Here is a current chart I’m watching. I’m waiting for a pending long to be triggered @ 7618. The SL is very tight. Is this valid?
Again, a confirmed dot is a dot that has the opposite color dot appear ensuring it wont repaint. Your 100% level is at a green dot that has not been confirmed yet. ONLY draw the fibs using the last 2 confirmed dots.
thanks
Here is a setup that just occurred on AUD/JPY. I took a quick 5 pips to start the day. Looks like its going higher.
thanks
So my issue seems to be not knowing exactly what a “confirmed” dot is. In the pic below, is the green dot confirmed now since there is a red dot that has followed?
Yes, thats better, use the confirmed dots always to draw the fibs or trendlines. Here are my last 15 trades. The 1 losing trade is the iDraw 1.4 EA for some reason entered a trade and I quickly closed it. This is a demo account and I will be trading live once i double my account by months end or approx 100 trades. I want to get very comfortable trading the fib pull backs to 61%
thanks
Its up 20 pips now, i need to learn to stay in a few more minutes.
thanks
Good going. May sound weird but again, all I seem to look per the confirmed dots for are long setups. How do you determine which direction to trade in? Also, in the trade you took, I noticed the psar was above price indicating a short when you were in a long. How do you use it in that case for a SL?
You would use the DOT, often with fib pull backs the SAR in on the opposite side still, so the SL should be placed on the other side of the 61% or even the 76% lines (38-23% on the above chart). I suggest keeping the Sl extremely tight, even the open price of the entry candle where the Swing_zz dot is. If you get stopped out dont worry, You may get another entry chance at the 76% or even the 100%. At those levels, i would wait for a strong candle thou.But if you dont get a bounce off of the 61% for a few pips, who knows how far she may go so its better just to take trades off of the 61% and keep you SL very tight.
blizard, i spotted this text book fib retracement trade on usdchf. Excellent setup on the daily. Wat do u think? it has hit the OTE or 78.6 fib level. Wat say you?
I dont see the setup on the daily charts for USD/CHF. I have posted the chart. Are you sure its the daily time frame?
I was measuring from its immediate swing low to swing high
Hi Blizard, what do you do in this case? I mean you enter a buy stop order or wait that prices touch the level and start to reverse?
I have moved successfully to M15 now (up from M1 then M5) You have to be strict and patient and wait for dots to confirm.
Look at this text book trade following this system this morning for 92 pips! It had Blizards rebound off 76.4 as well 
Excellent trade madmkiv, thats allot of pips! Makes me think twice about scalping.
Nice work Madmkiv !
Well done 
Nigelng how are you getting along?
My trouble is I am not really that disciplined (yet)
I got bored waiting for M15 so I entered long (a bit late tbh) on M5 and took the target at my favourite 161.8 for a nice 32 pips.
This was after I posted that I would wait for M15. I think if a valid signal comes and TP is not unrealistic then I will go for it.
Dont worry Madmkiv, practice makes perfect, trust me, i need more practice too, but thats where here for, to help each other and learn.