Nice one Muneeb, congrats! BUT, did you enter the trade before the close of the 5 crossing 20 1 hour candle? Looking at my charts, all of the gains happened during that period so I missed out, according to the rules of this system. I think?
The cross came only after that long 8:00 (GMT) candle, so you’re right, there was no signal before, but it doesn’t mean that you “missed out” anything
That was I Used another strategy which ended me making a loss though… Your system seems to work great
No it entered without the signal, I saw there was an opportunity so I jumped in
hi,is it got fibo template can direct use?
SUfian can you please make a tutorial of re entering into the trade? It will help alot for those who had missed the signal
SO far I have short GBP USD for 6 Hours, although it was the valid signal but… its still in the same place as it was 6 hours ago
Sufian, can you tel me is this a valid entry here?
I went to short the EUR GBP when it crossed before but went into a loss. I am abit hesitating… But I entered into the trade none the less…
I am quite nervous
I am working on re-writing the guide. I hope it will be released early April. Just let me warn you… it’s nothing special.
I believe in either two exit styles (MA crossover or SL Hit), you would be still in a trade. Based on my experience, when you enter a trade but still feel hesitant or nervous, you shouldn’t be in the trade in the first place. I can see where the nervousness come from though, the range between Pt A and Pt B right? I decide not to include this in the guide because it is discretionary. The size of the activating candle and the range of Pt A and Pt B… visually, looks dodgy. I won’t take the trade as well (more on that in my Macfibo System Update). But do not take my word for it. It is still a valid signal, and I’ve seen it hit 127.2 and 1.618 (but slowly) before. At the moment, you perhaps between -10 to 10 pips now. All the best.
I don’t understand the question. Can you rephrase please.
MACFIBO SYSTEM UPDATE 23/3/2012
I entered one trade yesterday. The buy signal. As soon as London open, it reversed and it hit my SL. I lost 20 pips. The reversal confirmed my visual analysis that there was a Head and Shoulders. I thought the reversal would be 20-30 pips, gave me a nice bearish activating signal and will TP accordingly. But nope… the activating candle ‘filled’ up the space that I wanted to trade.
I know this isn’t included in the guide (mainly due to its subjectiveness, requires experience) but the size of that activating candle (mainly a ‘reaction’ candle by news, be it scheduled or unscheduled, disaster, political etc etc) made me want to stay on the sidelines… and good decision it was too. If you pull the fibs, price did atleast hit 127.2 and reversed. I will cover this subject more in the future (the range of PT A to PT B).
A signal came this morning during Sydney Open, but i did not take it because it was before Asian Open… so looks like I will be a spectator mainly today… a lot of market-moving news later today too so be wary of that. Happy trading everyone!
Thanks for the update, Sufian. I took the EU trade this morning, I was early today.
PA seem like hovering around the Daily Pivot, let see how it goes. Btw, for exit with EMA5 crosses SMA8, do u wait till the candle close or do u close as soon as the crosses happen?
oops…took both trades and got hit
Aside from the system, anyone see a similar London opening today as it was yesterday? The pattern appears the same. May have to see what the news is this morning.
Hi bro, guess what? Price hit 1.618 so congrats. Yes i wait candle close.
My question has been well and truly answered, hehe.
Damn, took the morning trade, but was forced to exit just a while before 5x8, getting atleast some pips for myself and now look at what’s going on there…
Hello buddy, what forced youto exit the trade?
missed that too. got in early but got out when 5EMA went below 8 SMA. missed the shot up but now in long again. hope get it right this time.