Hi Sufian,
After entering the trade, it could TP at 1.27, 1.62 or 2.62. If there’s no SR Line on the way, should we leave our TP value empty and decide on 1.27 or 2.62 at a later time?
Assuming that you would babysit the trade, I’d say up to you though I don’t really recommend it… but do exit when exit signal triggers. Honestly, I do that from time to time (not putting TP or SL as soon as I enter a trade) but only when I decide to just stay on my charts for hours (babysitting the trade) and relied on my ‘other method’ of exit, candlesticks analysis (which I am not ready to share due to it’s advance nature) to determine when to close my losing/winning trade (for eg, if I notice say doji candle once it hits 161.8, I’d move my SL to 127.2 just incase).
Thanks for the response! I figured it was one that had already been answered, but looking through ~119 pgs of forum seemed like a daunting task. It looks like a great system and I hope to one day be able to understand the intricacies of trading as you do.
Valid BUY Macfibo entry just now … watching, and forward testing!
UPDATE:
Ops, looks very much like what happened yesterday - fakeout on the buy =(
UPDATE 2:
… and another fakeout on the sell?
Just took that one myself.
Could the EA be programmed to recognoised a Doji candle and be built in to handle that? Maybe avoid entering a trade if that condition appears ?
About London and Asian time.
What about a trade that start at 16 (London time) and at 19:00 (London Time) has a signal to close the trade? Should we ignore it or close of a trade should be done disregarding the time?
Furthermore I have another question. I live in Italy where we have one hour difference with London…but many times reading on some system it seem there are two hour difference. Is it maybe because of Save time?
Thats an interesting question. You should definitely ask that in the MACFIBO EA thread! (sorry, the forum doesnt let me include the link but you can find it here without problems)
Trade signal that triggered even at the last hour of London Open can be taken (yes, you need to take not of Daylight Time Saving too) except on Fridays.
Sandybeach, you do not need programming or a robot to tell you what are dojis, hammer, harami etc. Try learn it yourself, there are plenty of free resource out there. It needs years of practice though to objectively determine (when I said objectively, without us guessing) whether the current doji is a reversal or a fake doji (yes, price action and candlesticks gives fake signals too… not just indicators…). Even after 5 years, I am still learning Forex and I am still learning candlestick reversal patterns. Besides, you need a very very very very good indicator/EA to accurately determine what reversal candles has occurred in the charts (the free ones anyway)
My best advice I could give you is, keep it simple for now, study ONE candlestick reversal signal at a time, you learn MORE if you STUDY the charts instead or relying some robot to tell you that candle is doji or bearish engulfing candle etc etc…
Do not worry about the fakeouts buddy…
I just realised how the forum’s search function sucks big time. I was hoping the search results will show specific posts rather than just the main thread link… I see what I can do to give you the link buddy… I am working on FAQ at the moment… very slow and painful process hehehe…
Here’s the link to the MACFIBO EA thread.
http://forums.babypips.com/expert-advisors-automated-trading/44489-macfibo-ea.html
Sufian, I think you used the main search instead of [I]search thread[/I].
[B]RKStelma[/B] I believe this is the post (#1062) that sufian is referring to about trading news candle 301 Moved Permanently
If you’re talking about EURUSD, then the matter is the ranging Friday, I would say, if you take a look at the whole picture:
I’ve marked two green lines acting as support and resistance (resistance more like a zone though) for the day, you can see that the closed candles were ranging strictly between them and the difference is only 29 pips (!), while the max range (between lowest low and highest high) is 53, not that great either…
The volumes were quite average on this day, although the highest volume was 1,5 times less than on Wednesday, but generally we know that activity on the market decreases towards Friday.
Basically, I didn’t take any Macfibo trades on this day, after I’ve seen the support and resistance holding first few times and noticing that the price was ranging and my day ended up scalping some pips using VSA.
However, I’m not promoting to use this stuff (especially to new traders in this thread) along with Macfibo, Macfibo is Macfibo and VSA is VSA, but just providing my reflections about Friday and why it could have led to fakeouts with Macfibo.
Oh i completely agree with you, it was just a suggestion as a way maybe to help reduce fakeouts 
Hello Sufian
I have been reading through this thread from the beginning and love the work done and the great responses and feedback you have received. Earlier in the thread you stated that you don’t know if you are a good teacher. IMO A good teacher is someone who creates an atmosphere where individuals are inspired to learn on there own and participate fully in the learning experience and you have more than exceeded this definition, so job well done and congrats on winning the competition last month! 
I am looking at possibly taking this trade on the USD/CAD if the close of the next candle signals a cross, but am not sure which of the candles (out of the two highlighted areas) should be labeled point B. Could you provide your input? Thanks again for providing this system for newbies like me!
RK,
I think it would be the bottom circle you have marked but only about 90% sure. I was watching this as well, but looks like it didn’t hit the trigger mark of crossing both 5 and 8 moving avg marks. Perhaps another hr. ?
Yea I’m glad that it didn’t because I was at dinner with my gf and her family for mother’s day and it would have been a missed opportunity. Thanks for the response though! I think you’re right, but I just wanted to double check for clarification.
Thank you for the kind words buddy, but I also believe a good teacher should have this ability to speak… which i dont think I am uncapable of… but again, thanks for the kind words and I hope this thread helps a lot of new/old traders.
The Point B, I’d put it the lowest circle.