I’m Chase. New to the forums, just starting to go through the pips school. Thought I would share my first major trade with you (practice account! Not using real money until I have a lot of practice).
I’m using the Macfibo system for this, posted by sufiansaid. I entered this trade NZD/USD short at .8239 when there was a double crossover on my moving averages (5,8,20). I set my stop just above at .8310. I’m using the fib level at 161% to set my TP at .8080. It will be 159 pips if it triggers and it’s still falling! Looks like there could be another 50-70 pips for the taking if you jump in fast!
How’s your Macfibo trades so far? (if you still use it). Regarding on your first trade, I am not sure if you pull the fibs correctly. I could be wrong though because your chart is not clear.
