I don’t exit. We already backtested this strategy topguntrader. It was over 28 pairs or so for the last 11 years (So one global economic crisis). The biggest loss was of 1200 pips approximately. We never got wiped out over those 11 years. So for me there is no reason to fear.
Then again, if you feel uncomfortable by that you can just place your stop at low if you are long or at the high if you are short. The system is flexible.
Thank you for your generosity to share this strategy:57:,
Is Stoch settings are correct?, And why Fibonacci expansion levels far:eek:, although I was drawn from the highest point to the lowest point
Hi thanks for sharing such an promising strategy. I’ve done some ‘backtesting’ and like most trades are big winners.
Atm im on the watch for the following pairs, let me know what you think of them…
Eurnzd
Gbpusd
Audjpy
Audcad
Audnzd
Cheers
I never mentioned Fibonacci expansion. I said Fibonacci extension. Look up the difference as I explained before in the thread.
Direction and timeframe please.
As follow, they are only just crossed MA so i only have them on watch, not trading yet. Stoch has to get back.
Eurnzd = H4, sell
Gbpusd = H4, sell
Audjpy = H4, sell
Audcad = H4, sell
Audnzd = H4, sell … no cross yet, is about to cross
In my timezone GMT+1 on MT4
Hi all…has a chat room been set up ? I saw talk of it but cant find if it was or not
Thread read the second time I did not find the difference, plus that I have only Expansion
What do you think of this situation, where there is a correction higher “X” from the first correction !, Is this situation get out at the first Fibonacci level?
My Fxbook account is already posted in the thread for you to follow. Its brand new and follows only this strategy.
Use fibonacci retracement and draw the 127.2, 161.8. 2, 2.618 levels on it. That’s how you get fib extension. Read the thread it has answers.
Audcad, H4 = almost sell ready as stoch is back in OB area.
When will you take position?
SL @ 0.9741 ?
What do you think of this?
In this picture, you have a sell order in place. Why did you put this one? Or isn’t that order related to that strategy?
I apologize I just saw this. It is yet to reach overbought on my chart. You don’t have to commit to AUDCAD, keep looking at other pairs as well.
Random question.If a trader uses fibs, then if he/she has the 0 fib then it only makes sense to have the 100.00 fib correct? So with that said, if you have the 23.6 fib then why not use 76.4?
There is no 23.6 fib level btw.
No problem. I took the trade in demo @ 0.96331 selling.
What pairs do you trade in prefer? Right now i check them all…
There isn’t? I could of swore I saw on someone elses chart a 23.6 and 61.8 fib level. Now that I am looking for it I can’t find the damm chart. Yet, 23.6 is a standard on fibs.
Do I have my Fibo (Red line left high/right low) drawn right?
If yes, cool I probably understand this strategy 
If no, what did I do wrong?
Thanks in advance
I know but we only use extensions for this strategy.
You did it perfectly 
you can also look to watch videos on Youtube just so you can feel comfortable.
Yes there is on hip chat you should be able to find it somewhere on this thread.
