Mastering False breaks, trendline and fibonacci projections
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Thread: Mastering False breaks, trendline and fibonacci projections

  1. #1
    Dear all,

    I am starting this thread because I believe can give you some additional assurance to make that trade.
    I am using trendlines (Not the horizontal ones cause they will not work anyhow ) and fibonacci.
    I am using fibonacci to calculate the first goal and occasionally for greater entries. Sometime the goal is simply 20 pips from the break but my purpose is to opt for the big pips this time.
    By big, I mean 100 pips around 400 each trade. This all depends on what you would like.
    So how can this work with risking as small as it can be and still gaining 100's of pips?
    I place the Fibonacci on the longest candle for calculating my goal. Does it work? The answer is yes. Does it work? The answer is NO!
    You see, every system and tradesetup will fail once in a while. But when we do it right, we keep our eyes open, we all collectively produce the change within our tradingstyle and become profitable.
    It will not be easy but once you take the time for it you will be quite happy.
    I don't need lagging indiors like stochastics and MACD and whatever they have, it provides you more confusion. Keep it simple and make that trade.
    The only indior is the Fibonacci. That is it.
    Ohw and news? Yes I trade during news to.
    More to follow tomorrow with sample charts.

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  6. #6
    Quote Originally Posted by ;
    Serious Question, Seriously! Forgive me, I do not mean to be an Ass or to disrespect this particular thread. Because I've spent countless of hours about those topics, the name grabbed my attention. My post is coming out of good intentions. So this is my question? What's the difference between those lines you drew (along with other traders draw) versus those lines below? image image
    I will take a stab at this and say the gap in the lines onto the image, vs the lines onto anyones chart is that everybody is their own Picasso. Lines on a chart are only art work. Subjective into the eye of the beholder. They are a filter as any indior you can use to a chart.


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    GBPAUD I anticipate this to come down and test the green zones.

  9. #9
    GBPJPY let us see what happens .

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    Looking at GBP entire, it might become the weakest currency weekly.


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