fib. expansion and retrace in forex

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this was a really nice h&s trade.

i can locate DB, DT, tripples bottoms/tops patterns everywhere that works with fibs. But i locate patterns after they ve formed and i m not very sure on direction when entering a trade.

For example on the trade i attach I was thinking of entering short on a DT, inside a channel, diverged.
But after a few bars it forms a DB diverged as well. So I wonder, should i stay or should i go long since i m in a uptrend channel as well?
Finally i just didn't trade it... while i m writing this lines its going down on 138.2 level. I should ve gone short.

yes i know i need market experience... i think i ll write to Sanda to ask for some with extra fibs on the top! :D


first image - thinking of trading short AUD/CHF M15
 

Attachments

yes i know i need market experience......


I was thinking of entering short...........?

.............................................................
this is the problem in a nutshell



s


:cool:
 
Quote from shopster:

In forex, fib. math continues to work.

whether it is self fufilling , it does not matter.

the bottom line is your account equity number at the end of the week.

fib expansion is very powerful when drawn from a .86 retrace or a full DT or DB that has diverged on the second leg setup.

partial exit doors are at the 1.6, 2.6, and 3.2 fib. numbers

if price travels to a 4.2 or 5.7 expansion on this setup , it is called a " full pull " and in most cases the final exit door area for the trade.

move your profit stop up under the market and let price take you out.

i am using a 3 pip shop bar chart example in all cases.

cheers,

s
More...

15s281g.gif


In forex, fib. math continues to work.

How do you define "work"?
 
Quote from shopster:

yes i know i need market experience......


I was thinking of entering short...........?

.............................................................
this is the problem in a nutshell



s


:cool:
More...

he he

i supose it is

here s a tripple (or even more) bottom but has a supply area on the top so i m not sure if it will work

2zfqwq0.gif



5w8eb.gif
 
How do you define "work"?

.................................

Rump,

like this .......
and you should know better than to put it on a chart like a retail retrace trader.



s
 

Attachments

Quote from shopster:

so i m not sure if it will work.......??

................................

when you are sure, you have arrived....

s
More...

yes i think i got your point...

i was "afraid" to pull the trigger on five charts today. 4/5 of them reached TP. I need to be more... determined?
 
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