Just got this fibonacci indicator from an indian forum, need to share for more intense scrutiny from other traders.

aguiyi:
u sef na black man, so all join

Lol! may GOD help all of us. We Nigerians especially find it hard to appreciate each other but we will rather want to pull each other down and criticize baselessly.

If it is one white man now like fuller that collects over 300usd from you to join a room that you are not certain about, we will rush to pay. I have had subscriptions for online practical training from mostly outsiders but a Nigerian trader will rather prefer to lose 10k foolishly to brokers than rather use 200usd to get quality fx education. In-fact most of us have ego problems

This my friend ncpat have been sending signals and i have been observing how traders here have been responding to his calls. Now i have a place where we can monitor the activities for the test period so that we can improve this system together but i have never received one recommendation from any Nigerian where as several foreign observers have made tons of recommendation with not even one sarcastic comments.

naijababe: check the daily and you'll reconsider your long. na shorting opps. me I dey. find

Thanks for your observation. looking bullish in daily and weekly. i think it's just pulling back to 95.04 support.
that's where i''ll be going long. let's just see how it plays out. i might be wrong. just following my system

Toks2008:

Lol! may GOD help all of us. We Nigerians especially find it hard to appreciate each other but we will rather want to pull each other down and criticize baselessly.

If it is one white man now like fuller that collects over 300usd from you to join a room that you are not certain about, we will rush to pay. I have had subscriptions for online practical training from mostly outsiders but a Nigerian trader will rather prefer to lose 10k foolishly to brokers than rather use 200usd to get quality fx education. In-fact most of us have ego problems

This my friend ncpat have been sending signals and i have been observing how traders here have been responding to his calls. Now i have a place where we can monitor the activities for the test period so that we can improve this system together but i have never received one recommendation from any Nigerian where as several foreign observers have made tons of recommendation with not even one sarcastic comments.

bro sarcasm is good for the bones, it makes them thicker

unclenna: chairman, my own fxpro is it different from yours....or are they hiding the pairs from me.

sir, this is for you. see chart below. just to show you that fxpro has the pairs.

lari03: Just got this fibonacci indicator from an indian forum, need to share for more intense scrutiny from other traders.

There is one secret in using fibos.

As the name implies, fibos are used to ascertain retracement levels and not trend direction of a giving time frame.
lets take this practical case study.
we know that euro is bullish at the moment on the 4hr as well as daily chart.Now if you go down to 30mis/15mins chart you will see a possible pullback emerging. Now this is very important.

-Before you use fibo to make your trade decision, you must first confirm that a retracement has began.
-If you want to use fibo to trade on say 30mins chart, you need to use the fibo levels of a higher time frame.

Now lets approach this in a do it yourself manner.
-Assuming i want to sell euro today knowing it is presently bullish, i will use the 4hr chart to check the retracement status.

1.I will wait for a 4hr candle to close bearish(heiken ashi candle is good to confirm trend change as it filters out false trend and you can attach this to your chart from custom indicator section)

2. i will wait for another bearish candle to form and break the low of the first closed bearish candle by 10pips(attach data window to your chart by clicking on view on the menu bar on your mt4 platform and choose data window. you will be able to see the high/low/open and close price of a candle)

3.Now once you have waited for the 4hr candle to close bearish and a new candle breaks the low of that first closed bearish candle by 10pips you will follow this next step/

4.attach a zigzag indicator to your chart(you will see this under custom indicator).then go to the menu bar and click insert then Fibonacci then retracement.

5. Now carefully place your cursor on the most recent low peak of the zigzag on your 4hr chart euro and carefully bring the cursor up to the current high pick and you will see the fibo levels.

6. Go to 1hr/30mins and you will clearly see where euro retracement may get to and place your trades accordingly.

attached is the picture you will get when you draw fibo on the 4hr chart and the picture it gives you on the 1hr chart

You will see that on the 4hr we have seen a candle closed bearish but no other candle has broken the first one by 10pips so we cant confirm retracement. But if this happens you simply go to 1hr chart and you can ascertain that the next lower fibo boundary might just be tested before the bulls continue their move.

i hope this helps. you can ask questions if you are not clear on any point.

i bought au

@toks2008 demo is different from real, no matter what u can`t exhibit same discipline on both a/c, i don`t mean to be rude, infact you are doing a good job,from my experience in demo and live a/c, i`m always good in demo and bad when it comes to live

ncpat: @toks2008 demo is different from real, no matter what u can`t exhibit same discipline on both a/c, i don`t mean to be rude, infact you are doing a good job,from my experience in demo and live a/c, i`m always good in demo and bad when it comes to live

You are perfectly right but that is talking about manual trade decisions.In manual trade decisions emotions set in(fear and greed) and i have written many times that even myself with all my knowledge in this business finds it difficult to make millions from this business because of greed which is a factor of manual trade decisions and this was why i advised that traders should code their manual trading method which i have done and testing them.
I repeat '95% of traders will never make it trading manually and i don't care what you think about this fact" so get the proper training you need, develop your own manual trading method that you trust and code it into EA to trade for you just as if you are the one trading manually.


All the test account im running are done with EAs and as you know, EAs have no emotions. What you see now is what you will see on real account. It is only normal for me to test the EA on demo first to see if its functioning as coded.

But just be patient as i wrote, lets make observations and recommendations if necessary on the test account. When i go live by September, we all will be around to see how it fares.

EU is it about to happen
time will tell, DDFX sentiment still filtering, no go ahead yet

Toks2008: Another 80pips was banked today on the intraday 20pips hacker test account.
http://www.myfxbook.com/members/ForexRefuge/20pips-hacker/349461

As we approach the Asian session i will like traders to see look in the bulls direction on euro but we just might see the intraday bears pushing euro down for a retest of supp 12523 if supp level 12549 is breached.

Traders who want to sell euro should do for for 20pips by placing a sell stop at 12548 with 20pips target and buy back at a retest of supp 12524.But sell only if supp 12548 is tested.

Good night.

so we are going for 20pips right now with the bears.

Trade with acre.

aguiyi: i bought au

you shud have waited a little, not ripe yet

gu buy limit @1.5800. just hope am right

nolly042: gu buy limit @1.5800. just hope am right

The fear of GU is the beginning of success in fx trading. This pair from experience does its own thing. It has no regard for indicators so i tag it the craziest pairs in fx world and infact i advise traders to avoid all these gbp base currency pairs. Too volatile and erratic in movements especially, Gbp/aud, gbp/usd,gbp/chf.

Toks2008:

The fear of GU is the beginning of success in fx trading. This pair from experience does its own thing. It has no regard for indicators so i tag it the craziest pairs in fx world and infact i advise traders to avoid all these gbp base currency pairs. Too volatile and erratic in movements especially, Gbp/aud, gbp/usd,gbp/chf.

thank u sir. well noted. au profit taken and a bearish divergence spoted on ej

Toks2008:

The fear of GU is the beginning of success in fx trading. This pair from experience does its own thing. It has no regard for indicators so i tag it the craziest pairs in fx world and infact i advise traders to avoid all these gbp base currency pairs. Too volatile and erratic in movements especially, Gbp/aud, gbp/usd,gbp/chf.

Am sure it gave you an MC once

Thats what i am looking for volatility, it does not ddfx by surprise so i am reaping my way there, the trick is that i when a high impact news is coming i, i use ddfx to enter the news so, its my best GU, GJ, GBPCHF are my best pairs, can deliver up to 400 pips some days, with just 8 pips spread from each of them
the fear of cable is the beginning of wisdom, but its always payday for me there will not trade it till the news at 9.30

nolly042:
thank u sir. well noted. au profit taken and a bearish divergence spoted on ej

AU testing support 2
wonder if it will break it

infofirst: 1.2586/4 selling eu for 50 pips.

almost there.

After taking a closer look at euro, we just might see a long intraday pull down to supp 12492 but traders should watch supp 12524 and sell with utmost care if further bearish move occurs but the bullish pull on the daily chart still looks formidable.

Join you later in the day.

Happy pipping

just went short on GBP/CHF .5180 tp .5095

I just enter sell on EU with stoploss @1.25600 I`m advising fx traders in the house to go against me and go for buy with take profit @ 1.25600 cos my stoploss is where the market always revise to hit it. i`m targeting 10pips @ 1.25307 so hope it works for me.

rozayx5: EU is it about to happen
time will tell, DDFX sentiment still filtering, no go ahead yet

EU SELL GOT A GO AHEAD from another indicator
DDFX - ATM when you place a trade it tells you = " please wait while your transaction is processing"
EU ATM is dispensing cash today,

I wonder where Unclenna is, i think he has missed this movement

GBP/USD: Trading the British Revised GDP (Today 24/8/12 9.30 AM)

British Revised Gross Domestic Product (GDP), published each quarter, measures the production and growth of the UK economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is higher than the market forecast is bullish for the pound.

Indicator Background:

British Revised GDP is a key economic indicator, and provides an excellent indication of the health and direction of the UK economy. Traders should pay particular attention to this economic indicator, as any unexpected reading could change the direction of GBP/USD.

The indicator has contracted for two consecutive releases, posting a reading of -0.3% in Q1. The markets are predicting a 0.5% drop for the Q3 release. Another contraction in GDP would signify a sustained decline in UK economic activity, and the pound could drop as a result. Will the indicator surprise the markets with a better reading than forecast?

Sentiments and levels

Thus, the overall sentiment is bullish on GBP/USD towards this release.

Technical levels, from top to bottom: 1.5750, 1.5648, 1.56, 1.5521, 1.5415 and 1.5361.

5 Scenarios

Within expectations: -0.5% to 0.1%. In such a scenario, GBP/USD is likely to......
Read more at https://www.nairaland.com/1024985/forex-trading-signals-boost-trading#11918587

rozayx5:
you shud have waited a little, not ripe yet

DDFX users in the house its time AU sell profit was taken cause soon a buy will emerger and we will ride the PIP okada back up in green pips, trading could not have been easier

just went long on AUD/USD at 1.0386 tp .04343 (sold this pair yesterday, tp hit)
trading the pullback. price just hit support. to confirm the pullback there is a bullish macd divergence on the 4hr.
funny enough price equally just hit monthly pivot.
let's see how this trade goes.

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

frenchman2:
Thanks for your observation. looking bullish in daily and weekly. i think it's just pulling back to 95.04 support.
that's where i''ll be going long. let's just see how it plays out. i might be wrong. just following my system

I guess it depends on when your daily candles close, on my platform it's GMT. The candle last night was bearish engulfing and it wrapped around three candles if you ignore the Sunday bar, also the turning point is the 50% fib level of the previous downward rally, so for all you know the recent upside might just be a correction rather than a complete reversal. I am looking for shorts around the 9655 area.

rozayx5:

DDFX users in the house its time AU sell profit was taken cause soon a buy will emerger and we will ride the PIP okada back up in green pips, trading could not have been easier

piplocker stopped me out with 15 pips on the EU retracement not bad shah

ayox2003:



Well, Constance Brown is a respected writer but you may not get the "comprehensive" explanation you need on Fibonacci. Fibonacci has limited literature that can give you the comprehensive knowledge. You can get the book.

But Robert Fischer's A New Fibonacci Trader coupled with Scott Carney's Harmonic Trader Volume 1 & 2 will give you what you need. I think I still have the first volume on my old PC.

I notice that these so-called gurus dont really trade anymore, they make money from books, seminars and subscriptions.

The ones who make the big bucks while trading rarely write. Dont get confused with variety. "Choose your choice".



Frawzey

Thanks, saw some leads on Scott Carney and I think I'm going to go with 'The Harmonic Trader' the successor of Harmonic trading vol 1&2, had a sneak preview of an internet upload of it last night. My grouse at the moment is that you can only purchase it on Carney's website and they are charging a whooping $25 for P&P, i dey vex o.

I won't mind a pdf or word version of the vol 1 that you have, please send it to my email, temiboye@yahoo.com

frenchman2: just went long on AUD/USD at 1.0386 tp .04343 (sold this pair yesterday, tp hit)
trading the pullback. price just hit support. to confirm the pullback there is a bullish macd divergence on the 4hr.
funny enough price equally just hit monthly pivot.
let's see how this trade goes.

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

Price action Don, can you please tell me what you think about that USDCAD R1 i have a buy running there since yesterday and i am thinking of getting out

frenchman2: just went long on AUD/USD at 1.0386 tp .04343 (sold this pair yesterday, tp hit)
trading the pullback. price just hit support. to confirm the pullback there is a bullish macd divergence on the 4hr.
funny enough price equally just hit monthly pivot.
let's see how this trade goes.

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

the support has been broken; my moving average says the down move is still on. i took my profit at the support level
@1.0414. but if price says other wise we will follow suit

nolly042:
the support has been broken; my moving average says the down move is still on. i took my profit at the support level
@1.0414. but if price says other wise we will follow suit

I like the bold statement. just follow price