What I don't understand is what do you base the fib expansion off of (the pull back?)? And which fib do you target?
" What I don't understand is what do you base the fib expansion off of (the pull back?)? And which fib do you target.....? " All, nice to see someone had decoded my work........ and the answer is correct. as to "why do i base my fib expansion off the retrace.........." because it works....... the rest of the retail crowd is busy doing the standard fib. crap where to enter ..........you decide. the risk is quite small......... as to where to exit........... take some off all the way up starting at the 1.6 fib. as we get to the 4.2 , crank up your stop the final exit door is the 5.7 then put your feet up and wait for the next one to drop into your lap. keep an eyeball on the trend as the trade expands out........ do nothing but this setup for 2 decades and report back in. support and resistance with a diverge indicator to seal the deal. damn, here comes another one.......... notice the "massive diverge" on the second leg of the DT cheers, s
two different ways of looking at this setup. a DT shop, a trade within a trade. 240 ticks, whichever way you look at it....... the strategy deepens. s
Hi Could you please explain "MACD shows divergence on the retracement." In an uptrend, if we get a pullback and a new move up to the .86 retrace of the pullback, should MACD be making a new high? tks
All, this is "what the market does........." each and every single day across all pairs........... after the news is out and the suits and talking heads have postured ....... we now get down to the business of simple support and resistance, with diverge. the market will continue to do this setup, over and over, each day going forward, until further notice..... i will post that notice when this setup " no longer works......" don't hold your breath ........ shop
just for the hell of it.......... a DT on the dow for the equity crowd. you are flat longs as it rolls over. the diverge indi. is not shown you can bet your butt, it is present..... 1300 point puke. s
"Otherwise, his method is a sound one..............." Best Wishes, Thales glad to see you get it........ you buy or sell on the second leg, with diverge. trading has to be simple , because the market is simple. up, down or sideways. pick one , get paid or not...... for those who don't get it , basic forex 101 is posted elsewhere on the web. s
I got it a long time ago. That is why it was easy for me to understand what it is you are showing here. For those who have yet to get it, however, it is not so easy to follow you. So, while forex 101 is available elsewhere, you might want to include a bit of fibonacci 201 here to help your readers along, unless your motive is other than to provide help, e.g. to sell range bar or zero lag MACD indicators for MT4. I'm not saying that that is your motive, I'm just saying that if you genuinely mean to help folks, then you are falling short of what providing all of the information that such help requires. Best Wishes, Thales
i don't expect everyone to get it...... a good selection of the trading masses to take the opposite side is required. fresh meat . nothing is for sale, i don't do retail. my thread, i will run it accordingly....... s