so this is a setup which touched the 23% fibo @1.6644, stoploss @ 1.6525, target , target 1.6850
What's that program which paint the bullish and bearish patterns like that?
i had a similar questions too...i think i just figured it out...goto insert then shapes then triangle then plot your three points of your triangle...
kamyar, what do you use for entry at D point?
at the probable retracements as per the rules?
i am very interested in your postings. i agree that rsi is good for showing when the retracement is over.
i downloaded your T3 and copied it into experts, but nothing happen. i think i am using the last build, so i don't know what is wrong with me.
maybe you have more detailed description of your method, or you can explain to me a little more about how you use it?
i would greatly appreciate any help.
u will c I'm painting the CD Fibo level to guide me for the entry/exit
enter trade at the 23.6% fibo, stoploss at the 0% fibo, target profit at the 61.8% fibo, move stop to break even when reaching 50% fibo.
so every trade has a 2:1 reward/risk ratio
I'll give you a hint, for longer timeframes such as hourly, use an indicator like MACD then check for divergence. Enter only at fiblevels and with luck the entry should be confirmed by a reversal bar, such as a doji, or hammer.
Most setups on the hourly charts will have divergence.
Could you please post a chart showing this technique
here are two probable Buy/sell opuurtunity
the 1st one
2nd one is here
Ziko here is an example of divergencd and fiblevels on the usdjpy.
To keep the charts clear I only have the levels on the 2nd step.
In real time I would be plotting clusters at each step, 1,2,3.
But if a gartley, or butterfly jumped in I would be looking to change direction, especially with divergence.
I hope these help