Technical analysis - A scam for beginners? - page 33
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By the way, you have to open two trades at the same time there!
I just need an advisor to trade for me. I'm just a medical student. I don't have time to sit at my computer all day and night.
You can post, that's what the forum is for.
In short, I will try to describe it more clearly in parts, ask what I do not understand a certain part:
There is a breakdown (Closing at the level) and then there are three options.
Variant 1: Reaching the maximum level of 200.0 and getting a profit.
variant 2 - achievement of 161.8 level and getting the average profit.
For the purpose of systematic profit taking the variants may be different.
i.e. we go from the opening to the opening with two orders
the first one is aimed at 200.
the second one aims at 161.8.
the first one will close at 161.8.
at this point, we move the second one to the open position.
In this place we move the second order to the B/S. If the second order is just to the B/S, the market will close again.
The third option is the shittiest!
we opened up and it went backwards.
We don't panic here.
We have a stop after the maximum minimum. it is set at the maximum price - the minimum candlestick shadow + 5 pips + spread.
Further.
we measure pullback according to the Fibo. i.e. we stretch the Fibo by the movement that started it.
If the pull-off is 50.0 points from the movement then this is obviously a bad situation on the market.
the main thing is not to panic.
the price will return to the opening level.
we should move our stop during the move back to the open position and we may see another bounce and take profits.
or we just close the trade to b/o.
The price can reach 100 per cent during a pullback, but a stop outside the level will not be triggered.
You can open a third order at the level of 50.0 minimum or more if you want more profit.
I will now write down the rules that form the basis of this theory:
1. You need two candles in the same direction to make a trend line.
2. Breakout - closing behind the trend line or breaking the sequence of candles.
So if it's an uptrend, all the candlesticks have consecutively increasing lows.
If it's a low-trend, all the candles have consequently lowered maximums.
If this condition is violated, look for a chart where this condition is fulfilled.
That is, we may not see it on M30, but everything is equal on H1. Therefore, we work with H1, and the chelines are calculated on M5.
3. Calculation of targets by candlestick bodies.
4. If it does not reach 76.4, it is not a signal.
5. If it reached 161.8, it should be moved to the position.
6. If it went away on 50.0 and more before stop taking, it will be moved to b/y.
7. If it has reached the start of the move, the signal is cancelled.
Now a few words about false breakdowns or wave B:
Wave B consists of a pullback to 61.8 after reaching the 61.8 level a pullback to 50.0 is a stopper wave B.
How to calculate entry from it.
It is necessary to measure the sidestep which is at 50.0 and more, and look what has not been a breakdown backwards. Measurements are at M5 on the bodies.
It is also necessary to set goals on the chart as in case of a normal breakdown, but from the 61.8 level.
Then the technique of placing orders is the same as for a regular breakdown.
Now about the breakback.
trend. pullback at 61.8. breakout of the lower boundary on m5 and measurement of targets by candlestick shadows.
Stop should be set behind the level of 61.8 (it may be higher than 76.4 and 100.0 if there was no breakdown).
it is important to take into account that by shadows and add Spread + 5 pips.
How's that?
For questions about writing EA, please contact ICQ 605235061