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Rules
Job finished
Specification
HTF
The newest fractal created to left determines bias. In this example at
the time of candle we are looking at the newest fractal made was a
fractal high so we are only looking for sells pic 1
Lets assume pic 2 is the opening of the trading session. Price is going
up, there is no fresh low breached so there cannot be a fib made yet
Pic 3 we have a minimum and max candle range to look for fresh low to be
breached. also if more than one low is breached we use the lowest low
breached to frame the trade and use highest high to frame the trade if
we were looking for buys
Pic 4 here we see the low has been breached. When the candle closes a
fib will be placed on the lowest close of candle after the low has been
breached.
The other side of fib is at the high of the body of the candle where the
move down started. Note the candle does not need to close below the low
once breached but the fib will be place at the lowest body of the
candle.
pic 5 you see fib placement. Once candle is closed a pending sell limit
order is made in accordance fib levels chosen to use in settings
pic 6 if price continues to go lower and there is a lower body candle
close then the pending order will be cancelled and fib will use the
lower body close and fib will be rearranged for entry sl and tp
pic 7 shows how trade would of panned out
Pic 8 if there was no entry on the 1st trade or settings allowed 2
entries after new low is broken we now use this low and have a new start
of the move
Pic 9 price continues to go down and breaks another low so this is the
new low we use. We have a lower body of candle close but the move down
started from the same place.
pic 10 trade taken
