PowerTrading/The River - page 33
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Ok. Here is my question i just took fresh chart from GBPJPY.
So i want ask. From yesterday I draw Fibo, this is on left side two white lines.
Then today price broke 61.8% and retraced back then broke again it I was already long, and took profit on 123 level.
So after this I draw Fibo to look how much GJ will retrace at what percent, so it retraced to 38.2% I reentered Long but it is now behaving strange. So I want yours suggestions are my way right or completely wrong, I use zigzag for better drowings for my self.
P.S
USDJPY retraced to 61.8%, so went back and now they both GJ and UJ falling.
PP.SS
So last thing, tomoroww I wake up, and I will draw Fibo from TODAYS LONG movement so like from low till high holding 0 lever on up side, but what if price brak 0 level up??? It is always confusing me...
Example
Ok. Here is my question i just took fresh chart from GBPJPY.
So i want ask. From yesterday I draw Fibo, this is on left side two white lines.
Then today price broke 61.8% and retraced back then broke again it I was already long, and took profit on 123 level.
So after this I draw Fibo to look how much GJ will retrace at what percent, so it retraced to 38.2% I reentered Long but it is now behaving strange. So I want yours suggestions are my way right or completely wrong, I use zigzag for better drowings for my self.
P.S
USDJPY retraced to 61.8%, so went back and now they both GJ and UJ falling.
PP.SS
So last thing, tomoroww I wake up, and I will draw Fibo from TODAYS LONG movement so like from low till high holding 0 lever on up side, but what if price brak 0 level up??? It is always confusing me...You have a lot of stuff on your chart so the best way I can show you what I do with fibs on gyen from yesterday. Now I might have done another pull including friday or all the way back to where the downward move began. This is 1hr timeframe but you could draw on other tf's as well.
You have a lot of stuff on your chart so the best way I can show you what I do with fibs on gyen from yesterday. Now I might have done another pull including friday or all the way back to where the downward move began. This is 1hr timeframe but you could draw on other tf's as well.
yes i use steiniz system i dont use ea only system it made as for me
I am drawing exactly as you showed.
But next howw for example you determine where it goes???
break of 61,8 or how?
Also isnt it correct as I showed to see now after movement that it retraced to 38% and will go up it almost took my target at 123% of fibo where it stuck before?
P.S after level 100% you have empty, I added 123 and 138% and knew that GJ wil suck on 123% and it does.
Yessss finaly it took my cool pips from retracement and still went back testing 235,42
Yes
yes i use steiniz system i dont use ea only system it made as for me
I am drawing exactly as you showed.
But next howw for example you determine where it goes???
break of 61,8 or how?
Also isnt it correct as I showed to see now after movement that it retraced to 38% and will go up it almost took my target at 123% of fibo where it stuck before?
P.S after level 100% you have empty, I added 123 and 138% and knew that GJ wil suck on 123% and it does.Good work and I think you understand my thinking. You went to a previous area of consolidation. The best we can do is give an educated guess on where we will go. Once we are in profit we can choose to take our pips in a number of ways. One way I am able to get the maximum pips in a trade is by using multiple positions. Once I have put some money in the bank it is much easier to let the other position run out as far as it will go. I will continue to move SL up as profits increase. The key is once you hit your target pips, move your sl or place a trailing stop and take as much as possible without giving too many back when it turns.
PT
The same way
Good work and I think you understand my thinking. You went to a previous area of consolidation. The best we can do is give an educated guess on where we will go. Once we are in profit we can choose to take our pips in a number of ways. One way I am able to get the maximum pips in a trade is by using multiple positions. Once I have put some money in the bank it is much easier to let the other position run out as far as it will go. I will continue to move SL up as profits increase. The key is once you hit your target pips, move your sl or place a trailing stop and take as much as possible without giving too many back when it turns. PT
I trade the same way, usually move stop but GJ is such damm volatile crazy pair so happens that it kick of my stop and I earn only 10 pips from 300 pips move, later on I am just afraid re-entering those trades. That is what i was confused usually. So now i will try to draw fibo from previous day and also after movement to see where it retraces.
I just need some filter coz system basically based on MA and they are not fast for price reversals. So I want find something to avoid false breakouts and gain more pips from a trade.
More Pips
I trade the same way, usually move stop but GJ is such damm volatile crazy pair so happens that it kick of my stop and I earn only 10 pips from 300 pips move, later on I am just afraid re-entering those trades. That is what i was confused usually. So now i will try to draw fibo from previous day and also after movement to see where it retraces. I just need some filter coz system basically based on MA and they are not fast for price reversals. So I want find something to avoid false breakouts and gain more pips from a trade.
One way to increase your pip count until you become comfortable with your complete system is to trade Gbp/Usd instead of Gbp/Jpy. We have already discussed why. The other way is to reduce your lot size. It works every time.
PT
One way to increase your pip count until you become comfortable with your complete system is to trade Gbp/Usd instead of Gbp/Jpy. We have already discussed why. The other way is to reduce your lot size. It works every time. PT
I use 5 pairs daily traiding
eu, gu, gj, ej, audusd
Cool
I use 5 pairs daily traiding eu, gu, gj, ej, audusd
You are a better man than me. I could not focus on 5 pairs, but if you have it working I can see how you could make more pips.
PT
You are a better man than me. I could not focus on 5 pairs, but if you have it working I can see how you could make more pips. PT
I am still trying to understand Fibo's