Im in
EurUsd short 1.10748
EurGbp short 0.71007
AudNZd short 1.12172
You wanna FIb the last months high to the most current lowest low, so in this case would be last months high to last months low, but if the current month had a lower low than last month, we would use that low instead 
Congrats on the 170 pips! Keep up the great work, i’ll let you know If I enter the USDJPY.
Jason
[QUOTE=“jayboii478;717157”] You wanna FIb the last months high to the most current lowest low, so in this case would be last months high to last months low, but if the current month had a lower low than last month, we would use that low instead Congrats on the 170 pips! Keep up the great work, i’ll let you know If I enter the USDJPY. Jason[/QUOTE]
Thanks Jay.
Will plot those and see what i gather.
Ok Snipes. Seems as if you use them slightly different from me and you would probably get in the trade earlier than I do. We’ll see how both works.
David.
[QUOTE=“jayboii478;717157”] You wanna FIb the last months high to the most current lowest low, so in this case would be last months high to last months low, but if the current month had a lower low than last month, we would use that low instead Congrats on the 170 pips! Keep up the great work, i’ll let you know If I enter the USDJPY. Jason[/QUOTE]
So if we take
EURGBP then I’m short as the cross was for short. So my Fib is 9 July high to 17 July low?
Hi Jason,
Conservative works for me…so waiting for both to cross is what works best for me. I’ll keep watching my pairs for now. Some confirmatory crosses will surely happen over the next 24hrs. Thanks.
David
[QUOTE=“chiniebwoy;717163”]Ok Snipes. Seems as if you use them slightly different from me and you would probably get in the trade earlier than I do. We’ll see how both works. David.[/QUOTE]
Yes I do Chinie. The base strategy is top and we had some success. The idea now is to refine the signals to cancel the false signals as one can really get big pips once the trend goes off. Both has their merits and i have the 2 and 8 on another account and chart too. With Jay’s Fib, S&R as well as 200 Ema is getting us there.
Feel free to share any ideas, as personal preference helps over the emotions as well
Yes that looks good man! Well done!
Doing good so far, we got this in no time!
[QUOTE=“Snipes;717156”]Im in EurUsd short 1.10748 EurGbp short 0.71007 AudNZd short 1.12172[/QUOTE]
EurGbp short @ 0.71007 (currently +2, SL -50)
EurUsd short @ 1.10748 (currently +17, locked in 7)
AudNzd short @ 1.12172 (currently +55, locked in 31)
NzdJpy long @ 82.097 (currently -1)
GpbNzd short @ 2.36162 (currently +1)
GbpAud short @ 2.11138. (Currently -48, SL -80)
+38 locked in
+26 running total
All of them based on double cross. The EurGbP is a gamble as the LWMA’s are hugging tightly:(. Got in late. Lesson learnt and notes updated.
[QUOTE=“chiniebwoy;717166”]Hi Jason, Conservative works for me…so waiting for both to cross is what works best for me. I’ll keep watching my pairs for now. Some confirmatory crosses will surely happen over the next 24hrs. Thanks. David [/QUOTE]
Conservative is best in the long run.
Trail stops (risky trades)
EURUSD closed +7
NZDJPY closed -41
GBPNZD closed -83
GBPAUD closed -80
AUDNZD locked in +44 pips, still running
EURGBP locked in +20 pips, still running
Total for today -133 considering locked in pips.
Yes becareful if the MA are hugging tightly and they cross I’d stay away. You want a gap between them than a cross for a strong signal. For the couple that are losing now, they will probably turn around into profit! Let’s see!
Looking at
EURAUD LONG at 50% fib
USDSGD LONG at 23.6 fib if can hold for support
EURCAD LONG 38.2 FIb on its way to the 50% it looks like which would be nice, unless 38 level holds as support.
AUDNZD LONG 38.2 FIb looks like is holding as support.
All are above the 200 EMA too
AUDNZD is in a range but it is hitting the middle of the bolliger band for its retracement for go indication it will probably hit its last high. But lets see!
Happy trading
Jason
So Jay, had a long day learning about Fib and it makes a whole lot of sense now after someone took the time and broke it down for me.
Will see how best I get it incorporated but seemingly your view of SL and TP for it is spot on I just never got it figured out properly. But that’s why we have this journal :).
All trades closed for the day
EURGBP +44
EURUSD +7
AUDNZD +44
NZDJPY -41
GBPNZD -83
GBPAUD -80
Total -109
Will go over charts again when I get home and have these on the radar too.
Sounds good to me, Glad to hear you’re doing good with FIB now too! Like you said this is why we have this journal to learn all we can!
Happy trading
Jason
Hi Snipes,
I notice that you don’t trade with the 200sma as your guide. Any reason for that? Is it that you are comfortable with trading the retracements of the pairs, especially if there’s an obvious S/R zone approaching?
David
Hi fellas,
Been looking for my first strategy to backtest and this looks like it. I’ll be jumping in and helping starting tomorrow morning!
Thanks for all of your hard work, and of course to FP for his creating the method.
[QUOTE=“chiniebwoy;717360”]Hi Snipes, I notice that you don’t trade with the 200sma as your guide. Any reason for that? Is it that you are comfortable with trading the retracements of the pairs, especially if there’s an obvious S/R zone approaching? David [/QUOTE]
Hi Chinie
Thats correct. There is some good moves opposite to the 200 especially when we get to the obvious SR as u say.