Fibonacci line tool - page 6

[forexman77]

khorosh:
And what is a correction breakdown?

khorosh:
On all 3 charts I see a down trend correction, but I don't see an up trend.

Or rather the price touching the correction level.

Well, if we take approximately the same number of bars on each chart, it's not so obvious (I assume in advance how it will be if we use software).

ButIzzatilla Ikramov is right that the precise determination of the number of bars for searching of areas is a little rigid method, not very plastic.

[khorosh]

forexman77:

Or rather the price touching the correction level.

Well, if you take roughly the same number of bars on each chart, it's not that obvious (I assume in advance how it would be if you programmed it in)

Can you show what you mean by correction level?

[forexman77]

khorosh:
Can you show me in a picture what you mean by correction level?

[khorosh]

forexman77:

Well, firstly, we cannot know the exact depth of the correction and the level at which we should place the order, and secondly, we might make a mistake, maybe it is not a correction anymore, but a reversal and the start of a new trend. That is why I think it is more preferable to enter on the breakdown of the maximum of the previous impulse wave.

[forexman77]

khorosh:
Well, firstly, we cannot know the exact depth of correction and at what level to place the order. Secondly, we may be mistaken, maybe it is not correction but a reversal and start of a new trend.

Well, that's my point exactly. I didn't find anything in this area. It often happens in tests like this: clearly the trend is up, we enter on correction, and then it turns out that there was a break in the trend in the opposite direction.

khorosh:
That is why I think it is more preferable to enter on the breakdown of the maximum of the previous impulse wave.

I will probably try it in this area when I have the time.

[Izzatilla Ikramov]

khorosh:
Well, firstly, we cannot know the exact depth of the correction and the level at which we should place the order, and secondly, we might make a mistake, maybe it is not a correction anymore, but a reversal and the start of a new trend. That is why I think it is better to enter the market on the breakdown of the maximum of the previous impulse wave.

But in this case your stop loss will be equal totake profit, I guess.

[khorosh]

Izzatilla Ikramov:
But you will have a stop loss equal toa take profit, I suppose.

The SL is smaller. I put it at the level of the nearest fractal.

[Izzatilla Ikramov]

khorosh:
SL is smaller. I put it at the level of the nearest fractal.

Interesting approach, I haven't looked at fractals together with Fibonacci lines yet

I trade using the methodology described here https://www.mql5.com/ru/forum/71541 + taking into account the mood of the crowd + trends.

[Izzatilla Ikramov]

Denis Soimu:
That's YOU talking about nothing. Show your trades with higher ratios.

Using Fibonacci lines or Eliot waves gives you a real opportunity to maintain a profit to risk ratio of 6 to 1 and even up to 8 to 1.

[[Deleted]]

Izzatilla Ikramov:
The use of Fibonacci lines or Eliot waves provides a real opportunity to maintain a profit to risk ratio of 6 to 1 and even up to 8 to 1.

No argument there. I was talking about the minimum that is available. Besides, for example at 38.2 - I personally can make 10-15 trades in a day on the rebound with that minimum ratio I was talking about.