Fib+Piv
1 demo trade and all of a sudden its easy...lol
LOL no many demo trades... i haven't been able to define 'rules', but finding historical patterns and imposing them on 'today's' trading seems to be an easy thing. I've had several successful demo trades since three days ago when i finished my indicators and EA... but since i have no "rules" just judment call based on historic results... can it be this easy? In context... can it be?
... one from a couple days ago missed by one friggin pip.
Pivots are very good for trading, very good work with your charts.
Regards
Guyver.
Yes good work, can u enlighten us a little on this system..
Yes good work, can u enlighten us a little on this system..
From what my mentors have to say... is that there are the traders who use fibs, the ones that use pivs, and the ones that use both. My idea was to create two indicators (which already exist but i didn't find pivs and fibs that use fridays+sundays range for calculation)... i digress... and come up with a [signature] of the relation between both. Often times there is a direct or very close overlap in fib and piv levels which in some cases create a strong barrier for S/R and other cases not.
The goal is to search through history and match up as close as possible the exact range and placement of pivs+fibs. Then compare the previous results to find high probabilty trades. What you are seeing in the above charts are the 10 closest matched days plotted against the future >>chart. In some cases you will see a high correlation of levels that provide the strongest S/R and more often than not I can see when to trade the breakout and when to TP...
This is all new to me, which is why I threw out the disclaimer...
Another good day for prediction. Today I found Gravity lines. A hybrid of FPI and Fibonacci... cool stuff!
+63
r u using EA for your strategy
what r the entry rules
r u using EA for your strategy
not yet, but hopefully soon. I will only share it at that time with traders who help with solid advise/input/observations.
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Is it me or is this too easy? I'm not a professional trader, but when historically you can predict with a high probablility how price action will move with S/R levels...
Pro Traders, is this a viable strategy?