%.
always dial in your edge to a time frame that suits you.
market trend is higher highs and higher lows or the reverse on all time frames.
98% of retail has no idea on what a trend is or how to read or define it.
the best EA out there is the one between your ears and less is more in screen time when trading.
s
they just happen to be on the one chart i posted.
i cut my teeth in the 80's trading 3 min sp500 futures hence the short term chart mentality.
i trade range bar only and a "5.7 full pull" from time to time on a 3 tick chart is all you need in the game.
find these setups, then sit on your hands while they trade to the numbers and you are now in the top 1%.
always dial in your edge to a time frame that suits you.
market trend is higher highs and higher lows or the reverse on all time frames.
98% of retail has no idea on what a trend is or how to read or define it.
the best EA out there is the one between your ears and less is more in screen time when trading.
s
S
Many thanks for sharing your experience and methods I have many questions and hope you will excuse my ignorance as we move on.
The arrows on your chart and the red box, do you trade the arrows/red box?
Also, the ma's what are the settings, do you enter a trade on arrow/ma cross plus divergence on the macd?
What timeframe do you mostly trade. I came across a term "wheels within wheels" which of course refers to timeframes/cycles, here lies my biggest problem in trading. There are numerous systems/reasons that provide logic to enter a trade be it ma cross, semaphor or fib location within that timeframe, for example the attached daily chart sits at the bottom fib so to my mind one should be long in any timeframe or long only on pullbacks unless you are what I have read a position trader and then one would be long fullstop!!
Fibs, they are great I find them truly amazing.
Many thanks for sharing your experience and methods I have many questions and hope you will excuse my ignorance as we move on.
The arrows on your chart and the red box, do you trade the arrows/red box?
Also, the ma's what are the settings, do you enter a trade on arrow/ma cross plus divergence on the macd?
What timeframe do you mostly trade. I came across a term "wheels within wheels" which of course refers to timeframes/cycles, here lies my biggest problem in trading. There are numerous systems/reasons that provide logic to enter a trade be it ma cross, semaphor or fib location within that timeframe, for example the attached daily chart sits at the bottom fib so to my mind one should be long in any timeframe or long only on pullbacks unless you are what I have read a position trader and then one would be long fullstop!!
Fibs, they are great I find them truly amazing.
Attachments
Trader since 1975, cowboy, fantastic.
Half twist / one legger / cork under water ??? Love it. However, this is shorthand or swaheli to me when you use these terms, would you mind () for a little while so I know what you are talking about and why, also my fibs are different to yours "I use 86???"
Can you tell us about timeframes and the one you use, how many trades and how many pips you take, for example how are you/would trade gbp/usd at this moment in time.
Thank you S
Half twist / one legger / cork under water ??? Love it. However, this is shorthand or swaheli to me when you use these terms, would you mind () for a little while so I know what you are talking about and why, also my fibs are different to yours "I use 86???"
Can you tell us about timeframes and the one you use, how many trades and how many pips you take, for example how are you/would trade gbp/usd at this moment in time.
Thank you S
my thread is on fib. expansion from a .86 or DT / bottom retrace with diverge on the second leg in the setup.
better known as a classix shop setup.
i do not trade time based charts
http://www.informedtrades.com/519503-range-bars-guide-using-range-bars.html
here is a link on range bars.
i trade this chart pattern only with diverge.
the 3 emas are all fib numbers......
the solid yellow line is called the money line and price always returns to it.
the dotted purple line is a major fib number and price when it crosses it , changes trend, in most cases.
i will post 2 or 3 more setups i use.
in all cases fib expansion is used for the exit door.
s
better known as a classix shop setup.
i do not trade time based charts
http://www.informedtrades.com/519503-range-bars-guide-using-range-bars.html
here is a link on range bars.
i trade this chart pattern only with diverge.
the 3 emas are all fib numbers......
the solid yellow line is called the money line and price always returns to it.
the dotted purple line is a major fib number and price when it crosses it , changes trend, in most cases.
i will post 2 or 3 more setups i use.
in all cases fib expansion is used for the exit door.
s
the reverse of a "roll n puke " is an "upchuck" trade.
turn your chart upside down.
same setup
the clues are in the red boxes.
you tell me what the setup is..........
final exit door was the 5.76 fib.
you also went short at the red line...........why............?
cheers,
s
turn your chart upside down.
same setup
the clues are in the red boxes.
you tell me what the setup is..........
final exit door was the 5.76 fib.
you also went short at the red line...........why............?
cheers,
s
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