Hello there, what is your zigzag settings?
and what is the best time frame 1 or 5 minute?
Personally I stick to the original rules of Blizard using a 3ZZ on 4 time frames - M5 M15 H1 & H4
I donât clutter up the chart with any other indicators
I trade one pair EURUSD
Thank you madmkivâŚWhen you use 5 minute you check 1 hour or 15 minutes?
I look at all 4 time frames.
This is the M5 EURUSD chart and the yellow line that I drew in manually is the line you would see on the H1 chart. I think if there is a break out up it will occur in the blue eclipse I have drawn.
We should get another blue dot forming on the M5 and then as soon as another red appears we then we join up the blues and enter the trade if it breaks that blue line. Itâs a lot of waitingâŚ
Or there will be another break down of the horizontal red dot but I will wait for another blue dot to appear to lock the red dot in place before I trade down.
Letâs see what happens - it could all go terribly wrong LOL
Interesting: Although there was a break up through the blue line on H1 there was no close above this line (shown in yellow on M5) Therefore I would not open a buy⌠yet
Well it was a long wait for just 13 pips!
After not getting a break up there was a break down past the horizontal red dot line around 1.2406
I opened 2 lots, one with TP at 161.8 Fib and the other TP at 223.6 Fib. Hit the first TP no problem then moved my SL on the 2nd lot to break even but which subsequently got stopped out.
System still works for me though 
Minibar 3 is still acceptable.At least it gives more trade signal. Though at the same time, it also cause fakes signal. The original signal is more accurate than the BB+ZZ strategy but the former is too restricted with little trade to enter per day, no?
I guess itâs all subjective. Too many signals and you are likely to get mistakes, too few and you make no money. Itâs a hard game is forex. Look at this trade which I got stopped out on my 2nd lot earlier, it went on to hit target, so annoying. But if we could all get it right we would all be rich and not visiting these forums!
When you get lower lows, draw a horizontal line at the lower confirmed red dot, the entries are much better.
thanks
Finally a turn in the aud/usd. I waited and waited and it paid off.
I like this Blizardâs strategy simple and naked. I set a conservative target below the 1.618 because it was a large target. Iâm glad I did.
GJ
Last night I entered a trade on EURUSD M5, woke up to both targets hit. I am again impressed by this system. Note how the H1 blue line (on H1 time frame) has been broken as well for a buy.
A beautiful example of an H1 break out up on the EURUSD
The target of 161.8 is over 150 pips away! But you never know it might actually make it there one day! On the higher time frames obviously everything is slower and larger.
Notice how the fibs are performing perfectly with the support and resistance all from the last 2 confirmed ZZ3 dots.
Madmkiv,
I like your set up on the eur/usd.
Thanks for posting the charts!
GJ
Getting ready to bail out with negative pips if there is a break out down on M5 EURUSD. I opened the buy order on M15 previously shown above
I will open a sell order if this happensâŚ
Hopefully the price will continue up a bit. I have set conservative TP of 61.8 (1.2433) fibo on H1 chart (shown above)
My long never triggered, but my short on the eur/usd just triggered on a 5 minute set up. We will see.
GJ
Hi Greg Jones, could you post a chart please of your setup? The red dot on my ZZ3 is not confirmed yet so I personally wouldnât trade it yetâŚ
