Thanks for the reply. On my chart, I have the ZZ_Swing and Psar indicators. Is that right? Do I need bolinger bands on there too? What do you use to determine the TP? Are you saying that the SL needs to be placed around those extension levels?
Hi Blizard, when it pullback to 61-76%, what criteria to enter the trade?
Are you putting on a pending order after u draw the Fib? If yes, where is your pending order? at 61.8 or 76.4?
And is your SL remain at the last confirm opposite dots?
Thank you very much
I think if u trade on the 5m using ur new strategy has higher risk than on 1h due to the spreads in play.
It would be good strategy on 1h and above.
Just my 2 cent opinion.
You are right, the higher the timeframes the less risk involved and the more profit you can get per trade.
It just depends on if you prefer to trade the 5min or 1 hour charts. This strategy will work on the 15min, 30min and i woul be willing to bet on te 4 hour, daily, weekly and monthly charts 
It does work nicely on the 5min and 1 hour, i just dont have any patience for anything above 1 hour charts
Blizard what % of risk do you use per trade?
Thanks
So nobody using BBands anymore? [B]Sandybeach and blizard[/B], are you still using it?
I think with the thread zooming in few pages in a short period of time, I might have miss the post regarding Non Lag MA. How does the system of BB+ZZ+ non lag MA works?
Mind to explain step by step? Thanks in advance
Three winners in a row using the fib 61% to 76% entry and the 1.618 target. Stops are set just below zero percent fib.
Here is the last winner.
Thanks again Blizard for all the help and patience with my questions.
GJ
PS I have left the Donchian Channel on my chart. I don’t use it much any more, except it does help me see pull backs better.
I agree, look at this beauty on M5 EU this morning, perfect break of the ZZ3 trendline for 20 pips (closing out at exactly 161.8 from a previous ZZ3 Fib dot setup) then support again with no bar closing below 61.8 if you wanted to re-enter again… Fib was attached to ZZ3 dots, mebz we need to incorporate this auto fibo into the ea?
Hi Sandy, I usually risk a max of 3-5% per trade. I no longer use the bands. I do plot the fib levels connect the last 2 confirmed dots or obvious larger support and resistance levels. You can definitely set limit orders at the 61% on 1 hour charts ahead of time. Here is a nice setup on the 5 minute chart at the end of the ASIAN secession. The price went all the way to the 261% extension for 45+ pips. I drew the fibs upside down so you can see the extension , the 38-23% is the same as 61-76% upside down. I like to draw them this way so I can see the pullbacks and extensions together.
thanks
Here is a larger fib by connecting the daily high and low. A nice bounce off of the pivot never hurts!
Blizard,
Nice setup on the eur/usd. I’m going to keep my target a little conservative at 1.2570 which is within the recent high.
GJ
Can someone please explain the entry and exit criteria for the fib strategy? There seems to be a few different strategies discussed in this thread so I’m a bit lost.
For the fibs strategy… are you using the dots and zig zag indy only along with fibs? Where do you place your SL? I understand that TP is 161 or 261.
How do you determine the trend in order to decide which direction to draw the fibs for pullbacks?
Barron,
I’m still new to this method and it is a work in progress for me, but take a look at my last posting #632. Ask questions of me about that set up and I will try to help. Perhaps if you look at that particular trade it might help.
GJ
Target Hit! 161.8 Nice swift 41 pips thank you
madmkiv,
Nice read on the eur/usd. I missed it.
GJ