Quote:
Originally Posted by daedalus
Guys, I just had to share this... so that eurjpy trade... I just closed it out for 233 PIPS!!! That is the biggest fx trade i've ever made. I'm stoked!!!
Entry was at 158.71, exit at 156.43... the rest is history!
Cheers folks!
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great job Daedalus,
Thanks again for all your insight on the fib trading. I have been trading the fibs on the 1H/15M TF and wanted to run something by you. I drilled down your 4H chart to a 1H time frame and noticed a perfect set up to go short again on that pair after your initial trade to the 23.6. After the two candle penetration of the 0 line on the lower 0 line was established (blue oval) price was telling us where it was going to go, it was most certainly going to revisit it and blast through to the 138 at least. I typically trade the shorter pullbacks because I am looking for trend continuation price to go past the 0/100 line to it's TP area of the 138 or 162 area. I like to get my entry in at the 50 or 62/38 lines and watch it go through the 0/100 line and onward to it's TP1 area. That lower blue oval on my chart was IMO a perfect short signal set up. I would get back into the short trade after price retraced back up to and came out of the 62/50/38 fib zones.