Interesting how you draw Macfibo fibonacci on re-entries, I mean you pull the fibonacci of Pt A and Pt B on 5x8 base. I know I didn’t include this in the PDF but I normally keep the ‘original’ fibonacci pullups as long as there is no fresh Macfibo activations and when there is a re-entry signal, I tp according to the levels. :48:
Macfibo Sell h1 just hit 161.8 and hit H4’s 261.8 Macfibo (re-entry). Harmonic Macfibo trade on EU. :50:
Out of curiosity, in what timeframe and date range have you backtested this? And which specific JPY pairs?
anyway…it does work brilliantly on major currencies…many thnx bro…
Sufiansaid I have read your pdf and was wondering if there are other fib ext after the 3.618 because I used the macfibo system yesterday on the Nzd/Usd 1 hr and price flew past that level and kept on going.
Normally, if it flew past 361.8, there is an active Macfibo on H4. There are times when price went past 361.8 and test 423.6… sometimes more. There are things we can’t really explain technically how price continues beyond the target or fails to hit the target. Just to answer your question, I sometime add 523.6 level as well but I check H4 timeframe as well so I just use the H4 Macfibo levels instead. Thanks
Not a problem buddy, keep posting your trade results, backtest results… etc etc
D1 Macfibo activation for a sell. Yes, for D1 I do not enter as soon as it activates… D1 Macfibo provides me potential moves for the next few days/weeks. I am obviously bearish bias for EURUSD due to this, but anything bullish in H1 and H4 will not be ignored. All I am saying any bearish activation on H1 and H4 will be taken with more confidence than bullish ones. Mechanical trading baby!
D1 states EURUSD has probable bearish intentions in coming days, H4 just completed a strong sell Macfibo hitting 261.8. Is it time for correction/retracements? At the moment, small doji was followed by bullish engulfing candle around 261.8 Macfibo zone so it could be time for retracement. If you check H1, price is testing 20sma right now so we see from there.
To see in the long term, a 361.8 H4 move is still possible if price rejected by 20sma and re-entry activation happens (perhaps later this week or early next week?). In terms of price action, I see some weakness on the bearish move right now (the reversal pattern), I will buy the H4 correction based on the H1 bullish activation.
Important note, the bearish EURUSD move continuation heavily depending on the Non-Farm Payroll.
Update: got stopped out of this one My SL was at 70.0 Fib
Heads up! for the USDs ( EURUSD, GBPUSD, AUDUSD, NZDUSD )
=> MacFibo RED has crossed upwards of BLACK on H1 ( NZDUSD already has a head-start).
Usd/Chf 1hr hit 1.618 for 8 pips:59:
There was also a failed Macfibo sell after that. The system should lost us maximum 50 pips last night. I didn’t take the selling activation as previous day’s LOW was on the way so I just stayed on the sideline.
When candles forms such as this once hit 127.2, it causes me a lot of concerns. Up to you how to manage your trades from this point. (pin bars, dojis etc)