PowerTrading/The River - page 36
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Today
You can see how far this thing ran after I got out. Shows you can never get them all.
The Trade
Now this is a River Trade the right way. With my Zone Breakout you can avoid false signals. On this trade it was almost a typical River entry but using the breakout of the zone it becomes more powerful. The reason this is a better move now is when we broke the zone we broke support based on where price ranged back into yesterday. If I had played this better I would have continued to move the SL up and I would have taken more pips. You can see how PowerTrading the River is much more effective than the old way.
PT
How did you get your swing High and low
Hello PT,
Am gradually turning into a better trader just by following through the trades you took.
From the last screen shot of GPBUSD you display on the thread showing precisely how you broke out from the zone using fibonacci. my question goes thus:
How did you determine the swing high and swing low?
Thanks for your contribution
Hello
Hey, Powertrader!!!
Glad you are back!!! Great thread, you have my 5 stars. I used to follow it a while ago then the Powertrader disappeared. I have an idea, which is a hybrid of the River and the way Bobocus trades with fibs--both great methods. I just saw Bobucus thread a few days ago on FF. Anyways, I will do some forward testing this coming week, and if it has potential, I will post here or in a seperate thread--whichever u prefer. I have not done sufficient backtests either, so for now it is just a rough idea.
Thanks for sharing!!!!
Regards,
mpower
there is no Bobucus or Bobocus on ff to find....??.......
There u go. This is the link to the thread:
Fibonacci Trading
Sorry, the username is BOBOKUS, mispelled it...
Now this is a River Trade the right way. With my Zone Breakout you can avoid false signals. On this trade it was almost a typical River entry but using the breakout of the zone it becomes more powerful. The reason this is a better move now is when we broke the zone we broke support based on where price ranged back into yesterday. If I had played this better I would have continued to move the SL up and I would have taken more pips. You can see how PowerTrading the River is much more effective than the old way. PT
hi there..... PT. thanks for the new template.... can you explain. the zone break out..... and do you use any indicator to determine the zone.... thanks....
Hi Pt
Thanks for sharing and updating your winning formula. you have my thump-up. now regarding your new strategy of trading with the river, i would like you to educate us on how you trade the zone. i know you make use of fibo, but we would like to learn from the expert.
thanks
Current
Here is the current chart. I took a short as we broke the zone and am up about 60 pips. I will be moving stop up before the news at 8:30 to protect my profit.
PT
Trade
My trade got stopped at 40 pips profit with movement before the news came out. I am looking now to enter again if we get a clear bounce off the 38.2. Keep in mind I will have a very tight stop just above that 38.2 fib. If we go through I will probably wait until tonight to place another trade. 40 pips in the bank is not bad but I think we could have banked 80+ if we had taken all that was available.
PT