Good Luck Mod....
IF YOU WANT TO LAST LONG IN THE MARKET THEN APPLY THIS SIMPLE METHOD
good strategy mod, i ever try to trade using your strategy (when the price retrace in 50% fib area) and it really good strategy and simple to earn profit through this strategy, but we must combinetd with candlestick pattern to see the price is rellly retrace or break 50%fib area.Like always, I am going to be trading with simple trading concepts like fibs, bar patterns, S & R and trendlines. I am more of an intraday trader or scalper than a swing trader but will give this a try.
Mostly my trading strategy involves taking higher timeframes as reference but since I have to hold my trade over at least a trading day, I will try to use the higher timeframes for trade entries too.
Regarding Fibs, I use it simply to know how much price has retraced and I mainly like taking trades when price retraces 50% of the fibonacci.
Regarding bar patterns, if they appear in a good S/R area, I trade them no matter what pattern it is.
S&R area, I usually plot them around psychological levels like 100 50 75.
Trendlines will be used to know if the price is continuing the trend or going for reversals.
Never Give UP
It is really a good strategy. I liked your strategy. I think this contest will be alive if at least ten traders left for the final day to compete for the 1st place. I am sure you will be one to them. I am looking forward to your trading style and probable outcome of trades. All the best wishes for your trading in the contest.
Hi mate, nice to see your nice thread. This is good price action strategy which you plot the spot with key levels. For my favorite pair EUR/JPY which key levels are good, mate?. From my view, it is 20, 50, 70 and 90.
My blog : http://blog.mt5.com/topman/
FROM ZERO TO HERO
IF YOU THINK YOU CAN, YOU CAN
All the best to you Mod ,hope you can score the best
good luck moderator. with u a good trading experience and i hope you will do the best.
I like your trading boy!
Nice and Clean - Moderately long!
Left side of a chart is "]-[istory", right, it's "Mystery".
2 sell orders in AUD/USD.
original trade no. 835406545 100 lot
The trade looked pretty good to me so I added another position shortly.
trade no. 835406658 100 lot
Price on a good resistance in daily timeframe.
Price went down from the resistance then checking the fib ratio saw it bounced off of 61.8 fib ratio and stalled around 50 fib area.
Entered the sell trades with profit targeting around 00 area i.e 0.9400 . Trades already closed but the down move looks pretty good currently.