fib. expansion and retrace in forex

I stand corrected.

 

Hi Shopster,

I would have taken the long in the box, am I reading the signal correctly?

 

T,

you are counter trend trading

the trend is down
lower highs and lower lows

your best trade is to the left side of the chart, as it hits the money line.

short the high DT to the left side.

there are 2 DT shorts on the left.
now you are with the trend.

also notice price retraces back to the money line.
then pukes off of it.

this is a spike trade on the right side of the chart
we will cover that next week.....

you also need to draw the fib expansion from the DT entry and show that going forward on your pics.


s

 

Hi Shopster,

I am showing DT that I think u talk about..is that how u read the histogram?

Do you wait till the close of bar #2 to look at histogram and then place the trade?

tks

 

T,

pls draw the fib extension going south from that DT which is correct, on your chart.......

s

 

Hi S

I am a bit confused as most of ur pics show counter trend trades....can u plz put up charts for trend trades?

tks

 

i trade trend and counter.
also slingshots, which we have not covered....

concentrate on what you have marked up
the "range of the price action will be larger" on each leg, with trend.

why buck the trend for a few pips.......?

your fib. tool needs some numbers added and adjusted.

1.618 2.618 3.14 4.236 5.76

pls add them in.

you have just traded a full pull to the 4.2 exit door

s

 

current trades on the euro trash.....

s

 

massive histo bar diverge........

s

 

notice the diverge at 5.7 at the exit door.


s