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- tropics replied Apr 11, 2013
Dna, what part of Favorite's strategy do you trade? Have you altered it in any way? Thanks.
- tropics replied Feb 28, 2013
Tony, thank you for your answer. So I assume first direction is the first 5second candle(08:00:05). According to this, today's N.Y. open was a 2pip loss. Just want to make sure I understand it correctly. Thanks.
- tropics replied Feb 28, 2013
Tony, thank you for your answer. So I assume first direction is the first 5second candle(08:00:05). According to this, today's N.Y. open was a 2pip loss. Just want to make sure I understand it correctly. Thanks.
- tropics replied Feb 27, 2013
Understood. How do you currently trade?
- tropics replied Feb 27, 2013
Tony, are your current rules: trade only if there is a 5pip 5second candle at the LO, NY open or big news with a 2pip SL(including spread)? What is your current TP? Thank you very much in advance.
- tropics replied Feb 12, 2013
Thanks a lot!!!
- tropics replied Feb 12, 2013
That makes a whole lot of more sense now. I know that I might be trying to make this more complicated but I still have one more question. Let's look at this scenario: retracement goes down to 38.2 and then above the B point which determines our C ...
- tropics replied Feb 12, 2013
Ok, I see. The point B has to be reached first for us to determine where point C is. If A is reached, the pattern is broken.
- tropics replied Feb 12, 2013
Ok, so you adjusted the copy(line) of AB leg once the retracement made a lower retracement right? Did you draw your extension from the newest retracement low or the previous one? Since at first the retracement went to 38.2, but then went up and then ...
- tropics replied Feb 12, 2013
I thought Fib retracement was drawn from A to B. Not Fib extension.
- tropics replied Feb 12, 2013
Thank you. Ok so AB=CD is only if the price goes to and closes between 0.618-0.786AB. If it goes above or below it is the ABCD pattern. What happens if the retracement goes to 38.2 and goes up slightly and then moves down between .500 and 0.618. ...
- tropics replied Feb 12, 2013
So what is the difference between ABCD and AB=CD ? By searching online it seems like they are using it interchangeable and it means the same thing. Thanks.
- tropics replied Feb 12, 2013
Georji, thanks. What has to happen for it to become AB=CD?
- tropics replied Feb 12, 2013
Hi Starry, thank you for your answer. However, I didn't understand any of it to be completely honest. What do you mean by offsetting the impulse leg? Thank you.
- tropics replied Feb 12, 2013
If the price doesn't reach the 61.8 Fib, and only reaches 38.2 retracement, what should my thought process be? Do I still draw a fib extension and look for it to get in the PRZ area?
- tropics replied Feb 11, 2013
Hi, this is my first time attempting to draw these patterns and would appreciate if someone would critique it and let me know if it needs to be corrected. I just pulled up a random daily EUR/USD chart to practice. I assume that this is a ABCD ...
- tropics replied Feb 6, 2013
Tony, what rules are you currently using? Thanks.
- tropics replied Feb 5, 2013
Did you test it with 5second candles?
- tropics replied Sep 24, 2012
I am not polluting any thread, FH. I barely post at all. Question was a fair one. How is it mathematically possible to risk the same amount every trade if using martingale. I thoroughly back tested this system over the last several years with quite ...
- tropics replied Sep 24, 2012
How is this possible? Don't you use martingale? I don't see how you can possibly keep it at .01 every time.