Never Lose Again!! TheRumpledOne

[Never Lose Again!! TheRumpledOne]

 

We count 3 red H1 and the look for the reversal.

 

Simple!

 

If you never lose why do you want to be an IB? and don't you do have the ability to say no to MBtrading? Why do you send out some indicators only after donations if you don't need the 'donations' and you never lose?

[Anyone Trade FIBONACCI ?]

substitute support and resistance for fib and you could probably get the same sort of idea.

If markets are fractal then yes you will always beable to chop everything down further and further. However I am not interested in scalping, short time frame trades, I am more interested in identifying possible swings and entry and exit zones, prior to (not after) the movement.

 

I use fib retracements, or extensions of obvious swings to offer EXTRA visual cues that may offer areas of interesting trade triggers.

eg; a 50-61% retracement of an obvious swing, a 100% extension of what might be a ABC or 123 pattern.

 

Is this used in a hard and fast way? - No

Is this scientific, backtested, 100% reliable? - No

Is this an extra visual cue that alerts me to a possible interesting trading area? - yes

Does this seem to work as a way of offering good risk to reward levels to either enter trades or take profits? - yes

I have attached two charts from a trade that I did tonight as an example of what I am talking about. I did not use fib levels in this trade and were drawn after the fact but are there just to illustrate what I am thinking. In fact I don't even know if I drew it correctly because I know nothing about fibs. The blue line was what I determined to be support that turned into resistance and I wanted to take a short on the test of the new resistance. It is at the 38.2% fib level so I feel confident in this area holding. On chart 2 you see where my entry was at and my small stop. On chart 1 you see where I am shooting for the new support level as my exit.